National Grid Transco, PLC NGG
- Market cap
- $76.4B
- P/E
- 20.7×
Follow NGG
Target Price Range
Analyst price targets
Free account| 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
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| 75.29 | 59.82 | 62.98 | 69.08 | 73.55 | 80.20 | 74.48 | 73.40 | 78.49 | 94.64 |
High Price
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| 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
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|||
| 19,655 | 20,232 | 19,604 | 18,486 | 19,335 | 25,198 | 26,106 | 24,951 | 23,447 | 23,706 |
Revenue
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| 21.34% | 22.90% | 19.22% | 19.12% | 19.59% | 23.69% | 17.96% | 22.48% | 26.85% | 27.94% |
Gross Margin
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| 2,855 | 3,593 | 2,417 | 2,230 | 2,725 | 4,700 | 4,327 | 3,831 | 4,657 | 5,605 |
EBT
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| 14.53% | 17.76% | 12.33% | 12.06% | 14.09% | 18.65% | 16.58% | 15.36% | 19.86% | 23.64% |
EBT Margin
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| 4,194 | 4,634 | 3,768 | 3,534 | 3,788 | 5,970 | 5,881 | 5,625 | 6,295 | 7,279 |
Net Income
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| 1,936 | 2,030 | 2,085 | 2,085 | 2,187 | 2,499 | 2,391 | 2,591 | 3,163 | 3,012 |
Depreciation
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| 26.12 | 29.23 | 28.95 | 26.71 | 27.44 | 35.01 | 35.67 | 33.79 | 24.91 | 23.96 |
Revenue/Sh
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| 13.99 | 6.80 | 2.89 | 2.34 | 3.05 | 4.47 | 12.95 | 3.90 | 3.96 | 4.39 |
Earnings/Sh
|
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| 9.08 | 8.63 | 8.37 | 8.48 | 8.28 | 11.90 | 11.36 | 11.81 | 9.23 | 10.61 |
Cash Flow/Sh
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| (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
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| 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
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| 4.89 | 5.68 | 94.15 | 56.29 | 55.91 | 52.11 | 19.75 | 18.61 | 18.00 | 23.21 |
PE Ratio
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| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
PS Ratio
|
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| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
PB Ratio
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| 0.00 | 0.00 | 0.00 | 0.97 | 0.98 | 1.29 | 0.97 | 1.06 | 1.01 | 1.15 |
EV/Sales
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| 3.47 | 7.47 | 14.57 | 34.71 | (112.34) | 37.28 | 26.82 | (37.16) | (8.98) | (6.22) |
EV/FCF
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| 6,836 | 5,974 | 5,669 | 5,871 | 5,836 | 8,566 | 8,314 | 8,722 | 8,686 | 10,493 |
Op' Cash Flow
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| (4,577) | (5,175) | (5,124) | (6,143) | (6,254) | (7,536) | (8,202) | (9,303) | (11,839) | (14,083) |
Capex
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| 2,259 | 799 | 545 | (272) | (417) | 1,030 | 112 | (581) | (3,154) | (3,589) |
FCF
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| 4,004 | (2,675) | (1,553) | (3,513) | 746 | (9,297) | 43 | (1,270) | 4,735 | (3,099) |
Working Cap'
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| 37,438 | 35,323 | 37,717 | 39,151 | 40,845 | 62,096 | 51,810 | 59,170 | 60,650 | 62,666 |
Total Debt
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| 24,271 | 30,775 | 34,643 | 36,400 | 36,978 | 57,137 | 48,289 | 53,762 | 51,664 | 58,587 |
Net Debt
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| 26,648 | 25,006 | 25,428 | 24,899 | 25,983 | 32,583 | 35,631 | 37,574 | 48,258 | 52,714 |
Sh' Equity
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| 11.71% | 5.74% | 2.47% | 1.91% | 2.48% | 2.96% | 7.79% | 2.45% | 2.85% | 3.09% |
ROA
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| 5.15% | 5.19% | 3.92% | 3.60% | 3.76% | 4.16% | 4.38% | 3.85% | 3.94% | 4.09% |
ROIC
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| 43.45% | 18.24% | 7.87% | 6.39% | 8.43% | 10.97% | 27.55% | 7.86% | 8.63% | 8.60% |
ROE
|
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National Grid Transco, PLC peers in Utilities Regulated Electric
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| DUK Duke Energy Corporation | $88.1B | 17.0× | Compare |
| AEP American Electric Power Company, Inc. | $64.1B | 20.3× | Compare |
| SO Southern Company (The) | $95.3B | 19.9× | Compare |
| D Dominion Energy Inc. | $53.1B | 21.1× | Compare |
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| ETR Entergy Corporation | $46.9B | 24.9× | Compare |
| XEL Xcel Energy Inc. | $43.4B | 19.0× | Compare |
| EXC Exelon Corporation | $41.4B | 14.8× | Compare |
| ED Consolidated Edison Inc | $37.9B | 16.9× | Compare |
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.
National Grid Transco, PLC (NGG) Latest News
3 Sep
National Grid partners with Method Grid to digitize capital project delivery. Digitization partnership may enhance operational efficiency in core infrastructure projects.
2 Sep
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
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
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
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
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
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
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
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
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.
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
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
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.
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
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
National Grid Transco, PLC (NGG) receives analyst rating upgrade to Buy. Buy rating upgrade may lift near-term investor sentiment toward NGG.
8 Jun
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
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
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
Reform UK threatens legal challenges to National Grid projects. Legal threats may delay infrastructure projects and affect operational timelines.
17 May
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
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
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.
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
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
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
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
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.
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
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.