National Grid plc (NGG) Earnings History
Annual and quarterly earnings data from 1993 to 2025
Loading earnings history...
EPS Growth Rates (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 77.4% | 26.8% | 15.8% |
| 2024 | 73.4% | 22.5% | 11.5% |
| 2023 | 60.2% | 22.5% | 36.0% |
| 2022 | 66.9% | 23.7% | 12.8% |
| 2021 | 100.0% | 17.6% | 12.0% |
Download Data
Export NGG earnings history in CSV or JSON format
Free sign-in required to download data
National Grid plc (NGG) Earnings Overview
As of February 28, 2026, National Grid plc (NGG) reported trailing twelve-month net income of $4.68B, reflecting +0.1% year-over-year growth. The company earned $4.73 per diluted share over the past four quarters, with a net profit margin of 0.2%.
Looking at the long-term picture, NGG's 5-year EPS compound annual growth rate (CAGR) stands at +10.4%, showing solid earnings momentum. The company achieved its highest annual net income of $7.80B in fiscal 2023.
National Grid plc maintains positive profitability with a gross margin of 0.8%, operating margin of 0.3%, and net margin of 0.2%. The company continues to generate positive earnings from operations. View revenue history →
Compared to industry peers including EXC ($2.82B net income, 0.1% margin), EIX ($4.70B net income, 0.2% margin), FE ($1.27B net income, 0.1% margin), NGG has outperformed on profitability metrics. Compare NGG vs EXC →
Peer Comparison
Earnings metrics vs industry competitors
Historical Data
33 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.90B | +26.7% | $4.93B | $2.95 | 15.8% | 26.8% |
| 2024 | $2.29B | -70.6% | $4.47B | $2.75 | 11.5% | 22.5% |
| 2023 | $7.80B | +231.4% | $4.88B | $10.60 | 36.0% | 22.5% |
| 2022 | $2.35B | +43.5% | $4.37B | $3.25 | 12.8% | 23.7% |
| 2021 | $1.64B | +29.7% | $2.40B | $2.30 | 12.0% | 17.6% |
| 2020 | $1.26B | -16.3% | $2.28B | $1.80 | 9.5% | 17.1% |
| 2019 | $1.51B | -57.4% | $3.56B | $2.22 | 10.1% | 23.8% |
| 2018 | $3.55B | +96.0% | $3.55B | $5.11 | 23.3% | 23.3% |
| 2017 | $1.81B | -4.6% | $3.74B | $11.25 | 12.0% | 24.9% |
| 2016 | $1.90B | +26.3% | $3.12B | $3.75 | 14.4% | 23.6% |
See NGG's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs NGG Undervalued?
See our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationCompare NGG vs GEV
See how NGG stacks up against sector leader GE Vernova Inc..
Start ComparisonFrequently Asked Questions
Is NGG growing earnings?
NGG EPS of $4.73 reflects slowing growth at +0.1%, below the 5-year CAGR of +10.4%. TTM net income is $4.7B. Expansion rate has moderated.
What are NGG's profit margins?
National Grid plc net margin is +0.2%, with operating margin at +0.3%. Below-average margins reflect competitive or cost pressures.
How consistent are NGG's earnings?
NGG earnings data spans 1993-2025. The current earnings trend is +0.1% YoY. Historical data enables comparison across business cycles.