National Grid plc (NGG)

National Grid Cash Flow Statement

Financials in millions GBP. Fiscal year is April - March.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Net Income	5,151	4,934	4,475	4,879	4,371	2,401
Depreciation & Amortization	2,219	2,175	2,061	1,984	1,830	1,485
Stock-Based Compensation	38	37	37	48	38	23
Other Adjustments	57	-103	971	-825	-293	-22
Changes in Income Taxes Payable	-117	-183	-342	-89	-298	-91
Changes in Other Operating Activities	474	-52	-263	901	624	665
Operating Cash Flow	7,822	6,808	6,939	6,343	5,490	3,876
Operating Cash Flow Growth	16.92%	-1.89%	9.40%	15.54%	41.64%	-6.56%
Capital Expenditures	-9,239	-8,780	-6,904	-6,325	-5,098	-4,209
Sale of Property, Plant & Equipment	26	26	52	87	26	7
Purchases of Intangible Assets	-543	-526	-549	-567	-446	-399
Purchases of Investments	-488	-518	-413	-538	-462	-180
Proceeds from Sale of Investments	83	85	102	116	215	66
Payments for Business Acquisitions	-	-	-19	-19	-7,853	-26
Proceeds from Business Divestments	1,481	1,263	681	7,492	413	-
Other Investing Activities	3,392	-2,121	-449	-6	-805	-375
Investing Cash Flow	-4,711	-10,593	-7,601	804	-13,885	-4,939
Short-Term Debt Issued	134	925	544	-511	-11	-619
Net Short-Term Debt Issued (Repaid)	134	925	544	-511	-11	-619
Long-Term Debt Issued	3,663	3,237	5,563	11,908	12,347	5,150
Long-Term Debt Repaid	-3,583	-2,861	-1,701	-15,260	-1,261	-1,654
Net Long-Term Debt Issued (Repaid)	80	376	3,862	-3,352	11,086	3,496
Issuance of Common Stock	41	7,019	20	16	33	16
Repurchase of Common Stock	-3	-169	-4	1	-3	-2
Net Common Stock Issued (Repurchased)	38	6,850	16	17	30	14
Common Dividends Paid	-1,612	-1,529	-1,718	-1,607	-922	-1,413
Other Financing Activities	-2,098	-2,094	-1,717	-1,720	-2,414	-728
Financing Cash Flow	-3,458	4,528	987	-6,966	8,919	452
Effect of Exchange Rate Changes on Cash and Cash Equivalents	35	-23	-1	7	5	-7
Net Cash Flow	-347	765	427	-35	31	95
Free Cash Flow	-1,417	-1,972	35	18	392	-333
Free Cash Flow Growth	-	-	94.44%	-95.41%	-	-
FCF Margin	-8.11%	-10.73%	0.18%	0.08%	2.12%	-2.44%
Free Cash Flow Per Share	-1.44	-2.09	0.04	0.02	0.54	-0.47
Levered Free Cash Flow	-3,577	-2,637	1,248	405	10,486	2,367
Unlevered Free Cash Flow	-2,758	-3,016	-2,193	159.47	-169	-268.45

Updated Sep 30, 2025. Data Source: Fiscal.ai. Utilities template. Financial Sources.

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