Last 47 quarters of trend data · Financial Services · Banks - Diversified
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 4.66 | 5.51 | 5.17 | 6.43 | 8.84 | 5.90 | 4.81 | 4.24 | 4.18 | 3.58 | 4.25 | 2.51 | 3.74 | 3.48 | 3.17 | 3.11 | 4.16 | 3.67 | 4.50 | 10.28 | 6.56 |
| — | -6.6% | +7.6% | +51.8% | +111.6% | +64.5% | +13.1% | +68.6% | +11.8% | +3.1% | +33.9% | -19.1% | -10.1% | -5.2% | -29.5% | -69.8% | -36.6% | +16.0% | -31.5% | — | -60.9% | |
| P/S Ratio | 1.50 | 1.88 | 1.72 | 2.06 | 1.66 | 1.81 | 1.53 | 1.38 | 1.31 | 1.19 | 1.35 | 1.09 | 0.92 | 0.97 | 1.02 | 1.00 | 0.95 | 1.09 | 1.34 | 1.87 | 1.63 |
| — | +3.7% | +12.2% | +49.3% | +27.2% | +52.2% | +13.8% | +27.3% | +41.7% | +22.8% | +31.9% | +8.2% | -2.9% | -11.0% | -23.7% | -46.4% | -41.8% | -32.2% | -15.1% | +58.1% | +92.7% | |
| P/B Ratio | 0.60 | 0.81 | 0.69 | 0.83 | 0.68 | 0.69 | 0.59 | 0.53 | 0.51 | 0.46 | 0.49 | 0.42 | 0.36 | 0.43 | 0.42 | 0.43 | 0.35 | 0.37 | 0.41 | 0.42 | 0.42 |
| — | +17.6% | +17.1% | +56.8% | +33.9% | +48.9% | +18.7% | +27.3% | +39.9% | +7.4% | +17.7% | -3.1% | +3.4% | +18.0% | +2.3% | +2.9% | -16.1% | -6.4% | +7.2% | +33.6% | +120.1% | |
| P/FCF | 4.32 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 1.29 | 3.76 | -4.58 | 2.45 | -5.01 | 0.99 | -8.14 | -0.87 | -10.33 | -4.63 | -14.31 | -4.80 | -16.25 | -5.85 | -12.41 | -11.25 | -26.52 | -17.11 | -25.42 | -33.44 | -29.50 |
| — | +279.0% | +43.8% | +380.9% | +51.5% | +121.5% | +43.1% | +81.9% | +36.4% | +21.0% | -15.3% | +57.3% | +38.7% | +65.8% | +51.2% | +66.4% | +10.1% | -52.4% | +4.4% | +63.9% | +25.9% | |
| EV / EBIT | 1.49 | 3.76 | -5.21 | 2.82 | -5.69 | 1.16 | -9.33 | -1.05 | -11.85 | -5.26 | -17.24 | -5.76 | -18.86 | -6.70 | -13.85 | -12.99 | -31.40 | -19.80 | -29.51 | -56.32 | -35.51 |
| — | +225.6% | +44.2% | +369.4% | +52.0% | +122.0% | +45.9% | +81.8% | +37.2% | +21.4% | -24.5% | +55.6% | +39.9% | +66.2% | +53.1% | +76.9% | +11.6% | -56.5% | +9.9% | +85.7% | +42.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.3% | 58.3% | 59.0% | 58.0% | 57.4% | 55.0% | 54.8% | 52.0% | 51.4% | 51.2% | 50.5% | 51.8% | 54.6% | 64.2% | 70.8% | 76.8% | 82.2% | 86.3% | 88.2% | 85.3% | 86.2% |
| — | +5.9% | +7.8% | +11.6% | +11.8% | +7.4% | +8.4% | +0.4% | -5.9% | -20.2% | -28.6% | -32.6% | -33.6% | -25.6% | -19.7% | -9.9% | -4.7% | +0.8% | +2.4% | -3.0% | +7.0% | |
| Operating Margin | 26.1% | 29.2% | 27.5% | 26.2% | 28.9% | 24.4% | 24.9% | 20.6% | 23.0% | 23.8% | 19.3% | 18.3% | 20.8% | 29.4% | 33.2% | 28.1% | 27.6% | 36.7% | 35.9% | 16.6% | 31.3% |
| — | +19.5% | +10.4% | +27.7% | +26.0% | +2.5% | +28.9% | +12.5% | +10.2% | -18.9% | -41.8% | -34.9% | -24.6% | -19.8% | -7.5% | +69.3% | -11.8% | -26.8% | +22.0% | +752.1% | +165.5% | |
| Net Margin | 19.8% | 21.5% | 20.4% | 20.0% | 22.3% | 18.4% | 18.5% | 18.3% | 17.1% | 17.5% | 14.2% | 18.7% | 14.5% | 17.9% | 24.5% | 26.0% | 6.5% | 29.7% | 26.4% | 18.2% | 23.8% |
