profit from every $100 of sales.
$0$100
NatWest Group
$15.83+0.64% today
-2.4% in 1 year
1-year low $13.891-year high $19.42
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay $8.11 for every $1 of profit it makes in a year.
CheapExpensive
Not measured for banks and insurers: deposits and policy reserves count as debt, so the usual debt test says nothing about them.
Money in, money out
What NatWest Group sold, what it kept, and what it did with the cash.
Sales went from £13.4 billion in 2022 to £16.6 billion in 2025, with £5.83 billion of profit last year.
SalesProfit
NatWest Group handed back 85% of the cash it generated last year.
Buybacks £2.6B£2.4B
Free cash flow 2025£5.8B
Bought back its own shares£2.6B
Paid as dividends£2.4B
Cash vs. debt£85.3B vs. £71.8B
NatWest Group vs. similar companies
NatWest Group grows in the middle of these 5 and is the cheapest for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| NatWest Group | 8.1× · Cheap | ||
 JPMorgan Chase | 16.1× · Fair price | ||
 China Construction Bank | 9.3× · Cheap | ||
 Industrial and Commercial Bank of China | 8.6× · Cheap | ||
 Agricultural Bank of China | 8.9× · Cheap |
Compare NatWest Group with i BBCA ID SDR 1to2 · JPMorgan Chase · Mastercard · Moody's · S&P Global · Visa
AI analysis
An AI analyst reads NatWest Group's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of GBP | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 13,352 | 14,784 | 14,653 | 16,609 | |
| – | – | – | – | |
| – | – | – | – | |
| – | – | – | – | |
| 3,589 | 4,636 | 4,802 | 5,831 | |
| 0.67 | 0.95 | 1.06 | 1.35 | |
| – | – | – | – | |
| – | – | – | – | |
| 26.9% | 31.4% | 32.8% | 35.1% |
Balance sheet
| In millions of GBP | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 720,053 | 692,673 | 707,985 | 714,553 |
| Cash | 145,061 | 104,517 | 93,053 | 85,348 |
| Total debt | 55,316 | 60,074 | 65,922 | 71,826 |
| Total liabilities | 683,557 | 655,485 | 668,607 | 671,940 |
| 36,488 | 37,157 | 39,350 | 42,599 | |
| 4,970 | 4,606 | 4,255 | 4,065 | |
| – | – | – | – | |
| 9.8% | 12.5% | 12.2% | 13.7% |
Cash flow
| In millions of GBP | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| -43,597 | -17,438 | 1,772 | 7,072 | |
| 1,382 | 1,555 | 1,078 | 1,282 | |
| -44,979 | -18,993 | 694 | 5,790 | |
| Dividends paid | 3,205 | 1,703 | 1,800 | 2,376 |
| 2,054 | 2,416 | 2,716 | 2,558 | |
| – | – | – | – |
This is a bank or insurer, so cash-flow and debt ratios are left out: borrowing and lending is the business itself. Price to book and return on equity are the measures that matter here.
Valuation
- 8.1×
- 10.8×
- 0.31
- 1.0×
- 2.8×
- 12.3%
- 5.0%
Profitability
- 35.1%
- 3.1%
- 4.3%
- 14.6%
- 0.8%
Growth
- +7.5%
- +26.1%
- +23.3%
- −7.0%
How it ranks in Financial Services
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 40%of 754
Top 38%of 605
Top 20%of 883
Bottom 44%of 880
Top 17%of 929
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 1, 2026 | 0.48 | 0.44 | +9.1% |
| Feb 13, 2026 | 0.46 | 0.38 | +21.1% |
| Oct 24, 2025 | 0.53 | 0.42 | +26.9% |
| Jul 25, 2025 | 0.41 | 0.37 | +12.3% |
| May 2, 2025 | 0.39 | 0.34 | +13.6% |
| Feb 14, 2025 | 0.37 | 0.26 | +41.8% |
| Oct 25, 2024 | 0.36 | 0.31 | +17.6% |
| Jul 26, 2024 | 0.35 | 0.25 | +42.7% |
5.0%of the share price, paid each year
On $1,000 invested$50a year at today's yield, before tax
+23.3%2020 to 2025
Raised1 yearin a row, in our data
Paid per share, each year
$0.06 in 2018 → $0.64 in 2025
How safe it looks
40.7% of its profit
Room to growStretchedMore than it earns: 41.0%
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
5/7Passes 5 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
70Pass
Benjamin Graham
79Pass
Philip Fisher
81Pass
Peter Lynch
85Pass
Joel Greenblatt
27No pass
Charlie Munger
65Pass
Terry Smith
56No pass
Questions about NatWest Group
Is NatWest Group a good stock to buy?
A strong, very profitable business, and the price looks low. 5 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the NatWest Group AI analysis
What does NatWest Group do?
NatWest Group plc, together with its subsidiaries, provides banking and financial products and services to personal, commercial, corporate, and institutional customers in the United Kingdom and internationally. It is in Banks - Diversified, based in Edinburgh, United Kingdom, with 53,200 employees.
Does NatWest Group pay a dividend?
Yes. At today's price the dividend is 5.0% a year, about 41% of its yearly profit. In 2025 it paid out $2.38 billion in dividends.
Is NatWest Group stock halal?
No. NatWest Group does not pass our halal screen: its main business, banking, is not permitted. How we check
How has NatWest Group stock done over the past year?
Down 2.4% over the past twelve months, to $15.83. It traded between $13.89 and $19.42 and is 18.5% below its high.
Who are NatWest Group's competitors?
The largest listed companies in the same industry are JPMorgan Chase, China Construction Bank, Industrial and Commercial Bank of China and Agricultural Bank of China. The peers table on this page compares their profit, growth and price with NatWest Group's.
Prices: daily closes to Nov 13, 2026. Fundamentals: company reports via invest-like data.