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National Grid NGG

US equityMarket cap rank #221Utilities - Regulated Electric
$75.41
+$0.16 (+0.21%)
Market open · Sep 24, 1:10 pm ET
After hours $75.25 0.00%
Open$75.80
Prev close$75.25
Day range$74.80 – $75.82
Volume627.9K
Market cap$75.81B
P/E (TTM)17.5
Dividend yield4.09%

Fundamentals

Latest reported quarter: Q4, ended Mar 2008 · reported in GBP

Revenue£3.68B+56.8% YoY
Operating profit-£4.86B-23.9% YoY
Net profit£404.90M+0.9% YoY
Diluted EPS£0.78+10.1% YoY

Revenue, last 8 quarters

£2.1BJun '06£1.9BSep '06£2.3BDec '06£2.3BMar '07£2.1BJun '07£2.1BSep '07£3.6BDec '07£3.7BMar '08

Net profit, last 8 quarters

£296.8MJun '06£297.9MSep '06£400.1MDec '06£401.2MMar '07£1.2BJun '07£1.2BSep '07£398.9MDec '07£404.9MMar '08

Diluted EPS by quarter

0.48Jun '060.48Sep '060.58Dec '060.71Mar '071.30Jun '072.67Sep '070.66Dec '070.78Mar '08

Annual revenue

£13.7BFY21£18.4BFY22£21.7BFY23£19.9BFY24£18.4BFY25£17.7BFY26

Profitability & balance sheet

Gross margin79.8%
Operating margin32.2%
Net margin18.3%
Return on equity8.4%
Return on assets3.0%
Return on invested capital4.9%
Current ratio0.76
Liabilities / assets63.7%
Cash & investments£2.83B
Total debt£46.61B
Net cash (debt)-£43.78B

Where the revenue comes from

Quarter 2026/FY

By business line

  • New York£7.62B 42.7%
  • New England£4.17B 23.4%
  • United Kingdom Electricity Transmission£2.90B 16.3%
  • United Kingdom Electricity Distribution£1.94B 10.9%
  • National Grid Ventures£1.10B 6.2%
  • Other£97.00M 0.5%

By region

  • United States£12.22B 69.1%
  • United Kingdom£5.47B 30.9%

This company reports in its own local currency, not U.S. dollars. Every figure below is labeled with its real currency, not automatically converted.

Income statement

Line item 2026 ANNUAL
(GBP)
2025 ANNUAL
(GBP)
2024 ANNUAL
(GBP)
2023 ANNUAL
(GBP)
2022 ANNUAL
(GBP)
Total Revenue as Reported £17.69B £18.38B £19.85B £21.66B £18.45B
Total Operating Revenue £17.69B £18.38B £19.85B £21.66B £18.45B
Cost of Revenue £3.58B £4.15B £5.27B £8.62B £6.10B
Gross Profit £14.11B £14.23B £14.58B £13.04B £12.35B
Operating Expense £8.42B £8.78B £9.91B £8.15B £7.98B
-Depreciation & Amortization £2.25B £2.18B £2.06B £1.98B £1.83B
Other Operating Expenses £4.68B £4.47B £5.83B £5.20B £4.58B
Operating Profit £5.69B £5.45B £4.67B £4.88B £4.38B
Net Non-Operating Interest Income (Expense) -£1.27B -£1.36B -£1.48B -£1.52B -£1.08B
Non-Operating Interest Income £377.00M £439.00M £239.00M £165.00M £43.00M
Non-Operating Interest Expense £1.65B £1.81B £1.72B £1.68B £1.16B
Total Other Finance Costs -£1.00M -£9.00M -£4.00M -£30.00M
Special Income (Charges) -£259.00M -£513.00M -£191.00M -£3.00M -£5.00M
-Less:Restructuring and Mergern & Acquisition £16.00M £10.00M £12.00M £3.00M £5.00M
-Less:Write Off £243.00M £503.00M £179.00M £0.00
Pretax Profit £4.18B £3.65B £3.05B £3.59B £3.44B
Tax £939.00M £821.00M £831.00M £876.00M £1.26B
Net Profit £3.24B £2.91B £2.29B £7.80B £2.35B
Profit from Continuing Operations £3.24B £2.83B £2.22B £2.71B £2.18B
Net Income from Discontinuous Operations £0.00 £76.00M £74.00M £5.08B £171.00M
Minority Interests £2.00M £3.00M £1.00M £0.00 £1.00M
Net Income to Parent Company £3.24B £2.90B £2.29B £7.80B £2.35B
Other Preferred Stock Dividends £0.00 £0.00 £0.00 £0.00 £0.00
Net Income to Common Stockholders £3.24B £2.90B £2.29B £7.80B £2.35B
Basic EPS £3.28 £3.08 £2.87 £9.86 £3.01
Diluted EPS £3.28 £3.07 £2.86 £9.81 £2.99
Dividend Per Share £2.33 £2.76 £2.83 £2.52 £2.48
-Less:Other Special Charges £987.00M

