QualityDipStocks / Utilities · Natural Gas Distribution
National Grid Transco PLC National Grid NGG
Outside our quality screen, so we don’t track its dips. It’s 11% below its 52-week high.
Outside our quality screen. No fair value estimate for now: its free cash flow is negative.
- Fair value est.
- n/a
- Market Value
- —
- Off 52-wk high
- −11%
- Risk vs market
- Lowbeta 0.31
4 bullish · 5 bearish See why
Key levels
Every level vs today’s $83.95
- 52-wk lowlowest close, 1 year$73.54−12.4%
- PriceFri Oct 30 close$83.95you are here
- 52-wk highhighest close, 1 year$93.93+11.9%
Fair value estimate
No estimate for NGG: negative free cash flow. We’d rather show nothing than a made-up number.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 30 to Oct 30, 252 sessions). Beta = how much NGG moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Moves much less than the market, but its own price swings are 1.7× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- 0.31
- Volatility
- 22% vs 13% SPY
- Correlation SPY
- 0.18
- Correlation QQQ
- 0.05
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 4 of 5
ProfitabilityOperating margin widened to 30.7% in FY2026 from 22.5% in FY2024 (SEC filings).
Balance sheetDebt / equity of 0.1×, below the 1.6× median for the 46 Utilities companies we cover.
ValuationEV/EBITDA of 9.0×, below the 13.5× median for the 43 Utilities companies we cover.
Cash returnsDividend yield of 2.5% ($2.2B paid over 12 months, 50% of earnings).
Top bearish points 5 of 5
ValuationFree cash flow is negative (−$2.9B over the last 12 months), so there’s no cash-flow value under the price.
GrowthSales shrank 7% a year from FY2023 to FY2026.
GrowthSales fell 4% over the last 12 months vs the 12 months before (SEC filings).
ProfitabilityReturn on equity of 8.4%, below the 11% median for the 48 Utilities companies we cover.
QualityDoesn’t pass our quality screen: ROE under 12% and ROIC under 10%; sales down vs the year-ago quarter; net debt 5.7× EBITDA (limit 3×).
Who’s talking about it
Notable investors, executives, analysts and public figures on National Grid Transco PLC National Grid in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 1, 9:09 PM ET.
Compare with peers
Closest in size in Natural Gas Distribution
All fundamentals
P/E 20.3 · FCF yield -3.2% · ROE 8%
Valuation
- P/E
- 20.3×Utilities median 21.2×
- Price / FCF
- n/anegative free cash flow
- FCF yield
- −3.2%
- EV / EBITDA
- 9.0×
- Price / sales
- 3.72×
- Price / book
- 1.67×
- Market cap
- $88.4Blisted
- Enterprise value
- $93.1B
Growth
- Revenue, 12 months
- $23.8B
- Sales growth, 12 months
- −3.8%vs the 12 months before
- Sales growth, 3 yrs
- −6.5%/yrfrom FY2023
- Diluted EPS, 12 months
- $0.65
- EPS growth, last FY
- +6.2%
- Net income, 12 months
- $4.4B
- Net income growth
- +12%12 months vs before
Profitability
- Gross margin
- n/agross profit isn't reported (common for service and financial companies)
- Operating margin
- 30.7%
- Net margin
- 18.3%
- FCF margin
- −12.0%
- Return on equity
- 8%
- Return on invested capital
- 10%
Balance sheet
- Cash & short-term inv.
- $504M
- Total debt
- $5.2B
- Net cash
- −$4.7B
- Debt / equity
- 0.10×
- Interest coverage
- 3.2×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- −$2.9B
- FCF growth, 12 months
- n/anot reported in its SEC filings
- Dividend yield
- 2.47%$2.2B paid
- Payout ratio
- 50%
- Buybacks, 12 months
- n/anot reported in its SEC filings
- Share count, 1 year
- n/ano quarterly diluted share count
- Stock-based comp
- n/anot reported in its SEC filings
Trailing 12 months to Mar 31, 2026; balance sheet at Mar 31, 2026. From National Grid Transco PLC National Grid’s SEC filings, reported in GBP and converted to US dollars. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
Valuation details
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Momentum & 52-week range
RSI 69 · 5 days +2.6%
The business
FCF $-2.8B · Sales −4%
- Free cash flow, 12 months−$2.8B
- Free-cash-flow yield−3.1%
- Free-cash-flow margin−16%
- Gross margin80%
- Operating margin32%
- Return on invested capital5%
- Return on equity8%
- Sales growth (last fiscal year vs prior)−4%
- Net debt / EBITDA5.7×
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.
NGG is outside our quality screen
One text when a published rule fires on one of the 333 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.