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National Grid Accounts Summary
| Date of Accounts | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Standard | IFRS | IFRS | IFRS | IFRS | IFRS |
| Millions | Millions | Millions | Millions | Millions | |
| Income Statement | 30-03-2026 | 30-03-2025 | 31-03-2024 | 30-03-2023 | 30-03-2022 |
| Revenue | 17,687.00 | 18,378.00 | 19,850.00 | 21,659.00 | 18,449.00 |
| Operating Profit / Loss | 5,431.00 | 4,934.00 | 4,475.00 | 4,879.00 | 4,371.00 |
| Net Interest | -1,325.00 | -1,357.00 | -1,464.00 | -1,460.00 | -1,022.00 |
| Pre Tax Profit | 4,182.00 | 3,650.00 | 3,048.00 | 3,590.00 | 3,441.00 |
| Post Tax Profit | 3,243.00 | 2,905.00 | 2,217.00 | 2,714.00 | 2,183.00 |
| Profit for the Period | 3,243.00 | 2,905.00 | 2,291.00 | 7,797.00 | 2,354.00 |
| Equity Holders of Parent Company | 3,241.00 | 2,902.00 | 2,290.00 | 7,797.00 | 2,354.00 |
| Minority Interests | 2.00 | 3.00 | 1.00 | n/a | n/a |
| Continuing EPS | |||||
| Earnings per Share (Basic) | 65.50p | 60.00p | 397.90p | 74.20p | 60.60p |
| Earnings per Share (Diluted) | 65.20p | 59.80p | 396.70p | 73.80p | 60.30p |
| Earnings per Share (Adjusted) | 78.00p | 73.30p | 77.70p | 63.80p | 61.40p |
| Continuing and Discontinued EPS | |||||
| Earnings per Share (Basic) | 65.50p | 61.60p | 397.90p | 213.10p | 65.40p |
| Earnings per Share (Diluted) | 65.20p | 61.40p | 396.70p | 212.10p | 65.00p |
| Earnings per Share (Adjusted) | 78.00p | 73.30p | 78.00p | 72.50p | 61.40p |
| Dividend per Share | 48.49p | 46.72p | 58.52p | 55.44p | 50.97p |
| Millions | Millions | Millions | Millions | Millions | |
| Balance Sheet | 30-03-2026 | 30-03-2025 | 31-03-2024 | 30-03-2023 | 30-03-2022 |
| Non-Current Assets | |||||
| Intangible Assets | 13,296.00 | 13,096.00 | 13,160.00 | 13,451.00 | 12,804.00 |
| Property, Plant and Equipment | 81,520.00 | 74,091.00 | 68,907.00 | 64,433.00 | 57,532.00 |
| Investments | 624.00 | 608.00 | 1,420.00 | 1,300.00 | 1,238.00 |
| Investment Properties | n/a | n/a | n/a | n/a | n/a |
| Other Financial Assets | 623.00 | 369.00 | 1,204.00 | 1,135.00 | 1,135.00 |
| Other Non-Current Assets | 4,733.00 | 4,246.00 | 3,255.00 | 3,265.00 | 4,188.00 |
| Total Non-Current Assets | 100,796.00 | 92,410.00 | 87,946.00 | 83,584.00 | 76,897.00 |
| Current Assets | |||||
| Inventories | 559.00 | 557.00 | 828.00 | 876.00 | 511.00 |
| Trade and Other Receivables | 3,867.00 | 4,092.00 | 3,415.00 | 3,830.00 | 3,715.00 |
| Cash at Bank and in Hand | 375.00 | 1,178.00 | 559.00 | 163.00 | 204.00 |
| Current Asset Investments | n/a | n/a | 3,699.00 | 2,758.00 | 3,427.00 |
| Other Current Assets | 2,684.00 | 8,505.00 | 1,878.00 | 1,486.00 | 10,106.00 |
| Total Current Assets | 7,485.00 | 14,332.00 | 10,379.00 | 9,113.00 | 17,963.00 |
| Other Assets | n/a | n/a | n/a | n/a | n/a |
| Total Assets | 108,281.00 | 106,742.00 | 98,325.00 | 92,697.00 | 94,860.00 |
| Current Liabilities | |||||
| Borrowings | 3,900.00 | 4,662.00 | 4,859.00 | 3,207.00 | 12,121.00 |
| Other Current Liabilities | 5,897.00 | 5,959.00 | 6,530.00 | 5,923.00 | 12,649.00 |
| Total Current Liabilities | 9,797.00 | 10,621.00 | 11,389.00 | 9,130.00 | 24,770.00 |
| Net Current Assets | n/a | n/a | n/a | n/a | n/a |
| Non-Current Liabilities | |||||
| Borrowings | 42,855.00 | 42,877.00 | 42,213.00 | 41,784.00 | 33,344.00 |
| Provisions | 11,376.00 | 10,730.00 | 10,923.00 | 9,535.00 | 9,874.00 |
| Other Non-Current Liabilities | 4,923.00 | 4,688.00 | 3,908.00 | 2,686.00 | 3,016.00 |
| Total Non-Current Liabilities | 59,154.00 | 58,295.00 | 57,044.00 | 54,005.00 | 46,234.00 |
| Net Assets | 39,330.00 | 37,826.00 | 29,892.00 | 29,562.00 | 23,856.00 |
| Capital and Reserves | |||||
| Share Capital | 647.00 | 638.00 | 493.00 | 488.00 | 485.00 |
| Share Premium Account | 1,285.00 | 1,292.00 | 1,298.00 | 1,302.00 | 1,300.00 |
| Other Reserves | 41,909.00 | 40,106.00 | -3,990.00 | -3,860.00 | -4,563.00 |
| Retained Earnings | -4,542.00 | -4,233.00 | 32,066.00 | 31,608.00 | 26,611.00 |
| Shareholders Funds | 39,299.00 | 37,803.00 | 29,867.00 | 29,538.00 | 23,833.00 |
| Minority Interests / Other Equity | 31.00 | 23.00 | 25.00 | 24.00 | 23.00 |
| Total Equity | 39,330.00 | 37,826.00 | 29,892.00 | 29,562.00 | 23,856.00 |
| 30-03-2026 | 30-03-2025 | 31-03-2024 | 30-03-2023 | 30-03-2022 | |
| Operating Margin | 30.71% | 26.85% | 22.54% | 22.53% | 23.69% |
| Return on Capital Employed | 6.54% | 6.03% | 6.04% | 7.15% | 6.72% |
| Dividend Cover | 1.61 | 1.57 | 1.33 | 1.15 | 1.20 |
| Dividend Yield | 3.80 | 4.60 | 6.00 | 5.50 | 4.70 |
| PE Ratio | 16.30 | 13.80 | 12.60 | 15.80 | 17.50 |
| PEG | 2.70 | n/a | 0.60 | 3.90 | 0.30 |
| Dividend per Share Growth | 3.79% | -20.16% | 5.56% | 8.77% | 3.68% |
| Net Asset Value per Share | 523.24p | 497.03p | 336.29p | 323.80p | 222.13p |