National Grid (NG.L) Stock Price

National Grid Price

LSE·CLOSED
11.90GBP-0.08 (-0.67 %)
Market closed

Revenue has compounded at 3.9% per year over the past 19 years to 18.38 B GBP. Earnings per share have declined at 3.0% per year over the last 19 years. National Grid's net margin stands at 15.8%, up from 12.0% several years earlier. National Grid currently offers a dividend yield of about 3.97%. The payout ratio is around 79% of earnings. The dividend has grown at 2.5% per year over the past 19 years. Analysts set a median price target of 1,279.08 GBP, implying 10,648.6% above the current price. Of 24 analysts, 17 rate the stock a buy — an overall Buy consensus. The stock trades about 18% above its 52-week low.

National Grid stock price

Volume
Ex-Dividend
Details

Stock Price

ⓘ

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
7/31/202611.90 GBP
7/30/202611.98 GBP
7/29/202611.93 GBP
7/28/202612.26 GBP
7/27/202612.23 GBP
7/24/202612.38 GBP
7/23/202612.43 GBP
7/22/202612.50 GBP
7/21/202612.24 GBP
7/20/202612.36 GBP
7/17/202612.42 GBP
7/16/202612.17 GBP
7/15/202612.35 GBP
7/14/202612.49 GBP
7/13/202612.31 GBP
7/10/202612.26 GBP
7/9/202612.30 GBP
7/8/202612.47 GBP
7/7/202612.48 GBP
7/6/202612.31 GBP
7/3/202612.43 GBP
7/2/202612.30 GBP
7/1/202612.11 GBP
6/30/202612.48 GBP
6/29/202612.55 GBP
6/26/202612.46 GBP
6/25/202612.53 GBP
6/24/202612.41 GBP
6/23/202612.26 GBP
6/22/202612.21 GBP
6/19/202611.94 GBP
6/18/202611.99 GBP
6/17/202612.09 GBP
6/16/202612.09 GBP
6/15/202612.00 GBP
6/12/202612.09 GBP
6/11/202612.14 GBP
6/10/202611.97 GBP
6/9/202612.00 GBP
6/8/202612.04 GBP
6/5/202612.06 GBP
6/4/202612.06 GBP
6/3/202612.00 GBP
6/2/202611.92 GBP
6/1/202612.03 GBP
5/29/202612.18 GBP
5/28/202612.34 GBP
5/27/202612.80 GBP
5/26/202612.94 GBP
5/22/202612.83 GBP
5/21/202612.69 GBP
5/20/202612.49 GBP
5/19/202612.51 GBP
5/18/202612.32 GBP
5/15/202611.88 GBP
5/14/202612.98 GBP
5/13/202612.76 GBP
5/12/202612.77 GBP
5/11/202612.78 GBP
5/8/202612.78 GBP
5/7/202612.74 GBP
5/6/202612.98 GBP
5/5/202612.92 GBP
5/1/202613.09 GBP
4/30/202613.12 GBP
4/29/202612.80 GBP
4/28/202613.00 GBP
4/27/202612.94 GBP
4/24/202612.95 GBP
4/23/202612.87 GBP
4/22/202612.75 GBP
4/21/202612.54 GBP
4/20/202612.76 GBP
4/17/202612.75 GBP
4/16/202612.87 GBP
4/15/202612.94 GBP
4/14/202613.09 GBP
4/13/202613.20 GBP
4/10/202613.48 GBP
4/9/202613.51 GBP
4/8/202613.32 GBP
4/7/202613.16 GBP
4/2/202613.23 GBP
4/1/202612.95 GBP
3/31/202612.70 GBP
3/30/202612.73 GBP
3/27/202612.37 GBP
3/26/202612.38 GBP
3/25/202612.59 GBP
3/24/202612.32 GBP
3/23/202612.15 GBP
3/20/202612.33 GBP
3/19/202612.75 GBP
3/18/202613.24 GBP
3/17/202613.63 GBP
3/16/202613.58 GBP
3/13/202613.73 GBP
3/12/202613.65 GBP
3/11/202613.34 GBP
3/10/202613.52 GBP
3/9/202613.35 GBP
3/6/202613.38 GBP
3/5/202613.53 GBP
2/26/202613.87 GBP
2/25/202613.89 GBP
