Comprehensive Stock Comparison
Compare Alliant Energy Corporation (LNT) vs National Grid plc (NGG) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | LNT | -1.1% revenue growth vs NGG's -7.4% |
| Value | LNT | Lower P/E (21.2x vs 23.1x) |
| Quality / Margins | LNT | 19.1% net margin vs NGG's 12.7% |
| Stability / Safety | NGG | Beta 0.04 vs LNT's 0.21, lower leverage |
| Dividends | LNT | 2.6% yield, 21-year raise streak, vs NGG's 2.2% |
| Momentum (1Y) | NGG | +55.9% vs LNT's +15.3% |
| Efficiency (ROA) | NGG | 4.5% ROA vs LNT's 3.3%, ROIC 4.6% vs 4.0% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Alliant Energy is a regulated utility holding company that provides electricity and natural gas services to retail and wholesale customers in the Midwest. It generates revenue primarily from regulated utility operations — electric service (~70% of revenue) and natural gas service (~30%) — with rates approved by state commissions. Its key advantage is its regulated monopoly status in its service territories, providing stable cash flows through cost recovery mechanisms and a predictable return on invested capital.
National Grid is a regulated utility that operates electricity and gas transmission and distribution networks in the UK and northeastern United States. It earns revenue through regulated asset returns — collecting fees from customers for using its infrastructure — with its UK transmission business contributing roughly 40% of operating profit and its US operations about 35%. The company's primary moat comes from its natural monopoly position as an owner of critical energy infrastructure, protected by high regulatory barriers to entry and long-term, stable rate-of-return frameworks.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
NGG leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). LNT leads in 2 (Financial Metrics, Analyst Outlook). 1 tied.
Financial Metrics (TTM)
NGG is the larger business by revenue, generating $36.8B annually — 8.6x LNT's $4.3B. LNT is the more profitable business, keeping 19.1% of every revenue dollar as net income compared to NGG's 12.7%. On growth, LNT holds the edge at +11.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | LNTAlliant Energy Co… | NGGNational Grid plc |
|---|---|---|
| RevenueTrailing 12 months | $4.3B | $36.8B |
| EBITDAEarnings before interest/tax | $1.9B | $12.5B |
| Net IncomeAfter-tax profit | $818M | $4.7B |
| Free Cash FlowCash after capex | $339M | -$4.8B |
| Gross MarginGross profit ÷ Revenue | +41.1% | +100.0% |
| Operating MarginEBIT ÷ Revenue | +24.6% | +24.3% |
| Net MarginNet income ÷ Revenue | +19.1% | +12.7% |
| FCF MarginFCF ÷ Revenue | +7.9% | -13.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +11.9% | -11.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -5.2% | -7.1% |
Valuation Metrics
At 23.6x trailing earnings, NGG trades at a 12% valuation discount to LNT's 26.9x P/E. Adjusting for growth (PEG ratio), NGG offers better value at 2.28x vs LNT's 9.23x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | LNTAlliant Energy Co… | NGGNational Grid plc |
|---|---|---|
| Market CapShares × price | $18.6B | $93.2B |
| Enterprise ValueMkt cap + debt − cash | $28.9B | $155.6B |
| Trailing P/EPrice ÷ TTM EPS | 26.89x | 23.63x |
| Forward P/EPrice ÷ next-FY EPS est. | 21.16x | 23.15x |
| PEG RatioP/E ÷ EPS growth rate | 9.23x | 2.28x |
| EV / EBITDAEnterprise value multiple | 17.44x | 16.27x |
| Price / SalesMarket cap ÷ Revenue | 4.67x | 3.77x |
| Price / BookPrice ÷ Book value/share | 2.65x | 1.81x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
NGG delivers a 12.6% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $11 for LNT. NGG carries lower financial leverage with a 1.26x debt-to-equity ratio, signaling a more conservative balance sheet compared to LNT's 1.49x. On the Piotroski fundamental quality scale (0–9), NGG scores 7/9 vs LNT's 4/9, reflecting strong financial health.
| Metric | LNTAlliant Energy Co… | NGGNational Grid plc |
|---|---|---|
| ROE (TTM)Return on equity | +11.2% | +12.6% |
| ROA (TTM)Return on assets | +3.3% | +4.5% |
| ROICReturn on invested capital | +4.0% | +4.6% |
| ROCEReturn on capital employed | +4.6% | +5.4% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 7 |
| Debt / EquityFinancial leverage | 1.49x | 1.26x |
| Net DebtTotal debt minus cash | $10.3B | $46.4B |
| Cash & Equiv.Liquid assets | $81M | $1.2B |
| Total DebtShort + long-term debt | $10.4B | $47.5B |
| Interest CoverageEBIT ÷ Interest expense | 1.97x | 2.73x |
Total Returns (with DRIP)
A $10,000 investment in NGG five years ago would be worth $19,895 today (with dividends reinvested), compared to $17,318 for LNT. Over the past 12 months, NGG leads with a +55.9% total return vs LNT's +15.3%. The 3-year compound annual growth rate (CAGR) favors NGG at 19.5% vs LNT's 15.1% — a key indicator of consistent wealth creation.
