National Grid plc (NNGD) — Capital Reinvestment Ratio
National Grid plc (NNGD) has a Capital Reinvestment Ratio of 1.29x as of September 2022, meaning it reinvests 1% of its operating cash flow (€1.26 Billion) in capital expenditures (€1.63 Billion). Check NNGD intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
National Grid plc Capital Reinvestment Ratio (2017–2025)
This chart tracks National Grid plc's Capital Reinvestment Ratio across 9 annual periods. For the full cash flow conversion analysis, see National Grid plc (NNGD) cash flow conversion.
Annual Capital Reinvestment Ratio for National Grid plc (2017–2025)
Year-by-year Capital Reinvestment Ratio for National Grid plc from 2017 to 2025. See NNGD cash flow after capex ratio to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (EUR) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 1.37x | €6.81 Billion | €9.31 Billion | ▲ +27.3% |
| 2024 | 1.07x | €6.94 Billion | €7.45 Billion | ▲ +7.5% |
| 2023 | 1.00x | €6.90 Billion | €6.89 Billion | ▲ +22.9% |
| 2022 | 0.81x | €6.27 Billion | €5.10 Billion | ▼ -13.9% |
| 2021 | 0.94x | €4.46 Billion | €4.21 Billion | ▲ +1.5% |
| 2020 | 0.93x | €4.62 Billion | €4.29 Billion | ▲ +10.4% |
| 2019 | 0.84x | €4.32 Billion | €3.63 Billion | ▲ +1.4% |
| 2018 | 0.83x | €4.50 Billion | €3.74 Billion | ▲ +31.7% |
| 2017 | 0.63x | €5.23 Billion | €3.30 Billion | — |