A Business at a Glance
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| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 24.3B | 24.3B | 25.4B | 27.0B | 22.7B | 18.8B |
| Net Income | 3.8B | 3.8B | 2.9B | 9.7B | 2.9B | 2.3B |
| EPS | $0.81 | $0.81 | $0.73 | $2.45 | $0.74 | $0.51 |
| Free Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 |
| ROIC | 10.5% | 4.7% | 4.3% | 4.8% | 5.3% | 5.1% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 1.26 | 1.58 | 1.83 | 1.94 | 1.91 |
| Dividends/Share | $0.43 | $0.73 | $0.73 | $0.51 | $0.29 | $0.44 |
| Operating Income | 6.5B | 6.5B | 5.7B | 6.1B | 5.4B | 3.3B |
| Operating Margin | 26.8% | 26.8% | 22.5% | 22.5% | 23.7% | 17.6% |
| ROE | 7.7% | 8.7% | 7.8% | 29.4% | 10.2% | 8.5% |
| Shares Outstanding | 4,711M | 4,711M | 3,990M | 3,956M | 3,884M | 4,435M |
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 17.2B | 18.8B | 22.7B | 27.0B | 25.4B | 24.3B | 24.3B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 2.9B | 3.3B | 5.4B | 6.1B | 5.7B | 6.5B | 6.5B |
| Op. Margin | 17.1% | 17.6% | 23.7% | 22.5% | 22.5% | 26.8% | 26.8% |
| Net Income | 1.6B | 2.3B | 2.9B | 9.7B | 2.9B | 3.8B | 3.8B |
| Net Margin | 9.5% | 12.0% | 12.8% | 36.0% | 11.5% | 15.8% | 15.8% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | 9.3% | 5.1% | 5.3% | 4.8% | 4.3% | 4.7% | 10.5% |
| ROE | 6.4% | 8.5% | 10.2% | 29.4% | 7.8% | 8.7% | 7.7% |
| ROA | N/A | 2.4% | 2.8% | 8.4% | 2.4% | 2.9% | 2.7% |
| Cash Flow | |||||||
| Op. Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Owner Earnings | -1.9B | -2.1B | -2.3B | -2.5B | -2.7B | -2.9B | -2.9B |
| CapEx | 5.5B | 5.8B | 6.3B | 7.9B | 8.8B | 11.6B | 11.6B |
| Maint. CapEx | 1.8B | 2.0B | 2.3B | 2.5B | 2.6B | 2.9B | 2.9B |
| Growth CapEx | 3.7B | 3.7B | 4.0B | 5.4B | 6.2B | 8.7B | 8.7B |
| D&A | 1.8B | 2.0B | 2.3B | 2.5B | 2.6B | 2.9B | 2.9B |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 1.1B | 1.9B | 1.1B | 2.0B | 2.2B | 2.0B | 2.0B |
| Dividend Yield | 2.3% | 3.5% | 2.2% | 3.9% | 4.3% | 3.1% | 3.3% |
| Share Buybacks | 7.7M | 2.7M | 16M | 1.2M | 5.1M | 9.2M | 9.2M |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Stock-Based Comp | 21M | 32M | 47M | 60M | 47M | 49M | 49M |
| Debt Repayment | 3.9B | 2.3B | 1.6B | 19.0B | 2.2B | 3.8B | 3.8B |
| Balance Sheet | |||||||
| Net Debt | N/A | 52.0B | 56.7B | 67.2B | 59.5B | 61.2B | -1.6B |
| Cash & Equiv. | N/A | 216M | 251M | 203M | 715M | 1.6B | 1.6B |
| Long-Term Debt | N/A | N/A | N/A | N/A | 54.0B | 56.6B | 56.6B |
| Debt/Equity | N/A | 1.91 | 1.94 | 1.83 | 1.58 | 1.26 | 0.00 |
| Interest Coverage | 2.2 | 2.8 | 4.1 | 3.1 | 2.6 | 2.7 | 2.7 |
| Equity | 25.5B | 27.3B | 29.4B | 36.9B | 38.2B | 49.9B | 49.9B |
| Total Assets | 0 | 92.4B | 116.9B | 115.7B | 125.8B | 140.9B | 140.9B |
| Total Liabilities | 0 | 65.1B | 87.5B | 78.8B | 87.5B | 91.0B | 91.0B |
| Intangibles | 0 | 0 | 0 | 0 | 4.4B | 4.7B | 4.7B |
| Retained Earnings | 0 | 31.8B | 32.8B | 39.5B | 41.0B | 52.9B | 52.9B |
| Working Capital | N/A | 784M | -8.4B | -21M | -1.3B | 4.9B | 4.9B |
