National Grid/£NG

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About National Grid

National Grid owns and operates the electric transmission system in England and Wales. It sold the bulk of its UK gas transmission business in fiscal 2023 to fund the acquisition of PPL's UK power distribution assets. In the Northeastern United States, it serves electricity and gas customers combined in three states. It also owns regulated transmission and electricity generation in the United States, metering services, merchant transmission lines in the UK, and the Grain (UK) liquefied natural gas facility.

Ticker

£NG
Sector

Primary listing

LSE

Employees

31,654

National Grid Metrics

BasicAdvanced
£51B
16.85
£0.61
0.30
£0.47
4.51%

What the Analysts think about National Grid

Analyst ratings (Buy, Hold, Sell) for National Grid stock.

Bulls say / Bears say

National Grid reported adjusted operating profit of £5.36 billion for the year ending March 31, beating analyst expectations of £5.29 billion, driven by solid performance in UK transmission and U.S. New York operations.
The company confirmed it will invest £60 billion in energy networks through March 2029, supporting a clear long-term capital expenditure plan to drive grid decarbonisation and asset growth.
National Grid submitted a three-year rate plan to the New York Public Service Commission, proposing a 9.5% return on equity and $1.43 billion in up-front electricity infrastructure investments, boosting revenue visibility in its U.S. regulated operations.
National Grid took a £303 million impairment charge on its Community Offshore Wind joint venture in New York, which highlights policy uncertainty in the U.S. offshore wind sector and a major write-down of project value.
National Grid's Upstate New York rate plan proposes phased electricity bill increases of $14.32 in the first year, with further rises planned over the following two years, raising concerns about customer resistance and regulatory risk due to higher rates.
Ofgem’s recent approval of a £24 billion infrastructure upgrade package limits permitted returns to 6%, which is significantly lower than National Grid’s current group ROE of about 9%, pointing to possible margin pressure in the next UK price control cycle.
Data summarised monthly by Lightyear AI. Last updated on 31 Aug 2025.

National Grid Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

National Grid Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.

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