NatWest Group plc (NWG) P/E Ratio History
Historical price-to-earnings valuation from 2017 to 2025
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NWG Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 8, 2026, NatWest Group plc (NWG) trades at a price-to-earnings ratio of 4.2x, with a stock price of $15.37 and trailing twelve-month earnings per share of $2.88.
The current P/E is 20% below its 5-year average of 5.3x. Over the past five years, NWG's P/E has ranged from a low of 2.9x to a high of 9.1x, placing the current valuation at the 35th percentile of its historical range.
Compared to the Financial Services sector median P/E of 13.1x, NWG trades at a 68% discount to its sector peers. The sector includes 775 companies with P/E ratios ranging from 0.0x to 195.8x.
Relative to the broader market, NWG trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NWG DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
NWG P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $306B | 14.7 | 0.33 | -2% | |
| $80B | 10.4 | 0.28 | +17% | |
| $77B | 14.4 | 0.35 | +8% | |
| $60B | 8.7Lowest | 0.08Best | +126%Best | |
| $86B | 12.0 | 0.44 | +28% | |
| $138B | 23.7 | 21.49 | +23% | |
| $826B | 15.5 | 1.19 | +22% | |
| $401B | 13.8 | 0.90 | +19% | |
| $245B | 14.7 | 2.63 | +11% | |
| $226B | 21.7 | - | +47% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
NWG Historical P/E Data (2017–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $17.50 | $2.30 | 7.6x | +5% |
| FY2025 Q3 | $14.15 | $2.22 | 6.4x | -12% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $14.15 | $2.38 | 5.9x | -18% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $11.92 | $2.34 | 5.1x | -29% |
| FY2024 Q4 | $10.17 | $2.12 | 4.8x | -34% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $9.36 | $2.08 | 4.5x | -38% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $8.03 | $1.91 | 4.2x | -42% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $6.80 | $1.79 | 3.8x | -47% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $5.63 | $1.91 | 2.9x | -59% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $5.83 | $1.87 | 3.1x | -57% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $6.12 | $1.78 | 3.4x | -52% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $6.60 | $1.74 | 3.8x | -47% |
Average P/E for displayed period: 7.2x
Full NWG Stock Analysis
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Start ComparisonNWG — Frequently Asked Questions
Quick answers to the most common questions about buying NWG stock.
Is NWG stock overvalued or undervalued?
NWG trades at 4.2x P/E, below its 5-year average of 5.3x. At the 35th percentile of historical range, the stock is priced at a discount to its own history.
How does NWG's valuation compare to peers?
NatWest Group plc P/E of 4.2x compares to sector median of 13.1x. The discount suggests lower growth expectations or higher risk.
What is NWG's PEG ratio?
NWG PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2017-2025.