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NatWest Group plc American Depositary Shares, (each representing two (2) Ordinary Shares) (NWG) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

NYSE · DATA UPDATED 2026-09-10

NatWest Group plc American Depositary Shares, (each representing two (2) Ordinary Shares) (NWG) operates in the NYSE industry and is headquartered in Edinburgh, United Kingdom with about 59,000 employees. Its market capitalization is roughly $69 billion. In the fiscal year ended 2025-12-31, NWG reported £29.5B in revenue and £5.8B in net income.

NatWest Group plc, together with its subsidiaries, provides banking and financial products and services in the United Kingdom and internationally. It operates through the Retail Banking, Private Banking, and Commercial & Institutional segments.

Interactive charts & full statements → Open the NWG valuation workbench →

NWG Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	£30.2B	£29.5B	£28.6B	£24.8B	£16.1B	£12.0B	£13.1B	£15.0B	£15.7B	£14.8B	£14.9B	£16.1B	£18.5B	£21.5B	£20.9B	£31.6B	£34.5B	£41.7B	£45.3B	£49.7B	£41.8B
Gross Profit	£17.6B	£16.6B	£14.7B	£14.8B	£13.4B	£10.3B	£10.8B	£11.7B	£13.3B	£12.7B	£12.4B	£12.9B	£14.7B	£16.0B	£14.1B	£22.9B	£25.9B	£28.8B	£18.6B	£29.5B	£27.7B
Gross Margin %	58.2%	56.3%	51.3%	59.7%	82.7%	85.9%	82.2%	77.9%	84.8%	86.1%	82.9%	80.4%	79.3%	74.6%	67.8%	72.4%	75.2%	69.0%	41.1%	59.4%	66.3%
Operating Income (EBIT)	£8.5B	£7.7B	£6.2B	£6.2B	£5.1B	£3.8B	(£553M)	£4.0B	£3.4B	£2.2B	(£4.1B)	(£2.7B)	£2.6B	(£8.8B)	(£6.1B)	(£1.4B)	(£154M)	(£2.6B)	(£25.7B)	£9.8B	£9.2B
Operating Margin %	28.0%	26.2%	21.7%	24.9%	31.8%	31.9%	-4.2%	26.5%	21.3%	15.2%	-27.4%	-16.8%	14.3%	-41.2%	-29.0%	-4.4%	-0.4%	-6.3%	-56.7%	19.8%	22.0%
Net Income	£6.3B	£5.8B	£4.8B	£4.6B	£3.6B	£3.3B	(£372M)	£3.5B	£2.2B	£1.5B	(£5.3B)	(£1.6B)	(£2.8B)	(£8.6B)	(£5.8B)	(£2.2B)	(£1.0B)	(£2.7B)	(£23.7B)	£7.5B	£6.4B
Net Margin %	21.0%	19.8%	16.8%	18.7%	22.2%	27.2%	-2.8%	23.5%	13.7%	10.0%	-35.2%	-9.9%	-15.0%	-40.0%	-27.6%	-6.8%	-2.9%	-6.4%	-52.3%	15.2%	15.3%
EBITDA	£9.3B	£8.9B	£7.3B	£7.1B	£6.0B	£4.8B	£361M	£5.2B	£4.1B	£3.1B	(£3.2B)	(£1.5B)	£3.8B	(£7.4B)	(£4.2B)	£479M	£2.1B	£162M	(£22.5B)	£11.8B	£10.9B
Earnings Per Share (EPS)	£3.14	£2.87	£2.26	£2.01	£0.36	£0.32	£-0.03	£0.31	£0.77	£0.53	£-1.93	£-0.59	£-1.04	£-3.31	£-2.23	£-0.86	£-0.40	£-0.97	£-8.62	£2.75	£2.32
Shares Outstanding (M)	2,014M	2,032M	2,129M	2,305M	9,929M	10,063M	11,231M	11,238M	2,800M	2,771M	2,726M	2,687M	2,657M	2,599M	2,578M	2,512M	2,490M	2,750M	2,750M	2,750M	2,750M