| Metric | LNTAlliant Energy Co… | NGGNational Grid plc |
|---|---|---|
| YTD ReturnYear-to-date | +11.1% | +19.1% |
| 1-Year ReturnPast 12 months | +15.3% | +55.9% |
| 3-Year ReturnCumulative with dividends | +52.5% | +70.6% |
| 5-Year ReturnCumulative with dividends | +73.2% | +98.9% |
| 10-Year ReturnCumulative with dividends | +160.1% | +84.4% |
| CAGR (3Y)Annualised 3-year return | +15.1% | +19.5% |
Risk & Volatility
NGG is the less volatile stock with a 0.04 beta — it tends to amplify market swings less than LNT's 0.21 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | LNTAlliant Energy Co… | NGGNational Grid plc |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.21x | 0.04x |
| 52-Week HighHighest price in past year | $72.38 | $94.64 |
| 52-Week LowLowest price in past year | $57.09 | $59.35 |
| % of 52W HighCurrent price vs 52-week peak | +99.9% | +99.1% |
| RSI (14)Momentum oscillator 0–100 | 66.8 | 75.2 |
| Avg Volume (50D)Average daily shares traded | 2.0M | 695K |
Analyst Outlook
Wall Street rates LNT as "Buy" and NGG as "Buy". Consensus price targets imply 3.1% upside for LNT (target: $75) vs -8.8% for NGG (target: $86). For income investors, LNT offers the higher dividend yield at 2.65% vs NGG's 2.23%.
| Metric | LNTAlliant Energy Co… | NGGNational Grid plc |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $74.57 | $85.50 |
| # AnalystsCovering analysts | 23 | 20 |
| Dividend YieldAnnual dividend ÷ price | +2.6% | +2.2% |
| Dividend StreakConsecutive years of raises | 21 | 0 |
| Dividend / ShareAnnual DPS | $1.92 | $1.56 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Alliant Energy Corp… (LNT) | 100 | 117.61 | +17.6% |
| National Grid plc (NGG) | 100 | 130.71 | +30.7% |
National Grid plc (NGG) returned +99% over 5 years vs Alliant Energy Corp… (LNT)'s +73%. A $10,000 investment in NGG 5 years ago would be worth $19,895 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Alliant Energy Corp… (LNT) | $3.3B | $4.0B | +19.9% |
| National Grid plc (NGG) | $13.2B | $18.4B | +39.1% |
National Grid plc's revenue grew from $13.2B (2016) to $18.4B (2025) — a 3.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Alliant Energy Corp… (LNT) | 11.5% | 17.3% | +50.8% |
| National Grid plc (NGG) | 14.4% | 15.8% | +9.9% |
National Grid plc's net margin went from 14% (2016) to 16% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Alliant Energy Corp… (LNT) | 21.4 | 22 | +2.8% |
| National Grid plc (NGG) | 5.2 | 26.2 | +403.8% |
Alliant Energy Corporation has traded in a 19x–24x P/E range over 8 years; current trailing P/E is ~27x. National Grid plc has traded in a 5x–33x P/E range over 9 years; current trailing P/E is ~24x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Alliant Energy Corp… (LNT) | 1.64 | 2.69 | +64.0% |
| National Grid plc (NGG) | 3.75 | 2.95 | -21.3% |
National Grid plc's EPS grew from $3.75 (2016) to $2.95 (2025) — a -3% CAGR.
Chart 6Free Cash Flow — 5 Years
Alliant Energy Corporation generated $-1B FCF in 2024 (-84% vs 2021). National Grid plc generated $-2B FCF in 2025 (-211% vs 2021).
LNT vs NGG: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is LNT or NGG a better buy right now?
National Grid plc (NGG) offers the better valuation at 23.6x trailing P/E (23.1x forward), making it the more compelling value choice. Analysts rate Alliant Energy Corporation (LNT) a "Buy" — based on 23 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — LNT or NGG?
On trailing P/E, National Grid plc (NGG) is the cheapest at 23.6x versus Alliant Energy Corporation at 26.9x. On forward P/E, Alliant Energy Corporation is actually cheaper at 21.2x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: National Grid plc wins at 2.23x versus Alliant Energy Corporation's 7.26x.
03Which is the better long-term investment — LNT or NGG?
Over the past 5 years, National Grid plc (NGG) delivered a total return of +98.9%, compared to +73.2% for Alliant Energy Corporation (LNT). A $10,000 investment in NGG five years ago would be worth approximately $20K today (assuming dividends reinvested). Over 10 years, the gap is even starker: LNT returned +160.1% versus NGG's +84.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — LNT or NGG?
By beta (market sensitivity over 5 years), National Grid plc (NGG) is the lower-risk stock at 0.04β versus Alliant Energy Corporation's 0.21β — meaning LNT is approximately 386% more volatile than NGG relative to the S&P 500. On balance sheet safety, National Grid plc (NGG) carries a lower debt/equity ratio of 126% versus 149% for Alliant Energy Corporation — giving it more financial flexibility in a downturn.
05Which has better profit margins — LNT or NGG?
Alliant Energy Corporation (LNT) is the more profitable company, earning 17.3% net margin versus 15.8% for National Grid plc — meaning it keeps 17.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NGG leads at 26.8% versus 22.3% for LNT. At the gross margin level — before operating expenses — NGG leads at 77.4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is LNT or NGG more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, National Grid plc (NGG) is the more undervalued stock at a PEG of 2.23x versus Alliant Energy Corporation's 7.26x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Alliant Energy Corporation (LNT) trades at 21.2x forward P/E versus 23.1x for National Grid plc — 2.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for LNT: 3.1% to $74.57.
07Which pays a better dividend — LNT or NGG?
All stocks in this comparison pay dividends. Alliant Energy Corporation (LNT) offers the highest yield at 2.6%, versus 2.2% for National Grid plc (NGG).
08Is LNT or NGG better for a retirement portfolio?
For long-horizon retirement investors, National Grid plc (NGG) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.04), 2.2% yield). Both have compounded well over 10 years (NGG: +84.4%, LNT: +160.1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between LNT and NGG?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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