National Grid Balance Sheet Health
Financial Health criteria checks 3/6
National Grid has a total shareholder equity of £35.9B and total debt of £46.4B, which brings its debt-to-equity ratio to 129.5%. Its total assets and total liabilities are £101.9B and £66.0B respectively. National Grid's EBIT is £5.0B making its interest coverage ratio 3.5. It has cash and short-term investments of £7.3B.
Key information
129.5%
Debt to equity ratio
UK£46.45b
Debt
| Interest coverage ratio | 3.5x |
| Cash | UK£7.27b |
| Equity | UK£35.87b |
| Total liabilities | UK£65.99b |
| Total assets | UK£101.85b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: NGG N's short term assets (£14.5B) exceed its short term liabilities (£9.0B).
Long Term Liabilities: NGG N's short term assets (£14.5B) do not cover its long term liabilities (£57.0B).
Debt to Equity History and Analysis
Debt Level: NGG N's net debt to equity ratio (109.3%) is considered high.
Reducing Debt: NGG N's debt to equity ratio has reduced from 168.5% to 129.5% over the past 5 years.
Debt Coverage: NGG N's debt is not well covered by operating cash flow (14.4%).
Interest Coverage: NGG N's interest payments on its debt are well covered by EBIT (3.5x coverage).