Nationwide Building Society (NBS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Nationwide Building Society stock £250, price £125, upside +100.0%, quality 58 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range £110.00 – £191.00 · fair‑value band £187.50 – £312.50 · the £125.00 price screens below the £250.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.
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Nationwide Building Society, together with its subsidiaries, provides retail banking products and services in the United Kingdom.
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The company offers current, savings, and individual savings accounts; residential mortgages; overdrafts; personal, car, wedding, debt consolidation, holiday, and home improvement loans; and credit cards. It also provides loans to registered social landlords, and project finance initiatives.
In addition, the company offers home, life, income protection, travel, mobile phone, and breakdown insurance; and investment products and services, such as financial planning services.
Further, it provides treasury liquidity and derivatives services, as well as mobile, telephone, and internet banking services. The company was founded in 1846 and is headquartered in Swindon, the United Kingdom.
Stock analysis
Nationwide Building Society (NBS) currently trades at £125.00, while our model-based Fair Value estimate is £250.00, implying the stock looks roughly 50% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of £1,540 per share, and 6 of the 6 models we run sit above the £125.00 price.
Bear case: the Dividend Discount group reads lowest at £150.43, and 0 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: £187.50 (bear) to £312.50 (bull), the price of £125.00 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Nationwide Building Society reported revenue of £17.4B in FY2026 versus £4.9B in FY2022, a compound +37.5%/yr. Reported net income was £1.1B in FY2026, compounding −4.1%/yr from FY2022.
Key figures
Market cap £1.1B Small · P/E ratio 1.1 · P/S ratio 0.19 · EPS (TTM) £115.98 · Dividend yield 8.2% · Net margin 17.5% · Return on equity 5.3% · Return on assets (EBIT) 0.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at 100%, NBS screens cheaper than that median.
Fair Value models
Bear£187.50Fair Value £250.00Bull£312.50
Price £125.00 · Upside +100.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (£70.86 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+30.8%
Start year 2021 (pandemic). Over 10 years: +18.1% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.2%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+22.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.7%
Dividend (yield on the price)8.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.14.7% vs −2.7%, picking up
Profit margin 2022 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.33% → 9%
Compare Nationwide Building Society with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 996 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+100.0% · Top 25%
Profitability
Return on equity (12 months)5.3% · Bottom 25%
Return on assets0.3% · Bottom 25%
Net margin (12 months)17.5% · Bottom 25%
Operating margin (12 months)32.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)27.9% · Top 25%
Dividend yield (12 months)8.2% · Top 25%
Balance sheet
Debt / equity1.02× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Nationwide Building Society Fair Value". https://www.fairvalue-calculator.com/stock/NBS
Frequently asked questions
Is Nationwide Building Society (NBS) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of £250.00 versus a price of £125.00, about +100% upside (undervalued).
What is the fair value of NBS?
Our model-based fair value for Nationwide Building Society is £250.00 (as of Nov 9, 2026), built from audited fundamentals. The current price: £125.00.
What is the quality score of NBS?
Nationwide Building Society has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Nationwide Building Society (NBS)?
Our model-based price target is the fair value of £250.00 (as of Nov 9, 2026) from 6 valuation models. Cautious scenario £187.50, optimistic scenario £312.50. It is a calculation from audited fundamentals, not an analyst target.
What is the Nationwide Building Society stock forecast for 2026?
Our models put fair value at £250.00, about +100% upside versus a price of £125.00 (undervalued). Cautious scenario £187.50, optimistic scenario £312.50. The calculation is refreshed regularly with new filings.
What is the revenue of Nationwide Building Society (NBS)?
Nationwide Building Society reported trailing-twelve-month revenue of about £6.0B (latest available figure, as of Nov 9, 2026).
Does Nationwide Building Society pay a dividend?
Nationwide Building Society currently shows a dividend yield of 8.24% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Nationwide Building Society (NBS)?
Nationwide Building Society has a dividend yield of 8.2%.
What is the intrinsic value of Nationwide Building Society (NBS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nationwide Building Society it is £250.00 per share (as of Nov 9, 2026), against a price of £125.00. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Nationwide Building Society stock overvalued or undervalued in 2026?
As of Nov 9, 2026, NBS trades below its calculated fair value: price £125.00, fair value £250.00, a gap of about +100% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NBS?
No. The price is what the market pays today (£125.00); the fair value is what the company's own numbers justify (£250.00). For Nationwide Building Society the two are £125.00 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nationwide Building Society worth?
The market values Nationwide Building Society at about £1.1B (market capitalisation, as of Nov 9, 2026). Per share that is £125.00; our models calculate a fair value of £250.00 per share.
What do the bullish and bearish scenarios say about NBS?
Our models span a range for Nationwide Building Society: cautious scenario £187.50, base £250.00, optimistic £312.50 per share (as of Nov 9, 2026, price £125.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NBS?
Nationwide Building Society trades at a price-to-earnings ratio of 1.1 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £250.00 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings: 1.3. Other multiples: P/B 0.1, P/S 0.2.
How solid is the balance sheet of Nationwide Building Society (NBS)?
Balance-sheet figures for Nationwide Building Society (as of Nov 9, 2026): return on equity 5.3%, debt of 1.02 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is NBS from its 52-week high?
Nationwide Building Society trades at £125.00, about 6% below its 52-week high of £133.00 and at the low of £125.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of £250.00 is for.
Which stocks are comparable to Nationwide Building Society?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Nationwide Building Society stock attractive at the current price?
The data as of Nov 9, 2026: price £125.00, calculated fair value £250.00 (+100%), Quality Score 58/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NBS calculated?
We run Nationwide Building Society through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of £250.00 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Nationwide Building Society currently trades 50% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Nationwide Building Society (NBS)?
The closing price on Nov 6, 2026 was £125.00. Our model-based fair value is £250.00, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nationwide Building Society right now?
The price is below even our cautious bear case (£187.50). The market is more pessimistic than our downside scenario. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Nationwide Building Society (NBS) come from?
Earnings per share at Nationwide Building Society grew +1.0 % a year from 2015 to 2026. Broken into its drivers: revenue per share +10.5 %, EBIT margin −9.8 %, tax rate +1.2 %, residual (interest, one-offs) +0.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Nationwide Building Society
How large is the market capitalisation of Nationwide Building Society (NBS)?
The market capitalisation of Nationwide Building Society is £1.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Nationwide Building Society (NBS)?
The price-to-sales ratio of Nationwide Building Society is 0.19 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nationwide Building Society (NBS)?
Earnings per share at Nationwide Building Society are £115.98 (price ÷ EPS = P/E 1.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nationwide Building Society (NBS)?
The dividend yield of Nationwide Building Society is 8.2% (payout 8.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Nationwide Building Society (NBS)?
The net margin of Nationwide Building Society is 17.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Nationwide Building Society (NBS)?
The return on equity (ROE) of Nationwide Building Society is 5.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Nationwide Building Society (NBS)?
On an EBIT basis the return on assets of Nationwide Building Society is 0.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Nationwide Building Society (NBS)?
The operating margin of Nationwide Building Society is 32.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nationwide Building Society (NBS)?
Revenue at Nationwide Building Society is growing +27.9% versus a year earlier (3y avg +23.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Nationwide Building Society (NBS)?
Earnings per share at Nationwide Building Society are growing −61.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Nationwide Building Society (NBS) generate?
The free cash flow of Nationwide Building Society is £3.5B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Nationwide Building Society (NBS) carry?
The net debt of Nationwide Building Society is £27.0B (fiscal year 2026, ≈ 7.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 9, 2026