National Grid PLC (NG) — Working Capital to Net Assets Ratio
National Grid PLC (NG) has a Working Capital to Net Assets ratio of -5.9% as of March 2026. Working capital of GBX-2.31 Billion (current assets of GBX7.49 Billion minus current liabilities of GBX9.80 Billion) is measured against net assets of GBX39.33 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See operational self-sufficiency of National Grid PLC to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
National Grid PLC Working Capital to Net Assets (1993–2026)
This chart shows how National Grid PLC's Working Capital to Net Assets ratio has evolved across 34 annual periods from 1993 to 2026. As of March 2026, the ratio stands at -5.9%, reflecting working capital of GBX-2.31 Billion against net assets of GBX39.33 Billion GBX. For the complete balance sheet picture, see National Grid PLC (NG) total assets.
Annual Working Capital to Net Assets for National Grid PLC (1993–2026)
The table below presents the year-by-year Working Capital to Net Assets ratio for National Grid PLC from 1993 to 2026, covering 34 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. Check NG asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (GBX) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2026 | -5.9% | GBX-2.31 Billion | GBX39.33 Billion | GBX7.49 Billion | GBX9.80 Billion | ▼ -15.7 pp |
| 2025 | 9.8% | GBX3.71 Billion | GBX37.83 Billion | GBX14.33 Billion | GBX10.62 Billion | ▲ +13.2 pp |
| 2024 | -3.4% | GBX-1.01 Billion | GBX29.89 Billion | GBX10.38 Billion | GBX11.39 Billion | ▼ -3.5 pp |
| 2023 | 0.1% | GBX36.00 Million | GBX29.56 Billion | GBX9.17 Billion | GBX9.13 Billion | ▲ +28.7 pp |
| 2022 | -28.5% | GBX-6.81 Billion | GBX23.86 Billion | GBX17.96 Billion | GBX24.77 Billion | ▼ -31.4 pp |
| 2021 | 2.9% | GBX570.00 Million | GBX19.86 Billion | GBX9.94 Billion | GBX9.37 Billion | ▲ +17.0 pp |
| 2020 | -14.1% | GBX-2.76 Billion | GBX19.58 Billion | GBX5.80 Billion | GBX8.56 Billion | ▼ -8.0 pp |
| 2019 | -6.1% | GBX-1.18 Billion | GBX19.37 Billion | GBX7.95 Billion | GBX9.13 Billion | ▲ +4.6 pp |
| 2018 | -10.7% | GBX-2.02 Billion | GBX18.85 Billion | GBX6.68 Billion | GBX8.70 Billion | ▼ -25.7 pp |
| 2017 | 15.0% | GBX3.06 Billion | GBX20.38 Billion | GBX13.57 Billion | GBX10.51 Billion | ▲ +25.4 pp |
| 2016 | -10.4% | GBX-1.41 Billion | GBX13.56 Billion | GBX6.31 Billion | GBX7.72 Billion | ▲ +0.8 pp |
| 2015 | -11.2% | GBX-1.34 Billion | GBX11.97 Billion | GBX6.03 Billion | GBX7.37 Billion | ▼ -12.5 pp |
| 2014 | 1.3% | GBX158.00 Million | GBX11.92 Billion | GBX7.49 Billion | GBX7.33 Billion | ▼ -19.5 pp |
| 2013 | 20.8% | GBX2.13 Billion | GBX10.23 Billion | GBX9.58 Billion | GBX7.45 Billion | ▲ +24.6 pp |
| 2012 | -3.8% | GBX-353.00 Million | GBX9.25 Billion | GBX5.65 Billion | GBX6.00 Billion | ▲ +1.7 pp |
| 2011 | -5.5% | GBX-503.00 Million | GBX9.07 Billion | GBX6.32 Billion | GBX6.83 Billion | ▲ +29.9 pp |
| 2010 | -35.5% | GBX-1.49 Billion | GBX4.21 Billion | GBX5.07 Billion | GBX6.56 Billion | ▼ -28.7 pp |
| 2009 | -6.8% | GBX-271.00 Million | GBX3.98 Billion | GBX6.75 Billion | GBX7.03 Billion | ▼ -3.0 pp |
| 2008 | -3.8% | GBX-205.00 Million | GBX5.37 Billion | GBX6.94 Billion | GBX7.15 Billion | ▼ -98.6 pp |
| 2007 | 94.8% | GBX3.92 Billion | GBX4.14 Billion | GBX7.28 Billion | GBX3.36 Billion | ▲ +148.2 pp |
| 2006 | -53.4% | GBX-1.86 Billion | GBX3.49 Billion | GBX3.82 Billion | GBX5.68 Billion | ▲ +135.7 pp |
| 2005 | -189.1% | GBX-4.01 Billion | GBX2.12 Billion | GBX1.96 Billion | GBX5.97 Billion | ▼ -227.6 pp |
| 2004 | 38.6% | GBX490.00 Million | GBX1.27 Billion | GBX5.00 Billion | GBX4.51 Billion | ▼ -34.6 pp |
| 2003 | 73.1% | GBX904.00 Million | GBX1.24 Billion | GBX5.95 Billion | GBX5.05 Billion | ▼ -15.3 pp |
| 2002 | 88.4% | GBX2.91 Billion | GBX3.29 Billion | GBX5.88 Billion | GBX2.97 Billion | ▲ +88.3 pp |
| 2001 | 0.1% | GBX5.10 Million | GBX3.52 Billion | GBX2.22 Billion | GBX2.21 Billion | ▼ -20.4 pp |
| 2000 | 20.5% | GBX603.70 Million | GBX2.94 Billion | GBX2.46 Billion | GBX1.86 Billion | ▲ +3.5 pp |
| 1999 | 17.0% | GBX331.40 Million | GBX1.95 Billion | GBX1.75 Billion | GBX1.41 Billion | ▲ +93.7 pp |
| 1998 | -76.7% | GBX-713.20 Million | GBX929.40 Million | GBX384.00 Million | GBX1.10 Billion | ▼ -33.1 pp |
| 1997 | -43.6% | GBX-605.50 Million | GBX1.39 Billion | GBX368.20 Million | GBX973.70 Million | ▼ -5.0 pp |
| 1996 | -38.6% | GBX-425.20 Million | GBX1.10 Billion | GBX385.80 Million | GBX811.00 Million | ▼ -19.4 pp |
| 1995 | -19.2% | GBX-378.50 Million | GBX1.97 Billion | GBX308.40 Million | GBX686.90 Million | ▼ -9.6 pp |
| 1994 | -9.6% | GBX-163.50 Million | GBX1.70 Billion | GBX645.60 Million | GBX809.10 Million | ▲ +8.9 pp |
| 1993 | -18.5% | GBX-260.20 Million | GBX1.40 Billion | GBX636.20 Million | GBX896.40 Million | — |