NatWest Group plc (NWG): price, analyst ratings, earnings and fundamentals
Updated 16 September 2026, 08:02 ET
NatWest Group plc (NWG) closed at $18.62 on 15 September 2026, up 0.8%. The stock is down 2.5% over one month and up 28.8% over one year. It trades 4.1% below its 52-week high of $19.42. The company last reported on 31 July 2026 for Q2 2026: EPS of $0.54 against an estimate of $0.47, a beat of 14.7%, on revenue of $6.0 billion.
Price and performance
Performance figures use dividend and split adjusted closes over trading sessions, so a one-year move compares the last close with the close 252 sessions earlier. The 52-week range uses the adjusted daily highs and lows of the same window. Read the guide: Momentum, trend and technical indicators.
The live chart with technical indicators is in the app: open NWG in FundSpec.
Analyst ratings
No analyst action on NWG was recorded in the last 90 days; the most recent is from 7 January 2026.
| Date | Firm | Action | Price target |
|---|---|---|---|
| 7 Jan 2026 | Barclays | Downgrades to Equal-Weight from Overweight | |
| 15 Oct 2024 | Jefferies | Upgrades to Buy from Underperform | |
| 21 Jun 2023 | Exane BNP Paribas | Downgrades to Underperform from Neutral | |
| 22 Apr 2022 | HSBC | Upgrades to Buy from Hold | |
| 11 Jan 2022 | Jefferies | Downgrades to Hold from Buy | |
| 20 May 2021 | RBC Capital | Upgrades to Outperform from Sector Perform | |
| 18 Mar 2021 | Goldman Sachs | Upgrades to Conviction Buy from Buy | |
| 23 Feb 2021 | Exane BNP Paribas | Upgrades to Neutral from Underperform |
A price target is one firm's twelve-month view, and the median across firms is a steadier reading than any single call. Upgrades and downgrades matter more when they change a rating, not only a target. Read the guide: What analyst ratings and price targets actually tell you.
Every action with the firm's history is in Analyst Ratings.
Earnings
The next report is scheduled for 23 October 2026 before the open for Q3 2026, with EPS expected at $0.51 on revenue of $6.2 billion. NatWest Group plc beat the EPS estimate in 4 of its last 4 reported quarters.
| Period | Reported | EPS estimate | EPS actual | Surprise | Revenue |
|---|---|---|---|---|---|
| Q2 2026 | 31 Jul 2026 | $0.47 | $0.54 | +14.68% | $6.0B |
| Q1 2026 | 1 May 2026 | $0.44 | $0.48 | +9.09% | $5.9B |
| Q4 2025 | 13 Feb 2026 | $0.36 | $0.46 | +28.61% | $5.8B |
| Q3 2025 | 24 Oct 2025 | $0.53 | $5.8B | ||
| Q2 2025 | 25 Jul 2025 | $0.41 | $5.3B | ||
| Q1 2025 | 2 May 2025 | $0.39 | $5.0B | ||
| Q4 2024 | 14 Feb 2025 | $0.35 | $4.9B | ||
| Q3 2024 | 25 Oct 2024 | $0.29 | $0.36 | +24.14% | $4.9B |
An earnings surprise is the reported EPS against the consensus estimate on the day. The price reaction depends as much on guidance and on what was already priced in as on the surprise itself. Read the guide: Earnings season: estimates, surprises and price reaction.
Estimates, confirmed dates and alerts for every company are in Earnings.
Fundamentals
On a trailing twelve month basis the company shows revenue growth of 3.14%, a gross margin of N.A., an operating margin of 68.04% and a return on equity of 14.24%.
Assets
| Line | Amount |
|---|---|
| Cash & Cash Equivalents | $95,433,000,000 |
| Goodwill Intangible Assets, Net | $5,520,000,000 |
| Deferred Tax Asset | $1,252,000,000 |
| Total Assets | $714,553,000,000 |
Liabilities and equity
| Line | Amount |
|---|---|
| Minority Interest | $14,000,000 |
| Total Liabilities | $671,940,000,000 |
| Total Stockholders Equity | $42,599,000,000 |
| Total Liability & Stockholders Equity | $714,553,000,000 |
Figures as filed with the SEC for the period ended 31 December 2025, in US dollars.
FundSpec fundamental metrics
Each metric is computed from the company's filings and ranked against every company FundSpec covers; the percentile is the share of covered companies with a lower value.