| Current Assets | 0 | 13.7B | 22.1B | 11.4B | 13.3B | 18.9B | 18.9B |
| Current Liabilities | 0 | 12.9B | 30.5B | 11.4B | 14.6B | 14.0B | 14.0B |
| Per Share Data | |||||||
| EPS | 0.38 | 0.51 | 0.74 | 2.45 | 0.73 | 0.81 | 0.81 |
| Owner EPS | -0.44 | -0.47 | -0.59 | -0.64 | -0.67 | -0.62 | -0.62 |
| Book Value | 5.99 | 6.16 | 7.57 | 9.33 | 9.58 | 10.59 | 10.59 |
| Cash Flow/Share | 0.82 | 0.97 | 1.33 | 3.09 | 1.40 | 1.42 | 1.42 |
| Dividends/Share | 0.27 | 0.44 | 0.29 | 0.51 | 0.73 | 0.73 | 0.43 |
| Shares Out. | 4.3B | 4.4B | 3.9B | 4.0B | 4.0B | 4.7B | 4.7B |
| Valuation | |||||||
| P/E Ratio | 31.0 | 28.7 | 16.2 | 5.5 | 16.2 | 18.9 | 16.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | 35.2 | 19.2 | 19.8 | 18.7 | 20.5 | 9.2 |
| Price/Book | 2.0 | 2.4 | 1.6 | 1.4 | 1.2 | 1.4 | 1.2 |
| Price/Sales | 2.9 | 3.4 | 2.1 | 2.0 | 1.9 | 3.0 | 2.5 |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Cap | 50.4B | 64.3B | 46.8B | 53.3B | 47.3B | 72.2B | 61.7B |
| Avg. Price | 11.85 | 12.59 | 13.38 | 12.98 | 12.79 | 13.91 | 13.09 |
| Year-End Price | 11.83 | 14.49 | 12.05 | 13.48 | 11.86 | 15.32 | 13.09 |
NATIONAL GRID PLC passes 5 of 9 quality checks, suggesting mixed fundamentals.
NATIONAL GRID PLC trades at 16.2x trailing earnings, compared to its 15-year median P/E of 17.6x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 4.8%. Total shareholder yield (dividends) is 3.3%. At current prices, the estimated annualized return to fair value is +25.4%.
NATIONAL GRID PLC (NG-L) has a current P/E ratio of 16.2, compared to its historical median P/E of 17.6. The stock is currently considered Fair based on its historical valuation range.
NATIONAL GRID PLC (NG-L) has a 5-year average return on invested capital (ROIC) of 4.8%. This is below average and may indicate limited pricing power.
NATIONAL GRID PLC (NG-L) has a market capitalization of $61.7B. It is classified as a large-cap stock.
Yes, NATIONAL GRID PLC (NG-L) pays a dividend with a trailing twelve-month yield of 3.27%. The company also returns capital through share buybacks, with a buyback yield of 0.01%.
Based on historical P/E analysis, NATIONAL GRID PLC (NG-L) appears fair. The current P/E of 16.2 is 8% below its historical median of 17.6. The estimated fair value CAGR (P/E method) is 25.4%.
NATIONAL GRID PLC (NG-L) reported annual revenue of $24.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
NATIONAL GRID PLC (NG-L) has a net profit margin of 15.8%. This is a healthy margin.
NATIONAL GRID PLC (NG-L) has a debt-to-equity ratio of 1.26. This indicates moderate leverage.
NATIONAL GRID PLC (NG-L) reported earnings per share (EPS) of $0.81 in its most recent fiscal year.
NATIONAL GRID PLC (NG-L) has a return on equity (ROE) of 8.7%. This indicates moderate shareholder returns.
The Ledger Terminal provides 6 years of financial data for NATIONAL GRID PLC (NG-L), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NATIONAL GRID PLC (NG-L) has a book value per share of $10.59, based on its most recent annual SEC filing.