NGG Stock Analysis: National Grid | NYSE
Utilities - Regulated Electric | NYSE, USA | Market Cap: 75.735m USD | 12M Return: 9.2% | US6362744095 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 75.2M
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
National Grid plc is a UK-headquartered multi-utility that owns and operates regulated electricity and gas transmission and distribution networks across Great Britain and the northeastern United States. Its business is organized into UK Electricity Transmission, UK Electricity Distribution, New England, New York, National Grid Ventures, and a residual property/insurance segment. The company was founded in 1990 and is listed on the NYSE as an ADR under the ticker NGG.
As a multi-utility operating in a capital-intensive sector, National Grids earnings are largely shaped by regulated rate frameworks that allow recovery of invested capital plus an allowed return, with growth typically tied to permitted capital expenditure programs and periodic regulatory resets rather than commodity exposure. The Ventures segment extends the asset base into non-regulated infrastructure, including subsea electricity interconnectors and LNG import facilities, providing geographic and regulatory diversification beyond the core regulated networks.
- UK RIIO regulatory framework determines allowed returns on transmission assets
- Record grid modernization capex expands rate base across UK and US operations
- High leverage amplifies interest rate exposure on earnings and refinancing costs
| Net Income: 3.28b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -0.40 > 1.0 |
| NWC/Revenue: -12.97% < 20% (prev 20.79%; Δ -33.76% < -1%) |
| CFO/TA 0.06 > 3% & CFO 6.27b > Net Income 3.28b |
| Net Debt (44.8b) to EBITDA (7.76b): 5.78 < 3 |
| Current Ratio: 0.76 > 1.5 & < 3 |
| Outstanding Shares: last quarter (995.2m) vs 12m ago 23.01% < -2% |
| Gross Margin: 32.63% > 18% (prev 26.05%; Δ 6.59% > 0.5%) |
| Asset Turnover: 16.58% > 50% (prev 16.72%; Δ -0.14% > 0%) |
| Interest Coverage Ratio: 4.22 > 6 (EBIT TTM 5.49b / Interest Expense TTM 1.30b) |
| A: -0.02 (Total Current Assets 7.49b - Total Current Liabilities 9.80b) / Total Assets 108b |
| B: 0.39 (Retained Earnings 41.9b / Total Assets 108b) |
| C: 0.05 (EBIT TTM 5.49b / Avg Total Assets 108b) |
| D: 0.57 (Book Value of Equity 39.3b / Total Liabilities 69.0b) |
| Altman-Z'' = 2.06 = BBB |
| DSRI: 1.04 (Receivables 3.88b/3.75b, Revenue 17.8b/17.8b) |
| GMI: 0.80 (GM 26.05% / 32.63%) |
| AQI: 1.04 (AQ_t 0.18 / AQ_t-1 0.17) |
| SGI: 1.00 (Revenue 17.8b / 17.8b) |
| TATA: -0.03 (NI 3.28b - CFO 6.27b) / TA 108b) |
| Beneish M = -3.16 (Cap -4..+1) = AA |
As of October 04, 2026, the stock is trading at USD 76.12 with a total of 899,615 shares traded. Over the past week, the price has changed by +0.83%, over one month by -2.47%, over three months by -8.12% and over the past year by +9.24%.
Current recommended Stop Loss: 73.40 (which is 3.6% or 2.3 ATR below the current price).
National Grid has received a consensus analysts rating of 3.80. Therefore, it is recommended to hold NGG.
- StrongBuy: 2
- Buy: 1
- Hold: 1
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 91.2 | 19.8% |
Market Cap GBP = 57.2b (75.7b USD * 0.75506 USD.GBP)
P/E Trailing = 17.3972
P/E Forward = 12.6422
P/S = 4.282
P/B = 1.44
P/EG = 0.9582
Revenue TTM = 17.8b GBP
EBIT TTM = 5.49b GBP
EBITDA TTM = 7.76b GBP
Long Term Debt = 42.1b GBP (from longTermDebt, last quarter)
Short Term Debt = 3.90b GBP (from shortTermDebt, last quarter)
Debt = 47.7b GBP (from shortLongTermDebtTotal, last quarter) + Leases 893.0m
Net Debt = 44.8b GBP (calculated: Debt 47.7b - CCE 2.83b)
Enterprise Value = 102b GBP (57.2b + Debt 47.7b - CCE 2.83b)
Interest Coverage Ratio = 4.22 (Ebit TTM 5.49b / Interest Expense TTM 1.30b)
EV/FCF = -26.98x (Enterprise Value 102b / FCF TTM -3.78b)
FCF Yield = -3.71% (FCF TTM -3.78b / Enterprise Value 102b)
FCF Margin = -21.20% (FCF TTM -3.78b / Revenue TTM 17.8b)
Net Margin = 18.39% (Net Income TTM 3.28b / Revenue TTM 17.8b)
Gross Margin = 32.63% ((Revenue TTM 17.8b - Cost of Revenue TTM 12.0b) / Revenue TTM)
Gross Margin QoQ = 39.02% (prev 22.86%)
Tobins Q-Ratio = 0.94 (Enterprise Value 102b / Total Assets 108b)
Interest Expense / Debt = 2.73% (Interest Expense 1.30b / Debt 47.7b)
Taxrate = 22.44% (949.5m / 4.23b)
NOPAT = 4.26b (EBIT 5.49b * (1 - 22.44%))
Current Ratio = 0.76 (Total Current Assets 7.49b / Total Current Liabilities 9.80b)
Debt / Equity = 1.21 (Debt 47.7b / totalStockholderEquity, last quarter 39.3b)
Debt / EBITDA = 5.78 (Net Debt 44.8b / EBITDA 7.76b)
Debt / FCF = -11.86 (negative FCF - burning cash) (Net Debt 44.8b / FCF TTM -3.78b)
Total Stockholder Equity = 37.5b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.05% (Net Income 3.28b / Total Assets 108b)
RoE = 8.74% (Net Income TTM 3.28b / Total Stockholder Equity 37.5b)
RoCE = 6.90% (EBIT 5.49b / Capital Employed (Equity 37.5b + L.T.Debt 42.1b))
RoIC = 4.20% (NOPAT 4.26b / Invested Capital 101b)
WACC = 4.08% (E(57.2b)/V(105b) * Re(5.72%) + D(47.7b)/V(105b) * Rd(2.73%) * (1-Tc(0.22)))
Discount Rate = 5.72% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -17.90 | Cagr: 14.84%
[DCF] Fair Price = unknown (Cash Flow -3.78b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -92.87 | Revenue CAGR: -6.75% | SUE: N/A | # QB: 0
EPS current Year (2026-03-31): EPS=5.25 | Chg30d=+0.38% | Revisions=+40% | GrowthEPS=+42.8% | GrowthRev=+2.4%
EPS next Year (2027-03-31): EPS=6.06 | Chg30d=-0.10% | Revisions=+0% | GrowthEPS=+15.3% | GrowthRev=+10.2%
[Analyst] Revisions Ratio: +29% (up=3, down=1)