National Grid (NGG) Balance Sheet: Assets & Liabilities

National Grid (NGG) Balance Sheet

As of Mar 31, 2026 (end of fiscal 2026), National Grid reported total assets of GBP 108.29B and total liabilities of GBP 68.95B. Shareholders' equity was GBP 39.30B, up 4.0% from GBP 37.80B a year earlier. Total debt stood at GBP 46.76B against GBP 2.83B in cash and short-term investments, a net debt position of GBP 43.93B. That puts debt-to-equity at 1.19, compared with 1.24 a year earlier.

National Grid Balance Sheet Analysis

Values in billions GBP

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for National Grid plc (NGG) - Annual data in billions GBP
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Current Assets
Cash and Cash Equivalents	0.38	1.18	0.56	0.16	0.20	0.15	0.07	0.25	0.33	1.14
Short-Term Investments	2.45	5.75	0.62	0.84	0.85	2.34	2.00	1.98	2.69	8.74
Cash & Short-Term Investments	2.83	6.93	4.26	2.77	3.35	2.49	2.07	2.23	3.02	9.88
Accounts Receivable	3.88	3.05	3.42	3.83	3.72	2.53	2.58	3.15	1.67	3.10
Inventory	0.56	0.56	0.83	0.88	0.51	0.35	0.42	0.37	0.27	0.30
Other Current Assets	0.22	3.09	1.88	1.64	10.39	4.57	0.74	2.19	1.72	1.80
Total Current Assets	7.49	14.33	10.38	9.11	17.96	9.94	5.80	7.95	6.68	13.57
Non-Current Assets
Property, Plant & Equipment (Net)	81.52	74.09	68.91	64.43	57.53	47.04	49.76	44.86	39.85	39.83
Long-Term Investments	2.09	0.61	2.30	2.16	2.07	0.00	0.00	1.28	3.07	3.18
Goodwill	9.42	9.53	9.73	9.85	9.53	4.59	5.71	5.37	5.44	6.10
Intangible Assets	3.88	3.56	3.43	3.60	3.27	1.44	1.30	1.08	0.90	0.92
Other Non-Current Assets	3.89	3.82	3.58	3.54	4.49	4.20	4.93	-0.06	-0.05	-4.09
Total Non-Current Assets	100.80	92.41	87.95	83.58	76.90	57.28	61.76	52.59	49.26	50.03
Total Assets	108.29	106.74	98.33	92.70	94.86	67.22	67.56	63.41	58.79	65.84
Current Liabilities
Accounts Payable	5.05	2.97	4.08	5.07	4.92	2.17	2.21	3.77	1.98	2.14
Short-Term Debt	3.90	4.54	4.75	2.86	12.01	3.74	4.07	4.54	4.77	6.55
Current Portion of Long-Term Debt	3.90	4.66	4.86	2.96	12.12	3.74	-	-	-	-
Deferred Revenue	0.11	0.00	0.13	0.25	0.13	0.00	0.00	0.37	0.44	0.30
Other Current Liabilities	0.74	2.64	2.33	0.86	7.60	3.25	2.00	-0.13	1.39	1.72
Total Current Liabilities	9.80	10.62	11.39	9.13	24.77	9.37	8.56	9.13	8.70	10.51
Non-Current Liabilities
Long-Term Debt	42.86	42.17	42.21	40.03	33.34	27.48	26.72	24.26	22.80	24.31
Deferred Tax Liabilities	9.04	8.04	7.52	7.18	6.77	4.82	4.45	4.22	3.64	8.57
Other Non-Current Liabilities	4.56	4.55	14.83	13.98	12.89	4.52	6.85	5.31	-0.21	-0.24
Total Non-Current Liabilities	59.16	58.30	57.04	54.01	46.23	37.99	39.20	34.72	22.59	24.07
Total Liabilities	68.95	68.92	68.43	63.14	71.00	47.36	47.77	43.84	39.94	45.46
Stockholders' Equity
Common Stock	0.65	0.64	0.49	0.49	0.49	0.47	0.47	0.46	0.45	0.45
Retained Earnings	41.91	40.11	32.07	31.61	26.61	23.16	21.90	22.00	21.60	22.58
Accumulated Other Comprehensive Income	-4.54	0.00	-3.99	-3.86	-4.56	0.00	0.00	-4.24	0.63	1.18
Additional Paid-in Capital	1.29	1.31	1.32	1.30	1.32	-3.80	-2.59	-2.91	-3.22	-2.66
Minority Interest	0.03	0.02	0.03	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Shares Outstanding	4.97	4.90	4.05	4.00	3.97	-	-	-	-	-
Total Stockholders' Equity	39.30	37.80	29.89	29.56	23.86	19.84	19.77	19.55	18.83	20.37
Total Liabilities & Equity	108.29	106.74	98.33	92.70	94.86	67.22	67.56	63.41	58.79	65.84

Source: Company financial statements from annual and quarterly filings. Data as of Mar 31, 2026. Data sources and methodology

Frequently Asked Questions About National Grid Balance Sheet

How much debt does National Grid have?

National Grid had total debt of GBP 46.76B as of Mar 31, 2026, against GBP 2.83B in cash and short-term investments. Its debt-to-equity ratio was 1.19. Total debt was GBP 46.71B a year earlier.

What are National Grid's total assets?

National Grid reported total assets of GBP 108.29B as of Mar 31, 2026, up 1.4% from GBP 106.74B a year earlier. Total liabilities were GBP 68.95B.

What is National Grid's shareholders' equity?

National Grid's shareholders' equity was GBP 39.30B as of Mar 31, 2026, or about GBP 7.90 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition