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NatWest Group plc (NWG) 10-Year Financial Performance & Capital Metrics

NWG • • Banking & Credit
Financial ServicesDiversified BanksRegional & Domestic Diversified BanksEuropean Domestic Banking Leaders
AboutNatWest 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 operates through Retail Banking, Commercial Banking, Private Banking, RBS International, and NatWest Markets segments. The Retail Banking segment offers a range of banking products and related financial services, such as current accounts, mortgages, personal unsecured lending, and personal deposits, as well as mobile and online banking services. The Commercial Banking segment offers banking and financing solutions to start-up, SME, commercial, corporate, and institutional customers. The Private Banking segment provides private banking and wealth management products for high-net-worth individuals and their business interests. The RBS International segment offers banking various products and services to institutional customers. It also operates in wholesale branches and fund depositary service businesses. The NatWest Markets segment provides services to corporate and institutional customers for the management of financial risks for achieving short-term and long-term sustainable financial goals. NatWest Group plc operates approximately 800 branches and 16,000 physical points of presence. The company was formerly known as The Royal Bank of Scotland Group plc and changed its name to NatWest Group plc in July 2020. NatWest Group plc was founded in 1727 and is headquartered in Edinburgh, the United Kingdom.Show more
  • Net Interest Income $11.28B +2.0%
  • Total Revenue $28.57B +101.6%
  • Net Income $4.8B +3.6%
  • Return on Equity 12.54% -0.3%
  • Net Interest Margin 1.59% -0.2%
  • Efficiency Ratio 29.61% -45.1%
  • ROA 0.69% +4.5%
  • Equity / Assets 5.56% +3.6%
  • Book Value per Share 9.25 +14.6%
  • Tangible BV/Share 7.47 +16.4%
  • Debt/Equity 1.67 +3.6%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Efficient operations: 29.6% efficiency ratio
  • ✓Healthy dividend yield of 2.5%
  • ✓Share count reduced 7.6% through buybacks

✗Weaknesses

  • ✗Weak NIM of 1.6%
  • ✗Thin capital base

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.45%
5Y13.68%
3Y34.47%
TTM-

Profit (Net Income) CAGR

10Y-
5Y6.29%
3Y13.69%
TTM18.09%

EPS CAGR

10Y-
5Y13.61%
3Y25.21%
TTM22.92%

ROCE

10Y Avg0.91%
5Y Avg1.43%
3Y Avg1.96%
Latest2.72%

Peer Comparison

European Domestic Banking Leaders
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
INGING Groep N.V.83.84B28.9217.5313.77%26.6%12.29%3.34
NWGNatWest Group plc68.45B17.1416.17101.57%16.81%12.5%1.01%1.67

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Net Interest Income+8.77B8.71B8.99B8.66B7.8B7.39B7.54B9.84B11.05B11.28B
NII Growth %-0.05%-0.01%0.03%-0.04%-0.1%-0.05%0.02%0.31%0.12%0.02%
Net Interest Margin %----------
Interest Income11.93B11.26B11.03B11.05B11.13B9.71B9.23B12.64B21.03B25.19B
Interest Expense3.16B2.55B2.05B2.39B3.33B2.32B1.7B2.79B9.98B13.91B
Loan Loss Provision0000000-2.79B-9.98B0
Non-Interest Income+4.16B3.66B3.73B4.68B3.92B3.37B2.51B343M-6.86B3.38B
Non-Interest Income %----------
Total Revenue+16.09B14.92B14.76B15.73B15.05B13.08B11.75B12.98B14.17B28.57B
Revenue Growth %-0.13%-0.07%-0.01%0.07%-0.04%-0.13%-0.1%0.1%0.09%1.02%
Non-Interest Expense15.63B16.45B10.48B9.98B7.74B11.31B7.67B7.3B7.64B8.46B
Efficiency Ratio----------
Operating Income+1.06B-3.15B3.83B4.04B3.98B-553M4.07B5.68B6.53B6.2B
Operating Margin %----------
Operating Income Growth %-0.74%-3.97%2.21%0.06%-0.01%-1.14%8.37%0.39%0.15%-0.05%
Pretax Income+-2.7B-4.08B2.24B3.36B3.98B-553M3.84B5.13B6.18B6.2B
Pretax Margin %----------
Income Tax+23M1.17B731M1.21B439M74M996M1.27B1.43B1.47B
Effective Tax Rate %----------
Net Income+-1.59B-5.2B1.47B2.16B3.54B-372M3.27B3.59B4.64B4.8B
Net Margin %----------
Net Income Growth %0.42%-2.26%1.28%0.47%0.64%-1.11%9.78%0.1%0.29%0.04%
Net Income (Continuing)-2.73B-5.25B1.42B2.15B3.54B-627M2.85B3.86B4.74B4.73B
EPS (Diluted)+-0.36-1.280.140.280.56-0.170.540.680.981.06
EPS Growth %0.45%-2.56%1.11%1%1%-1.3%4.18%0.26%0.44%0.08%
EPS (Basic)-0.36-1.280.140.280.56-0.170.540.680.981.06
Diluted Shares Outstanding5.37B5.45B5.54B5.6B5.62B5.62B5.41B4.96B4.61B4.26B

