NatWest Group plc (NWG) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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NWG Revenue Growth
Revenue Breakdown
NWG's revenue distribution by segment and geography
By Geography
NWG Revenue Analysis (2014–2025)
As of May 6, 2026, NatWest Group plc (NWG) generated trailing twelve-month (TTM) revenue of $29.46 billion, reflecting modest growth of +1.8% year-over-year. The most recent quarter (Q4 2025) recorded $7.39 billion in revenue, down 2.0% sequentially.
Looking at the longer-term picture, NWG's 5-year compound annual growth rate (CAGR) stands at +17.6%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $29.48 billion in 2025, representing a new all-time high.
When compared to Financial Services sector peers including HSBC, BCS, and LYG. Compare NWG vs HSBC →
NWG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NWGCurrent | $29.5B | +1.8% | +17.6% | 26.1% | |
 HSBC | $147.9B | - | - | 20.3% | |
 BCS | $26.8B | - | - | 37.3% | |
 LYG | $65.0B | - | - | 10.2% | |
 DB | $60.9B | - | - | 16.0% | |
 ING | $23.0B | - | - | 39.7% |
NWG Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $29.48B | - | $16.61B | 56.3% | $7.71B | 26.1% |
| 2024 | $28.57B | - | $14.65B | 51.3% | $6.20B | 21.7% |
| 2023 | $24.76B | - | $14.78B | 59.7% | $6.18B | 25.0% |
| 2022 | $16.15B | - | $13.35B | 82.7% | $5.13B | 31.8% |
| 2021 | $12.04B | - | $10.34B | 85.9% | $3.84B | 31.9% |
| 2020 | $13.08B | - | $10.76B | 82.3% | $-553,000,000 | -4.2% |
| 2019 | $15.05B | - | $11.72B | 77.9% | $3.98B | 26.5% |
| 2018 | $15.73B | - | $13.34B | 84.8% | $3.36B | 21.3% |
| 2017 | $14.76B | - | $12.72B | 86.1% | $2.24B | 15.2% |
| 2016 | $14.92B | - | $12.37B | 82.9% | $-4,082,000,000 | -27.4% |
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Start ComparisonNWG — Frequently Asked Questions
Quick answers to the most common questions about buying NWG stock.
Is NWG's revenue growth accelerating or slowing?
NWG revenue growth slowed to +1.8%, below the 5-year CAGR of +17.6%. TTM revenue is $29.5B. The deceleration marks a shift from historical growth rates.
What is NWG's long-term revenue growth rate?
NatWest Group plc's 5-year revenue CAGR of +17.6% reflects the variable expansion pattern. Current YoY growth of +1.8% is near this long-term average.
How is NWG's revenue distributed by segment?
NWG reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.