NGGNYSENatural Gas TransmissionFiscal year ends March 31Also trades as NEWEN, NGGTF, NMKBP, NMKCP, NMPWP

NATIONAL GRID PLC

Financials through fiscal 2025, year ended Mar 31, 2025Last filing: 20-F on Jun 3, 2026

$79.05−2.17 (-2.67%)

Close on Oct 19, 2026

Margins

Share of revenue, fiscal years 2016 to 2025

26.8%+9.8 pts over 5 years

15.8%+6.3 pts over 5 years

Compound annual growth to fiscal 2025

Per year	1 year	3 years	5 years	10 years
Revenue	-7.4%	-0.1%	+6.6%	–
Operating income	+10.3%	+4.1%	+16.7%	–
Net income	+26.7%	+7.2%	+18.1%	–
EPS, diluted	+7.5%	-1.9%	+11.1%	–

10 fiscal years. Hover a measure to see how it is calculated.

Measure	FY2016	FY2020	FY2025
Return on equity	–	6.4%	8.6%
Return on assets	–	1.9%	2.8%
Current ratio	–	0.68	1.35
Debt to equity	–	1.56	1.26
Net debt to EBITDA	–	–	–
Interest coverage	3.3×	2.2×	2.7×
Capex to revenue	21.6%	32.1%	47.8%
Diluted shares	3.79B	3.48B	4.73B

Return on equity split into margin, efficiency and leverage

Net margin15.8%

Asset turnover0.18×

Equity multiplier3.03×

Return on equity, FY20258.6%

Fiscal year	Net margin	Asset turnover	Equity multiplier	Return on equity
FY2025	15.8%	0.18×	3.03×	8.6%
FY2024	11.5%	0.21×	3.22×	7.7%
FY2023	36.0%	0.23×	3.51×	29.2%
FY2022	12.8%	0.23×	3.71×	10.8%
FY2021	12.0%	0.20×	3.40×	8.3%
FY2020	9.5%	0.20×	3.33×	6.4%
FY2019	10.1%	0.24×	3.18×	7.8%
FY2018	23.3%	0.24×	3.17×	18.0%

Parsed from the XBRL in National Grid's annual and quarterly filings with the SEC
Fourth quarters derived from the annual report minus nine months
Every figure in the statements links to its source filing

Trailing twelve months. Peers are matched on business description, industry and size. Ticks are peers, the dot is NGG.

Revenue growth-7.4% · median 7.8%

Operating margin26.8% · median 26.0%

Net margin15.8% · median 16.4%

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