(NGG) National Grid - Overview
Stock: Electricity, Gas, Transmission, Distribution
| Risk 5d forecast | |
|---|---|
| Volatility | 19.7% |
| Relative Tail Risk | -1.04% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 2.01 |
| Alpha | 53.28 |
| Character TTM | |
|---|---|
| Beta | 0.140 |
| Beta Downside | -0.296 |
| Drawdowns 3y | |
|---|---|
| Max DD | 20.76% |
| CAGR/Max DD | 1.13 |
Description: NGG National Grid March 03, 2026
National Grid plc (NGG) is a trans-Atlantic multi-utility company specializing in the transmission and distribution of electricity and natural gas. Headquartered in London and established in 1990, the firm operates critical energy infrastructure across the United Kingdom and the Northeastern United States. As a regulated utility, the company generally operates under government-mandated price controls that influence revenue structures and require consistent capital expenditure for grid maintenance and modernization.
The company divides its operations into specific geographic and functional segments. In the domestic market, it manages high-voltage electricity transmission networks in England and Wales, alongside distribution services in the Midlands, Southwest England, and South Wales. The National Grid Ventures segment manages electricity interconnectors and Liquefied Natural Gas (LNG) importation facilities at the Isle of Grain. In the United States, the New England and New York segments provide gas and electricity supply, distribution, and transmission services.
Beyond core utility services, National Grid engages in commercial property leasing and insurance activities within the UK. Investors seeking to evaluate the companys valuation against its regulatory environment should examine the comprehensive analysis available on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 4.61b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.05 > 0.02 and ΔFCF/TA -5.34 > 1.0 |
| NWC/Revenue: -0.71% < 20% (prev -2.65%; Δ 1.94% < -1%) |
| CFO/TA 0.11 > 3% & CFO 11.36b > Net Income 4.61b |
| Net Debt (45.03b) to EBITDA (12.97b): 3.47 < 3 |
| Current Ratio: 0.97 > 1.5 & < 3 |
| Outstanding Shares: last quarter (990.0m) vs 12m ago 22.96% < -2% |
| Gross Margin: 27.08% > 18% (prev 0.35%; Δ 2673 % > 0.5%) |
| Asset Turnover: 33.13% > 50% (prev 23.31%; Δ 9.82% > 0%) |
| Interest Coverage Ratio: 3.20 > 6 (EBITDA TTM 12.97b / Interest Expense TTM 2.73b) |
Altman Z'' 2.34
| A: -0.00 (Total Current Assets 8.93b - Total Current Liabilities 9.19b) / Total Assets 103.76b |
| B: 0.39 (Retained Earnings 39.98b / Total Assets 103.76b) |
| C: 0.08 (EBIT TTM 8.72b / Avg Total Assets 109.40b) |
| D: 0.54 (Book Value of Equity 35.91b / Total Liabilities 66.54b) |
| Altman-Z'' Score: 2.34 = BBB |
Beneish M -3.04
| DSRI: 0.51 (Receivables 2.83b/4.10b, Revenue 36.25b/26.81b) |
| GMI: 1.31 (GM 27.08% / 35.47%) |
| AQI: 0.88 (AQ_t 0.18 / AQ_t-1 0.20) |
| SGI: 1.35 (Revenue 36.25b / 26.81b) |
| TATA: -0.07 (NI 4.61b - CFO 11.36b) / TA 103.76b) |
| Beneish M-Score: -3.04 (Cap -4..+1) = AA |
What is the price of NGG shares?
Over the past week, the price has changed by +2.67%, over one month by +10.96%, over three months by +24.11% and over the past year by +58.77%.
Is NGG a buy, sell or hold?
- StrongBuy: 2
- Buy: 1
- Hold: 0
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the NGG price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 83.5 | -11.1% |
| Analysts Target Price | 83.5 | -11.1% |
NGG Fundamental Data Overview February 28, 2026
P/E Trailing = 23.2556
P/E Forward = 15.7729
P/S = 5.3302
P/B = 1.8565
P/EG = 1.3607
Revenue TTM = 36.25b GBP
EBIT TTM = 8.72b GBP
EBITDA TTM = 12.97b GBP
Long Term Debt = 42.29b GBP (from longTermDebt, last quarter)
Short Term Debt = 3.62b GBP (from shortTermDebt, last quarter)
Debt = 45.91b GBP (from shortLongTermDebtTotal, last quarter)
Net Debt = 45.03b GBP (from netDebt column, last quarter)
Enterprise Value = 111.28b GBP (69.43b + Debt 45.91b - CCE 4.06b)
Interest Coverage Ratio = 3.20 (Ebit TTM 8.72b / Interest Expense TTM 2.73b)
EV/FCF = -21.21x (Enterprise Value 111.28b / FCF TTM -5.25b)
FCF Yield = -4.71% (FCF TTM -5.25b / Enterprise Value 111.28b)
FCF Margin = -14.47% (FCF TTM -5.25b / Revenue TTM 36.25b)
Net Margin = 12.72% (Net Income TTM 4.61b / Revenue TTM 36.25b)
Gross Margin = 27.08% ((Revenue TTM 36.25b - Cost of Revenue TTM 26.43b) / Revenue TTM)
Gross Margin QoQ = 22.86% (prev 34.13%)
Tobins Q-Ratio = 1.07 (Enterprise Value 111.28b / Total Assets 103.76b)
Interest Expense / Debt = 1.78% (Interest Expense 819.1m / Debt 45.91b)
Taxrate = 25.18% (207.5m / 824.1m)
NOPAT = 6.52b (EBIT 8.72b * (1 - 25.18%))
Current Ratio = 0.97 (Total Current Assets 8.93b / Total Current Liabilities 9.19b)
Debt / Equity = 1.23 (Debt 45.91b / totalStockholderEquity, last quarter 37.19b)
Debt / EBITDA = 3.47 (Net Debt 45.03b / EBITDA 12.97b)
Debt / FCF = -8.58 (negative FCF - burning cash) (Net Debt 45.03b / FCF TTM -5.25b)
Total Stockholder Equity = 35.18b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.21% (Net Income 4.61b / Total Assets 103.76b)
RoE = 13.11% (Net Income TTM 4.61b / Total Stockholder Equity 35.18b)
RoCE = 11.26% (EBIT 8.72b / Capital Employed (Equity 35.18b + L.T.Debt 42.29b))
RoIC = 9.96% (NOPAT 6.52b / Invested Capital 65.50b)
WACC = 4.40% (E(69.43b)/V(115.34b) * Re(6.43%) + D(45.91b)/V(115.34b) * Rd(1.78%) * (1-Tc(0.25)))
Discount Rate = 6.43% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 10.89%
[DCF] Fair Price = unknown (Cash Flow -5.25b)
EPS Correlation: -29.06 | EPS CAGR: 0.0% | SUE: 0.0 | # QB: 0
Revenue Correlation: 43.76 | Revenue CAGR: -1.56% | SUE: N/A | # QB: 0
EPS next Year (2027-03-31): EPS=6.02 | Chg7d=+0.092 | Chg30d=+0.092 | Revisions Net=+1 | Growth EPS=+14.9% | Growth Revenue=+8.0%