NATIONAL GRID PLC (NNGF.DE) Fundamental Analysis & Valuation

FRA:NNGF • GB00BDR05C01

Current stock price

15.3 EUR
-0.5 (-3.16%)
Last:

This NNGF.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. NNGF.DE Profitability Analysis

1.1 Basic Checks

  • NNGF had positive earnings in the past year.
  • NNGF had a positive operating cash flow in the past year.
  • Each year in the past 5 years NNGF has been profitable.
  • NNGF had a positive operating cash flow in each of the past 5 years.
NNGF.DE Yearly Net Income VS EBIT VS OCF VS FCFNNGF.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B 6B

1.2 Ratios

  • NNGF has a Return On Assets of 2.77%. This is in the better half of the industry: NNGF outperforms 72.22% of its industry peers.
  • With a Return On Equity value of 7.72%, NNGF is not doing good in the industry: 83.33% of the companies in the same industry are doing better.
  • Looking at the Return On Invested Capital, with a value of 4.11%, NNGF is in line with its industry, outperforming 44.44% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for NNGF is in line with the industry average of 5.37%.
Industry RankSector Rank
ROA 2.77%
ROE 7.72%
ROIC 4.11%
ROA(3y)4.49%
ROA(5y)3.68%
ROE(3y)13.91%
ROE(5y)11.98%
ROIC(3y)4.25%
ROIC(5y)4.02%
NNGF.DE Yearly ROA, ROE, ROICNNGF.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

1.3 Margins

  • NNGF has a Profit Margin of 16.43%. This is amongst the best in the industry. NNGF outperforms 94.44% of its industry peers.
  • In the last couple of years the Profit Margin of NNGF has grown nicely.
  • Looking at the Operating Margin, with a value of 29.57%, NNGF belongs to the top of the industry, outperforming 94.44% of the companies in the same industry.
  • In the last couple of years the Operating Margin of NNGF has grown nicely.
  • NNGF has a Gross Margin of 87.92%. This is amongst the best in the industry. NNGF outperforms 94.44% of its industry peers.
  • In the last couple of years the Gross Margin of NNGF has remained more or less at the same level.
Industry RankSector Rank
OM 29.57%
PM (TTM) 16.43%
GM 87.92%
OM growth 3Y9.26%
OM growth 5Y3.21%
PM growth 3Y7.01%
PM growth 5Y12.68%
GM growth 3Y1.78%
GM growth 5Y0.92%
NNGF.DE Yearly Profit, Operating, Gross MarginsNNGF.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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2

2. NNGF.DE Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NNGF is destroying value.
  • NNGF has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, NNGF has more shares outstanding
  • NNGF has a better debt/assets ratio than last year.
NNGF.DE Yearly Shares OutstandingNNGF.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B
NNGF.DE Yearly Total Debt VS Total AssetsNNGF.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B

2.2 Solvency

  • Based on the Altman-Z score of 0.99, we must say that NNGF is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of NNGF (0.99) is worse than 66.67% of its industry peers.
  • NNGF has a Debt/Equity ratio of 1.14. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of NNGF (1.14) is better than 77.78% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.14
Debt/FCF N/A
Altman-Z 0.99
ROIC/WACC0.9
WACC4.58%
NNGF.DE Yearly LT Debt VS Equity VS FCFNNGF.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B 40B

2.3 Liquidity

  • NNGF has a Current Ratio of 0.97. This is a bad value and indicates that NNGF is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NNGF has a Current ratio (0.97) which is comparable to the rest of the industry.
  • A Quick Ratio of 0.90 indicates that NNGF may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.90, NNGF is in the better half of the industry, outperforming 61.11% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.97
Quick Ratio 0.9
NNGF.DE Yearly Current Assets VS Current LiabilitesNNGF.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. NNGF.DE Growth Analysis

