National Grid PLC (NG) — Free Cash Flow Generation Index
National Grid PLC (NG) has a Free Cash Flow Generation Index of -0.63x as of March 2026. Free cash flow of GBX-2.13 Billion represents -1% of operating cash flow (GBX3.41 Billion). Explore NG capex to operating cash flow ratio to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
National Grid PLC Free Cash Flow Generation Index (1993–2026)
Historical FCF Generation Index trend for National Grid PLC across 32 annual periods. For the full cash flow conversion analysis, see cash efficiency ratio of National Grid PLC.
Annual Free Cash Flow Generation for National Grid PLC (1993–2026)
Year-by-year Free Cash Flow Generation Index for National Grid PLC. Check National Grid PLC (NG) reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (GBX) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2026 | -0.60x | GBX-3.76 Billion | GBX6.23 Billion | GBX9.99 Billion | ▼ -64.2% |
| 2025 | -0.37x | GBX-2.50 Billion | GBX6.81 Billion | GBX8.78 Billion | ▼ -395.3% |
| 2024 | -0.07x | GBX-514.00 Million | GBX6.94 Billion | GBX6.90 Billion | ▼ -8616.0% |
| 2023 | 0.00x | GBX6.00 Million | GBX6.90 Billion | GBX6.89 Billion | ▼ -99.3% |
| 2022 | 0.12x | GBX728.00 Million | GBX6.27 Billion | GBX5.54 Billion | ▲ +258.3% |
| 2021 | -0.07x | GBX-327.00 Million | GBX4.46 Billion | GBX4.79 Billion | ▼ -20.0% |
| 2020 | -0.06x | GBX-282.00 Million | GBX4.62 Billion | GBX4.90 Billion | ▼ -169.9% |
| 2019 | 0.09x | GBX377.00 Million | GBX4.32 Billion | GBX3.94 Billion | ▼ -33.6% |
| 2018 | 0.13x | GBX592.00 Million | GBX4.50 Billion | GBX3.91 Billion | ▼ -59.8% |
| 2017 | 0.33x | GBX1.71 Billion | GBX5.23 Billion | GBX3.52 Billion | ▲ +0.9% |
| 2016 | 0.32x | GBX1.74 Billion | GBX5.37 Billion | GBX3.63 Billion | ▼ -5.9% |
| 2015 | 0.34x | GBX1.72 Billion | GBX5.01 Billion | GBX3.28 Billion | ▲ +54.4% |
| 2014 | 0.22x | GBX896.00 Million | GBX4.02 Billion | GBX3.12 Billion | ▲ +131.6% |
| 2013 | 0.10x | GBX361.00 Million | GBX3.75 Billion | GBX3.39 Billion | ▼ -53.6% |
| 2012 | 0.21x | GBX878.00 Million | GBX4.23 Billion | GBX3.35 Billion | ▼ -41.5% |
| 2011 | 0.35x | GBX1.72 Billion | GBX4.86 Billion | GBX3.13 Billion | ▲ +14.1% |
| 2010 | 0.31x | GBX1.41 Billion | GBX4.52 Billion | GBX3.11 Billion | ▲ +389.9% |
| 2009 | 0.06x | GBX216.00 Million | GBX3.40 Billion | GBX3.19 Billion | ▼ -86.2% |
| 2008 | 0.46x | GBX2.44 Billion | GBX5.32 Billion | GBX2.88 Billion | ▲ +1447.8% |
| 2007 | -0.03x | GBX-73.00 Million | GBX2.15 Billion | GBX2.22 Billion | ▼ -113.0% |
| 2006 | 0.26x | GBX595.00 Million | GBX2.27 Billion | GBX1.67 Billion | ▼ -35.9% |
| 2005 | 0.41x | GBX1.04 Billion | GBX2.55 Billion | GBX1.51 Billion | ▲ +2547.8% |
| 2004 | 0.02x | GBX22.00 Million | GBX1.42 Billion | GBX1.40 Billion | ▼ -90.8% |
| 2003 | 0.17x | GBX306.00 Million | GBX1.82 Billion | GBX1.52 Billion | ▲ +249.7% |
| 2002 | 0.05x | GBX26.60 Million | GBX554.40 Million | GBX527.80 Million | ▲ +101.0% |
| 2001 | -4.80x | GBX-400.00 Million | GBX83.40 Million | GBX483.40 Million | ▼ -433.7% |
| 2000 | -0.90x | GBX-134.70 Million | GBX149.90 Million | GBX284.60 Million | ▲ +18.3% |
| 1999 | -1.10x | GBX-166.50 Million | GBX151.30 Million | GBX317.80 Million | ▼ -286.6% |
| 1997 | 0.59x | GBX409.70 Million | GBX694.70 Million | GBX285.00 Million | ▲ +131.2% |
| 1995 | 0.26x | GBX129.20 Million | GBX506.50 Million | GBX377.30 Million | ▲ +4.2% |
| 1994 | 0.24x | GBX111.40 Million | GBX455.10 Million | GBX343.70 Million | ▲ +283.0% |
| 1993 | 0.06x | GBX26.10 Million | GBX408.40 Million | GBX382.30 Million | — |