NatWest Group
Financial ratios & Valuation

Forward Multiples (2025 – 2027)

202520262027
Price/Earnings ratio
34.1430.0912.01
Price/Sales ratio
7.367.015.42
Earnings per Share (EPS)
$0.43$0.49$1.23

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
-15.92-21.73-4.9824.4112.1816.56-92.2314.9014.689.0514.5812.18
Price/Sales ratio
3.002.652.072.631.974.113.704.634.002.961.284.11
Price/Book Value ratio
0.770.640.530.690.571.340.911.161.441.121.740.57
Price/Cash Flow ratio
-2.1637.74-7.180.86-115.39-15.871.370.90-1.20-3.1472.20-115.39
Price/Free Cash Flow ratio
-2.08256.67-5.740.89-31.06-13.791.390.92-1.19-2.8134.88-31.06
Price/Earnings Growth ratio
0.230.50-0.02-0.210.06-0.920.82-0.010.850.210.010.01
Dividend Yield
0.86%1.20%1.92%1.81%3.05%5.83%0.95%2.08%6.07%4.04%5.49%3.05%
Profitability Indicator Ratios
Gross Profit Margin
100%100%100%100%100%100%100%100%100%179.75%114.24%100%
Operating Profit Margin
21.42%12.15%-12.22%33.22%43.17%27.86%-2.67%40.56%58.21%43.57%14.19%27.86%
Pretax Profit Margin
18.02%-20.69%-32.36%17.50%25.17%29.69%-3.25%38.35%39.00%43.59%23.56%29.69%
Net Profit Margin
-18.89%-12.20%-41.69%10.78%16.18%24.82%-4.02%31.08%27.28%32.71%18.20%16.18%
Effective Tax Rate
72.22%-0.85%-28.56%36.80%35.96%10.20%-23.64%24.70%24.84%23.21%20.58%10.20%
Return on Assets
-0.26%-0.19%-0.65%0.18%0.31%0.48%-0.05%0.41%0.49%0.66%0.64%0.31%
Return On Equity
-4.84%-2.98%-10.81%2.85%4.72%8.12%-0.98%7.81%9.83%12.47%12.85%4.72%
Return on Capital Employed
0.29%0.35%-0.33%0.67%1.23%0.84%-0.05%0.76%2.83%0.89%0.56%0.84%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A2.22N/A
Quick Ratio
26.600.211.262.601.711.521.902.360.99N/A2.221.71
Cash ratio
26.420.210.220.890.380.300.480.780.32N/A1.360.38
Days of Sales Outstanding
12.099.1111.9210.788.677.047.308.61N/A7.52N/A7.04
Days of Inventory outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/A7.52N/AN/A
Days of Payables Outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-1.24KN/A
Cash Conversion Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/A7.521.24KN/A
Debt Ratios
Debt Ratio
0.050.050.040.050.06N/AN/AN/A0.00N/AN/AN/A
Debt Equity Ratio
1.030.760.800.820.91N/AN/AN/A0.17N/AN/AN/A
Long-term Debt to Capitalization
0.500.430.440.450.47N/AN/AN/A0.14N/AN/AN/A
Total Debt to Capitalization
0.500.430.440.450.47N/AN/AN/A0.14N/AN/AN/A
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0.34N/A
Cash Flow to Debt Ratio
-0.340.02-0.090.97-0.00N/AN/AN/A-6.96N/AN/A-0.00
Company Equity Multiplier
18.3515.2616.4315.2715.1716.6018.2218.7019.7318.6418.4915.17
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
-1.390.07-0.283.02-0.01-0.252.695.10-3.31-0.940.03-0.01
Free Cash Flow / Operating Cash Flow Ratio
1.040.141.240.973.711.150.980.981.011.1111.15
Cash Flow Coverage Ratio
-0.340.02-0.090.97-0.00N/AN/AN/A-6.96N/AN/A-0.00
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Dividend Payout Ratio
-13.82%-26.09%-9.58%44.34%37.19%96.75%-87.78%31.08%89.30%36.62%N/A96.75%