2/24/202613.74 GBP
2/23/202613.60 GBP
2/20/202613.47 GBP
2/19/202613.43 GBP
2/18/202613.49 GBP
2/17/202613.77 GBP
2/16/202613.74 GBP
2/13/202613.66 GBP
2/12/202613.53 GBP
2/11/202613.30 GBP
2/10/202612.93 GBP
2/9/202612.87 GBP
2/6/202612.86 GBP
2/5/202612.83 GBP
2/4/202612.79 GBP
2/3/202612.57 GBP
2/2/202612.41 GBP
1/30/202612.35 GBP
1/29/202612.31 GBP
1/28/202612.31 GBP
1/27/202612.23 GBP
1/26/202612.05 GBP
1/23/202611.92 GBP
1/22/202611.87 GBP
1/21/202611.91 GBP
1/20/202611.91 GBP
1/19/202611.97 GBP
1/16/202612.02 GBP
1/15/202611.82 GBP
1/14/202611.68 GBP
1/13/202611.54 GBP
1/12/202611.79 GBP
1/9/202611.93 GBP
1/8/202611.84 GBP
1/7/202611.85 GBP
1/6/202611.73 GBP
1/5/202611.51 GBP
1/2/202611.58 GBP
12/31/202511.42 GBP
12/30/202511.48 GBP
12/29/202511.42 GBP
12/24/202511.38 GBP
12/23/202511.39 GBP
12/22/202511.29 GBP
12/19/202511.42 GBP
12/18/202511.43 GBP
12/17/202511.45 GBP
12/16/202511.22 GBP
12/15/202511.27 GBP
12/12/202511.19 GBP
12/11/202511.17 GBP
12/10/202511.18 GBP
12/9/202511.30 GBP
12/8/202511.36 GBP
12/5/202511.35 GBP
12/4/202511.43 GBP
12/3/202511.44 GBP
12/2/202511.51 GBP
12/1/202511.45 GBP
11/28/202511.47 GBP
11/27/202511.45 GBP
11/26/202511.35 GBP
11/25/202511.24 GBP
11/24/202511.17 GBP
11/21/202511.39 GBP
11/20/202511.40 GBP
11/19/202511.57 GBP
11/18/202511.73 GBP
11/17/202511.79 GBP
11/14/202511.70 GBP
11/13/202511.83 GBP
11/12/202511.78 GBP
11/11/202511.64 GBP
11/10/202511.66 GBP
11/7/202511.71 GBP
11/6/202511.61 GBP
11/5/202511.52 GBP
11/4/202511.45 GBP
11/3/202511.35 GBP
10/31/202511.41 GBP
10/30/202511.54 GBP
10/29/202511.47 GBP
10/28/202511.52 GBP
10/27/202511.50 GBP
10/24/202511.52 GBP
10/23/202511.48 GBP
10/22/202511.46 GBP
10/21/202511.40 GBP
10/20/202511.33 GBP
10/17/202511.31 GBP
10/16/202511.23 GBP
10/15/202511.10 GBP
10/14/202511.02 GBP
10/13/202510.96 GBP
10/10/202511.06 GBP
10/9/202510.99 GBP
10/8/202510.92 GBP
10/7/202510.93 GBP
10/6/202510.82 GBP
10/3/202510.78 GBP
10/2/202510.70 GBP
10/1/202510.79 GBP
9/30/202510.68 GBP
9/29/202510.57 GBP
9/26/202510.56 GBP
9/25/202510.50 GBP
9/24/202510.52 GBP
9/23/202510.41 GBP
9/22/202510.41 GBP
9/19/202510.34 GBP
9/18/202510.32 GBP
9/17/202510.39 GBP
9/16/202510.39 GBP
9/15/202510.46 GBP
9/12/202510.48 GBP
9/11/202510.37 GBP
9/10/202510.35 GBP
9/9/202510.33 GBP
9/8/202510.33 GBP
9/5/202510.34 GBP
9/4/202510.21 GBP
9/3/202510.18 GBP
9/2/202510.11 GBP
9/1/202510.20 GBP
8/29/202510.41 GBP
8/28/202510.48 GBP
8/27/202510.58 GBP
8/26/202510.47 GBP
8/25/202510.49 GBP
8/22/202510.49 GBP
8/21/202510.60 GBP
8/20/202510.61 GBP
8/19/202510.41 GBP
8/18/202510.40 GBP
8/15/202510.44 GBP
8/14/202510.33 GBP
8/13/202510.34 GBP
8/12/202510.57 GBP
8/11/202510.57 GBP
8/9/202510.52 GBP
8/8/202510.68 GBP
8/7/202510.83 GBP
8/6/202510.83 GBP
8/5/202510.88 GBP
8/4/202510.88 GBP
Access this data via the Eulerpool API
Get Free API Key

