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 51,808 - -
Change - 0.71% -24.69% 67.66% 61.12% -0.57% - -
Enterprise Value (EV) 25,432 25,613 19,289 32,339 52,105 51,808 51,808 51,808
Change - 0.71% -24.69% 67.66% 61.12% -0.57% 0% 0%
P/E 8.92x 7.89x 4.6x 7.57x 9.67x 8.73x 7.95x 7.2x
PBR 0.63x 0.7x 0.52x 0.82x 1.37x 1.27x 1.18x 1.1x
PEG - 0.3x 0.1x 0.7x 0.4x 0.8x 0.8x 0.7x
Capitalization / Revenue 2.42x 1.95x 1.31x 2.2x 3.13x 2.86x 2.64x 2.52x
EV / Revenue 0x 0x 0x 0x 0x 2.86x 2.64x 2.52x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 5.5x 4.96x 4.62x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.1131 0.303 0.17 0.215 0.325 0.3729 0.4115 0.4557
Rate of return 4.65% 11.4% 7.75% 5.35% 4.99% 5.72% 6.32% 7%
EPS 2 0.2725 0.336 0.477 0.531 0.674 0.746 0.8199 0.9044
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 19,628 20,545
EBITDA - - - - - - - -
EBIT 1 4,001 5,469 6,756 6,554 8,379 9,422 10,454 11,211
Net income 1 2,950 3,340 4,394 4,519 5,834 6,012 6,512 6,949
Net Debt - - - - - - - -
Reference price 2 2.431 2.652 2.194 4.021 6.518 6.514 6.514 6.514
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.($)
13.07x - - 1.92% 879B
6.38x - - 4.86% 418B
11.77x - - 2.19% 381B
6.76x - - 4.69% 358B
12.16x - - 4.28% 340B
6.31x - - 4.89% 336B
6.89x - - 4.62% 304B
17.25x - - 2.44% 273B
14.75x - - 2.67% 265B
Average 10.59x 3.62% 394.9B
Weighted average by Cap. 10.70x 3.41%

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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  5. Valuation NatWest Group plc