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National Grid Transco
(NYSE:NGG)
National Grid Transco (NGG) vs. SPDR S&P 500 ETF (SPY)
National Grid Transco Business Overview & Revenue Model
National Grid Transco Key Performance Indicators (KPIs)
Reveals the profitability of each business segment, highlighting which areas are driving earnings and where there may be challenges or opportunities for growth.
Main Street DataNational Grid Transco Earnings Call Summary
National Grid Transco Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 18.38B | 18.38B | 19.85B | 21.66B | 18.45B | 13.66B |
| Gross Profit | 18.38B | 14.23B | 14.55B | 13.41B | 11.42B | 8.05B |
| EBITDA | 7.17B | 7.63B | 6.83B | 5.59B | 6.04B | 3.93B |
| Net Income | 2.90B | 2.90B | 2.29B | 7.80B | 2.35B | 1.64B |
Balance Sheet | ||||||
| Total Assets | 106.74B | 106.74B | 98.33B | 92.70B | 94.86B | 67.22B |
| Cash, Cash Equivalents and Short-Term Investments | 6.93B | 6.93B | 4.25B | 2.77B | 3.35B | 2.50B |
| Total Debt | 47.54B | 47.54B | 47.07B | 42.98B | 45.47B | 31.22B |
| Total Liabilities | 68.92B | 68.92B | 68.43B | 63.13B | 71.00B | 47.36B |
| Stockholders Equity | 37.80B | 37.80B | 29.87B | 29.54B | 23.83B | 19.84B |
Cash Flow | ||||||
| Free Cash Flow | -1.97B | -2.50B | -514.00M | 573.00M | -119.00M | -804.00M |
| Operating Cash Flow | 6.81B | 6.81B | 6.94B | 6.90B | 5.42B | 3.80B |
| Investing Cash Flow | -10.57B | -10.57B | -7.50B | 240.00M | -14.22B | -5.21B |
| Financing Cash Flow | 4.53B | 4.53B | 987.00M | -7.17B | 8.82B | 1.50B |
National Grid Transco Technical Analysis
National Grid Transco Risk Analysis
National Grid Transco Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $96.29B | 20.25 | 9.60% | 3.39% | 4.07% | 9.94% | |
74 Outperform | $74.18B | 19.11 | 8.31% | 4.03% | -6.02% | 7.24% | |
72 Outperform | $64.39B | 17.60 | 12.85% | 3.20% | 7.66% | 37.42% | |
72 Outperform | $46.86B | 16.60 | 10.31% | 3.36% | 6.07% | 15.20% | |
69 Neutral | $100.65B | 22.72 | 13.06% | 2.99% | 9.40% | -6.05% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
63 Neutral | $50.65B | 20.19 | 9.27% | 4.53% | 12.72% | 4.90% |
National Grid Transco Corporate Events
On November 6, 2025, National Grid plc announced its half-year results for the period ending September 30, 2025, highlighting a strong financial performance with a 17% increase in operating profit and a 21% rise in profit before tax. The company invested a record £5 billion in the first half of the year, with plans to invest over £11 billion annually, focusing on infrastructure resilience and economic growth. Strategic initiatives include securing supply chains, expanding talent, and supporting AI Growth Zones in the UK. Key projects and regulatory approvals are progressing well, with significant investments in electricity transmission and modernization plans in the US. Zoë Yujnovich is set to succeed John Pettigrew as CEO on November 17, 2025.
On November 6, 2025, National Grid announced its half-year results for the period ending September 30, 2025, highlighting a strong operational performance with a 17% increase in statutory operating profit and a 21% rise in profit before tax compared to the previous year. The company invested a record £5 billion in the first half of the year and is on track to invest over £11 billion annually, supporting strategic initiatives such as AI Growth Zones and significant infrastructure projects in the UK and US. The announcement also marked a leadership transition, with Zoë Yujnovich set to succeed John Pettigrew as CEO on November 17, 2025.
On October 1, 2025, National Grid plc announced an update on its total voting rights, reporting that as of September 30, 2025, the company had 4,961,449,896 shares with voting rights. This figure is crucial for shareholders to determine their notification requirements under the FCA’s Disclosure Guidance and Transparency Rules. Additionally, on October 8, 2025, the company disclosed transactions by key executives, including the Chief Financial Officer, Chief Executive, and Chief People Officer, involving the purchase of partnership shares under the Share Incentive Plan. These transactions, conducted on October 7, 2025, were part of routine monthly purchases and were reported in compliance with the Market Abuse Regulation.
National Grid plc released a pre-close update for the six months ending 30 September 2025, indicating that the group’s performance aligns with expectations. The UK Electricity Transmission and Distribution sectors are expected to have an even profit distribution across the year, while the US regulated businesses anticipate higher profits in the second half due to fewer storms and new distribution rates. The announcement suggests stable operations and potential positive impacts on profitability, maintaining National Grid’s industry position.
On September 1, 2025, National Grid plc announced an update on its voting rights, reporting a total of 4,961,315,993 shares with voting rights as of August 31, 2025. This information is crucial for shareholders to determine their notification requirements under the FCA’s rules. Additionally, the company disclosed the appointment of Zoë Yujnovich as Chief Executive Designate, effective September 1, 2025. She was granted share awards under the Long Term Performance Plan, which align with the Directors’ Remuneration Policy approved in July 2025. These developments reflect National Grid’s ongoing commitment to transparency and strategic leadership transitions, potentially impacting shareholder engagement and corporate governance.
On September 24, 2025, National Grid announced that John Pettigrew, the current Chief Executive, will retire on November 16, 2025. He is set to join the Board of BAE Systems plc as a Non-executive Director and member of its Audit and Risk Committee starting February 23, 2026. This leadership transition could impact National Grid’s strategic direction and stakeholder relationships.
On August 1, 2025, National Grid plc announced an update on its voting rights, revealing that as of July 31, 2025, the company had 4,961,230,104 shares with voting rights. This information is significant for shareholders to determine their interests under the FCA’s Disclosure Guidance and Transparency Rules. Additionally, on August 8, 2025, National Grid disclosed transactions involving its senior management under the Market Abuse Regulation, highlighting monthly purchases of securities under the Share Incentive Plan. Furthermore, on August 19, 2025, the company published a prospectus for its Euro 20 billion Euro Medium Term Note Programme, approved by the Financial Conduct Authority, which could impact its financial strategy and stakeholder interests.
On August 27, 2025, National Grid plc responded to Ofgem’s RIIO-ET3 Draft Determination, which is part of the ongoing process to finalize the price control for their Electricity Transmission business. The company acknowledged Ofgem’s commitment to an £80 billion investment plan but expressed concerns that the draft does not fully address the practical challenges of significantly expanding the electricity system. National Grid emphasized the need for changes to ensure the framework is investable and workable, allowing for a substantial increase in investment and efficient project progression. These adjustments are crucial for meeting business plan commitments, including accelerating energy system decarbonization and achieving cost savings for consumers.
On August 14, 2025, National Grid plc announced the sale of its Grain LNG business to a consortium consisting of Centrica plc and Energy Capital Partners LLC for approximately £1.66 billion. This move aligns with National Grid’s strategy to streamline its operations and focus on its core network businesses, following the sale of its NG Renewables business earlier in May 2025. The transaction is subject to regulatory approvals and is expected to conclude later this year, marking a significant step in National Grid’s strategic refocusing efforts.