National Grid PLC (NG) — Free Cash Flow Generation Index
National Grid PLC (NG) has a Free Cash Flow Generation Index of -0.57x as of September 2025. Free cash flow of GBX-1.62 Billion represents -1% of operating cash flow (GBX2.82 Billion). Read National Grid PLC total liabilities for a breakdown of total debt and financial obligations.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
National Grid PLC Free Cash Flow Generation Index (1993–2025)
Historical FCF Generation Index trend for National Grid PLC across 31 annual periods. Explore NG capex reinvestment rate to see what proportion of operating cash flow is directed to capital expenditures.
Annual Free Cash Flow Generation for National Grid PLC (1993–2025)
Year-by-year Free Cash Flow Generation Index for National Grid PLC. For the full company profile including market capitalisation, see NG market cap overview.
| Year | FCG Index | Free Cash Flow (GBX) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 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 | — |