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National Grid
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Arincen37/100B

National Grid cash flow statement 1993–2027

National Grid's free cash flow over the last twelve months was -3.67B GBP: operating cash flow of 7.60B GBP less 11.27B GBP of capital spending. That is -19.4% of its revenue and -3.67 a share.

Operating cash flow Free cash flow

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Fiscal year
TTM
30 Sept 2026
FY2026
31 Mar 2026
FY2025
31 Mar 2025
FY2024
31 Mar 2024
FY2023
31 Mar 2023
FY2022
31 Mar 2022
FY2021
31 Mar 2021
FY2020
31 Mar 2020
FY2019
31 Mar 2019
FY2018
31 Mar 2018
FY2017
31 Mar 2017
Net income
4.01B3.29B2.79B2.22B2.64B2.27B1.23B1.31B1.50B3.34B1.89B
Depreciation and amortization
2.39B2.25B2.19B2.06B1.98B1.83B1.58B1.44B1.59B1.53B1.48B
Stock-based compensation
—0.000.000.000.000.000.000.000.000.000.00
Change in working capital
528.29M771.34M39.44M-49.04M532.39M-232.08M248.50M404.97M40.09M111.20M157.62M
Change in receivables
—0.000.000.000.000.000.000.000.000.000.00
Change in inventory
—0.000.000.000.000.000.000.000.000.000.00
Change in payables
—0.000.000.000.000.000.000.000.000.000.00
Change in other working capital
528.29M771.34M39.44M-49.04M532.39M-232.08M248.50M404.97M40.09M111.20M157.62M
Other non-cash items
646.41M22.31M259.55M1.41B412.24M1.78B539.06M766.65M417.35M-1.45B1.21B
Operating cash flow
7.60B6.33B5.27B5.64B5.57B5.65B3.59B3.92B3.55B3.53B4.74B
Operating cash flow growth
+21.74%+20.17%-6.56%+1.27%-1.34%+57.08%-8.19%+10.36%+0.42%-25.45%-5.10%
Capital expenditure
-11.27B-10.15B-8.66B-6.91B-6.16B-5.31B-3.98B-4.71B-3.64B-3.52B-3.44B
Acquisitions
—2.92B1.27B52.05M84.68M-8.13B6.61M2.09B38.08M-9.42M5.71B
Purchases of investments
—-163.62M-3.08B-1.56B-523.63M-1.31B-608.50M-338.16M-263.57M-187.54M-5.99B
Sales and maturities of investments
—3.41B83.81M102.09M683.25M653.56M62.36M71.95M841.83M5.74B0.00
Other investing
-1.64B14.23M26.62M1.03B6.45B-239.36M-31.18M-223.04M156.34M161.15M-709.82M
Investing cash flow
-11.10B-4.57B-10.87B-7.83B-14.60M-14.79B-4.92B-3.44B-3.18B2.01B-4.66B
Debt issued (repaid)
5.35B-1.03B1.28B4.41B-3.76B11.53B2.72B556.07M965.09M-202.61M881.02M
Shares issued
23.94M39.63M6.75B16.01M16.55M34.34M15.12M16.45M17.04M31.10M18.79M
Share buybacks
—0.000.000.000.00-3.12M-1.89M-6.17M-2.00M-963.12M-203.55M
Dividends paid
-1.73B-1.65B-1.51B-1.72B-1.56B-959.53M-1.34B-916.84M-1.16B-4.23B-1.53B
Other financing
-14.48M-91.46M-171.56M-90.08M-282.25M-1.42B23.62M-316.58M-268.58M-945.22M1.78B
Financing cash flow
3.63B-2.73B6.36B2.62B-5.59B9.18B1.42B-667.07M-450.98M-6.31B944.69M
Net change in cash
-594.47M-778.07M629.41M402.00M-54.24M39.61M91.24M-192.52M-101.68M-684.66M994.99M
Free cash flow
-3.67B-3.82B-3.39B-1.27B-585.92M340.31M-382.67M-795.55M-95.21M10.37M1.30B
Free cash flow growth
————-272.17%———-1,018.42%-99.20%-34.86%
Free cash flow margin
-19.40%-21.58%-18.42%-6.39%-2.71%1.84%-2.07%-5.95%-0.64%0.07%8.64%
Free cash flow per share
-3.67-3.84-3.58-1.57-0.730.43-0.49-1.05-0.130.011.72
Free cash flow per share growth
————-269.36%———-1,038.68%-99.20%-34.69%
Income taxes paid
—0.000.000.000.000.000.000.000.000.000.00

Figures in GBP. Free cash flow is operating cash flow less capital expenditure; owner earnings take off only the spending that keeps the business as it is, not the spending to grow it (an estimate by Financial Modeling Prep). Quarterly growth is on the same quarter a year before; TTM is the last four quarters.

Common questions about National Grid's cash flow

Source: Financial Modeling Prep