National Grid PLC ADR (NGG) financial statements

Utilities · Utilities - Regulated Electric · Market cap $73.6B

National Grid PLC ADR reported revenue of 18.4B GBP in fiscal 2025, up 3.7% a year over 9 years.

Net income was 2.9B GBP and the operating margin 26.8%, against 24.4% in 2016.

The diluted share count rose 25% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (GBP).

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<p style="font-size:13px">Source: <a href="https://investingly.io/stocks/NGG/financials">National Grid PLC ADR financials</a> on Investingly</p>

Income statement

Fiscal years, in GBP, from National Grid PLC ADR's 10-K filings with the SEC.

Fiscal year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	13.2B GBP	15.0B GBP	15.2B GBP	14.9B GBP	13.4B GBP	13.7B GBP	18.4B GBP	21.7B GBP	19.9B GBP	18.4B GBP
Research and development	19M GBP	14M GBP	13M GBP	19M GBP	9M GBP	12M GBP	11M GBP	23M GBP	32M GBP	43M GBP
Operating income	3.2B GBP	3.2B GBP	3.5B GBP	2.9B GBP	2.3B GBP	2.4B GBP	4.4B GBP	4.9B GBP	4.5B GBP	4.9B GBP
Interest expense	977M GBP	1.1B GBP	1.0B GBP	1.2B GBP	1.0B GBP	853M GBP	1.1B GBP	1.6B GBP	1.7B GBP	1.8B GBP
Pre-tax income	2.3B GBP	2.2B GBP	2.7B GBP	1.8B GBP	1.4B GBP	1.7B GBP	3.4B GBP	3.6B GBP	3.0B GBP	3.6B GBP
Income tax	427M GBP	374M GBP	-889M GBP	339M GBP	370M GBP	360M GBP	1.3B GBP	876M GBP	831M GBP	821M GBP
Net income	2.6B GBP	7.8B GBP	3.5B GBP	1.5B GBP	1.3B GBP	1.6B GBP	2.4B GBP	7.8B GBP	2.3B GBP	2.9B GBP
EPS (diluted)	0.68 GBP	2.06 GBP	1.02 GBP	0.44 GBP	0.36 GBP	0.46 GBP	0.65 GBP	1.96 GBP	0.57 GBP	0.61 GBP
Diluted shares	3.79B	3.78B	3.48B	3.40B	3.48B	3.54B	3.62B	3.97B	4.01B	4.73B
Operating margin	24.4%	21.3%	22.9%	19.2%	17.1%	17.6%	23.7%	22.5%	22.5%	26.8%
Net margin	19.6%	51.8%	23.3%	10.1%	9.5%	12.0%	12.8%	36.0%	11.5%	15.8%

Balance sheet

Fiscal years, in GBP, from National Grid PLC ADR's 10-K filings with the SEC.

Fiscal year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Cash and short-term investments	124M GBP	1.1B GBP	329M GBP	252M GBP	73M GBP	157M GBP	204M GBP	163M GBP	559M GBP	1.2B GBP
Receivables	—	2.7B GBP	2.8B GBP	3.2B GBP	3.0B GBP	2.9B GBP	3.7B GBP	3.8B GBP	3.4B GBP	4.1B GBP
Inventory	—	403M GBP	341M GBP	370M GBP	549M GBP	439M GBP	511M GBP	876M GBP	828M GBP	557M GBP
Total current assets	—	13.6B GBP	6.7B GBP	7.9B GBP	5.8B GBP	9.9B GBP	18.0B GBP	9.1B GBP	10.4B GBP	14.3B GBP
Property, plant and equipment	—	39.8B GBP	40.7B GBP	44.9B GBP	49.8B GBP	47.0B GBP	57.5B GBP	64.4B GBP	68.9B GBP	74.1B GBP
Goodwill	—	6.1B GBP	5.0B GBP	5.4B GBP	5.7B GBP	4.6B GBP	9.5B GBP	9.8B GBP	9.7B GBP	9.5B GBP
Total assets	—	65.8B GBP	59.2B GBP	63.4B GBP	67.6B GBP	67.2B GBP	94.9B GBP	92.7B GBP	98.3B GBP	106.7B GBP
Total current liabilities	—	10.5B GBP	8.7B GBP	9.1B GBP	8.6B GBP	9.4B GBP	24.8B GBP	9.1B GBP	11.4B GBP	10.6B GBP
Long-term debt	—	23.1B GBP	22.2B GBP	24.3B GBP	26.7B GBP	27.5B GBP	33.3B GBP	40.0B GBP	42.2B GBP	42.9B GBP
Total liabilities	—	45.5B GBP	40.2B GBP	43.8B GBP	47.8B GBP	47.4B GBP	71.0B GBP	63.1B GBP	68.4B GBP	68.9B GBP
Shareholders' equity	13.6B GBP	20.4B GBP	19.0B GBP	19.5B GBP	19.8B GBP	19.8B GBP	23.8B GBP	29.5B GBP	29.9B GBP	37.8B GBP
Net debt	-124M GBP	27.5B GBP	26.3B GBP	28.5B GBP	30.7B GBP	31.1B GBP	45.3B GBP	42.8B GBP	46.5B GBP	46.4B GBP

Cash flow

Fiscal years, in GBP, from National Grid PLC ADR's 10-K filings with the SEC.

Fiscal year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Capital spending	3.1B GBP	3.5B GBP	3.9B GBP	3.9B GBP	4.6B GBP	4.6B GBP	5.5B GBP	6.9B GBP	7.5B GBP	9.3B GBP
Stock-based compensation	21M GBP	32M GBP	16M GBP	27M GBP	16M GBP	23M GBP	38M GBP	48M GBP	37M GBP	37M GBP
Dividends paid	1.3B GBP	1.5B GBP	4.5B GBP	1.2B GBP	892M GBP	1.4B GBP	922M GBP	1.6B GBP	1.7B GBP	1.5B GBP
Share buybacks (net)	-267M GBP	-189M GBP	-1.0B GBP	0 GBP	0 GBP	-2M GBP	—	—	—	—
Net borrowing	1.8B GBP	847M GBP	-215M GBP	963M GBP	884M GBP	3.5B GBP	11.1B GBP	-3.4B GBP	3.9B GBP	376M GBP
Dividends per share	0.35 GBP	0.39 GBP	1.29 GBP	0.34 GBP	0.26 GBP	0.40 GBP	0.25 GBP	0.40 GBP	0.43 GBP	0.32 GBP

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Questions

What was National Grid PLC ADR's revenue in 2025?

18.4B GBP in fiscal 2025, from its 10-K filing.

From National Grid PLC ADR's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.