National Grid PLC (NMPWP) income statement

NMPWPOTCNatural Gas TransmissionFiscal year ends March 31Also trades as NEWEN, NGG, NGGTF, NMKBP, NMKCP

Financials through fiscal 2026, year ended Mar 31, 2026Last filing: 20-F on Jun 3, 2026Score 3/30

$56.00+3.70 (+7.07%)

Close on Oct 19, 2026Market cap $58.23BP/E 12.8Yield –

National Grid PLC income statement

AnnualQuarterlyTTM

GBP USD

Millions of GBP, except per-share data. Shares in millions.

Line item	FY 2026 2026-03-31	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31	FY 2020 2020-03-31	FY 2019 2019-03-31	FY 2018 2018-03-31	FY 2017 2017-03-31	FY 2016 2016-03-31
Revenue	17,687	18,378	19,850	21,659	18,449	13,665	13,360	14,933	15,250	15,035	13,212
Research & Development	38	43	32	23	11	12	9.00	19	13	14	19
Operating Expenses	–	–	–	–	–	11,884	11,760	12,063	11,757	11,827	9,987
Operating Income	5,431	4,934	4,475	4,879	4,371	2,401	2,279	2,870	3,493	3,208	3,225
Interest Expense	1,705	1,807	1,712	1,598	1,072	853	1,020	1,157	1,009	1,140	977
Interest & Investment Income	380	450	248	138	50	58	54	88	127	53	22
Income from Equity Investments	76	73	37	171	92	58	87	40	49	63	59
Pretax Income	4,182	3,650	3,048	3,590	3,441	1,664	1,400	1,841	2,660	2,184	2,329
Income Tax Expense	939	821	831	876	1,258	360	370	339	-889	374	427
Income from Continuing Operations	3,243	2,829	2,217	2,714	2,183	1,304	1,030	1,502	3,549	1,810	1,902
Income from Discontinued Operations	0	76	74	5,083	171	337	235	12	2.00	5,984	692
Net Income incl. Noncontrolling Interests	3,243	2,905	2,291	7,797	2,354	1,641	1,265	1,514	3,551	7,794	2,594
Minority Interest in Earnings	2.00	3.00	1.00	0	–	–	–	3.00	1.00	-1.00	3.00
Net Income	3,241	2,902	2,290	7,797	2,353	1,640	1,264	1,511	3,550	7,795	2,591
Net Income to Common	3,241	2,902	2,290	7,797	2,353	1,640	1,264	1,511	3,550	7,795	2,591
EPS (Basic)(per share)	0.66	0.62	0.57	1.97	0.65	0.47	0.37	0.45	1.03	2.07	0.69
EPS (Diluted)(per share)	0.65	0.61	0.57	1.96	0.65	0.46	0.36	0.44	1.02	2.06	0.68
Shares Outstanding (Basic, Weighted)(shares)	4,946	4,707	3,991	3,956	3,599	3,523	3,461	3,386	3,461	3,763	3,774
Shares Outstanding (Diluted, Weighted)(shares)	4,971	4,729	4,008	3,973	3,616	3,540	3,478	3,401	3,476	3,780	3,790
EBITDA	–	–	–	–	–	–	–	–	5,023	4,689	4,536

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Mar 31, 2026

Profitability, FY2026

Gross margin: –
Operating margin: 30.7%
Net margin: 18.3%
Return on equity, FY2026: 8.4%

Financial strength

Current ratio: 0.76
Debt to equity: 1.19
Debt to assets: 43.2%
Cash to current liabilities: 3.8%

Valuation

P/E ratio: 12.8
Price to sales: 2.46
Price to book: 1.11
Dividend yield: –