National Grid Revenue, EBIT, Net Income

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2023
21.66 B GBP
4.29 B GBP
7.80 B GBP
Jan 1, 2024
19.85 B GBP
5.95 B GBP
2.29 B GBP
Jan 1, 2025
18.38 B GBP
5.07 B GBP
2.90 B GBP
Jan 1, 2026 (e)
19.21 B GBP
7.94 B GBP
3.68 B GBP
Jan 1, 2027 (e)
19.55 B GBP
8.08 B GBP
4.23 B GBP
Jan 1, 2028 (e)
21.31 B GBP
8.81 B GBP
4.62 B GBP
Jan 1, 2029 (e)
23.00 B GBP
9.51 B GBP
5.02 B GBP
Jan 1, 2030 (e)
26.80 B GBP
11.08 B GBP
5.39 B GBP

National Grid Income Statement, Balance Sheet, Cash Flow Statement

Last updated Aug 3, 2026, 7:31 AM
 
REVENUEB GBP
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEB GBP
EBITB GBP
EBIT MARGIN%
NET INCOMEB GBP
NET INCOME GROWTH%
DIV.GBP
DIV. GROWTH%
SHARESB
20162017201820192020202120222023202420252026e2027e2028e2029e2030e2031e
13.2115.0415.2514.9314.5413.6718.2621.6619.8518.3819.2119.5521.3123.0026.8032.13
-1.0913.801.43-2.08-2.63-6.0233.6318.61-8.35-7.424.541.749.037.9316.4819.92
80.6882.1778.9876.1479.9080.0579.3380.5185.8483.6483.6483.6483.6483.6483.6483.64
10.6612.3612.0511.3711.6210.9414.4917.4417.0415.3716.0716.3517.8319.2422.4126.88
3.233.773.463.443.422.573.864.295.955.077.948.088.819.5111.0813.28
24.4125.0922.6723.0523.5518.7921.1419.8329.9927.5841.3341.3341.3341.3341.3341.33
2.597.803.551.511.261.642.357.802.292.903.684.234.625.025.395.62
28.33200.85-54.46-57.44-16.3529.7543.48231.36-70.6326.7226.8114.899.328.617.454.21
0.441.290.470.480.490.490.520.570.550.470.330.330.33–––
-8.33193.18-63.572.132.08–6.129.62-3.51-14.55-29.79–––––
4.174.164.174.084.174.254.344.413.714.734.734.734.734.734.734.73
Details

Income Statement Key Figures

ⓘ

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.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2021
80.05 %
18.79 %
12.00 %
Jan 1, 2022
79.33 %
21.14 %
12.89 %
Jan 1, 2023
80.51 %
19.83 %
36.00 %
Jan 1, 2024
85.84 %
29.99 %
11.54 %
Jan 1, 2025
83.64 %
27.58 %
15.79 %
Jan 1, 2026 (e)
83.64 %
41.33 %
19.15 %
Jan 1, 2027 (e)
83.64 %
41.33 %
21.63 %
Jan 1, 2028 (e)
83.64 %
41.33 %
21.69 %

