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National Grid plc (NGG)

National Grid owns and operates electricity and gas networks in Britain and the northeastern United States. It reports five business units, UK Electricity Transmission, UK Electricity Distribution, New York, New England and National Grid Ventures, plus Other activities. The financial year ends on 31 March, sterling is the reporting currency, and the US business is discussed in dollars.

National Grid plc

National Grid owns and operates electricity and gas networks in Britain and the northeastern United States. It reports five business units, UK Electricity Transmission, UK Electricity Distribution, New York, New England and National Grid Ventures, plus Other activities. The financial year ends on 31 March, sterling is the reporting currency, and the US business is discussed in dollars.

UK Electricity Transmission

This unit owns and operates the high-voltage electricity transmission network in England and Wales, connecting and transmitting electricity between generators, storage, large customers and distribution networks. It is 34% of group regulatory asset value, rate base and other assets, 30% of underlying operating profit and 38% of capital investment. Its sales were £2,898m in 2025/26 against £2,619m, 11% higher. In March 2026 the company accepted Ofgem's RIIO-T3 price control, which sets the framework from April 2026 to March 2031 and enables up to £31bn of capital investment. Construction started on three new or significantly expanded substations during the year, including Uxbridge Moor, which supports multiple data centre connections.

UK Electricity Distribution

This is the UK's largest electricity distribution network, serving a population of 20 million people across the East Midlands, West Midlands, South West and South Wales, and it includes a Distribution System Operator overseen by an independent panel. It is 18% of regulatory asset value, rate base and other assets, 22% of underlying operating profit and 14% of capital investment.

New York

This unit owns and operates electricity transmission, electricity distribution and gas distribution networks in Upstate and Downstate New York, delivering energy to 4.2 million customers, 1.7 million electric and 2.5 million gas. It is 27% of regulatory asset value, rate base and other assets, 30% of underlying operating profit and 30% of capital investment. Across the US business the company invested approximately $4.6bn during the year, up $440m, against a $23bn five-year capital framework. Under the approved KEDNY and KEDLI rate plans it replaced over 220 miles of leak prone pipe, and the Upstate Upgrade progressed with Smart Path Connect energised.

New England

This unit owns and operates electricity and gas distribution networks in Massachusetts, serving 2.3 million customers, and electricity transmission networks across Massachusetts, New Hampshire and Vermont. It is 14% of regulatory asset value, rate base and other assets, 15% of underlying operating profit and 17% of capital investment.

Ventures and other activities

National Grid Ventures develops and operates large-scale energy projects across the UK and US, including six electricity interconnectors between the UK and Europe, US competitive transmission, power generation and battery storage. It is 4% of regulatory asset value, rate base and other assets, 6% of underlying operating profit and 1% of capital investment. Other activities are primarily National Grid Partners, which the filing describes as the corporate venture capital and innovation arm of National Grid, plus UK property, insurance and corporate activities, and they subtract 3% from underlying operating profit.

The five-year framework

The company has agreed an updated five-year financial framework to 2030/31 with cumulative capital investment of at least £70bn, and the filing states that latest projections have over 80% of group assets electric by 2030/31. Asset growth was 10.9% in 2025/26 against 9.0% the year before. Net debt increased over the year. It stood at £41.4 billion in March 2025 and £44.2 billion in March 2026, against operating cash inflows of £7.8 billion and £1.5 billion of proceeds from the sale of National Grid Renewables, with Grain LNG sold in November 2025. Underlying earnings per share grew 8% at constant currency and the dividend 3.8%, in line with CPIH inflation. The group welcomed 3,790 new employees during the year, including 703 graduates, apprentices and interns.

From National Grid's annual report on Form 20-F for the year ended 31 March 2026. That filing carries no Item 4 or Item 5 heading in its body, using a cross-reference index instead, so the annual report is read as one whole document rather than from separately located sections. The filing

Compare with another name

National Grid plc files a 20-F with the SEC once a year, in pounds sterling. In the year to 31 March 2026 it reported revenue of GBP 17,687 million ($23.7 billion at the year's average rate), down 3.8% on the year before. Its profit attributable to shareholders was GBP 3,241 million, up 11.7%, and diluted earnings per share GBP 0.65.

National Grid (NGG) in brief

National Grid (NGG) reported revenue of GBP 17.7 billion for the year to 31 March 2026, down 3.8% on the year before.
Read moreProfit attributable to shareholders was GBP 3.2 billion and diluted earnings per share GBP 0.65. Revenue was GBP 18.4 billion in the year to 31 March 2025, GBP 19.9 billion in the year to 31 March 2024, GBP 21.7 billion in the year to 31 March 2023 and GBP 18.4 billion in the year to 31 March 2022. Profit attributable to shareholders in the same years was GBP 2.9 billion, GBP 2.3 billion, GBP 7.8 billion and GBP 2.4 billion. Revenue grew 5.3% a year, compounded, over the five years to the year to 31 March 2026. At the close of 10 November 2026 the market cap of National Grid was $86.9 billion, 19.2 times its earnings for the year to 31 March 2026.

