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). See National Grid PLC (NG) working capital ratio to evaluate short-term liquidity relative to the company's equity base.
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 cash flow to debt ratio of National Grid PLC to assess how comfortably operating cash covers total debt obligations.
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 | — |