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National Grid plc (NGG): Financial Statements and Key Figures

National Grid plc (ticker NGG) is classified by the SEC under industry code 4922, Natural Gas Transmission, and is listed on NYSE. It files its annual report with the U.S. Securities and Exchange Commission (SEC) on Form 20-F and reports in GBP. Its fiscal 2025 ended on 31 March 2025; the annual report for that year was filed on 29 May 2025. For that year it reported revenue of GBP 18,378 million, net income of GBP 2,902 million and total assets of GBP 106,742 million at the year end. Fiscal years 2017 to 2025 are shown below.

The figures are as the company filed them, standardised by reporting tag; the filing is the authority. For education and analysis, not investment advice.

Key Figures

Money in GBP millions; earnings per share in GBP. Free cash flow is the cash from operating activities less capital expenditures. Total debt is short-term plus long-term debt, or the total the company itself tags when that is larger. A margin is the profit line divided by revenue; return on equity is net income divided by the average of shareholders' equity at the start and the end of the year. A blank cell means the company does not report the line under a standard tag; it does not mean zero.

Table 1: Key figures of National Grid plc by fiscal year
Fiscal year201720182019202020212022202320242025
year ended on31 Mar31 Mar31 Mar31 Mar31 Mar31 Mar31 Mar31 Mar31 Mar
Revenue (GBP millions)15,03515,25014,93313,36013,66518,44921,65919,85018,378
Net income (GBP millions)7,7953,5501,5111,2641,6402,3537,7972,2902,902
Earnings per share, diluted (GBP)1.910.950.410.340.430.601.960.570.61
Cash from operating activities (GBP millions)
Free cash flow (GBP millions)
Total assets (GBP millions)65,84058,78762,96367,56067,21694,86092,69798,325106,742
Total debt (GBP millions)28,63826,62528,73030,79431,22045,46542,98547,07247,539
Shareholders' equity (GBP millions)20,36818,83219,34919,77119,83923,83329,53829,86737,803
Gross margin
Operating margin21.3 %22.9 %19.2 %17.1 %17.6 %23.7 %22.5 %22.5 %26.8 %
Net margin51.8 %23.3 %10.1 %9.5 %12.0 %12.8 %36.0 %11.5 %15.8 %
Return on equity38.3 %18.1 %7.9 %6.5 %8.3 %10.8 %29.2 %7.7 %8.6 %

Last twelve months: not shown. No quarterly reports in XBRL (the company files annual, half-year or current reports only): no last-twelve-month figures, none estimated.

Charts

Figure 1: Revenue and net income by fiscal year (GBP millions)

Compound Growth

The compound annual growth rate is the single yearly rate that, applied every year, takes the first value to the last one: the last value divided by the first, raised to the power of one over the number of years, less one. It uses only the two end values, so an unusual first or last year moves it a great deal.

  • Revenue: 15,035 in fiscal 2017 to 18,378 in fiscal 2025 (GBP millions), 8 years: 2.5 % a year.
  • Diluted earnings per share: 1.91 in fiscal 2017 to 0.61 in fiscal 2025 (GBP per share), 8 years: −13.2 % a year.

Analyse This Company

Each link opens a calculator with National Grid plc loaded from the same data.

  • Company Financial Statements: The full income statement, balance sheet and cash flow statement of each fiscal year, with common-size and growth views.
  • Capital Allocation History: Where the cash from operations went each year: capital expenditures, dividends, share repurchases, debt.
  • Dividend Sustainability: How the dividends paid compare with earnings and with free cash flow, year by year.
  • Earnings Quality Trend: How much of reported earnings arrived as cash, and how accruals moved over the years.
  • Reverse DCF: The growth in free cash flow that a share price you type would assume.
  • Financial Quality Scores: The Piotroski F-score and the DuPont breakdown of return on equity, worked step by step.
  • Valuation Range: What a share price you type corresponds to as multiples of earnings, cash flow and book value, against the company's own history.

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Same Industry

The 5 other companies in the data with the industry code 4922 (Natural Gas Transmission), in alphabetical order; the index lists every company.

Source

The annual report first filed for each fiscal year, with a link to its index page on EDGAR, the SEC's filing system. A later annual report repeats earlier years for comparison and sometimes restates them; where a value was taken from a later report, the last column gives the date of the latest one used.

Table 2: The filing behind each fiscal year
Fiscal yearYear endedFormFiledOn EDGARLater report used, filed
202531 Mar 2025Form 20-F29 May 2025filing index
202431 Mar 2024Form 20-F23 May 2024filing index29 May 2025
202331 Mar 2023Form 20-F6 Jun 2023filing index29 May 2025
202231 Mar 2022Form 20-F7 Jun 2022filing index23 May 2024
202131 Mar 2021Form 20-F8 Jun 2021filing index6 Jun 2023
202031 Mar 2020Form 20-F25 Jun 2020filing index7 Jun 2022
201931 Mar 2019Form 20-F4 Jun 2019filing index8 Jun 2021
201831 Mar 2018Form 20-F4 Jun 2018filing index25 Jun 2020
201731 Mar 2017Form 20-F4 Jun 2018filing index4 Jun 2019
  • The figures are as filed with the SEC and standardised by reporting tag. The filing is the authority: check it before relying on a number.
  • A blank cell means the company does not tag that line, or the tagged figure is withheld as incomplete. It does not mean zero.
  • Currency: every figure is in the currency the company reported that year (GBP here). Nothing is converted.
  • Per-share figures are adjusted for stock splits detected from the company's own restated figures, except where a year is flagged; the as-filed values are in the filings.
  • For a bank, broker, insurer or other financial company (SIC codes 6000 to 6799) net debt, EBITDA, the current ratio and debt to equity are not meaningful and the tools show them as n/m.
  • A fiscal year is named after the calendar year in which it ends. The data is updated from time to time, not daily; this company's figures were loaded on 13 November 2026.

For education and analysis, not investment advice.