National Grid PLC (NG) — Cash Flow Reinvestment Rate
National Grid PLC (NG) has a Cash Flow Reinvestment Rate of 1.63x as of March 2026, reinvesting GBX5.54 Billion (capex GBX5.54 Billion ) from operating cash flow of GBX3.41 Billion. See cash generation quality of National Grid PLC to measure how efficiently the company converts operating cash flow to free cash.
Reinvestment Rate
Total Reinvested
Operating Cash Flow
Capital Expenditures
National Grid PLC Cash Flow Reinvestment Rate (1993–2026)
Historical reinvestment intensity for National Grid PLC across 32 annual periods. For the full cash flow conversion analysis, see cash flow conversion of National Grid PLC.
Annual Cash Flow Reinvestment Rate for National Grid PLC (1993–2026)
Year-by-year capital reinvestment analysis for National Grid PLC. See NG financial flexibility score to measure the company's free cash flow as a share of total liabilities.
| Year | Reinvestment Rate | Total Reinvested (GBX) | Operating CF | Capex | YoY Change |
|---|---|---|---|---|---|
| 2026 | 2.13x | GBX13.29 Billion | GBX6.23 Billion | GBX9.99 Billion | ▼ -25.0% |
| 2025 | 2.84x | GBX19.35 Billion | GBX6.81 Billion | GBX8.78 Billion | ▲ +36.9% |
| 2024 | 2.08x | GBX14.40 Billion | GBX6.94 Billion | GBX6.90 Billion | ▲ +100.8% |
| 2023 | 1.03x | GBX7.13 Billion | GBX6.90 Billion | GBX6.89 Billion | ▲ +5.3% |
| 2022 | 0.98x | GBX6.16 Billion | GBX6.27 Billion | GBX5.54 Billion | ▼ -17.9% |
| 2021 | 1.20x | GBX5.34 Billion | GBX4.46 Billion | GBX4.79 Billion | ▲ +10.1% |
| 2020 | 1.09x | GBX5.02 Billion | GBX4.62 Billion | GBX4.90 Billion | ▲ +3.2% |
| 2019 | 1.05x | GBX4.55 Billion | GBX4.32 Billion | GBX3.94 Billion | ▼ -51.9% |
| 2018 | 2.19x | GBX9.87 Billion | GBX4.50 Billion | GBX3.91 Billion | ▲ +24.6% |
| 2017 | 1.76x | GBX9.20 Billion | GBX5.23 Billion | GBX3.52 Billion | ▲ +128.3% |
| 2016 | 0.77x | GBX4.13 Billion | GBX5.37 Billion | GBX3.63 Billion | ▼ -13.1% |
| 2015 | 0.89x | GBX4.44 Billion | GBX5.01 Billion | GBX3.28 Billion | ▼ -26.4% |
| 2014 | 1.20x | GBX4.84 Billion | GBX4.02 Billion | GBX3.12 Billion | ▲ +33.2% |
| 2013 | 0.90x | GBX3.39 Billion | GBX3.75 Billion | GBX3.39 Billion | ▲ +14.1% |
| 2012 | 0.79x | GBX3.35 Billion | GBX4.23 Billion | GBX3.35 Billion | ▲ +22.8% |
| 2011 | 0.65x | GBX3.13 Billion | GBX4.86 Billion | GBX3.13 Billion | ▼ -6.4% |
| 2010 | 0.69x | GBX3.11 Billion | GBX4.52 Billion | GBX3.11 Billion | ▼ -26.4% |
| 2009 | 0.94x | GBX3.19 Billion | GBX3.40 Billion | GBX3.19 Billion | ▲ +73.0% |
| 2008 | 0.54x | GBX2.88 Billion | GBX5.32 Billion | GBX2.88 Billion | ▼ -47.7% |
| 2007 | 1.03x | GBX2.22 Billion | GBX2.15 Billion | GBX2.22 Billion | ▲ +40.2% |
| 2006 | 0.74x | GBX1.67 Billion | GBX2.27 Billion | GBX1.67 Billion | ▲ +24.9% |
| 2005 | 0.59x | GBX1.51 Billion | GBX2.55 Billion | GBX1.51 Billion | ▼ -40.0% |
| 2004 | 0.98x | GBX1.40 Billion | GBX1.42 Billion | GBX1.40 Billion | ▲ +18.3% |
| 2003 | 0.83x | GBX1.52 Billion | GBX1.82 Billion | GBX1.52 Billion | ▼ -12.6% |
| 2002 | 0.95x | GBX527.80 Million | GBX554.40 Million | GBX527.80 Million | ▼ -83.6% |
| 2001 | 5.80x | GBX483.40 Million | GBX83.40 Million | GBX483.40 Million | ▲ +205.3% |
| 2000 | 1.90x | GBX284.60 Million | GBX149.90 Million | GBX284.60 Million | ▼ -9.6% |
| 1999 | 2.10x | GBX317.80 Million | GBX151.30 Million | GBX317.80 Million | ▲ +412.0% |
| 1997 | 0.41x | GBX285.00 Million | GBX694.70 Million | GBX285.00 Million | ▼ -44.9% |
| 1995 | 0.74x | GBX377.30 Million | GBX506.50 Million | GBX377.30 Million | ▼ -1.4% |
| 1994 | 0.76x | GBX343.70 Million | GBX455.10 Million | GBX343.70 Million | ▼ -19.3% |
| 1993 | 0.94x | GBX382.30 Million | GBX408.40 Million | GBX382.30 Million | — |