NatWest Group (NWG) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), NatWest Group had a P/E ratio of 9.51 (up from 7.16), return on equity of 14.2% (up from 12.4%), debt-to-equity of 3.65 (down from 3.85) and return on assets of 0.8% (up from 0.7%). Its dividend yield was 2.65% with a payout ratio of 40.6%.

NatWest Group Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	9.51	7.16	4.39	7.67	8.62	-
P/S Ratio	3.26	2.25	1.36	1.97	2.17	2.64
P/B Ratio	1.22	0.82	0.52	0.70	0.61	0.46
Price/Tangible Book	1.48	1.02	0.65	0.87	0.73	0.55
Enterprise Value Ratios
Profitability & Returns
Return on Equity (ROE)	14.23%	12.36%	12.88%	9.85%	6.65%	-1.43%
Return on Assets (ROA)	0.82%	0.68%	0.67%	0.51%	0.36%	-0.08%
Leverage & Solvency Ratios
Debt/Equity	3.65	3.85	3.94	4.41	4.35	5.23
Liquidity Ratios
Efficiency Ratios
Yield & Distribution Ratios
Earnings Yield	11.19%	14.85%	24.04%	14.01%	12.85%	-1.83%
FCF Yield	-25.10%	-31.13%	-5.36%	-34.77%	-3.78%	-166.86%
Dividend Yield	2.65%	2.95%	4.56%	3.26%	3.38%	1.28%
Payout Ratio	40.65%	37.23%	36.63%	40.51%	30.94%	-
Buyback Yield	4.58%	7.63%	7.15%	8.38%	3.51%	0.06%
Total Return	7.23%	10.58%	11.71%	11.64%	6.89%	1.34%

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 Ratios

What is NatWest Group's P/E ratio?

NatWest Group's P/E ratio was 9.51 for fiscal 2025 (period ended Dec 31, 2025). It was 7.16 a year earlier.

What is NatWest Group's return on equity?

NatWest Group's return on equity (ROE) was 14.2% for fiscal 2025 (period ended Dec 31, 2025). It was 12.4% a year earlier.

What is NatWest Group's debt-to-equity ratio?

NatWest Group's debt-to-equity ratio was 3.65 for fiscal 2025 (period ended Dec 31, 2025). It was 3.85 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition