National Grid annual debt-to-ebitda ratio
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
National Grid Debt-to-EBITDA Ratio Growth & History (NG.)
National Grid's debt-to-ebitda ratio was 6.14 for fiscal 2026.
View full National Grid company overviewNational Grid annual debt-to-ebitda ratio history
| Fiscal year | Period ended | Debt-to-EBITDA ratio | Change | Growth |
|---|---|---|---|---|
| 2026 | 2026-03-31 | 6.14 | −0.59 | −8.83% |
| 2025 | 2025-03-31 | 6.74 | −0.54 | −7.38% |
| 2024 | 2024-03-31 | 7.27 | 0.97 | +15.41% |
| 2023 | 2023-03-31 | 6.30 | −1.01 | −13.78% |
| 2022 | 2022-03-31 | 7.31 | −0.52 | −6.70% |
| 2021 | 2021-03-31 | 7.83 | −0.21 | −2.63% |
| 2020 | 2020-03-31 | 8.05 | 1.52 | +23.26% |
| 2019 | 2019-03-31 | 6.53 | 1.23 | +23.14% |
| 2018 | 2018-03-31 | 5.30 | −0.81 | −13.21% |
| 2017 | 2017-03-31 | 6.11 | −0.14 | −2.26% |
| 2016 | 2016-03-31 | 6.25 | — | — |
National Grid debt-to-ebitda ratio trends
Over the last five fiscal years, National Grid's debt-to-ebitda ratio decreased from 7.83 to 6.14, a change of −1.69.
About the metric
What the debt-to-EBITDA ratio means
Debt-to-EBITDA compares interest-bearing debt with operating earnings before interest, taxes, depreciation, and amortization. It is commonly used to assess leverage, but it is generally unsuitable for banks and other financial companies.
Calculation and source
How debt-to-EBITDA is calculated
TickerStat divides period-end total debt by annual EBITDA. Quarterly observations use trailing-12-month EBITDA. Periods with zero or negative EBITDA are excluded because the leverage multiple would not be meaningful. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review National Grid source filings ↗Community posts
National Grid wins planning consent for Sea Link, with construction expected in 2027
National Grid (London: NG.) received development consent for Sea Link on 30 October 2026, clearing a major planning step for its electricity connection between Suffolk and Kent. The project includes a 138 km high-voltage link, largely offsh ...
