National Grid revenue and financials

NGG · NYSE · USD

Secondary listing. The primary listing is National Grid · LSE (GBp)

$76.02−0.13%−$0.10

Close · October 5, 2026

In the fiscal year ended March 2026, National Grid reported revenue of £17.69B (−3.76% year over year). Net income was £3.24B, a net margin of 18.3%.

Annual revenue · 2026: £17.69B

Fiscal year ending in March. Sources and method on the page Methodology and sources.

At a glance

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	—	—	—	—	—	—
Research and development	—	43.0	32.0	23.0	11.0	12.0	9.0	19.0	13.0	14.0
Operating income	5,690	4,934	4,475	4,879	4,371	2,401	2,279	2,870	3,493	3,208
EBIT	5,831	5,460	4,771	5,270	—	—	—	—	—	—
EBITDA	8,078	7,939	6,832	7,254	—	—	—	—	—	—
Interest expense	1,649	1,807	1,712	1,598	1,072	853	1,020	1,157	1,009	1,140
Pre-tax income	4,182	3,650	3,048	3,590	—	—	—	—	—	—
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	2,902	2,290	7,797	—	—	—	—	—	—
Basic EPS	3.28	0.62	0.57	1.97	0.65	0.47	0.37	0.45	1.03	2.07
Diluted EPS	3.26	0.61	0.57	1.96	0.65	0.46	0.36	0.44	1.02	2.06
Average shares (basic)	989	—	803	796	783	—	—	—	—	—
Average shares (diluted)	994	—	807	800	787	—	—	—	—	—