3.1 Past

  • NNGF shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -7.56%.
  • Measured over the past 5 years, NNGF shows a small growth in Earnings Per Share. The EPS has been growing by 7.68% on average per year.
  • The Revenue has decreased by -9.52% in the past year.
  • The Revenue has been growing slightly by 4.80% on average over the past years.
EPS 1Y (TTM)-7.56%
EPS 3Y9.11%
EPS 5Y7.68%
EPS Q2Q%6.05%
Revenue 1Y (TTM)-9.52%
Revenue growth 3Y0.21%
Revenue growth 5Y4.8%
Sales Q2Q%-11.25%

3.2 Future

  • The Earnings Per Share is expected to grow by 8.34% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 9.22% on average over the next years. This is quite good.
EPS Next Y8.98%
EPS Next 2Y10.22%
EPS Next 3Y9.24%
EPS Next 5Y8.34%
Revenue Next Year-6.45%
Revenue Next 2Y1.78%
Revenue Next 3Y3.99%
Revenue Next 5Y9.22%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
NNGF.DE Yearly Revenue VS EstimatesNNGF.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 10B 20B 30B
NNGF.DE Yearly EPS VS EstimatesNNGF.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 0.2 0.4 0.6 0.8 1

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3

4. NNGF.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • NNGF is valuated rather expensively with a Price/Earnings ratio of 17.59.
  • Based on the Price/Earnings ratio, NNGF is valued a bit cheaper than the industry average as 61.11% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 25.79. NNGF is valued slightly cheaper when compared to this.
  • NNGF is valuated correctly with a Price/Forward Earnings ratio of 14.84.
  • NNGF's Price/Forward Earnings is on the same level as the industry average.
  • When comparing the Price/Forward Earnings ratio of NNGF to the average of the S&P500 Index (23.80), we can say NNGF is valued slightly cheaper.
Industry RankSector Rank
PE 17.59
Fwd PE 14.84
NNGF.DE Price Earnings VS Forward Price EarningsNNGF.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NNGF is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 6.74
NNGF.DE Per share dataNNGF.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • NNGF has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.96
PEG (5Y)2.29
EPS Next 2Y10.22%
EPS Next 3Y9.24%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. NNGF.DE Dividend Analysis

5.1 Amount

  • NNGF has a Yearly Dividend Yield of 3.45%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 3.93, NNGF is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.91, NNGF pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.45%

5.2 History

  • The dividend of NNGF is nicely growing with an annual growth rate of 10.55%!
Dividend Growth(5Y)10.55%
Div Incr Years0
Div Non Decr Years0
NNGF.DE Yearly Dividends per shareNNGF.DE Yearly Dividends per shareYearly Dividends per share 2018 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

  • 56.13% of the earnings are spent on dividend by NNGF. This is a bit on the high side, but may be sustainable.
  • The dividend of NNGF is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP56.13%
EPS Next 2Y10.22%
EPS Next 3Y9.24%
NNGF.DE Yearly Income VS Free CF VS DividendNNGF.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B 6B
NNGF.DE Dividend Payout.NNGF.DE Dividend Payout, showing the Payout Ratio.NNGF.DE Dividend Payout.PayoutRetained Earnings

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NNGF.DE Fundamentals: All Metrics, Ratios and Statistics

NATIONAL GRID PLC

FRA:NNGF (3/18/2026, 7:00:00 PM)

