National Bank of Greece S.A.

Factors to consider:

• Company pays dividends (irregularly): last record date 2025-11-11, amount 0.26$ (Y1.70%)
• Current price 60.2% above estimated high
• Earnings for 9 months up through Q3 exceed our estimates

Stock Forecast*

* forecast is subjective and experimental, should not be used for any investment decisions

Long term estimates were made for the period from 2024-12-31 to 2026-12-31

• 2024-12-31 to 2025-12-31 estimated range: [6.91$, 9.55$]
• 2025-12-31 to 2026-12-31 estimated range: [7.22$, 10.11$]

Financial Metrics affecting the NBGIF estimates:

• Positive: with PPE of 5.9 at the end of fiscal year the price was very low
• Positive: Operating profit margin, % of 42.47 > 18.64
• Negative: Operating cash flow per share per price, % of -35.66 <= 0.33
• Positive: Industry operating cash flow per share per price (median), % of 10.66 > 10.33
• Positive: -2.95 < Return on assets ratio (scaled to [-100,100]) of 1.52
• Positive: Industry earnings per price (median), % of 6.49 > 4.43
• Negative: Shareholder equity ratio, % of 11.24 <= 18.93
• Positive: Industry operating profit margin (median), % of 19.98 > 9.92
• Positive: Industry inventory ratio change (median), % of 0 <= 0