HSBC vs. NWG: HSBC vs. NatWest Stock Comparison

Company Profile

HSBC (HSBC) and NatWest (NWG) are both classified in the Diversified Banks sub-industry within the broader Banks industry, placing them in the closest GICS peer bucket.

Both HSBC (HSBC) and NatWest (NWG) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Both HSBC (HSBC) at 14.22% and NatWest (NWG) at 14.58% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

For every dollar of sales, both HSBC (HSBC) at 41.16% and NatWest (NWG) at 36.93% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

Neither side reports a meaningful operating margin: for HSBC (HSBC) in Banks and NatWest (NWG) in Banks, funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

NatWest (NWG) at 13.35% is around its peer norm for revenue growth, while HSBC (HSBC) at 5.38% drops into the bottom quartile, signaling weaker demand or pricing momentum.

NatWest (NWG) at 26.93% is around its peer norm for EPS growth, while HSBC (HSBC) at -3.23% drops into the bottom quartile, signaling weaker earnings momentum.

Growth Metrics

Financial Strength

current ratio doesn’t apply on either side: HSBC (HSBC) in Banks and NatWest (NWG) in Banks both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

debt-to-equity ratio is set aside for both: HSBC (HSBC) in Banks and NatWest (NWG) in Banks run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Dividends

NatWest (NWG) at 2.19% pays a yield in its industry’s typical range, while HSBC (HSBC) at 0.86% falls in the bottom quartile of its peers.

Both HSBC (HSBC) at 53.57% and NatWest (NWG) at 47.43% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

Dividend Metrics

Valuation

NatWest (NWG) at 7.84 sits in the cheaper P/E ratio quartile, while HSBC (HSBC) at 11.38 is closer to its industry’s usual earnings multiple — a discount for NWG, though growth and earnings durability still matter.

P/S ratio is set aside for both HSBC (HSBC) in Banks and NatWest (NWG) in Banks: without a conventional revenue line, pricing per dollar of sales isn’t meaningful, and book- or earnings-based multiples make the better comparison.

NatWest (NWG) at 1.20 sits near its industry’s typical P/B ratio, while HSBC (HSBC) at 6.87 prices above its benchmark range — HSBC looks rich relative to book.

Valuation Metrics