FY2018 Annual Report: National Australia Bank EPS Growth slows to 3.1%
Release Date: January 25, 2019
National Australia Bank (ASX:NAB), announced EPS of $A2.01 for the year-ended 30 September 2018, up 3.1% from $A1.95 in the previous year-ended 30 September 2017. EPS growth from the year-ended 30 September 2016 to the year-ended 30 September 2017 was 1,158.1%.


Period-endedEPS in $AFx USD1=$AEPS in $USEPS growth %
30 September 20182.011.381.453.1
30 September 20171.951.281.531,158.1

Major changes compared with previous year:

Favourable Changes:
Net profit up 5.1% from $A5.3b ($US4.1b) to $A5.6b ($US4.0b)
EPS up 3.1% from $A1.95 ($US1.53) to $A2.01 ($US1.45)
Unfavourable Changes:
Operating Cash Flow is negative
Return on Equity down from 12% to 11.3%
Working capital to total assets down 2.1% to 78.1%
Note:
EBIT to total assets steady at 2.9%
Retained earnings to total assets steady at 2.1%
Net tangible assets per share steady at $A15.96 ($US11.5)

Annual Report [Year-on-year comparison: 2018 vs 2017]


Company Name : National Australia Bank Limited (NAB)
September 302018201720182017Change
Description$A ('000)$A ('000)$US ('000)$US ('000)(%)
EBITDA23,438,00022,882,00016,932,010.417,939,631.5Up 2.4
EBITD23,438,00022,882,00016,932,010.417,939,631.5Up 2.4
EBIT23,438,00022,882,00016,932,010.417,939,631.5Up 2.4
Finance cost15,038,00014,221,00010,863,707.411,149,353.2Up 5.7
Pre-Tax Profit/(Loss)8,400,0008,661,0006,068,303.16,790,278.3Down 3
Profit/(Loss) after Tax5,554,0005,285,0004,012,304.24,143,473.1Up 5.1
Working Capital629,663,000628,746,000454,879,276.9492,940,807.5Up 0.1
Current Assets786,718,000769,975,000568,338,484.2603,665,229.3Up 2.2
Current Liabilities157,055,000141,229,000113,459,207.3110,724,421.8Up 11.2
Shareholders' Funds52,712,00051,317,00038,080,046.740,232,849.9Up 2.7
Total Liabilities753,798,000737,008,000544,556,515.4577,818,894.6Up 2.3
Total Assets806,510,000788,325,000582,636,562.1618,051,744.4Up 2.3
Current Debt140,222,000124,871,000101,298,761.397,899,647.2Up 12.3
Total Debt140,222,000124,871,000101,298,761.397,899,647.2Up 12.3
Cash and cash equivalents50,188,00043,826,00036,256,666.134,359,858.9Up 14.5
Net Assets52,712,00051,317,00038,080,046.740,232,849.9Up 2.7
Net Tangible Assets46,925,00045,716,00033,899,419.335,841,630.7Up 2.6

Year-on-year comparison of Per Share figures * EPS Dilution Factor = EPS change / Net Profit change
September 302018201720182017Change (%)
Description$A $A $US $US
EBIT$A8.7$A8.66.26.7Up 0.7
EBITD$A8.7$A8.66.26.7Up 0.7
EBITDA$A8.7$A8.66.26.7Up 0.7
Cash$A31.4$A29.922.723.5Up 4.9
Working Capital$A232.4$A236167.9185Down 1.5
Shareholders' Funds$A19.5$A19.314.115.1Up 1
Total Liabilities$A278.2$A276.6201216.9Up 0.6
Total Assets$A297.7$A295.9215232Up 0.6
Current Debt$A51.8$A46.937.436.7Up 10.4
Total Debt$A51.8$A46.937.436.7Up 10.4
Net Tangible Assets$A16$A15.911.512.5Up 0.3
EPS Final201c195cUS145.2cUS152.9cUp 3.1
   EPS Dilution Factor *0.6    

Year-on-year comparison of Performance Ratios
September 3020182017Change (%)
Return on Equity (%)11.312Down 5.8

Currency Conversion (September 30, 2018): $US1 = $A1.38

Currency Conversion (September 30, 2017): $US1 = $A1.28


Five-year record of growth and performance: EBITDA averaged $US10.5B or $A14.5B over the last 5 years. Operating Profit averaged $US10.5B or $A14.5B over the last 5 years. Net Profit averaged $US4.4B or $A6.1B over the last 5 years. In the last 5 years EBITDA averaged $A14.5B ($US10.5B) and Net Profit averaged $A6.1B ($US4.4B)
DescriptionAnnual ($A B)Annual ($US B)5-year Avg ($A B)5-year Avg ($US B)5-year CAGR %
EBITDA23.416.914.510.523.7
Operating Profit23.416.914.510.523.7
Net Profit5.646.14.40.7

Five-year record of ROE and ROA In 2018 Return on Equity 5-year average is 11.8% (All Figures in %)
Description20185-year Avg
Return on Equity11.311.8
Return on Assets0.70.7