National Grid (NG.L) Stock Price

National Grid Price

🇬🇧LSE·CLOSED
0.12GBP
Market closed
Today +/-
Today %

National Grid (NG.L) Stock | ISIN GB00BDR05C01 | WKN A2DQWX. The current National Grid stock price is 0.12 GBP (2026). Revenue is 18.2 B GBP. Net income is 3.78 B GBP. The P/E ratio is 0.15. Market capitalization is 566.06 M GBP. National Grid operates in the Utilities sector.

National Grid stock price

Ex-Dividend
Details

Stock Price

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How to Read This Chart

This chart tracks the historical stock price of National Grid over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how National Grid stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing National Grid's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

National Grid Stock Price History
DateNational Grid Price
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National Grid Revenue, EBIT, Net Income

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Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2006
8.87 B GBP
2.37 B GBP
3.85 B GBP
Jan 1, 2007
8.7 B GBP
2.51 B GBP
1.39 B GBP
Jan 1, 2008
11.5 B GBP
2.96 B GBP
3.19 B GBP
Jan 1, 2009
15.69 B GBP
2.62 B GBP
944 M GBP
Jan 1, 2010
14.01 B GBP
3.29 B GBP
1.39 B GBP
Jan 1, 2011
14.34 B GBP
3.75 B GBP
2.16 B GBP
Jan 1, 2012
13.83 B GBP
3.54 B GBP
1.92 B GBP
Jan 1, 2013
14.36 B GBP
3.75 B GBP
2.15 B GBP
Jan 1, 2014
14.81 B GBP
3.74 B GBP
2.48 B GBP
Jan 1, 2015
13.36 B GBP
2.95 B GBP
2.02 B GBP
Jan 1, 2016
13.21 B GBP
3.23 B GBP
2.59 B GBP
Jan 1, 2017
15.04 B GBP
3.77 B GBP
7.8 B GBP
Jan 1, 2018
15.25 B GBP
3.46 B GBP
3.55 B GBP
Jan 1, 2019
14.93 B GBP
3.44 B GBP
1.51 B GBP
Jan 1, 2020
14.54 B GBP
3.42 B GBP
1.26 B GBP

National Grid Income Statement, Balance Sheet, Cash Flow Statement

Last updated Jun 10, 2026, 12:37 PM
 
REVENUE (M GBP)
REVENUE GROWTH (%)
GROSS MARGIN (%)
GROSS INCOME (M GBP)
NET INCOME (M GBP)
NET INCOME GROWTH (%)
DIV. (GBP)
DIV. GROWTH (%)
SHARES (M)
DOCUMENTS
Details

Income Statement Key Figures

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Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales National Grid generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue National Grid retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare National Grid's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares National Grid has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against National Grid's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

National Grid stock margins

The National Grid margin analysis displays the gross margin, EBIT margin, as well as the profit margin of National Grid. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for National Grid.

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Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2006
71.32 %
26.77 %
43.39 %
Jan 1, 2007
74.42 %
28.9 %
16.03 %
Jan 1, 2008
70.74 %
25.78 %
27.74 %
Jan 1, 2009
63.1 %
16.72 %
6.02 %
Jan 1, 2010
69.37 %
23.51 %
9.9 %
Jan 1, 2011
72.44 %
26.11 %
15.05 %
Jan 1, 2012
75.77 %
25.56 %
13.86 %
Jan 1, 2013
80.05 %
26.11 %
14.99 %
Jan 1, 2014
75.28 %
25.22 %
16.72 %
Jan 1, 2015
74.95 %
22.09 %
15.12 %
Jan 1, 2016
80.68 %
24.41 %
19.61 %
Jan 1, 2017
82.17 %
25.09 %
51.85 %
Jan 1, 2018
78.98 %
22.67 %
23.28 %
Jan 1, 2019
76.14 %
23.05 %
10.12 %
Jan 1, 2020
79.9 %
23.55 %
8.69 %

National Grid Stock Revenue, EBIT, Earnings per Share

The National Grid earnings per share therefore indicates how much revenue National Grid has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.

