NatWest Group plc logo

NatWest Group plc

NWG

NYSEFinancial ServicesBanks - Regional

Previous close

$18.62

+$0.31 · +1.69%

Aug 21, 4:00 PM ET

NWG company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

95

Deep Value

Momentum

48

Neutral

Sentiment

56

Mixed

Risk resilience

74

Moderate Risk

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Company profile

Company website

NatWest Group plc is a leading financial institution that delivers a broad spectrum of banking and financial services to individual customers, businesses, corporations, and institutional clients across the United Kingdom and globally. The company's operations are divided into several key divisions: Retail Banking addresses consumer needs by providing essential banking products like current accounts, home mortgages, unsecured personal loans, and savings options, alongside extensive mobile and online banking capabilities. Commercial Banking offers bespoke banking and financing solutions, supporting entities ranging from new start-ups and small-to-medium-sized enterprises (SMEs) to larger commercial and corporate organizations. Private Banking specializes in offering exclusive private banking and wealth management services for affluent individuals and their business ventures. RBS International focuses on providing various banking products and services specifically for institutional customers, in addition to managing wholesale branches and fund depositary services. NatWest Markets assists corporate and institutional clients in the strategic management of financial risks, guiding them towards achieving their immediate and long-term financial aspirations. The company boasts a significant physical footprint, with approximately 800 branches and an additional 16,000 points of presence. Established in 1727, NatWest Group plc, which was formerly known as The Royal Bank of Scotland Group plc until its name change in July 2020, is headquartered in Edinburgh, United Kingdom.

Industry
Banks - Regional
Sector
Financial Services
Headquarters
GB
CEO
John-Paul Thwaite
Listed since
Oct 18, 2007
Employees
59,000

Market position

Day range

Current $18.62

52-week range

Current $18.62

Open
$18.575
Previous close
$18.31
Volume
1.93M
0.46× average
Average volume
4.18M
Average daily volume
Market cap
37.07B USD
Beta
0.82
Market reference 1
50-day average
$18.017
+3.35% above average
200-day average
$16.7448
+11.20% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
12.62B GBP
P/E (TTM)
7.2×
P/B (TTM)
1.41×
P/S (TTM)
1.82×
EV / EBITDA
1.42×
Earnings yield
22.30%
Free cash flow yield
22.15%
Dividend yield
1.75%

Profitability & efficiency

Gross margin
58.37%
Operating margin
28.18%
Net margin
21.17%
Return on equity
13.69%
Return on assets
0.82%
Return on invested capital
2.49%

Financial health

Debt / equity
4.29×
Current ratio
0.2×
Altman Z-score
-0.5
Piotroski F-score
5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends93%65%38%10%Gross margin, FY2021: 85.89%Gross margin, FY2022: 82.69%Gross margin, FY2023: 59.71%Gross margin, FY2024: 51.30%Gross margin, FY2025: 56.34%Operating margin, FY2021: 31.93%Operating margin, FY2022: 31.78%Operating margin, FY2023: 24.95%Operating margin, FY2024: 21.69%Operating margin, FY2025: 26.15%Net margin, FY2021: 27.15%Net margin, FY2022: 22.23%Net margin, FY2023: 18.72%Net margin, FY2024: 16.81%Net margin, FY2025: 19.78%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 85.89%. Gross margin FY2022 82.69%. Gross margin FY2023 59.71%. Gross margin FY2024 51.30%. Gross margin FY2025 56.34%. Operating margin FY2021 31.93%. Operating margin FY2022 31.78%. Operating margin FY2023 24.95%. Operating margin FY2024 21.69%. Operating margin FY2025 26.15%. Net margin FY2021 27.15%. Net margin FY2022 22.23%. Net margin FY2023 18.72%. Net margin FY2024 16.81%. Net margin FY2025 19.78%.

