National Grid Plc ADR's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Mar 31, 2026 · FY), National Grid Plc ADR reported revenue of $17.7B (-3.8% year on year).
| Line item | Mar 31, 2026 · FY | Mar 31, 2025 · FY | Mar 31, 2024 · FY | Mar 31, 2023 · FY |
|---|---|---|---|---|
| Revenue | $17.7B | $18.4B | $19.9B | $21.7B |
| Impairment losses on financial assets | ($243.0M) | ($200.0M) | ($179.0M) | ($220.0M) |
| Other operating costs | ($12.5B) | ($13.2B) | ($15.2B) | ($17.5B) |
| Other operating income | $489.0M | — | $12.0M | $989.0M |
| Operating profit | $5.4B | $4.9B | $4.5B | $4.9B |
| Finance income | $380.0M | $450.0M | $248.0M | $138.0M |
| Finance costs | ($1.7B) | ($1.8B) | ($1.7B) | ($1.6B) |
| Share of post-tax results of joint ventures and associates | $76.0M | $73.0M | $37.0M | $171.0M |
| Profit before tax | $4.2B | $3.6B | $3.0B | $3.6B |
| Tax | ($939.0M) | ($821.0M) | ($831.0M) | ($876.0M) |
| Profit after tax from continuing operations | $3.2B | $2.8B | $2.2B | $2.7B |
| Profit after tax from discontinued operations | $0 | $76.0M | $74.0M | $5.1B |
| Total profit for the year | $3.2B | $2.9B | $2.3B | $7.8B |
| Equity shareholders of the parent | $3.2B | $2.9B | $2.3B | $7.8B |
| Non-controlling interests | $2.0M | $3.0M | — | — |
| Basic earnings per share (continuing) (in GBP pence per share) | $0.66 | $0.60 | $0.60 | $0.74 |
| Diluted earnings per share (continuing) (in GBP pence per share) | $0.65 | $0.60 | $0.60 | $0.74 |
| Basic earnings per share (continuing and discontinued) (in GBP pence per share) | $0.66 | $0.62 | $0.62 | $2.13 |
| Diluted earnings per share (continuing and discontinued) (in GBP pence per share) | $0.65 | $0.61 | $0.62 | $2.12 |
| Line item | Sep 30, 2025 · YTD | Sep 30, 2024 · YTD | Sep 30, 2023 · YTD | Sep 30, 2022 · YTD |
|---|---|---|---|---|
| Revenue | $7.1B | $8.0B | $8.5B | $9.4B |
| Provision for bad and doubtful debts | ($58.0M) | ($81.0M) | ($91.0M) | ($52.0M) |
| Other operating costs | ($5.5B) | ($6.6B) | ($6.4B) | ($7.7B) |
| Operating profit | $1.5B | $1.3B | $2.0B | $2.2B |
| Finance income | $208.0M | $234.0M | $115.0M | $37.0M |
| Finance costs | ($947.0M) | ($916.0M) | ($800.0M) | ($755.0M) |
| Share of post-tax results of joint ventures and associates | $39.0M | $57.0M | $71.0M | $51.0M |
| Profit before tax | $826.0M | $684.0M | $1.4B | $1.6B |
| Tax | ($208.0M) | ($112.0M) | ($307.0M) | ($447.0M) |
| Profit after tax from continuing operations | $618.0M | $572.0M | $1.1B | $1.1B |
| Profit after tax from discontinued operations | $0 | $76.0M | $65.0M | $131.0M |
| Total profit for the period (continuing and discontinued) | $618.0M | $648.0M | $1.1B | $1.3B |
| Equity shareholders of the parent | $617.0M | $647.0M | $1.1B | $1.3B |
| Non-controlling interests | $1.0M | $1.0M | $1.0M | $0 |
| Basic earnings per share (continuing) (in GBP per share) | $0.13 | $0.13 | $0.29 | $0.31 |
| Diluted earnings per share (continuing) (in GBP per share) | $0.13 | $0.13 | $0.29 | $0.31 |
| Basic earnings per share (continuing and discontinued) (in GBP per share) | $0.13 | $0.14 | $0.31 | $0.34 |
| Diluted earnings per share (continuing and discontinued) (in GBP per share) | $0.13 | $0.14 | $0.30 | $0.34 |
| Line item | Mar 31, 2026 · FY | Mar 31, 2025 · FY | Mar 31, 2024 · FY | Mar 31, 2023 · FY |
|---|---|---|---|---|
