Lloyds Banking Group plc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Lloyds Banking Group plc files with the SEC in its annual reports.

In GBP millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	39,611	34,237	22,091	42,356	29,167	38,950	-5,346	18,629	18,003	19,422
General and administrative	10,253	10,181
Pre-tax income	3,888	5,625	5,960	4,393	1,226	6,902	4,782	7,503	5,971	6,661
Income tax	1,724	1,626	1,454	1,387	-161	1,017	859	1,985	1,494	1,904
Income from continuing operations	58	32
Net income to minority interests	101	90	98	81	69	101	96	58	56	98
Net income	2,063	3,909	4,408	2,925	1,318	5,784	3,827	5,460	4,421	4,659
EPS, basic	0.02	0.05	0.06	0.04	0.01	0.08	0.05	0.08	0.06	0.07
EPS, diluted	0.02	0.05	0.06	0.03	0.01	0.08	0.05	0.08	0.06	0.07

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	62,388	58,708	55,224	59,507	78,145	79,194	95,829	88,838	70,816	60,593
Property, plant and equipment	12,972	12,727	12,300	13,104	11,754	11,577	10,660
Lease right-of-use assets				1,669	1,500	1,318	1,156	1,055	872	759
Goodwill	2,016	2,310	2,310	2,324	2,320	2,320	2,655
Intangible assets	1,681	2,835	3,347	3,808	4,140	4,196	4,786
Total assets	817,793	811,182	797,598	833,893	871,269	881,257	873,394	881,453	906,697	944,072
Total liabilities	769,328	763,230	747,399	786,087	821,856	830,040	829,483	834,088	860,809	896,205
Paid-in capital	17,622	17,634	17,719	17,751	17,863	18,479	18,504	18,568	18,720	18,797
Retained earnings	3,250	4,905	5,389	3,246	4,584	8,318	6,550	6,790	5,912	6,291
Shareholders' equity	48,025	48,906	49,925	47,603	49,184	50,982	43,667	47,164	45,716	47,668
Minority interests	440	237	274	203	229	235	244	201	172	199
Total equity	48,465	47,952	50,199	47,806	49,413	51,217	43,911	47,365	45,888	47,867
Total liabilities and equity	817,793	811,182	797,598	833,893	871,269	881,257	873,394	881,453	906,697	944,072

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	2,164	3,999	4,506	3,006	1,387	5,885	3,923	5,518	4,477	4,757
Depreciation and amortization	2,380	2,370	2,405	2,660	2,732	2,825	2,396	2,905	3,426	3,477
Cash from operations	2,074	-3,195	-11,107	11,281	28,153	6,758	22,011	6,810	-4,393	5,701
Capital expenditures	-3,760	-3,655	-3,514	-3,442	-2,901	-3,228	-2,432	-3,961	-4,364	-5,071
Cash from investing	-686	6,808	11,921	-2,130	-4,000	-2,545	510	-9,821	-7,691	-10,189
Dividends paid	-2,043	-2,335	-2,301	-2,450	-41	-970	-1,567	-1,752	-1,911	-2,051
Cash from financing	-10,974	-5,019	-4,301	-6,559	-5,319	-3,234	-6,613	-3,500	-5,931	-5,357
Exchange rate effect	21		3	-5	-196	70	727	-480	-7	-378
Net change in cash	-9,565	-1,406	-3,484	2,587	18,638	1,049	16,635	-6,991	-18,022	-10,223
Free cash flow	-1,686	-6,850	-14,621	7,839	25,252	3,530	19,579	2,849	-8,757	630
Income taxes paid	-822	-1,028	1,030	1,278	736	796	743	1,437

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	34.3%	Pre-tax income / revenue.
Net margin	24.0%	Net income / revenue.
FCF margin	3.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	29.4%	Cash from operations / revenue.
Effective tax rate	28.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.5%	Net income / average total assets.
Capex / revenue	26.1%	Capital expenditures / revenue.
D&A / revenue	17.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 5y	-7.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	5.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	6.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	28.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	11.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	12.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	41.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	-36.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-27.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	-68.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-52.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	4.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	3.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-0.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	4.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	1.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	94.9%	Total liabilities / total assets.
Tangible book value	£47.67B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.02x	Revenue / average total assets.
FCF conversion	13.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	88.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	£0.07	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	£0.07	Net income per basic share, as reported (split-adjusted).
Payout ratio	44.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	325.6%	Dividends paid / free cash flow, when free cash flow is positive.

What was Lloyds Banking Group plc's revenue in fiscal 2025?

Lloyds Banking Group plc reported revenue of £19.42B for fiscal 2025, 7.9% higher than the year before.

Was Lloyds Banking Group plc profitable in fiscal 2025?

Yes. Net income was £4.66B, a net margin of 24%.

How much free cash flow did Lloyds Banking Group plc generate in fiscal 2025?

Cash from operations of £5.70B minus capital expenditures of £5.07B left free cash flow of £630.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to Lloyds Banking Group plc