NatWest Group PLC (NWG) - Net Assets

Latest as of March 2026: GBX43.67 Billion GBX ≈ $5.31 Million USD

Based on the latest financial reports, NatWest Group PLC (NWG) has net assets worth GBX43.67 Billion GBX (≈ $5.31 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX749.64 Billion ≈ $91.21 Million USD) and total liabilities (GBX705.97 Billion ≈ $85.90 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check tangible net worth ratio of NatWest Group PLC to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	GBX43.67 Billion
% of Total Assets	5.83%
Annual Growth Rate	2.64%
5-Year Change	1.94%
10-Year Change	-13.75%
Growth Volatility	49.24

NatWest Group PLC - Net Assets Trend (1985–2025)

This chart illustrates how NatWest Group PLC's net assets have evolved over time, based on quarterly financial data. See NatWest Group PLC defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for NatWest Group PLC (1985–2025)

The table below shows the annual net assets of NatWest Group PLC from 1985 to 2025. For live valuation and market cap data, see NatWest Group PLC market capitalisation.

Year	Net Assets	Change
2025-12-31	GBX42.61 Billion ≈ $5.18 Million	+8.22%
2024-12-31	GBX39.38 Billion ≈ $4.79 Million	+5.89%
2023-12-31	GBX37.19 Billion ≈ $4.52 Million	+1.90%
2022-12-31	GBX36.50 Billion ≈ $4.44 Million	-12.70%
2021-12-31	GBX41.80 Billion ≈ $5.09 Million	-4.61%
2020-12-31	GBX43.82 Billion ≈ $5.33 Million	+0.62%
2019-12-31	GBX43.56 Billion ≈ $5.30 Million	-6.31%
2018-12-31	GBX46.49 Billion ≈ $5.66 Million	-5.30%
2017-12-31	GBX49.09 Billion ≈ $5.97 Million	-0.63%
2016-12-31	GBX49.40 Billion ≈ $6.01 Million	-8.76%
2015-12-31	GBX54.15 Billion ≈ $6.59 Million	-10.04%
2014-12-31	GBX60.19 Billion ≈ $7.32 Million	+1.65%
2013-12-31	GBX59.22 Billion ≈ $7.20 Million	-15.95%
2012-12-31	GBX70.45 Billion ≈ $8.57 Million	-7.37%
2011-12-31	GBX76.05 Billion ≈ $9.25 Million	-1.04%
2010-12-31	GBX76.85 Billion ≈ $9.35 Million	-18.79%
2009-12-31	GBX94.63 Billion ≈ $11.51 Million	+47.14%
2008-12-31	GBX64.31 Billion ≈ $7.83 Million	-29.65%
2007-12-31	GBX91.43 Billion ≈ $11.12 Million	+100.98%
2006-12-31	GBX45.49 Billion ≈ $5.53 Million	+21.16%
2005-12-31	GBX37.54 Billion ≈ $4.57 Million	+0.39%
2004-12-31	GBX37.40 Billion ≈ $4.55 Million	+44.46%
2003-12-31	GBX25.89 Billion ≈ $3.15 Million	-10.39%
2002-12-31	GBX28.89 Billion ≈ $3.52 Million	-91.82%
2001-12-31	GBX353.17 Billion ≈ $42.97 Million	+14.09%
2000-12-31	GBX309.57 Billion ≈ $37.67 Million	+260.72%
1999-09-30	GBX85.82 Billion ≈ $10.44 Million	+11.36%
1998-09-30	GBX77.06 Billion ≈ $9.38 Million	+10.01%
1997-09-30	GBX70.05 Billion ≈ $8.52 Million	+19.00%
1996-09-30	GBX58.87 Billion ≈ $7.16 Million	+19.07%
1995-09-30	GBX49.44 Billion ≈ $6.02 Million	+13.33%
1994-09-30	GBX43.62 Billion ≈ $5.31 Million	+21.39%
1993-09-30	GBX35.93 Billion ≈ $4.37 Million	+4.34%
1992-09-30	GBX34.44 Billion ≈ $4.19 Million	+7.43%
1991-09-30	GBX32.06 Billion ≈ $3.90 Million	+6.96%
1990-09-30	GBX29.97 Billion ≈ $3.65 Million	+9.74%
1989-09-30	GBX27.31 Billion ≈ $3.32 Million	+26.82%
1988-09-30	GBX21.53 Billion ≈ $2.62 Million	+44.36%
1985-09-30	GBX14.92 Billion ≈ $1.81 Million	--

Equity Component Analysis

This analysis shows how different components contribute to NatWest Group PLC's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 1441900000000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	GBX14.42 Billion	33.85%
Common Stock	GBX10.02 Billion	23.52%
Other Components	GBX18.16 Billion	42.63%
Total Equity	GBX42.60 Billion	100.00%

NatWest Group PLC Competitors by Market Cap

The table below lists competitors of NatWest Group PLC ranked by their market capitalization.

