NATWEST GROUP PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 309.4 GBX | +0.62% |
|
-1.81% | +41.02% |
| 11:54am | NatWest apologises to customers after mobile, online banking outages | AN |
| May. 25 | Sunak's summer election brings hope to Britain's bruised financial sector | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 29,021 | 20,308 | 25,432 | 25,613 | 19,289 | 26,780 | - | - |
| Enterprise Value (EV) 1 | 29,021 | 20,308 | 25,432 | 25,613 | 19,289 | 26,780 | 26,780 | 26,780 |
| P/E ratio | 9.28 x | -27 x | 8.92 x | 7.89 x | 4.6 x | 7.86 x | 7.25 x | 6.39 x |
| Yield | 9.16% | 1.79% | 4.65% | 11.4% | 7.75% | 5.31% | 5.64% | 6.25% |
| Capitalization / Revenue | 2.18 x | 1.88 x | 2.42 x | 1.95 x | 1.31 x | 1.94 x | 1.88 x | 1.79 x |
| EV / Revenue | 2.18 x | 1.88 x | 2.42 x | 1.95 x | 1.31 x | 1.94 x | 1.88 x | 1.79 x |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 0.67 x | 0.46 x | 0.63 x | 0.7 x | 0.52 x | 0.74 x | 0.68 x | 0.63 x |
| Nbr of stocks (in thousands) | 11,214,272 | 11,247,939 | 10,463,285 | 9,658,084 | 8,791,563 | 8,709,027 | - | - |
| Reference price 2 | 2.588 | 1.805 | 2.431 | 2.652 | 2.194 | 3.075 | 3.075 | 3.075 |
| Announcement Date | 2/14/20 | 2/19/21 | 2/18/22 | 2/17/23 | 2/16/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 13,298 | 10,796 | 10,512 | 13,156 | 14,752 | 13,773 | 14,274 | 14,942 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT 1 | 6,249 | 4,017 | 4,001 | 5,469 | 6,756 | 5,845 | 6,235 | 6,780 |
| Operating Margin | 46.99% | 37.21% | 38.06% | 41.57% | 45.8% | 42.44% | 43.68% | 45.37% |
| Earnings before Tax (EBT) 1 | 4,232 | -351 | 4,032 | 5,132 | 6,178 | 5,022 | 5,270 | 5,783 |
| Net income 1 | 3,133 | -753 | 2,950 | 3,340 | 4,394 | 3,411 | 3,554 | 3,945 |
| Net margin | 23.56% | -6.97% | 28.06% | 25.39% | 29.79% | 24.77% | 24.9% | 26.4% |
| EPS 2 | 0.2789 | -0.0668 | 0.2725 | 0.3360 | 0.4770 | 0.3912 | 0.4242 | 0.4815 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0.2369 | 0.0323 | 0.1131 | 0.3030 | 0.1700 | 0.1632 | 0.1736 | 0.1921 |
| Announcement Date | 2/14/20 | 2/19/21 | 2/18/22 | 2/17/23 | 2/16/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,785 | - | - | 2,622 | 3,027 | 3,211 | - | 3,229 | 3,708 | 3,876 | 3,851 | 3,488 | 3,537 | 3,475 | 3,368 | 3,432 | 3,422 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 2,410 | - | 2,112 | 858 | 1,207 | 1,378 | - | 1,333 | 1,570 | 1,888 | 1,924 | 1,561 | 1,383 | 1,423 | - | - | - |
| Operating Margin | 41.66% | - | - | 32.72% | 39.87% | 42.91% | - | 41.28% | 42.34% | 48.71% | 49.96% | 44.75% | 39.1% | 40.95% | - | - | - |
| Earnings before Tax (EBT) | -770 | - | - | 635 | 1,245 | 1,396 | - | 1,086 | 1,426 | 1,818 | 1,771 | 1,332 | 1,257 | - | - | - | - |
| Net income 1 | -705 | - | - | 434 | 841 | 1,050 | - | 187 | 1,262 | 1,279 | 1,020 | 866 | 1,229 | 918 | 815.3 | 857.3 | 692 |
| Net margin | -12.19% | - | - | 16.55% | 27.78% | 32.7% | - | 5.79% | 34.03% | 33% | 26.49% | 24.83% | 34.75% | 26.42% | 24.21% | 24.98% | 20.22% |
| EPS 2 | -0.0625 | - | - | 0.0409 | 0.0808 | 0.1077 | - | 0.0190 | 0.1300 | 0.1320 | 0.1090 | 0.0980 | 0.1390 | 0.1050 | 0.0983 | 0.1028 | 0.0900 |
| Dividend per Share 2 | - | 0.0323 | - | 0.0808 | - | 0.0377 | 0.0377 | - | 0.1000 | - | 0.0550 | - | 0.1150 | - | 0.0550 | - | 0.1184 |
| Announcement Date | 7/31/20 | 2/19/21 | 7/30/21 | 2/18/22 | 4/29/22 | 7/29/22 | 7/29/22 | 10/28/22 | 2/17/23 | 4/28/23 | 7/28/23 | 10/27/23 | 2/16/24 | 4/26/24 | - | - | - |
1GBP in Million2GBP
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 9.4% | -2.4% | 6.89% | 8.53% | 12.1% | 10% | 9.91% | 10.3% |
| ROA (Net income/ Total Assets) | 0.44% | -0.1% | 0.37% | 0.44% | 0.62% | 0.48% | 0.48% | 0.55% |
| Assets 1 | 708,663 | 761,298 | 790,673 | 751,068 | 706,317 | 716,875 | 734,723 | 722,985 |
| Book Value Per Share 2 | 3.880 | 3.890 | 3.870 | 3.780 | 4.230 | 4.150 | 4.500 | 4.880 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 2/14/20 | 2/19/21 | 2/18/22 | 2/17/23 | 2/16/24 | - | - | - |
1GBP in Million2GBP
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
3.075
GBP
Average target price
3.303
GBP
Spread / Average Target
+7.41%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +41.87% | 34.21B | |
| +18.00% | 576B | |
| +17.91% | 310B | |
| +21.47% | 256B | |
| +22.33% | 210B | |
| +25.59% | 189B | |
| +29.53% | 173B | |
| +8.22% | 164B | |
| +7.57% | 149B | |
| -10.43% | 140B |
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