National Grid

NG · LSE · GBp

1,146.50 GBp+1.10%+12.50 GBp

Close · October 2, 2026

At a glance

Revenue growth: −3.76%; FY to Mar 2026 vs FY to Mar 2025
Net income growth: +11.68%; FY to Mar 2026 vs FY to Mar 2025
Net margin: 18.3%; FY to Mar 2025: 15.8%

Financial data

Amounts in millions of GBP; per-share values in GBP; shares in millions.

Balance sheet · Annual
Item	FY to Mar 2026	FY to Mar 2025	FY to Mar 2024	FY to Mar 2023	FY to Mar 2022	FY to Mar 2021	FY to Mar 2020	FY to Mar 2019	FY to Mar 2018	FY to Mar 2017
Total assets	108,281	106,742	98,325	92,697	94,860	67,216	67,560	63,412	58,787	65,840
Current assets	7,485	14,332	10,379	9,113	17,963	9,938	5,801	7,946	6,681	13,574
Cash and equivalents	375	1,178	559	163	204	157	73.0	252	329	1,139
Short-term investments	539	597	615	841	853	—	—	—	—	—
Inventory	559	557	828	876	—	—	—	—	—	—
Net property, plant and equipment	81,520	74,091	68,907	64,433	57,532	47,043	49,762	44,859	39,853	39,825
Goodwill	9,417	9,532	9,729	9,847	9,532	4,588	5,712	5,372	5,444	6,096
Other intangible assets	3,879	3,564	3,431	3,604	—	—	—	—	—	—
Long-term investments	624	608	1,420	1,300	—	—	—	—	—	—
Current liabilities	9,797	10,621	11,389	9,130	24,770	9,368	8,564	9,129	8,697	10,511
Accounts payable	3,374	2,965	2,786	3,249	—	—	—	—	—	—
Long-term debt	42,107	42,168	41,548	39,412	—	—	—	—	—	—
Total debt	47,705	46,451	46,754	43,264	45,153	31,359	30,659	28,730	27,364	28,980
Total liabilities	68,951	68,916	68,433	63,135	71,004	47,356	47,767	43,844	39,939	45,456
Total equity (incl. minority)	39,330	37,826	29,892	29,562	23,856	—	—	—	—	—
Retained earnings	41,909	40,106	32,066	31,608	26,611	23,163	21,895	21,999	21,599	22,582
Minority interest	31.0	23.0	25.0	24.0	23.0	21.0	22.0	20.0	16.0	16.0