National Grid plc (NNGD) - Net Assets
Based on the latest financial reports, National Grid plc (NNGD) has net assets worth €37.83 Billion EUR (≈ $44.22 Billion USD) as of March 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€106.74 Billion ≈ $124.79 Billion USD) and total liabilities (€68.92 Billion ≈ $80.57 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore National Grid plc balance sheet assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €37.83 Billion |
| % of Total Assets | 35.44% |
| Annual Growth Rate | 8.03% |
| 5-Year Change | 90.46% |
| 10-Year Change | N/A |
| Growth Volatility | 11.98 |
National Grid plc - Net Assets Trend (2017–2025)
This chart illustrates how National Grid plc's net assets have evolved over time, based on quarterly financial data. For live valuation and market cap data, see how much is National Grid plc worth.
Annual Net Assets for National Grid plc (2017–2025)
The table below shows the annual net assets of National Grid plc from 2017 to 2025. Explore NNGD cash flow conversion to assess how effectively this company generates cash.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | €37.83 Billion ≈ $44.22 Billion |
+26.54% |
| 2024-03-31 | €29.89 Billion ≈ $34.95 Billion |
+1.12% |
| 2023-03-31 | €29.56 Billion ≈ $34.56 Billion |
+23.92% |
| 2022-03-31 | €23.86 Billion ≈ $27.89 Billion |
+20.12% |
| 2021-03-31 | €19.86 Billion ≈ $23.22 Billion |
+1.41% |
| 2020-03-31 | €19.58 Billion ≈ $22.90 Billion |
+1.11% |
| 2019-03-31 | €19.37 Billion ≈ $22.64 Billion |
+2.76% |
| 2018-03-31 | €18.85 Billion ≈ $22.04 Billion |
-7.54% |
| 2017-03-31 | €20.38 Billion ≈ $23.83 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to National Grid plc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 77.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €40.11 Billion | 106.09% |
| Total Equity | €37.80 Billion | 100.00% |
National Grid plc Competitors by Market Cap
The table below lists competitors of National Grid plc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Illinois Tool Works Inc
NYSE:ITW
|
$73.60 Billion |
|
Caixabank SA
MC:CABK
|
$74.28 Billion |
|
Postal Savings Bank of China Co Ltd
SHG:601658
|
$74.37 Billion |
|
Cummins Inc
NYSE:CMI
|
$74.50 Billion |
|
Ecolab Inc
NYSE:ECL
|
$73.50 Billion |
|
CAIXABANK UN.ADR 1/3 DL 1
F:FV9J
|
$73.43 Billion |
|
CSX Corporation
NASDAQ:CSX
|
$73.08 Billion |
|
LG Energy Solution Ltd
KO:373220
|
$73.03 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in National Grid plc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 29,867,000,000 to 37,803,000,000, a change of 7,936,000,000 (26.6%).
- Net income of 2,902,000,000 contributed positively to equity growth.
- Dividend payments of 1,529,000,000 reduced retained earnings.
- Share repurchases of 7,000,000 reduced equity.
- New share issuances of 7,019,000,000 increased equity.
- Other factors decreased equity by 449,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €2.90 Billion | +7.68% |
| Dividends Paid | €1.53 Billion | -4.04% |
| Share Repurchases | €7.00 Million | -0.02% |
| Share Issuances | €7.02 Billion | +18.57% |
| Other Changes | €-449.00 Million | -1.19% |
| Total Change | €- | 26.57% |
Book Value vs Market Value Analysis
This analysis compares National Grid plc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 9.33x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 12.15x to 9.33x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-03-31 | €5.93 | €72.00 | x |
| 2018-03-31 | €5.61 | €72.00 | x |
| 2019-03-31 | €5.67 | €72.00 | x |
| 2020-03-31 | €5.58 | €72.00 | x |
| 2021-03-31 | €5.59 | €72.00 | x |
| 2022-03-31 | €6.54 | €72.00 | x |
| 2023-03-31 | €7.38 | €72.00 | x |
| 2024-03-31 | €7.38 | €72.00 | x |
| 2025-03-31 | €7.72 | €72.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently National Grid plc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 7.68%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 15.79%
- • Asset Turnover: 0.17x
- • Equity Multiplier: 2.82x
- Recent ROE (7.68%) is below the historical average (14.59%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 38.27% | 51.85% | 0.23x | 3.23x | €5.76 Billion |
| 2018 | 18.85% | 23.28% | 0.26x | 3.12x | €1.67 Billion |
| 2019 | 7.81% | 10.12% | 0.24x | 3.25x | €-423.90 Million |
| 2020 | 6.46% | 8.69% | 0.22x | 3.43x | €-692.20 Million |
| 2021 | 8.27% | 11.10% | 0.22x | 3.39x | €-343.90 Million |
| 2022 | 9.87% | 12.89% | 0.19x | 3.98x | €-30.30 Million |
| 2023 | 26.40% | 36.00% | 0.23x | 3.14x | €4.84 Billion |
| 2024 | 7.67% | 11.54% | 0.20x | 3.29x | €-696.70 Million |
| 2025 | 7.68% | 15.79% | 0.17x | 2.82x | €-878.30 Million |
Industry Comparison
This section compares National Grid plc's net assets metrics with peer companies in the Utilities - Regulated Electric industry.
Industry Context
- Industry: Utilities - Regulated Electric
- Average net assets among peers: $5,478,860,676,429
- Average return on equity (ROE) among peers: 4.72%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| National Grid plc (NNGD) | €37.83 Billion | 38.27% | 1.82x | $73.58 Billion |
| CENTRAL PUERTO ADR/1 AP1 (C3TA) | $813.88 Billion | 15.86% | 0.46x | $2.14 Billion |
| CLP HLDGS LTD ADR/1 HD 5 (CLP1) | $115.69 Billion | 0.92% | 1.04x | $19.96 Billion |
| S.ENER.ELEC.SP.GDR REGS 1 (ECEA) | $4.57 Billion | -5.26% | 1.34x | $1.10 Billion |
| Korea Electric Power Corporation (KOP) | $37.26 Trillion | -12.94% | 5.43x | $18.31 Billion |
| Mainova AG (MNV6) | $1.02 Billion | 9.48% | 1.67x | $2.40 Billion |
| Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (PWD1) | $59.15 Billion | 20.51% | 1.02x | $510.32 Million |
| Huadian Power International Corporation Limited (SHX) | $92.96 Billion | 4.50% | 1.52x | $879.34 Million |
About National Grid plc
National Grid plc engages in the transmission and distribution of electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission networks in England and Wales. The UK Electricity Distribution segment offers electricity dis… Read more