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Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2006
2.54 GBP
0.68 GBP
1.1 GBP
Jan 1, 2007
2.6 GBP
0.75 GBP
0.42 GBP
Jan 1, 2008
3.54 GBP
0.91 GBP
0.98 GBP
Jan 1, 2009
4.91 GBP
0.82 GBP
0.3 GBP
Jan 1, 2010
4.43 GBP
1.04 GBP
0.44 GBP
Jan 1, 2011
3.84 GBP
1 GBP
0.58 GBP
Jan 1, 2012
3.37 GBP
0.86 GBP
0.47 GBP
Jan 1, 2013
3.46 GBP
0.9 GBP
0.52 GBP
Jan 1, 2014
3.56 GBP
0.9 GBP
0.59 GBP
Jan 1, 2015
3.17 GBP
0.7 GBP
0.48 GBP
Jan 1, 2016
3.17 GBP
0.77 GBP
0.62 GBP
Jan 1, 2017
3.62 GBP
0.91 GBP
1.88 GBP
Jan 1, 2018
3.66 GBP
0.83 GBP
0.85 GBP
Jan 1, 2019
3.66 GBP
0.84 GBP
0.37 GBP
Jan 1, 2020
3.49 GBP
0.82 GBP
0.3 GBP

National Grid business model & stock analysis

National Grid is one of the largest electricity and gas companies in the UK and North America. The company's history dates back to the 18th century when gas supply began in England. Since then, National Grid has become a major player in the energy industry and is now a multinational corporation with over 23,000 employees worldwide. The company's business model is to ensure reliable and efficient energy supply. National Grid operates in three main areas: electricity transmission, gas transmission, and electricity distribution. The electricity transmission division includes operating the high-voltage electricity network in England and Wales, as well as the HVDC network connecting Britain to continental Europe. In North America, National Grid is one of the largest operators of transmission networks connecting multiple states in the USA. In the gas transmission division, National Grid operates the gas network in the UK, transporting gas from production facilities to consumers. Here too, the company is an important player, ensuring reliable and efficient energy supply. In North America, National Grid operates the gas network in several cities, including New York City and Boston. National Grid's electricity distribution division is responsible for distributing electricity to households and businesses. The company ensures safe and efficient electricity flow and continuously invests in renewable energy. National Grid also operates several energy storage systems, which play a vital role in integrating renewable energy into the grid. In addition to the main divisions, National Grid also has various subsidiaries and investments in the renewable energy, power generation, and energy management sectors. The company is committed to driving the transition to sustainable energy supply and actively invests in renewable energy sources such as wind, solar, and hydro power. As an energy company, National Grid also offers various products and services to its customers. These include services such as energy consulting, energy efficiency programs, and smart home solutions. The company also offers various electricity and gas tariffs that can be customized based on customer needs. Overall, National Grid is a key player in the energy industry, ensuring reliable and efficient energy supply. The company continues to invest in renewable energy sources and drives the transition to sustainable energy supply. With its various divisions and subsidiaries, National Grid is well-positioned to continue playing a leading role in the energy industry in the future.

National Grid SWOT Analysis

Strengths

National Grid PLC has several strengths that contribute to its success in the market. These strengths include:

  • 1. Extensive Infrastructure: National Grid operates a vast network of transmission and distribution assets, giving them a significant advantage in delivering electricity and gas to consumers.
  • 2. Strong Market Position: The company holds a dominant market share in the regions it operates, enhancing its bargaining power and ability to influence industry standards.
  • 3. Robust Regulatory Framework: National Grid benefits from a regulatory framework that provides stable revenue streams and incentives for investment in infrastructure development.
  • 4. Diverse Energy Portfolio: The company has diversified its energy sources, reducing its dependency on a single fuel type and ensuring a more resilient and sustainable energy mix.

Weaknesses

Despite its strengths, National Grid PLC also faces certain weaknesses that pose challenges to its operations and growth:

  • 1. Aging Infrastructure: Some of National Grid's infrastructure is aging, requiring significant investments for modernization and maintenance, which can strain financial resources.
  • 2. Vulnerability to Regulations: Changes in regulatory policies and guidelines can have a direct impact on National Grid's operations and profitability, potentially restricting its flexibility.
  • 3. Dependency on Fossil Fuels: While National Grid has diversified its energy portfolio, it still relies heavily on fossil fuels, which exposes the company to price volatility and potential environmental concerns.

Opportunities

National Grid PLC can take advantage of several opportunities to further enhance its market position and profitability:

  • 1. Expansion into Renewable Energy: Investing in renewable energy sources, such as wind and solar, can help National Grid reduce its carbon footprint and tap into the growing demand for clean energy.
  • 2. Smart Grid Implementation: Embracing smart grid technologies can enhance operational efficiency, reduce costs, and improve consumer experience by offering real-time energy management and demand-response capabilities.
  • 3. International Expansion: National Grid can consider expanding its operations into new markets or acquiring assets in countries with favorable regulatory environments, diversifying and expanding its revenue streams.

