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National Bank Holdings (NBHC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · National Bank Holdings (NBHC) Q3 2026 earnings results →
Q3 2026 Revenue up 16% year over year to $126M · 7¢ of every $1 of revenue lost · operating margin -9.5%
National Bank Holdings made $126M in Q3 2026 (+16% Y/Y). Operating margin -9.5%, net loss $8.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $126.4M in Q3 2026, up 16% year over year and down 2% from the previous quarter.
Operating costs exceeded revenue by $12.0M, an operating margin of -9.5%. Total costs grew 111% against revenue growth of 16%. The quarter ended with a net loss of $8.8M, after a profit of $26.5M the previous quarter.
Operating cash flow was $66.1M (up 26% year over year). Non-cash charges added back $10.3M of depreciation and amortization and $7.4M of share-based compensation. Working capital and other items added $57.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $126M | +16% | -9.5% | −$8.8M | $66.1M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $129M | +24% | 25.3% | $26.5M | $135M |
| Q1 2026 | 10-Q | May 7, 2026 | $127M | +24% | 20.5% | $20.8M | −$56.8M |
| Q4 2025 | 10-K | Feb 24, 2026 | $101M | -0.6% | 19.0% | $16.0M | $38.1M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $109M | +3% | 39.6% | $35.3M | $52.4M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $104M | +7% | 39.8% | $34.0M | $32.3M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $102M | +0.3% | 29.2% | $24.2M | $39.6M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About National Bank Holdings
NBHC is a bank holding company that has elected financial holding company status and was incorporated in the State of Delaware in 2009. The Company is headquartered in Greenwood Village, Colorado, and its primary operations are conducted through its wholly owned subsidiaries, NBH Bank, BOJHT and 2UniFi, LLC. The Company provides a variety of banking products and services to both commercial and consumer clients through a network of over 90 banking centers, as of December 31, 2025, located primarily in Colorado, the greater Kansas City region, Texas, Utah, Wyoming, New Mexico and Idaho, as well as through online and mobile banking products and services. As of December 31, 2025, we had $9.9 billion in assets, $7.4 billion in loans, $8.3 billion in deposits, $1.4 billion in shareholders’ equity and $1.3 billion in assets under management in our trust and wealth management business.
In its own words, from its 10-K, filed Feb 24, 2026.
National Bank Holdings against its National Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +16% against the peers' median +8%. Operating margin: -9.5% against the peers' median 30.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NBHC National Bank Holdings | Q3 2026 | $126M | +16% | -9.5% |
| JPM JPMorgan Chase | Q3 2026 | $50.2B | +8% | 40.1% |
| BAC Bank of America | Q3 2026 | $30.0B | +3% | 29.9% |
| C Citigroup | Q3 2026 | $23.8B | +8% | 30.6% |
| WFC Wells Fargo | Q3 2026 | $21.9B | +2% | 32.5% |
| COF Capital One Financial | Q3 2026 | $16.3B | +6% | 28.0% |
| USB US Bancorp | Q3 2026 | $8.0B | +9% | 35.1% |
| PNC PNC Financial Services Group | Q3 2026 | $6.6B | +11% | 40.0% |
| TFC Truist Financial | Q3 2026 | $3.7B | -28% | 23.9% |
Source: National Bank Holdings 10-Q on SEC EDGAR · CIK 1475841 · National Commercial Banks
Guidance and outlook
13F: who owns NBHC and who is buying
More on NBHC
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results