NWG Net Debt / EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
Net Debt / EBITDA History
Historically priceyAbove avgAround avgBelow avgHistorically cheap
NWG Net Debt / EBITDA by year
Yearly range of NWG’s net debt / ebitda from 2016 to 2026. Over the full period it ranged from -257.4 to 116.7, averaging -18.9.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | -8.0 | -4.0 | -0.1 | -0.1 |
| 2025 | -11.9 | -6.4 | -1.5 | -1.5 |
| 2024 | -16.5 | -10.6 | -3.7 | -3.7 |
| 2023 | -17.8 | -12.2 | -6.2 | -6.2 |
| 2022 | -31.4 | -25.2 | -15.1 | -15.1 |
| 2021 | -160.3 | -62.0 | -25.0 | -25.0 |
| 2020 | -257.4 | -84.7 | -13.7 | -257.4 |
| 2019 | -18.7 | -13.7 | -4.5 | -4.5 |
| 2018 | -20.1 | -16.0 | -9.5 | -9.5 |
| 2017 | -18.1 | 39.0 | 116.7 | -18.1 |
| 2016 | 8.3 | 9.0 | 9.6 | 8.3 |
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How many years of operating earnings it would take to pay off the company's net debt. The most common leverage ratio — higher means more financial risk and less flexibility.
Formula
(Total Debt − Cash) / EBITDAHow to read this chart
Watch the trend more than the level. Declining ratio = deleveraging, growing financial flexibility. Rising ratio = increasing leverage, which constrains dividends, buybacks, and future investment.
Key caveats
- Sector context is essential: 3× is aggressive for a consumer brand but normal for a regulated utility. Always compare to sector peers.
- Large acquisitions spike the ratio temporarily — check whether the integration plan credibly drives paydown.
Pro — up to 30-year history
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