NGG
National Grid PLC ADR
NYSE: NGG · UTILITIES · UTILITIES - REGULATED ELECTRIC
$89.54
+4.14% today
Updated 2026-04-30
Market cap
$85.52B
P/E ratio
21.28
P/S ratio
4.89x
EPS (TTM)
$4.04
Dividend yield
3.63%
52W range
$64 – $95
Volume
1.1M
National Grid PLC ADR (NGG) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.19B | $8.78B | $11.50B | $15.69B | $14.01B | $14.34B | $13.83B | $14.36B | $14.81B | $15.20B | $13.21B | $15.04B | $15.25B | $14.93B | $13.36B | $18.45B | $18.45B | $21.66B | $19.85B | $18.38B |
| Revenue growth (YoY) | — | -4.5% | +31.0% | +36.4% | -10.7% | +2.4% | -3.6% | +3.8% | +3.1% | +2.6% | -13.1% | +13.8% | +1.4% | -2.1% | -10.5% | +38.1% | +0.0% | +17.4% | -8.4% | -7.4% |
| Cost of revenue | $4.55B | $6.26B | $6.36B | $10.49B | $3.81B | $3.50B | $2.97B | $2.46B | $3.22B | $3.10B | $2.29B | $2.38B | $2.84B | $3.15B | $4.04B | $6.10B | $6.10B | $8.62B | $5.27B | $4.15B |
| Gross profit | $4.64B | $2.51B | $5.14B | $5.20B | $10.19B | $10.84B | $10.86B | $11.90B | $11.59B | $12.10B | $10.92B | $12.65B | $12.41B | $11.79B | $9.32B | $12.35B | $12.35B | $13.04B | $14.58B | $14.23B |
| Gross margin | 50.5% | 28.6% | 44.7% | 33.1% | 72.8% | 75.6% | 78.5% | 82.9% | 78.3% | 79.6% | 82.7% | 84.1% | 81.4% | 78.9% | 69.8% | 66.9% | 66.9% | 60.2% | 73.4% | 77.4% |
| R&D | $7.15M | $5.82M | $13.09M | $11.61M | $19.96M | $15.52M | $15.08M | $15.61M | $11.54M | $24.92M | $19.97M | $14.61M | $12.25M | $19.04M | $14.39M | $11.34M | $11.45M | $22.39M | $32.03M | $42.40M |
| SG&A | $893.03M | $822.39M | — | $1.45B | $1.40B | — | — | — | $1.34B | $4.44B | $1.43B | $1.68B | $1.70B | $1.75B | $1.80B | $206.00M | $1.94B | $2.15B | $2.19B | $2.34B |
| Operating income | $2.44B | $2.51B | $2.89B | $2.62B | $3.29B | $3.75B | $3.54B | $3.75B | $3.73B | $3.78B | $3.23B | $3.21B | $3.49B | $2.87B | $2.28B | $4.37B | $4.37B | $4.88B | $4.47B | $4.93B |
| Operating margin | 26.5% | 28.6% | 25.1% | 16.7% | 23.5% | 26.1% | 25.6% | 26.1% | 25.2% | 24.9% | 24.4% | 21.3% | 22.9% | 19.2% | 17.1% | 23.7% | 23.7% | 22.5% | 22.5% | 26.8% |
| EBITDA | $-1.16B | $4.53B | $5.22B | $4.99B | $5.57B | $6.38B | $4.90B | $5.28B | $5.39B | $5.25B | $4.55B | $4.74B | $5.33B | $4.45B | $3.83B | $6.43B | $6.43B | $7.25B | $6.83B | $7.63B |
| EBITDA margin | -12.6% | 51.6% | 45.4% | 31.8% | 39.8% | 44.4% | 35.5% | 36.8% | 36.4% | 34.5% | 34.5% | 31.5% | 35.0% | 29.8% | 28.7% | 34.8% | 34.8% | 33.5% | 34.4% | 41.5% |
| EBIT | $-2.11B | $3.66B | $4.23B | $3.86B | $4.38B | $5.13B | $3.62B | $3.92B | $3.97B | $3.75B | $3.24B | $3.26B | $3.80B | $2.86B | $2.40B | $4.60B | $4.60B | $5.27B | $4.77B | $5.46B |
| Interest expense | $714.98M | $724.98M | $959.65M | $1.34B | $942.20M | $1.11B | $1.07B | $1.04B | $982.40M | $1.03B | $772.37M | $933.21M | $942.39M | $929.01M | $1.01B | $685.03M | $1.07B | $1.38B | $1.35B | $1.38B |
| Income tax | $562.00M | $441.00M | $607.00M | $472.00M | $804.00M | $461.00M | $463.00M | $557.00M | $284.00M | $617.00M | $427.00M | $374.00M | $-889.00M | $339.00M | $370.00M | $1.26B | $1.26B | $876.00M | $831.00M | $821.00M |
| Effective tax rate | 12.7% | 24.0% | 16.0% | 33.3% | 36.7% | 17.6% | 19.5% | 20.6% | 10.3% | 23.4% | 14.1% | 4.6% | -33.4% | 18.3% | 22.6% | 34.8% | 34.8% | 10.1% | 26.6% | 22.1% |
| Net income | $3.85B | $1.39B | $3.19B | $944.00M | $1.39B | $2.16B | $1.92B | $2.15B | $2.48B | $2.02B | $2.59B | $7.79B | $3.55B | $1.51B | $1.26B | $2.35B | $2.35B | $7.80B | $2.29B | $2.90B |
| Net income growth (YoY) | — | -63.8% | +128.8% | -70.4% | +46.8% | +55.8% | -11.2% | +12.3% | +15.0% | -18.5% | +28.3% | +200.8% | -54.5% | -57.4% | -16.3% | +86.2% | +0.0% | +231.4% | -70.6% | +26.7% |
| Profit margin | 41.9% | 15.9% | 27.7% | 6.0% | 9.9% | 15.1% | 13.9% | 15.0% | 16.7% | 13.3% | 19.6% | 51.8% | 23.3% | 10.1% | 9.5% | 12.8% | 12.8% | 36.0% | 11.5% | 15.8% |