NWG vs. TD: NatWest vs. Toronto-Dominion Bank Stock Comparison

Company Profile

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

Toronto-Dominion Bank (TD) trades as ordinary local shares, while NatWest (NWG) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

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

NatWest (NWG) at 14.58% sits in the top ROE quartile, while Toronto-Dominion Bank (TD) at 12.83% is closer to the peer norm — stronger capital efficiency for NWG.

NatWest (NWG) at 36.93% keeps a top-quartile share of each sales dollar as profit, while Toronto-Dominion Bank (TD) at 26.62% keeps a bottom-quartile share.

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

Profitability Metrics

Growth

Both NatWest (NWG) at 13.35% and Toronto-Dominion Bank (TD) at 8.93% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Toronto-Dominion Bank (TD) at 144.92% clears its industry range for EPS growth, a much stronger earnings trajectory than NatWest (NWG) at 26.93%, which is closer to a typical peer reading.

Growth Metrics

Financial Strength

current ratio doesn’t apply on either side: NatWest (NWG) in Banks and Toronto-Dominion Bank (TD) 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: NatWest (NWG) in Banks and Toronto-Dominion Bank (TD) 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

Toronto-Dominion Bank (TD) at 3.52% delivers top-quartile income for its industry, while NatWest (NWG) at 2.19% pays a more typical yield — both are credible income propositions, TD the richer one.

Both NatWest (NWG) at 47.43% and Toronto-Dominion Bank (TD) at 46.36% 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 Toronto-Dominion Bank (TD) at 18.16 sits in the richer quartile — a clear split in what investors pay for each dollar of trailing earnings.

P/S ratio is set aside for both NatWest (NWG) in Banks and Toronto-Dominion Bank (TD) 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 is valued about in line with its industry on P/B ratio, while Toronto-Dominion Bank (TD) at 2.27 carries an above-peer premium to book — TD is pricier on assets.

Valuation Metrics