National Grid Full Year 2025 Earnings: Misses Expectations

June 02, 2025

National Grid (LON:NG.) Full Year 2025 Results

Key Financial Results

Revenue: UK£18.4b (down 7.4% from FY 2024).
Net income: UK£2.83b (up 28% from FY 2024).
Profit margin: 15% (up from 11% in FY 2024). The increase in margin was driven by lower expenses.
EPS: UK£0.60 (in line with FY 2024).

Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit.

revenue-and-expenses-breakdown — LSE:NG. Revenue and Expenses Breakdown June 2nd 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

Portfolio Valuation calculation on simply wall st

National Grid Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) also missed analyst estimates by 12%.

The primary driver behind last 12 months revenue was the New York segment contributing a total revenue of UK£6.69b (36% of total revenue). Explore how NG.'s revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Integrated Utilities industry in Europe.

Performance of the market in the United Kingdom.

The company's shares are down 4.1% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for National Grid (2 don't sit too well with us!) that you should be aware of.

Valuation is complex, but we're here to simplify it.

Discover if National Grid might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.

Access Free Analysis

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.