National Grid (NGG) Income Statement: Revenue & Earnings

National Grid Income Statement Analysis

Revenue, earnings, and profit margins in billions GBP

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National Grid plc income statement - Annual data in billions GBP
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period Ending	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Revenue & Gross Profit
Revenue	18.38	19.85	21.66	18.45	13.67	13.36	14.93	15.25	15.04
Cost of Revenue	4.15	5.27	8.62	6.10	6.10	4.04	3.15	2.84	2.38
Gross Profit	14.23	14.58	13.04	12.35	12.35	9.32	11.79	12.41	12.65
Operating Expenses
Research & Development	0.04	0.03	0.02	0.01	0.01	0.01	0.02	0.01	0.01
Selling, General & Administrative	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Expenses	9.29	10.10	8.15	7.98	7.98	7.05	8.92	8.92	9.44
Operating Income	4.93	4.48	4.88	4.38	4.37	2.28	2.87	3.49	3.21
Other Income/Expense
Interest Income	0.34	0.25	0.17	0.05	0.06	0.05	0.05	0.05	0.03
Interest Expense	1.38	1.35	1.68	1.16	0.69	1.01	0.93	0.94	0.93
Other Income/Expense	-1.28	-1.43	-1.29	-0.93	-0.93	-0.88	-1.03	-0.83	-1.02
Income
Income Before Tax	3.65	3.05	3.59	3.44	1.66	1.40	1.84	2.66	2.18
Income Tax Expense	0.82	0.83	0.88	1.26	0.36	0.37	0.34	-0.89	0.37
Net Income	2.90	2.29	7.80	2.35	1.64	1.26	1.51	3.55	7.80
Net Income - Continuous Operations	2.90	2.29	2.71	2.18	2.35	1.26	1.51	3.55	7.80
Net Income - Discontinued Operations	0.08	0.07	5.08	0.17	0.00	0.00	0.00	0.00	0.00
EBITDA	7.64	6.54	7.25	6.20	3.89	3.83	4.45	5.33	4.74
EBIT	5.46	4.48	5.27	4.37	2.40	0.00	0.00	0.00	0.00
Depreciation & Amortization	2.18	1.69	1.98	1.83	1.18	1.44	1.59	1.53	1.48
Earnings Per Share
Basic EPS	3.00	3.00	10.00	3.00	2.00	2.00	2.00	4.00	3.00
Diluted EPS	3.00	1.00	10.00	1.00	-	2.00	2.00	4.00	3.00
Basic Shares Outstanding	0.94	0.80	0.80	0.72	0.70	0.75	0.74	0.75	0.75
Diluted Shares Outstanding	0.95	0.80	0.80	0.72	0.71	0.76	0.74	0.76	0.75