NNGF Stock Overview

National Grid plc transmits and distributes electricity and gas. More details

NNGF fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	2/6
Past Performance	1/6
Financial Health	3/6
Dividends	4/6

Rewards

Trading at 24.8% below our estimate of its fair value

Earnings are forecast to grow 15.75% per year

Analysts in good agreement that stock price will rise by 20.9%

Risk Analysis

Debt is not well covered by operating cash flow

Dividend of 5.92% is not well covered by earnings or free cash flows

Significant insider selling over the past 3 months

Shareholders have been diluted in the past year

+ 1 more risk

My Notes

Capture your thoughts, links and company narrative

National Grid plc Competitors

E.ON

XTRA:EOAN

€29.0b

MVV Energie

XTRA:MVV1

€2.0b

Mainova

DB:MNV6

€1.9b

Gelsenwasser

DB:WWG

€1.7b

Price History & Performance

Summary of share price highs, lows and changes for National Grid
Historical stock prices
Current Share Price	UK£11.10
52 Week High	UK£13.50
52 Week Low	UK£9.95
Beta	0.26
1 Month Change	-5.93%
3 Month Change	-11.20%
1 Year Change	-9.76%
3 Year Change	-12.77%
5 Year Change	-2.27%
Change since IPO	55.21%

Recent updates

Shareholder Returns

	NNGF	DE Integrated Utilities	DE Market
7D	-5.1%	-3.0%	-2.6%
1Y	-9.8%	-8.4%	6.9%

Return vs Industry: NNGF underperformed the German Integrated Utilities industry which returned -8.4% over the past year.

Return vs Market: NNGF underperformed the German Market which returned 6.9% over the past year.

Price Volatility

Is NNGF's price volatile compared to industry and market?
NNGF volatility
NNGF Average Weekly Movement	4.1%
Integrated Utilities Industry Average Movement	2.6%
Market Average Movement	4.8%
10% most volatile stocks in DE Market	11.2%
10% least volatile stocks in DE Market	2.4%

Stable Share Price: NNGF has not had significant price volatility in the past 3 months compared to the German market.

Volatility Over Time: NNGF's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1990	31,425	John Pettigrew	www.nationalgrid.com

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.

National Grid plc Fundamentals Summary

How do National Grid's earnings and revenue compare to its market cap?
NNGF fundamental statistics
Market cap	€54.68b
Earnings (TTM)	€2.08b
Revenue (TTM)	€23.29b

26.3x

P/E Ratio

2.3x

P/S Ratio

Is NNGF overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
NNGF income statement (TTM)
Revenue	UK£19.32b
Cost of Revenue	UK£0
Gross Profit	UK£19.32b
Other Expenses	UK£17.60b
Earnings	UK£1.72b

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.35
Gross Margin	100.00%
Net Profit Margin	8.92%
Debt/Equity Ratio	129.5%

How did NNGF perform over the long term?

See historical performance and comparison

Dividends

5.9%

Current Dividend Yield

131%

Payout Ratio

Does NNGF pay a reliable dividends?

See NNGF dividend history and benchmarks

When do you need to buy NNGF by to receive an upcoming dividend?
National Grid dividend dates
Ex Dividend Date	Nov 21 2024
Dividend Pay Date	Jan 14 2025
Days until Ex dividend	32 days
Days until Dividend pay date	22 days

Does NNGF pay a reliable dividends?

See NNGF dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/22 23:27
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2024/03/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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 here.

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 .

Analyst Sources

National Grid plc is covered by 40 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.

Analyst	Institution
Juan Rodriguez	AlphaValue
Gary Hovis	Argus Research Company
Dominic Nash	Barclays

NNGF Stock Overview

Rewards

Risk Analysis

National Grid plc Competitors

XTRA:EOAN

€29.0b

XTRA:MVV1

€2.0b

DB:MNV6

€1.9b

DB:WWG

€1.7b

Price History & Performance

Recent News & Updates

National Grid Appoints Steve Smith as Chief Strategy and Regulation Officer

First half dividend of UK£0.16 announced

First half 2025 earnings released: EPS: UK£0.13 (vs UK£0.29 in 1H 2024)

Now 21% undervalued

Now 20% undervalued

CEO & Executive Director recently sold €2.7m worth of stock

Recent updates

National Grid Appoints Steve Smith as Chief Strategy and Regulation Officer

First half dividend of UK£0.16 announced

First half 2025 earnings released: EPS: UK£0.13 (vs UK£0.29 in 1H 2024)

Now 21% undervalued

Now 20% undervalued

CEO & Executive Director recently sold €2.7m worth of stock

National Grid plc Provides Earnings Guidance for the Six Months Ended September 30, 2024

A consortium of investors led by Macquarie Asset Management completed the acquisition of the remaining 20% equity interest in National Gas Transmission Plc from National Grid plc (LSE:NG.).

