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National Grid PLC ADR (NGG) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

UTILITIES · UTILITIES - REGULATED ELECTRIC · DATA UPDATED 2026-09-09

National Grid PLC ADR (NGG) operates in the UTILITIES - REGULATED ELECTRIC industry and is headquartered in London, United Kingdom with about 33,026 employees. Its market capitalization is roughly $77 billion. In the fiscal year ended 2026-03-31, NGG reported £18.0B in revenue and £3.3B in net income.

National Grid plc engages in the transmission and distribution of electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, New England, New York, National Grid Ventures, and Other segments.

Interactive charts & full statements → Open the NGG valuation workbench →

NGG Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31
Total Revenue	£17.8B	£18.0B	£18.4B	£19.9B	£21.7B	£18.4B	£18.4B	£13.4B	£14.9B	£15.2B	£15.0B	£13.2B	£15.2B	£14.8B	£14.4B	£13.8B	£14.3B	£14.0B	£15.7B	£11.5B	£8.8B
Gross Profit	£5.8B	£5.9B	£14.2B	£14.6B	£13.0B	£12.4B	£12.4B	£9.3B	£11.8B	£12.4B	£12.7B	£10.9B	£12.1B	£11.6B	£11.9B	£10.9B	£10.8B	£10.2B	£5.2B	£5.1B	£2.5B
Gross Margin %	32.6%	32.7%	77.4%	73.4%	60.2%	67.0%	67.0%	69.8%	78.9%	81.4%	84.1%	82.7%	79.6%	78.3%	82.9%	78.5%	75.6%	72.8%	33.1%	44.7%	28.6%
Operating Income (EBIT)	£5.8B	£5.9B	£4.9B	£4.5B	£4.9B	£4.4B	£4.4B	£2.3B	£2.9B	£3.5B	£3.2B	£3.2B	£3.8B	£3.7B	£3.7B	£3.5B	£3.7B	£3.3B	£2.6B	£2.9B	£2.5B
Operating Margin %	32.6%	32.7%	26.9%	22.5%	22.5%	23.7%	23.7%	17.1%	19.2%	22.9%	21.3%	24.4%	24.9%	25.2%	26.1%	25.6%	26.1%	23.5%	16.7%	25.1%	28.6%
Net Income	£3.3B	£3.3B	£2.9B	£2.3B	£7.8B	£2.4B	£2.4B	£1.3B	£1.5B	£3.5B	£7.8B	£2.6B	£2.0B	£2.5B	£2.2B	£1.9B	£2.2B	£1.4B	£944M	£3.2B	£1.4B
Net Margin %	18.4%	18.3%	15.8%	11.5%	36.0%	12.8%	12.8%	9.5%	10.1%	23.3%	51.8%	19.6%	13.3%	16.7%	15.0%	13.9%	15.0%	9.9%	6.0%	27.7%	15.9%
EBITDA	£7.8B	£7.9B	£7.6B	£6.8B	£7.3B	£6.4B	£6.4B	£3.8B	£4.5B	£5.3B	£4.7B	£4.6B	£5.2B	£5.4B	£5.3B	£4.9B	£6.4B	£5.6B	£5.0B	£5.2B	£4.5B
Earnings Per Share (EPS)	£3.30	£3.31	£3.07	£2.84	£9.75	£2.99	£2.99	£1.67	£2.04	£4.69	£10.34	£3.73	£2.89	£3.31	£2.88	£2.68	£3.14	£2.52	£1.72	£5.48	£2.30
Shares Outstanding (M)	995M	994M	946M	807M	800M	787M	787M	757M	740M	756M	754M	695M	699M	748M	746M	715M	688M	551M	548M	582M	607M

GBP; £M / £B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NGG Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-09-30	2025-03-31	2024-09-30	2024-03-31	2023-09-30	2023-06-30	2023-03-31
Total Revenue	£10.8B	£7.0B	£10.2B	£7.6B	£11.3B	£8.5B	—	£12.2B
Gross Profit	£4.2B	£1.6B	£3.5B	£1.2B	£3.6B	£8.5B	—	£12.2B
Gross Margin %	39.0%	22.9%	34.1%	15.2%	31.3%	100.0%	—	100.0%
Operating Income (EBIT)	£4.2B	£1.6B	£3.5B	£1.2B	£3.6B	£2.0B	—	£2.6B
Operating Margin %	39.0%	22.9%	34.1%	15.2%	31.3%	23.4%	—	21.6%
Net Income	£2.7B	£616M	£2.2B	£619M	£1.2B	£1.1B	—	£6.5B
Net Margin %	24.7%	8.7%	21.6%	8.1%	10.2%	13.3%	—	53.5%
EBITDA	£5.1B	£2.7B	£4.5B	£2.4B	£3.3B	£3.0B	—	£3.0B
Earnings Per Share (EPS)	£2.68	£0.62	£2.26	£0.68	£1.43	£1.40	—	£8.90
Shares Outstanding (M)	995M	990M	980M	909M	809M	805M	—	735M

