National Bank of Canada NA.TO TSX

National Bank of Canada (NA.TO) generated $-688M in operating cash flow for quarter ending 2026-01-31. After capital expenditures of $34M, free cash flow was $-722M.

Free cash flow margin was -9.1% of revenue. Cash conversion ratio was -0.55x, suggesting some earnings are non-cash.

The company returned $526M in dividends and $1.12B in share buybacks to shareholders during the quarter.

Criteria supported by this page:

• HEALTH (0/100, Fail) — weak cash flow raises concerns about debt servicing
• MOAT (62/100, Partial) — cash flow generation is present but not at levels indicating a wide moat
• INCOME (55/100) — Cash conversion ratio was -0.55x suggests some earnings are non-cash items

Overall SharesGrow Score: 56/100 with 3/7 criteria passed.