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
Period Ending	Mar '26 Mar 19, 2026	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
Market Capitalization	61,296	49,387	39,652	40,312	42,733	30,665
Market Cap Growth	31.11%	24.55%	-1.64%	-5.67%	39.36%	-7.66%
Enterprise Value	103,179	88,177	84,004	87,713	84,646	61,949
PE Ratio	21.15	17.02	17.32	5.17	18.16	18.70
PS Ratio	3.51	2.69	2.00	1.86	2.32	2.24
PB Ratio	1.65	1.31	1.33	1.36	1.79	1.54
P/FCF Ratio	-	-	1132.92	70.35	36.40	121.69
P/OCF Ratio	7.84	7.25	5.71	5.84	6.81	6.87
EV/Sales Ratio	5.90	4.80	4.23	4.05	4.59	4.53
EV/EBITDA Ratio	14.10	12.98	11.55	15.02	14.03	17.27
EV/EBIT Ratio	19.29	17.67	15.04	20.86	20.13	25.71
EV/FCF Ratio	-72.82	-	2400.12	153.08	72.10	245.83
Debt / Equity Ratio	1.23	1.29	1.61	1.49	1.95	1.61
Debt / EBITDA Ratio	6.32	7.04	6.52	7.39	7.70	8.65
Debt / FCF Ratio	-	-	1377.09	76.97	39.57	126.93
Net Debt / Equity Ratio	1.13	1.10	1.47	1.40	1.81	1.49
Net Debt / EBITDA Ratio	5.86	6.15	6.04	7.08	7.14	8.22
Net Debt / FCF Ratio	-29.54	-21.17	1255.43	72.14	36.72	117.02
Quick Ratio	0.75	1.01	0.64	0.69	0.27	0.54
Current Ratio	0.97	1.35	0.91	1.00	0.73	1.06
Asset Turnover	0.17	0.18	0.21	0.23	0.23	0.20
Return on Equity (ROE)	7.87%	8.36%	7.46%	10.16%	9.99%	6.58%
Return on Assets (ROA)	3.22%	3.04%	3.65%	2.80%	3.24%	2.23%
Return on Capital Employed (ROCE)	5.60%	5.20%	6.40%	5.00%	6.00%	4.20%
Earnings Yield	4.69%	5.88%	5.78%	19.34%	5.51%	5.35%
FCF Yield	-2.31%	-3.99%	0.09%	1.42%	2.75%	0.82%
Dividend Yield	3.83%	4.83%	6.63%	6.44%	5.80%	7.99%
Payout Ratio	56.13%	52.69%	75.02%	20.61%	39.18%	86.16%
Buyback Yield / Dilution	-19.31%	-27.50%	-0.90%	-1.66%	-2.15%	-1.78%
Total Shareholder Return	-15.48%	-22.67%	5.73%	4.78%	3.65%	6.21%

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