(NGG) National Grid - Overview
Sector: Utilities | Industry: Utilities - Regulated Electric | Exchange: NYSE (USA) | Market Cap: 86.186m USD | Total Return: 20.3% in 12m
Avg Turnover: 86.7M
Warnings
Share dilution 23.0% YoY
Tailwinds
No distinct edge detected
National Grid plc (NGG) is a major multinational utility company focused on the transmission and distribution of electricity and natural gas. Headquartered in London, the company operates regulated networks across the United Kingdom and the Northeastern United States, specifically in New York and New England. Its portfolio includes high-voltage transmission lines, local distribution networks, subsea electricity interconnectors, and liquefied natural gas (LNG) storage facilities.
As a regulated utility, the company operates under a natural monopoly business model where revenue is largely determined by government regulators based on capital investment and service performance. This sector is characterized by high capital intensity and serves as critical infrastructure for the energy transition. Investors may find ValueRay useful for analyzing the companys valuation metrics and dividend history. The company also maintains a non-regulated division, National Grid Ventures, which invests in competitive energy markets and renewable energy technologies.
- Regulatory rate case settlements in New York and New England drive earnings
- UK energy transition capital expenditure increases asset base and regulated returns
- Interest rate fluctuations impact debt servicing costs for capital intensive infrastructure
- Electricity transmission network expansion supports long-term revenue growth and dividend stability
- Political and regulatory shifts in UK energy policy affect allowed profit margins
| Net Income: 6.11b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.07 > 0.02 and ΔFCF/TA -3.10 > 1.0 |
| NWC/Revenue: -6.48% < 20% (prev -3.15%; Δ -3.33% < -1%) |
| CFO/TA 0.11 > 3% & CFO 11.5b > Net Income 6.11b |
| Net Debt (44.8b) to EBITDA (15.0b): 2.98 < 3 |
| Current Ratio: 0.76 > 1.5 & < 3 |
| Outstanding Shares: last quarter (995.2m) vs 12m ago 23.01% < -2% |
| Gross Margin: 29.34% > 18% (prev 0.22%; Δ 2.91k% > 0.5%) |
| Asset Turnover: 34.54% > 50% (prev 32.60%; Δ 1.94% > 0%) |
| Interest Coverage Ratio: 4.02 > 6 (EBITDA TTM 15.0b / Interest Expense TTM 2.65b) |
| 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: 0.10 (EBIT TTM 10.7b / Avg Total Assets 103b) |
| D: 0.55 (Book Value of Equity 38.0b / Total Liabilities 69.0b) |
| Altman-Z'' = 2.39 = BBB |
| DSRI: 1.15 (Receivables 3.88b/3.03b, Revenue 35.7b/32.1b) |
| GMI: 0.74 (GM 29.34% / 21.71%) |
| AQI: 0.92 (AQ_t 0.18 / AQ_t-1 0.19) |
| SGI: 1.11 (Revenue 35.7b / 32.1b) |
| TATA: -0.05 (NI 6.11b - CFO 11.5b) / TA 108b) |
| Beneish M = -3.15 (Cap -4..+1) = AA |
As of May 30, 2026, the stock is trading at USD 81.53 with a total of 1,521,160 shares traded.
Over the past week, the price has changed by -3.20%,
over one month by -2.71%,
over three months by -10.79% and
over the past year by +20.32%.
National Grid has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy NGG.
- StrongBuy: 2
- Buy: 1
- Hold: 0
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 92.3 | 13.2% |
P/E Trailing = 21.4913
P/E Forward = 14.4092
P/S = 4.8729
P/B = 1.6326
P/EG = 1.0833
Revenue TTM = 35.7b USD
EBIT TTM = 10.7b USD
EBITDA TTM = 15.0b USD
Long Term Debt = 42.3b USD (from longTermDebt, two quarters ago)
Short Term Debt = 3.90b USD (from shortTermDebt, last quarter)
Debt = 47.6b USD (from shortLongTermDebtTotal, last quarter) + Leases 829.0m
Net Debt = 44.8b USD (calculated: Debt 47.6b - CCE 2.83b)
Enterprise Value = 131b USD (86.2b + Debt 47.6b - CCE 2.83b)
Interest Coverage Ratio = 4.02 (Ebit TTM 10.7b / Interest Expense TTM 2.65b)
EV/FCF = -18.49x (Enterprise Value 131b / FCF TTM -7.08b)
FCF Yield = -5.41% (FCF TTM -7.08b / Enterprise Value 131b)
FCF Margin = -19.85% (FCF TTM -7.08b / Revenue TTM 35.7b)
Net Margin = 17.13% (Net Income TTM 6.11b / Revenue TTM 35.7b)
Gross Margin = 29.34% ((Revenue TTM 35.7b - Cost of Revenue TTM 25.2b) / Revenue TTM)
Gross Margin QoQ = 39.02% (prev 22.86%)
Tobins Q-Ratio = 1.21 (Enterprise Value 131b / Total Assets 108b)
Interest Expense / Debt = 5.57% (Interest Expense 2.65b / Debt 47.6b)
Taxrate = 21.78% (742.0m / 3.41b)
NOPAT = 8.34b (EBIT 10.7b * (1 - 21.78%))
Current Ratio = 0.76 (Total Current Assets 7.49b / Total Current Liabilities 9.80b)
Debt / Equity = 1.21 (Debt 47.6b / totalStockholderEquity, last quarter 39.3b)
Debt / EBITDA = 2.98 (Net Debt 44.8b / EBITDA 15.0b)
Debt / FCF = -6.32 (negative FCF - burning cash) (Net Debt 44.8b / FCF TTM -7.08b)
Total Stockholder Equity = 37.5b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.92% (Net Income 6.11b / Total Assets 108b)
RoE = 16.29% (Net Income TTM 6.11b / Total Stockholder Equity 37.5b)
RoCE = 13.35% (EBIT 10.7b / Capital Employed (Equity 37.5b + L.T.Debt 42.3b))
RoIC = 8.14% (NOPAT 8.34b / Invested Capital 102b)
WACC = 5.36% (E(86.2b)/V(134b) * Re(5.92%) + D(47.6b)/V(134b) * Rd(5.57%) * (1-Tc(0.22)))
Discount Rate = 5.92% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 68.89 | Cagr: 14.84%
[DCF] Fair Price = unknown (Cash Flow -7.08b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: 86.42 | Revenue CAGR: 15.39% | SUE: N/A | # QB: 0
EPS current Year (2027-03-31): EPS=6.08 | Chg30d=-0.26% | Revisions=+0% | GrowthEPS=+0.0% | GrowthRev=+15.9%
EPS next Year (2028-03-31): EPS=6.51 | Chg30d=+0.33% | Revisions=+20% | GrowthEPS=+7.1% | GrowthRev=+6.9%
[Analyst] Revisions Ratio: +20%