National Grid Transco, PLC NGG

75.49 0.26 0.35% as of 25 Sep
Market cap
$76.4B
P/E
20.7×

Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios

Market Cap 76,370.00
Revenue 50,952.81
Net Income 17,333.35
Free Cash Flow (8,148.43)
Net Debt 58,587.19
Current Ratio 0.76
Debt/Equity 1.19
P/E ratio 20.71
P/S ratio 0.00
P/B ratio 0.00
Past 5Y EPS Growth 13.19%
This Y EPS Growth 14.30%
Next Y EPS Growth 8.71%
Next 5Y EPS Growth 11.23%
in millions of $

Dividends

Payout Ratio 0.68
Annual Dividend Rate 3.38
Annual Dividend Yield 5.63%
total individual payouts
2029 Powerpack
2028 Powerpack
2027 Powerpack
2026 0.13
2.17
2025 0.12
2.05
1.07
2024 3.51
2.49
1.02
2023 3.54
2.35
1.19
2022 3.12
2.09
1.03
2021 3.44
2.28
1.16
2020 3.14
2.01
1.13
2019 3.09
2.03
1.07
2018 3.12
2.06
1.06
2017 8.82
5.92
5.92
1.89
1.02
2016 3.26
2.23
1.03
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 2026
Cash 3,521 5,408 8,987 4,079
Receivables 4,732 4,306 5,235 5,204
Inventory 1,056 1,041 711 749
Other 1,739 2,292 3,353 —
11,048 13,046 18,285 10,032
2023 2024 2025 2026
Payables 6,108 5,124 5,705 6,767
ST’ Debt 3,562 6,108 5,948 5,227
Other 1,334 3,085 1,897 1,137
11,004 14,316 13,550 13,131
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 0.49% 4.16% (3.16%)
Cash Flow 2.73% 12.45% 8.07%
Earnings 1.16% 15.15% (22.68%)
Book Value 10.04% 15.20% 13.95%

Revenue

Mar Jun Sep Dec Year
’26 — — — — —
’26 — — — — 23,706
’25 — — — — 23,447
’24 — — — — 24,951
’23 — — — — 26,106
’22 — — — — 25,198
’21 — — — — 19,335
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 — — — — —
’26 10,493 — 4,887 — 10,493
’25 8,686 — 3,397 — 8,686
’24 8,722 — 3,622 — 8,722
’23 8,314 — 2,977 — 8,314
’22 8,566 — 3,333 — 8,566
’21 5,836 — 2,317 — 5,836
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 — — — — —
’26 (2,804) — (1,440) — (3,589)
’25 (2,483) — (2,089) — (3,154)
’24 109 — (760) — (581)
’23 795 — (1,049) — 112
’22 1,639 — (119) — 1,030
’21 140 — (670) — (417)
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 — — — — —
’26 — — — — 4.37
’25 — — — — 3.94
’24 — — — — 3.88
’23 — — — — 12.88
’22 — — — — 4.45
’21 — — — — 3.03
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

2.2
1Buy 2 3Hold 4 5Sell
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
57.65 46.36 47.96 44.29 55.89 47.22 56.41 55.13 55.82 74.56

