National Grid PLC (NG) — Working Capital to Net Assets Ratio
National Grid PLC (NG) has a Working Capital to Net Assets ratio of -0.7% as of September 2025. Working capital of GBX-258.00 Million (current assets of GBX8.93 Billion minus current liabilities of GBX9.19 Billion) is measured against net assets of GBX37.22 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See NG equity financing ratio to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
National Grid PLC Working Capital to Net Assets (1993–2025)
This chart shows how National Grid PLC's Working Capital to Net Assets ratio has evolved across 33 annual periods from 1993 to 2025. As of September 2025, the ratio stands at -0.7%, reflecting working capital of GBX-258.00 Million against net assets of GBX37.22 Billion GBX. Check NG intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for National Grid PLC (1993–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for National Grid PLC from 1993 to 2025, covering 33 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. For live market cap and the full company profile, see NG market cap.
| Year | WC/NA Ratio | Working Capital (GBX) | Net Assets | Current Assets | Current Liabilities | Change (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 | — |