National Grid
1,146.50 GBpChange from previous close: +1.10%Absolute change: +12.50 GBp
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.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 7,829 | 6,808 | 6,939 | 6,898 | 6,272 | 4,461 | 4,618 | 4,318 | 4,503 | 5,229 |
| Depreciation and amortization | 2,247 | 2,479 | 2,061 | 1,984 | — | — | — | — | — | — |
| Capital expenditure | -9,989 | -8,780 | -6,904 | -6,325 | -5,098 | — | — | — | — | — |
| Investing cash flow | -4,157 | -10,571 | -7,499 | 240 | -14,010 | -5,116 | -3,195 | -3,446 | 2,567 | -4,314 |
| Financing cash flow | -4,620 | 4,528 | 987 | -7,173 | 7,769 | 750 | -1,606 | -952 | -7,877 | 69.0 |
| Dividends paid | -1,623 | -1,529 | -1,718 | -1,607 | -922 | -1,413 | -892 | -1,160 | -1,316 | -1,463 |
| Share repurchases | -1.0 | -7.0 | -4.0 | — | -3.0 | — | — | — | — | — |
| Debt issued | 4,172 | 4,162 | 6,107 | 11,908 | 12,347 | — | — | — | — | — |
| Debt repaid | -5,331 | -2,991 | -1,819 | -15,926 | -1,389 | — | — | — | — | — |
| Effect of exchange rates | -8.0 | -23.0 | -1.0 | 7.0 | 5.0 | -7.0 | 4.0 | 3.0 | -3.0 | 16.0 |
| Net change in cash | -803 | 619 | 396 | -19.0 | 25.0 | 84.0 | -179 | -77.0 | -810 | 1,015 |
| Free cash flow | -2,160 | -1,972 | 35.0 | 573 | 1,174 | — | — | — | — | — |
| Levered free cash flow | -3,125 | -6,910 | -2,454 | -1,317 | -1,948 | -4,462 | -474 | -1,919 | -783 | -572 |