Analyst estimates 2027–2029

Powerpack
Low Price
75.29 59.82 62.98 69.08 73.55 80.20 74.48 73.40 78.49 94.64
High Price
22,132 23,023 22,576 23,069 23,683 30,756 31,275 31,425 31,645 33,017
Employees
1 1 1 1 1 1 1 1 1 1
Revenue/Emp
19,655 20,232 19,604 18,486 19,335 25,198 26,106 24,951 23,447 23,706
Revenue
21.34% 22.90% 19.22% 19.12% 19.59% 23.69% 17.96% 22.48% 26.85% 27.94%
Gross Margin
2,855 3,593 2,417 2,230 2,725 4,700 4,327 3,831 4,657 5,605
EBT
14.53% 17.76% 12.33% 12.06% 14.09% 18.65% 16.58% 15.36% 19.86% 23.64%
EBT Margin
4,194 4,634 3,768 3,534 3,788 5,970 5,881 5,625 6,295 7,279
Net Income
1,936 2,030 2,085 2,085 2,187 2,499 2,391 2,591 3,163 3,012
Depreciation
26.12 29.23 28.95 26.71 27.44 35.01 35.67 33.79 24.91 23.96
Revenue/Sh
13.99 6.80 2.89 2.34 3.05 4.47 12.95 3.90 3.96 4.39
Earnings/Sh
9.08 8.63 8.37 8.48 8.28 11.90 11.36 11.81 9.23 10.61
Cash Flow/Sh
(6.08) (7.48) (7.57) (8.88) (8.88) (10.47) (11.21) (12.60) (12.58) (14.24)
Capex/Sh
3.00 1.15 0.80 (0.39) (0.59) 1.43 0.15 (0.79) (3.35) (3.63)
Free CF/Sh
35.41 36.12 37.55 35.97 36.88 45.27 48.69 50.89 51.26 53.29
Book Value/Sh
753 692 677 692 705 720 732 738 941 989
Shares
4.89 5.68 94.15 56.29 55.91 52.11 19.75 18.61 18.00 23.21
PE Ratio
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
PS Ratio
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
PB Ratio
0.00 0.00 0.00 0.97 0.98 1.29 0.97 1.06 1.01 1.15
EV/Sales
3.47 7.47 14.57 34.71 (112.34) 37.28 26.82 (37.16) (8.98) (6.22)
EV/FCF
6,836 5,974 5,669 5,871 5,836 8,566 8,314 8,722 8,686 10,493
Op' Cash Flow
(4,577) (5,175) (5,124) (6,143) (6,254) (7,536) (8,202) (9,303) (11,839) (14,083)
Capex
2,259 799 545 (272) (417) 1,030 112 (581) (3,154) (3,589)
FCF
4,004 (2,675) (1,553) (3,513) 746 (9,297) 43 (1,270) 4,735 (3,099)
Working Cap'
37,438 35,323 37,717 39,151 40,845 62,096 51,810 59,170 60,650 62,666
Total Debt
24,271 30,775 34,643 36,400 36,978 57,137 48,289 53,762 51,664 58,587
Net Debt
26,648 25,006 25,428 24,899 25,983 32,583 35,631 37,574 48,258 52,714
Sh' Equity
11.71% 5.74% 2.47% 1.91% 2.48% 2.96% 7.79% 2.45% 2.85% 3.09%
ROA
5.15% 5.19% 3.92% 3.60% 3.76% 4.16% 4.38% 3.85% 3.94% 4.09%
ROIC
43.45% 18.24% 7.87% 6.39% 8.43% 10.97% 27.55% 7.86% 8.63% 8.60%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Mar 2026

National Grid Transco, PLC peers in Utilities Regulated Electric

All 40 Utilities Regulated Electric stocks →

National Grid Transco, PLC (NGG) key facts

  • National Grid Transco, PLC (NGG) is an Utilities Regulated Electric company in the Utilities sector, traded in the US as an ADR.
  • National Grid Transco, PLC’s revenue for fiscal 2026 (year ended March 2026) was GBP 23.7 billion, up 1.11% from fiscal 2025.
  • Net income was GBP 7.3 billion, or GBP 4.39 per share (basic), a net margin of 18.3%.
  • As of September 25, 2026, NGG traded at $75.49, a market capitalization of $76.4 billion.
  • At that price the stock trades at 20.7× trailing-twelve-month earnings.
  • National Grid Transco, PLC pays an annual dividend of $3.38 per share, a yield of 5.63%, with a payout ratio of 68.2%.
  • Return on equity was 8.60% and debt-to-equity 1.19.

Source: company filings (standardised) and stockrow calculations.

National Grid Transco, PLC (NGG) Latest News

News by impact score

Fine-tune

3 Sep

3

National Grid partners with Method Grid to digitize capital project delivery. Digitization partnership may enhance operational efficiency in core infrastructure projects.

2 Sep

4

Study shows transmission expansion could deliver billions in savings, especially in PJM region, with direct relevance to National Grid Transco operations. PJM transmission expansion promises billions in savings aligned with National Grid core business.

1 Sep

4

A study finds transmission upgrades can save electricity customers up to $15.3 billion, support US economic growth, and strengthen national security. Transmission benefits highlighted in study likely to encourage regulatory approvals and capital spending for grid operators.

27 Aug

3

GE Vernova wins contract to deliver 400 kV substation for UK grid upgrade project. Contract win advances substation work on National Grid's UK network.

23 Jul

3

National Grid asserts growth and customer protection must go hand in hand. Focus on balancing growth with customer protection may moderately affect regulatory compliance and market positioning.

17 Jul

3

Ten Massachusetts communities adopted fossil fuel-free policies, after which utilities including National Grid invested $100 million in gas line infrastructure. Continued gas spending amid local clean energy shifts signals regulatory and operational pressure on National Grid without immediate trajectory change.

16 Jul

4

National Grid plc commits $1.75B to Joulent investment to meet rising US power demand. $1.75B strategic spend targets major US electricity growth opportunity.

14 Jul

4

National Grid Transco AGM approved £70B investment plan facing scrutiny over climate targets and surging data center power demand. £70B capex plan plus climate and data-center scrutiny will drive major capex execution risk and regulatory outcomes that reshape long-term growth trajectory.

