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.

Income statement · 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 revenue	17,687	18,378	19,850	21,659	18,449	13,665	13,360	14,933	15,250	15,035
Cost of revenue	3,580	4,150	5,272	8,623	—	—	—	—	—	—
Gross profit	14,107	14,228	14,578	13,036	—	—	—	—	—	—
Operating income	5,690	5,447	4,666	4,882	—	—	—	—	—	—
EBIT	5,169	4,990	5,586	4,205	4,205	2,410	2,645	3,558	3,552	3,740
EBITDA	7,026	6,794	7,647	5,840	6,035	3,586	3,931	5,108	5,082	5,088
Interest expense	1,649	1,810	1,723	1,680	—	—	—	—	—	—
Pre-tax income	4,182	3,650	3,048	3,590	3,441	1,664	1,400	1,841	2,660	2,184
Income tax	939	821	831	876	1,258	360	370	339	-889	374
Net income	3,241	2,902	2,290	7,797	2,353	1,640	1,264	1,511	3,550	7,795
Net income to common shareholders	3,241	2,826	2,216	2,714	2,182	1,303	1,029	1,499	3,548	1,811
Basic EPS	0.66	0.60	0.56	0.74	0.61	0.37	0.30	0.44	1.03	0.53
Diluted EPS	0.65	0.60	0.55	0.74	0.60	0.37	0.30	0.44	1.02	0.52
Average shares (basic)	4,946	4,707	3,991	3,659	3,599	3,523	3,461	3,386	3,461	3,449
Average shares (diluted)	4,971	4,729	4,008	3,676	3,616	3,540	3,478	3,401	3,476	3,465
Dividend per share	0.48	0.47	0.59	0.55	0.51	0.49	0.49	0.47	0.46	0.48