GBP; £M / £B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NGG Free Cash Flow History

Cash flow	TTM → 2026-03-31	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31
Cash from Operations (CFO)	£6.3B	£6.3B	£5.3B	£5.6B	£6.9B	£6.3B	£4.5B	£4.6B	£3.5B	£3.5B	£4.7B	£5.0B	£4.7B	£3.1B	£3.1B	£3.5B	£3.8B	£3.7B	£2.8B	£2.5B	£2.3B
Capital Expenditures (CapEx)	£10.1B	£10.2B	£8.7B	£6.9B	£6.3B	£5.1B	£4.2B	£4.3B	£3.6B	£3.5B	£3.4B	£3.0B	£3.3B	£2.8B	£3.3B	£3.2B	£2.9B	£3.2B	£3.6B	£2.9B	£2.1B
Free Cash Flow (FCF)	(£3.8B)	(£3.8B)	(£3.4B)	(£1.3B)	£573M	£1.2B	£252M	£327M	(£95M)	£10M	£1.3B	£2.0B	£1.3B	£237M	(£214M)	£384M	£941M	£572M	(£778M)	(£364M)	£171M
FCF Margin %	-21.2%	-21.2%	-18.4%	-6.4%	2.6%	6.4%	1.4%	2.5%	-0.6%	0.1%	8.6%	15.1%	8.7%	1.6%	-1.5%	2.8%	6.6%	4.1%	-5.0%	-3.2%	1.9%
Dividends Paid	£1.6B	£1.6B	£1.5B	£1.7B	£1.6B	£922M	£1.4B	£892M	£1.2B	£4.2B	£1.5B	£1.4B	£1.4B	£1.0B	£843M	£1.0B	£832M	£723M	£973M	£785M	£708M

GBP; £M / £B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NGG Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-09-30	2025-03-31	2024-09-30	2024-03-31	2023-09-30	2023-06-30	2023-03-31
Cash from Operations (CFO)	£3.5B	£2.8B	£3.4B	£1.8B	£3.4B	£2.4B	£1.4B	£2.2B
Capital Expenditures (CapEx)	£5.6B	£4.4B	£4.7B	£3.8B	£3.7B	£3.3B	£1.6B	£1.5B
Free Cash Flow (FCF)	(£2.2B)	(£1.6B)	(£1.3B)	(£2.0B)	(£326M)	(£970M)	(£174M)	£652M
FCF Margin %	-20.1%	-23.0%	-12.2%	-26.9%	-2.9%	-11.4%	—	5.3%
Dividends Paid	£738M	£892M	£699M	£776M	£388M	£1.4B	£662M	£244M

GBP; £M / £B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NGG Balance Sheet History

Balance sheet	2026-03-31	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31
Total Assets	£108.3B	£108.3B	£106.7B	£98.3B	£92.7B	£94.9B	£67.2B	£67.6B	£63.4B	£58.8B	£65.8B	£58.9B	£55.1B	£52.4B	£54.7B	£47.3B	£46.4B	£43.6B	£44.5B	£37.8B	£28.4B
Cash & Cash Equivalents	£375M	£375M	£1.2B	£548M	£126M	£190M	£145M	£73M	£252M	£329M	£1.1B	£127M	£119M	£354M	£671M	£332M	£384M	£720M	£737M	£174M	£1.6B
Total Liabilities	£69.0B	£69.0B	£68.9B	£68.4B	£63.1B	£71.0B	£47.4B	£47.8B	£43.8B	£39.9B	£45.5B	£45.4B	£43.1B	£40.5B	£44.5B	£38.1B	£37.3B	£39.3B	£40.5B	£32.4B	£24.3B
Total Debt (Short + Long-Term)	£46.0B	£46.0B	£46.8B	£46.4B	£42.4B	£45.0B	£31.2B	£30.2B	£28.6B	£26.7B	£29.4B	£28.2B	£113.6B	£41.3B	£40.9B	£35.3B	£35.4B	£36.7B	£36.9B	£37.9B	£29.9B
Total Shareholders' Equity	£39.3B	£39.3B	£37.8B	£29.9B	£29.5B	£23.8B	£19.8B	£19.8B	£19.5B	£18.8B	£20.4B	£13.6B	£12.0B	£11.9B	£10.2B	£9.2B	£9.1B	£4.2B	£4.0B	£5.4B	£4.1B

GBP; £M / £B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive NGG viewer.

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