NATIONAL GRID PLC
NGG, NGGTF, NEWEN, NMKBP, NMKCP, NMPWP · Natural Gas Transmission · EDGAR filings ↗
Grade
C63Large regulated UK/US utility with stable cash flows but below-median returns and high leverage.
Strengths
- Solid net margin 15.8% and operating margin 26.8%; net income up 30% (67th pct)
- Adequate liquidity (current ratio 1.35, 88th pct relative to peers)
Risks
- ROA 2.7% (28th pct), ROE 7.7% (25th pct), ROIC 4.6% (25th pct) — bottom-quartile returns
- High leverage (D/E 1.26) and thin interest coverage (2.7x); revenue down 4.9%
Key metrics
Operating margin
26.8%
Net margin
15.8%
Return on equity
7.7%
Return on assets
2.7%
ROIC
4.6%
Revenue growth (QoQ)
-4.9%
Net-income growth
30.2%
Debt / equity
1.3×
Interest coverage
2.7×
Current ratio
1.3×
Tangible book value
$36.7B
Cash & investments
$1.5B
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-06-03 | 2026-03-31 | 0001004315-26-000006 ↗ |
| 20-F | 2025-05-29 | 2025-03-31 | 0001004315-25-000012 ↗ |
| 20-F | 2024-05-23 | 2024-03-31 | 0001004315-24-000007 ↗ |
| 20-F | 2023-06-06 | 2023-03-31 | 0001004315-23-000012 ↗ |
| 20-F | 2022-06-07 | 2022-03-31 | 0001004315-22-000057 ↗ |
| 20-F | 2021-06-08 | 2021-03-31 | 0001004315-21-000067 ↗ |
| 20-F | 2020-06-25 | 2020-03-31 | 0001004315-20-000053 ↗ |
| 20-F | 2019-06-04 | 2019-03-31 | 0001004315-19-000071 ↗ |
| 20-F | 2018-06-04 | 2018-03-30 | 0001004315-18-000038 ↗ |
| 20-F | 2017-06-06 | 2017-03-31 | 0001193125-17-195204 ↗ |
| 20-F | 2016-06-07 | 2016-03-31 | 0001193125-16-614641 ↗ |
| 20-F | 2015-06-05 | 2015-03-31 | 0001193125-15-214291 ↗ |