# NatWest Group plc (NWG.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services / Banks. Price 695p, market value 55.1 billionp.

## Valuation
- **P/E (trailing): 9.3×** (5-yr avg 772.5×, 3-yr avg 728.9×). NatWest Group plc trades at 9.3× trailing earnings, well below its own five-year average of 772.5×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 8.2×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.31**. A PEG of 0.31 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 2.0×**. Each dollar of revenue is priced at 2.0×.
- **Price / book: 1.4×**. The shares trade at 1.4× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -31.5%** (5-yr avg -0.1%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 10.8%**. The inverse of the P/E: 10.8% of the price is earned each year.

## Profitability
- **Net margin: 19.5%**. 19.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 15.3%**. 15.3% on shareholders' equity is solid.
- **Return on assets: 0.9%**. Each dollar of assets produces 0.9% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 108.0%** (3-yr 32.0%/yr, 5-yr 31.2%/yr). Revenue grew 108.0% over the last year, against 31.2% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 26.4%** (3-yr 25.4%/yr). Earnings per share rose 26.4%, slower than revenue, so margins compressed.

## Financial health
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.
- **Cash and short-term investments: 98.2 billionp**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 5.00%** (0p per share, trailing). NatWest Group plc yields 5.00%, an income-level yield.
- **Payout ratio: 41%**. 41% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Shareholder yield: 9.6%**. Dividends plus net buybacks return 9.6% of the market value a year.

## Price and momentum
- **Total return (1 yr): 35.2%** (YTD 7.4%, 3-mo 17.9%). The shares are up 35.2% over twelve months including dividends.
- **From 52-week high: -4.3%** (37.8% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 57**. An RSI of 57 is neutral.
- **Beta (1 yr): 1.70** (volatility 30%). Beta of 1.70 against the FTSE All-Share: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=NWG.L · Page: https://foliofundamentals.com/stocks/nwg.l

Not investment advice.