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.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2021
3.22 GBP
0.60 GBP
0.39 GBP
Jan 1, 2022
4.21 GBP
0.89 GBP
0.54 GBP
Jan 1, 2023
4.91 GBP
0.97 GBP
1.77 GBP
Jan 1, 2024
5.35 GBP
1.61 GBP
0.62 GBP
Jan 1, 2025
3.89 GBP
1.07 GBP
0.61 GBP
Jan 1, 2026 (e)
4.06 GBP
1.68 GBP
0.78 GBP
Jan 1, 2027 (e)
4.13 GBP
1.71 GBP
0.89 GBP
Jan 1, 2028 (e)
4.51 GBP
1.86 GBP
0.98 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

Details

Fair Value Estimate

ⓘ

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

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

National Grid annual returns

Details

Annual Return

ⓘ

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 of National Grid was 4.73 B in 2025. This indicates how many shares National Grid is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2021
4.25 B Stocks
Jan 1, 2022
4.34 B Stocks
Jan 1, 2023
4.41 B Stocks
Jan 1, 2024
3.71 B Stocks
Jan 1, 2025
4.73 B Stocks
Jan 1, 2026 (e)
4.73 B Stocks
Jan 1, 2027 (e)
4.73 B Stocks
Jan 1, 2028 (e)
4.73 B Stocks

National Grid stock splits

In National Grid's history, there have been no stock splits.

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.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Dividend
Dividend (Estimate)
Special dividend
Details
Date
Dividend
Dividend (Estimate)
Special dividend
Jan 1, 2021
0.49 GBP
0.00 GBP
0.00 GBP
Jan 1, 2022
0.52 GBP
0.00 GBP
0.00 GBP
Jan 1, 2023
0.57 GBP
0.00 GBP
0.00 GBP
Jan 1, 2024
0.55 GBP
0.00 GBP
0.00 GBP
Jan 1, 2025
0.47 GBP
0.00 GBP
0.00 GBP
Jan 1, 2026 (e)
0.16 GBP
0.16 GBP
0.00 GBP
Jan 1, 2027 (e)
0.00 GBP
0.33 GBP
0.00 GBP
Jan 1, 2028 (e)
0.00 GBP
0.33 GBP
0.00 GBP

National Grid dividend payout ratio

In 2025, National Grid had a payout ratio of 79.03%. The payout ratio indicates the percentage of the company's profits that National Grid distributes as dividends.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2021
129.92 %
Jan 1, 2022
95.56 %
Jan 1, 2023
29.77 %
Jan 1, 2024
91.60 %
Jan 1, 2025
79.03 %
Jan 1, 2026 (e)
42.02 %
Jan 1, 2027 (e)
36.57 %
Jan 1, 2028 (e)
33.46 %

Current National Grid forecasts and price targets in August 2026

Analyst Price Targets 2026
Δ MOM Price Target
0.00 %
Buy
70.83 % (17)
Hold
25.00 % (6)
Sell
4.17 % (1)
12M Price Target
12.79
Last Price
11.90
Currency
GBP
12M Return Potential
7.49 %
LTM Return
0 %

National Grid Analyst Rating Actions

DateFirmActionRatingReliability
11/14/2022
Societe Generale
Societe Generale
UpgradeHoldBuy–
4/24/2022
Deutsche Bank
Deutsche Bank
DowngradeBuyHold–
4/20/2022
Berenberg
Berenberg
DowngradeBuyHold–
10/5/2021
Argus Research
Argus Research
DowngradeBuyHold–
5/5/2021
Berenberg
Berenberg
UpgradeHoldBuy–
3/18/2021
HSBC
HSBC
UpgradeHoldBuy–
1/9/2020
Exane BNP Paribas
Exane BNP Paribas
DowngradeOutperformNeutral71
10/16/2019
Credit Suisse
Credit Suisse
UpgradeNeutralOutperform–
2/5/2019
RBC Capital
RBC Capital
UpgradeSector PerformOutperform52
12/5/2017
Deutsche Bank
Deutsche Bank
UpgradeSellHold–

Eulerpool Reliability Score (0–100): measures how often a firm’s bullish or bearish calls were directionally correct three months later, blended with the average return following its calls. Every rating we record is stored permanently and scores update continuously; firms with fewer than 3 measured calls are not scored yet.

