Company Valuation: NatWest Group plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 25,432 25,613 19,289 32,339 52,105 55,228 - -
Change - 0.71% -24.69% 67.66% 61.12% 5.99% - -
Enterprise Value (EV) 25,432 25,613 19,289 32,339 52,105 55,228 55,228 55,228
Change - 0.71% -24.69% 67.66% 61.12% 5.99% 0% 0%
P/E 8.92x 7.89x 4.6x 7.57x 9.67x 9.3x 8.48x 7.68x
PBR 0.63x 0.7x 0.52x 0.82x 1.37x 1.35x 1.26x 1.17x
PEG - 0.3x 0.1x 0.7x 0.4x 0.9x 0.87x 0.7x
Capitalization / Revenue 2.42x 1.95x 1.31x 2.2x 3.13x 3.05x 2.81x 2.69x
EV / Revenue 0x 0x 0x 0x 0x 3.05x 2.81x 2.69x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 5.86x 5.29x 4.93x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.1131 0.303 0.17 0.215 0.325 0.373 0.4112 0.4554
Rate of return 4.65% 11.4% 7.75% 5.35% 4.99% 5.37% 5.92% 6.56%
EPS 2 0.2725 0.336 0.477 0.531 0.674 0.7464 0.819 0.9036
Distribution rate 41.5% 90.2% 35.6% 40.5% 48.2% 50% 50.2% 50.4%
Net sales 1 10,512 13,156 14,752 14,703 16,641 18,126 19,622 20,539
EBITDA - - - - - - - -
EBIT 1 4,001 5,469 6,756 6,554 8,379 9,423 10,447 11,206
Net income 1 2,950 3,340 4,394 4,519 5,834 6,016 6,509 6,947
Net Debt - - - - - - - -
Reference price 2 2.431 2.652 2.194 4.021 6.518 6.944 6.944 6.944
Nbr of stocks (in thousands) 10,463,285 9,658,084 8,791,563 8,042,415 7,994,018 7,953,385 - -
Announcement Date 2/18/22 2/17/23 2/16/24 2/14/25 2/13/26 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.17x - - 5.45% 71.97B
13.38x - - 1.88% 900B
6.35x - - 4.88% 411B
12.07x - - 2.13% 392B
12.12x - - 4.3% 339B
6.24x - - 4.95% 331B
6.85x - - 4.64% 300B
17.38x - - 2.42% 276B
14.28x - - 2.76% 253B
11.23x - - 2.32% 249B
Average 10.91x 3.57% 352.27B
Weighted average by Cap. 11.21x 3.23%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  4. Valuation NatWest Group plc