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NatWest Group
(NYSE:NWG)
NatWest Group (NWG) vs. SPDR S&P 500 ETF (SPY)
NatWest Group Business Overview & Revenue Model
NatWest Group Key Performance Indicators (KPIs)
Shows revenue generation across different business areas, helping investors understand which segments contribute most to the company’s top line.
The FlyNatWest Group Earnings Call Summary
NatWest Group Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.28B | 28.57B | 14.17B | 12.98B | 11.75B | 13.08B |
| Gross Profit | 15.49B | 14.65B | 14.17B | 12.98B | 10.34B | 10.76B |
| EBITDA | 7.86B | 7.25B | 7.12B | 5.96B | 4.77B | 361.00M |
| Net Income | 5.25B | 4.80B | 4.64B | 3.59B | 3.27B | -372.00M |
Balance Sheet | ||||||
| Total Assets | 730.78B | 707.99B | 692.67B | 720.05B | 781.99B | 799.49B |
| Cash, Cash Equivalents and Short-Term Investments | 90.71B | 93.05B | 104.52B | 145.06B | 261.23B | 209.81B |
| Total Debt | 69.96B | 65.92B | 60.07B | 39.93B | 58.33B | 56.53B |
| Total Liabilities | 688.80B | 668.61B | 655.49B | 683.56B | 740.19B | 755.67B |
| Stockholders Equity | 41.96B | 39.35B | 37.16B | 36.49B | 41.80B | 43.86B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 694.00M | -14.92B | -44.24B | 52.79B | 28.72B |
| Operating Cash Flow | 0.00 | 1.77B | -13.37B | -43.60B | 53.69B | 29.09B |
| Investing Cash Flow | 0.00 | -12.70B | -14.69B | 19.06B | 3.06B | 7.55B |
| Financing Cash Flow | 0.00 | -1.89B | -23.52B | -10.65B | -2.60B | 90.00M |
NatWest Group Technical Analysis
NatWest Group Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $72.67B | 10.56 | 14.58% | 3.67% | 7.43% | 30.31% | |
78 Outperform | $302.28B | 18.58 | 8.66% | 4.14% | -9.54% | -22.46% | |
77 Outperform | $91.85B | 12.26 | 9.44% | 1.71% | 17.50% | 49.25% | |
76 Outperform | $144.79B | 12.82 | 18.00% | 3.27% | 7.52% | 10.40% | |
72 Outperform | $187.51B | 12.70 | 12.54% | 1.85% | -15.34% | 16.71% | |
71 Outperform | $83.40B | 12.34 | 12.79% | 4.14% | 2.20% | -0.17% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
NatWest Group Corporate Events
On 31 December 2025, NatWest Group plc reported its total voting rights and issued share capital in line with UK Disclosure Guidance and Transparency Rules. As at that date, the bank had 8,006,684,747 ordinary shares in issue (excluding 221,209,481 held in treasury), each carrying four votes, resulting in 32,026,738,988 exercisable voting rights from ordinary shares, plus a small number of 11% and 5.5% cumulative preference shares bringing total voting rights to 32,028,671,548 across 8,228,377,368 issued shares. The disclosure, filed with the US SEC on Form 6-K, provides investors with an updated denominator for calculating notifiable holdings in NatWest, underlining the group’s ongoing compliance with transparency requirements and giving shareholders clarity on the impact of treasury stock and preference share structure on their voting power.
The most recent analyst rating on (NWG) stock is a Buy with a $19.50 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On 30 December 2025, NatWest Group plc reported that it had repurchased 814,080 of its ordinary shares on the London Stock Exchange as part of its existing share buyback programme, at a volume-weighted average price of 652.02 pence per share. The bank intends to cancel the repurchased shares, which will leave it holding 221,209,481 shares in treasury and 8,005,018,197 ordinary shares in issue, reinforcing its ongoing capital-return strategy and potentially enhancing earnings per share for investors by reducing the overall share count.
The most recent analyst rating on (NWG) stock is a Buy with a $19.50 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On 29 December 2025, NatWest Group plc reported that it had repurchased 852,470 of its ordinary shares on the London Stock Exchange as part of its ongoing share buyback programme, at a volume-weighted average price of 645.62 pence per share. The bank plans to cancel the repurchased shares, which will reduce its share count and can enhance earnings per share, and following settlement it will hold 221,400,708 ordinary shares in treasury with 8,005,641,050 ordinary shares in issue (excluding treasury), underscoring continued capital return to shareholders and active balance sheet management.
The most recent analyst rating on (NWG) stock is a Buy with a $19.50 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On 24 December 2025, NatWest Group plc repurchased 193,319 of its own ordinary shares on the London Stock Exchange from Merrill Lynch International as part of its ongoing share buyback programme initiated in July 2025. The shares, bought at a volume-weighted average price of 647.46 pence, are intended to be cancelled, leaving NatWest with 221,577,438 shares held in treasury and 8,006,316,790 ordinary shares in issue excluding treasury stock, a move that further reduces the bank’s free-float share count and signals continued capital return to shareholders.
The most recent analyst rating on (NWG) stock is a Buy with a $19.50 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On 19 December 2025, NatWest Group plc disclosed that it had repurchased 1,215,751 of its ordinary shares on the London Stock Exchange as part of its ongoing share buyback programme, with prices ranging between 638p and 648p and a volume-weighted average price of 642.79p. The shares, bought from Merrill Lynch International under instructions first issued in July 2025, are intended to be cancelled, leaving the bank with 223,527,128 shares held in treasury and 8,006,214,428 ordinary shares in issue, a move that marginally reduces the free float and can enhance earnings per share, underlining the group’s continuing capital-return strategy to shareholders.