National Grid Earnings Calls

2025

National Grid Earnings Estimates & Surprises

DateEPS estimateEPS ActualRevenue EstimatePrice reactionQuarterly report
5/16/20240.46GBP-11.77 BGBP-2024 Q4
5/17/20230.42GBP-10.43 BGBP-2023 Q4
11/10/20220.29GBP-9.56 BGBP-2023 Q2
5/19/20220.42GBP-8.98 BGBP-2022 Q4
11/18/20210.21GBP-6.75 BGBP-2022 Q2
5/20/20210.36GBP-8.20 BGBP-2021 Q4
11/12/20200.16GBP-6.46 BGBP-2021 Q2
6/18/20200.39GBP-9.12 BGBP-2020 Q4
11/14/20190.17GBP-6.81 BGBP-2020 Q2
5/16/20190.38GBP-8.83 BGBP-2019 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.
3.18538%
The Vanguard Group, Inc.
The Vanguard Group, Inc.
1.93260%
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
...

National Grid Beneficial Ownership Filings (SEC 13D/G)

Free Float
98.1%
Float Shares
-
Shares Outstanding
-

National Grid Executives and Management Board

18 members · avg. age 59 · 39 % women

JP

Mr. John Pettigrew (56)

Chief Executive Officer, Executive Director

6.10 M GBP

Management

AA

Mr. Andrew Agg (55)

Chief Financial Officer, Executive Director · since 2018

3.68 M GBP
WS

Mr. Will Serle

Chief People Officer

–
TL

Mr. Talvis Love

Chief Information and Digital Officer

–
ZY

Ms. Zoe Yujnovich

Executive Director, Chief Executive Officer - Designate · since 2025

–
JC

Ms. Justine Campbell (53)

Chief Legal Officer

–
CG

Ms. Courtney Geduldig

Chief Corporate Affairs Officer

–

Board of Directors

PR

Ms. Paula Reynolds (69)

Non-Executive Independent Chairman of the Board

775,000.00 GBP
IM

Mr. Iain Mackay (64)

Non-Executive Independent Director

198,000.00 GBP
LL

Lord Ian Livingston (60)

Senior Non-Executive Independent Director

190,000.00 GBP
MW

Ms. Martha Wyrsch (67)

Non-Executive Independent Director

144,000.00 GBP
ES

Mr. Earl Shipp (67)

Non-Executive Independent Director

136,000.00 GBP
JF

Ms. Jacqui Ferguson (54)

Non-Executive Independent Director

126,000.00 GBP

National Grid Supply Chain

National Grid Supply Chain

Correlation: how closely stock prices move together

Same directionNo relationOpposite
30 companies
#NameTrend
1
TC Energy
Supplier·Customer·Oil, Gas & Consumable Fuels·CA
0.44
0.65
0.40
0.84
0.70
0.74
2
Cenergy Holdings
Supplier·BE
0.25
0.46
-0.62
0.03
0.77
0.74
3
Assured Guaranty
Supplier·Insurance·BM
0.74
-0.13
-0.55
0.52
0.72
0.68
4
NV5 Global
Supplier·Construction & Engineering·US
0.38
-0.06
-0.46
0.04
0.68
0.67
5
Quanta Services
Supplier·Construction & Engineering·US
0.26
-0.15
-0.18
0.50
0.49
0.66
#NameTrend
1
DT Midstream
Supplier·Customer·Oil, Gas & Consumable Fuels·US
0.80
0.25
0.18
0.79
—
—
2
Hochtief
Supplier·Construction & Engineering·DE
0.49
0.67
-0.05
-0.75
-0.63
-0.71
3
Berkeley Group Holdings
Supplier·Customer·Household Durables·GB
0.31
0.34
0.51
-0.57
-0.65
-0.66
4
Lakeland Industries
Supplier·Textiles, Apparel & Luxury Goods·US
0.76
0.76
-0.61
-0.74
-0.75
-0.63
5
Professional Diversity
Supplier·Interactive Media & Services·US
0.26
-0.16
-0.55
-0.36
-0.83
-0.59

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.

