National Grid Future Growth

Future criteria checks 1/6

National Grid is forecast to grow earnings and revenue by 6.1% and 6.2% per annum respectively. EPS is expected to grow by 4.4% per annum. Return on equity is forecast to be 9.7% in 3 years.

Key information

6.1%

Earnings growth rate

4.4%

EPS growth rate

Integrated Utilities earnings growth	9.0%
Revenue growth rate	6.2%
Future return on equity	9.7%
Analyst coverage	Good
Last updated	01 May 2024

Recent future growth updates

Recent updates

Energy Is On The Frontline Of The War And National Grid Constitutes Europe's Salvo

Nov 07

National Grid's Utility Upside

Sep 12

National Grid: Solid Utility, But Limited Upside

Jun 28

National Grid: Stable Yield And Results From Utilities At A High Price

Jun 17

National Grid: A Hold For Now

Mar 31

National Grid Insulated From RIIO Changes With U.S. Exposure

Feb 10

National Grid: Upside Is There, But It's Still Expensive

Dec 03

National Grid And The Electrification Of Everything

Sep 11

National Grid: A Dividend Cut Appears Likely Despite Being A Utility

Jul 30

National Grid: A 'Consistently Not Stupid' Buy

Jan 31

National Grid Is The Clear Winner In The Dividend Bout Against Utility ConEd

Dec 03

Dividend Safety Net Is Still A Concern As National Grid Shares Bounce Back

Nov 25

National Grid goes ex-dividend tomorrow

Nov 24

National Grid seeks higher revenue, 10.5% RoE for Mass gas business

Nov 16

National Grid reports F1H results

Nov 12

U.K. regulators considering National Grid breakup -Telegraph

Nov 09

Earnings and Revenue Growth Forecasts

NYSE:NGG - Analysts future estimates and past financials data (GBP Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
3/31/2027	24,329	3,355	-3,560	7,757	5
3/31/2026	21,683	3,067	-4,141	6,995	11
3/31/2025	21,217	2,879	-3,881	6,419	12
3/31/2024	21,552	2,758	-2,865	6,358	11
9/30/2023	20,704	2,558	342	7,231	N/A
6/30/2023	21,182	2,636	174	7,065	N/A
3/31/2023	21,659	2,714	6	6,898	N/A
12/31/2022	21,306	2,917	-65	6,641	N/A
9/30/2022	20,952	3,026	-137	6,383	N/A
6/30/2022	19,701	2,604	296	6,328	N/A
3/31/2022	18,449	2,182	728	6,272	N/A
12/31/2021	16,496	1,685	475	5,678	N/A
9/30/2021	14,542	1,187	222	5,084	N/A
6/30/2021	14,104	1,245	38	4,773	N/A
3/31/2021	13,665	1,303	-147	4,461	N/A
12/31/2020	12,810	1,096	21	4,462	N/A
9/30/2020	14,315	1,377	-439	4,462	N/A
6/30/2020	14,428	1,325	-360	4,540	N/A
3/31/2020	13,360	1,029	32	4,618	N/A
12/31/2019	14,708	1,366	-94	4,499	N/A
9/30/2019	14,875	1,458	93	4,380	N/A
6/30/2019	14,904	1,479	235	4,349	N/A
3/31/2019	14,933	1,499	377	4,318	N/A
12/31/2018	14,923	2,425	426	4,384	N/A
9/30/2018	14,913	3,350	474	4,449	N/A
6/30/2018	15,082	3,449	533	4,476	N/A
3/31/2018	15,250	3,548	592	4,503	N/A
12/31/2017	15,345	2,577	972	4,793	N/A
9/30/2017	15,439	1,606	1,352	5,083	N/A
6/30/2017	15,237	1,709	N/A	5,156	N/A
3/31/2017	15,035	1,811	N/A	5,229	N/A
9/30/2016	12,638	1,685	N/A	4,933	N/A
6/30/2016	12,925	1,793	N/A	5,151	N/A
3/31/2016	13,212	1,899	N/A	5,368	N/A
12/31/2015	15,403	2,375	N/A	5,236	N/A
9/30/2015	15,691	2,158	N/A	5,103	N/A
6/30/2015	15,446	2,089	N/A	5,055	N/A
3/31/2015	13,357	1,503	N/A	5,007	N/A
12/31/2014	14,827	2,081	N/A	4,876	N/A
9/30/2014	14,452	2,142	N/A	4,744	N/A
6/30/2014	14,631	2,309	N/A	4,382	N/A
3/31/2014	14,809	2,476	N/A	4,019	N/A
12/31/2013	14,905	2,446	N/A	3,889	N/A
9/30/2013	15,001	2,416	N/A	3,758	N/A
6/30/2013	14,680	2,285	N/A	3,754	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: NGG's forecast earnings growth (6.1% per year) is above the savings rate (2.4%).

Earnings vs Market: NGG's earnings (6.1% per year) are forecast to grow slower than the US market (14.1% per year).

High Growth Earnings: NGG's earnings are forecast to grow, but not significantly.

Revenue vs Market: NGG's revenue (6.2% per year) is forecast to grow slower than the US market (8.2% per year).

High Growth Revenue: NGG's revenue (6.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: NGG's Return on Equity is forecast to be low in 3 years time (9.7%).

National Grid Future Growth

Future criteria checks 1/6

Key information

Recent future growth updates

National Grid plc Provides Earnings Guidance for the 2022/23

Recent updates

National Grid Faces New Challenges With Electrification Growth

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

National Grid: Clean Energy Transition Continues

National Grid plc Announces Board Changes

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

National Grid: Grid Investments Could Power Growth

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

National Grid: Regulators Cap Upside In The U.K.

National Grid plc Announces Director & Committee Changes

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

National Grid Is Becoming Interesting Again (Rating Upgrade)

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

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

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: Bearish Technicals After A Strong Late-2022 Rally

National Grid plc Announces Board Changes

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

Energy Is On The Frontline Of The War And National Grid Constitutes Europe's Salvo

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's Utility Upside

National Grid plc Appoints Iain Mackay as Director

National Grid: Solid Utility, But Limited Upside

National Grid: Stable Yield And Results From Utilities At A High Price

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

National Grid plc Provides Earnings Guidance for the 2022/23

National Grid: A Hold For Now

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

National Grid Insulated From RIIO Changes With U.S. Exposure

National Grid plc Announces Mark Williamson Step Down as Director

National Grid: Upside Is There, But It's Still Expensive

National Grid And The Electrification Of Everything

National Grid: A Dividend Cut Appears Likely Despite Being A Utility

National Grid plc (LSE:NG.) completed the acquisition of Western Power Distribution plc from PPL WPD Investments Limited.

National Grid Launches Electric Vehicle Road Trip to Highlight Northeast Charging Infrastructure

National Grid plc Recommends Final Dividend for Fiscal 2021

National Grid plc (LSE:NG.) entered into a sale and purchase agreement to acquire Western Power Distribution plc from PPL WPD Investments Limited for £7.8 billion.