National Grid PLC (NG) — Capital Reinvestment Ratio
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 net asset quality index of National Grid PLC to measure how much of total assets are equity-financed.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
National Grid PLC Capital Reinvestment Ratio (1993–2025)
This chart tracks National Grid PLC's Capital Reinvestment Ratio across 31 annual periods. Check National Grid PLC investment reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
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 | — |