National Grid plc
NG.LUtilitiesLSEUtilities - Regulated Electric · Last scanned May 27, 2026
Scan Results
Daily timeframe1 of 4 indicators bullish as of May 26
National Grid plc engages in the transmission and distribution of electricity and gas. Valued at $64.38B, NG.L is a large-cap name in its sector. It operates through UK Electricity Transmission, UK Electricity Distribution, New England, New York, National Grid Ventures, and Other segments.
Market Cap
$64.38B
Beta
0.62
P/E (TTM)
21.57
P/E (Fwd)
13.42
EPS (TTM)
$0.60
EPS (Fwd)
$0.96
ROE
8.4%
ROA
3.0%
Cash
$2.83B
Total Debt
$47.77B
Free CF
-$3.24B
52W Change
19.6%
Annual Financials
Cash vs Debt
On the balance sheet, NG.L has $2.83B in cash with $47.77B in obligations. The ability to service this debt comfortably depends on continued operational cash generation. The company is burning cash, with free cash flow at -$3.24B. This typically occurs when a company is investing aggressively in growth, but sustained cash burn can strain the balance sheet. ROE of 8.4% points to decent capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 3.0% is on the lower side, which is common in asset-heavy industries. Revenue has been relatively flat, moving from $18.45B (2022) to $18.38B (2025).
The relatively low beta of 0.62 suggests NG.L is a less volatile holding compared to the broader index. The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. No single metric tells the full story. Reviewing NG.L's risk profile alongside its fundamentals and technical indicators provides a more complete picture.