Threats

National Grid PLC faces certain threats that could impact its future performance and stability:

  • 1. Increased Competition: The liberalization of energy markets and the entry of new players pose a threat to National Grid's market dominance, potentially reducing its market share and pricing power.
  • 2. Climate Change and Environmental Regulations: Stricter environmental regulations aimed at reducing carbon emissions and promoting renewable energy could increase National Grid's compliance costs and require further investments in cleaner technologies.
  • 3. Cybersecurity Risks: The increasing reliance on digital technologies exposes National Grid to cybersecurity threats, such as data breaches or operational disruptions, which could compromise the integrity of its systems and customer trust.

National Grid Eulerpool Fair Value

National Grid historical P/E ratio, EBIT multiple, and P/S ratio

National Grid annual returns

Details

Annual Return

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What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

National Grid shares outstanding

The number of shares was National Grid in 2025 — This indicates how many shares 4.729 B is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.

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Number of stocks
Details
Date
Number of stocks
Jan 1, 2006
3.49 B base_Shares
Jan 1, 2007
3.35 B base_Shares
Jan 1, 2008
3.25 B base_Shares
Jan 1, 2009
3.19 B base_Shares
Jan 1, 2010
3.16 B base_Shares
Jan 1, 2011
3.73 B base_Shares
Jan 1, 2012
4.11 B base_Shares
Jan 1, 2013
4.15 B base_Shares
Jan 1, 2014
4.16 B base_Shares
Jan 1, 2015
4.22 B base_Shares
Jan 1, 2016
4.17 B base_Shares
Jan 1, 2017
4.16 B base_Shares
Jan 1, 2018
4.17 B base_Shares
Jan 1, 2019
4.08 B base_Shares
Jan 1, 2020
4.17 B base_Shares

National Grid Dividend History

30 years of dividend payments

YearAnnual DividendYoY ChangePayments
20250.47GBP↓ 14.1%2×
May 29, 20250.31GBP↑ 94.9%1/2
Nov 20, 20250.16GBP↓ 47.1%2/2
20240.55GBP↓ 3.6%2×
20230.57GBP↑ 10.5%2×
20220.52GBP↑ 4.5%2×
20210.49GBP↑ 0.8%2×
20200.49GBP↑ 2.4%2×
20190.48GBP↑ 2.8%2×
20180.47GBP↓ 63.9%2×
20171.29GBP↑ 196.4%3×
20160.44GBP↓ 9.3%2×

National Grid dividend history and estimates

In 2025, National Grid paid a dividend amounting to 0.47 GBP. Dividend means that National Grid distributes a portion of its profits to its owners.

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Dividend
Dividend (Estimate)
Special dividend
Details
Date
Dividend
Dividend (Estimate)
Special dividend
Jan 1, 2006
0.3 GBP
0 GBP
0 GBP
Jan 1, 2007
0.33 GBP
0 GBP
0 GBP
Jan 1, 2008
0.38 GBP
0 GBP
0 GBP
Invalid Date
0 GBP
0.41 GBP
0 GBP
Jan 1, 2010
0.42 GBP
0 GBP
0 GBP
Jan 1, 2011
0.42 GBP
0 GBP
0 GBP
Jan 1, 2012
0.44 GBP
0 GBP
0 GBP
Jan 1, 2013
0.45 GBP
0 GBP
0 GBP
Invalid Date
0.47 GBP
0.2 GBP
0 GBP
Jan 1, 2015
0.48 GBP
0 GBP
0 GBP
Jan 1, 2016
0.44 GBP
0 GBP
0 GBP
Jan 1, 2017
1.29 GBP
0 GBP
0.84 GBP
Jan 1, 2018
0.47 GBP
0 GBP
0 GBP
Jan 1, 2019
0.48 GBP
0 GBP
0 GBP
Jan 1, 2020
0.49 GBP
0 GBP
0 GBP

National Grid dividend payout ratio

In 2025, National Grid had a payout ratio of 113.73%. The payout ratio indicates the percentage of the company's profits that National Grid distributes as dividends.

