Financials in USD. Standardized financial statements.
A compact view of how National Grid plc turns revenue into operating income and net income.
| Metric | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $17.97B | $18.38B | $19.85B | $21.66B | $18.45B | $18.45B | $13.36B | $14.93B | $15.25B | $15.04B |
| Revenue Growth? | -2.2% | -7.4% | -8.4% | +17.4% | 0.0% | +38.1% | -10.5% | -2.1% | +1.4% | 0.0% |
| Cost of Revenue? | $12.10B | $4.15B | $5.27B | $8.62B | $6.10B | $6.10B | $4.04B | $3.15B | $2.84B | $2.38B |
| Gross Profit? | $5.87B | $14.23B | $14.58B | $13.04B | $12.35B | $12.35B | $9.32B | $11.79B | $12.41B | $12.65B |
| Gross Margin? | +32.7% | +77.4% | +73.4% | +60.2% | +66.9% | +66.9% | +69.8% | +78.9% | +81.4% | +84.1% |
| Operating Expenses? | $0 | $9.29B | $10.10B | $8.16B | $7.98B | $7.98B | $7.04B | $8.91B | $8.92B | $9.44B |
| Operating Income? | $5.87B | $4.93B | $4.47B | $4.88B | $4.37B | $4.37B | $2.28B | $2.87B | $3.49B | $3.21B |
| EBITDA? | $8.15B | $7.63B | $6.83B | $7.25B | $6.43B | $6.43B | $3.83B | $4.45B | $5.33B | $4.74B |
| Income Before Tax | $4.25B | $3.65B | $3.05B | $3.59B | $3.44B | $3.44B | $1.40B | $1.84B | $2.66B | $2.18B |
| Income Tax Expense | $954.27M | $821.00M | $831.00M | $876.00M | $1.26B | $1.26B | $370.00M | $339.00M | -$889.00M | $374.00M |
| Net Income? | $3.29B | $2.90B | $2.29B | $7.80B | $2.35B | $2.35B | $1.26B | $1.51B | $3.55B | $7.79B |
| EPS? | $3.35 | $3.04 | $2.85 | $9.55 | $3.13 | $3.01 | $1.71 | $2.06 | $4.44 | $3.44 |
| Diluted EPS? | $3.30 | $3.03 | $2.84 | $9.50 | $3.11 | $2.99 | $1.70 | $2.05 | $4.42 | $3.42 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality