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National Grid plc

National Grid plc

NYSE•NGG
CEO: Mr. John Pettigrew FEI, FIET
Sector: Utilities
Industry: Regulated Electric
Listing Date: 2005-08-10
National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales. The UK Electricity Distribution segment offers electricity distribution services in Midlands, and South West of England and South Wales. The UK Electricity System Operator segment provides balancing services for supply and demand of electricity on Great Britain's electricity transmission system; and acts as an agent on behalf of transmission operators. The New England segment offers electricity and gas distribution, and electricity transmission services in New England. The New York segment provides electricity and gas distribution, and electricity transmission services in New York. The National Grid Ventures segment provides transmission services through electricity interconnectors and LNG importation at the Isle of Grain, as well as sale of renewables projects. The Other segment engages in the leasing and sale of commercial property, as well as insurance activities in the United Kingdom. The company was founded in 1990 and is headquartered in London, the United Kingdom.
Contact Information
1-3 Strand, London, WC2N 5EH, United Kingdom
44-20-7004-3000
www.nationalgrid.com
Market Cap
$76.57B
P/E (TTM)
19.6
20.3
Dividend Yield
4.1%
52W High
$78.49
52W Low
$55.82
52W Range
94%
Rank47Top 48.2%
3.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q2 2026 Data

Revenue

$9.46B-11.46%
4-Quarter Trend

EPS

$0.83-11.43%
4-Quarter Trend

FCF

-$2.17B+17.86%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Strong Underlying Profit Growth Underlying operating profit reached £5,357M, marking a 12% increase. Statutory operating profit grew 10% to £4,934M.
Capital Investment Accelerates Group capital investment surged 20% to £9.85B, supporting network expansion. Green capital investment delivered £7.67B aligned with EU Taxonomy.
Dividend Rises 3% Rebased Recommended final dividend brings total to 46.7p per share, a 3% increase (rebased). Underlying EPS grew 2% to 73.3p.

Risk Factors

Regulatory Outcome Uncertainty Risk remains in influencing future energy policies and securing satisfactory regulatory agreements across jurisdictions, impacting financial performance.
Climate Target Trajectory Miss Scope 1 and 2 GHG emissions of 7.4 ktCO2e were outside the CTP range, showing a non-linear trajectory toward net zero goals.
Cyber Security Incident Risk Operational risk remains high regarding inability to manage disruptive cyber-attacks on IT/OT systems, requiring continuous control improvements.

Outlook

£60 Billion Five-Year Plan Delivering c.£60 billion investment plan over five years to build next-generation infrastructure meeting accelerating energy demand.
Strategic Network Refocus Strategy refocuses on electricity networks, with nearly 80% of Group assets expected to be electric by 2029, streamlining portfolio.
CEO Transition Confirmed Zoë Yujnovich appointed as successor CEO, joining the Board in September 2025 to lead the next phase of growth.

Peer Comparison

Revenue (TTM)

National Grid plcNGG
$47.18B
-12.1%
Duke Energy CorporationDUK
$31.79B
+5.2%
Exelon CorporationEXC
$24.32B
+6.1%

Gross Margin (Latest Quarter)

Duke Energy CorporationDUK
98.7%
+49.3pp
Consolidated Edison, Inc.ED
79.1%
+13.0pp
Dominion Energy, Inc.D
55.5%
+2.9pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
DUK$91.32B18.39.8%5.4%
NGG$76.57B19.67.7%44.3%
AEP$61.40B16.812.8%43.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-12.8%
Growth Under Pressure
4Q Net Income CAGR
-17.3%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:May 13, 2026
|
EPS:-
|
Revenue:-
Reports
All Years

  • Form 20-F - FY 2025

    Period End: Mar 31, 2025|Filed: May 29, 2025|
    Revenue: $23.45B-7.4%
    |
    EPS: $3.88+6.5%
    Miss

  • Form 20-F - FY 2024

    Period End: Mar 31, 2024|Filed: May 23, 2024|
    Revenue: $24.95B-8.4%
    |
    EPS: $3.64-74.2%
    Beat

  • Form 20-F - FY 2023

    Period End: Mar 31, 2023|Filed: Jun 6, 2023|
    Revenue: $26.08B+17.4%
    |
    EPS: $12.82+227.7%
    Meet

  • Form 20-F - FY 2022

    Period End: Mar 31, 2022|Filed: Jun 7, 2022|
    Revenue: $25.20B+35.0%
    |
    EPS: $4.44+38.3%
    Meet

  • Form 20-F - FY 2021

    Period End: Mar 31, 2021|Filed: Jun 8, 2021|
    Revenue: $17.85B+2.3%
    |
    EPS: $3.07+30.6%
    Miss