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Payout ratio
Details
Date
Payout ratio
Jan 1, 2006
29.53 %
Jan 1, 2007
87.22 %
Jan 1, 2008
41.98 %
Jan 1, 2009
153.21 %
Jan 1, 2010
103.98 %
Jan 1, 2011
78.16 %
Jan 1, 2012
102.74 %
Jan 1, 2013
95.21 %
Jan 1, 2014
86.8 %
Jan 1, 2015
111.3 %
Jan 1, 2016
76.56 %
Jan 1, 2017
68.97 %
Jan 1, 2018
54.73 %
Jan 1, 2019
129.27 %
Jan 1, 2020
158.06 %
Price targets and forecasts for National Grid are not yet available.

National Grid Earnings Estimates

National Grid Earnings Estimates

DateEPS estimateRevenue EstimateQuarterly report
5/16/20240.46GBP11.77 BGBP2024 Q4
5/17/20230.42GBP10.43 BGBP2023 Q4
11/10/20220.29GBP9.56 BGBP2023 Q2
5/19/20220.42GBP8.98 BGBP2022 Q4
11/18/20210.21GBP6.75 BGBP2022 Q2
5/20/20210.36GBP8.2 BGBP2021 Q4
11/12/20200.16GBP6.46 BGBP2021 Q2
6/18/20200.39GBP9.12 BGBP2020 Q4
11/14/20190.17GBP6.81 BGBP2020 Q2
5/16/20190.38GBP8.83 BGBP2019 Q4

EESG©

Eulerpool ESG Scorecard© for the National Grid stock

72/100
54
Environment
72
Social
90
Governance
E

Environment

20
Scope 1 - Direct Emissions3,988,000
Scope 2 - Indirect emissions from purchased energy2,864,000
Scope 3 - Indirect emissions within the value chain27,384,000
Total CO₂ emissions6,852,000
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather
Pesticides—
Palm Oil
Tobacco
Genetically modified organisms
Climate concept—
Sustainable forestry—
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees24.6
Percentage of women in management—
Percentage of Asian employees—
Share of Asian management—
Percentage of Hispanic/Latino employees—
Hispano/Latino Management share—
Percentage of Black employees—
Black Management Share—
Percentage of white employees—
White Management Share—
Adult content
Alcohol
Weapons—
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept—
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

National Grid shareholder structure

% Name
8.45038%
BlackRock Institutional Trust Company, N.A.
BlackRock Institutional Trust Company, N.A.
3.85963%
Capital World Investors
Capital World Investors
3.18538%
The Vanguard Group, Inc.
The Vanguard Group, Inc.
2.11592%
BofA Global Research (US)
BofA Global Research (US)
2.02267%
Goldman Sachs International
Goldman Sachs International
1.9326%
Lazard Asset Management, L.L.C.
Lazard Asset Management, L.L.C.
1.77181%
Norges Bank Investment Management (NBIM)
Norges Bank Investment Management (NBIM)
1.59366%
BlackRock Advisors (UK) Limited
BlackRock Advisors (UK) Limited
1.52471%
GQG Partners, LLC
GQG Partners, LLC
1.2495%
BlackRock Investment Management (UK) Ltd.
BlackRock Investment Management (UK) Ltd.
...

National Grid Executives and Management Board

JP

Mr. John Pettigrew

(56)

Chief Executive Officer, Executive Director

Compensation6.1 M GBP
AA

Mr. Andrew Agg

(55)

Chief Financial Officer, Executive Director · since 2018

Compensation3.68 M GBP
PR

Ms. Paula Reynolds

(69)

Non-Executive Independent Chairman of the Board

Compensation775,000 GBP
IM

Mr. Iain Mackay

(64)

Non-Executive Independent Director

Compensation198,000 GBP
LL

Lord Ian Livingston

(60)

Senior Non-Executive Independent Director

Compensation190,000 GBP

National Grid Supply Chain

Frequently asked questions about National Grid

The business model of National Grid PLC is focused on providing electricity and natural gas transmission and distribution services. National Grid operates regulated businesses in the UK and the US, managing the transmission network and delivering energy to millions of customers. With its extensive infrastructure, the company ensures reliable and safe energy delivery while also investing in clean energy solutions. National Grid PLC aims to support the transition to a low-carbon future by promoting renewable energy sources and implementing innovative technologies. Through its efficient operations, the company contributes to the overall stability and sustainability of the energy market.

All fundamentals and in-depth analysis of National Grid

Our stock analysis for National Grid Revenue stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of National Grid Revenue. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.

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