Pricing Log in Create free account
Friday 6 November 2026 Export NGG’s income statement to Excel — free account

National Grid Transco, PLC

NGG Utilities Utilities Regulated Electric

National Grid Transco, PLC’s revenue for fiscal 2026 (year ended March 2026) was $23.7 billion, up 1.11% from fiscal 2025.

85.85 0.63 +0.74%
Market cap
$86.4B
P/E
23.5×
Fwd P/E
13.9×
Dividend yield
3.77%
F-score
6/9
Altman Z
1.39
Beneish M
−2.66
Dividend safety
20/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 86,380.00
Revenue ttm 50,952.81
Net income ttm 17,333.35
Free cash flow ttm (8,148.43)
Net debt Q 58,587.19
Valuation
P/E 23.55
Forward P/E 13.90
Price / sales 0.00
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 0.76 (below 1: weak)
Debt / equity Q 1.19
Interest coverage Q —
Growth
Revenue growth Q +10.37% (above 0%: growing)
Operating income growth Q —
EPS, this year +15.62% (at or above 15%: strong)
EPS, next year A +8.76%
Revenue, next year A −79.22% (below 0%: weak)
EPS, past 5 yrs +7.60%
EPS, next 5 yrs A +11.39%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.1×, against a ten-year median of 1.1×; over the ten years it ranged from 1.0× in 2024 to 1.4× in 2021.
P/E against its own 10 years 56.18%
10-year low 10-year high
EV/Sales against its own 10 years 77.29%
10-year low 10-year high

Dividends

Yield
3.77%
Annual rate
3.24
Payout ratio
—
Growth, 2017–25
−12.2%/yr
  1. 8.82 ’17
  2. 3.12 ’18 −65
  3. 3.09 ’19 −1
  4. 3.14 ’20 +2
  5. 3.44 ’21 +9
  6. 3.12 ’22 −9
  7. 3.54 ’23 +13
  8. 3.51 ’24 −1
  9. 3.12 ’25 −11
  10. 0.13 ’26e −96
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

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

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%

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.

Revenue $m

Mar Jun Sep Dec Year
’26 — — — — —
’26 — — — — 23,706
’25 — — — — 23,447
’24 — — — — 24,951
’23 — — — — 26,106
’22 — — — — 25,198
’21 — — — — 19,335
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’26 — — — — 10,493
’25 — — — — 8,686
’24 — — — — 8,722
’23 — — — — 8,314
’22 — — — — 8,566
’21 — — — — 5,836
Fiscal quarters ending in the months shown.

Free Cash Flow $m

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)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 19,655 20,232 19,604 18,486 19,335 25,198 26,106 24,951 23,447 23,706 +2.1% 4,925 5,374 5,791 (37.5%)
Gross margin, % 21.34 22.90 19.22 19.12 19.59 23.69 17.96 22.48 26.85 27.94 +6.6 pt
EBT 2,855 3,593 2,417 2,230 2,725 4,700 4,327 3,831 4,657 5,605 +7.8%
EBT margin, % 14.53 17.76 12.33 12.06 14.09 18.65 16.58 15.36 19.86 23.64 +9.1 pt
Net income 4,194 4,634 3,768 3,534 3,788 5,970 5,881 5,625 6,295 7,279 +6.3%
Per share, $
Per share, $ Revenue 26.12 29.23 28.95 26.71 27.44 35.01 35.67 33.79 24.91 23.96 (1.0%)
Earnings 13.99 6.80 2.89 2.34 3.05 4.47 12.95 3.90 3.96 4.39 (12.1%)
Cash flow 9.08 8.63 8.37 8.48 8.28 11.90 11.36 11.81 9.23 10.61 +1.7%
Capex (6.08) (7.48) (7.57) (8.88) (8.88) (10.47) (11.21) (12.60) (12.58) (14.24) +9.9%
Free cash flow 3.00 1.15 0.80 (0.39) (0.59) 1.43 0.15 (0.79) (3.35) (3.63) n/m
Book value 35.41 36.12 37.55 35.97 36.88 45.27 48.69 50.89 51.26 53.29 +4.6%
Shares, m 753 692 677 692 705 720 732 738 941 989 +3.1%
Valuation, ×
Valuation, × P/E 4.89 5.68 94.15 56.29 55.91 52.11 19.75 18.61 18.00 23.21 34.9
P/S 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
EV/Sales 0.00 0.00 0.00 0.97 0.98 1.29 0.97 1.06 1.01 1.15 0.7
EV/FCF 3.47 7.47 14.57 34.71 (112.34) 37.28 26.82 (37.16) (8.98) (6.22) (4.0)
Cash, $m
Cash, $m Operating cash flow 6,836 5,974 5,669 5,871 5,836 8,566 8,314 8,722 8,686 10,493 +4.9%
Capex (4,577) (5,175) (5,124) (6,143) (6,254) (7,536) (8,202) (9,303) (11,839) (14,083) +13.3%
Free cash flow 2,259 799 545 (272) (417) 1,030 112 (581) (3,154) (3,589) n/m
Balance, $m
Balance, $m Working capital 4,004 (2,675) (1,553) (3,513) 746 (9,297) 43 (1,270) 4,735 (3,099) n/m
Net debt 24,271 30,775 34,643 36,400 36,978 57,137 48,289 53,762 51,664 58,587 +10.3%
Shareholders’ equity 26,648 25,006 25,428 24,899 25,983 32,583 35,631 37,574 48,258 52,714 +7.9%
Returns, %
Returns, % ROA 11.71 5.74 2.47 1.91 2.48 2.96 7.79 2.45 2.85 3.09 (8.6) pt
ROIC 5.15 5.19 3.92 3.60 3.76 4.16 4.38 3.85 3.94 4.09 (1.1) pt
ROE 43.45 18.24 7.87 6.39 8.43 10.97 27.55 7.86 8.63 8.60 (34.8) pt
People
People Employees 22,132 23,023 22,576 23,069 23,683 30,756 31,275 31,425 31,645 33,017 +4.5%
Revenue/emp, $m 0.89 0.88 0.87 0.80 0.82 0.82 0.83 0.79 0.74 0.72 (2.3%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026

