National Grid plc
NGG · Price history
Price at last available close
$84.20
+$8.38 (+11.05%) 1M
2026-10-29
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Company & revenue
About National Grid plc
Primary reporting period: 2026-03-31 · Research updated Oct 10, 2026. A research update is not a new financial filing.
Who they are
National Grid plc engages in the transmission and distribution of electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission networks in England and Wales.
How they make money
National Grid plc operates as a regulated utility company that generates revenue primarily through the transmission and distribution of electricity and gas. It charges generators, distributors, and end-users for the use of its infrastructure, with prices and returns largely determined by regulatory frameworks in the United Kingdom and the United States.
Products & services
Electricity transmission and distribution networks, gas distribution networks, and energy interconnectors.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
Customer types
Customer concentration
The company serves millions of residential and commercial customers across the UK and US; no single customer accounts for a material portion of total revenue as of the fiscal year ended March 31, 2026.
Suppliers, materials & equipment
- Energy infrastructure equipment providers — Various unnamed suppliers of high-voltage equipment, transformers, and grid infrastructure components.Source
Strengths
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-03-31.
Diluted weighted-average shares increased 23.0% year over year.
Compare per-share results with total earnings and inspect the equity footnote. A change in weighted-average shares does not by itself establish the cause, the number of shares issued today, or the economic effect of a split.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
35
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
55
Fair
Financial Strength
54
Business Quality / Moat
32
Management
63
Growth Quality
82
Risk / Durability
62
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
39
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
45/100
Building Historical Record
Model Score 45/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
No strong positive signal is being highlighted from the currently available summary data.
- •Elevated debt risk
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
Company-specific research
Questions worth answering for NGG
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can NGG maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •How long can NGG fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Is NGG's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify NGG's current valuation?
- •What does the current fundamental change risk warning mean for the reliability or interpretation of NGG's score?
Essential Investment Snapshot
Wall Street Score
35
Opportunity Score
39
Market Cap
$84.86B
P/E Ratio
9.3
EPS
$8.25
52-Week High
$94.64
52-Week Low
$73.24
Beta
0.59
Intrinsic Value
$70.11
Analyst Target
$79.25
Shares Outstanding
994.2M
Total Revenue
$47.16B
Total Debt
$61.80B
Dividend
No current dividend
Liquidation Value / Share
$52.29
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Building upward momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for NGG
Detected from reported data — verify before acting.Elevated debt risk
Total debt is at least one year of revenue • Free cash flow is negative • Cash covers less than 20% of total debt
Community Sentiment
0 active · 0 total callsNo personal call yet on NGG.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Regulated asset base providing stable, predictable cash flows.
- +Critical infrastructure position in key UK and US markets.
Potential downside factors
- −Debt risk (elevated): Total debt is at least one year of revenue.
- −Free cash flow is negative.
- −Cash covers less than 20% of total debt.
- −Regulatory and political changes affecting allowed returns.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
35
Oct 1, 2026
Change
-0.1
points
Current Score
35
Oct 8, 2026
Category Changes
NGG decreased 0.1 points because some fundamentals weakened.
Projected Score
Projected Score
41
Projected Change
+6.0 points
Preliminary comparable-period financial changes suggest improvement of approximately 6.0 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$84.20
Model Intrinsic Value
$70.11
Difference
+$14.09
+20.1% vs IV
Margin of Safety
-20.1%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $47.16B | $23.76B | $24.29B | $26.24B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $33.32B | $16.00B | $5.49B | $6.97B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $13.84B | $7.76B | $18.81B | $19.27B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $56.0M | $42.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $0.00 | $0.00 | $12.28B | $13.35B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $19.44B | $10.33B | $10.11B | $9.03B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $13.84B | $7.76B | $6.52B | $5.92B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $3.50B | $1.74B | $1.82B | $1.78B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $10.31B | $5.62B | $4.82B | $4.03B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $2.32B | $1.26B | $1.09B | $1.10B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $8.08B | $4.35B | $3.84B | $3.03B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $8.25 | $4.43 | $4.02 | $3.77 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 995M | 989M | 941M | 803M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 995M | 994M | 946M | 807M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$14.25B
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$3.57
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-1.6%
Cash Change
-68.2%
Margin Change
+3.1 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Debt reduced
What Weakened
- Cash position declined
Potential Score Impact
Positive indicators included revenue growth, EPS growth, debt levels, net income margin. Pressure indicators included cash levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 5.4%. EPS increased 19.5%. Cash declined 68.2%. Total debt declined 1.6%. Net income margin improved by 3.1 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
8
Smart Money
8
Number of Gurus
1
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Rumor Mill · NGG
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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