National Grid plc
PosiFunda Ratios Only on PositoAI
PositoAI's own ratios from National Grid plc's yearly results (2023–2026), compared with companies in United Kingdom. Tap ? on any ratio for what it means.
What stands out
- Shareholder Slice Ratio: Share count rose 24% in 3 years, so each share's slice of the company became smaller. Dividends paid equalled 58% of profit over the same period. Bigger rise in share count than 97% of companies in United Kingdom.
- Self-Funding Ratio: Over the last 3 years its own operating cash paid for 79% of its investment spending (capex); the rest came from other sources such as borrowing, cash reserves or new shares. Lower than 93% of companies in United Kingdom.
- Cash Cushion Ratio: Debt, after subtracting cash, equals 71% of its market value (net debt). Lower than 86% of companies in United Kingdom.
Where £100 of sales goes
Latest year (Mar 2026). Taxes and other income are not shown, so the parts need not add up to 100.
Cash quality
Profit Cash Ratio
£256Over the last 3 years, every £100 of reported profit came with £256 of operating cash.
Higher than 81% of companies in United Kingdom.
Self-Funding Ratio
0.8×Over the last 3 years its own operating cash paid for 79% of its investment spending (capex); the rest came from other sources such as borrowing, cash reserves or new shares.
Lower than 93% of companies in United Kingdom.
Cash Locked Ratio
−£8Money owed to suppliers is larger than money owed by customers plus stock: £8 per £100 of sales comes from others' credit, against £7 from others' credit three years earlier.
Less money tied up than 80% of companies in United Kingdom.
Growth quality
Steadiness Ratio
0/3 · 2/3Sales grew in 0 of the last 3 years; profit grew in 2 of 3.
Less steady than 83% of companies in United Kingdom.
Growth Efficiency Ratio
—Sales fell 18%
Sales fell 18% in 3 years, so extra profit per extra sales cannot be measured.
Asset Productivity Ratio
-18% / +17%In 3 years sales changed by -18% while total assets changed by +17%. Assets grew faster than sales.
Balance-sheet strength
Debt Due Cover Ratio
2.1×Debt due within a year is covered 2.1 times by its yearly operating cash.
Lower than 78% of companies in United Kingdom.
Cash Cushion Ratio
−71%Debt, after subtracting cash, equals 71% of its market value (net debt).
Lower than 86% of companies in United Kingdom.
Tangible Assets Ratio
88%Of every £100 the company owns, £88 is in tangible assets such as plants, cash, stock and receivables; the rest is goodwill and other intangibles.
More tangible than 55% of companies in United Kingdom.
Tangible Net Worth Ratio
66%Of every £100 of net worth, £66 is tangible; the rest is goodwill and other intangibles, often from buying other companies.
More tangible than 61% of companies in United Kingdom.
Shareholders
Standard fundamentals
P/E, P/B, ROE, debt, growth and more (14)
National Grid plc owes £0.64 for every £1 it owns. Net profit rose 12% in the year to Mar 2026, and shrank 25% a year on average over 3 years.
Compared with companies in United Kingdom · latest annual results Mar 2026.
P/E ratio
18.8Investors pay £18.8 for every £1 of National Grid plc's yearly profit, lower than 59% of companies in United Kingdom.
P/B ratio
1.56The share price is 1.56 times National Grid plc's book value per share, lower than 78% of companies in United Kingdom.
Market cap
£61.4 BThe total market value of all of National Grid plc's shares at today's price (share price × number of shares), larger than 88% of companies in United Kingdom. PosiCap size class: Tito Cap.
Net worth (book value)
£39.3 BWhat National Grid plc would have left on paper if it sold everything it owns and paid everything it owes, from its latest balance sheet (31 Mar 2026).
Book value per share
£7.82Net worth divided by the number of shares. The share price of £12.21 is 1.6 times this, which is the P/B above.
Return on equity (ROE)
8.4%National Grid plc earned 8.4% on its shareholders' money over the last year, lower than 71% of companies in United Kingdom.
Owes vs Owns
0.64×National Grid plc owes £0.64 for every £1 it owns (moderate), higher than 50% of companies in United Kingdom.
Dividend yield
3.96%National Grid plc pays 3.96% of its share price as dividends a year, higher than 82% of dividend-paying companies in United Kingdom.
Revenue growth
-4%Revenue fell 4% in the year to Mar 2026, and shrank 7% a year on average over 3 years.
Profit growth
+12%Net profit rose 12% in the year to Mar 2026, and shrank 25% a year on average over 3 years.
Profit margin
18.3%National Grid plc keeps £18 of every £100 of revenue as net profit.
Cash quality
2.4×Cash from National Grid plc's business was 2.4× its reported profit in the year to Mar 2026 — its profit turned into cash.
Interest cover
3.5×National Grid plc's operating profit covered its interest costs 3.5 times in the year to Mar 2026.
Cash vs debt
Net debtNational Grid plc had £43.9 B more debt than cash (net debt) at Mar 2026.
Questions
What is National Grid plc's P/E ratio?
Investors pay £18.8 for every £1 of National Grid plc's yearly profit, lower than 59% of companies in United Kingdom.
How is P/B calculated on PositoAI?
P/B is market cap divided by net worth from the latest balance sheet. For National Grid plc: £61.4 B ÷ £39.3 B (31 Mar 2026) = 1.6.
What is National Grid plc's return on equity?
National Grid plc earned 8.4% on its shareholders' money over the last year, lower than 71% of companies in United Kingdom.
How much does National Grid plc owe compared with what it owns?
National Grid plc owes £0.64 for every £1 it owns (moderate), higher than 50% of companies in United Kingdom.
Does National Grid plc pay a dividend?
Yes. National Grid plc pays 3.96% of its share price as dividends a year, higher than 82% of dividend-paying companies in United Kingdom.
Is National Grid plc's revenue growing?
Revenue fell 4% in the year to Mar 2026, and shrank 7% a year on average over 3 years.
Figures from the company's yearly results and PositoAI's own data. Full tables are on the Go Deep tab. What each figure means. PositoAI is for research and education only and is not investment advice.