57/100BNatWest Group financials
Yes. NatWest Group earned 6.27B GBP of net income over the last twelve months, 20.4% of its revenue. It made a profit in 26 of its 41 fiscal years since 1985. Its last loss was in fiscal year 2020.
- Revenue (TTM)
- 30.73B GBP
- Net income (TTM)
- 6.27B GBP
- Cash and short-term investments
- 70.65B GBP
- Total debt
- 71.30B GBP
- Shareholders' equity
- 38.83B GBP
Cash, debt and equity as of 30 Sept 2026.
NatWest Group earnings
Revenue
EPS
| Period | Report date | EPS estimate | Reported EPS | Surprise | EPS growth | Revenue estimate | Reported revenue | Surprise | Revenue growth |
|---|---|---|---|---|---|---|---|---|---|
| Q4 FY2026 | 0.43 | — | — | -6.52% | 6.19B | — | — | +5.14% | |
| Q3 FY2026 | 0.51 | 0.52 | +1.96% | -1.89% | 6.18B | 6.22B | +0.56% | +43.49% | |
| Q2 FY2026 | 0.45 | 0.54 | +20.00% | +31.71% | 5.90B | 6.06B | +2.79% | +51.87% | |
| Q1 FY2026 | 0.44 | 0.48 | +9.09% | +23.08% | 5.80B | 5.94B | +2.35% | +49.16% | |
| Q4 FY2025 | 0.38 | 0.46 | +21.05% | +24.32% | 5.68B | 5.89B | +3.61% | +55.93% | |
| Q3 FY2025 | 0.42 | 0.53 | +26.92% | +47.22% | 5.58B | 4.33B | -22.33% | +15.71% | |
| Q2 FY2025 | 0.37 | 0.41 | +12.27% | +17.14% | 5.46B | 3.99B | -26.84% | +9.34% |
| Period | EPS estimate | Reported EPS | Surprise | EPS growth | Revenue estimate | Reported revenue | Surprise | Revenue growth |
|---|---|---|---|---|---|---|---|---|
| FY2027 | 2.82 | — | — | +6.55% | 26.18B | — | — | +7.29% |
| FY2026 | 2.65 | — | — | +48.06% | 24.40B | — | — | +34.15% |
| FY2025 | 2.37 | 1.79 | -24.45% | +33.58% | 22.19B | 18.19B | -18.04% | +16.62% |
| FY2024 | 1.55 | 1.34 | -13.50% | +16.52% | 18.25B | 15.60B | -14.55% | -0.46% |
| FY2023 | 1.38 | 1.15 | -16.63% | +27.78% | 18.38B | 15.67B | -14.74% | +13.08% |
| FY2022 | 0.90 | 0.90 | +0.21% | +23.29% | 15.38B | 13.86B | -9.91% | -15.25% |
NatWest Group growth and profitability
Full income statement- Revenue (TTM)
- 30.73B GBP
- Net income (TTM)
- 6.27B GBP
- Gross margin
- 57.76%
- Operating margin
- 27.59%
- Net margin
- 20.41%
Revenue / Net income
How NatWest Group makes its money
FY2025, in GBP. Each band is as wide as its money; the percentage is its share of revenue.
FY2025, in GBP. Each band is as wide as its money; the percentage is its share of revenue.
NatWest Group revenue breakdown
By region
| Region | Revenue | Share of revenue | Change on the year |
|---|---|---|---|
| Europe | 1.10B | 73.6% | +28.7% |
| United States | 294.00M | 19.6% | -1.0% |
| RoW | 101.00M | 6.7% | -1.0% |
Operating and free cash flow
Full cash flow statementNatWest Group financial health
Full balance sheet- Cash and short-term investments
- 70.65B GBP
- Total debt
- 71.30B GBP
- Net cash
- -651.33M GBP
- Free cash flow (TTM)
- 0.00 GBP
- Current ratio
- 14.77
- Debt to equity
- 1.84
- Piotroski score
- 5 / 9
- Altman Z-score
- 0.25
Cash, debt and free cash flow
Assets, liabilities and equity
NatWest Group valuation
- Price to earnings ratio (TTM)
- 3.94
- Forward P/E (FY2026)
- 5.88
- Price to sales (TTM)
- 0.77
- Price to book
- 0.61
- EV / EBITDA (TTM)
- 2.69
Capital structure
Valuation over time
NatWest Group against its own history
Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.
Its peers: M&T Bank, Huntington Bancshares, Citizens Financial Group, First Citizens BancShares, Regions Financial, and KeyCorp, the US Banks - Regional companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.
- P/E (today)Below its median3.91.96.5
- Gross marginBelow its median56.3%51.3%85.9%Against its peers: 7 of 7Peers' median 66.0%
- Operating marginAt its median26.1%21.7%31.9%Against its peers: 3 of 7Peers' median 21.2%
- Net marginAt its median19.8%16.8%27.1%Against its peers: 3 of 7Peers' median 17.1%
- Return on equityHighest in 5 years13.7%7.8%13.7%Against its peers: 1 of 7Peers' median 9.4%
- Free cash flow marginAbove its median19.6%-274.0%438.5%Against its peers: 3 of 7Peers' median 18.5%
- Revenue growthBelow its median3.2%-8.0%53.3%Against its peers: 3 of 7Peers' median -0.2%
- EPS growthAbove its median27.4%8.2%44.1%Against its peers: 2 of 6Peers' median 16.1%
- Debt to EBITDALowest in 5 years8.10×8.10×12.24×Against its peers: 6 of 7Peers' median 4.38×
- Current ratioLowest in 5 years0.200.200.49Against its peers: 6 of 7Peers' median 0.54
Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.
NatWest Group dividends
- Annual dividend
- 0.65 GBP
- Dividend yield (indicated)
- 4.14%
- Payout ratio
- 23.87%
- Years of dividend growth
- 1
- Frequency
- Semi-annual
- Last payment
- 0.32 GBP
- Last ex-dividend date
- 14 Aug 2026
- Last payment date
- 18 Sept 2026
Dividends per share
NatWest Group ownership
- Institutions
- 10.02%
- Institutional holders
- 434 (+15)
- Free float
- 97.12%
Who owns the shares
Shares free to trade
Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.
Shares outstanding
Common questions about NatWest Group's financials
Source: Financial Modeling Prep