LYGNYSECommercial Banks, NECAlso trades as LLDTF, LLOBF
Lloyds Banking Group plc
Financials through fiscal 2024, year ended Dec 31, 2025
$5.41−0.07 (-1.28%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2013 to 2024
Net margin
24.0%+19.5 pts over 5 years
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.
Generated
£45.67B
Used
£27.31B
Capital expenditure£19.06B70%Dividends£8.25B30%Share buybacks£00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin24.0%
×Asset turnover0.02×
×Equity multiplier19.82×
=Return on equity, FY202410.0%
| 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
6of 6 tests passed in fiscal 2024. Some tests lack the figures they need.
- 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