National Grid Transco, PLC vs peers in Utilities Regulated Electric (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SO Southern Company (The) $107.4B 21.2× 21.3× +13.04% (above 0%: growing) +14.19% (above 0%: growing) +362.13% (above 0%: growing) 0.00% 33.93% Compare
DUK Duke Energy Corporation $101.4B 19.1× 18.9× +6.58% (above 0%: growing) +9.94% (above 0%: growing) −496.09% (below 0%: shrinking) 0.00% 30.17% Compare
NGG National Grid Transco, PLC $86.4B 23.5× 13.9× +10.37% (above 0%: growing) +115.14% (above 0%: growing) −2,663.95% (below 0%: shrinking) 23.34% 0.00%
AEP American Electric Power Company, Inc. $69.0B 20.3× 20.1× +13.66% (above 0%: growing) +22.92% (above 0%: growing) −376.09% (below 0%: shrinking) 69.45% 26.52% Compare
D Dominion Energy Inc. $61.3B 23.2× 22.5× +24.08% (above 0%: growing) +12.07% (above 0%: growing) +50.09% (above 0%: growing) 68.86% 32.79% Compare
ETR Entergy Corporation $52.7B 25.0× 25.0× +14.51% (above 0%: growing) +29.75% (above 0%: growing) −295.69% (below 0%: shrinking) 72.75% 33.93% Compare
XEL Xcel Energy Inc. $51.6B 18.6× 19.5× +6.56% (above 0%: growing) +71.48% (above 0%: growing) +5.89% (above 0%: growing) 72.99% 28.55% Compare
EXC Exelon Corporation $48.2B 18.1× 16.2× +9.16% (above 0%: growing) −18.60% (below 0%: shrinking) −410.43% (below 0%: shrinking) 60.14% 18.84% Compare
ED Consolidated Edison Inc $44.8B 19.4× 18.2× +8.45% (above 0%: growing) +8.38% (above 0%: growing) +237.96% (above 0%: growing) 0.00% 23.81% Compare
Median of peers $57.0B 19.8× 19.8× +11.10% +13.13% −144.90% 64.50% 29.36%

All 39 Utilities Regulated Electric stocks →

National Grid Transco, PLC (NGG) Latest News

5 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · Investing.com

30 Oct

Impact 3 · · The Telegraph

26 Oct

Impact 4 · · Simply Wall St.

23 Oct

Impact 4 · · worldconstructionnetwork.com

20 Oct

Impact 3 · · PR Newswire

17 Oct

Impact 3 · · MarketBeat

14 Oct

Impact 4 · · Insider Monkey

7 Oct

Impact 3 · · Simply Wall St.

29 Sep

Impact 3 · · The Telegraph

28 Sep

Impact 3 · · Zacks

3 Sep

Impact 3 ·

2 Sep

Impact 4 · · utilitydive.com

1 Sep

Impact 4 ·

27 Aug

Impact 3 · · InvestorsHub

23 Jul

Impact 3 ·

17 Jul

Impact 3 ·

16 Jul

Impact 4 ·

14 Jul

Impact 4 · · MarketBeat

7 Jul

Impact 3 · · utilitydive.com

3 Jul

Impact 4 ·
Impact 3 ·

2 Jul

Impact 4 · · Barchart

1 Jul

Impact 4 ·
Impact 4 ·

23 Jun

Impact 3 · · power-technology.com

12 Jun

Impact 3 ·

8 Jun

Impact 4 · · Insider Monkey

4 Jun

Impact 4 · · Simply Wall St.

21 May

Impact 3 · · Simply Wall St.

NGG metrics, ten years each

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