NGG
National Grid PLC
$82.08
▼ 0.4%Updated Today 3:42 PM ET
NGG at a glance — five pillars scored 0–100 from real filed financials.
Overall: Neutral · 46/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
▲ Up 15.0% over the last 12 months
Market Cap
$78.61B
P/E
18.88x
Forward P/E (est.)
17.43x
ROE
8.5%
Revenue Growth
-6.2%
EPS Growth
8.3%
Profit Margin
25.1%
FCF Yield
1.6%
Debt / Equity
1.19x
ROIC
5.0%
Interest Coverage
2.73x
Current Ratio
0.97x
Dividend Yield
3.9%
Implied Growth (rev. DCF)
—
Rating Score
46/100
National Grid PLC (NGG) is a large-cap company in the Utilities industry, part of the Utilities sector of the S&P 500, with a market value around $78.61B.
In its latest reported year it generated about $23.34B in revenue and $3.69B in net profit.
Our model rates NGG Neutral (46/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Evidence of durable competitive advantage in the filed financials (10 years of history).
The numbers don't show a durable competitive advantage — margins, growth, or returns on capital have been unstable or thin. Great returns are still possible; they just aren't protected.
24.0% average over the last 3 years
±2.9 pts around 21.8% across 10 years
grew in 5 of the last 9 year-over-year periods
positive in 7 of 10 years
5.0% latest fiscal year
A moat can't be proven by numbers alone — this scores the evidence a durable advantage leaves behind (pricing power, consistency, returns on capital), computed the same way for every stock. Pair it with the business overview before concluding anything.
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what NGG's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. NGG trades near $82.08, around its 50-day average ($84.02) and 200-day average ($81.68). Price tangled in its moving averages means there is no clear trend — the stock is ranging.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 52 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently positive — short-term momentum is improving.
Volatility — ATR. Average True Range is the typical daily move. NGG's is $1.61 (~2.0% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month NGG found buyers near $78.76 (support) and sellers near $84.10 (resistance); its 52-week range is $67.52–$94.64. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 0.5× the 20-day average — lighter than usual, so the move carries less conviction. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
4Y CAGR
7.7%
Revenue moved from $16.78B in 2016 to $23.34B in 2025, a 3.7% compound annual growth rate. The most recent year declined 6.2% year over year. Shrinking revenue is worth a closer look — is it cyclical or structural?
Gross Margin
—
Operating Margin
26.8%
Net Margin
15.8%
ROE
8.5%
National Grid PLC keeps about 25.1% of each sales dollar as net profit. Return on equity is 8.5% and return on invested capital about 5.0%. Margins this wide usually signal pricing power or a cost advantage.
Total Debt
$53.71B
Net Debt
$52.58B
Net Debt / EBITDA
8.39x
Debt / Equity
1.19x
Leverage: debt-to-equity is 1.2x, and operating profit covers interest about 2.7x, with a current ratio of 1.0x. That is a moderate, manageable debt load for most businesses. It carries roughly $53.71B of total debt against $1.13B of cash.
Operating CF
$8.65B
Free Cash Flow
-$2.50B
FCF Margin
-10.7%
In the latest year National Grid PLC produced about $8.65B of operating cash flow but negative free cash flow as it invested heavily. That is a free-cash-flow yield of about 1.6% on today's price. Cash flow is what ultimately pays shareholders, so it is worth tracking over time.
Can the payout survive a bad year? Scored from filed cash flow, earnings coverage, and the raise/cut record.
Coverage is weak, the payout was cut recently, or it's being financed rather than earned — treat the current yield as fragile.
Dividend yield
3.9%
Per share (latest FY)
$0.70
Total paid (latest FY)
$1.94B
History on record
10 years
free cash flow was negative in the latest year — the dividend is being financed
53% of net income paid out
no current raise streak
payout was cut at least once in the last 10 years
Coverage uses the latest fiscal year as filed with the SEC; the streak counts total dollars paid (per-share figures can carry split artifacts). Educational information, not income advice.
P/E
18.88x
P/S
3.46x
P/B
1.61x
EV / EBITDA
15.98x
NGG trades at 18.9x trailing earnings (about 17.4x on estimated forward earnings), 3.5x sales, and 1.6x book value. That is a fairly typical valuation for a profitable company.
Where NGG sits versus its Utilities sector peers in the S&P 500.
Bands show the middle half (25th–75th percentile) of the 38 Utilities companies in the S&P 500 — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
How NGG stacks up against its Utilities peers — valuation, profitability, and growth versus the sector median.
In the Utilities sector (47 S&P 500 companies), NGG ranks #31 of 47 by our overall rating. It trades at roughly in line versus the sector on earnings (18.9x P/E vs. 21.9x median) with a lower return on equity (8.5% vs. 10.3%) and slower revenue growth (-6.2% vs. 8.8%).
P/E vs sector
18.9x
median 21.9x
ROE vs sector
8.5%
median 10.3%
Growth vs sector
-6.2%
median 8.8%
Sector rank
#31
of 47 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Utilities companies by sub-industry and size. Sector median is across all 47 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$0.00 – $0.00
vs. $82.08 today · expected CAGR -10% – 1%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $24.04B | $24.76B | $25.50B | $26.27B | $27.06B |
| Net income | $3.85B | $3.96B | $4.08B | $4.20B | $4.33B |
| EPS | $4.02 | $4.14 | $4.26 | $4.39 | $4.52 |
| Share price (low) | $44.18 | $45.50 | $46.87 | $48.27 | $49.72 |
| Share price (high) | $76.31 | $78.59 | $80.95 | $83.38 | $85.88 |
| CAGR (low–high) | -46% / -7% | -26% / -2% | -17% / -0% | -12% / 0% | -10% / 1% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for NGG:
- High net margins (25.1%) point to pricing power or efficiency.
- Pays a 3.9% dividend on top of any price gains.
The case against NGG:
- Revenue growth is slow/negative (-6.2%), limiting the upside engine.
- Interest coverage is thin (2.7x), so debt costs bite.
Balance-sheet risk — debt/equity of 1.2x magnifies the impact of higher rates or weaker earnings.
Growth risk — sluggish revenue (-6.2%) leaves little margin for execution missteps.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the picture is mixed: National Grid PLC is a large-cap utilities business with shrinking revenue, with solid profitability, and a heavier debt load to watch. It trades at 18.9x earnings, which our model scores Neutral (46/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Analyst Ratings
What 23 Wall Street analysts covering NGG recommend (July 2026). Consensus is a useful sanity check — not a substitute for your own homework.
Analysts have turned more cautious over the last three months (-6 pts of buy ratings).
Latest SEC Filings
NGG's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen.
NGG — frequently asked questions
Is NGG a good stock to buy?
We don't give buy or sell advice. Our model rates National Grid PLC Neutral (46/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is NGG's rating on The Stocks School?
National Grid PLC currently scores 46/100 (Neutral) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does NGG's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from National Grid PLC's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for NGG calculated?
It's a scenario model: it grows revenue at an assumed rate, applies a profit margin and a valuation multiple, and shows the resulting share-price range. The assumptions are yours to change — it's a tool for thinking, not a prediction.
Is this NGG analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell NGG. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.