National Grid PLC Financial Flexibility Index
National Grid PLC financial flexibility index. National Grid PLC (NG) has a Financial Flexibility Index of 0.13x as of March 2026. Free cash flow of GBX8.96 Billion (operating CF GBX3.41 Billion minus capex GBX5.54 Billion) represents 0% of total liabilities (GBX68.95 Billion). Explore National Grid PLC capital spending ratio to see what proportion of operating cash flow is directed to capital expenditures.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Financial Flexibility Index of National Grid PLC (1993–2026)
Financial flexibility index of National Grid PLC from 1993 to 2026. Historical Financial Flexibility Index trend for National Grid PLC across 34 annual periods. Check National Grid PLC cash flow reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
National Grid PLC Financial Flexibility Index by Year (1993–2026)
National Grid PLC financial flexibility index by year from 1993 to 2026. Year-by-year free cash flow to debt coverage for National Grid PLC. For the full cash flow conversion analysis, see NG operating cash flow.
| Year | Flexibility Index | Free Cash Flow (GBX) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2026 | 0.24x | GBX16.22 Billion | GBX6.23 Billion | GBX68.95 Billion | ▲ +4.0% |
| 2025 | 0.23x | GBX15.59 Billion | GBX6.81 Billion | GBX68.92 Billion | ▲ +11.8% |
| 2024 | 0.20x | GBX13.84 Billion | GBX6.94 Billion | GBX68.43 Billion | ▼ -7.4% |
| 2023 | 0.22x | GBX13.79 Billion | GBX6.90 Billion | GBX63.13 Billion | ▲ +31.3% |
| 2022 | 0.17x | GBX11.82 Billion | GBX6.27 Billion | GBX71.00 Billion | ▼ -14.8% |
| 2021 | 0.20x | GBX9.25 Billion | GBX4.46 Billion | GBX47.36 Billion | ▼ -2.5% |
| 2020 | 0.20x | GBX9.52 Billion | GBX4.62 Billion | GBX47.51 Billion | ▲ +5.8% |
| 2019 | 0.19x | GBX8.26 Billion | GBX4.32 Billion | GBX43.59 Billion | ▼ -10.1% |
| 2018 | 0.21x | GBX8.41 Billion | GBX4.50 Billion | GBX39.94 Billion | ▲ +9.5% |
| 2017 | 0.19x | GBX8.75 Billion | GBX5.23 Billion | GBX45.46 Billion | ▼ -2.9% |
| 2016 | 0.20x | GBX9.00 Billion | GBX5.37 Billion | GBX45.37 Billion | ▲ +3.1% |
| 2015 | 0.19x | GBX8.29 Billion | GBX5.01 Billion | GBX43.12 Billion | ▲ +8.9% |
| 2014 | 0.18x | GBX7.14 Billion | GBX4.02 Billion | GBX40.47 Billion | ▲ +9.9% |
| 2013 | 0.16x | GBX7.14 Billion | GBX3.75 Billion | GBX44.47 Billion | ▼ -19.3% |
| 2012 | 0.20x | GBX7.58 Billion | GBX4.23 Billion | GBX38.09 Billion | ▼ -7.1% |
| 2011 | 0.21x | GBX7.99 Billion | GBX4.86 Billion | GBX37.33 Billion | ▲ +10.4% |
| 2010 | 0.19x | GBX7.63 Billion | GBX4.52 Billion | GBX39.34 Billion | ▲ +19.2% |
| 2009 | 0.16x | GBX6.59 Billion | GBX3.40 Billion | GBX40.48 Billion | ▼ -35.7% |
| 2008 | 0.25x | GBX8.19 Billion | GBX5.32 Billion | GBX32.40 Billion | ▲ +40.6% |
| 2007 | 0.18x | GBX4.36 Billion | GBX2.15 Billion | GBX24.25 Billion | ▲ +2.4% |
| 2006 | 0.18x | GBX3.94 Billion | GBX2.27 Billion | GBX22.43 Billion | ▲ +10.1% |
| 2005 | 0.16x | GBX4.06 Billion | GBX2.55 Billion | GBX25.44 Billion | ▲ +25.0% |
| 2004 | 0.13x | GBX2.82 Billion | GBX1.42 Billion | GBX22.13 Billion | ▼ -9.5% |
| 2003 | 0.14x | GBX3.34 Billion | GBX1.82 Billion | GBX23.71 Billion | ▲ +84.0% |
| 2002 | 0.08x | GBX1.08 Billion | GBX554.40 Million | GBX14.12 Billion | ▼ -12.6% |
| 2001 | 0.09x | GBX566.80 Million | GBX83.40 Million | GBX6.46 Billion | ▲ +17.5% |
| 2000 | 0.07x | GBX434.50 Million | GBX149.90 Million | GBX5.82 Billion | ▼ -50.0% |
| 1999 | 0.15x | GBX469.10 Million | GBX151.30 Million | GBX3.14 Billion | ▲ +271.4% |
| 1998 | -0.09x | GBX-217.20 Million | GBX-508.60 Million | GBX2.49 Billion | ▼ -117.4% |
| 1997 | 0.50x | GBX979.70 Million | GBX694.70 Million | GBX1.96 Billion | ▲ +257.0% |
| 1996 | -0.32x | GBX-667.00 Million | GBX-952.30 Million | GBX2.09 Billion | ▼ -143.9% |
| 1995 | 0.73x | GBX883.80 Million | GBX506.50 Million | GBX1.22 Billion | ▲ +46.5% |
| 1994 | 0.50x | GBX798.80 Million | GBX455.10 Million | GBX1.61 Billion | ▲ +4.3% |
| 1993 | 0.47x | GBX790.70 Million | GBX408.40 Million | GBX1.67 Billion | — |