NAS10030,808+1.00%S&P7,723+0.73%GOLD$4,182+0.48%BTC$86,189−0.34%VIX15.31−6.59%live tape · as of 07:26 UTC
The Screen · Financials · Banks - Regional
National Bank of Kuwait
NBK.KW · BOURSA KUWAIT · KWF · Market cap $7.6B
National Bank of Kuwait S.A.K.P., together with its subsidiaries, provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Eur…
FAIL · Does not pass the screen
848.00 KWF
Screen close, 2026-09-20 · not a live quote Last reviewed 15 days ago
Screened 2026-09-20 · the tape above runs as of 07:26 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 848.00 against the desk's fair-value range, base estimate 462.85, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price848.00 KWF
Fair value462.85
Ethical score30.0/100
RatingAVOID
Our investment reviews on this name
2026-10-02Read Accumulation848.00+0.0% to today ✓
2026-09-06Read Markdown824.00+2.9% to today
2026-08-06Read Markup824.00+2.9% to today ✓
2026-07-02Read Distribution824.00+2.9% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
National Bank of Kuwait holds its Accumulation at $848.00. Consolidating, no directional conviction, held for 37 days.
As held on the ledger · 2026-09-20
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 37 days
Price at the screen
$848.00
Valuation
14,133.33 trailing · 14,133.33 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.10
The Workings
Five Screens, Shown in Full
Does not pass. Business activity exclusion: FAIL
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Business activity exclusion: FAIL
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
National Bank of Kuwait does not clear the screen at the business-activity stage. It operates in an area the screen excludes: Business activity exclusion: FAIL, so the financial ratios are not the deciding factor here.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID: it trades above our $462.85 fair value estimate, 5.30% revenue growth.
Fair value range in KWF, drawn from the 2026-09-20 screen. The gold marker is the market price at the same screen. The price runs 45.4% above the base estimate.
Third-party analyst targets: 9 covering, consensus Hold. The average target sits +9% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-20 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Why it gives us pause
At 14,133.3x forward earnings, the price already runs ahead of the business. It trades 45% above our $462.85 fair value, so you would be buying at a premium, not a discount.
The risks · The things to watch: its business and earnings are exposed to Kuwait and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
NBK.KW trades on BOURSA KUWAIT (the company is based in Kuwait). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 10%. Our forward projection puts the odds of a 10% gain over the next month near 5%. The street (9 analysts) rates it hold, with a mean price target of $977. Since the last review it its composite score eased.
2026-09-06Markdown · changed$824.00+0.0%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 10%. Our forward projection puts the odds of a 10% gain over the next month near 5%. The street (9 analysts) rates it hold, with a mean price target of $977.
2026-08-06Markup · changed$824.00+0.0%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 10%. Our forward projection puts the odds of a 10% gain over the next month near 5%. The street (9 analysts) rates it hold, with a mean price target of $977.
2026-07-18Distribution$824.00+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 10%. Our forward projection puts the odds of a 10% gain over the next month near 5%. The street (9 analysts) rates it hold, with a mean price target of $977.
2026-07-03Distribution$824.00+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Distribution$824.00Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
What Holding Actually Paid · Price Plus Dividends
If $1,000 had been placed · historical, not a promise
Period
Price then
Price return
Divs per share
$1,000 became
Total return
1 month
$854.00
-4.0%
·
$960
-4.0%
2 months
$880.00
-6.8%
·
$932
-6.8%
3 months
$896.15
-8.5%
$35.00
$954
-4.6%
6 months
$993.29
-17.5%
$35.00
$861
-13.9%
1 year
$910.44
-9.9%
$35.00
$939
-6.1%
2 years
$778.17
+5.4%
$67.88
$1,141
+14.1%
3 years
$808.46
+1.4%
$98.11
$1,136
+13.6%
5 years
$657.26
+24.8%
$150.40
$1,476
+47.6%
Historical returns from market close data. Past performance does not guarantee future results.
The Ledger's Promise
This entry now belongs to the ledger. Whatever NBK.KW does next, these words stay.
National Bank of Kuwait · NBK.KW · Accumulation · $848.00
Recorded 2026-09-20 · before the outcome · scored mechanically