15.3

-0.5 (-3.16%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryMulti-Utilities
Earnings (Last)11-06
Earnings (Next)05-14
Inst Owners57.81%
Inst Owner ChangeN/A
Ins Owners0.1%
Ins Owner ChangeN/A
Market Cap15.21B
Revenue(TTM)17.48B
Net Income(TTM)2.87B
Analysts78.33
Price Target14.77 (-3.46%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.45%
Yearly Dividend0.41
Dividend Growth(5Y)10.55%
DP56.13%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-0.34%
PT rev (3m)5.58%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.06%
EPS NY rev (3m)0.82%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.26%
Revenue NY rev (3m)0.38%
Valuation
Industry RankSector Rank
PE 17.59
Fwd PE 14.84
P/S 0.75
P/FCF N/A
P/OCF 1.66
P/B 0.35
P/tB 0.54
EV/EBITDA 6.74
EPS(TTM)0.87
EY5.69%
EPS(NY)1.03
Fwd EY6.74%
FCF(TTM)-2.2
FCFYN/A
OCF(TTM)9.19
OCFY60.08%
SpS20.35
BVpS43.3
TBVpS28.15
PEG (NY)1.96
PEG (5Y)2.29
Graham Number29.11
Profitability
Industry RankSector Rank
ROA 2.77%
ROE 7.72%
ROCE 5.47%
ROIC 4.11%
ROICexc 4.29%
ROICexgc 5.01%
OM 29.57%
PM (TTM) 16.43%
GM 87.92%
FCFM N/A
ROA(3y)4.49%
ROA(5y)3.68%
ROE(3y)13.91%
ROE(5y)11.98%
ROIC(3y)4.25%
ROIC(5y)4.02%
ROICexc(3y)4.48%
ROICexc(5y)4.23%
ROICexgc(3y)5.3%
ROICexgc(5y)5%
ROCE(3y)5.75%
ROCE(5y)5.44%
ROICexgc growth 3Y-2.54%
ROICexgc growth 5Y-0.66%
ROICexc growth 3Y-0.77%
ROICexc growth 5Y-1.18%
OM growth 3Y9.26%
OM growth 5Y3.21%
PM growth 3Y7.01%
PM growth 5Y12.68%
GM growth 3Y1.78%
GM growth 5Y0.92%
F-Score5
Asset Turnover0.17
Health
Industry RankSector Rank
Debt/Equity 1.14
Debt/FCF N/A
Debt/EBITDA 5.5
Cap/Depr 387.71%
Cap/Sales 55.95%
Interest Coverage 2.7
Cash Conversion 102.64%
Profit Quality N/A
Current Ratio 0.97
Quick Ratio 0.9
Altman-Z 0.99
F-Score5
WACC4.58%
ROIC/WACC0.9
Cap/Depr(3y)361.46%
Cap/Depr(5y)334.74%
Cap/Sales(3y)40%
Cap/Sales(5y)37.08%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-7.56%
EPS 3Y9.11%
EPS 5Y7.68%
EPS Q2Q%6.05%
EPS Next Y8.98%
EPS Next 2Y10.22%
EPS Next 3Y9.24%
EPS Next 5Y8.34%
Revenue 1Y (TTM)-9.52%
Revenue growth 3Y0.21%
Revenue growth 5Y4.8%
Sales Q2Q%-11.25%
Revenue Next Year-6.45%
Revenue Next 2Y1.78%
Revenue Next 3Y3.99%
Revenue Next 5Y9.22%
EBIT growth 1Y-1.73%
EBIT growth 3Y9.49%
EBIT growth 5Y8.16%
EBIT Next Year54.17%
EBIT Next 3Y24.85%
EBIT Next 5Y19.13%
FCF growth 1Y-629.77%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y8.99%
OCF growth 3Y2.21%
OCF growth 5Y7.68%

NATIONAL GRID PLC / NNGF.DE Fundamental Analysis FAQ

What is the fundamental rating for NNGF stock?

ChartMill assigns a fundamental rating of 4 / 10 to NNGF.DE.


What is the valuation status for NNGF stock?

ChartMill assigns a valuation rating of 3 / 10 to NATIONAL GRID PLC (NNGF.DE). This can be considered as Overvalued.


How profitable is NATIONAL GRID PLC (NNGF.DE) stock?

NATIONAL GRID PLC (NNGF.DE) has a profitability rating of 7 / 10.


Can you provide the PE and PB ratios for NNGF stock?

The Price/Earnings (PE) ratio for NATIONAL GRID PLC (NNGF.DE) is 17.59 and the Price/Book (PB) ratio is 0.35.


How financially healthy is NATIONAL GRID PLC?

The financial health rating of NATIONAL GRID PLC (NNGF.DE) is 2 / 10.