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash & Short Term Investments+1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Cash & Due from Banks79.4B74.25B98.34B88.9B81.04B124.64B177.82B145.06B104.52B93.05B
Short Term Investments01000K1000K-1000K1000K1000K1000K000
Total Investments+345.97B320.21B216.44B213.36B185.28B222.93B174.32B443.38B421.52B428.28B
Investments Growth %-0.22%-0.07%-0.32%-0.01%-0.13%0.2%-0.22%1.54%-0.05%0.02%
Long-Term Investments345.97B320.21B216.44B267.45B120.41B137.76B90.92B443.38B421.52B428.28B
Accounts Receivables001000K1000K1000K1000K1000K1000K1000K0
Goodwill & Intangibles+----------
Goodwill5.56B5.56B5.56B5.61B5.61B5.61B5.52B5.52B5.68B5.67B
Intangible Assets979M922M985M1.01B1.01B1.05B1.2B1.59B1.93B1.91B
PP&E (Net)4.48B4.59B4.6B4.35B4.93B4.42B4.23B4.24B4.23B3.97B
Other Assets-2.63B-1.8B-1.74B-224.33B443.5B439.41B417.09B-307.41B152.26B173.22B
Total Current Assets79.73B75.44B99.73B89.7B146.57B210.35B261.84B145.39B105.16B93.05B
Total Non-Current Assets356.99B331.28B227.59B224.33B576.47B589.14B520.15B149.5B587.51B614.93B
Total Assets+815.41B798.66B738.06B694.24B723.04B799.49B781.99B720.05B692.67B707.99B
Asset Growth %-0.22%-0.02%-0.08%-0.06%0.04%0.11%-0.02%-0.08%-0.04%0.02%
Return on Assets (ROA)-0%-0.01%0%0%0%-0%0%0%0.01%0.01%
Accounts Payable0000000000
Total Debt+51B46.66B43.28B49.91B56.88B56.53B58.33B39.93B60.07B65.92B
Net Debt-28.41B-27.59B-55.06B-38.99B-24.17B-68.11B-119.49B-105.13B-44.44B-27.13B
Long-Term Debt000056.88B56.53B58.33B39.93B60.07B65.92B
Short-Term Debt0000000000
Other Liabilities-1.24B-1.15B-1.05B-905M192.87B207.21B152.44B643.62B127.79B125.11B
Total Current Liabilities369B334.44B110.45B228.54B429.74B491.92B529.41B187.53B467.62B477.58B
Total Non-Current Liabilities761.26B749.25B688.96B647.75B249.74B263.74B210.78B683.56B187.87B191.03B
Total Liabilities761.26B749.25B688.96B647.75B679.48B755.67B740.19B683.56B655.49B668.61B
Total Equity+54.15B49.4B49.09B46.49B43.56B43.82B41.8B36.5B37.19B39.38B
Equity Growth %-0.1%-0.09%-0.01%-0.05%-0.06%0.01%-0.05%-0.13%0.02%0.06%
Equity / Assets (Capital Ratio)----------
Return on Equity (ROE)-0.03%-0.1%0.03%0.05%0.08%-0.01%0.08%0.09%0.13%0.13%
Book Value per Share10.079.068.868.307.757.807.727.358.079.25
Tangible BV per Share----------
Common Stock11.63B11.82B11.96B16.11B12.09B12.13B11.47B10.54B10.84B8.97B
Additional Paid-in Capital25.43B25.69B887M1.03B1.09B1.11B1.88B1.16B01.16B
Retained Earnings-4.02B-12.94B17.13B14.31B13.95B12.57B12.97B10.02B10.64B11.43B
Accumulated OCI36.94B8.7B3.45B3.43B000256M018.66B
Treasury Stock-107M-132M-43M-21M-42M-24M-371M-258M0-868M
Preferred Stock3.31B2.56B2.56B496M000500K0500K