| Goodwill | $9.4B | $9.5B | $9.7B | $9.8B |
| Other intangible assets | $3.9B | $3.6B | $3.4B | $3.6B |
| Property, plant and equipment | $81.5B | $74.1B | $68.9B | $64.4B |
| Other non-current assets | $1.4B | $959.0M | $848.0M | $567.0M |
| Pensions and other post-retirement benefit assets | $2.5B | $2.5B | $2.4B | $2.6B |
| Financial and other investments | $842.0M | $798.0M | $880.0M | $859.0M |
| Investments in joint ventures and associates | $624.0M | $608.0M | $1.4B | $1.3B |
| Derivative financial assets | $623.0M | $369.0M | $324.0M | $276.0M |
| Total non-current assets | $100.8B | $92.4B | $87.9B | $83.5B |
| Inventories | $559.0M | $557.0M | $828.0M | $876.0M |
| Trade and other receivables | $3.9B | $4.1B | $3.4B | $3.9B |
| Current tax assets | $16.0M | $11.0M | $11.0M | $43.0M |
| Financial and other investments | $2.5B | $5.8B | $3.7B | $2.6B |
| Derivative financial assets | $215.0M | $113.0M | $44.0M | $153.0M |
| Cash and cash equivalents | $375.0M | $1.2B | $559.0M | $163.0M |
| Assets held for sale | $0 | $2.6B | $1.8B | $1.4B |
| Total current assets | $7.5B | $14.3B | $10.4B | $9.2B |
| Total assets | $108.3B | $106.7B | $98.3B | $92.7B |
| Borrowings | ($3.9B) | ($4.7B) | ($4.9B) | ($3.0B) |
| Derivative financial liabilities | ($268.0M) | ($381.0M) | ($335.0M) | ($222.0M) |
| Trade and other payables | ($5.0B) | ($4.5B) | ($4.1B) | ($5.1B) |
| Contract liabilities | ($110.0M) | ($96.0M) | ($127.0M) | ($252.0M) |
| Current tax liabilities | ($45.0M) | ($219.0M) | ($220.0M) | ($236.0M) |
| Provisions | ($425.0M) | ($357.0M) | ($298.0M) | ($288.0M) |
| Liabilities held for sale | $0 | ($434.0M) | ($1.5B) | ($109.0M) |
| Total current liabilities | ($9.8B) | ($10.6B) | ($11.4B) | ($9.1B) |
| Borrowings | ($42.9B) | ($42.9B) | ($42.2B) | ($40.0B) |
| Derivative financial liabilities | ($750.0M) | ($821.0M) | ($909.0M) | ($1.1B) |
| Other non-current liabilities | ($1.1B) | ($876.0M) | ($880.0M) | ($921.0M) |
| Contract liabilities | ($2.7B) | ($2.4B) | ($2.1B) | ($1.8B) |
| Deferred tax liabilities | ($9.0B) | ($8.0B) | ($7.5B) | ($7.2B) |
| Pensions and other post-retirement benefit obligations | ($360.0M) | ($573.0M) | ($593.0M) | ($694.0M) |
| Provisions | ($2.3B) | ($2.7B) | ($2.8B) | ($2.4B) |
| Total non-current liabilities | ($59.2B) | ($58.3B) | ($57.0B) | ($54.0B) |
| Total liabilities | ($69.0B) | ($68.9B) | ($68.4B) | ($63.1B) |
| Net assets | $39.3B | $37.8B | $29.9B | $29.6B |
| Share capital | $647.0M | $638.0M | $493.0M | $488.0M |
| Share premium account | $1.3B | $1.3B | $1.3B | $1.3B |
| Retained earnings | $41.9B | $40.1B | $32.1B | $31.6B |
| Other equity reserves | ($4.5B) | ($4.2B) | ($4.0B) | ($3.9B) |
| Total shareholders’ equity | $39.3B | $37.8B | $29.9B | $29.5B |
| Non-controlling interests | $31.0M | $23.0M | $25.0M | $24.0M |
| Total equity | $39.3B | $37.8B | $29.9B | $29.6B |
| Line item | Sep 30, 2025 | Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 |
|---|---|---|---|---|
| Goodwill | $9.3B | $9.4B | $9.9B | $10.4B |
| Other intangible assets | $3.7B | $3.4B | $3.7B | $3.5B |
| Property, plant and equipment | $76.3B | $69.2B | $67.4B | $65.4B |
| Other non-current assets | $897.0M | $850.0M | $570.0M | $539.0M |
| Pensions and other post-retirement benefit assets | $2.4B | $2.5B | $2.4B | $3.4B |
| Financial and other investments | $795.0M | $795.0M | $871.0M | $911.0M |