Leverage
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Debt/Assets | 0.00 | 17th | Calculated as the ratio of Short-Term Debt + Long-Term Debt / Total Assets. The higher the ratio, the higher the degree of leverage, and consequently, financial risk |
| Debt/Equity | 0.00 | 14th | Calculated as the ratio of Total Liabilities / Shareholders' Equity. The ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity |
| Degree of Financial Leverage | 2.67 | 94th | Calculated as the ratio of Percentage change in EPS / Percentage change in EBIT. A higher degree of financial leverage means that the company has more volatile EPS. |
Profitability
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Free Cashflow Margin Pct | 21.2% | 84th | Calculated as the ratio of Free Cashflow from Operating Activities / Net Sales. It measures how much per dollar of revenue the company is able to convert into free cash flow. |
| Operating Margin Pct | 68.0% | 99th | Calculated as the ratio of (Revenue - (Cost of Goods Sold + Labour + Sales, General & Administrative)) / Revenue. Operating margins are important because they measure efficiency. The higher the operating margin, the more profitable a company's core business is. |
| PreTax Margin Pct | 25.5% | 84th | Calculated as the ratio of (Gross profit - (Operating Expense + Interest Expense)) / Revenue. The pretax profit margin enables profitability to be compared across companies with significant differences in size, scale, capital structure and tax rates. |
| Return on Assets Pct | 0.8% | 56th | Calculated as the ratio of Net Income / Total Assets. It is an indicator of how efficient the company is at using its assets to generate earnings. |
| Return on Equity Pct | 14.2% | 77th | Calculated as the ratio of Net Income / Shareholders' equity. It is a measure of how much profit a company generates with the money shareholders have invested. |
| Return on Invested Capital Pct | 38.0% | 97th | Calculated as the ratio of (Net Income - Dividends) / (Debt + Equity). It is a measure of how efficient the company is at allocating the capital under its control to profitable investments. |
Cashflow
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| FCF Pct Growth | 389.8% | 95th | The Free Cash Flow growth rate over the trailing twelve months (TTM) |
| FCF Pct Growth 5 year CAGR | -77.7% | 7th | The Free Cash Flow compound annual growth rate (CAGR) over the past 5 years |
| FCF Return on Assets Pct | 0.9% | 49th | Calculated as the ratio of Cashflow from Operations / Total Assets. A high cash return on assets means a company is generating more cash flow from every asset dollar |
| Operating Cashflow Pct Growth | 299.1% | 95th | The Operating Cashflow growth rate over the trailing twelve months (TTM) |
| Operating Cashflow Pct Growth 5 year CAGR (FY) | -24.6% | 13th | The Operating Cashflow compound annual growth rate (CAGR) over the past 5 years |
Earnings Growth (Net Income)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Net Income Pct Growth | 21.3% | 59th | The Net Income growth rate over the trailing twelve months (TTM) |
| Net Income Pct Growth 3 year CAGR | 17.5% | 72nd | The Net Income compound annual growth rate (CAGR) over the past 3 years |
Top Line Growth
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Revenue Pct Growth | 3.1% | 41st | The Revenue (Sales) growth rate over the trailing twelve months (TTM) |
| Revenue Pct Growth 3 year CAGR | 22.2% | 84th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 3 years |
| Revenue Pct Growth 5 year CAGR | 17.6% | 79th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 5 years |
Taxes
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Effective Tax Rate Pct | 24.3% | 80th | The effective tax rate of the company over the trailing twelve months (TTM). |
Margins and returns say how much of each dollar of sales becomes profit and how hard the balance sheet is working; leverage and liquidity say how much room the company has when conditions turn. Read the guide: A practical guide to discounted cash flow valuation.
Fair value, peer multiples and the full statement history are in the app: open NWG in FundSpec.
SEC filings
The latest filing is a 20-F from 17 February 2026.
| Filed | Form | Document |
|---|---|---|
| 17 Feb 2026 | 20-F | View on sec.gov |
| 21 Feb 2025 | 20-F | View on sec.gov |
| 23 Feb 2024 | 20-F | View on sec.gov |
| 24 Feb 2023 | 20-F | View on sec.gov |
| 4 Mar 2022 | 20-F | View on sec.gov |
| 5 Mar 2021 | 20-F | View on sec.gov |
| 27 Feb 2020 | 20-F | View on sec.gov |
| 28 Feb 2019 | 20-F | View on sec.gov |
| 29 Mar 2018 | 20-F | View on sec.gov |
| 27 Mar 2017 | 20-F | View on sec.gov |
Company profile
- Exchange
- NYSE
- Sector
- Banks
- Industry
- Banking
- Headquarters
- EDINBURGH, SCOTLAND, United Kingdom
- Chief executive
- Alison M. Rose-Slade
- Employees
- 61,000
- Website
- natwestgroup.com
- SEC CIK
- 0000844150
NatWest Group plc provides banking and financial products and services to personal, commercial, corporate, and institutional customers in the United Kingdom and internationally. It operates through Retail Banking, Commercial Banking, Private Banking, RBS International, and NatWest Markets segments. The company operates approximately 800 branches and 16,000 physical points of presence.
Sector and peers
NatWest Group plc is part of the Banks sector, which FundSpec tracks across 315 companies.
Companies in the same industry by market capitalization:
RY Royal Bank Of CanadaMUFG Mitsubishi Ufj Financial Group Inc.SAN Banco Santander, S.A.TD Toronto Dominion BankSMFG Sumitomo Mitsui Financial Group, Inc.BBVA Banco Bilbao Vizcaya Argentaria, S.A.MFG Mizuho Financial Group Inc.BMO Bank Of Montreal /Can/
Put two of them side by side in Compare.
In FundSpec: the fair value estimate, the momentum reading, relative valuation against sector and industry peers, unusual options activity and AI model signals for NWG are available to subscribers, with the same screen in the iOS and Android apps.
Open NWG in FundSpec