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NatWest Group plc (NWG.L)

GBp651.20 -3.80 (-0.58%)
GB LSE Financial Services Banks - Diversified
Address Gogarburn EH12 1HQ
Edinburgh, GB
CEO John-Paul Thwaite
IPO 1988-07-01
ISIN GB00BM8PJY71

Explore sections of this company profile

Also trades on Deutsche Börse · RYS1.DE (EUR) London Stock Exchange · NWG.L (GBp) New York Stock Exchange · NWG (USD) Other OTC · RBSPF (USD) Swiss Exchange · RBS.SW (CHF)
Description

NatWest Group plc, a venerable financial institution established in Edinburgh, UK, in 1727, delivers a comprehensive array of banking and financial services. Serving a broad spectrum of clients, including individual consumers, small and medium-sized businesses, large corporations, and institutional customers, its operations span the United Kingdom and extend internationally. The company's structure comprises five core divisions. Retail Banking provides everyday services like current and savings accounts, mortgages, and personal loans, augmented by mobile and online platforms. Commercial Banking furnishes financing and solutions tailored for start-ups, SMEs, and corporate entities. The Private Banking segment focuses on bespoke banking and wealth management for affluent individuals and their business interests. RBS International caters to institutional clients, also managing wholesale branches and fund depositary services. Finally, NatWest Markets assists corporate and institutional customers in strategically managing financial risks to meet both their immediate and long-term sustainable financial objectives. Formerly known as The Royal Bank of Scotland Group plc until its rebranding in July 2020, NatWest Group plc boasts a substantial physical presence, with approximately 800 branches and around 16,000 other points of access.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
GBp651.20 -3.80 (-0.58%)
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Volume Profile
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Liquidity & share structure
Average Volume
24M
Beta
0.82
Float Shares
7.93B
Free Float %
99.6%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-3.02% -2.42% -8.23% -5.24% -9.70% -13.50% +16.13% +115.77% +176.14% +149.79% -62.48%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (2 ratings, all time) Hold
Price Targets & DCF
Current price
651.20
DCF (Unlevered) 4,982.71 +665.2%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 59% Bullish
Rating 2026-05 Change
Strong Buy 2 -1
Buy 8 0
Hold 7 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
-0.52
Distress
Piotroski F-Score
5 / 9
Average
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
3 / 5
Medium
ROE Score
4 / 5
High
ROA Score
3 / 5
Medium
D/E Score
3 / 5
Medium
P/E Score
4 / 5
High
P/Book Score
3 / 5
Medium
Operational MOAT
  • Revenue growth
    +108.0% Q1'26: +94.8% (vs Q1'25)
  • EPS growth
    +26.4% Q1'26: +20.0% (vs Q1'25)
  • FCF margin
    Q1'26: +0.0% (vs Q1'25)
  • EBIT margin
    Q1'26: +27.5% (vs Q1'25)
  • ROIC
    Q1'26: -7.1% (vs Q1'25)
  • Share dilution
    -4.6% Q1'26: -2.0% (vs Q1'25)
  • Debt / EBITDA
    Q1'26: 0.72× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.83) × ERP
WACC = 39% × Ke + 61% × Kd (17.9%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 4,986.23 Current price: 651.20
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
15 Rev. Ana.
11 EPS Ana.
Dec 2027
15 Rev. Ana.
11 EPS Ana.
Dec 2028
14 Rev. Ana.
10 EPS Ana.
Dec 2029
9 Rev. Ana.
4 EPS Ana.
Dec 2030
13 Rev. Ana.
4 EPS Ana.
Revenue
16.09B
est: 13.92B (+15.6%)
14.92B
est: 12.08B (+23.5%)
14.76B
est: 12.93B (+14.2%)
15.73B
est: 13.23B (+18.9%)
15.05B
est: 12.13B (+24.1%)
7.69B
est: 11.02B (-30.2%)
11.75B
est: 10.67B (+10.1%)
12.98B
est: 12.96B (+0.1%)
14.17B
est: 13.75B (+3.0%)
14.34B
est: 14.57B (-1.5%)
29.84B
est: 16.45B (+81.4%)
18.00B
17.34B – 18.44B
+9.4% YoY
19.47B
18.41B – 20.60B
+8.2% YoY
20.26B
20.17B – 20.34B
+4.0% YoY
21.05B
20.09B – 21.94B
+3.9% YoY
21.46B
20.48B – 22.36B
