Saturday 17 October 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.

81.22 2.15 +2.72%

Follow NGG

Alert me

Market cap: $79.5B
P/E: 22.3×
Fwd P/E: 13.6×
Dividend yield: 3.99%
F-score: 6/9
Altman Z: 1.39
Beneish M: −2.66
Dividend safety: 20/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 79,500.00

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 22.28

Fwd P/E 13.60

P/S ratio 0.00

P/B ratio 0.00

Past 5Y EPS Growth 7.60%

This Y EPS Growth 14.07%

Next Y EPS Growth 9.23%

Next Y revenue growth (78.95%)

Next 5Y EPS Growth 10.78%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 53.96%

10-year low 10-year high

EV/Sales against its own 10 years 77.10%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate 3.24

Annual Dividend Yield 3.99%

	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 special payouts not included in total or ratios

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%

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.

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.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	57.65	46.36	47.96	44.29	55.89	47.22	56.41	55.13	55.82	74.03	Analyst estimates 2027–2029 Powerpack
	High	75.29	59.82	62.98	69.08	73.55	80.20	74.48	73.40	78.49	94.64
People
People	Employees	22,132	23,023	22,576	23,069	23,683	30,756	31,275	31,425	31,645	33,017
	Revenue/emp, $m	0.89	0.88	0.87	0.80	0.82	0.82	0.83	0.79	0.74	0.72
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
	Gross margin, %	21.34	22.90	19.22	19.12	19.59	23.69	17.96	22.48	26.85	27.94
	EBT	2,855	3,593	2,417	2,230	2,725	4,700	4,327	3,831	4,657	5,605
	EBT margin, %	14.53	17.76	12.33	12.06	14.09	18.65	16.58	15.36	19.86	23.64
	Net income	4,194	4,634	3,768	3,534	3,788	5,970	5,881	5,625	6,295	7,279
	Depreciation	1,936	2,030	2,085	2,085	2,187	2,499	2,391	2,591	3,163	3,012
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
	Earnings	13.99	6.80	2.89	2.34	3.05	4.47	12.95	3.90	3.96	4.39
	Cash flow	9.08	8.63	8.37	8.48	8.28	11.90	11.36	11.81	9.23	10.61
	Capex	(6.08)	(7.48)	(7.57)	(8.88)	(8.88)	(10.47)	(11.21)	(12.60)	(12.58)	(14.24)
	Free cash flow	3.00	1.15	0.80	(0.39)	(0.59)	1.43	0.15	(0.79)	(3.35)	(3.63)
	Book value	35.41	36.12	37.55	35.97	36.88	45.27	48.69	50.89	51.26	53.29
	Shares, m	753	692	677	692	705	720	732	738	941	989
Valuation, ×
Valuation, ×	P/E	4.89	5.68	94.15	56.29	55.91	52.11	19.75	18.61	18.00	23.21
	P/S	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/B	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	EV/Sales	0.00	0.00	0.00	0.97	0.98	1.29	0.97	1.06	1.01	1.15
	EV/FCF	3.47	7.47	14.57	34.71	(112.34)	37.28	26.82	(37.16)	(8.98)	(6.22)
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
	Capex	(4,577)	(5,175)	(5,124)	(6,143)	(6,254)	(7,536)	(8,202)	(9,303)	(11,839)	(14,083)
	Free cash flow	2,259	799	545	(272)	(417)	1,030	112	(581)	(3,154)	(3,589)
Balance, $m
Balance, $m	Working capital	4,004	(2,675)	(1,553)	(3,513)	746	(9,297)	43	(1,270)	4,735	(3,099)
	Total debt	37,438	35,323	37,717	39,151	40,845	62,096	51,810	59,170	60,650	62,666
	Net debt	24,271	30,775	34,643	36,400	36,978	57,137	48,289	53,762	51,664	58,587
	Shareholders’ equity	26,648	25,006	25,428	24,899	25,983	32,583	35,631	37,574	48,258	52,714
Returns, %
Returns, %	ROA	11.71	5.74	2.47	1.91	2.48	2.96	7.79	2.45	2.85	3.09
	ROIC	5.15	5.19	3.92	3.60	3.76	4.16	4.38	3.85	3.94	4.09
	ROE	43.45	18.24	7.87	6.39	8.43	10.97	27.55	7.86	8.63	8.60

Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026

Charts ten years each

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)	$102.6B	21.9×	20.8×	+0.06% (above 0%: growing)	+28.75% (above 0%: growing)	+23.51% (above 0%: growing)	75.71%	25.46%	Compare
DUK Duke Energy Corporation	$92.7B	18.2×	18.4×	+1.12% (above 0%: growing)	+10.40% (above 0%: growing)	−233.81% (below 0%: shrinking)	73.06%	26.99%	Compare
NGG National Grid Transco, PLC	$79.5B	22.3×	13.6×	+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.	$67.7B	21.8×	20.3×	+7.04% (above 0%: growing)	−42.79% (below 0%: shrinking)	−28.81% (below 0%: shrinking)	70.56%	22.90%	Compare
D Dominion Energy Inc.	$55.3B	22.2×	18.6×	+17.59% (above 0%: growing)	−57.95% (below 0%: shrinking)	+31.64% (above 0%: growing)	67.68%	7.34%	Compare
ETR Entergy Corporation	$49.7B	26.5×	25.3×	+5.85% (above 0%: growing)	−1.87% (below 0%: shrinking)	−16.71% (below 0%: shrinking)	69.73%	24.13%	Compare
XEL Xcel Energy Inc.	$46.9B	20.8×	19.2×	−5.11% (below 0%: shrinking)	+23.68% (above 0%: growing)	−37.30% (below 0%: shrinking)	75.22%	22.64%	Compare
EXC Exelon Corporation	$43.9B	15.9×	16.0×	+9.95% (above 0%: growing)	0.00%	+49.00% (above 0%: growing)	62.95%	16.41%	Compare
ED Consolidated Edison Inc	$40.5B	18.4×	17.0×	+13.18% (above 0%: growing)	+22.06% (above 0%: growing)	−30.76% (below 0%: shrinking)	74.22%	13.57%	Compare
Median of peers	$52.5B	21.3×	18.9×	+6.45%	+5.20%	−22.76%	71.81%	22.77%

All 40 Utilities Regulated Electric stocks →

National Grid Transco, PLC (NGG) key facts

Strength: National Grid Transco, PLC’s revenue for fiscal 2026 (year ended March 2026) was $23.7 billion, up 1.11% from fiscal 2025.
Strength: Net income was $7.3 billion, or $4.39 per share (basic), a net margin of 18.3%.
National Grid Transco, PLC (NGG) is an Utilities Regulated Electric company in the Utilities sector, traded in the US as an ADR.
As of October 16, 2026, NGG traded at $81.22, a market capitalization of $79.5 billion.
At that price the stock trades at 22.3× trailing-twelve-month earnings; its P/E is higher than 54% of its own readings over the past ten years.
National Grid Transco, PLC pays an annual dividend of $3.24 per share, a yield of 3.99%.
Return on equity was 8.60% and debt-to-equity 1.19.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 1.39 (distress zone) for fiscal 2026.