NWG Financial ServicesBeta data

NatWest Group plc

$15.48-1.78%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Financial Services
Industry: Banks - Regional
Country: United Kingdom
Market cap: 61.4B USD
Full-time employees: 59,000

Overall health

Strength: growing faster than most peersgrowing faster than peers
Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
About average: profitability

Ranks #128 of 791 banks & insurance companies (top 17%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

StockQuotient Score

66/ 100▲ 1 since Oct 27 close

Oct 5 65 → Nov 4 66 (+1)

Fundamentals: Yahoo Finance, not primary filings

Valuation

Is the price right?

78/100

Moderate▲ 3 since Oct 27 close

2/2 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 75 → 78

Share price -8.2%+4
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Earnings yield
▲ P/B

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield92.1%

Yahoo FinanceReported value40% base weight · Z-score 0.44Sector median: 0.7950 · MAD: 0.2843

Earnings yield12.7%

Yahoo Finance · trailing 12 monthsReported value60% base weight · Z-score 1.91Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

65/100

Moderate

1/1 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ EPS growth

Compare with peers

Behind the score

Earnings-per-share growth versus other banks and insurers.

Earnings per share growth26.9%

Yahoo Finance · fiscal year to Dec 2025Reported value100% base weight · Z-score 0.62Sector median: 0.1599 · MAD: 0.1775

Other data (not scored)

3-year revenue growth22.2%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0826 · MAD: 0.0558

Revenue growth3.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0866 · MAD: 0.0782

Profitability

Does it earn well?

56/100

Moderate

2/2 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ ROE
▼ ROA

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets0.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value50% base weight · Z-score -0.57Sector median: 0.0117 · MAD: 0.0062

Return on equity14.8%

Yahoo Finance · trailing 12 monthsReported value50% base weight · Z-score 1.04Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about NatWest

Is NatWest getting weaker?: Its latest SEC filing (Feb 17, 2026) showed no major changes. Its overall score is 66/100, up 1 since Oct 28, 2026.
How is NatWest valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 78/100 against 950 banks & insurance peers. Earnings yield 12.7% vs a peer median of 7.9% (stronger than 82% of peers).Earnings yield 12.7% vs peers 7.9% (stronger than 82% of peers).
Is NatWest growing?: Yes, faster than most of its peers. Growth scores 65/100 against 950 banks & insurance peers. Earnings per share growth 26.9% vs a peer median of 16.0% (stronger than 65% of peers).Earnings per share growth 26.9% vs peers 16.0% (stronger than 65% of peers).
How profitable is NatWest?: About as profitable as its peers. Profitability scores 56/100 against 950 banks & insurance peers. Return on equity 14.8% vs a peer median of 10.7% (stronger than 75% of peers).Return on equity 14.8% vs peers 10.7% (stronger than 75% of peers). Return on assets 0.8% vs a peer median of 1.2% (weaker than 67% of peers).Return on assets 0.8% vs peers 1.2% (weaker than 67% of peers).
How risky is NatWest?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Quarter ended Dec 31, 2025 · filed Feb 17, 2026 · compared with the quarter ended Jun 30, 2025

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	29.9B GBP	30.2B GBP	+1.3%
Net income (12 months)	5.2B GBP	5.8B GBP	+11.2%
Cash	102.9B GBP	95.4B GBP	−7.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in GBP, as reported

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Net margin	26.1%	21.7%	18.2%	16.4%	19.3%	▲ 2.9 pts
Return on assets (ROA)	0.4%	0.5%	0.7%	0.7%	0.8%	▲ 0.1 pts
Return on equity (ROE)	7.9%	9.9%	12.5%	12.2%	13.7%	▲ 1.5 pts

NWG price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

About average: profitability

Ranks #128 of 791 banks & insurance companies (top 17%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Questions investors ask about NatWest

Is NatWest getting weaker?

Its latest SEC filing (Feb 17, 2026) showed no major changes. Its overall score is 66/100, up 1 since Oct 28, 2026.

How is NatWest valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 78/100 against 950 banks & insurance peers. Earnings yield 12.7% vs a peer median of 7.9% (stronger than 82% of peers).Earnings yield 12.7% vs peers 7.9% (stronger than 82% of peers).

Is NatWest growing?

Yes, faster than most of its peers. Growth scores 65/100 against 950 banks & insurance peers. Earnings per share growth 26.9% vs a peer median of 16.0% (stronger than 65% of peers).Earnings per share growth 26.9% vs peers 16.0% (stronger than 65% of peers).

How profitable is NatWest?

About as profitable as its peers. Profitability scores 56/100 against 950 banks & insurance peers. Return on equity 14.8% vs a peer median of 10.7% (stronger than 75% of peers).Return on equity 14.8% vs peers 10.7% (stronger than 75% of peers). Return on assets 0.8% vs a peer median of 1.2% (weaker than 67% of peers).Return on assets 0.8% vs peers 1.2% (weaker than 67% of peers).

How risky is NatWest?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous quarter

Latest quarter

Change

Revenue (12 months)

29.9B GBP

30.2B GBP

+1.3%

Net income (12 months)

5.2B GBP

5.8B GBP

+11.2%

Cash

102.9B GBP

95.4B GBP

−7.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Net margin

26.1%

21.7%

18.2%

16.4%

19.3%

▲ 2.9 pts

Return on assets (ROA)

0.4%

0.5%

0.7%

0.8%

▲ 0.1 pts

Return on equity (ROE)

7.9%

9.9%

12.5%

12.2%

13.7%

▲ 1.5 pts