| Investments in joint ventures and associates | $624.0M | $901.0M | $1.4B | $1.3B |
| Derivative financial assets | $736.0M | $413.0M | $325.0M | $644.0M |
| Total non-current assets | $94.8B | $87.4B | $86.5B | $86.2B |
| Inventories | $641.0M | $639.0M | $931.0M | $971.0M |
| Trade and other receivables | $2.8B | $2.7B | $3.3B | $3.7B |
| Current tax assets | $11.0M | $19.0M | $18.0M | $129.0M |
| Financial and other investments | $3.2B | $6.1B | $1.7B | $2.7B |
| Derivative financial assets | $240.0M | $145.0M | $60.0M | $408.0M |
| Cash and cash equivalents | $887.0M | $1.1B | $227.0M | $259.0M |
| Assets held for sale | $1.1B | $3.7B | $1.4B | $6.3B |
| Total current assets | $8.9B | $14.5B | $7.7B | $14.4B |
| Total assets on disposal | $103.8B | $101.9B | $94.2B | $100.6B |
| Borrowings | ($3.6B) | ($2.7B) | ($2.7B) | ($9.2B) |
| Derivative financial liabilities | ($358.0M) | ($419.0M) | ($321.0M) | ($551.0M) |
| Trade and other payables | ($4.3B) | ($4.0B) | ($4.5B) | ($4.4B) |
| Contract liabilities | ($86.0M) | ($91.0M) | ($159.0M) | ($153.0M) |
| Current tax liabilities | ($187.0M) | ($181.0M) | ($231.0M) | ($86.0M) |
| Provisions | ($338.0M) | ($314.0M) | ($361.0M) | ($326.0M) |
| Liabilities held for sale | ($328.0M) | ($1.3B) | ($51.0M) | ($5.4B) |
| Total current liabilities | ($9.2B) | ($9.0B) | ($8.3B) | ($20.2B) |
| Borrowings | ($42.3B) | ($42.5B) | ($42.1B) | ($39.4B) |
| Derivative financial liabilities | ($555.0M) | ($854.0M) | ($1.1B) | ($1.2B) |
| Other non-current liabilities | ($894.0M) | ($848.0M) | ($1.0B) | ($922.0M) |
| Contract liabilities | ($2.5B) | ($2.2B) | ($1.9B) | ($1.7B) |
| Deferred tax liabilities | ($8.1B) | ($7.4B) | ($7.3B) | ($7.7B) |
| Pensions and other post-retirement benefit obligations | ($349.0M) | ($603.0M) | ($615.0M) | ($808.0M) |
| Provisions | ($2.6B) | ($2.7B) | ($2.4B) | ($2.7B) |
| Total non-current liabilities | ($57.4B) | ($57.0B) | ($56.5B) | ($54.4B) |
| Total liabilities | ($66.5B) | ($66.0B) | ($64.8B) | ($74.6B) |
| Net assets | $37.2B | $35.9B | $29.5B | $26.0B |
| Share capital | $645.0M | $637.0M | $489.0M | $486.0M |
| Share premium account | $1.3B | $1.3B | $1.3B | $1.3B |
| Retained earnings | $40.0B | $38.7B | $31.3B | $26.2B |
| Other equity reserves | ($4.7B) | ($4.8B) | ($3.6B) | ($2.1B) |
| Total shareholders’ equity | $37.2B | $35.8B | $29.5B | $25.9B |
| Non-controlling interests | $28.0M | $25.0M | $25.0M | $26.0M |
| Total equity | $37.2B | $35.9B | $29.5B | $26.0B |
| Line item | Mar 31, 2026 · FY | Mar 31, 2025 · FY | Mar 31, 2024 · FY | Mar 31, 2023 · FY |
|---|---|---|---|---|
| Total operating profit from continuing operations | $5.4B | $4.9B | $4.5B | $4.9B |
| Gain on sale of investments | ($393.0M) | ($188.0M) | $0 | ($846.0M) |
| Other fair value movements | ($31.0M) | $66.0M | ($16.0M) | $21.0M |
| Depreciation, amortisation and impairment | $2.2B | $2.5B | $2.1B | $2.0B |
| Share-based payments | $45.0M | $37.0M | $37.0M | $48.0M |
| Changes in working capital | $720.0M | $40.0M | ($147.0M) | $547.0M |
| Changes in provisions | ($127.0M) | ($287.0M) | $840.0M | ($155.0M) |
| Changes in pensions and other post-retirement benefit obligations | ($31.0M) | ($90.0M) | $31.0M | ($46.0M) |
| Cash generated from operations – continuing operations | $7.9B | $7.0B | $7.3B | $6.4B |