National Grid PLC is primarily active in the energy and utility industry.

The main competitors of National Grid PLC in the market include companies such as E.ON SE, SSE plc, and Centrica plc.

National Grid PLC is a renowned company with a rich history and background. It was established in 1990 and is headquartered in London, United Kingdom. National Grid operates as an electricity and gas utility company, playing a crucial role in the energy industry. It manages the transmission and distribution networks in both the UK and the northeastern United States. With a strong presence in these regions, National Grid PLC ensures reliable and secure energy delivery to millions of customers. The company's commitment to sustainability and innovation has positioned it as a leader in the energy sector.

National Grid PLC has achieved several significant milestones throughout its history. One of the notable achievements includes its successful completion of the "Felec Project" in 1990, which connected the electricity grids of England and France for the first time. In 2005, the company secured a major milestone by listing on the New York Stock Exchange (NYSE). National Grid PLC further expanded its operations by acquiring KeySpan Corporation, a leading electricity and natural gas distribution company in the United States, in 2007. The company's commitment to renewable energy has also been recognized, with National Grid PLC being awarded the Carbon Trust Standard in 2010 for its achievements in reducing carbon emissions.

National Grid PLC is primarily present in the United Kingdom and the northeastern states of the United States. As a leading electricity and gas utility company, National Grid PLC serves millions of customers across these regions. With a strong market presence, the company operates and maintains vital infrastructure that delivers reliable energy supplies to homes and businesses. National Grid PLC's expertise and extensive network enable it to efficiently manage and deliver electricity and natural gas services, ensuring a stable and secure energy future for these areas.

National Grid PLC represents the values of reliability, safety, and sustainability. As a leading energy infrastructure company, National Grid is committed to delivering reliable and secure energy transmission and distribution services. They prioritize the safety of their employees, customers, and communities. National Grid also espouses a sustainable corporate philosophy, aiming to reduce their carbon footprint and contribute to the transition to a low-carbon energy future. They actively invest in renewable energy projects and support initiatives to build a cleaner and more sustainable energy system. Overall, National Grid PLC embodies the values of reliability, safety, and sustainability in their operations and corporate philosophy.

Analysts currently set an average price target of 1,287.40 GBP for the National Grid stock (median: 1,279.08 GBP), implying +8.2 % versus the latest price. The consensus is based on 24 analyst ratings.

National Grid Analyst Price Targets 2026

24 analysts currently rate the National Grid stock: 17 recommend buying, 6 holding and 1 selling. For 2026, analysts expect National Grid to generate revenue of 19.21 B GBP and earnings per share of 0.78 GBP.

National Grid Analyst Price Targets 2026

Converted at the current exchange rate, the National Grid share trades at 13.91 EUR (11.90 GBP).

The National Grid share (NG.L) is listed on 8 stock exchanges, including: XETRA (NNGF.DE), Frankfurt (NNGF.F), München (NNGF.MU), Düsseldorf (NNGF.DU), London (NG.L), London (NG.L), SIX (Zürich) (NNGF.SW).