The most recent analyst rating on (NWG) stock is a Buy with a $19.50 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On 18 December 2025, NatWest Group plc disclosed that it had repurchased 1,051,321 of its ordinary shares from Merrill Lynch International as part of its previously announced share buyback programme, paying a volume-weighted average price of 635.71 pence per share on the London Stock Exchange. The bank intends to cancel the repurchased shares, which will leave it holding 229,911,261 shares in treasury and 8,001,046,046 ordinary shares in issue, a move that supports capital return to shareholders and marginally enhances earnings per share by reducing the stock’s free float.
The most recent analyst rating on (NWG) stock is a Buy with a $19.50 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
NatWest Group announced on December 17, 2025, a significant transaction within its share buyback program, purchasing 832,295 ordinary shares through Merrill Lynch International at prices ranging from 636.60 GBp to 646.20 GBp on the London Stock Exchange. The repurchased shares will be canceled, reflecting the company’s commitment to managing its capital structure effectively. Following the settlement, NatWest will hold 229,960,749 shares in treasury, leaving 8,002,047,879 ordinary shares outstanding, a move that is likely to bolster shareholder value and highlight the group’s focus on strengthening its market position.
The most recent analyst rating on (NWG) stock is a Buy with a $19.50 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On December 16, 2025, NatWest Group plc announced the purchase of 845,063 of its own ordinary shares from Merrill Lynch International as part of its ongoing share buyback program. This transaction, which was initially instructed in July 2025, is aimed at reducing the number of shares in circulation, thereby potentially increasing the value of remaining shares. The purchased shares will be canceled, leaving the company with 229,960,749 shares in treasury and 8,002,880,174 shares in issue. This move reflects NatWest’s strategic effort to enhance shareholder value and optimize its capital structure.
The most recent analyst rating on (NWG) stock is a Buy with a $19.50 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On December 15, 2025, NatWest Group announced the purchase of 845,216 of its own ordinary shares from Merrill Lynch International as part of its ongoing share buyback program. This transaction, executed under previously issued instructions, aims to enhance shareholder value by reducing the number of shares in circulation, thereby potentially increasing the value of remaining shares. The company plans to cancel the repurchased shares, which will leave it with 229,960,749 shares in treasury and 8,003,725,237 shares in issue.
The most recent analyst rating on (NWG) stock is a Buy with a $19.50 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On December 11, 2025, Massachusetts Financial Services Company reduced its voting rights in NatWest Group plc from 5.167092% to 4.936000%. This change in holdings was officially notified to NatWest on December 12, 2025. The adjustment in voting rights could potentially impact the influence Massachusetts Financial Services holds in the strategic decisions of NatWest Group, reflecting a shift in investment strategy or portfolio management by the financial services company.
The most recent analyst rating on (NWG) stock is a Buy with a $19.50 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On October 24, 2025, NatWest Group plc announced the purchase of 269,316 of its own ordinary shares as part of its ongoing share buyback program. These transactions, executed through Merrill Lynch International, are part of a strategy to enhance shareholder value by reducing the number of shares in circulation. The company plans to cancel the repurchased shares, which will impact its treasury holdings and total shares in issue. This move is expected to strengthen NatWest’s market position by optimizing its capital structure and potentially increasing the value of remaining shares.
The most recent analyst rating on (NWG) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On October 24, 2025, NatWest Group plc announced the publication of a Fourth Supplementary Prospectus for its £40 billion Euro Medium Term Note Programme, initially established on December 6, 2024. This development, approved by the Financial Conduct Authority, signifies a strategic move to enhance NatWest’s financial instruments and market offerings, potentially impacting its stakeholders by providing more investment opportunities and reinforcing its position in the financial market.
The most recent analyst rating on (NWG) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
NatWest Group reported a strong financial performance in the third quarter of 2025, with total income rising to £4.2 billion and an attributable profit of £1.6 billion. The bank’s strategic focus on growth and simplification has led to increased lending, stable deposits, and a significant improvement in efficiency, as evidenced by a 5% reduction in the cost:income ratio. The bank’s capital generation and active balance sheet management have positioned it well for future growth, with a Common Equity Tier 1 ratio of 14.2%.
The most recent analyst rating on (NWG) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On October 24, 2025, NatWest Group released a report highlighting the inherent risks and uncertainties associated with its forward-looking statements, particularly concerning its financial and sustainability targets. The company emphasized the challenges in achieving its strategic goals due to economic, political, and regulatory factors, as well as the evolving nature of climate-related disclosures. This announcement underscores the complexities NatWest faces in aligning its operations with its ambitious net-zero and financial performance objectives, potentially impacting stakeholder expectations and market positioning.
The most recent analyst rating on (NWG) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.
On October 23, 2025, NatWest Group plc announced the purchase of 919,632 of its own ordinary shares from Merrill Lynch International as part of its ongoing share buyback program. The shares, bought at a volume-weighted average price of 546.81 GBp, will be canceled, reducing the total number of shares in circulation and potentially increasing the value of remaining shares, thereby impacting shareholder value positively.
The most recent analyst rating on (NWG) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on NatWest Group stock, see the NWG Stock Forecast page.