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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/S ratio

Alert me on P/S ratio

As of 5 November 2026, NatWest Group plc (NWG) trades at a P/S ratio of 1.6×. Over the past ten years it has ranged from 0.7× (April 2020) to 2.6× (January 2018); the current reading is higher than 36% of that period. That is below the Banks Regional industry median of 2.4× and below the Financial sector median of 2.3×.

P/S ratio, daily

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Annual newest first

Period P/S ratio Change
FY2025 1.9× 39.65%
FY2024 1.3× 32.55%
FY2023 1.0× (46.68%)
FY2022 1.9× (10.16%)
FY2021 2.1× 27.98%
FY2020 1.7× (10.80%)
FY2019 1.9× 11.65%
FY2018 1.7× (27.27%)
FY2017 2.3× 42.01%
FY2016 1.6× (22.40%)

Quarterly newest first

Period P/S ratio Change
Sep 2026 1.8× 17.16%
Mar 2026 1.5× 1.08%
Sep 2025 1.5× 12.02%
Mar 2025 1.4× 9.52%
30 more quarters

Against its own ten years

Low 0.7× High 2.6×
Ten-year median 1.7×
Current reading's percentile 39

P/S ratio against peers

Company P/S ratio
DB Deutsche Bank Aktiengesellschaft compare 1.0×
KB KB Financial Group Inc compare 1.5×
NWG NatWest Group plc 1.6×
TFC Truist Financial Corporation compare 2.1×
USB U.S. Bancorp compare 2.1×
PNC The PNC Financial Services Group, Inc compare 2.5×
NU Nu Holdings Ltd. compare 3.0×
FITB Fifth Third Bancorp compare 3.0×
LYG Lloyds Banking Group PLC compare 6.7×
Banks Regional industry median 2.4×
Financial sector median 2.3×
Market median 1.9×

What P/S ratio is

Price to Sales Ratio shows how much investors pay for each dollar of a company’s annual sales, whether or not it is profitable.

(Stock Price × Shares (Basic, Weighted) (latest quarter)) ÷ Revenue (TTM)

The full definition of P/S ratio →

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