| Tax paid | ($32.0M) | ($183.0M) | ($342.0M) | ($89.0M) |
| Net cash inflow from operating activities – continuing operations | $7.8B | $6.8B | $6.9B | $6.3B |
| Purchases of intangible assets | ($586.0M) | ($526.0M) | ($549.0M) | ($567.0M) |
| Purchases of property, plant and equipment | ($10.0B) | ($8.8B) | ($6.9B) | ($6.3B) |
| Disposals of property, plant and equipment | $68.0M | $26.0M | $52.0M | $87.0M |
| Investments in joint ventures and associates | ($94.0M) | ($396.0M) | ($332.0M) | ($443.0M) |
| Dividends received from joint ventures, associates and other investments | $105.0M | $126.0M | $176.0M | $190.0M |
| Disposal of interests in the UK Electricity System Operator, UK Gas Transmission business, The Narragansett Electric Company and Millennium Pipeline Company LLC | $2.8B | $1.3B | $681.0M | $7.5B |
| Disposal of financial and other investments | $67.0M | $85.0M | $102.0M | $116.0M |
| Acquisition of financial investments | ($67.0M) | ($122.0M) | ($81.0M) | ($95.0M) |
| Contributions to National Grid Renewables and Emerald Energy Venture LLC | $0 | $0 | ($19.0M) | ($19.0M) |
| Net movements in short-term financial investments | $3.3B | ($2.6B) | ($1.1B) | $586.0M |
| Interest received | $231.0M | $332.0M | $148.0M | $65.0M |
| Cash inflows on derivatives | $20.0M | $11.0M | $123.0M | $0 |
| Cash outflows on derivatives | ($6.0M) | ($6.0M) | $0 | ($362.0M) |
| Insurance claim from loss of property, plant and equipment | $0 | $0 | $143.0M | $79.0M |
| Net cash flow used in investing activities – continuing operations | ($4.2B) | ($10.6B) | ($7.6B) | $804.0M |
| Net cash inflow from investing activities – discontinued operations | $0 | $22.0M | $102.0M | ($564.0M) |
| Proceeds of Rights Issue | 0 | 7.0B | — | — |
| Transaction fees related to Rights Issue | $0 | ($162.0M) | — | — |
| Proceeds from issue of treasury shares | 40.0M | 18.0M | 20.0M | 16.0M |
| Transactions in own shares | -1.0M | -7.0M | -4.0M | 1.0M |
| Proceeds received from loans | $4.2B | $3.2B | $5.6B | $11.9B |
| Repayment of loans | ($3.0B) | ($2.9B) | ($1.7B) | ($15.3B) |
| Payments of lease liabilities | ($145.0M) | ($130.0M) | ($118.0M) | ($155.0M) |
| Net movements in short-term borrowings | ($2.2B) | $925.0M | $544.0M | ($511.0M) |
| Cash inflows on derivatives | $93.0M | $62.0M | $86.0M | $190.0M |
| Cash outflows on derivatives | ($38.0M) | ($106.0M) | ($58.0M) | ($118.0M) |
| Interest paid | ($1.9B) | ($1.9B) | ($1.6B) | ($1.4B) |
| Dividends paid to shareholders | ($1.6B) | ($1.5B) | ($1.7B) | ($1.6B) |
| Net cash flow (used in)/from financing activities – continuing operations | ($4.6B) | $4.5B | $987.0M | ($7.0B) |
| Net cash flow used in financing activities – discontinued operations | $0 | $0 | $0 | ($207.0M) |
| Net (decrease)/increase in cash and cash equivalents | ($948.0M) | $765.0M | $427.0M | ($35.0M) |
| Reclassification to held for sale | $153.0M | ($123.0M) | ($30.0M) | $9.0M |
| Exchange movements | ($8.0M) | ($23.0M) | ($1.0M) | $7.0M |
| Cash and cash equivalents at start of year | $1.2B | $559.0M | $163.0M | $182.0M |
| Line item | Sep 30, 2025 · YTD | Sep 30, 2024 · YTD | Sep 30, 2023 · YTD | Sep 30, 2022 · YTD |
|---|---|---|---|---|
| Operating profit from continuing operations | $1.5B | $1.3B | $2.0B | $2.2B |
| Loss on sale of investments | $96.0M | — | — | — |
| Other fair value movements | ($7.0M) | $21.0M | ($19.0M) | $31.0M |
