Pricing Log in Create free account
Friday 6 November 2026 Export NWG’s income statement to Excel — free account

NatWest Group plc

NWG Financial Banks Regional

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%
Market cap
$63.1B
P/E
8.3×
Fwd P/E
7.9×
Dividend yield
5.90%
F-score
8/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

NatWest Group plc (NWG) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, NatWest Group plc (NWG) trades at a P/B ratio of 1.1×. Over the past ten years it has ranged from 0.3× (April 2020) to 1.3× (February 2026); the current reading is higher than 92% of that period. That is below the Banks Regional industry median of 1.2× and below the Financial sector median of 1.3×.

P/B ratio, daily

Embed this chart

Annual newest first

Period P/B ratio Change
FY2025 1.2× 46.60%
FY2024 0.8× 52.15%
FY2023 0.6× (36.36%)
FY2022 0.9× 28.95%
FY2021 0.7× 34.25%
FY2020 0.5× (32.73%)
FY2019 0.7× 40.07%
FY2018 0.5× (24.11%)
FY2017 0.7× 47.12%
FY2016 0.5× (22.50%)

Quarterly newest first

Period P/B ratio Change
Sep 2026 1.2× 21.16%
Mar 2026 1.0× 1.33%
Sep 2025 1.0× 8.78%
Mar 2025 0.9× 18.39%
30 more quarters

Against its own ten years

Low 0.3× High 1.3×
Ten-year median 0.6×
Current reading's percentile 91

P/B ratio against peers

Company P/B ratio
DB Deutsche Bank Aktiengesellschaft compare 0.7×
KB KB Financial Group Inc compare 0.9×
TFC Truist Financial Corporation compare 1.1×
NWG NatWest Group plc 1.1×
LYG Lloyds Banking Group PLC compare 1.2×
PNC The PNC Financial Services Group, Inc compare 1.5×
USB U.S. Bancorp compare 1.6×
FITB Fifth Third Bancorp compare 1.6×
NU Nu Holdings Ltd. compare 4.3×
Banks Regional industry median 1.2×
Financial sector median 1.3×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

More on NWG