NATIONAL GRID PLCNGG

Market cap

P/E ratio

	Mar 31, 2018	Mar 31, 2019	Mar 31, 2020	Mar 31, 2021	Mar 31, 2022	Mar 31, 2023	Mar 31, 2024	Mar 31, 2025
Goodwill	5,444	5,869	6,233	4,588	9,532	9,847	9,729	9,532
Other intangible assets	899	1,084	1,295	1,443	3,272	3,604	3,431	3,564
Property, plant and equipment	-	-	-	-	-	-	68,907	74,091
Other non-current assets	115	264	354	293	303	567	848	959
Pension assets	1,409	1,567	1,849	1,747	3,885	2,645	2,407	2,489
Financial and other investments	899	667	543	755	830	859	880	798
Investments in joint ventures and associates	2,168	608	995	867	1,238	1,300	1,420	608
Derivative financial assets	1,319	1,045	1,249	542	305	276	324	369
Total non-current assets	52,106	55,017	61,288	57,278	76,897	83,531	87,946	92,410
Inventories	341	370	549	439	511	876	828	557
Trade and other receivables	2,798	3,153	2,986	2,919	3,715	3,883	3,415	4,092
Current tax assets	114	126	102	67	106	43	11	11
Other current financial assets	2,694	1,981	1,998	2,342	3,145	2,605	3,699	5,753
Derivative financial assets	405	108	93	457	282	153	44	113
Cash and cash equivalents	329	252	73	157	204	163	559	1,178
Assets held for sale	-	-	-	3,557	10,000	1,443	1,823	2,628
Total current assets	6,681	7,946	5,801	9,938	17,963	9,166	10,379	14,332
Total assets	58,787	62,963	67,089	67,216	94,860	92,697	98,325	106,742
Borrowings	4,447	4,472	4,072	3,737	12,121	2,955	4,859	4,662
Derivative financial liabilities	401	350	380	145	144	222	335	381
Trade and other payables	3,453	3,769	3,602	3,517	4,915	5,068	4,076	4,472
Contract liabilities	-	61	76	66	130	252	127	96
Current tax liabilities	123	161	86	75	32	236	220	219
Provisions	273	316	348	260	240	288	298	357
Liabilities held for sale	-	-	-	1,568	7,188	109	1,474	434
Total current liabilities	8,697	9,129	8,564	9,368	24,770	9,130	11,389	10,621
Borrowings	22,178	24,258	26,722	27,483	33,344	40,030	42,213	42,877
Derivative financial liabilities	660	833	954	754	869	1,071	909	821
Other non-current liabilities	1,317	808	891	843	805	921	880	876
Contract liabilities	-	933	1,082	1,094	1,342	1,754	2,119	2,418
Deferred tax liabilities	3,636	3,965	4,184	4,815	6,765	7,181	7,519	8,038
Pensions and other post-retirement benefit obligations	1,672	1,785	2,802	1,032	810	694	593	573
Provisions	1,779	1,883	2,306	1,967	2,299	2,354	2,811	2,692
Total non-current liabilities	31,242	34,465	38,941	37,988	46,234	54,005	57,044	58,295
Total liabilities	39,939	43,594	47,505	47,356	71,004	63,135	68,433	68,916
Net assets	18,848	19,369	19,584	19,860	23,856	29,562	29,892	37,826
Share capital	452	458	470	474	485	488	493	638
Share premium	1,321	1,314	1,301	1,296	1,300	1,302	1,298	1,292
Retained earnings	21,599	21,814	21,710	23,163	26,611	31,608	32,066	40,106
Other reserves	-4,540	-4,237	-3,919	-5,094	-4,563	-3,860	-3,990	-4,233
Total shareholders’ equity	18,832	19,349	19,562	19,839	23,833	29,538	29,867	37,803
Non-controlling interests	16	20	22	21	23	24	25	23
Total equity	18,848	19,369	19,584	19,860	23,856	29,562	29,892	37,826