National Grid PLC (NG) — 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). Check National Grid PLC total reinvestment intensity to assess the company's total reinvestment commitment from operating cash flow.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
National Grid PLC Financial Flexibility Index (1993–2026)
Historical Financial Flexibility Index trend for National Grid PLC across 34 annual periods. For the full cash flow conversion analysis, see National Grid PLC cash conversion from operations.
Annual Financial Flexibility Index for National Grid PLC (1993–2026)
Year-by-year free cash flow to debt coverage for National Grid PLC. Explore debt repayment capacity of National Grid PLC to assess how comfortably operating cash covers total debt obligations.
| 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 | — |