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NatWest Group (NWG) earnings and revenue breakdown

Latest: Q3 2026 · 6-K filed Oct 30, 2026 · NatWest Group (NWG) Q3 2026 earnings results →

Q3 2026 Revenue up 7% year over year to $4.6B · 35¢ of every $1 of revenue kept as net profit · operating margin 48.0%

NatWest Group made $4.6B in Q3 2026 (+7% Y/Y). Operating margin 48.0%, net earnings $1.6B. See where every dollar goes — costs, profit and cash — as a Sankey from the 6-K filed Oct 30, 2026.

Revenue$4.6B

Year over year+7%

Operating margin48.0%

Net earnings$1.6B

Operating cash flow—

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was £4.6B in Q3 2026, up 7% year over year and up 3% from the previous quarter.

Operating profit was £2.2B, a 48.0% margin (down 2.4 points year over year). Of the extra revenue versus a year earlier, 14% reached operating profit, below the 50% margin then. Total costs grew 12% against revenue growth of 7%. Net earnings were £1.6B, down 4% year over year. The effective tax rate was 27.4%.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	6-K	Oct 30, 2026	$4.6B	+7%	48.0%	$1.6B	—
Q2 2026	6-K	Jul 31, 2026	$4.5B	+23%	50.7%	$1.7B	—
Q1 2026	6-K	May 1, 2026	$4.4B	+0.8%	46.6%	$1.5B	—

Charts

Latest (Q3 2026): Y/Y +7%, Q/Q +3%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Commercial Banks, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.