National Holdings's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of National Holdings (NHLD) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: National Holdings vs Its Competitors
- TTM: Trailing 12-month revenue of 247M vs 960,889M combined for tracked competitors (0.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+10.1% annualized vs trailing 12 months), vs decelerating (-26.3%) for its tracked peer group.
- Growth: National Holdings generated 32.5% revenue growth year over year in Q1 2020, vs 5.3% for its tracked competitors combined.
- Profitability: Its -1.3% net margin compares with 24.6% for the peer group.
- Peer revenue share: National Holdings accounted for 0.0% of combined revenue among its tracked peer group, up from 0.0% a year earlier.
- Peer differentiation: Revenue per employee of $0.21M compares with $0.64M for the peer group (0.3x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
NHLD Sales vs. its Competitors, Q1 2020
National Holdings reported revenue growth of 32.51 % year on year in Q1 2020, above its competitors' combined revenue growth of 5.32 %.
With a net margin of -1.27 %, National Holdings reported lower profitability than its competitors (24.62 %).
National Holdings generated 0.04 % of the combined sales of its peer group, up from 0.03 % a year earlier.
National Holdings vs. its Competitors, Q1 2020
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across National Holdings and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| National Holdings Corp | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (26) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across National Holdings's competitor groups requires a Commercial License.
For context: the Investment Services industry grew revenue -2.0% year over year, combined, vs 32.5% for National Holdings. National Holdings's share of combined industry revenue moved from 0.02% to 0.03%, a gain of 0.01 percentage points.
National Holdings's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| National Holdings Corp | No | Yes | Yes | No |
| Competitors combined (63) | ||||
| High-Confidence Competitors (28) | ||||
| Similar Growth & Profitability (8) | 50.00 % (4 of 8) | 100.00 % (8 of 8) | 62.50 % (5 of 8) | 50.00 % (4 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
NHLD Stock Performance relative to its Competitors
NHLD Stock Performance relative to High-Confidence Competitors
NHLD Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | The Bank Of New York Mellon Corporation | 282.9% | Outperformed |
| 2 | Oppenheimer Holdings Inc | 282.9% | Outperformed |
| 3 | Virtu Financial inc | 282.9% | Outperformed |
| 4 | Interactive Brokers Group Inc | 282.9% | Outperformed |
| 5 | Citigroup inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for National Holdings's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
National Holdings's Comment on Competition and Industry Peers
Publicly Traded Peers of National Holdings Corp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| National Holdings Corp | 44.33 | 246.52 |
| Jpmorgan Chase and Co | 906,840.78 | 186,328.00 |
| Bank Of America Corporation | 404,609.27 | 121,098.00 |
| Morgan Stanley | 303,821.16 | 68,350.00 |
| The Goldman Sachs Group Inc | 279,373.77 | 52,259.00 |
| Wells Fargo and Company | 248,473.80 | 83,940.00 |
| SUBTOTAL | 3,073,098.39 | 981,630.93 |
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Sources: National Holdings Corp's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on National Holdings Corp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
National Holdings's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Manitex International Inc | Named by the company | 85% |
| Verisk Analytics Inc | Named by the company | 85% |
| Aegon Ltd | Named by the company | 85% |
| Cemex Sab De Cv | Named by the company | 85% |
| Farmers National Banc Corp | Named by the company | 85% |
| Insteel Industries Inc | Named by the company | 85% |
| Passage Bio Inc | Named by the company | 85% |
| American Express Company | Named by the company | 85% |
| Emmaus Life Sciences Inc | Named by the company | 85% |
| National Western Life Group Inc | Named by the company | 85% |
| Weatherford International Plc | Named by the company | 85% |
| Akanda Corp | Named by the company | 85% |
| Dover Corp | Named by the company | 85% |
| Technipfmc Plc | Named by the company | 85% |
| Kronos Bio Inc | Named by the company | 85% |
| Palomar Holdings Inc | Named by the company | 85% |
| Sypris Solutions Inc | Named by the company | 85% |
| Cavco Industries Inc | Named by the company | 85% |
| Extra Space Storage Inc | Named by the company | 85% |
| Oil States International Inc | Named by the company | 85% |
| Strata Skin Sciences Inc | Named by the company | 85% |
| Air Transport Services Group Inc | Named by the company | 85% |
| Dss Inc | Named by the company | 85% |
| Golar Lng Limited | Named by the company | 85% |
| Freightcar America Inc | Named by the company | 85% |
| Athlon Acquisition Corp | Named by the company | 85% |
| Horace Mann Educators Corporation | Named by the company | 85% |
| Sauer Energy, Inc. | Named by the company | 85% |
| Icahn Enterprises l p | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for National Holdings's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
National Holdings's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Citigroup inc | Markets 29.42 % |
| Schwab Charles Corp | Investor Services 78.17 % |
| First Citizens Bancshares Inc | Commercial Bank 46.42 % |
| Sei Investments Company | Investment Managers 35.49 % |
