NATIONAL GRID PLC (NNGF.DE) Stock Fundamental Analysis
Europe • Frankfurt Stock Exchange • FRA:NNGF • GB00BDR05C01
15.3 EUR
+0.3 (+2%)
Last: Feb 11, 2026, 07:00 PM
Taking everything into account, NNGF scores 4 out of 10 in our fundamental rating. NNGF was compared to 18 industry peers in the Multi-Utilities industry. NNGF has a medium profitability rating, but doesn't score so well on its financial health evaluation. NNGF is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
- In the past year NNGF was profitable.
- NNGF had a positive operating cash flow in the past year.
- In the past 5 years NNGF has always been profitable.
- NNGF had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- NNGF's Return On Assets of 2.77% is on the low side compared to the rest of the industry. NNGF is outperformed by 61.11% of its industry peers.
- NNGF has a Return On Equity of 7.72%. This is amonst the worse of the industry: NNGF underperforms 83.33% of its industry peers.
- Looking at the Return On Invested Capital, with a value of 4.11%, NNGF is doing worse than 66.67% of the companies in the same industry.
- NNGF had an Average Return On Invested Capital over the past 3 years of 4.25%. This is in line with the industry average of 5.84%.
| Industry Rank | Sector 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%
1.3 Margins
- NNGF's Profit Margin of 16.43% is amongst the best of the industry. NNGF outperforms 94.44% of its industry peers.
- NNGF's Profit Margin has improved in the last couple of years.
- The Operating Margin of NNGF (29.57%) is better than 100.00% of its industry peers.
- In the last couple of years the Operating Margin of NNGF has grown nicely.
- NNGF's Gross Margin of 87.92% is amongst the best of 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 Rank | Sector 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%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NNGF is destroying value.
- Compared to 1 year ago, NNGF has more shares outstanding
- NNGF has more shares outstanding than it did 5 years ago.
- NNGF has a better debt/assets ratio than last year.
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.
- NNGF's Altman-Z score of 0.99 is on the low side compared to the rest of the industry. NNGF is outperformed by 66.67% of its industry peers.
- A Debt/Equity ratio of 1.14 is on the high side and indicates that NNGF has dependencies on debt financing.
- Looking at the Debt to Equity ratio, with a value of 1.14, NNGF is in the better half of the industry, outperforming 72.22% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.14 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.99 |
ROIC/WACC0.9
WACC4.58%
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's Current ratio of 0.97 is fine compared to the rest of the industry. NNGF outperforms 61.11% of its industry peers.
- NNGF has a Quick 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's Quick ratio of 0.90 is fine compared to the rest of the industry. NNGF outperforms 61.11% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.97 | ||
| Quick Ratio | 0.9 |
3. Growth
3.1 Past
- The earnings per share for NNGF have decreased by -7.56% in the last year.
- 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.
- Looking at the last year, NNGF shows a decrease in Revenue. The Revenue has decreased by -9.52% in the last year.
- Measured over the past years, NNGF shows a small growth in Revenue. The Revenue has been growing by 4.80% on average per year.
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
- Based on estimates for the next years, NNGF will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.01% on average per year.
- NNGF is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.11% yearly.
EPS Next Y8.91%
EPS Next 2Y10.77%
EPS Next 3Y9.26%
EPS Next 5Y8.01%
Revenue Next Year-6.7%
Revenue Next 2Y2.06%
Revenue Next 3Y4.14%
Revenue Next 5Y9.11%
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.
4. Valuation
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 17.79, NNGF is valued on the expensive side.
- The rest of the industry has a similar Price/Earnings ratio as NNGF.
- When comparing the Price/Earnings ratio of NNGF to the average of the S&P500 Index (28.18), we can say NNGF is valued slightly cheaper.
- The Price/Forward Earnings ratio is 14.80, which indicates a correct valuation of NNGF.
- NNGF's Price/Forward Earnings is on the same level as the industry average.
- NNGF's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.01.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.79 | ||
| Fwd PE | 14.8 |
4.2 Price Multiples
- NNGF's Enterprise Value to EBITDA ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 6.75 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates NNGF does not grow enough to justify the current Price/Earnings ratio.
- NNGF has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2
PEG (5Y)2.32
EPS Next 2Y10.77%
EPS Next 3Y9.26%
5. Dividend
5.1 Amount
- NNGF has a Yearly Dividend Yield of 3.68%. Purely for dividend investing, there may be better candidates out there.
- NNGF's Dividend Yield is slightly below the industry average, which is at 4.14.
- NNGF's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.68% |
5.2 History
- On average, the dividend of NNGF grows each year by 10.55%, which is quite nice.
Dividend Growth(5Y)10.55%
Div Incr Years0
Div Non Decr Years0
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.
- NNGF's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP56.13%
EPS Next 2Y10.77%
EPS Next 3Y9.26%
FRA:NNGF (2/11/2026, 7:00:00 PM)
15.3
+0.3 (+2%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryMulti-Utilities
Earnings (Last)11-06 2025-11-06/bmo
Earnings (Next)05-13 2026-05-13/amc
Inst Owners63.09%
Inst Owner ChangeN/A
Ins Owners0.1%
Ins Owner ChangeN/A
Market Cap15.20B
Revenue(TTM)17.48B
Net Income(TTM)2.87B
Analysts78.26
Price Target14.82 (-3.14%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.68% |
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)5.28%
PT rev (3m)7.45%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.23%
EPS NY rev (3m)1.5%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.18%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.79 | ||
| Fwd PE | 14.8 | ||
| P/S | 0.76 | ||
| P/FCF | N/A | ||
| P/OCF | 1.68 | ||
| P/B | 0.36 | ||
| P/tB | 0.55 | ||
| EV/EBITDA | 6.75 |
EPS(TTM)0.86
EY5.62%
EPS(NY)1.03
Fwd EY6.76%
FCF(TTM)-2.18
FCFYN/A
OCF(TTM)9.13
OCFY59.7%
SpS20.22
BVpS43.02
TBVpS27.97
PEG (NY)2
PEG (5Y)2.32
Graham Number28.85
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 Y8.91%
EPS Next 2Y10.77%
EPS Next 3Y9.26%
EPS Next 5Y8.01%
Revenue 1Y (TTM)-9.52%
Revenue growth 3Y0.21%
Revenue growth 5Y4.8%
Sales Q2Q%-11.25%
Revenue Next Year-6.7%
Revenue Next 2Y2.06%
Revenue Next 3Y4.14%
Revenue Next 5Y9.11%
EBIT growth 1Y-1.73%
EBIT growth 3Y9.49%
EBIT growth 5Y8.16%
EBIT Next Year54.73%
EBIT Next 3Y25.13%
EBIT Next 5Y18.83%
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 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 6 / 10.
Can you provide the PE and PB ratios for NNGF stock?
The Price/Earnings (PE) ratio for NATIONAL GRID PLC (NNGF.DE) is 17.79 and the Price/Book (PB) ratio is 0.36.
How financially healthy is NATIONAL GRID PLC?
The financial health rating of NATIONAL GRID PLC (NNGF.DE) is 2 / 10.