Income trends

Revenue

29.48B GBP+3.20%

Operating income

7.71B GBP+24.42%

Net income

5.83B GBP+21.43%
Income trends across reported periods32.1B GBP21.62B GBP11.13B GBP647M GBPRevenue, FY2021: 12.04B GBPRevenue, FY2022: 16.15B GBPRevenue, FY2023: 24.76B GBPRevenue, FY2024: 28.57B GBPRevenue, FY2025: 29.48B GBPOperating income, FY2021: 3.84B GBPOperating income, FY2022: 5.13B GBPOperating income, FY2023: 6.18B GBPOperating income, FY2024: 6.2B GBPOperating income, FY2025: 7.71B GBPNet income, FY2021: 3.27B GBPNet income, FY2022: 3.59B GBPNet income, FY2023: 4.64B GBPNet income, FY2024: 4.8B GBPNet income, FY2025: 5.83B GBPFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 12.04B GBP. Revenue FY2022 16.15B GBP. Revenue FY2023 24.76B GBP. Revenue FY2024 28.57B GBP. Revenue FY2025 29.48B GBP. Operating income FY2021 3.84B GBP. Operating income FY2022 5.13B GBP. Operating income FY2023 6.18B GBP. Operating income FY2024 6.2B GBP. Operating income FY2025 7.71B GBP. Net income FY2021 3.27B GBP. Net income FY2022 3.59B GBP. Net income FY2023 4.64B GBP. Net income FY2024 4.8B GBP. Net income FY2025 5.83B GBP.
Metric (GBP)FY2025FY2024FY2023FY2022FY2021
Revenue29.48B GBP28.57B GBP24.76B GBP16.15B GBP12.04B GBP
Cost of goods sold12.87B GBP13.91B GBP9.98B GBP2.8B GBP1.7B GBP
Gross profit16.61B GBP14.65B GBP14.78B GBP13.35B GBP10.34B GBP
Selling, general, and administrative1.42B GBP1.45B GBP1.61B GBP1.59B GBP1.46B GBP
Operating expenses8.9B GBP8.46B GBP8.61B GBP8.22B GBP6.5B GBP
Interest income25.7B GBP25.19B GBP21.03B GBP12.64B GBP9.23B GBP
Interest expense12.87B GBP13.91B GBP9.98B GBP2.8B GBP1.7B GBP
Depreciation and amortization1.15B GBP1.06B GBP934M GBP833M GBP923M GBP
Operating income7.71B GBP6.2B GBP6.18B GBP5.13B GBP3.84B GBP
Net income5.83B GBP4.8B GBP4.64B GBP3.59B GBP3.27B GBP

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
100%
11 beats, 0 misses, 0 met estimates
Average EPS surprise
+26.18%
11 comparable reports
Latest EPS result
0.54
Estimate 0.45 · Beat by 20.00%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.580.460.340.22Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 14, 2025: actual 0.37, estimate 0.261, surprise +41.76%, Beat. Q2 2025, reported May 2, 2025: actual 0.39, estimate 0.343, surprise +13.60%, Beat. Q3 2025, reported Jul 25, 2025: actual 0.41, estimate 0.365, surprise +12.27%, Beat. Q4 2025, reported Oct 24, 2025: actual 0.53, estimate 0.418, surprise +26.92%, Beat. Q1 2026, reported Feb 13, 2026: actual 0.46, estimate 0.38, surprise +21.05%, Beat. Q2 2026, reported May 1, 2026: actual 0.48, estimate 0.44, surprise +9.09%, Beat. Q3 2026, reported Jul 31, 2026: actual 0.54, estimate 0.45, surprise +20.00%, Beat. Q4 2026, reported Oct 30, 2026: actual —, estimate 0.51, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates6.49B5.5B4.51B3.53BQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 14, 2025: actual 3.78B USD, estimate 4.73B USD, surprise -20.13%, Miss. Q2 2025, reported May 2, 2025: actual 3.98B USD, estimate 5.31B USD, surprise -25.05%, Miss. Q3 2025, reported Jul 25, 2025: actual 3.99B USD, estimate 5.46B USD, surprise -26.84%, Miss. Q4 2025, reported Oct 24, 2025: actual 4.33B USD, estimate 5.58B USD, surprise -22.33%, Miss. Q1 2026, reported Feb 13, 2026: actual 5.89B USD, estimate 5.68B USD, surprise +3.61%, Beat. Q2 2026, reported May 1, 2026: actual 5.94B USD, estimate 5.8B USD, surprise +2.35%, Beat. Q3 2026, reported Jul 31, 2026: actual 6.06B USD, estimate 5.9B USD, surprise +2.79%, Beat. Q4 2026, reported Oct 30, 2026: actual —, estimate 6.24B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$18.20

2.26% downside
Past 12 months12-month forecastHigh $18.20Average $18.20Low $18.20

Rating distribution

6 ratings
Strong buy117%
Buy233%
Hold233%
Sell117%
Strong sell00%

Corporate actions

Corporate action history

Stock split

Effective Aug 30, 2022

13:14

Stock split

Effective Nov 7, 2008

1:20

Stock split

Effective Sep 10, 2008

41:40

NWG peers

ETFs holding NWG

Funds reporting this stock among their holdings, ordered by reported position size.

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