Now 21% undervalued

Now 22% undervalued after recent price drop

National Grid Announces Executive Changes

New minor risk - Share price stability

CEO & Executive Director recently sold €2.1m worth of stock

National Grid Appoints Julian Baddeley as Group Company Secretary, with Effect from 1 July 2024

Now 23% undervalued after recent price drop

New minor risk - Shareholder dilution

National Grid plc(LSE:NGPN) dropped from FTSE 100 Index

Final dividend of UK£0.39 announced

National Grid plc Recommends Final Dividend

National Grid plc has filed a Follow-on Equity Offering in the amount of £7.001146 billion.

Now 29% undervalued after recent price drop

Now 22% undervalued after recent price drop

National Grid plc to Report Fiscal Year 2024 Results on May 23, 2024

National Grid plc Announces Board Changes

National Grid plc Approves Interim Dividend, Payable on 11 January 2024

Now 20% undervalued

Upcoming dividend of UK£0.19 per share at 5.5% yield

First half 2024 earnings released: EPS: UK£0.29 (vs UK£0.33 in 1H 2023)

Now 22% undervalued after recent price drop

National Grid Receives $50 Million Grant from the U.S. Department of Energy

National Grid Announces Alisha Collins as Director, Community Impact & Engagement in New England

National Grid plc to Report First Half, 2024 Results on Nov 09, 2023

Now 20% undervalued after recent price drop

National Grid plc Announces Director & Committee Changes

Now 21% undervalued after recent price drop

National Grid Announces Lisa Wieland as President of its New England business

National Grid Appoints Jim McGaugh as U.S. Head of Corporate Affairs

Upcoming dividend of UK£0.38 per share at 5.1% yield

National Grid plc Proposes Final Dividend for the Year Ended March 31, 2023, Payable on August 9, 2023

Full year 2023 earnings released: EPS: UK£0.74 (vs UK£0.61 in FY 2022)

Thérèse Esperdy Decides to Step Down from the Board of National Grid as Non-Executive Director, Effective 31 December 2023

British Columbia Investment Management Corporation and Macquarie Asset Management Inc. completed the acquisition of a 60% stake in National Grid Gas from National Grid plc (LSE:NG.).

National Grid plc Announces Board Changes

Upcoming dividend of UK£0.18 per share

High number of new directors

First half 2023 earnings released: EPS: UK£0.31 (vs UK£0.10 in 1H 2022)

National Grid plc Approves Interim Dividend, Payable on 11 January 2023

Now 20% undervalued after recent price drop

DT Midstream, Inc. (NYSE:DTM) completed the acquisition of an additional 26.25% ownership interest in Millennium Pipeline from National Grid plc (LSE:NG.).

DT Midstream, Inc. (NYSE:DTM) completed the acquisition of an additional 26.25% ownership interest in Millennium Pipeline from National Grid plc (LSE:NG.).

DT Midstream, Inc. (NYSE:DTM) has entered into an agreement to acquire an additional 26.25% ownership interest in Millennium Pipeline from National Grid plc (LSE:NG.) for approximately $550 million.

National Grid plc Appoints Iain Mackay as Director

Upcoming dividend of UK£0.34 per share

National Grid plc to Report Q2, 2023 Results on Nov 10, 2022

Full year 2022 earnings released

National Grid plc Provides Earnings Guidance for the 2022/23

British Columbia Investment Management Corporation and Macquarie Asset Management Inc. signed an agreement to acquire a 60% stake in UK gas transmission and metering business of National Grid plc from National Grid plc (LSE:NG.) for £9.6 billion.

British Columbia Investment Management Corporation and Macquarie Asset Management Inc. signed an agreement to acquire a 60% stake in UK gas transmission and metering business of National Grid plc from National Grid plc (LSE:NG.) for £9.6 billion.

Macquarie Reportedly Weighs Bid for Stake in National Grid's Gas Unit