NGG

National Grid Transco PLC National Grid PLC (NEW) American Depositary SharesStock · Utilities

$80.41+$0.15 (+0.19%)as of market close, Aug 6, 2026

NGG financial statements

The full income statement, balance sheet, and cash-flow statement for National Grid Transco PLC National Grid PLC (NEW) American Depositary Shares (NGG), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2018-03 3.48B2019-03 3.40B2020-03 3.48B2021-03 3.54B2022-03 3.62B2023-03 3.93B2024-03 3.97B2025-03 4.73B2026-03 4.97B+43.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2026	FY2025	FY2024	FY2023	FY2022
Income Statement	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
Revenue	23.7B YoY+1.2%	23.4B YoY-6.0%	24.9B YoY-4.4%	26.1B YoY+3.5%	25.2B YoY+41.3%
Research & development	50.9M YoY-7.1%	54.8M YoY+36.4%	40.2M YoY+45.2%	27.7M YoY+84.3%	15.0M YoY-4.1%
Operating income	7.28B YoY+15.7%	6.29B YoY+11.9%	5.62B YoY-4.3%	5.88B YoY-1.6%	5.97B YoY+90.5%
Interest expense	2.29B YoY-0.8%	2.30B YoY+7.1%	2.15B YoY+11.8%	1.92B YoY+31.4%	1.46B YoY+31.5%
Pre-tax income	5.61B YoY+20.4%	4.66B YoY+21.5%	3.83B YoY-11.4%	4.32B YoY-8.0%	4.70B YoY+116.4%
Income tax	1.26B YoY+20.2%	1.05B YoY+0.3%	1.04B YoY-1.0%	1.06B YoY-38.6%	1.72B YoY+265.7%
	4.35B YoY+17.3%	3.71B YoY+28.7%	2.88B YoY-69.3%	9.39B YoY+192.0%	3.22B YoY+50.1%
Net income to common	4.34B YoY+17.4%	3.70B YoY+28.6%	2.88B YoY-69.4%	9.39B YoY+192.1%	3.22B YoY+50.1%
	$0.87 YoY+11.6%	$0.78 YoY+9.1%	$0.72 YoY-69.6%	$2.36 YoY+166.1%	$0.89 YoY+46.9%
EPS (basic)	$0.88 YoY+11.8%	$0.79 YoY+8.9%	$0.72 YoY-69.6%	$2.37 YoY+165.7%	$0.89 YoY+46.9%
	4.95B YoY+5.1%	4.71B YoY+17.9%	3.99B YoY+0.9%	3.96B YoY+9.9%	3.60B YoY+2.2%
	4.97B YoY+5.1%	4.73B YoY+18.0%	4.01B YoY+0.9%	3.97B YoY+9.9%	3.62B YoY+2.1%
Dividends per share	$0.63 YoY-9.7%	$0.70 YoY-2.1%	$0.72 YoY+15.3%	$0.62 YoY-7.9%	$0.67 YoY+5.4%
Balance Sheet	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
	9.91B YoY-46.6%	18.6B YoY+41.6%	13.1B YoY+16.8%	11.2B YoY-52.3%	23.5B YoY+71.8%
Cash & equivalents	496M YoY-67.5%	1.53B YoY+116.2%	706M YoY+251.7%	201M YoY-24.9%	267M YoY+23.5%
Accounts receivable	5.12B YoY-3.4%	5.30B YoY+22.9%	4.31B YoY-8.6%	4.72B YoY-3.0%	4.86B YoY+21.0%
Inventory	740M YoY+2.6%	721M YoY-31.0%	1.05B YoY-3.1%	1.08B YoY+61.2%	669M YoY+10.6%
	143B YoY+3.7%	138B YoY+11.4%	124B YoY+8.8%	114B YoY-8.1%	124B YoY+34.1%
Property, plant & equipment	—	—	—	79.3B YoY+5.3%	75.3B YoY+16.2%
Goodwill	12.5B YoY+1.0%	12.3B YoY+0.5%	12.3B YoY+1.3%	12.1B YoY-2.9%	12.5B YoY+97.5%
Total non-current assets	133B YoY+11.5%	120B YoY+7.8%	111B YoY+7.9%	103B YoY+2.2%	101B YoY+27.6%
	13.0B YoY-5.7%	13.8B YoY-4.3%	14.4B YoY+27.9%	11.2B YoY-65.3%	32.4B YoY+151.3%
Short-term & current debt	3.68B YoY+55.4%	2.37B YoY-34.0%	3.59B YoY+77.8%	2.02B YoY-11.2%	2.27B YoY-17.0%
	91.3B YoY+2.2%	89.3B YoY+3.3%	86.4B YoY+11.1%	77.7B YoY-16.4%	93.0B YoY+42.5%
Long-term debt	54.4B YoY+4.0%	52.2B YoY+5.8%	49.4B YoY+8.8%	45.4B YoY+13.0%	40.2B YoY+20.5%
	52.0B YoY+6.2%	49.0B YoY+29.8%	37.7B YoY+3.7%	36.4B YoY+16.6%	31.2B YoY+14.2%
Total equity incl. non-controlling	52.1B YoY+6.3%	49.0B YoY+29.8%	37.7B YoY+3.7%	36.4B YoY+16.5%	31.2B YoY+14.2%
	5.20B YoY+1.3%	5.13B YoY+29.4%	3.97B YoY+0.9%	3.93B YoY+0.7%	3.90B YoY+2.3%
Cash Flow	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
Long-term debt issued	5.59B YoY+35.5%	4.13B YoY-40.9%	6.99B YoY-51.3%	14.3B YoY-15.0%	16.9B YoY+150.9%
Long-term debt repaid	3.97B YoY+8.8%	3.65B YoY+70.7%	2.14B YoY-88.4%	18.4B YoY+966.7%	1.72B YoY-20.2%
Common stock issued	2.68M YoY-58.0%	6.38M YoY+153.7%	2.51M YoY-58.3%	6.02M YoY-72.5%	21.9M
Dividends paid	2.18B YoY+11.6%	1.95B YoY-9.7%	2.16B YoY+11.5%	1.94B YoY+53.6%	1.26B YoY-31.7%
Valuation Ratios	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
Market cap	421B YoY+35.5%	310B YoY+15.7%	268B YoY+0.3%	267B YoY-3.9%	278B YoY+32.5%
P/E	96.7× YoY+15.5%	83.7× YoY+193.3%	28.6× YoY+0.3%	28.5× YoY-67.1%	86.4× YoY-11.7%
P/S	17.7× YoY+34.0%	13.2× YoY+28.8%	10.3× YoY+0.3%	10.2× YoY-7.1%	11.0× YoY-6.2%
P/B	8.1× YoY+27.6%	6.3× YoY-14.0%	7.4× YoY+0.3%	7.3× YoY-17.5%	8.9× YoY+16.1%
	1.0% YoY-13.4%	1.2% YoY-65.9%	3.5% YoY-0.3%	3.5% YoY+203.7%	1.2% YoY+13.3%
	0.75% YoY-30.0%	1.1% YoY+1.8%	1.1% YoY+14.9%	0.91% YoY+4.2%	0.88% YoY-18.7%
Source filing	20-F	20-F	20-F	20-F	20-F

About this data

Source: NGG's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all NGG filings on SEC EDGAR → Not investment advice.