Itau Unibanco Holding S.A. (ITUB) vs NatWest Group plc (NWG)

Itau Unibanco Holding S.A. and NatWest Group plc are both Banks Regional companies. NatWest Group plc is the larger, with a market value of $69.2B against $51.3B — 1.3× the size. NatWest Group plc trades at the lower P/E: 9.9× against 12.0×. NatWest Group plc grew revenue faster over the last twelve months: 35.8% against 29.0%. NatWest Group plc has the higher net margin (18.5% vs 12.1%) and the lower return on invested capital (0.00% vs 12.7%). Both pay a dividend; NatWest Group plc yields more (5.38% vs 4.67%). Across the 19 metrics below, NatWest Group plc leads on 10 and Itau Unibanco Holding S.A. on 9.

Valuation

Metric ITUB NWG Banks Regional median
P/E 12.03 9.89 11.98
P/S 1.42 1.81 2.34
P/B 2.31 1.19 1.19
Price to free cash flow 3.58 3.98 10.63
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 8.31% 10.11% 8.23%
Free cash flow yield 27.91% 25.15% 9.08%

Profitability

Metric ITUB NWG Banks Regional median
Gross margin 44.92% 55.71% 69.55%
Operating margin 0.00% 0.00% 0.00%
Net margin 12.12% 18.54% 18.66%
Free cash flow margin 39.73% 0.00% 21.11%
Return on equity 21.16% 0.00% 10.65%
Return on assets 1.55% 0.00% 1.13%
Return on invested capital 12.72% 0.00% 8.35%

Growth

Metric ITUB NWG Banks Regional median
Revenue growth (TTM) 28.98% 35.80% 6.98%
EPS growth (last fiscal year) 5.94% 31.62% 18.88%
Revenue growth, 5-year CAGR 15.52% 18.23% 12.38%
Net income growth, 5-year CAGR 16.99% 0.00% 9.71%

Health

Metric ITUB NWG Banks Regional median
Debt to equity 2.44 0.15 0.22
Current ratio 1.08 1.03 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric ITUB NWG Banks Regional median
Dividend yield 4.67% 5.38% 2.57%
Payout ratio 0.58 0.54 0.30

Size

Metric ITUB NWG Banks Regional median
Market cap 51.34b 69.17b 913.33m

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