Comprehensive Stock Comparison
Compare National Grid plc (NGG) vs GE Vernova Inc. (GEV) 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 | GEV | 8.9% revenue growth vs NGG's -7.4% |
| Value | NGG | Lower P/E (23.1x vs 61.0x) |
| Quality / Margins | GEV | 12.8% net margin vs NGG's 12.7% |
| Stability / Safety | NGG | Beta 0.04 vs GEV's 1.59 |
| Dividends | NGG | 2.2% yield, vs GEV's 0.1% |
| Momentum (1Y) | GEV | +161.0% vs NGG's +55.9% |
| Efficiency (ROA) | GEV | 7.8% ROA vs NGG's 4.5%, ROIC 27.9% vs 4.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
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.
GE Vernova is a diversified energy technology company that provides power generation equipment and grid solutions across multiple energy sources. It makes money primarily through three segments: Power (gas, nuclear, and hydro turbines), Wind (onshore and offshore wind turbines), and Electrification (grid equipment and power conversion systems). The company's competitive advantage lies in its comprehensive energy portfolio—spanning traditional and renewable technologies—and its deep expertise in large-scale power infrastructure projects.
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
GEV leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). NGG leads in 2 (Valuation Metrics, Risk & Volatility). 1 tied.
Financial Metrics (TTM)
GEV and NGG operate at a comparable scale, with $38.1B and $36.8B in trailing revenue. Profitability is closely matched — net margins range from 12.8% (GEV) to 12.7% (NGG). On growth, GEV holds the edge at +3.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | NGGNational Grid plc | GEVGE Vernova Inc. |
|---|---|---|
| RevenueTrailing 12 months | $36.8B | $38.1B |
| EBITDAEarnings before interest/tax | $12.5B | $2.3B |
| Net IncomeAfter-tax profit | $4.7B | $4.9B |
| Free Cash FlowCash after capex | -$4.8B | $3.7B |
| Gross MarginGross profit ÷ Revenue | +100.0% | +19.9% |
| Operating MarginEBIT ÷ Revenue | +24.3% | +3.7% |
| Net MarginNet income ÷ Revenue | +12.7% | +12.8% |
| FCF MarginFCF ÷ Revenue | -13.1% | +9.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | -11.3% | +3.8% |
| EPS Growth (YoY)Latest quarter vs prior year | -7.1% | +6.7% |
Valuation Metrics
At 23.6x trailing earnings, NGG trades at a 52% valuation discount to GEV's 49.4x P/E. On an enterprise value basis, NGG's 16.3x EV/EBITDA is more attractive than GEV's 101.1x.
| Metric | NGGNational Grid plc | GEVGE Vernova Inc. |
|---|---|---|
| Market CapShares × price | $93.2B | $235.5B |
| Enterprise ValueMkt cap + debt − cash | $155.6B | $226.6B |
| Trailing P/EPrice ÷ TTM EPS | 23.63x | 49.38x |
| Forward P/EPrice ÷ next-FY EPS est. | 23.15x | 61.04x |
| PEG RatioP/E ÷ EPS growth rate | 2.28x | — |
| EV / EBITDAEnterprise value multiple | 16.27x | 101.12x |
| Price / SalesMarket cap ÷ Revenue | 3.77x | 6.19x |
| Price / BookPrice ÷ Book value/share | 1.81x | 19.61x |
| Price / FCFMarket cap ÷ FCF | — | 63.45x |
Profitability & Efficiency
GEV delivers a 39.7% return on equity — every $100 of shareholder capital generates $40 in annual profit, vs $13 for NGG. On the Piotroski fundamental quality scale (0–9), NGG scores 7/9 vs GEV's 6/9, reflecting strong financial health.
| Metric | NGGNational Grid plc | GEVGE Vernova Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +12.6% | +39.7% |
| ROA (TTM)Return on assets | +4.5% | +7.8% |
| ROICReturn on invested capital | +4.6% | +27.9% |
| ROCEReturn on capital employed | +5.4% | +6.6% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 6 |
| Debt / EquityFinancial leverage | 1.26x | — |
| Net DebtTotal debt minus cash | $46.4B | -$8.8B |
| Cash & Equiv.Liquid assets | $1.2B | $8.8B |
| Total DebtShort + long-term debt | $47.5B | $0 |
| Interest CoverageEBIT ÷ Interest expense | 2.73x | — |
Total Returns (with DRIP)
A $10,000 investment in GEV five years ago would be worth $66,674 today (with dividends reinvested), compared to $19,895 for NGG. Over the past 12 months, GEV leads with a +161.0% total return vs NGG's +55.9%. The 3-year compound annual growth rate (CAGR) favors GEV at 88.2% vs NGG's 19.5% — a key indicator of consistent wealth creation.