Company	Market Cap
Empresa Distribuidora y Comercializadora Norte S.A. BA:EDN	$617.41 Million
Zinwell Corporation TW:2485	$617.55 Million
Heilongjiang Publishing & Media Co Ltd SHG:605577	$617.84 Million
CHA Biotech Co. Ltd KQ:085660	$617.89 Million
NV Nederlandsche Apparatenfabriek Nedap AS:NEDAP	$617.34 Million
Energiekontor AG F:EKT	$617.01 Million
FERROGLOBE PLC DL 750 F:5FG	$616.83 Million
YLZ Information Tech Co SHE:300096	$616.64 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in NatWest Group PLC's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 39,350,000,000 to 42,599,000,000, a change of 3,249,000,000 (8.3%).
Net income of 5,831,000,000 contributed positively to equity growth.
Dividend payments of 2,376,000,000 reduced retained earnings.
Share repurchases of 2,558,000,000 reduced equity.
New share issuances of 1,248,000,000 increased equity.
Other comprehensive income decreased equity by 18,659,000,000.
Other factors increased equity by 19,763,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	GBX5.83 Billion	+13.69%
Dividends Paid	GBX2.38 Billion	-5.58%
Share Repurchases	GBX2.56 Billion	-6.0%
Share Issuances	GBX1.25 Billion	+2.93%
Other Comprehensive Income	GBX-18.66 Billion	-43.8%
Other Changes	GBX19.76 Billion	+46.39%
Total Change	GBX-	8.26%

Book Value vs Market Value Analysis

This analysis compares NatWest Group PLC's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 121.66x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 7962.23x to 121.66x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1985-09-30	GBX0.08	GBX637.80	x
1986-09-30	GBX0.09	GBX637.80	x
1987-09-30	GBX0.10	GBX637.80	x
1988-09-30	GBX0.12	GBX637.80	x
1989-09-30	GBX0.13	GBX637.80	x
1990-09-30	GBX0.14	GBX637.80	x
1991-09-30	GBX0.15	GBX637.80	x
1992-09-30	GBX0.16	GBX637.80	x
1993-09-30	GBX0.17	GBX637.80	x
1994-09-30	GBX0.17	GBX637.80	x
1995-09-30	GBX0.20	GBX637.80	x
1996-09-30	GBX0.23	GBX637.80	x
1997-09-30	GBX0.28	GBX637.80	x
1998-09-30	GBX0.27	GBX637.80	x
1999-09-30	GBX0.38	GBX637.80	x
2000-12-31	GBX2.10	GBX637.80	x
2001-12-31	GBX2.51	GBX637.80	x
2002-12-31	GBX2.46	GBX637.80	x
2003-12-31	GBX2.11	GBX637.80	x
2004-12-31	GBX3.08	GBX637.80	x
2005-12-31	GBX3.22	GBX637.80	x
2006-12-31	GBX3.66	GBX637.80	x
2007-12-31	GBX4.82	GBX637.80	x
2008-12-31	GBX5.35	GBX637.80	x
2009-12-31	GBX7.07	GBX637.80	x
2010-12-31	GBX7.54	GBX637.80	x
2011-12-31	GBX7.45	GBX637.80	x
2012-12-31	GBX6.61	GBX637.80	x
2013-12-31	GBX5.59	GBX637.80	x
2014-12-31	GBX5.39	GBX637.80	x
2015-12-31	GBX4.97	GBX637.80	x
2016-12-31	GBX4.46	GBX637.80	x
2017-12-31	GBX4.36	GBX637.80	x
2018-12-31	GBX4.08	GBX637.80	x
2019-12-31	GBX3.88	GBX637.80	x
2020-12-31	GBX3.91	GBX637.80	x
2021-12-31	GBX3.86	GBX637.80	x
2022-12-31	GBX3.67	GBX637.80	x
2023-12-31	GBX4.03	GBX637.80	x
2024-12-31	GBX4.62	GBX637.80	x
2025-12-31	GBX5.24	GBX637.80	x

