BARC · LSE · Banking
Barclays PLC is one of the United Kingdom’s largest banking groups, with operations across retail banking, business banking, corporate banking, investment banking, wealth management, private banking, credit cards, and…
Current price
436.05p
▼ −1.55p (0.35%) today
ET&A View
Last reviewed 14 September 2026
ET&A sees significant upside from the current price with an attractive risk/reward profile.
Barclays is increasingly demonstrating that its diversified UK banking, investment banking and U.S.
Business Health
Is the business financially healthy?
Mostly healthy
No area stands out as especially strong or weak.
Overall
Revenue
£28.1bn · ↑ +11% last year
Earnings
£6.8bn · ↑ +14% last year
Profitability
Earns 10% a year on shareholders' money
Capital strength
Its cushion against losses
Dividend
2.6% yield · Pays out 18% of earnings · covered 5.6×
Investor View
Open a section for the detail behind the quick view.
Barclays is increasingly demonstrating that its diversified UK banking, investment banking and U.S. consumer franchises can generate sustainable mid-teens returns while trading at a valuation that still implies…
The complete ET&A view
See our full reasoning, what could drive the shares higher or go wrong, our Fair Value and Preferred Entry, and how our view has changed.
Reported annual results, newest first · Market data. “Growth” is the change in sales on the year before.
| Year | Revenue | Growth | Operating margin | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|---|
| FY2025 | £29.1bn | +11.1% | — | £7.2bn | £0.42 | £16.9bn |
| FY2024 | £26.2bn | +3.3% | — | £6.3bn | £0.35 | £5.5bn |
| FY2023 | £25.4bn | +1.5% | — | £5.3bn | £0.27 | −£2.6bn |
| FY2022 | £25.0bn | — | — | £5.9bn | £0.30 | £28.5bn |
Investors who want regular income
Also suits: Investors who want a mix of growth and stability
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
Compare Barclays PLC with any company → The model’s own peer calculations are in the Research View.
Barclays PLC is one of the United Kingdom’s largest banking groups, with operations across retail banking, business banking, corporate banking, investment banking, wealth management, private banking, credit cards, and payments. The company serves individuals, small businesses, large corporates, institutions, and governments, combining a major UK banking franchise with a sizeable international investment banking and consumer finance presence.
Barclays’ strength comes from the breadth of its model. Its UK banking operations provide exposure to everyday financial services such as current accounts, mortgages, savings, lending, and cards, while its corporate and investment banking businesses connect the company to global capital markets, advisory, trading, and financing activity. This gives Barclays a diversified position across consumer banking, corporate finance, wealth, payments, and institutional markets, making it one of the most important financial institutions in the UK and a significant player in global banking.
Banking · United Kingdom
For detailed analysis. Each section opens on its own.
As of 13 October 2026
Standard ways of comparing the share price with the company’s earnings, sales and cash. Tap the “i” for what each one means.
| Measure | Today | Source |
|---|---|---|
| P/E | Members | |
| Forward P/E | Members | |
| EV/EBITDA | Members | |
| Price/Sales | Members | |
| FCF Yield | Members |
Valuation ratios are part of ET&A membership.
Other published measures
Use the 5Y and Max ranges on the price chart at the top of the page.
Forecasts are market consensus or calculated from forward EPS — not ET&A estimates, and they can be wrong.
Powered by the ET&A Valuation FrameworkHow Fair Value & Preferred Entry work →
Read the full ET&A methodology →The ET&A View combines our assessment of the business with where today’s price sits against our Preferred Entry and Fair Value. It is a considered judgement, not a mechanical score.
ET&A Score: ET&A's overall assessment of business quality, valuation, growth and risk, out of 10. It weighs business quality, financial strength, growth, valuation, risk, future prospects.
Powered by the ET&A Company Assessment FrameworkSee the full framework →
The automatic, rules-based scores that feed our research. The ET&A Score blends these with our own analysis of the business and its value. How the framework works →
Thin margins · Soft
Context — not part of the score
Valuation and share-price swings describe the shares, not the company, so they are judged in the ET&A Score and View instead.
Based on the factors that could be measured (30% of the model).
Each area is scored from 0 to 10 on ET&A’s methodology scales — the same ones our research uses — then given a word: Excellent from 8.5, Strong from 7, Good from 5.5, Average from 4.5, Below Average from 3, Weak below 3. The overall answer is the average of the areas we could rate (at least three); the dividend isn’t part of it.
| Area | Based on | Score | Rating |
|---|---|---|---|
| Revenue |
Rated on 3-year average revenue growth, on ET&A's growth scale. | 5.6 / 10 | Good |
| Earnings |
Rated on 3-year average earnings growth, on ET&A's growth scale. | 6.0 / 10 | Good |
| Profitability |
For banks and insurers ET&A judges profitability on return on equity (and cost ÷ income where known), not sales margins. | 6.0 / 10 | Good |
| Capital strength | Needs equity and total assets to rate. For banks ET&A measures capital as equity ÷ assets, on its bank capital scale. | — | Not rated |
| Dividend |
Dividend yield on ET&A's income scale. Not part of the overall health rating. | 5.6 / 10 | Good |
| Overall | Average of the 3 rated areas | 5.9 / 10 | Good |
Where each band starts on the scales above. They are fixed and identical for every company we cover; they come straight from ET&A’s methodology, so a company is judged the same way here as in our research.
| Measure | Excellent | Strong | Good | Average | Below Average | Weak |
|---|---|---|---|---|---|---|
| GrowthStructural Growth (Fundamental Conviction) | 18%+ | 10%+ | 5.0%+ | 1.7%+ | −2.5%+ | below −2.5% |
| Operating marginCompetitive Position (Fundamental Conviction) | 29%+ | 20%+ | 13%+ | 7.5%+ | 0%+ | below 0% (loss) |
| Net marginEarnings Durability (Fundamental Conviction) | 23%+ | 15%+ | 9.8%+ | 6.0%+ | 0%+ | below 0% (loss) |
| Free-cash-flow marginCapital Allocation (Fundamental Conviction) | 15%+ | 8.5%+ | 3.8%+ | 1.3%+ | −2.5%+ | below −2.5% |
| Net debt ÷ EBITDAStructural Risk (Fundamental Conviction) | net cash | ≤ 1.5× | ≤ 2.8× | ≤ 3.6× | ≤ 5.0× | above 5.0× |
| Return on equity (banks & insurers)Bank and insurer quality | 16%+ | 12%+ | 9.0%+ | 6.7%+ | 2.7%+ | below 2.7% |
| Equity ÷ assetsBank capital | 7.5%+ | 6.0%+ | 4.7%+ | 4.0%+ | any | — |
| Dividend yieldIncome factor (ET&A Quant Score) | 5.8%+ | 4.0%+ | 2.5%+ | 1.8%+ | 1.0%+ | below 1.0% |
Band floors: Excellent 8.5 · Strong 7 · Good 5.5 · Average 4.5 · Below Average 3 (scores out of 10). Utilities and property companies’ structural debt is scored 6.5, as in ET&A’s risk model.
No research notes have been published for Barclays PLC yet.
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