National Grid PLC Capital Reinvestment Ratio
National Grid PLC capital reinvestment ratio. National Grid PLC (NG) has a Capital Reinvestment Ratio of 1.63x as of March 2026, meaning it reinvests 2% of its operating cash flow (GBX3.41 Billion) in capital expenditures (GBX5.54 Billion). See National Grid PLC free cash flow efficiency to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of National Grid PLC (1993–2026)
Capital reinvestment ratio of National Grid PLC from 1993 to 2026. This chart tracks National Grid PLC's Capital Reinvestment Ratio across 32 annual periods. See National Grid PLC (NG) flexibility index to measure the company's free cash flow as a share of total liabilities.
National Grid PLC Capital Reinvestment Ratio by Year (1993–2026)
National Grid PLC capital reinvestment ratio by year from 1993 to 2026. For the full cash flow conversion analysis, see National Grid PLC operating cash flow efficiency.
| Year | Reinvestment Ratio | Operating CF (GBX) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2026 | 1.60x | GBX6.23 Billion | GBX9.99 Billion | ▲ +24.3% |
| 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 | — |