NatWest Group (NWG) Financial Statements & Analysis

NatWest Group (NWG) Income Statement

NatWest Group reported revenue of GBP 29.48B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 105.5% from GBP 14.34B a year earlier. Net income was GBP 5.83B, up 21.2% year over year, a net margin of 19.8%. Gross margin was 56.3% and operating margin 26.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was GBP 7.86B, up 106.3% from the same quarter a year earlier.

NatWest Group Income Statement Analysis

Values in billions GBP

Income Statement Balance Sheet Cash Flow Ratios

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NatWest Group plc income statement - Annual data in billions GBP
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	29.48	14.34	14.78	12.98	11.75	13.08	15.05	15.73	14.76
Cost of Revenue	12.87	13.91	9.98	2.80	1.70	2.32	3.33	2.39	2.05
Gross Profit	16.61	14.65	14.78	13.35	10.34	10.76	11.72	13.34	12.72
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	1.42	3.03	1.61	3.14	3.16	1.29	2.83	3.07	2.04
Operating Expenses	8.90	7.85	7.64	7.30	6.50	11.31	7.74	9.98	10.48
Operating Income	7.71	6.20	6.18	5.13	3.84	-0.55	3.98	3.36	2.24
Other Income/Expense
Interest Income	25.70	25.19	21.03	12.64	9.23	9.71	11.13	11.05	11.03
Interest Expense	12.87	13.91	9.98	2.80	1.70	2.32	3.33	2.39	2.05
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	7.71	6.20	6.18	5.13	2.67	-0.55	3.98	3.36	2.24
Income Tax Expense	1.87	1.47	1.43	1.28	1.00	0.07	0.44	1.21	0.73
Net Income	5.83	4.81	4.64	3.60	3.31	-0.37	3.54	2.16	1.47
Net Income - Continuous Operations	5.83	4.73	4.74	3.86	3.27	-0.37	3.54	2.16	1.47
Net Income - Discontinued Operations	-	0.08	-0.11	-0.26	-	-	-	-	-
EBITDA	8.86	1.06	0.93	0.83	0.92	0.36	5.20	4.13	3.08
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	1.15	1.06	0.93	0.83	0.92	0.91	1.22	0.77	0.84
Earnings Per Share
Basic EPS	3.00	1.00	1.00	-	-	-	1.00	1.00	-
Diluted EPS	3.00	1.00	1.00	1.00	1.00	-	1.00	1.00	-
Basic Shares Outstanding	2.01	8.45	4.59	9.87	10.79	2.81	2.80	2.79	2.75
Diluted Shares Outstanding	2.03	8.52	4.61	9.93	10.84	2.81	2.81	2.80	2.77

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About NatWest Group Financial Statements

What was NatWest Group's revenue in fiscal 2025?

NatWest Group reported revenue of GBP 29.48B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 105.5% from GBP 14.34B a year earlier.

Is NatWest Group profitable?

Yes. NatWest Group earned net income of GBP 5.83B in fiscal 2025, a net margin of 19.8%. In fiscal 2024 it earned GBP 4.81B.

What is NatWest Group's operating margin?

NatWest Group's operating income was GBP 7.71B on revenue of GBP 29.48B in fiscal 2025, an operating margin of 26.1%, compared with 43.2% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition