Revenue
5Y CAGR +5.9%10Y CAGR +1.8%$23.7B FY26
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
No quarters filed for this figure.
NGG
$85.22+2.89%
as of close, Nov 4, 2026
☾ AH $85.22 +2.89%
National Grid Transco PLC National Grid PLC (NEW) American Depositary SharesStock · Utilities
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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.
Financial overview#
Operating income
5Y CAGR +18.4%5Y CAGR +18.4%$7.3B FY26
FY18FY19FY20FY21FY22FY23FY24FY25FY26
No quarters filed for this figure.
Net income
5Y CAGR +15.2%10Y CAGR +1.1%$4.3B FY26
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
No quarters filed for this figure.
EPS (diluted)
5Y CAGR +7.7%10Y CAGR −1.6%$4.37 FY26
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
No quarters filed for this figure.
Capital expenditure
5Y CAGR +15.5%5Y CAGR +15.5%— FY26
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
No quarters filed for this figure.
Shares (diluted)
5Y +40.4%10Y +31.2%994.2M FY26
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
No quarters filed for this figure.
Dividend per share
5Y CAGR −0.2%10Y CAGR −37.1%$3.17 FY26
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
No quarters filed for this figure.
Shares outstanding (point-in-time)
2018-03 695.2M2019-03 680.2M2020-03 695.6M2021-03 708.0M2022-03 723.2M2023-03 786.1M2024-03 793.4M2025-03 945.8M2026-03 994.2M+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.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | 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+1.1% | 23.4B-6.0% | 24.9B-4.4% | 26.1B+3.5% | 25.2B+41.3% | |
| Research & development | 50.9M-7.1% | 54.9M+36.4% | 40.2M+45.1% | 27.7M+84.4% | 15.0M-4.1% | |
| Operating income | 7.28B+15.7% | 6.29B+11.9% | 5.62B-4.3% | 5.88B-1.6% | 5.97B+90.5% | |
| Interest expense | 2.29B-0.8% | 2.31B+7.1% | 2.15B+11.8% | 1.93B+31.4% | 1.46B+31.5% | |
| Pre-tax income | 5.61B+20.4% | 4.66B+21.6% | 3.83B-11.4% | 4.32B-8.0% | 4.70B+116.4% | |
| Income tax | 1.26B+20.2% | 1.05B+0.3% | 1.04B-1.0% | 1.06B-38.6% | 1.72B+265.7% | |
| 4.35B+17.3% | 3.71B+28.7% | 2.88B-69.3% | 9.39B+192.1% | 3.22B+50.1% | ||
| Net income to common | 4.34B+17.4% | 3.70B+28.6% | 2.88B-69.4% | 9.39B+192.2% | 3.21B+50.1% | |
| $4.37+11.6% | $3.92+9.2% | $3.59-69.6% | $11.82+166.2% | $4.44+46.9% | ||
| EPS (basic) | $4.39+11.7% | $3.93+8.9% | $3.61-69.6% | $11.87+165.7% | $4.47+46.9% | |
| Weighted-avg shares (basic) | 989M+5.1% | 941M+17.9% | 798M+0.9% | 791M+9.9% | 720M+2.2% | |
| Weighted-avg shares (diluted) | 994M+5.1% | 946M+18.0% | 802M+0.9% | 795M+9.9% | 723M+2.1% | |
| Dividends per share | $3.17-9.7% | $3.51-2.1% | $3.58+15.2% | $3.11-7.8% | $3.37+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-46.6% | 18.5B+41.5% | 13.1B+16.1% | 11.3B-52.2% | 23.6B+72.8% | ||
| Cash & equivalents | 496M-67.4% | 1.52B+115.9% | 706M+249.6% | 202M-24.7% | 268M+24.2% | |
| Accounts receivable | 5.12B-3.3% | 5.29B+22.8% | 4.31B-9.1% | 4.74B-2.8% | 4.88B+21.6% | |
| Inventory | 740M+2.7% | 721M-31.1% | 1.05B-3.7% | 1.09B+61.6% | 671M+11.3% | |
| 143B+3.8% | 138B+11.2% | 124B+8.1% | 115B-7.9% | 125B+34.9% | ||
| Property, plant & equipment | — | — | — | 79.8B+5.6% | 75.6B+16.9% | |
| Goodwill | 12.5B+1.1% | 12.3B+0.4% | 12.3B+0.7% | 12.2B-2.6% | 12.5B+98.6% | |
| Total non-current assets | 133B+11.6% | 120B+7.7% | 111B+7.2% | 104B+2.5% | 101B+28.3% | |
| 13.0B-5.6% | 13.7B-4.4% | 14.4B+27.1% | 11.3B-65.2% | 32.5B+152.7% | ||
| Short-term & current debt | 3.68B+55.6% | 2.37B-34.1% | 3.59B+76.8% | 2.03B-11.0% | 2.28B-16.5% | |
| 91.3B+2.4% | 89.2B+3.2% | 86.4B+10.5% | 78.2B-16.2% | 93.3B+43.3% | ||
| Long-term debt | 56.7B+2.2% | 55.5B+4.1% | 53.3B+7.5% | 49.6B+13.2% | 43.8B+16.0% | |
| 52.0B+6.4% | 48.9B+29.7% | 37.7B+3.1% | 36.6B+16.8% | 31.3B+14.8% | ||
| Total equity incl. non-controlling | 52.1B+6.4% | 48.9B+29.7% | 37.7B+3.1% | 36.6B+16.8% | 31.3B+14.8% | |
| Shares outstanding (cover) | 1.04B+1.3% | 1.03B+29.4% | 793M+0.9% | 786M+0.7% | 781M+2.3% | |
| Cash Flow | as ofMar 31 ’26 | as ofMar 31 ’25 | as ofMar 31 ’24 | as ofMar 31 ’23 | as ofMar 31 ’22 | |
| Capital expenditure | — | 11.2B+29.1% | 8.68B+13.9% | 7.62B+9.4% | 6.96B+26.7% | |
| Long-term debt issued | 5.59B+35.4% | 4.13B-40.9% | 6.99B-51.3% | 14.3B-15.0% | 16.9B+150.9% | |
| Long-term debt repaid | 3.97B+8.8% | 3.65B+70.7% | 2.14B-88.4% | 18.4B+967.1% | 1.72B-20.2% | |
| Common stock issued | 2.68M-58.0% | 6.38M+153.8% | 2.51M-58.3% | 6.02M-72.4% | 21.9M | |
| Dividends paid | 2.18B+11.5% | 1.95B-9.7% | 2.16B+11.5% | 1.94B+53.7% | 1.26B-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 | 84.1B+35.5% | 62.1B+15.7% | 53.6B+0.3% | 53.4B-3.9% | 55.6B+32.5% | |
| P/E | 19.3×+15.5% | 16.7×+193.3% | 5.7×+0.3% | 5.7×-67.1% | 17.3×-11.7% | |
| P/S | 3.5×+34.0% | 2.6×+28.8% | 2.1×+0.3% | 2.0×-7.1% | 2.2×-6.2% | |
| P/B | 1.6×+27.4% | 1.3×-13.4% | 1.5×+0.3% | 1.5×-17.7% | 1.8×+15.4% | |
| Earnings yield | 5.2%-13.4% | 6.0%-65.9% | 17.5%-0.3% | 17.6%+203.8% | 5.8%+13.3% | |
| Dividend yield | 3.7%-30.0% | 5.3%+1.8% | 5.2%+14.8% | 4.6%+4.2% | 4.4%-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.
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