Side by sideHSBC (HSBA.L) and NatWest (NWG.L)Memos of October 10, 2026 and October 13, 2026
HSBC vs NatWest stock: the numbers side by side (October 2026)
How do HSBC and NatWest compare?
| HSBC HSBA.L | NatWest NWG.L | |
|---|---|---|
| Revenue growth | 3.7%Year to Dec 2025 | 13.2%2025 |
| Net interest margin | 1.6%Year to Dec 2025 | 2.3%2025 |
| CET1 capital ratio | 14.9%Year to Dec 2025 | 14.0%2025 |
| Dividend yield | 4.1%Today (Oct 8, 2026) | 5.0%Today (Oct 13, 2026) |
| P/E, last 12 months | 13.0xToday (Oct 8, 2026) | 8.7xToday (Oct 13, 2026) |
| P/E, next 12 months | 9.6xToday (Oct 8, 2026) | 7.8xToday (Oct 13, 2026) |
| Weighted price forecast, about 1 year | 1168.75 (-11 %)October 2027 | 653.55 (+6 %)October 2027 |
| Weighted price forecast, about 3 years | 1228.74 (+3 %)October 2029 | 722.22 (+29 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | NatWest | The higher figure |
| Net interest margin | NatWest | The higher figure |
| CET1 capital ratio | HSBC | The higher figure |
| Dividend yield | NatWest | The higher figure |
| P/E, last 12 months | NatWest | The lower figure |
| P/E, next 12 months | NatWest | The lower figure |
| Weighted price forecast, about 1 year | NatWest | The higher weighted return |
| Weighted price forecast, about 3 years | NatWest | The higher weighted return |
What does each company do?
HSBC is a global bank for individuals, businesses, financial institutions and public bodies.
HSBC (HSBA.L), from our memo of October 10, 2026 · HSBC stock forecast
NatWest takes deposits, makes loans, processes payments and sells banking and wealth services to households, businesses and institutions.
NatWest (NWG.L), from our memo of October 13, 2026 · NatWest stock forecast