National Grid PLC (NG) — Capital Reinvestment Ratio
Latest as of September 2025:
1.57x
National Grid PLC (NG) has a Capital Reinvestment Ratio of 1.57x as of September 2025, meaning it reinvests 2% of its operating cash flow (GBX2.82 Billion) in capital expenditures (GBX4.44 Billion). See NG cash flow after capex ratio to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
1.57x
Capex / Operating Cash Flow
Operating Cash Flow
GBX2.82 Billion
GBX
Capital Expenditures
GBX4.44 Billion
GBX
Data as of
Sep 2025
Most recent filing
National Grid PLC Capital Reinvestment Ratio (1993–2025)
This chart tracks National Grid PLC's Capital Reinvestment Ratio across 31 annual periods.
Annual Capital Reinvestment Ratio for National Grid PLC (1993–2025)
Year-by-year Capital Reinvestment Ratio for National Grid PLC from 1993 to 2025. For live market cap and broader valuation context, see NG stock market capitalisation.
| Year | Reinvestment Ratio | Operating CF (GBX) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 1.29x | GBX6.81 Billion | GBX8.78 Billion | ▲ +29.6% |
| 2024 | 0.99x | GBX6.94 Billion | GBX6.90 Billion | ▼ -0.4% |
| 2023 | 1.00x | GBX6.90 Billion | GBX6.89 Billion | ▲ +13.0% |
| 2022 | 0.88x | GBX6.27 Billion | GBX5.54 Billion | ▼ -17.6% |
| 2021 | 1.07x | GBX4.46 Billion | GBX4.79 Billion | ▲ +1.2% |
| 2020 | 1.06x | GBX4.62 Billion | GBX4.90 Billion | ▲ +16.3% |
| 2019 | 0.91x | GBX4.32 Billion | GBX3.94 Billion | ▲ +5.1% |
| 2018 | 0.87x | GBX4.50 Billion | GBX3.91 Billion | ▲ +29.1% |
| 2017 | 0.67x | GBX5.23 Billion | GBX3.52 Billion | ▼ -0.4% |
| 2016 | 0.68x | GBX5.37 Billion | GBX3.63 Billion | ▲ +3.1% |
| 2015 | 0.66x | GBX5.01 Billion | GBX3.28 Billion | ▼ -15.6% |
| 2014 | 0.78x | GBX4.02 Billion | GBX3.12 Billion | ▼ -14.0% |
| 2013 | 0.90x | GBX3.75 Billion | GBX3.39 Billion | ▲ +14.1% |
| 2012 | 0.79x | GBX4.23 Billion | GBX3.35 Billion | ▲ +22.8% |
| 2011 | 0.65x | GBX4.86 Billion | GBX3.13 Billion | ▼ -6.4% |
| 2010 | 0.69x | GBX4.52 Billion | GBX3.11 Billion | ▼ -26.4% |
| 2009 | 0.94x | GBX3.40 Billion | GBX3.19 Billion | ▲ +73.0% |
| 2008 | 0.54x | GBX5.32 Billion | GBX2.88 Billion | ▼ -47.7% |
| 2007 | 1.03x | GBX2.15 Billion | GBX2.22 Billion | ▲ +40.2% |
| 2006 | 0.74x | GBX2.27 Billion | GBX1.67 Billion | ▲ +24.9% |
| 2005 | 0.59x | GBX2.55 Billion | GBX1.51 Billion | ▼ -40.0% |
| 2004 | 0.98x | GBX1.42 Billion | GBX1.40 Billion | ▲ +18.3% |
| 2003 | 0.83x | GBX1.82 Billion | GBX1.52 Billion | ▼ -12.6% |
| 2002 | 0.95x | GBX554.40 Million | GBX527.80 Million | ▼ -83.6% |
| 2001 | 5.80x | GBX83.40 Million | GBX483.40 Million | ▲ +205.3% |
| 2000 | 1.90x | GBX149.90 Million | GBX284.60 Million | ▼ -9.6% |
| 1999 | 2.10x | GBX151.30 Million | GBX317.80 Million | ▲ +412.0% |
| 1997 | 0.41x | GBX694.70 Million | GBX285.00 Million | ▼ -44.9% |
| 1995 | 0.74x | GBX506.50 Million | GBX377.30 Million | ▼ -1.4% |
| 1994 | 0.76x | GBX455.10 Million | GBX343.70 Million | ▼ -19.3% |
| 1993 | 0.94x | GBX408.40 Million | GBX382.30 Million | — |
Capital Reinvestment Ratio = ABS(Capital Expenditures) / Operating Cash Flow