National Grid Ratios and Metrics

Market cap in millions GBP. Fiscal year is April - March.

Millions GBP. Fiscal year is Apr - Mar.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021	2016 - 2020
Market Capitalization	56,636	49,387	39,652	40,312	42,733	30,665	Upgrade
Market Cap Growth	23.76%	24.55%	-1.64%	-5.67%	39.36%	-7.66%	Upgrade
Enterprise Value	98,519	88,177	84,004	87,713	84,646	61,949	Upgrade
PE Ratio	19.58	17.02	17.32	5.17	18.16	18.70	Upgrade
PS Ratio	3.24	2.69	2.00	1.86	2.32	2.24	Upgrade
PB Ratio	1.52	1.31	1.33	1.36	1.79	1.54	Upgrade
P/FCF Ratio	-	-	1132.92	70.35	36.40	121.69	Upgrade
P/OCF Ratio	7.24	7.25	5.71	5.84	6.81	6.87	Upgrade
EV/Sales Ratio	5.64	4.80	4.23	4.05	4.59	4.53	Upgrade
EV/EBITDA Ratio	13.46	12.98	11.55	15.02	14.03	17.27	Upgrade
EV/EBIT Ratio	18.42	17.67	15.04	20.86	20.13	25.71	Upgrade
EV/FCF Ratio	-69.53	-	2400.12	153.08	72.10	245.83	Upgrade
Debt / Equity Ratio	1.23	1.29	1.61	1.49	1.95	1.61	Upgrade
Debt / EBITDA Ratio	6.32	7.04	6.52	7.39	7.70	8.65	Upgrade
Debt / FCF Ratio	-	-	1377.09	76.97	39.57	126.93	Upgrade
Quick Ratio	0.75	1.01	0.64	0.69	0.27	0.54	Upgrade
Current Ratio	0.97	1.35	0.91	1.00	0.73	1.06	Upgrade
Asset Turnover	0.17	0.18	0.21	0.23	0.23	0.20	Upgrade
Return on Equity (ROE)	7.87%	8.36%	7.46%	10.16%	9.99%	6.58%	Upgrade
Return on Assets (ROA)	3.22%	3.04%	3.65%	2.80%	3.24%	2.23%	Upgrade
Return on Capital (ROIC)	4.01%	3.79%	4.60%	3.65%	4.30%	2.91%	Upgrade
Return on Capital Employed (ROCE)	5.60%	5.20%	6.40%	5.00%	6.00%	4.20%	Upgrade
Earnings Yield	5.07%	5.88%	5.78%	19.34%	5.51%	5.35%	Upgrade
FCF Yield	-2.50%	-3.99%	0.09%	1.42%	2.75%	0.82%	Upgrade
Dividend Yield	4.14%	4.83%	6.63%	6.44%	5.80%	7.99%	Upgrade
Payout Ratio	56.13%	52.69%	75.02%	20.61%	39.18%	86.16%	Upgrade
Buyback Yield / Dilution	-19.31%	-27.50%	-0.90%	-1.66%	-2.15%	-1.78%	Upgrade
Total Shareholder Return	-15.17%	-22.67%	5.73%	4.78%	3.65%	6.21%	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.