| — | +16.9% | +10.4% | +9.1% | +30.3% | +4.7% | +29.9% | -2.3% | +17.8% | -2.2% | -41.9% | -28.0% | +124.4% | -39.5% | -7.2% | +43.2% | -72.9% | -30.0% | +11.5% | +2949.0% | +390.8% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.2% | 3.9% | 3.5% | 3.5% | 4.0% | 3.2% | 3.3% | 3.4% | 3.3% | 3.3% | 2.6% | 3.5% | 2.6% | 3.0% | 3.6% | 3.7% | 0.7% | 2.9% | 2.2% | 1.2% | 1.7% |
| — | +21.1% | +5.3% | +1.9% | +21.7% | -3.8% | +27.2% | -3.9% | +24.0% | +11.2% | -27.9% | -4.2% | +282.2% | +4.3% | +62.6% | +211.8% | -60.1% | -6.2% | +34.9% | +2559.0% | +410.8% | |
| ROA | 0.8% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.2% | 0.1% | 0.2% | 0.2% | 0.2% | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% |
| — | +22.1% | +8.6% | +9.6% | +29.9% | +2.7% | +34.5% | +2.4% | +36.0% | +16.6% | -25.7% | +5.2% | +313.3% | +10.6% | +64.9% | +173.0% | -66.9% | -18.0% | +26.6% | +2550.0% | +421.9% | |
| ROIC | 5.3% | 2.0% | 1.9% | 1.8% | 2.0% | 1.7% | 1.8% | 1.5% | 1.7% | 1.8% | 1.4% | 1.4% | 1.5% | 1.9% | 2.0% | 1.6% | 1.2% | 1.4% | 1.2% | 0.5% | 1.0% |
| — | +22.1% | +4.8% | +20.1% | +18.2% | -6.0% | +25.4% | +9.6% | +18.5% | -7.1% | -29.6% | -15.4% | +22.2% | +31.1% | +60.7% | +255.7% | +22.3% | -7.0% | -2.1% | +404.4% | +195.4% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.69 | 1.74 | 0.15 | 1.69 | 0.14 | 1.67 | 0.17 | 1.67 | 0.17 | 1.67 | 0.17 | 1.62 | 0.18 | 1.74 | 0.18 | 1.52 | 0.19 | 1.46 | 0.21 | 1.40 | 0.21 |
| — | +4.4% | -9.7% | +0.7% | -16.3% | -0.1% | -1.7% | +3.6% | -1.2% | -4.3% | -5.8% | +6.6% | -7.1% | +19.2% | -13.2% | +8.6% | -8.9% | +15.1% | +10.5% | +513.8% | -14.6% | |
| Debt / EBITDA | 8.10 | 33.17 | 2.87 | 32.08 | 2.47 | 33.90 | 3.37 | 36.70 | 3.47 | 32.40 | 4.05 | 39.84 | 4.02 | 29.92 | 3.38 | 33.61 | 5.13 | 35.51 | 5.78 | 76.45 | 7.38 |
| — | -2.1% | -14.8% | -12.6% | -28.8% | +4.6% | -16.7% | -7.9% | -13.5% | +8.3% | +19.9% | +18.5% | -21.6% | -15.7% | -41.6% | -56.0% | -30.6% | +11.9% | -22.0% | +108.7% | -61.1% | |
| Current Ratio | 0.20 | 0.19 | 0.25 | 0.20 | 0.26 | 0.23 | 0.29 | 0.22 | 0.31 | 0.25 | 0.23 | 0.38 | 0.37 | 0.39 | 0.38 | 0.41 | 0.43 | 0.47 | 0.45 | 0.49 | 0.41 |
| — | -16.2% | -15.1% | -8.5% | -14.5% | -5.2% | +26.8% | -40.8% | -16.9% | -36.7% | -40.5% | -7.4% | -13.4% | -18.2% | -15.0% | -17.5% | +4.5% | +16.2% | +19.1% | -99.6% | — | |
| Quick Ratio | 0.20 | 0.19 | 0.25 | 0.20 | 0.26 | 0.23 | 0.29 | 0.22 | 0.31 | 0.25 | 0.23 | 0.38 | 0.37 | 0.39 | 0.38 | 0.41 | 0.43 | 0.47 | 0.45 | 0.49 | 0.41 |
| — | -16.2% | -15.1% | -8.5% | -14.5% | -5.2% | +26.8% | -40.8% | -16.9% | -36.7% | -40.5% | -7.4% | -13.4% | -18.2% | -15.0% | -17.5% | +4.5% | +16.2% | +19.1% | -99.6% | — | |
| Interest Coverage | 0.60 | 0.73 | 0.67 | 0.63 | 0.68 | 0.54 | 0.55 | 0.43 | 0.47 | 0.49 | 0.39 | 0.38 | 0.46 | 0.82 | 1.14 | 1.21 | 1.55 | 2.68 | 3.04 | 1.12 | 2.27 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying NWG stock.
NatWest Group plc's current P/E is 4.7x. The average P/E over the last 4 quarters is 6.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
NatWest Group plc's current operating margin is 26.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking NatWest Group plc's business trajectory between earnings reports.