National Grid Transco (NNGD) Stock Price & Analysis
NNGD Stock Chart & Stats
- Day’s Range
- EUR 72.50 - EUR 72.50
- 52-Week Range
- EUR 61.50 - EUR 79.50
- Previous Close
- EUR 74.50
- Volume
- 0
- Average Volume (3M)
- 0
- Market Cap
- EUR 75.39B
- Enterprise Value
- EUR 142.16B
- Total Cash (Recent Filing)
- EUR 2.83B
- Total Debt (Recent Filing)
- EUR 46.76B
- Price to Earnings (P/E)
- 19.0
- Beta
- 0.19
- Next Earnings
- Nov 05, 2026 (Est.)
- EPS Estimate
- 2.04
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- 3.78%
Bulls Say, Bears Say
Bulls Say
Regulated Asset Growth
The large, multi-year investment plan should expand the regulated asset base on which National Grid earns approved returns. Strong UK and US asset-growth targets provide durable infrastructure demand, revenue visibility, and a pathway for earnings growth beyond short-term operating fluctuations.
Profitability And Operating Cash
Solid underlying profitability and improving operating cash generation demonstrate that the regulated network portfolio is producing meaningful recurring earnings. These cash earnings support investment and dividends, while the stated EPS growth outlook indicates continued operating momentum over the next several years.
Regulatory Investment Visibility
Regulatory coverage and secured delivery mechanisms reduce uncertainty around a substantial portion of the investment pipeline. This visibility improves confidence that projects can enter the earning asset base, while contracted ASTI supply supports execution of strategically important network expansion.
Bears Say
Meaningful Leverage
Rising debt alongside the investment ramp will increase financing demands and reduce balance-sheet flexibility. Higher gearing can make National Grid more sensitive to interest costs, refinancing conditions, and regulatory outcomes, potentially constraining dividends or discretionary investment if plans encounter pressure.
Structurally Negative Free Cash Flow
Persistent negative free cash flow shows that capital requirements exceed internally generated cash after investment and other outflows. Continued reliance on debt or equity funding could amplify leverage and financing risk, particularly while the company pursues its largest-ever infrastructure program.
Input-cost And Delivery Risk
Inflation in commodities and network inputs can raise the cost of delivering the investment pipeline and pressure returns where recovery mechanisms are incomplete or delayed. Supply disruption also complicates scheduling, so cost overruns or slower delivery could weaken the benefits of planned asset growth.
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National Grid Transco Stock Smart Score
Company Description
National Grid Transco
National Grid plc engages in the transmission and distribution of electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission networks in England and Wales. The UK Electricity Distribution segment offers electricity distribution services in east and west Midlands, Southwest of England, and South Wales. The New England segment provides electricity and gas supply and distribution, and high-voltage electricity transmission services in New England. The New York segment offers electricity and gas distribution, and electricity transmission services in New York. The National Grid Ventures segment provides transmission services through electricity interconnectors and LNG importation at the Isle of Grain. The Other segment engages in the leasing and sale of commercial property, as well as insurance activities in the United Kingdom. The company was founded in 1990 and is headquartered in London, the United Kingdom.
- Sector
- Utilities
- Industry
- Regulated Electric
- CEO
- Zoë Yujnovich
- Employees
- 33,026
- Website
- www.nationalgrid.com
- Address
- 1-3 Strand, London, GL, WC2N 5EH, GB
National Grid Transco (NNGD) Earnings & Revenues
NNGD Earnings Call
Earnings Call SentimentPositive
The call outlines a strong growth and delivery story: materially higher capital investment (at least GBP 70bn), clear multi-year EPS and RAV targets, strong operating performance and technology-led productivity initiatives. Management backed this with specific execution actions (capital control tower, standardized designs, AI pilots) and measurable early wins (reliability, customer satisfaction, productivity and contracted supply). Key risks remain: higher net debt and leverage as investment ramps, NGV profit and capex contraction, storm/regulatory headwinds in parts of the U.S., commodity and supply-chain inflation, and some regulatory uncertainty (ED3) that may limit the pace at which efficiency gains convert into shareholder returns. On balance, the positive operational progress, visibility of regulatory coverage, and credible execution plans outweigh the risks, though execution and regulatory outcomes will be critical to realize the stated financial targets.
View all DE:NNGD earnings summariesNNGD Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 13 | 5 | 4 |
| Technical Analysis | 3 | 5 | 2 |
| Moving Averages | 10 | 0 | 2 |