+1.9% YoY
EBITDA
-1.52B
est: 5.26B (-128.9%)
-292.00M
est: 4.57B (-106.4%)
3.08B
est: 4.89B (-37.1%)
4.13B
est: 5.00B (-17.5%)
5.55B
est: 4.59B (+20.9%)
677.00M
est: 4.17B (-83.7%)
4.77B
est: 4.03B (+18.2%)
5.55B
est: 4.90B (+13.3%)
6.56B
est: 5.77B (+13.8%)
7.25B
est: 6.11B (+18.7%)
8.79B
est: 6.90B (+27.5%)
7.55B
7.27B – 7.74B
+9.4% YoY
8.17B
7.72B – 8.64B
+8.2% YoY
8.50B
8.46B – 8.53B
+4.0% YoY
8.83B
8.43B – 9.20B
+3.9% YoY
9.00B
8.59B – 9.38B
+1.9% YoY
EBIT
-1.18B
est: 4.84B (-124.4%)
-919.00M
est: 4.20B (-121.9%)
2.24B
est: 4.49B (-50.2%)
3.36B
est: 4.60B (-27.0%)
3.98B
est: 4.22B (-5.5%)
677.00M
est: 3.83B (-82.3%)
3.84B
est: 3.71B (+3.7%)
5.55B
est: 4.51B (+23.2%)
6.56B
est: 5.24B (+25.2%)
6.20B
est: 5.55B (+11.6%)
7.64B
est: 6.27B (+21.8%)
6.86B
6.61B – 7.03B
+9.4% YoY
7.42B
7.02B – 7.85B
+8.2% YoY
7.72B
7.69B – 7.75B
+4.0% YoY
8.03B
7.66B – 8.36B
+3.9% YoY
8.18B
7.81B – 8.52B
+1.9% YoY
Net Income
-1.59B
est: 1.65B (-196.7%)
-5.20B
est: 1.13B (-559.1%)
1.38B
est: 2.04B (-32.4%)
2.16B
est: 2.15B (+0.6%)
3.54B
est: 2.00B (+76.7%)
-727.00M
est: -506.03M (-43.7%)
3.27B
est: 2.02B (+62.0%)
3.59B
est: 2.65B (+35.2%)
4.64B
est: 3.87B (+19.8%)
4.80B
est: 4.02B (+19.4%)
5.83B
est: 5.27B (+10.7%)
5.74B
5.60B – 6.32B
+9.1% YoY
6.34B
6.26B – 7.71B
+10.5% YoY
6.66B
6.52B – 7.69B
+4.9% YoY
7.88B
7.41B – 8.31B
+18.3% YoY
— – —
-100.0% YoY
SGA
2.12B
est: 6.88B (-69.1%)
15.39B
est: 5.97B (+157.9%)
2.04B
est: 6.39B (-68.1%)
3.07B
est: 6.54B (-53.1%)
2.83B
est: 5.99B (-52.8%)
1.29B
est: 5.44B (-76.2%)
7.67B
est: 5.27B (+45.6%)
7.30B
est: 6.41B (+14.0%)
7.64B
est: 6.84B (+11.8%)
7.85B
est: 7.24B (+8.5%)
5.47B
est: 8.18B (-33.2%)
8.95B
8.62B – 9.17B
+9.4% YoY
9.68B
9.15B – 10.24B
+8.2% YoY
10.07B
10.03B – 10.11B
+4.0% YoY
10.47B
9.99B – 10.91B
+3.9% YoY
10.67B
10.18B – 11.12B
+1.9% YoY
EPS
-0.19
est: 0.19 (-198.1%)
-0.64
est: 0.13 (-581.3%)
0.07
est: 0.24 (-71.7%)
0.15
est: 0.25 (-40.5%)
0.28
est: 0.24 (+19.1%)
-0.07
est: -0.06 (-12.8%)
0.27
est: 0.24 (+14.0%)
0.34
est: 0.31 (+9.1%)
0.48
est: 0.48 (+0.5%)
0.53
est: 0.50 (+6.9%)
0.68
est: 0.65 (+4.7%)
0.72
0.69 – 0.78
+11.5% YoY
0.82
0.77 – 0.95
+13.2% YoY
0.90
0.80 – 0.95
+9.6% YoY
0.97
0.91 – 1.02
+8.0% YoY
— – —
-100.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-12 A- 4/5 3/5 4/5 3/5 3/5 4/5 3/5
2026-05-11 A- 4/5 3/5 4/5 3/5 3/5 4/5 3/5
2026-05-08 A- 4/5 3/5 4/5 3/5 3/5 4/5 3/5
2026-05-07 A- 4/5 3/5 4/5 3/5 3/5 4/5 3/5
2026-05-06 A- 4/5 3/5 4/5 3/5 3/5 4/5 3/5
2026-05-05 A- 4/5 3/5 4/5 3/5 3/5 4/5 3/5
2026-05-01 B 3/5 3/5 4/5 3/5 1/5 3/5 2/5
2026-04-30 B 3/5 3/5 4/5 3/5 1/5 3/5 2/5
2026-04-29 B 3/5 3/5 4/5 3/5 1/5 3/5 2/5
2026-04-28 B 3/5 3/5 4/5 3/5 1/5 3/5 2/5
2026-04-27 B 3/5 3/5 4/5 4/5 1/5 3/5 2/5
2026-04-24 B 3/5 3/5 4/5 4/5 1/5 3/5 2/5
2026-04-23 B 3/5 3/5 4/5 4/5 1/5 3/5 2/5
2026-04-22 B 3/5 3/5 4/5 4/5 1/5 3/5 2/5
2026-04-21 B+ 3/5 3/5 4/5 4/5 1/5 3/5 3/5
2026-04-20 B+ 3/5 3/5 4/5 4/5 1/5 3/5 3/5
2026-04-17 B+ 3/5 3/5 4/5 4/5 1/5 3/5 3/5
2026-04-16 B+ 3/5 3/5 4/5 4/5 1/5 3/5 3/5
2026-04-15 B+ 3/5 3/5 4/5 4/5 1/5 4/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
2.25B
OE per share TTM
0.28
Owner's Yield
5.03%
Maintenance CapEx ratio
76.32%
Maint CapEx / Avg PPE
28.6%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
128.6K
Shares Outstanding
7.96B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
John-Paul Thwaite Group Chief Executive Officer & Executive Director 3M male
Katie Murray Group Chief Financial Officer & Executive Director 2M female
Margaret Jobling Group Chief Marketing Officer female
Maria Kokkinou Group Chief People Officer female
Peter John Norton Group Director of Strategy, Economics & Corporate Development male
Scott Marcar Group Chief Information Officer male
Stephen Blackman Principal Economist, Strategy & Corporate Development male
Claire Kane Director of Investor Relations female
Will Luker Group Chief Legal Officer & General Counsel male
James Holian Chief Customer & Operations Officer male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits