InsiderClue
Stocks · Energy · Natural Gas Transmission

NATIONAL GRID PLC

NGG Clue Score43
United Kingdom Fiscal year ends March CIK 0001004315
$76.48 -0.82% Close, 9 Oct 2026
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Price $76.48 +27.02% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue15.04Operating income3.21Net income7.80EPS, diluted2.06Fiscal year 2018Revenue15.25 +1.4%Operating income3.49Net income3.55 −54.5%EPS, diluted1.02 −50.5%Fiscal year 2019Revenue14.93 −2.1%Operating income2.87Net income1.51 −57.4%EPS, diluted0.44 −56.5%Fiscal year 2020Revenue13.36 −10.5%Operating income2.28Net income1.26 −16.3%EPS, diluted0.36 −18.2%Fiscal year 2021Revenue13.67 +2.3%Operating income2.40Net income1.64 +29.7%EPS, diluted0.46 +27.5%Fiscal year 2022Revenue18.45 +35.0%Operating income4.37Net income2.35 +43.5%EPS, diluted0.65 +40.4%Fiscal year 2023Revenue21.66 +17.4%Operating income4.88Net income7.80 +231.4%EPS, diluted1.96 +201.8%Fiscal year 2024Revenue19.85 −8.4%Operating income4.48Net income2.29 −70.6%EPS, diluted0.57 −70.9%Fiscal year 2025Revenue18.38 −7.4%Operating income4.93Net income2.90 +26.7%EPS, diluted0.61 +7.5%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 15.04 15.25 14.93 13.36 13.67 18.45 21.66 19.85 18.38
Growth +1.4% −2.1% −10.5% +2.3% +35.0% +17.4% −8.4% −7.4%
Operating income 3.21 3.49 2.87 2.28 2.40 4.37 4.88 4.48 4.93
Net income 7.80 3.55 1.51 1.26 1.64 2.35 7.80 2.29 2.90
Growth −54.5% −57.4% −16.3% +29.7% +43.5% +231.4% −70.6% +26.7%
EPS, diluted 2.06 1.02 0.44 0.36 0.46 0.65 1.96 0.57 0.61
Growth −50.5% −56.5% −18.2% +27.5% +40.4% +201.8% −70.9% +7.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin21.3%Net margin51.8%Fiscal year 2018Operating margin22.9%Net margin23.3%Fiscal year 2019Operating margin19.2%Net margin10.1%Fiscal year 2020Operating margin17.1%Net margin9.5%Fiscal year 2021Operating margin17.6%Net margin12.0%Fiscal year 2022Operating margin23.7%Net margin12.8%Fiscal year 2023Operating margin22.5%Net margin36.0%Fiscal year 2024Operating margin22.5%Net margin11.5%Fiscal year 2025Operating margin26.8%Net margin15.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 21.3% 22.9% 19.2% 17.1% 17.6% 23.7% 22.5% 22.5% 26.8%
Net margin 51.8% 23.3% 10.1% 9.5% 12.0% 12.8% 36.0% 11.5% 15.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Capital expenditure
Fiscal year 2017Capital expenditure−3.30Buybacks−0.19Dividends paid−1.46Fiscal year 2018Capital expenditure−3.74Buybacks−1.02Dividends paid−4.49Fiscal year 2019Capital expenditure−3.64Buybacks0.00Dividends paid−1.16Fiscal year 2020Capital expenditure−4.29Buybacks0.00Dividends paid−0.89Fiscal year 2021Capital expenditure−4.21Dividends paid−1.41Fiscal year 2022Capital expenditure−5.10Dividends paid−0.92Fiscal year 2023Capital expenditure−6.33Dividends paid−1.61Fiscal year 2024Capital expenditure−6.90Dividends paid−1.72Fiscal year 2025Capital expenditure−8.78Dividends paid−1.53
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Capital expenditure −3.30 −3.74 −3.64 −4.29 −4.21 −5.10 −6.33 −6.90 −8.78
Buybacks −0.19 −1.02 0.00 0.00 n/a n/a n/a n/a n/a
Dividends paid −1.46 −4.49 −1.16 −0.89 −1.41 −0.92 −1.61 −1.72 −1.53

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash1.14Total debt23.14Net cash (debt)−22.00Shareholders’ equity20.37Debt to equity1.14Fiscal year 2018Cash0.33Total debt22.18Net cash (debt)−21.85Shareholders’ equity19.02Debt to equity1.17Fiscal year 2019Cash0.25Total debt24.26Net cash (debt)−24.01Shareholders’ equity19.55Debt to equity1.24Fiscal year 2020Cash0.07Total debt26.72Net cash (debt)−26.65Shareholders’ equity19.77Debt to equity1.35Fiscal year 2021Cash0.16Total debt27.48Net cash (debt)−27.33Shareholders’ equity19.84Debt to equity1.39Fiscal year 2022Cash0.20Total debt33.34Net cash (debt)−33.14Shareholders’ equity23.83Debt to equity1.40Fiscal year 2023Cash0.16Total debt40.03Net cash (debt)−39.87Shareholders’ equity29.54Debt to equity1.36Fiscal year 2024Cash0.56Total debt42.21Net cash (debt)−41.65Shareholders’ equity29.87Debt to equity1.41Fiscal year 2025Cash1.18Total debt42.88Net cash (debt)−41.70Shareholders’ equity37.80Debt to equity1.13
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.14 0.33 0.25 0.07 0.16 0.20 0.16 0.56 1.18
Total debt 23.14 22.18 24.26 26.72 27.48 33.34 40.03 42.21 42.88
Net cash (debt) −22.00 −21.85 −24.01 −26.65 −27.33 −33.14 −39.87 −41.65 −41.70
Shareholders’ equity 20.37 19.02 19.55 19.77 19.84 23.83 29.54 29.87 37.80
Debt to equity 1.14 1.17 1.24 1.35 1.39 1.40 1.36 1.41 1.13

In billions of GBP, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending March, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Mar 2017 FY2018 31 Mar 2018 FY2019 31 Mar 2019 FY2020 31 Mar 2020 FY2021 31 Mar 2021 FY2022 31 Mar 2022 FY2023 31 Mar 2023 FY2024 31 Mar 2024 FY2025 31 Mar 2025
Margins
21.3% 22.9% 19.2% 17.1% 17.6% 23.7% 22.5% 22.5% 26.8%
14.5% 17.4% 12.3% 10.5% 12.2% 18.7% 16.6% 15.4% 19.9%
51.8% 23.3% 10.1% 9.5% 12.0% 12.8% 36.0% 11.5% 15.8%
Spending
0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.2% 0.2%
21.9% 24.5% 24.3% 32.1% 30.8% 27.6% 29.2% 34.8% 47.8%
17.1% −33.4% 18.4% 26.4% 21.6% 36.6% 24.4% 27.3% 22.5%
Returns
38.3% 18.7% 7.7% 6.4% 8.3% 9.9% 26.4% 7.7% 7.7%
11.8% 6.0% 2.4% 1.9% 2.4% 2.5% 8.4% 2.3% 2.7%
Balance and payout
1.14 1.17 1.24 1.35 1.39 1.40 1.36 1.41 1.13
69.0% 67.9% 69.1% 70.7% 70.5% 74.9% 68.1% 69.6% 64.6%
18.8% 126.4% 76.8% 70.6% 86.2% 39.2% 20.6% 75.0% 52.7%

Shown in GBP as filed; the screener converts to dollars.