National Grid plc (NGG) Financial Statements

Income statement

Metric	TTM	2026	2025	2024	2023
Revenue
Total Revenue	35.7B	18.0B	18.4B	19.9B	21.7B
Cost of Revenue	25.2B	12.1B	4.2B	5.3B	8.6B
Gross Profit	10.5B	5.9B	14.2B	14.6B	13.0B
Operating Expenses
R&D Expense	—	—	42.4M	32.0M	22.4M
SG&A Expense	—	—	—	—	—
General & Admin Expense	—	—	—	—	—
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	—	—	9.3B	10.1B	8.2B
Total Operating Expenses	—	—	9.3B	10.1B	8.2B
Cost and Expenses	25.2B	12.1B	13.4B	15.4B	16.8B
Operating Income (EBIT)	10.5B	5.9B	4.9B	4.5B	4.9B
Non-Operating
Interest Income	595.6M	267.3M	336.2M	140.1M	77.9M
Interest Expense	2.7B	1.3B	1.4B	1.3B	1.4B
Net Interest Income	(2.1B)	(1.1B)	(1.0B)	(1.2B)	(1.3B)
Other Non-Op Income/Expense	(2.7B)	(1.6B)	(1.3B)	(1.4B)	(1.3B)
Non-Operating Income (excl Interest)	127.8M	301.8M	(526.0M)	(296.0M)	(391.0M)
EBT (Pre-Tax Income)	7.8B	4.3B	3.6B	3.0B	3.6B
Income Tax Expense	1.8B	954.3M	821.0M	831.0M	876.0M
Bottom Line
Net Income	6.1B	3.3B	2.9B	2.3B	7.8B
Earnings from Cont. Ops	6.0B	3.3B	2.8B	2.2B	2.7B
Earnings from Discont. Ops	72.7M	—	76.0M	74.0M	5.1B
Bottom Line Net Income	6.1B	3.3B	2.9B	2.3B	7.8B
Per Share
Basic EPS	$6.24	$3.35	$3.04	$2.85	$9.55
Diluted EPS	$6.24	$3.30	$3.03	$2.84	$9.50
Revenue Per Share	$35.87	$18.17	$19.52	$24.71	$27.20
Shares
Basic Shares Outstanding	994.7M	989.2M	941.4M	803.4M	796.2M
Diluted Shares Outstanding	995.2M	994.2M	945.8M	807.1M	799.9M
Profitability Metrics
EBITDA	14.7B	7.9B	7.6B	6.8B	7.3B
D&A	4.4B	2.3B	2.2B	2.1B	2.0B
EBIT	10.3B	5.6B	5.5B	4.8B	5.3B

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Mar 1, 2026