| Depreciation, amortisation and impairment | $1.1B | $1.1B | $1.0B | $932.0M |
| Share-based payments | $17.0M | $16.0M | $19.0M | $20.0M |
| Changes in working capital | $913.0M | $442.0M | ($10.0M) | ($378.0M) |
| Changes in provisions | ($35.0M) | ($180.0M) | $39.0M | $81.0M |
| Changes in pensions and other post-retirement benefit obligations | $26.0M | $24.0M | $27.0M | ($54.0M) |
| Cash generated from operations – continuing operations | $3.6B | $2.7B | $3.1B | $2.4B |
| Tax paid | ($12.0M) | ($78.0M) | ($201.0M) | ($88.0M) |
| Net cash flow from operating activities – continuing operations | $3.6B | $2.6B | $2.9B | $2.3B |
| Purchases of intangible assets | ($260.0M) | ($243.0M) | ($269.0M) | ($224.0M) |
| Purchases of property, plant and equipment | ($4.4B) | ($4.0B) | ($3.2B) | ($3.3B) |
| Disposals of property, plant and equipment | $10.0M | $10.0M | $18.0M | $63.0M |
| Investments in joint ventures and associates | ($77.0M) | ($102.0M) | ($151.0M) | ($376.0M) |
| Dividends received from joint ventures, associates and other investments | $49.0M | $71.0M | $121.0M | $107.0M |
| Disposal of interest in National Grid Renewables and UK Gas Transmission Business | $1.5B | $686.0M | $0 | $3.0B |
| Disposal of financial and other investments | $31.0M | $33.0M | $65.0M | $70.0M |
| Acquisition of financial investments | ($44.0M) | ($49.0M) | ($32.0M) | ($62.0M) |
| Net movements in short-term financial investments | $2.6B | ($3.0B) | $885.0M | $599.0M |
| Interest received | $143.0M | $162.0M | $69.0M | $20.0M |
| Cash inflows on derivatives | $20.0M | $0 | $103.0M | — |
| Cash outflows on derivatives | $0 | ($6.0M) | ($4.0M) | ($377.0M) |
| Net cash flow used in investing activities – continuing operations | ($536.0M) | ($6.4B) | ($2.4B) | ($445.0M) |
| Net cash flow from investing activities – discontinued operations | $0 | $22.0M | $0 | ($181.0M) |
| Proceeds of Rights Issue | 0 | 7.0B | — | — |
| Transaction fees related to Rights Issue | $0 | ($162.0M) | — | — |
| Proceeds from issue of treasury shares | 38.0M | 15.0M | 20.0M | 14.0M |
| Transactions in own shares | -1.0M | -5.0M | -1.0M | 2.0M |
| Proceeds received from loans | $2.2B | $1.8B | $3.0B | $9.0B |
| Repayments of loans | ($1.6B) | ($916.0M) | ($839.0M) | ($9.0B) |
| Payments of lease liabilities | ($76.0M) | ($75.0M) | ($61.0M) | ($78.0M) |
| Net movements in short-term borrowings | ($2.1B) | ($1.3B) | ($444.0M) | $380.0M |
| Cash inflows on derivatives | $71.0M | $73.0M | $68.0M | $201.0M |
| Cash outflows on derivatives | ($40.0M) | ($33.0M) | ($60.0M) | ($230.0M) |
| Interest paid | ($996.0M) | ($1.0B) | ($779.0M) | ($669.0M) |
| Dividends paid to shareholders | ($894.0M) | ($811.0M) | ($1.3B) | ($1.1B) |
| Net cash flow (used in)/from financing activities – continuing operations | ($3.4B) | $4.6B | ($388.0M) | ($1.5B) |
| Net (decrease)/increase in cash and cash equivalents | ($315.0M) | $797.0M | $63.0M | $67.0M |
| Reclassification to held for sale | $31.0M | ($166.0M) | $0 | ($5.0M) |
| Exchange movements | ($7.0M) | ($65.0M) | $1.0M | $15.0M |
| Net cash and cash equivalents at start of period | $1.2B | $559.0M | $163.0M | $182.0M |
| Net cash and cash equivalents at end of period | $887.0M | $1.1B | $227.0M | $259.0M |
National Grid Plc ADR score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.