Revenue
5Y CAGR +18.3%10Y CAGR +4.5%$39.9B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
NWG
$15.60-2.26%
as of close, Nov 6, 2026
☾ AH $15.60 -2.26%
NatWest Group plc American Depositary Shares (each representing two (2) Ordinary Shares)Stock · FinancialsMSCI EAFE · 0.3% of EFAMSCI World · 0.08% of URTHMSCI ACWI · 0.07% of ACWI
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NWG financial statements
The full income statement, balance sheet, and cash-flow statement for NatWest Group plc American Depositary Shares (each representing two (2) Ordinary Shares) (NWG), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Financial overview#
Net income
5Y n/m10Y n/m$7.7B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
EPS (diluted)
5Y n/m5Y n/m$1.78 FY25
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Operating cash flow
5Y CAGR −24.2%10Y CAGR +20.9%$9.3B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Capital expenditure
5Y CAGR +12.7%10Y CAGR −3.1%$877.9M FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Free cash flow
5Y CAGR −25.5%10Y CAGR +45.0%$8.5B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Shares (diluted)
5Y −27.6%10Y −29.8%4.1B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Dividend per share
5Y CAGR +54.7%10Y CAGR +21.5%$0.77 FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Shares outstanding (point-in-time)
2017-12 5.97B2018-12 6.03B2019-12 6.05B2020-12 5.62B2021-12 5.42B2022-12 4.89B2023-12 4.50B2024-12 4.17B2025-12 4.11B-31.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 39.9B+6.5% | 37.5B+18.7% | 31.6B+54.4% | 20.4B+17.0% | 17.5B+1.3% | |
| Pre-tax income | 10.2B+28.5% | 7.92B+3.1% | 7.68B+21.4% | 6.33B+19.7% | 5.29B+845.3% | |
| Income tax | 2.47B+32.1% | 1.87B+5.0% | 1.78B+13.4% | 1.57B+14.7% | 1.37B+1343.1% | |
| 7.70B+25.3% | 6.15B+6.8% | 5.76B+29.9% | 4.43B-2.7% | 4.56B+918.2% | ||
| Net income to common | 7.70B+25.3% | 6.15B+6.8% | 5.76B+29.9% | 4.43B-2.7% | 4.56B | |
| $1.78+31.1% | $1.36+14.4% | $1.19+43.2% | $0.83+10.7% | $0.75+535.3% | ||
| EPS (basic) | $1.80+31.3% | $1.37+14.7% | $1.19+43.0% | $0.83+11.0% | $0.75+536.9% | |
| Weighted-avg shares (basic) | 4.03B-4.7% | 4.22B-7.8% | 4.58B-7.2% | 4.94B-8.5% | 5.40B-3.9% | |
| Weighted-avg shares (diluted) | 4.06B-4.6% | 4.26B-7.6% | 4.61B-7.2% | 4.96B-8.4% | 5.42B-3.5% | |
| Dividends per share | $0.77+42.9% | $0.54+17.6% | $0.46-42.3% | $0.80+208.6% | $0.26+196.3% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 129B-2.3% | 132B-13.0% | 151B-20.8% | 191B-25.8% | 257B+35.7% | |
| 962B+8.3% | 888B+0.7% | 882B+1.6% | 868B-17.8% | 1.06T-3.1% | ||
| Property, plant & equipment | — | — | 5.38B+5.3% | 5.11B-10.5% | 5.71B-5.2% | |
| Goodwill | 7.43B+4.4% | 7.12B-1.5% | 7.23B+8.6% | 6.66B-10.7% | 7.45B-2.5% | |
| Total liabilities | 905B+7.8% | 839B+0.5% | 835B+1.3% | 824B-17.5% | 999B-3.0% | |
| 57.4B+16.2% | 49.4B+4.4% | 47.3B+7.6% | 44.0B-22.0% | 56.4B-5.6% | ||
| Total equity incl. non-controlling | 57.4B+16.1% | 49.4B+4.4% | 47.4B+7.6% | 44.0B-22.0% | 56.4B-5.5% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 9.34B+312.3% | 2.26B+110.4% | -21.7B+59.7% | -53.8B-172.8% | 73.8B+97.8% | ||
| Depreciation & amortization | 1.52B+12.7% | 1.35B+16.4% | 1.16B+13.1% | 1.03B-19.1% | 1.27B+8.4% | |
| Capital expenditure | 878M+48.1% | 593M-41.2% | 1.01B+28.0% | 788M-36.4% | 1.24B+156.9% | |
| Free cash flow | 8.46B+406.0% | 1.67B+107.4% | -22.7B+58.4% | -54.5B-175.1% | 72.6B+97.1% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 1.65B-7.2% | 1.78B | — | — | 1.41B | |
| Common stock repurchased | 0.00-100.0% | 690M+54.6% | 446M-82.4% | 2.53B+29.4% | 1.96B | |
| Dividends paid | 3.14B+36.4% | 2.30B+8.6% | 2.12B-46.4% | 3.95B+182.8% | 1.40B+185.9% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 72.0B+69.9% | 42.4B+53.8% | 27.5B-21.3% | 35.0B-1.9% | 35.7B+30.4% | |
| P/E | 9.3×+35.6% | 6.9×+10.9% | 6.2×-19.1% | 7.7×-1.9% | 7.8× | |
| P/S | 1.8×+59.5% | 1.1×-16.1% | 1.3×-32.7% | 2.0×-1.9% | 2.0×+28.8% | |
| P/B | 1.3×+46.3% | 0.9×+37.0% | 0.6×+0.9% | 0.6×-1.9% | 0.6×+38.2% | |
| P/FCF | 8.5×-66.4% | 25.3× | — | 0.5×-1.9% | 0.5×-33.8% | |
| Earnings yield | 10.7%-26.3% | 14.5%-9.8% | 16.1%+23.6% | 13.0%+1.9% | 12.8% | |
| FCF yield | 11.7%+197.8% | 3.9% | — | 207.4%+1.9% | 203.5%+51.1% | |
| Dividend yield | 4.4%-16.9% | 5.3%-34.9% | 8.2%-33.8% | 12.3%+214.5% | 3.9%+119.2% | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: NWG’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all NWG filings on SEC EDGAR → Not investment advice.
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