GBP; £M / £B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NWG Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	£7.9B	£7.4B	£7.4B	£7.5B	£7.3B	£7.3B	£7.3B	£7.3B
Gross Profit	£4.6B	£4.4B	£4.3B	£4.3B	£4.0B	£4.0B	£3.8B	£3.7B
Gross Margin %	58.2%	59.0%	58.1%	57.4%	55.0%	54.8%	52.0%	51.4%
Operating Income (EBIT)	£2.3B	£2.0B	£1.9B	£2.2B	£1.8B	£1.8B	£1.5B	£1.7B
Operating Margin %	29.2%	27.5%	26.2%	28.9%	24.4%	24.9%	20.5%	23.0%
Net Income	£1.7B	£1.5B	£1.5B	£1.7B	£1.3B	£1.3B	£1.3B	£1.2B
Net Margin %	21.5%	20.4%	20.0%	22.3%	18.4%	18.5%	18.3%	17.1%
EBITDA	£2.3B	£2.3B	£2.2B	£2.5B	£2.1B	£2.1B	£1.8B	£1.9B
Earnings Per Share (EPS)	£0.84	£0.75	£0.73	£0.82	£0.65	£0.66	£0.65	£0.59
Shares Outstanding (M)	2,014M	2,011M	2,025M	2,038M	2,045M	2,045M	2,053M	2,093M

GBP; £M / £B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NWG Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	—	£7.1B	£1.8B	(£17.4B)	(£43.6B)	£53.7B	£29.1B	(£3.7B)	(£228M)	£38.7B	(£3.6B)	£918M	(£20.4B)	(£30.6B)	(£45.1B)	£1.9B	£19.3B	(£992M)	(£75.3B)	£29.8B	£12.6B
Capital Expenditures (CapEx)	£0M	£1.3B	£1.1B	£1.6B	£639M	£901M	£376M	£559M	£619M	£1.1B	£912M	£783M	£816M	£626M	£1.5B	£3.5B	£2.1B	£4.9B	£5.8B	£5.1B	£4.3B
Free Cash Flow (FCF)	—	£5.8B	£694M	(£19.0B)	(£44.2B)	£52.8B	£28.7B	(£4.3B)	(£847M)	£37.6B	(£4.6B)	£135M	(£21.2B)	(£31.3B)	(£46.6B)	(£1.6B)	£17.2B	(£5.9B)	(£81.1B)	£24.7B	£8.3B
FCF Margin %	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Dividends Paid	—	£2.4B	£1.8B	£1.7B	£3.2B	£1.0B	£381M	£3.4B	£803M	£612M	£504M	£416M	£383M	£403M	£301M	£40M	£4.2B	£1.2B	£3.2B	£3.4B	£2.7B

GBP; £M / £B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NWG Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2025-12-31	2025-06-30	2024-12-31
Cash from Operations (CFO)	£7.1B	£5.1B	£1.8B
Free Cash Flow (FCF)	£7.1B	£5.1B	£1.8B
FCF Margin %	—	—	—

GBP; £M / £B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NWG Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	£745.4B	£714.6B	£708.0B	£692.7B	£720.1B	£782.0B	£799.5B	£723.0B	£694.2B	£738.1B	£798.7B	£815.4B	£1.05T	£1.03T	£1.31T	£1.51T	£1.45T	£1.70T	£2.22T	£1.84T	£871.4B
Cash & Cash Equivalents	£77.1B	£85.3B	£93.1B	£104.5B	£144.8B	£177.8B	£124.5B	£77.9B	£88.9B	£98.3B	£74.2B	£79.4B	£74.9B	£82.7B	£79.3B	£79.3B	£57.0B	£52.3B	£11.8B	£17.9B	£6.1B
Total Liabilities	£701.5B	£671.9B	£668.6B	£655.5B	£683.6B	£8.4B	£10.0B	£10.0B	£647.7B	£689.0B	£749.3B	£761.3B	£990.6B	£968.7B	£1.24T	£1.43T	£1.38T	£1.60T	£2.15T	£1.75T	£825.9B
Total Debt (Short + Long-Term)	£32.2B	£59.8B	£52.5B	£116.7B	£104.7B	£110.3B	£78.6B	£97.7B	£42.9B	£33.0B	£38.9B	£40.9B	£0M	£0M	£0M	£0M	£0M	£0M	£0M	£0M	£0M
Total Shareholders' Equity	£43.8B	£42.6B	£39.4B	£37.2B	£36.5B	£773.6B	£789.5B	£713.1B	£45.7B	£48.3B	£48.6B	£53.4B	£57.2B	£58.7B	£68.1B	£74.8B	£75.1B	£77.7B	£58.9B	£53.0B	£40.2B

GBP; £M / £B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive NWG viewer.

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