National Grid PLC is a British company that operates in the electricity and natural gas networks. Its business model focuses on providing safe and reliable energy supply to its customers. The company develops, operates, and maintains energy networks in various countries such as the UK, USA, and Australia. In the United Kingdom, National Grid is responsible for operating the electricity transmission network. The company also operates the largest gas network in the country, which spans nearly 132,000 kilometers. National Grid is responsible for transmitting electricity and gas from generation to consumption. The company is actively working to modernize and expand its networks to create a sustainable energy supply system for the future. In the USA, National Grid is a leading operator of electricity and gas distribution networks. The company has facilities in New York, Massachusetts, and Rhode Island. In this region, National Grid operates 7,000 miles of electricity transmission lines and nearly 14,000 miles of gas distribution pipelines. The company is also actively involved in investing in energy efficiency and renewable energy sources to support the transition to alternative forms of energy. National Grid PLC offers a wide range of products and services tailored to the energy needs of its customers. The company provides customized solutions for industry, commercial, and residential customers, as well as energy management services. The company also offers smart home technologies that help customers reduce their energy costs and make their homes more energy efficient. National Grid also focuses on innovation to find new ways to efficiently generate and distribute clean energy. The company participates in research and development programs to develop new technologies and drive the transition to renewable energy sources. Overall, National Grid's business model is to provide a safe, reliable, and cost-effective energy supply. The company strives to offer its customers customized energy supply solutions that are tailored to their specific needs while also driving the transition to renewable energy sources. National Grid PLC is a leading company in the energy industry and is committed to creating a sustainable future for all.

The expected revenue of National Grid is 19.21 B GBP. This figure is based on current financial data and reflects the company's business performance.

The expected profit of National Grid is 3.68 B GBP. The net profit reflects the company's profitability after deducting all expenses.

The price-to-earnings ratio (P/E) of National Grid is currently 15.29. The P/E ratio compares the current share price to the earnings per share and helps investors assess the valuation of the National Grid stock.

The price-to-sales ratio (P/S) of National Grid is currently 2.93. The P/S ratio compares the market capitalization to the annual revenue and serves as a valuation metric for the National Grid stock.

The Eulerpool Quality Score for National Grid is 5/10.

The ISIN of National Grid is GB00BDR05C01. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.

The WKN of National Grid is A2DQWX. The WKN (Wertpapierkennnummer) is a six-digit German security identification number.

The ticker of National Grid is NG.L. The ticker symbol is used to trade National Grid shares on the stock exchange.

Over the past 12 months, National Grid paid a dividend of 0.47 GBP . This corresponds to a dividend yield of about 3.97 %. For the coming 12 months, National Grid is expected to pay a dividend of 0.33 GBP.

The current dividend yield of National Grid is 3.97 %.

National Grid pays a dividend, distributed in the months of , , , .

National Grid paid dividends every year for the past 30 years.

For the upcoming 12 months, dividends amounting to 0.33 GBP are expected. This corresponds to a dividend yield of 2.75 %.

National Grid is assigned to the 'Utilities' sector.

To receive the latest dividend of National Grid from amounting to 0.16 GBP, you needed to have the stock in your portfolio before the ex-date on .

The last dividend was paid out on .

In the year 2025, National Grid distributed 0.57 GBP as dividends.

The dividends of National Grid are distributed in GBP.

All fundamentals and in-depth analysis of National Grid

Our stock analysis for National Grid 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. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.

National Grid Stock
National Grid Revenue→
National Grid Stock
National Grid Net Income→
National Grid Stock
National Grid P/E→
National Grid Stock
National Grid P/S→
National Grid Stock
National Grid EBIT→
National Grid Stock
National Grid Dividend→
National Grid Stock
National Grid Directors Dealings→
National Grid Stock
National Grid Stocks→
National Grid Stock
National Grid Market capitalization→
National Grid Stock
National Grid Debt→
National Grid Stock
National Grid Liabilities→
National Grid Stock
National Grid Equity→
National Grid Stock
National Grid AAQS→
National Grid Stock
National Grid Employees→
National Grid Stock
National Grid ROE→
National Grid Stock
National Grid ROA→
National Grid Stock
National Grid ROCE→
National Grid Stock
National Grid News→
National Grid Stock
National Grid Analyst Price Targets→

Utilities Stocks

National Grid PLC ADRNational Gas and Industrialization Company SJSCNatural Gas Distribution Company CJSCNational Fuel GasNaturenergie HoldingNanjing Public Utilities Development CoNaturgy Chile Gas NaturalNacel EnergyNaturgy Energy GroupMVV EnergieNebras EnergyMontauk RenewablesAll Stocks A–Z →