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Annual figures as reported in 10-K / 20-F / 40-F filings.
NWG · CIK 0000844150

NatWest Group plc

Annual figures as reported, FY2014–FY2025. Ratios and growth rates derived on-page.

NWG logo
Commercial Banks, NEC
Company profile
NYSE · NWGHQ Edinburgh, Scotland, United KingdomIncorporated in X0Fiscal year ends Dec 31Large accelerated filerReports in GBP
Revenue
£30.2B
▲ +3.1% vs FY2024
Net income
£5.8B
▲ +21.3% vs FY2024
Free cash flow
£6.4B
▲ +389.8% vs FY2024
Diluted EPS
£0.67
▲ +26.9% vs FY2024

Revenue

Annual, as reported

010B20B30B’15’17’19’21’23’25£30.2B

Net income

Losses shown in terracotta

−5B05B’15’17’19’21’23’25£5.8B

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

-20%0%20%’15’17’19’21’23’25

Returns on capital

Net income vs year-end equity and assets

-10%0%10%’16’18’20’22’24
Return on equityReturn on assets

Cash flow

cash generation

Free cash flow

Operating cash flow less capital expenditure

−25B025B50B’15’17’19’21’23’25£6.4B

Operating cash flow

Net cash from operations

−25B025B50B’15’17’19’21’23’25£7.1B

Shareholder returns

capital allocation

Capital returned

Cash paid out as dividends and share repurchases

02B4B’15’17’19’21’23’25
Dividends paidBuybacks

Diluted shares outstanding

Falling count means buybacks outpace dilution

05B10B’15’17’19’21’23’258.13B

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

020B40B’16’18’20’22’24’25£42.6B

Growth rates

compounding, annualized
Revenue CAGR
+22.2%
3y
+17.6%
5y
+6.0%
10y
Net income CAGR
+17.5%
3y
Diluted EPS CAGR
+26.1%
3y
Free cash flow CAGR
−25.9%
5y
+47.1%
10y
Share count change (split-adjusted)
−27.6%
5y
−29.8%
10y

Key ratios

derived per fiscal year
Fiscal yearNet marginFCF marginROEROA
FY202519.3%21.2%13.7%0.8%
FY202416.4%4.5%12.2%0.7%
FY202318.2%−71.9%12.5%0.7%
FY202221.7%−266.9%9.9%0.5%
FY202126.1%415.5%7.9%0.4%
FY2020−3.2%213.6%−1.0%−0.1%
FY201920.9%−20.0%8.2%0.5%
FY201812.9%−44.2%4.6%0.3%
FY20179.4%215.3%3.1%0.2%
FY2016−32.9%−28.6%−10.6%−0.7%
FY2015−7.0%0.8%——
FY2014————

Annual figures

as reported
Fiscal yearRevenueGross profitOp. incomeNet incomeDiluted EPSOp. cash flowCapexTotal assetsLiabilitiesEquityCashLT debt
FY2025£30.2B——£5.8B£0.67£7.1B£665.0M£714.6B£671.9B£42.6B£95.4B—
FY2024£29.3B——£4.8B£0.53£1.8B£464.0M£708.0B£668.6B£39.4B£104.8B—
FY2023£25.4B——£4.6B£0.48−£17.4B£811.0M£692.7B£655.5B£37.2B£118.8B—
FY2022£16.6B——£3.6B£0.34−£43.6B£639.0M£720.1B£683.6B£36.5B£158.4B—
FY2021£12.7B——£3.3B£0.27£53.7B£901.0M£782.0B£740.2B£41.8B£190.7B—
FY2020£13.4B——−£434.0M−£0.07£29.1B£376.0M£799.5B£755.7B£43.8B£139.2B—
FY2019£18.2B——£3.8B£0.26−£3.1B£559.0M£694.2B£647.7B£46.5B£100.6B—
FY2018£16.7B——£2.2B£13.40−£6.7B£619.0M£694.2B£647.7B£46.5B£108.9B—
FY2017£16.1B——£1.5B£0.06£35.7B£1.1B£738.1B£689.0B£49.1B£122.6B—
FY2016£15.9B——−£5.2B−£0.59−£3.6B£912.0M£798.7B£749.3B£49.4B£98.6B—
FY2015£16.9B——−£1.2B—£918.0M£783.0M———£103.6B—
FY2014——————————£107.9B—

Latest filings

the most recent regulatory filings
6-KDIRECTOR/PDMR SHAREHOLDING2026-07-02 ↗6-KCOMPLETION OF THE ACQUISITION OF EVELYN PARTNERS2026-07-01 ↗6-KTOTAL VOTING RIGHTS2026-06-30 ↗6-KDIRECTORATE CHANGE2026-06-29 ↗6-KDIRECTOR/PDMR SHAREHOLDING2026-06-24 ↗6-KDIRECTOR/PDMR SHAREHOLDING2026-06-22 ↗CERTNYSE CERTIFICATION2026-06-22 ↗6-KForeign issuer report2026-06-18 ↗8-A12BSEC filing2026-06-18 ↗6-KDIRECTOR/PDMR SHAREHOLDING2026-06-17 ↗

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