Stocktoria
National Grid plc statistics & valuation
Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (£10.73); a green figure means the price is below it.
Profitability & efficiency
Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).
P / E vs its own history
National Grid plc trades at about 1832.8× earnings — near its 10-year norm (10-year range 587.1×–2003.4×, median 1848×).
Shaded band = 10-year range (587.1×–2003.4×); dot = today's 1832.8×.
Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.
Key ratios (by fiscal year)
| Ratio | FY2026 | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Gross margin | 79.8% | 77.4% | 73.4% | 60.2% |
| Operating margin | 32.2% | 29.6% | 23.5% | 22.5% |
| Net margin | 18.3% | 15.8% | 11.5% | 36.0% |
| FCF margin | -15.5% | -13.6% | -2.6% | 0.0% |
| Return on assets | 3.0% | 2.7% | 2.3% | 8.4% |
| Return on equity | 8.2% | 7.7% | 7.7% | 26.4% |
| Debt / equity | 1.07× | 1.12× | 1.39× | 1.33× |
| Current ratio | 0.76 | 1.35 | 0.91 | 1.00 |
Computed from company filings · GB · as of 2026-03-31. Figures in GBP. Facts plus Stocktoria's own computed scores — not investment advice.