National Grid PLC (NGG)

NYSE: NGG · Natural Gas Transmission · London, GB · filing with the SEC since 2000

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Grade4.0

◀ Past 5.2● Present 3.7▶ Future 3.4

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of National Grid PLC

Nine metrics read from its own filings, by tense

Headline grade

4.0/10

◀ Past5.225% of the headline

● Present3.745% of the headline

▶ Future3.430% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.2/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed

6.6/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 45% of this tense · 66th percentile among 16 sector filers · read for itself

From the record

National Grid PLC's filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

4.0/10

What has it actually done, year after year?

+3.7% a year over 10 filed years; profitable in 10 of 10.

weight 22% of this tense · 40th percentile among 16 sector filers · read for its customers

From the record

National Grid PLC's 10 filed years say what it did: revenue went from GBP 13 billion in fiscal 2016 to GBP 18 billion in fiscal 2025, up 3.7% a year; it rose in 5 of 9 years; the deepest fall was 15% from fiscal 2023 to fiscal 2025; net income was positive in 10 of 10 of those years (its annual reports).

What it rests on

revenue growth over the filed span3.7%bottom 22% of its family
the share of years revenue rosebottom 25% of its family
the share of filed years with a profittop 22% of its family
the deepest fall from a revenue peak15.1%bottom 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

4.3/10

How has it treated the people who own it?

Share count grew 6.5% a year. 37% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 33% of this tense · 43rd percentile among 13 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-03-31, National Grid PLC's diluted share count grew about 6.5% a year, and dividends and buybacks returned about 37% of its net income over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearsbottom 27% of its family
cash returned against operating cash flowtop 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

3.7/1045% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.3/10

Is it financially healthy right now?

ROE 8%: 8¢ of profit per shareholder dollar. Leverage 65%: owes 65¢ per asset dollar.

weight 45% of this tense · 33rd percentile among 12 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-03-31, National Grid PLC earned about 8 cents of profit for every dollar of shareholders' money. Leverage: it owed about 65 cents per dollar of assets, and net share issuance: its share count grew 18.0% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 29% of its family
return on equitybottom 23% of its family
the share count against the year beforebottom 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

3.4/10

How strong is its position in its industry?

bottom 34% of 16 in its family; net margin 15.8%.

weight 33% of this tense · 34th percentile among 16 sector filers · read for its customers

From the record

National Grid PLC's standing among 16 graded names in its industry family: revenue of GBP 18 billion in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of 15.8% ranks in the bottom 41%; revenue growth of -0.1% a year over the last 3 filed years ranks in the bottom 28% (its annual reports).

What it rests on

net margin15.8%bottom 41% of its family
three-year revenue growth-0.1%bottom 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 13 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 13 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned: family median, 13 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: National Grid PLC's leadership is put at 5.0 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 13 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

3.4/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

5.5/10

How much room does it have to grow?

top 45% of 16 in its family for room to expand.

weight 22% of this tense · 55th percentile among 16 sector filers · read for itself

From the record

National Grid PLC's room to grow, from the newest filed statements (fiscal 2025): cash of GBP 1.2 billion against debt of GBP 48 billion leaves -43.4% of its assets as net cash, top 41% of its family; research spending of 0.2% of revenue (top 50%) (its annual report).

What it rests on

cash less debt against assets-43.4%top 41% of its family
research spending against revenue0.2%top 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

4.2/10

What could actually drive growth from here?

bottom 42% of 16 in its family for growth drivers.

weight 45% of this tense · 42nd percentile among 16 sector filers · read for its customers

From the record

National Grid PLC's growth drivers, from the filed years to fiscal 2025: revenue grew -0.1% a year over the last three filed years against 3.7% over all 10, slowing (top 47% of its family); the newest year grew -7.4% (bottom 9%); research spending grew 57.5% a year (top 50%); capital spending grew 19.9% a year (top 43%) (its annual reports). National Grid PLC tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-3.9 points a yeartop 47% of its family
the newest year's revenue growth-7.4%bottom 9% of its family
three-year growth of research spending57.5%top 50% of its family
three-year growth of capital spending19.9%top 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

1.0/10

Did its newest year beat what its own record pointed to?

bottom 10% of 15 in its family for expectations against reality.

weight 33% of this tense · 10th percentile among 15 sector filers · read for its shareholders

From the record

National Grid PLC's newest year against its own record: revenue of GBP 18 billion in fiscal 2025 came in 10.7% below the GBP 21 billion its prior three years' pace pointed to (bottom 10% of its family); net income of GBP 2.9 billion against a prior three-year average of GBP 4.1 billion (bottom 10%); a net margin of 15.8% against 20.1% before (bottom 10%) (its annual reports).

What it rests on

revenue against the prior three years' pace-10.7%bottom 10% of its family
net income against the prior three years' average-30%bottom 10% of its family
net margin against its prior average-4.3 pointsbottom 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton NGG · research, not advice