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Friday 6 November 2026
Export NWG’s income statement to Excel — free account
NatWest Group plc
NatWest Group plc’s revenue for fiscal 2025 (year ended December 2025) was $38.9 billion, up 6.42% from fiscal 2024.
- Revenue
- +12.9%
- EPS
- +40.5%
- Free cash flow
- −47.4%
- Total debt
- −8.24%
Quarter to September 2026, against a year earlier
15.97
0.58
−3.50%
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NatWest Group plc (NWG) Gross margin
NatWest Group plc's gross margin over the twelve months to 30 September 2026 was 57.4%, up 1.1 percentage points from fiscal 2025 (56.4%). Over the past ten years it has ranged from 51.4% (fiscal 2024) to 86.5% (fiscal 2017); the current reading is higher than 18% of that period. That is below the Banks Regional industry median of 69.8% and below the Financial sector median of 70.1%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 56.4% | 5.01 |
| FY2024 | 51.4% | (8.27) |
| FY2023 | 59.7% | (22.83) |
| FY2022 | 82.5% | (3.61) |
| FY2021 | 86.1% | 3.79 |
| FY2020 | 82.3% | 1.23 |
| FY2019 | 81.1% | (3.78) |
| FY2018 | 84.9% | (1.67) |
| FY2017 | 86.5% | 3.36 |
| FY2016 | 83.2% | 2.80 |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Sep 2026 | 58.3% | (0.71) |
| Mar 2026 | 59.0% | 1.60 |
| Sep 2025 | 57.4% | 2.66 |
| Mar 2025 | 54.8% | 3.38 |
| 30 more quarters | Free account |
Against its own ten years
Low 51.4%
High 86.5%
Ten-year median
82.3%
Current reading's percentile
18
Gross margin against peers
| Company | Gross margin |
|---|---|
| FITB Fifth Third Bancorp compare | 72.9% |
| NU Nu Holdings Ltd. compare | 71.7% |
| PNC The PNC Financial Services Group, Inc compare | 70.9% |
| USB U.S. Bancorp compare | 68.7% |
| TFC Truist Financial Corporation compare | 67.4% |
| LYG Lloyds Banking Group PLC compare | 66.3% |
| KB KB Financial Group Inc compare | 57.8% |
| NWG NatWest Group plc | 57.4% |
| DB Deutsche Bank Aktiengesellschaft compare | 53.6% |
| Banks Regional industry median | 69.8% |
| Financial sector median | 70.1% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on NWG
- Revenue
- Net income
- EPS (diluted)
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement