National Grid plc

LSE:NG. Stock Report

Market Cap: UK£45.4b

National Grid Past Earnings Performance

Past criteria checks 1/6

National Grid has been growing earnings at an average annual rate of 15%, while the Integrated Utilities industry saw earnings growing at 8.7% annually. Revenues have been growing at an average rate of 9.9% per year. National Grid's return on equity is 4.8%, and it has net margins of 8.9%.

Key information

15.0%

Earnings growth rate

12.0%

EPS growth rate

Integrated Utilities Industry Growth8.1%
Revenue growth rate9.9%
Return on equity4.8%
Net Margin8.9%
Last Earnings Update30 Sep 2024

Recent past performance updates

There May Be Some Bright Spots In National Grid's (LON:NG.) Earnings

May 30
There May Be Some Bright Spots In National Grid's (LON:NG.) Earnings

Recent updates

These 4 Measures Indicate That National Grid (LON:NG.) Is Using Debt Extensively

Nov 27
These 4 Measures Indicate That National Grid (LON:NG.) Is Using Debt Extensively

National Grid (LON:NG.) Has Announced That Its Dividend Will Be Reduced To £0.1584

Nov 12
National Grid (LON:NG.) Has Announced That Its Dividend Will Be Reduced To £0.1584

Estimating The Intrinsic Value Of National Grid plc (LON:NG.)

Jul 29
Estimating The Intrinsic Value Of National Grid plc (LON:NG.)

There May Be Some Bright Spots In National Grid's (LON:NG.) Earnings

May 30
There May Be Some Bright Spots In National Grid's (LON:NG.) Earnings

National Grid (LON:NG.) Will Pay A Larger Dividend Than Last Year At £0.3912

May 26
National Grid (LON:NG.) Will Pay A Larger Dividend Than Last Year At £0.3912

Are Investors Undervaluing National Grid plc (LON:NG.) By 25%?

Apr 14
Are Investors Undervaluing National Grid plc (LON:NG.) By 25%?

Is National Grid (LON:NG.) A Risky Investment?

Mar 05
Is National Grid (LON:NG.) A Risky Investment?

Some Confidence Is Lacking In National Grid plc's (LON:NG.) P/E

Jan 07
Some Confidence Is Lacking In National Grid plc's (LON:NG.) P/E

Revenue & Expenses Breakdown

How National Grid makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

LSE:NG. Revenue, expenses and earnings (GBP Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Sep 2419,3221,724700
30 Jun 2419,5861,970750
31 Mar 2419,8502,216790
31 Dec 2320,2772,3871220
30 Sep 2320,7042,5581640
30 Jun 2321,1822,6361500
31 Mar 2321,6592,7141350
31 Dec 2221,3062,8701310
30 Sep 2220,9523,0261270
30 Jun 2219,7012,6041470
31 Mar 2218,4492,1821670
31 Dec 2116,4961,6852230
30 Sep 2114,5421,1872790
30 Jun 2114,1041,2453280
31 Mar 2113,6651,3033760
31 Dec 2012,8101,0963680
30 Sep 2014,3151,3773370
30 Jun 2014,4281,3252970
31 Mar 2013,3601,0292680
31 Dec 1914,7081,3662590
30 Sep 1914,8751,4582600
30 Jun 1914,9041,4792320
31 Mar 1914,9331,4992030
31 Dec 1814,9232,425-6590
30 Sep 1814,9133,3501,6800
30 Jun 1815,0823,4491,6910
31 Mar 1815,2503,5481010
31 Dec 1715,3452,5771,6800
30 Sep 1715,4391,6061,6570
30 Jun 1715,2371,7091,6650
31 Mar 1715,0351,8111,6730
30 Sep 1612,6381,6851,4290
30 Jun 1612,9251,7931,4320
31 Mar 1613,2121,8991,4340
31 Dec 1515,4032,3751,5880
30 Sep 1515,6912,1581,5610
30 Jun 1515,4462,0891,5590
31 Mar 1513,3571,5031,3650
31 Dec 1414,8272,0811,3700
30 Sep 1414,4522,1421,4530
30 Jun 1414,6312,3091,4650
31 Mar 1414,8092,4761,3410
31 Dec 1314,9052,4461,5230

Quality Earnings: NG. has a large one-off loss of £1.0B impacting its last 12 months of financial results to 30th September, 2024.

Growing Profit Margin: NG.'s current net profit margins (8.9%) are lower than last year (12.4%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: NG.'s earnings have grown by 15% per year over the past 5 years.

Accelerating Growth: NG.'s has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: NG. had negative earnings growth (-32.6%) over the past year, making it difficult to compare to the Integrated Utilities industry average (3.3%).

Return on Equity

High ROE: NG.'s Return on Equity (4.8%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 00:53
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

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 here.

Analysis Model and Snowflake

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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.

AnalystInstitution
Juan RodriguezAlphaValue
Gary HovisArgus Research Company
Dominic NashBarclays