National Grid annual net debt
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
National Grid Net Debt Growth & History (NG.)
National Grid's net debt was £47.27B for fiscal 2026.
View full National Grid company overviewNational Grid annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2026 | 2026-03-31 | £47.27B | £83.0M | +0.18% |
| 2025 | 2025-03-31 | £47.19B | −£102.0M | −0.22% |
| 2024 | 2024-03-31 | £47.29B | £3.76B | +8.63% |
| 2023 | 2023-03-31 | £43.54B | −£2.28B | −4.98% |
| 2022 | 2022-03-31 | £45.82B | £14.07B | +44.32% |
| 2021 | 2021-03-31 | £31.75B | £292.0M | +0.93% |
| 2020 | 2020-03-31 | £31.46B | £2.71B | +9.42% |
| 2019 | 2019-03-31 | £28.75B | £2.45B | +9.32% |
| 2018 | 2018-03-31 | £26.30B | −£1.20B | −4.37% |
| 2017 | 2017-03-31 | £27.50B | −£721.0M | −2.55% |
| 2016 | 2016-03-31 | £28.22B | — | — |
National Grid quarterly net debt
Q4.18
Q2.19
Q4.19
Q4.21
Q4.22
Q2.23
Q4.23
Q2.24
Q4.24
Q2.25
Q4.25
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2025-09-30 | £45.03B | £976.0M | +2.22% |
| Q4 2025 | 2025-03-31 | £47.19B | −£102.0M | −0.22% |
| Q2 2025 | 2024-09-30 | £44.05B | −£519.0M | −1.16% |
| Q4 2024 | 2024-03-31 | £47.29B | £3.76B | +8.63% |
| Q2 2024 | 2023-09-30 | £44.57B | −£3.77B | −7.79% |
| Q4 2023 | 2023-03-31 | £43.54B | −£2.28B | −4.98% |
| Q2 2023 | 2022-09-30 | £48.34B | — | — |
| Q4 2022 | 2022-03-31 | £45.82B | £14.07B | +44.32% |
| Q4 2021 | 2021-03-31 | £31.75B | — | — |
| Q4 2019 | 2019-03-31 | £28.75B | £2.45B | +9.32% |
| Q2 2019 | 2018-09-30 | £27.51B | — | — |
| Q4 2018 | 2018-03-31 | £26.30B | — | — |
National Grid net debt trends
Over the last five fiscal years, National Grid's net debt increased from £31.75B to £47.27B, a change of £15.53B. The latest reported quarter, Q2 2026, shows £45.03B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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