Lloyds Banking Group plc (LLDTF) stock analysis
Close on Oct 19, 2026Market cap $73.68BP/E 13.5Yield –
StockData Score
Prices as of Nov 3, 2026How the score works
Weak3 of 30 checks passed
Lloyds Banking passes 3 of the 30 checks behind our score; 19 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 1/6
- Past performance
- 2/6
- Financial health
- 0/6
- Dividend
- 0/6
What stands out
Earnings grew over 5 years
Net income grew 28.7% a year on average over the last five fiscal years.
EPS growing 10%+ a year
Diluted EPS grew 12.1% a year over the last three fiscal years.
Net margin above its 5-year average
Net margin was 24.0% over the last twelve months, against a 5-year average of 23.2%.
What to watch
Return on equity under 15%
Return on equity was 9.9% over the last twelve months and averaged 10.2% over five years; we look for 15% on both.
Earnings growth not accelerating
Net income grew 5.4% over the last twelve months, against a 5-year average of 28.7% a year.
Thin capital
Equity is 4.7% of total assets; 8% or more is a comfortable cushion.
Growing slower than the industry
Revenue grew 7.9% over the last twelve months; the Commercial Banks median is 11.4%.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
P/S against the industry
Not enough revenue data to compare.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth1/6
Revenue growth over 3 years
Needs three years of positive revenue.
EPS growing 10%+ a year
Diluted EPS grew 12.1% a year over the last three fiscal years.
Earnings growth not accelerating
Net income grew 5.4% over the last twelve months, against a 5-year average of 28.7% a year.
Growing slower than the industry
Revenue grew 7.9% over the last twelve months; the Commercial Banks median is 11.4%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin trend
Banks and insurers do not report gross profit.
Past performance2/6
Return on equity under 15%
Return on equity was 9.9% over the last twelve months and averaged 10.2% over five years; we look for 15% on both.
Return on assets under 1%
Return on assets was 0.5%; for a bank or insurer, 1% or more is considered good.
Return on equity below the industry
Lloyds Banking's return on equity of 9.9% is below the Commercial Banks median of 11.2%.
Earnings grew over 5 years
Net income grew 28.7% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 24.0% over the last twelve months, against a 5-year average of 23.2%.
Net margin below the industry
Lloyds Banking's net margin of 24.0% is below the Commercial Banks median of 30.0%.
Financial health0/6
Thin capital
Equity is 4.7% of total assets; 8% or more is a comfortable cushion.
Loans funded by deposits
Needs loans and deposits.
Adequate loan-loss reserve
The allowance for credit losses is not reported.
Efficient operations
Needs non-interest expense and revenue.
Deposits growing
Needs deposits a year ago.
Borrowings
Needs debt and equity figures.
Dividend0/6
No dividend
Lloyds Banking has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Lloyds Banking. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $107.21M
- Value traded per 1% price move
- $68.38M
Downside
Low risk
- Typical loss in a bad month
- 13.2%
- Volatility (annualized)
- 30%
- Sharpe ratio, 1 year
- 0.04
- Beta to the S&P 500 (5Y)
- 0.92
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2013 to 2024
Net margin
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.9% | – | -7.8% | -1.7% | |
| Net income | +5.4% | +6.8% | +28.7% | +18.4% | |
| EPS, diluted | +11.3% | +12.1% | +41.9% | +24.0% | |
| Free cash flow | – | -68.2% | -52.2% | -26.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2015 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | 2.7% | 10.0% | |
| Return on assets | – | 0.2% | 0.5% | |
| Capex to revenue | 9.5% | 9.9% | 26.1% | |
| Diluted shares | 72.02B | 71.26B | 60.51B |
Where the cash went
Fiscal 2020 to 2024, five years combined
Lloyds Banking generated £45.67B from operations and spent £27.31B on capital expenditure, dividends and share buybacks. 70% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | 24.0% | 0.02× | 19.82× | 10.0% |
| FY2023 | 24.6% | 0.02× | 19.25× | 9.5% |
| FY2022 | 29.3% | 0.02× | 19.32× | 12.0% |
| FY2021 | -71.6% | -0.01× | 18.54× | 8.1% |
| FY2020 | 14.8% | 0.04× | 17.50× | 11.5% |
| FY2019 | 4.5% | 0.03× | 17.62× | 2.7% |
| FY2018 | 6.9% | 0.05× | 16.73× | 6.0% |
| FY2017 | 20.0% | 0.03× | 16.28× | 8.9% |
| FY2016 | 11.4% | 0.04× | 16.79× | 8.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
- ProfitableNet income above zero£4.66B
- Cash generatingOperating cash flow above zero£5.70B
- Return on assets improvedROA up on the prior year0.5% → 0.5%
- Earnings backed by cashOperating cash flow above net income£5.70B vs £4.66B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise63.07B → 60.51B
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.02 → 0.02
See a number that looks wrong?