NatWest Group plc (RBSPF)
Financial Services · PNK
Fundamentals
Valuation and ratings
NatWest Group plc trades at USD9.29, which is 117% below the USD20.17 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 52 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 9.9 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
RBSPF dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.305 | 1 |
| 2025 | USD0.328 | 2 |
| 2024 | USD0.223 | 2 |
| 2023 | USD0.191 | 2 |
| 2022 | USD0.363 | 3 |
| 2021 | USD0.089 | 2 |
| 2020 | USD0.102 | 1 |
| 2019 | USD0.338 | 2 |
| 2018 | USD0.028 | 1 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
RBSPF earnings and analyst estimates
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About NatWest Group plc
NatWest Group plc, together with its subsidiaries, provides banking and financial products and services in the United Kingdom and internationally. It operates through the Retail Banking, Private Banking, and Commercial & Institutional segments. The Retail Banking segment offers a range of banking products and related financial services, such as current accounts, mortgages, personal unsecured lending, and personal deposits, as well as mobile and online banking services. Its Private Banking segment provides banking, lending, and wealth management products for high-net-worth individuals and their business interests. The Commercial & Institutional segment consists of customer businesses under business banking, commercial mid-market, and corporates and institutions; and offers banking operations services in the Channel Islands, Isle of Man, Gibraltar, and Luxembourg, as well as products and solutions for businesses comprising start-ups, corporates, and large institutions. The company was formerly known as The Royal Bank of Scotland Group plc and changed its name to NatWest Group plc in July 2020. NatWest Group plc was founded in 1727 and is headquartered in Edinburgh, the United Kingdom.
RBSPF passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is NatWest Group plc (RBSPF) undervalued?
Against our discounted cash flow estimate of USD20.17, RBSPF at USD9.29 is 117% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is RBSPF's P/E ratio?
RBSPF trades at 9.9 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does NatWest Group plc (RBSPF) pay a dividend?
Yes. NatWest Group plc yields 5.00% at the current share price. It has paid USD0.432 per share over the trailing twelve months. It has paid a dividend in each of the last 8 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
When does RBSPF report earnings next?
NatWest Group plc is scheduled to report on 31 Jul 2026. Companies move earnings dates, so read it as scheduled rather than certain.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.