profit from every $100 of sales.
$0$100
National Grid
$83.95-0.30% today
+10.4% in 1 year
1-year low $73.541-year high $93.93
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2026.
0%20% a year
You pay $19.44 for every $1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What National Grid sold, what it kept, and what it did with the cash.
Sales went from £21.7 billion in 2023 to £17.7 billion in 2026, with £3.24 billion of profit last year.
SalesProfit
National Grid vs. similar companies
National Grid grows the slowest of these 5 and is the cheapest for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| National Grid | 19.4× · Fair price | ||
 The Southern | 24.8× · Fair price | ||
 Duke Energy | 20.0× · Fair price | ||
 American Electric Power | 19.8× · Fair price | ||
 Dominion Energy | 19.5× · Fair price |
AI analysis
An AI analyst reads National Grid's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of GBP | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| 18,449 | 21,659 | 19,850 | 18,378 | 17,687 | |
| 12,351 | 13,036 | 14,578 | 14,228 | 14,107 | |
| 4,376 | 4,882 | 4,666 | 5,447 | 5,690 | |
| 6,428 | 7,254 | 6,832 | 7,939 | 8,078 | |
| 2,353 | 7,797 | 2,290 | 2,902 | 3,241 | |
| 2.99 | 9.75 | 2.86 | – | 3.26 | |
| 66.9% | 60.2% | 73.4% | 77.4% | 79.8% | |
| 23.7% | 22.5% | 23.5% | 29.6% | 32.2% | |
| 12.8% | 36.0% | 11.5% | 15.8% | 18.3% |
Balance sheet
| In millions of GBP | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total assets | 94,860 | 92,697 | 98,325 | 106,742 | 108,281 |
| Cash | 190 | 126 | 548 | 1,178 | 375 |
| Total debt | 45,465 | 42,985 | 47,072 | 47,539 | 46,755 |
| Total liabilities | – | 63,135 | 68,433 | 68,916 | 68,951 |
| 23,833 | 29,538 | 29,867 | 37,803 | 39,299 | |
| 787 | 800 | 802 | – | 994 | |
| 5.2% | 5.7% | 4.9% | 5.1% | 5.4% | |
| 9.9% | 26.4% | 7.7% | 7.7% | 8.2% |
Cash flow
| In millions of GBP | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| 6,272 | 6,898 | 6,939 | 6,808 | 7,829 | |
| 5,544 | 6,892 | 7,453 | 9,306 | 10,575 | |
| 728 | 6 | -514 | -2,498 | -2,746 | |
| Dividends paid | – | 1,607 | 1,718 | 1,529 | 1,623 |
| – | – | 4 | 7 | 1 | |
| – | 48 | 37 | 37 | 45 |
Valuation
- 19.4×
- 18.4×
- 8.80
- 1.5×
- 3.6×
- –
- 13.5×
- -4.4%
- 5.1%
- 4.1%
Profitability
- 79.8%
- 32.2%
- 18.3%
- 45.8%
- 4.3%
- 4.9%
- 8.5%
- 3.0%
- 5.8%
- –
Growth
- −1.0%
- +2.2%
- −12.7%
- −0.1%
- +6.0%
Financial health
- 5.7×
- 1.19
- 43.2%
- 4.4×
- 0.76
- 0.71
- 0.16
How it ranks in Utilities
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 35%of 400
Top 19%of 395
Bottom 43%of 366
Bottom 29%of 400
Bottom 27%of 400
What analysts expect
- Average price target
- $85.50
- Range
- $85.50 – $85.50
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 14, 2026 | 3.56 | 3.24 | +9.9% |
| Nov 6, 2025 | 0.84 | 1.85 | −54.8% |
| May 15, 2025 | 0.59 | 2.82 | −79.0% |
| Nov 7, 2024 | 0.19 | 1.77 | −89.5% |
| May 23, 2024 | 0.39 | 2.64 | −85.1% |
| Mar 19, 2024 | 0.37 | 1.31 | −71.7% |
| May 18, 2023 | 2.20 | 1.88 | +17.0% |
| Nov 10, 2022 | 0.38 | 1.45 | −73.8% |
4.1%of the share price, paid each year
On $1,000 invested$41a year at today's yield, before tax
−0.1%2020 to 2025
Raised–not every year
Paid per share, each year
$3.62 in 2015 → $3.12 in 2025
How safe it looks
50.1% of its profit
Room to growStretchedMore than it earns: -32.1%
News
Auburn National GAAP EPS of $0.72, revenue of $9.1MSeeking Alpha · Oct 27, 2026United CEO backs national wealth tax, inheritance leviesSeeking Alpha · Oct 20, 2026Butler National boosts share buyback authorization to $11.9MSeeking Alpha · Oct 7, 2026Trading platform Webull's China ties create national security risk, congressional panel finds; stock drops 18%CNBC · Oct 7, 20264 stocks to watch on Monday: IOT, SPCX, DKNG, and NGGSeeking Alpha · Oct 5, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass. Context about the kind of company it is, not a recommendation.
Warren Buffett
44No pass
Benjamin Graham
48No pass
Philip Fisher
50No pass
Peter Lynch
55No pass
Joel Greenblatt
33No pass
Charlie Munger
52No pass
Terry Smith
34No pass
Prices: daily closes to Oct 30, 2026. Fundamentals: company reports via invest-like data. invest-like is an educational tool and not investment advice.