Balance sheet

Line item 2026 ANNUAL
(GBP)
2026 Q4
(GBP)
2026 Q2
(GBP)
2025 ANNUAL
(GBP)
2025 Q4
(GBP)
Total Assets £108.28B £108.28B £103.76B £106.74B £106.74B
Total Current Assets £7.49B £7.49B £8.93B £14.33B £14.33B
Cash and Cash Equivalents & Short-Term Investments £2.83B £2.83B £4.06B £6.93B £6.93B
-Cash and Cash Equivalents £375.00M £375.00M £887.00M £1.18B £1.18B
-Short Term Investments £2.45B £2.45B £3.17B £5.75B £5.75B
-Accounts Receivable £3.09B £3.09B £2.83B £3.05B £3.05B
-Taxes Receivable £16.00M £16.00M £11.00M £11.00M £11.00M
-Other Receivables £440.00M £440.00M £702.00M £702.00M
Prepaid Assets £336.00M £336.00M £340.00M £340.00M
Inventory £559.00M £559.00M £641.00M £557.00M £557.00M
Total Non-Current Assets £100.80B £100.80B £94.83B £92.41B £92.41B
Net PPE £81.52B £81.52B £76.35B £74.09B £74.09B
-Gross PPE £101.14B £101.14B £92.46B £92.46B
-Accumulated Depreciation -£19.62B -£19.62B -£18.37B -£18.37B
-Available for Sale Securities £392.00M £392.00M £391.00M £391.00M
-Long Term Equity Investment £624.00M £624.00M £624.00M £608.00M £608.00M
Financial Assets £623.00M £623.00M £736.00M £369.00M £369.00M
Non-Current Prepaid Assets £1.07B £1.07B £660.00M £660.00M
Goodwill and Other Intangible Assets £13.30B £13.30B £13.01B £13.10B £13.10B
-Goodwill £9.42B £9.42B £9.34B £9.53B £9.53B
-Other Intangible Assets £3.88B £3.88B £3.67B £3.56B £3.56B
Defined Pension Benefit £2.51B £2.51B £2.42B £2.49B £2.49B
Total Liabilities £68.95B £68.95B £66.54B £68.92B £68.92B
Total Current Liabilities £9.80B £9.80B £9.19B £10.62B £10.62B
Payables £5.06B £5.06B £4.45B £4.66B £4.66B
-Accounts Payable £3.37B £3.37B £4.26B £2.97B £2.97B
-Total Tax Payable £140.00M £140.00M £187.00M £350.00M £350.00M
-Other Payable £1.55B £1.55B £1.34B £1.34B
Short-Term Debt and Capital Lease Obligation £3.90B £3.90B £3.62B £4.66B £4.66B
-Current Debt £3.76B £3.76B £4.54B £4.54B
-Current Capital Lease Obligation £145.00M £145.00M £120.00M £120.00M
Current Provisions £425.00M £425.00M £338.00M £357.00M £357.00M
Total Non-Current Liabilities £59.15B £59.15B £57.36B £58.30B £58.30B
Long Term Accounts Payable and Other Payables £707.00M £707.00M £467.00M £467.00M
Long Term Debt and Capital Lease Obligation £42.86B £42.86B £42.29B £42.88B £42.88B
-Long Term Debt £42.11B £42.11B £42.17B £42.17B
-Long Term Capital Lease Obligation £748.00M £748.00M £709.00M £709.00M
Derivative Product Liabilities £750.00M £750.00M £555.00M £821.00M £821.00M
Non-Current Liabilities £2.34B £2.34B £2.64B £2.69B £2.69B
Total Equity £39.33B £39.33B £37.22B £37.83B £37.83B
Stockholders' Equity £39.30B £39.30B £37.19B £37.80B £37.80B
Capital Stock £647.00M £647.00M £645.00M £638.00M £638.00M
-Common Stock £647.00M £647.00M £645.00M £638.00M £638.00M
Additional Paid-In Capital £1.30B £1.30B £1.28B £1.31B £1.31B
Retained Earnings £41.91B £41.91B £39.99B £40.11B £40.11B
Minority Interests £31.00M £31.00M £28.00M £23.00M £23.00M
Other Non-Current Assets £897.00M
Other Non-Current Liabilities £894.00M
Other Equity Interests -£4.72B

Cash flow

Line item 2026 ANNUAL
(GBP)
2025 ANNUAL
(GBP)
2024 ANNUAL
(GBP)
2023 ANNUAL
(GBP)
2022 ANNUAL
(GBP)
Operating Cash Flow £7.83B £6.81B £6.94B £6.90B £6.27B
Net Income from Continuing Operations £5.43B £4.93B £4.48B £4.88B £4.37B
Other Non-Cash Items -£31.00M £66.00M -£16.00M -£564.00M -£65.00M
Change in Working Capital £562.00M -£337.00M £724.00M £263.00M -£158.00M
-Change in Other Current Assets £720.00M £40.00M -£147.00M £286.00M -£223.00M
Net cash flow from investing -£4.16B -£10.57B -£7.50B £240.00M -£14.01B
Net PPE Purchase and Sale -£9.92B -£8.75B -£6.85B -£6.24B -£5.07B
Net Intangibles Purchase and Sale -£586.00M -£526.00M -£549.00M -£567.00M -£446.00M
Net Business Purchase and Sale £2.72B £867.00M £330.00M £7.03B -£7.71B
Net Investment Purchase and Sale £3.30B -£2.64B -£997.00M £245.00M -£868.00M
Financing Cash Flow -£4.62B £4.53B £987.00M -£7.17B £7.77B
Net Issuance Payments Of Debt -£1.01B £1.30B £4.41B -£3.86B £11.08B
Net Common Stock Issuance £39.00M £7.01B £16.00M £17.00M £30.00M
Cash Dividends Paid -£1.62B -£1.53B -£1.72B -£1.61B -£922.00M
Net Other Financing Charges £55.00M -£44.00M £28.00M -£135.00M -£1.24B
Ending Cash Balance £375.00M £1.18B £559.00M £163.00M £182.00M
Net Change in Cash -£948.00M £765.00M £427.00M -£35.00M £31.00M
Beginning Cash Balance £1.18B £559.00M £163.00M £182.00M £157.00M
Effect of Exchange Rate Changes -£8.00M -£23.00M -£1.00M £7.00M £5.00M
Free Cash Flow -£2.75B -£2.50B -£514.00M £6.00M £728.00M
Net Other Investing Changes £22.00M £245.00M -£485.00M -£125.00M
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