To the full analysis
National Grid stock: growth
NGGNational Grid reported $23.83B in revenue for fiscal 2026, down 2.2% on the prior year, down 0.5% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
3.8%
per year from 2007 to 2026, per share 1.2%
Earnings (Annual rate)
4.6%
per year from 2007 to 2026, per share 2.1%
Free cash flow (Annual rate)
no data
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2021 | since 2016 | since 2007 | |
|---|---|---|---|
| Revenue | −0.5% | 3.1% | 3.8% |
| Revenue per share | −5.1% | 0.3% | 1.2% |
| Earnings | 7.0% | 2.4% | 4.6% |
| Earnings per share | 2.2% | −0.8% | 2.1% |
| Free cash flow | no data | no data | no data |
| Free cash flow per share | no data | no data | no data |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2007 | $11.64B | $1.85B | $226.42M |
| 2008 | $15.24B | $4.23B | −$481.87M |
| 2009 | $20.79B | $1.25B | −$1.03B |
| 2010 | $18.57B | $1.84B | $758.83M |
| 2011 | $19.01B | $2.86B | $1.25B |
| 2012 | $18.34B | $2.54B | $508.97M |
| 2013 | $19.03B | $2.85B | −$284.24M |
| 2014 | $19.63B | $3.28B | $314.73M |
| 2015 | $20.15B | $2.68B | $1.75B |
| 2016 | $17.51B | $3.43B | $2.64B |
| 2017 | $19.93B | $10.33B | $1.72B |
| 2018 | $20.21B | $4.71B | $13.74M |
| 2019 | $19.79B | $2B | −$126.2M |
| 2020 | $17.71B | $1.68B | −$1.05B |
| 2021 | $24.46B | $3.12B | −$507.26M |
| 2022 | $24.46B | $3.12B | $451.1M |
| 2023 | $28.71B | $10.34B | −$776.67M |
| 2024 | $26.31B | $3.04B | −$1.68B |
| 2025 | $24.36B | $3.85B | −$4.49B |
| 2026 | $23.83B | $4.37B | −$5.06B |
Revenue by segment
How National Grid plc makes its money and how that has shifted. Names are as the company reports them.
- Distribution73%
- Transmission21%
- Generation2%
- Other4%
“Other” combines smaller and former segments with revenue the company does not assign to a segment. Names as reported, with abbreviations spelled out for the largest companies.
Figures as a table
| 2025 | 2026 | Share 2026 | |
|---|---|---|---|
| Distribution | $17.09B | $17.4B | 73% |
| Transmission | $4.68B | $4.93B | 20.7% |
| Generation | $509.01M | $482.5M | 2% |
| Other | $2.09B | $1.02B | 4.3% |
| Total revenue | $24.36B | $23.83B | 100% |
Revenue by region
Where National Grid plc generates its revenue.
- United States68%
- Country of domicile30%
- Other2%
“Other” combines smaller regions with revenue the company does not assign to a region.
Figures as a table
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Share 2026 | |
|---|---|---|---|---|---|---|---|
| United States | $12.32B | $14.11B | $15.97B | $14.3B | $15.47B | $16.19B | 68% |
| Country of domicile | $7.27B | $10.34B | $12.74B | $12.01B | $8.89B | $7.25B | 30.4% |
| Other | $4.86B | $0 | $0 | $0 | $0 | $381.28M | 1.6% |
| Total revenue | $24.46B | $24.46B | $28.71B | $26.31B | $24.36B | $23.83B | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2026, period end 31 Mar 2026
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = £0.7544)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 23 Oct 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.