7 Jul

3

Massachusetts utilities signed contracts for 4.5 GWh of energy storage. Energy storage contracts can moderately affect National Grid operations and positioning in Massachusetts.

3 Jul

4

National Grid Transco is investing $1.75 billion in U.S. data center power infrastructure. $1.75 billion data center investment targets high-growth power demand and supports major revenue expansion.

3

National Grid invested $1.75 billion, resulting in assessment that its stock appears fairly valued. $1.75b investment represents notable capital outlay with moderate effect on financials and valuation.

2 Jul

4

National Grid Transco, PLC commits nearly $2 billion to U.S. energy infrastructure projects while its stock trades at low valuations. Nearly $2 billion U.S. investment marks a major capital commitment likely to drive growth and shift investor sentiment.

1 Jul

4

National Grid Ventures will invest $1.75bn to accelerate power solutions for U.S. data centers and AI. Major investment in expanding power infrastructure for booming AI and data center sectors signals strong growth potential for National Grid.

4

National Grid commits $1.75 billion to Joulent, enabling expansion of the latter as a technology-driven energy company focused on American innovation. National Grid's $1.75 billion strategic investment marks a major capital deployment into energy technology innovation.

23 Jun

3

New York completes 100-mile Smart Path Connect project. Completion of major transmission project supports National Grid operations in New York with moderate long-term infrastructure benefits.

12 Jun

3

National Grid Transco, PLC (NGG) receives analyst rating upgrade to Buy. Buy rating upgrade may lift near-term investor sentiment toward NGG.

8 Jun

4

National Grid submits tactical proposals as part of its 5-year multi-billion investment plan. Multi-billion 5-year investment plan with tactical proposals signals major strategic moves likely to alter company trajectory and investor sentiment.

4 Jun

4

National Grid Transco challenges FERC rules, raising questions over future returns. FERC rule challenges represent major regulatory shifts that can significantly alter National Grid's returns and trajectory.

21 May

3

National Grid's profits show quality issues that may undermine their sustainability and raise questions about underlying financial performance. Profit quality concerns can pressure investor sentiment and valuation without altering core operations.

19 May

3

Reform UK threatens legal challenges to National Grid projects. Legal threats may delay infrastructure projects and affect operational timelines.

17 May

3

Batteries can offset a potential £300 rise in UK energy bills by stabilizing the grid and reducing peak demand costs for National Grid Transco. Battery storage initiatives may moderately support National Grid Transco grid operations and cost management without fundamentally shifting long-term performance.

15 May

4

National Grid Transco's H2 earnings call highlighted key financial results, operational updates, and future outlook for the utility company. H2 earnings call highlights disclose financial performance and guidance that significantly shape investor sentiment and stock trajectory.

14 May

4

National Grid warns that grid constraints causing wasted wind power could cost Britain £12 billion, as insufficient infrastructure prevents full use of renewable energy generation. National Grid's alert on £12bn wasted wind costs signals major grid upgrade needs, driving significant capex, regulatory scrutiny, and revenue opportunities.

4

National Grid warns wasted wind energy could cost Britain £12bn due to grid constraints limiting renewable power integration during high wind periods. Grid capacity issues expose National Grid to major upgrade costs and regulatory pressures, significantly impacting financials and investor sentiment.

11 May

4

The Euro’s next move will make or break FIDI’s 2026 returns, posing critical risks to National Grid Transco, PLC (NGG) performance due to currency impacts on its transatlantic operations. Euro fluctuations threaten to significantly alter NGG's 2026 financial trajectory and investor sentiment.

6 May

4

Air Space Intelligence partners with National Grid Transco, PLC (NGG) to deploy operational AI across the electric grid, enhancing grid management and efficiency. AI deployment to grid operations marks a significant strategic technology adoption boosting efficiency and competitive edge.

5 May

3

National Grid (NGG) upgraded to Buy rating by analysts citing strong fundamentals, growth prospects, and attractive valuation. Analyst upgrade to Buy highlights improved market sentiment and potential financial upside for NGG without transformative changes.

10 Apr

4

National Grid (LSE:NG.) unveils new targets and launches GridCARE partnership, marking a strategic shift in its operational and growth narrative. New targets and GridCARE partnership signal major strategic advancements poised to reshape National Grid's competitive positioning and investor outlook.

4

National Grid (NGG) partners with GridCARE to accelerate interconnections for large-load customers including data centers and EV charging hubs, streamlining the process to meet growing demand. Partnership enables faster large-load connections, strengthening NGG's position in high-growth sectors like data centers amid surging electricity demand.

8 Apr

3

National Grid (NGG) price target raised by £200, 'Overweight' rating maintained. Price target hike by £200 reinforces positive analyst view, likely influencing investor sentiment and short-term stock performance.

stockrow.com/NGG · Data as of Mar 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com