National Grid plc

BRSE:NNGF Stock Report

Market Cap: CHF 63.8b

National Grid Valuation

Is NNGF undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of NNGF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: NNGF (CHF12.76) is trading below our estimate of future cash flow value (CHF13.61)

Significantly Below Future Cash Flow Value: NNGF is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NNGF?

Key metric: As NNGF is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NNGF. This is calculated by dividing NNGF's market cap by their current earnings.
What is NNGF's PE Ratio?
PE Ratio18.4x
EarningsUK£3.24b
Market CapUK£59.68b

Price to Earnings Ratio vs Peers

How does NNGF's PE Ratio compare to its peers?

The above table shows the PE ratio for NNGF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.1x
D Dominion Energy
20.1x9.63%US$58.3b
ED Consolidated Edison
18.4x7.93%US$39.2b
BKW BKW
20.7x8.38%CHF 7.4b
PEG Public Service Enterprise Group
17.3x5.27%US$39.2b
NNGF National Grid
18.4x11.21%CHF 59.7b

Price-To-Earnings vs Peers: NNGF is good value based on its Price-To-Earnings Ratio (18.4x) compared to the peer average (19.1x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does NNGF's PE Ratio compare vs other companies in the Global Integrated Utilities Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
NNGF 18.4xIndustry Avg. 18.6xNo. of Companies8PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NNGF is expensive based on its Price-To-Earnings Ratio (18.4x) compared to the Global Integrated Utilities industry average (18.3x).

Price to Earnings Ratio vs Fair Ratio

What is NNGF's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NNGF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NNGF's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NNGF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 12.76
CHF 14.58
+14.26%
9.40%CHF 16.24CHF 11.29n/a16
Jun ’27n/a
CHF 14.57
0%
9.08%CHF 16.15CHF 11.22n/a16
May ’27n/a
CHF 14.68
0%
9.15%CHF 16.45CHF 11.35n/a16
Apr ’27n/a
CHF 14.41
0%
11.08%CHF 16.38CHF 11.31n/a16
Mar ’27n/a
CHF 13.17
0%
8.53%CHF 14.83CHF 11.18n/a16
Feb ’27n/a
CHF 13.13
0%
8.20%CHF 15.03CHF 11.41n/a16
Jan ’27n/a
CHF 12.73
0%
7.14%CHF 13.84CHF 11.39n/a15
Dec ’26n/a
CHF 12.50
0%
7.25%CHF 13.77CHF 11.34n/a15
Nov ’26n/a
CHF 12.44
0%
5.87%CHF 13.32CHF 11.31n/a15
Oct ’26n/a
CHF 12.57
0%
5.61%CHF 13.44CHF 11.42n/a16
Sep ’26n/a
CHF 12.72
0%
5.44%CHF 13.65CHF 11.59n/a16
Aug ’26n/a
CHF 12.61
0%
4.98%CHF 13.46CHF 11.43n/a16
Jul ’26n/a
CHF 12.80
0%
4.82%CHF 13.61CHF 11.65n/a16
Jun ’26n/a
CHF 12.88
0%
5.96%CHF 13.86CHF 10.75n/a16
May ’26n/a
CHF 12.54
0%
5.84%CHF 13.53CHF 10.72n/a16
Apr ’26n/a
CHF 12.95
0%
5.59%CHF 14.01CHF 11.09n/a16
Mar ’26n/a
CHF 12.80
0%
5.96%CHF 13.91CHF 11.02n/a16
Feb ’26n/a
CHF 12.65
0%
5.92%CHF 13.78CHF 10.91n/a16
Jan ’26n/a
CHF 12.72
0%
5.77%CHF 13.83CHF 10.95n/a16
Dec ’25n/a
CHF 12.75
0%
6.02%CHF 13.94CHF 10.99n/a15
Nov ’25n/a
CHF 12.60
0%
5.77%CHF 13.86CHF 10.93n/a15
Oct ’25n/a
CHF 12.64
0%
6.30%CHF 13.84CHF 10.92n/a15
Sep ’25n/a
CHF 12.20
0%
6.00%CHF 13.24CHF 10.70n/a15
Aug ’25n/a
CHF 12.31
0%
6.00%CHF 13.36CHF 10.80n/a15
Jul ’25n/a
CHF 12.61
0%
5.88%CHF 13.70CHF 11.08n/a15
Jun ’25n/a
CHF 12.99
0%
9.36%CHF 15.70CHF 10.58n/a15
CHF 14.56
Fair Value
12.4% undervalued intrinsic discount
16
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/11 18:21
End of Day Share Price 2026/06/08 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

National Grid plc is covered by 28 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gary HovisArgus Research Company
Dominic NashBarclays
Daniel FordBarclays