| Metric | NGGNational Grid plc | GEVGE Vernova Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +19.1% | +28.6% |
| 1-Year ReturnPast 12 months | +55.9% | +161.0% |
| 3-Year ReturnCumulative with dividends | +70.6% | +566.7% |
| 5-Year ReturnCumulative with dividends | +98.9% | +566.7% |
| 10-Year ReturnCumulative with dividends | +84.4% | +566.7% |
| CAGR (3Y)Annualised 3-year return | +19.5% | +88.2% |
Risk & Volatility
NGG is the less volatile stock with a 0.04 beta — it tends to amplify market swings less than GEV's 1.59 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | NGGNational Grid plc | GEVGE Vernova Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.04x | 1.59x |
| 52-Week HighHighest price in past year | $94.64 | $894.93 |
| 52-Week LowLowest price in past year | $59.35 | $252.25 |
| % of 52W HighCurrent price vs 52-week peak | +99.1% | +97.6% |
| RSI (14)Momentum oscillator 0–100 | 75.2 | 73.4 |
| Avg Volume (50D)Average daily shares traded | 695K | 2.5M |
Analyst Outlook
Wall Street rates NGG as "Buy" and GEV as "Buy". Consensus price targets imply -4.5% upside for GEV (target: $835) vs -8.8% for NGG (target: $86). For income investors, NGG offers the higher dividend yield at 2.23% vs GEV's 0.11%.
| Metric | NGGNational Grid plc | GEVGE Vernova Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $85.50 | $834.72 |
| # AnalystsCovering analysts | 20 | 27 |
| Dividend YieldAnnual dividend ÷ price | +2.2% | +0.1% |
| Dividend StreakConsecutive years of raises | 0 | 1 |
| Dividend / ShareAnnual DPS | $1.56 | $1.00 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | +1.4% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Apr 24 | Feb 26 | Change |
|---|---|---|---|
| National Grid plc (NGG) | 100 | 124.74 | +24.7% |
| GE Vernova Inc. (GEV) | 108.21 | 575.22 | +431.6% |
GE Vernova Inc. (GEV) returned +567% over 5 years vs National Grid plc (NGG)'s +99%. A $10,000 investment in GEV 5 years ago would be worth $66,674 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| National Grid plc (NGG) | $13.2B | $18.4B | +39.1% |
| GE Vernova Inc. (GEV) | $29.7B | $38.1B | +28.4% |
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 |
|---|---|---|---|
| National Grid plc (NGG) | 14.4% | 15.8% | +9.9% |
| GE Vernova Inc. (GEV) | -9.2% | 12.8% | +239.1% |
National Grid plc's net margin went from 14% (2016) to 16% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| National Grid plc (NGG) | 5.2 | 26.2 | +403.8% |
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 |
|---|---|---|---|
| National Grid plc (NGG) | 3.75 | 2.95 | -21.3% |
| GE Vernova Inc. (GEV) | -10.06 | 17.69 | +275.8% |
National Grid plc's EPS grew from $3.75 (2016) to $2.95 (2025) — a -3% CAGR.
Chart 6Free Cash Flow — 5 Years
National Grid plc generated $-2B FCF in 2025 (-211% vs 2021). GE Vernova Inc. generated $4B FCF in 2025 (+692% vs 2022).
NGG vs GEV: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is NGG or GEV 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 National Grid plc (NGG) a "Buy" — based on 20 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 — NGG or GEV?
On trailing P/E, National Grid plc (NGG) is the cheapest at 23.6x versus GE Vernova Inc. at 49.4x. On forward P/E, National Grid plc is actually cheaper at 23.1x.
03Which is the better long-term investment — NGG or GEV?
Over the past 5 years, GE Vernova Inc. (GEV) delivered a total return of +566.7%, compared to +98.9% for National Grid plc (NGG). A $10,000 investment in GEV five years ago would be worth approximately $67K today (assuming dividends reinvested). Over 10 years, the gap is even starker: GEV returned +566.7% 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 — NGG or GEV?
By beta (market sensitivity over 5 years), National Grid plc (NGG) is the lower-risk stock at 0.04β versus GE Vernova Inc.'s 1.59β — meaning GEV is approximately 3563% more volatile than NGG relative to the S&P 500.
05Which has better profit margins — NGG or GEV?
National Grid plc (NGG) is the more profitable company, earning 15.8% net margin versus 12.8% for GE Vernova Inc. — meaning it keeps 15.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NGG leads at 26.8% versus 3.6% for GEV. 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 NGG or GEV more undervalued right now?
On forward earnings alone, National Grid plc (NGG) trades at 23.1x forward P/E versus 61.0x for GE Vernova Inc. — 37.9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for GEV: -4.5% to $834.72.
07Which pays a better dividend — NGG or GEV?
All stocks in this comparison pay dividends. National Grid plc (NGG) offers the highest yield at 2.2%, versus 0.1% for GE Vernova Inc. (GEV).
08Is NGG or GEV 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). GE Vernova Inc. (GEV) carries a higher beta of 1.59 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (NGG: +84.4%, GEV: +566.7%), 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 NGG and GEV?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. NGG pays a dividend while GEV does not, making them suitable for different income and tax situations. 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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