Capital Efficiency Dashboard

This dashboard shows how efficiently NatWest Group PLC utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 13.69%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 19.54%
• Asset Turnover: 0.04x
• Equity Multiplier: 16.77x
Recent ROE (13.69%) is above the historical average (6.92%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1989	16.19%	0.00%	0.00x	19.46x	GBX87.23 Million
1990	17.39%	0.00%	0.00x	19.97x	GBX111.46 Million
1991	3.60%	0.00%	0.00x	20.09x	GBX-102.45 Million
1992	1.44%	0.00%	0.00x	19.64x	GBX-150.72 Million
1993	9.36%	0.00%	0.00x	19.90x	GBX-12.10 Million
1994	20.22%	0.00%	0.00x	23.91x	GBX193.60 Million
1995	18.41%	0.00%	0.00x	23.69x	GBX181.80 Million
1996	19.78%	0.00%	0.00x	24.37x	GBX245.20 Million
1997	16.78%	0.00%	0.00x	23.88x	GBX206.00 Million
1998	23.55%	0.00%	0.00x	27.00x	GBX399.90 Million
1999	20.38%	0.00%	0.00x	21.16x	GBX436.00 Million
2000	9.38%	11.46%	0.06x	13.84x	GBX-142.60 Million
2001	9.50%	11.86%	0.06x	13.35x	GBX-137.00 Million
2002	11.36%	13.65%	0.05x	16.30x	GBX368.80 Million
2003	17.17%	20.63%	0.04x	19.61x	GBX1.66 Billion
2004	15.08%	16.25%	0.05x	17.35x	GBX1.72 Billion
2005	15.52%	19.92%	0.04x	21.92x	GBX1.96 Billion
2006	15.89%	21.49%	0.03x	21.66x	GBX2.37 Billion
2007	14.23%	23.36%	0.02x	34.71x	GBX2.25 Billion
2008	-40.27%	-111.66%	0.01x	37.68x	GBX-29.60 Billion
2009	-3.31%	-6.17%	0.02x	21.82x	GBX-10.35 Billion
2010	-1.33%	-2.90%	0.02x	19.35x	GBX-8.51 Billion
2011	-2.87%	-6.80%	0.02x	20.14x	GBX-9.63 Billion
2012	-8.44%	-27.55%	0.02x	19.26x	GBX-12.56 Billion
2013	-14.64%	-40.00%	0.02x	17.50x	GBX-14.47 Billion
2014	-4.84%	-14.99%	0.02x	18.36x	GBX-8.50 Billion
2015	-2.98%	-9.91%	0.02x	15.26x	GBX-6.94 Billion
2016	-10.70%	-34.86%	0.02x	16.43x	GBX-10.06 Billion
2017	2.86%	9.35%	0.02x	15.27x	GBX-3.45 Billion
2018	4.72%	13.72%	0.02x	15.18x	GBX-2.41 Billion
2019	8.13%	23.52%	0.02x	16.60x	GBX-815.70 Million
2020	-1.66%	-9.46%	0.01x	18.23x	GBX-5.11 Billion
2021	7.82%	27.82%	0.02x	18.71x	GBX-911.60 Million
2022	9.84%	27.65%	0.02x	19.73x	GBX-59.80 Million
2023	12.48%	32.71%	0.02x	18.64x	GBX920.30 Million
2024	12.20%	33.48%	0.02x	17.99x	GBX867.00 Million
2025	13.69%	19.54%	0.04x	16.77x	GBX1.57 Billion

Industry Comparison

This section compares NatWest Group PLC's net assets metrics with peer companies in the Banks - Regional industry.

Industry Context

Industry: Banks - Regional
Average net assets among peers: $422,577,841,000
Average return on equity (ROE) among peers: 12.77%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
NatWest Group PLC (NWG)	GBX43.67 Billion	16.19%	16.17x	$617.40 Million
Arbuthnot Banking Group Plc (ARBB)	$200.88 Million	3.38%	15.72x	$1.65 Million
Axis Bank Ltd GDR (AXB)	$1.88 Trillion	14.93%	7.82x	$441.42 Million
Lion Finance Group PLC (BGEO)	$2.73 Billion	16.02%	4.55x	$60.59 Million
Close Brothers Group plc (CBG)	$114.42 Million	18.43%	7.07x	$8.32 Million
Halyk Bank of Kazakhstan Joint Stock Company (HSBK)	$1.91 Trillion	28.97%	6.49x	$6.48 Billion
Lloyds Banking Group PLC (LLOY)	$4.84 Billion	23.33%	29.56x	$752.41 Million
Manx Financial Group Plc (MFX)	$8.60 Million	0.00%	4.73x	$344.07K
Metro Bank PLC (MTRO)	$1.18 Billion	3.59%	13.86x	$13.62 Million
Nationwide Building Society (NBS)	$4.19 Billion	6.28%	19.41x	$1.19 Billion

About NatWest Group PLC

LSE:NWG UK Banks - Regional

Market Cap

$617.40 Million

GBX5.07 Trillion GBX

Market Cap Rank

#11340 Global

#42 in UK

Share Price

GBX637.80

Change (1 day)

-0.53%

52-Week Range

GBX473.80 - GBX694.20

All Time High

GBX694.20