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+918M-3.65B38.74B-228M-3.69B29.09B53.69B-43.6B-223M1.77B
Operating CF Growth %1.05%-4.98%11.61%-1.01%-15.2%8.88%0.85%-1.81%0.99%8.95%
Net Income-937M-4.08B2.24B3.36B4.23B-351M4.31B4.87B4.64B6.28B
Depreciation & Amortization1.18B778M808M718M1.49B914M923M833M934M1.06B
Deferred Taxes000000-49M-60M00
Other Non-Cash Items-7.91B-8.76B-6.45B-7.7B1.51B1.72B1.9B-853M23.77B1.71B
Working Capital Changes8.59B8.41B42.15B3.4B-10.93B26.82B46.61B-48.45B-29.62B-7.27B
Cash from Investing+-4.87B-4.36B-6.48B-7.96B-716M7.55B3.06B19.06B-14.69B-12.7B
Purchase of Investments-14.13B-11.61B-17.21B-16.18B-21.34B-18.82B-10.15B-23.51B-44.91B-53.96B
Sale/Maturity of Investments1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Net Investment Activity----------
Acquisitions391M-886M-199M-481M-84M-70M-3.49B5.42B5.33B-1.31B
Other Investing1.43B447M405M264M1.28B866M746M813M1.24B1.41B
Cash from Financing+-940M-5.11B-8.21B-6.29B-1.96B90M-2.6B-10.65B-23.52B-1.89B
Dividends Paid-416M-504M-612M-803M-3.42B-381M-1.02B-3.21B-1.7B-1.8B
Share Repurchases-1.36B-1.29B-779M-2.83B-21M-2M-1.81B-2.05B-2.42B-2.72B
Stock Issued313M0395M166M17M2.22B937M001.39B
Net Stock Activity----------
Debt Issuance (Net)-1000K-1000K-1000K-1000K1000K-1000K1000K-1000K1000K1000K
Other Financing3.57B11.73B183M1.76B609M-1.25B-971M-1.08B-26.81B-1.34B
Net Change in Cash+-4.31B-5.02B24.04B-13.79B-8.35B38.61B51.51B-32.26B-39.63B-13.98B
Exchange Rate Effect1000K1000K-1000K1000K-1000K1000K-1000K1000K-1000K-1000K
Cash at Beginning107.9B103.59B98.57B122.61B108.94B100.59B139.2B190.71B158.45B118.82B
Cash at End103.59B98.57B122.61B108.81B100.59B139.2B190.71B158.45B118.82B104.84B
Interest Paid0000000000
Income Taxes Paid0000000000
Free Cash Flow+135M-4.56B37.61B-847M-4.25B28.72B52.79B-44.24B-14.92B694M
FCF Growth %1.01%-34.79%9.24%-1.02%-4.02%7.75%0.84%-1.84%0.66%1.05%

Banking Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-2.79%-10.04%2.99%4.52%7.86%-0.85%7.63%9.17%12.58%12.54%
Return on Assets (ROA)-0.17%-0.64%0.19%0.3%0.5%-0.05%0.41%0.48%0.66%0.69%
Net Interest Margin1.08%1.09%1.22%1.25%1.08%0.92%0.96%1.37%1.6%1.59%
Efficiency Ratio97.17%110.27%70.97%63.44%51.41%86.48%65.32%56.26%53.92%29.61%
Equity / Assets6.64%6.19%6.65%6.7%6.02%5.48%5.35%5.07%5.37%5.56%
Book Value / Share10.079.068.868.37.757.87.727.358.079.25
NII Growth-5.3%-0.67%3.2%-3.68%-9.9%-5.26%1.98%30.62%12.26%2.05%
Dividend Payout--41.55%37.19%96.75%-31.09%89.3%36.73%37.48%

Revenue by Geography

2024
Europe857M
Europe Growth-
UNITED STATES297M
UNITED STATES Growth-
RoW102M
RoW Growth-

Frequently Asked Questions

Valuation & Price

NatWest Group plc (NWG) has a price-to-earnings (P/E) ratio of 16.2x. This is roughly in line with market averages.

Growth & Financials

NatWest Group plc (NWG) grew revenue by 101.6% over the past year. This is strong growth.

Yes, NatWest Group plc (NWG) is profitable, generating $5.25B in net income for fiscal year 2024 (16.8% net margin).

Dividend & Returns

Yes, NatWest Group plc (NWG) pays a dividend with a yield of 2.47%. This makes it attractive for income-focused investors.

NatWest Group plc (NWG) has a return on equity (ROE) of 12.5%. This is reasonable for most industries.

Industry Metrics

NatWest Group plc (NWG) has a net interest margin (NIM) of 1.6%. NIM has been under pressure due to interest rate environment.

NatWest Group plc (NWG) has an efficiency ratio of 29.6%. This is excellent, indicating strong cost control.

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