Full history for every metric is available with a Kvantra account
Key financial summary
Financials in GBP| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|
| Total revenue | £bn | 13.4 | 13.7 | 18.4 | 21.7 | 19.9 | 18.4 | 17.7 | 17.7 |
| Operating profit | £bn | 5.78 | 5.67 | ||||||
| Net profit | £bn | 1.26 | 1.64 | 2.35 | 7.80 | 2.29 | 2.90 | 3.24 | 3.24 |
| EPS reported | £ | 0.65 | 0.65 | ||||||
| Operating cashflow per share | £ | 1.26 | 1.25 | ||||||
| Capex per share | £ | 2.02 | 2.01 | ||||||
| FCF per share | £ | -0.76 | -0.76 | ||||||
| Free cash flow | £bn | -3.76 | -3.76 | ||||||
| Net debt | £bn | 43.9 | 43.9 | ||||||
| Book value equity | £bn | 39.3 | 39.3 | ||||||
| Book value per share | £ | 7.91 | 7.90 | ||||||
| Number of shares | m | 4,971 | 4,976.29 | ||||||
| DPS (TTM paid) | £ | 0.33 | 0.48 |
Financial summary
Financials in GBP| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | 19.53 | - | ||||||
| P/B LTM | x | 1.60 | 1.51 | ||||||
| P/S LTM | x | 3.55 | 3.35 | ||||||
| P/FCF LTM | x | -16.72 | -15.77 | ||||||
| EV/EBITDA LTM | x | 14.13 | 13.25 | ||||||
| EV/Sales LTM | x | 6.17 | 5.83 | ||||||
| Earnings Yield LTM | % | 5.12% | 5.53% | ||||||
| FCF Yield | % | -5.98% | -6.34% | ||||||
| Quality | |||||||||
| ROE | % | 8.25% | 8.47% | ||||||
| ROIC | % | 4.37% | 4.30% | ||||||
| Operating margin | % | 32.66% | 32.06% | ||||||
| Gross margin | % | 32.66% | 63.38% | ||||||
| FCF/Sales | % | -21.24% | -21.24% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | +8.33% | +8.33% | ||||||
| Sales Growth YoY | % | -3.76% | -3.76% | ||||||
| Net Income Growth YoY | % | +11.68% | +11.68% | ||||||
| FCF Growth | % | - | - | ||||||
| Operating Profit Growth | % | +17.07% | +17.07% | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | 2.58% | 4.11% | ||||||
| Dividend Growth | % | - | +3.79% | ||||||
| Payout Ratio | % | 50.23% | 50.08% | ||||||
| FCF/Debt | x | -0.08 | -0.08 | ||||||
| Net Debt/EBITDA | x | 6.00 | 5.96 | ||||||
| EBIT/Net interest | x | 4.45 | 4.37 | ||||||
| Net debt/market cap | % | 69.96% | 74.15% | ||||||
| Net debt/Equity | x | 1.12 | 1.12 | ||||||
| Gross debt/equity | x | 1.19 | 1.19 | ||||||
ETFs that hold National Grid
| Fund | Ticker | Position# | Weight |
|---|---|---|---|
| iShares Global Infrastructure UCITS ETF | IDIN.L | 9 | 2.44% |
| iShares UK Dividend UCITS ETF | IQQD.DE | 7 | 3.59% |
| VanEck - FTSE Global Infrastructure (AUD Hedged) ETF | IFRA.AX | 8 | 2.53% |
| iShares STOXX Europe 600 Utilities UCITS ETF (DE) | EXH9.DE | 2 | 11.82% |
| Xtrackers MSCI World Utilities UCITS ETF 1C | XDWU.L | 6 | 3.55% |
| State Street SPDR MSCI Europe Utilities UCITS ETF | UTIL.L | 2 | 11.68% |
| Vanguard Global Infrastructure Index ETF | VBLD.AX | 10 | 2.62% |
| iShares Global Utilities ETF | JXI | 6 | 3.64% |
| BMO Global Infrastructure Index ETF | ZGI.TO | 4 | 6.32% |
| Amundi MSCI Europe Ex EMU ESG Selection UCITS ETF Acc | CU9.PA | 10 | 2.36% |
Funds with National Grid among their ten largest holdings, largest fund first.
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
Company overview
National Grid plc operates as a major energy utility, focusing on the transmission and distribution of both electricity and natural gas. Its business is organized into distinct geographical and operational segments. Within the United Kingdom, it oversees the high-voltage electricity transmission network and related construction across England and Wales. It also handles electricity distribution for specific regions, including the Midlands, South West England, and South Wales. Furthermore, as the UK Electricity System Operator, the company plays a crucial role in balancing electricity supply and demand throughout Great Britain's transmission system and acts on behalf of other transmission operators. In the United States, its New England and New York divisions are responsible for the distribution of electricity and gas, alongside electricity transmission services, in their respective territories. Beyond these core functions, National Grid also provides cross-border electricity transmission via interconnectors, manages an LNG importation facility at the Isle of Grain, divests renewable energy projects, engages in the leasing and sale of commercial properties, and undertakes insurance activities within the UK. The company was founded in 1990 and maintains its headquarters in London, United Kingdom.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
| Fund | Ticker | Position# | Weight |
|---|---|---|---|
| iShares Global Infrastructure UCITS ETF | IDIN.L | 9 | 2.44% |
| iShares UK Dividend UCITS ETF | IQQD.DE | 7 | 3.59% |
| VanEck - FTSE Global Infrastructure (AUD Hedged) ETF | IFRA.AX | 8 | 2.53% |
| iShares STOXX Europe 600 Utilities UCITS ETF (DE) | EXH9.DE | 2 | 11.82% |
| Xtrackers MSCI World Utilities UCITS ETF 1C | XDWU.L | 6 | 3.55% |
| State Street SPDR MSCI Europe Utilities UCITS ETF | UTIL.L | 2 | 11.68% |
| Vanguard Global Infrastructure Index ETF | VBLD.AX | 10 | 2.62% |
| iShares Global Utilities ETF | JXI | 6 | 3.64% |
| BMO Global Infrastructure Index ETF | ZGI.TO | 4 | 6.32% |
| Amundi MSCI Europe Ex EMU ESG Selection UCITS ETF Acc | CU9.PA | 10 | 2.36% |
Funds with National Grid among their ten largest holdings, largest fund first.
Based on consensus from external analysts. Not Kvantra's opinion.
National Grid plc operates as a major energy utility, focusing on the transmission and distribution of both electricity and natural gas. Its business is organized into distinct geographical and operational segments. Within the United Kingdom, it oversees the high-voltage electricity transmission network and related construction across England and Wales. It also handles electricity distribution for specific regions, including the Midlands, South West England, and South Wales. Furthermore, as the UK Electricity System Operator, the company plays a crucial role in balancing electricity supply and demand throughout Great Britain's transmission system and acts on behalf of other transmission operators. In the United States, its New England and New York divisions are responsible for the distribution of electricity and gas, alongside electricity transmission services, in their respective territories. Beyond these core functions, National Grid also provides cross-border electricity transmission via interconnectors, manages an LNG importation facility at the Isle of Grain, divests renewable energy projects, engages in the leasing and sale of commercial properties, and undertakes insurance activities within the UK. The company was founded in 1990 and maintains its headquarters in London, United Kingdom.
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