| Webster Financial Corporation | Commercial Banking 48.55 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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National Holdings's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| National Holdings Corp | 44 | 213,990 | -4,839 |
| Jpmorgan Chase and Co | 906,841 | 584,995 | 200,752 |
| Bank Of America Corporation | 404,609 | 568,535 | 158,005 |
| Morgan Stanley | 303,821 | 823,494 | 245,422 |
| The Goldman Sachs Group Inc | 279,374 | 1,102,511 | 442,468 |
| Wells Fargo and Company | 248,474 | 351,213 | 95,100 |
| PEERS TOTAL | 3,073,054 | 640,822 | 148,232 |
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National Holdings's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Sei Investments Company | United States 85.02 % |
| Stifel Financial Corp | Americas 55.21 % |
| Houlihan Lokey Inc | United States 71.23 % |
| Stonex Group Inc | Middle East and Asia 90.47 % |
| Virtu Financial inc | United States 78.79 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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National Holdings's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Investment Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (78 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 99.43 % | 61.67 % (avg) | +37.8 pp |
| Operating Margin | -6.41 % | industry median | -36.5 pp |
| EBITDA Margin | -1.39 % | 19.52 % (avg) | -20.9 pp |
| Capital Intensity (Capex / Revenue) | 0.09 % | 2.93 % (avg) | -2.8 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
National Holdings's Valuation vs Competitive Position
Valuation multiples vs the Investment Services industry average (78 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 23.9x | - |
| EV / EBITDA | - | 12.8x | - |
| P/B | 0.8x | 3.0x | -2.2x |
| Return on Equity | -11.76 % | industry aggregate | -24.42 % |
| Return on Invested Capital | -9.89 % | 8.46 % (avg) | -18.35 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
National Holdings's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 21.96 % | 28.52 % | -12.10 % | 10.87 % | 9.14 % | 12.16 % | -5.99 % | 19.65 % |
| Operating Margin | 3.39 % | 48.23 % | 4.74 % | 2.84 % | 4.77 % | 1.92 % | -0.76 % | -6.41 % |
| Return on Invested Capital | 13.57 % | 109.11 % | 7.42 % | 5.55 % | 10.25 % | 3.91 % | -1.29 % | -9.89 % |
| P/E | - | - | - | 1,481.2x | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
National Holdings's Strategic Group Map
Every company in National Holdings's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. National Holdings is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
National Holdings's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.09 % vs industry average 2.93 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See National Holdings's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See National Holdings's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
National Holdings's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
National Holdings falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
National Holdings's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+10.1% annualized vs trailing 12 months).
Weaknesses
- Operating margin 36.5 points below the industry median.
- Return on equity 24.4 points below the industry aggregate.
Opportunities
No rule matched.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-26.3% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
National Holdings's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| National Holdings Corp | 3.20 | 6.12 | 0.10 |
| Jpmorgan Chase and Co | 0.17 | 0.42 | 1.40 |
| Bank Of America Corporation | 0.09 | 0.52 | 1.25 |
| Morgan Stanley | 0.40 | 1.12 | 3.16 |
| The Goldman Sachs Group Inc | 0.50 | 0.79 | 3.11 |
| Wells Fargo and Company | 0.11 | 0.80 | 1.41 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
National Holdings's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| National Holdings Corp | Q4 2020 | +32.5 % | - |
| Jpmorgan Chase and Co | Q2 2026 | +30.4 % | +44.0 % |
| Bank Of America Corporation | Q2 2026 | +15.0 % | +27.5 % |
| Morgan Stanley | Q2 2026 | -30.6 % | +58.1 % |
| The Goldman Sachs Group Inc | Q2 2026 | -65.3 % | +78.0 % |
| Wells Fargo and Company | Q2 2026 | +14.2 % | +21.6 % |
| PEERS TOTAL | +3.0 % | +10.6 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
National Holdings's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| National Holdings Corp | Q4 2020 | -15.7 % | -13.2 % |
| Jpmorgan Chase and Co | Q2 2026 | -6.4 % | - |
| Bank Of America Corporation | Q2 2026 | - | - |
| Morgan Stanley | Q2 2026 | - | +7.3 % |
| The Goldman Sachs Group Inc | Q2 2026 | -73.4 % | +5.5 % |
| Wells Fargo and Company | Q2 2026 | -16.2 % | - |
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National Holdings's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| National Holdings Corp | - | - | - |
| Jpmorgan Chase and Co | 1.35% | 3.71% | 17.50% |
| Bank Of America Corporation | 0.97% | 2.76% | 11.13% |
| Morgan Stanley | 1.35% | 1.95% | 17.85% |
| The Goldman Sachs Group Inc | 1.07% | 1.86% | 16.95% |
| Wells Fargo and Company | 1.05% | 2.94% | 12.48% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
National Holdings's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| National Holdings Corp | - | 0.18 |
| Jpmorgan Chase and Co | 14.17 | 4.87 |
| Bank Of America Corporation | 12.78 | 3.34 |
| Morgan Stanley | 15.67 | 4.45 |
| The Goldman Sachs Group Inc | 14.19 | 5.35 |
| Wells Fargo and Company | 11.82 | 2.96 |
| PEERS AVERAGE | 13.54 | 3.13 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.