National Grid plc transmits and distributes electricity and natural gas.
National Grid Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||UK£8.97|
|52 Week High||UK£8.05|
|52 Week Low||UK£9.84|
|1 Month Change||-7.22%|
|3 Month Change||-4.86%|
|1 Year Change||-4.98%|
|3 Year Change||8.38%|
|5 Year Change||-22.89%|
|Change since IPO||206.59%|
Recent News & Updates
These 4 Measures Indicate That National Grid (LON:NG.) Is Using Debt Extensively
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Are Investors Undervaluing National Grid plc (LON:NG.) By 22%?
Does the September share price for National Grid plc ( LON:NG. ) reflect what it's really worth? Today, we will...
Shareholders May Not Be So Generous With National Grid plc's (LON:NG.) CEO Compensation And Here's Why
The share price of National Grid plc ( LON:NG. ) has increased significantly over the past few years. However, the...
|NG.||GB Integrated Utilities||GB Market|
Return vs Industry: NG. underperformed the UK Integrated Utilities industry which returned 7.4% over the past year.
Return vs Market: NG. underperformed the UK Market which returned 22.9% over the past year.
Stable Share Price: NG. is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: NG.'s weekly volatility (2%) has been stable over the past year.
About the Company
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures (NGV) and Other segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,236 kilometers of overhead lines.
National Grid Fundamentals Summary
|NG. fundamental statistics|
Is NG. overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|NG. income statement (TTM)|
|Cost of Revenue||UK£0|
Last Reported Earnings
Mar 31, 2021
Next Earnings Date
Nov 18, 2021
|Earnings per share (EPS)||0.45|
|Net Profit Margin||11.10%|
How did NG. perform over the long term?See historical performance and comparison
5.5%Current Dividend Yield
Is National Grid undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: NG. (£8.97) is trading below our estimate of fair value (£13.19)
Significantly Below Fair Value: NG. is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: NG. is poor value based on its PE Ratio (19.8x) compared to the European Integrated Utilities industry average (15.8x).
PE vs Market: NG. is good value based on its PE Ratio (19.8x) compared to the UK market (21.4x).
Price to Earnings Growth Ratio
PEG Ratio: NG. is poor value based on its PEG Ratio (2x)
Price to Book Ratio
PB vs Industry: NG.'s PB Ratio (1.6x) is in line with the XE Integrated Utilities industry average.
How is National Grid forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: NG.'s forecast earnings growth (9.8% per year) is above the savings rate (0.9%).
Earnings vs Market: NG.'s earnings (9.8% per year) are forecast to grow slower than the UK market (13% per year).
High Growth Earnings: NG.'s earnings are forecast to grow, but not significantly.
Revenue vs Market: NG.'s revenue (3.9% per year) is forecast to grow slower than the UK market (4.9% per year).
High Growth Revenue: NG.'s revenue (3.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: NG.'s Return on Equity is forecast to be low in 3 years time (10.8%).
How has National Grid performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: NG. has high quality earnings.
Growing Profit Margin: NG.'s current net profit margins (11.1%) are higher than last year (8.8%).
Past Earnings Growth Analysis
Earnings Trend: NG.'s earnings have declined by 6.9% per year over the past 5 years.
Accelerating Growth: NG.'s earnings growth over the past year (28.8%) exceeds its 5-year average (-6.9% per year).
Earnings vs Industry: NG. earnings growth over the past year (28.8%) underperformed the Integrated Utilities industry 28.8%.
Return on Equity
High ROE: NG.'s Return on Equity (8.3%) is considered low.
How is National Grid's financial position?
Financial Position Analysis
Short Term Liabilities: NG.'s short term assets (£9.9B) exceed its short term liabilities (£9.4B).
Long Term Liabilities: NG.'s short term assets (£9.9B) do not cover its long term liabilities (£38.0B).
Debt to Equity History and Analysis
Debt Level: NG.'s debt to equity ratio (157.6%) is considered high.
Reducing Debt: NG.'s debt to equity ratio has reduced from 222.9% to 157.6% over the past 5 years.
Debt Coverage: NG.'s debt is not well covered by operating cash flow (14.3%).
Interest Coverage: NG.'s interest payments on its debt are well covered by EBIT (3.7x coverage).
What is National Grid current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: NG.'s dividend (5.48%) is higher than the bottom 25% of dividend payers in the UK market (1.4%).
High Dividend: NG.'s dividend (5.48%) is in the top 25% of dividend payers in the UK market (4.02%)
Stability and Growth of Payments
Stable Dividend: NG.'s dividends per share have been stable in the past 10 years.
Growing Dividend: NG.'s dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (105.6%), NG.'s dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: NG.'s dividends in 3 years are forecast to be covered by earnings (76.9% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
John Pettigrew (52 yo)
Mr. John Pettigrew, FEI, FIET, has been Chief Executive Officer at National Grid USA since April 01, 2016. Mr. Pettigrew has been the Chief Executive Officer at National Grid plc since April 1, 2016 and as...
CEO Compensation Analysis
Compensation vs Market: John's total compensation ($USD6.98M) is above average for companies of similar size in the UK market ($USD3.87M).
Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.
Experienced Management: NG.'s management team is considered experienced (3.3 years average tenure).
Experienced Board: NG.'s board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: NG. insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.7%.
National Grid plc's employee growth, exchange listings and data sources
- Name: National Grid plc
- Ticker: NG.
- Exchange: LSE
- Founded: 1990
- Industry: Multi-Utilities
- Sector: Utilities
- Market Cap: UK£32.452b
- Shares outstanding: 3.62b
- Website: https://www.nationalgridet.com
Number of Employees
- National Grid plc
- 1-3 Strand
- Greater London
- WC2N 5EH
- United Kingdom
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/16 17:57|
|End of Day Share Price||2021/10/15 00:00|
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.