Lloyds Banking Group plc
Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial products and services for retail and commercial customers in the United Kingdom. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment…
Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial products and services for retail and commercial customers in the United Kingdom. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, credit cards, unsecured loans, motor finance, and leasing solutions to personal customers. Its Commercial Banking segment provides lending, transactional banking, working capital management, debt financing, and risk management services to small and medium businesses, corporates, and institutions. The Insurance, Pensions and Investments segment offers insurance, investment, and pension management products and services. It also provides life assurance; and digital banking services. The company offers its products and services under the Lloyds Bank, Halifax, Bank of Scotland, Scottish Widows, MBNA, Schroders Personal Wealth, Black Horse, Lex Autolease, Birmingham Midshires, LDC, AMC, Embark Group, Lloyds Living, Cavendish Online, Tusker, and HGP brands. The company was formerly known as Lloyds TSB Group plc and changed its name to Lloyds Banking Group plc in January 2009. Lloyds Banking Group plc was founded in 1695 and is headquartered in London, the United Kingdom.After signing in, return here and select “Add to watchlist”. Saving companies requires a verified email address.
No valuation verdict yet
Why: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Start with the price and fair value range, then review the data dates and assumptions below. Estimates are not predictions or investment advice.
Selected model not applicable
DCF (trailing free cash flow) needs inputs this company does not have (for example positive earnings, free cash flow or EBITDA), so it gives no usable value.
Assumptions: growth 10.82%, discount rate 9.60%, terminal growth 2.40% (sector defaults). See a worked example.
Blended growth assumption: 10.8% (sector default 5.4%, own revenue history 21.6%, analyst revenue consensus 8.1%).
5-year outlook: relative outlook of about 10.6% a year (Medium confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 8.1% a year; the growth assumption used is 10.8%.
Adjust assumptions
Show the recommended model instead
Why this model: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Compare models- Recommended: Justified P/B (ROE) — GBP 0.82 (-14.9%)
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EPS-based Gordon proxy
— GBP 1.11 (+15.4%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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FCFF (steady state)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/EBITDA (12x)
— not applicable
Not used: Cannot be computed: EBITDA is missing, zero or negative.
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Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/Sales (Rule of 40)
— GBP 2.36 (+145.4%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
1 year price change: +9.24% · GBP 0.96 · Market data through 06 Nov 2026 . The fair value is today’s estimate, not what the model said in the past.
Saved price history is current through 06 Nov 2026; last refreshed 06 Nov 2026 18:33 (31 minutes ago).
06 Nov 2025Range GBP 0.84 – 1.1606 Nov 2026
Latest news
Headlines provided by EODHD. Articles may mention multiple companies and are not investment recommendations.
More detail: quality, peers, price history, dividends and financials
Quality score: 62 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 3 of 5 years | 12 / 20 |
| Growth | revenue +21.6% a year | 20 / 20 |
| Balance sheet | net debt 12.2x EBITDA | 0 / 20 |
| Margins | EBITDA margin 16% | 10 / 20 |
Peers in Financials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| LLOY.L (this company) | GBP 0.96 | -17.6% | 12.3 | 1.2 | 3.5% | 62 |
| BRK-B Berkshire Hathaway Inc. (Class B) | USD 571.97 | 99.9% | 0.0 | 0.0 | – | 92 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.66 | 68.4% | 3.7 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.86 | 45.8% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.84 | 36.1% | 6.8 | 0.7 | 6.9% | 78 |
| PRU.L Prudential plc | GBP 9.23 | 34.4% | 8.0 | 1.6 | 1.9% | 78 |
| V Visa Inc. | USD 422.59 | 33.3% | 8.9 | – | 0.2% | 100 |
| AGS.BR ageas SA/NV | EUR 77.50 | 32.6% | 8.1 | 1.5 | 5.0% | 76 |
| NWG.L NatWest Group plc | GBP 5.87 | 30.2% | 8.2 | 1.3 | 5.0% | 88 |
| Peer median | 7.6 | 1.3 | ||||
Dividends
Paid in the last 12 months: GBP 0.00 per share · yield 0.04% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.000 |
| 2025 | 0.000 |
| 2024 | 0.000 |
| 2023 | 0.000 |
| 2022 | 0.000 |
| 2021 | 0.000 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | GBP 40,957,000,000 |
|---|---|
| EBITDA | GBP 6,661,000,000 |
| EBIT | GBP 6,661,000,000 |
| Net income | GBP 4,659,000,000 |
| Free cash flow | GBP -639,000,000 |
| Capital expenditures | GBP 5,071,000,000 |
| Debt | GBP 141,605,000,000 |
| Cash | GBP 60,596,000,000 |
| Working capital | GBP -447,648,000,000 |
| Shares outstanding | 59,790,000,000 |
| Reported dividends per share | GBP 0.0335 |