The share in the US

Last close$83.60 on 10 November 2026
52-week range$73.54 (24 November 2025) to $93.93 (25 February 2026)
Over one yearup 8.1%
Market cap$86.9 billion: 5,198,968,690 shares outstanding at 31 March 2026 (20-F), each US share standing for 5 ordinary shares
P/E, latest fiscal year19.2: the last close over diluted EPS for the year to Mar 2026, GBP 0.65 per ordinary share times 5, GBP 3.26 per US share, $4.36 at 1.3371 US dollars per GBP on 6 November 2026 (FRED DEXUSUK). The company reports once a year, so this is the latest fiscal year, not the last four quarters.

US dollars per share as it trades in the US; the market cap and the P/E are worked out here, not filed. Prices from IEX, for splits.

Ratios

From the latest annual report, the year to Mar 2026, in dollars

ROE8.2%
ROCE6.3%
Operating margin30.7%
Net margin18.3%
FCF marginn/a
Interest cover3.19
Debt to equity1.19
Cash conversionn/a
Share count, last 12 months5.1%
Sales CAGR, 3 years-6.5%
Profit CAGR, 3 years-25.4%
EPS$4.36

At the close of 10 November 2026

Price$83.60
Market cap$86.9 billion
Stock P/E19.18
Price to book1.65
EV / EBITDAn/a
Dividend yield2.5%
Market cap / sales3.68
52-week high$93.93
52-week low$73.54
Price, 1 year8.1%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowings total National Grid plc states in its annual report, never added up from its parts; lease liabilities are a separate line. Nothing here is a valuation or a view.
NGGgreeksoup.ai
Daily prices to 10 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. This company reports once a year, so every view here moves once a year, on the day each annual report was filed, and holds until the next. P/E is the close over the year's EPS per US share: the EPS as filed, times the 5 ordinary shares one US share stands for, in dollars at the year's average exchange rate (Federal Reserve, from FRED). Sales and margin are each year's revenue in dollars and its operating margin. EV/EBITDA, price to book and market cap to sales set the close against that year's balance sheet in dollars at its year-end rate and its share count per US share. The dashed line is the median over the range shown. The P/E above uses today's exchange rate, so the latest point here can differ from it a little. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on NGG

DividendsGBP 0.5496 a share in FY2025
Filings40 in twelve months: 37 reports on Form 6-K, most often batch filing (11); national GRID PLC scrip dividend (3); holding(s) in company (2); national GRID PLC half-year results 2026/27 (1); pre-close update ahead of HY2026/27 results (1)
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.65 by open interest at the 10 November 2026 close; the straddle prices a 4.2% move to 20 November 2026
13F holders621 funds reported a position for the quarter to 30 June 2026; largest Bank of America Corp.
Congress0 House trades disclosed in six months
Short interest1.3 million shares short, 1.49 days to cover at 30 October 2026

Income statement (profit and loss), 11 fiscal years

Year toMar 2016 †Mar 2017Mar 2018 †Mar 2019 †Mar 2020 †Mar 2021 †Mar 2022Mar 2023 †Mar 2024Mar 2025Mar 2026
Revenue13,21215,03515,25014,93313,36013,66518,44921,65919,85018,37817,687
Research and development19.014.013.019.09.012.011.023.032.043.038.0
Operating profit3,2253,2083,4932,8702,2792,4014,3714,8794,4754,9345,431
Finance costs9771,1401,0091,1571,0208531,0721,5981,7121,8071,705
Profit before tax2,3292,1842,6601,8411,4001,6643,4413,5903,0483,6504,182
Income tax427374-8893393703601,258876831821939
Profit for the year2,5947,7943,5511,5141,2651,6412,3547,7972,2912,9053,243
Profit attributable to shareholders2,5917,7953,5501,5111,2641,6402,3537,7972,2902,9023,241
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
GBP million, from each year's annual report on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed.
Read moreA line the company does not file under the standard tag is left out rather than estimated. A year marked † shows the figure as the company restated it in a later annual report (Mar 2016, Mar 2018, Mar 2019, Mar 2020, Mar 2021, Mar 2023); the first-filed figure is in the CSV. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on. Each year links to its own page.
Year toMar 2016 †Mar 2017Mar 2018 †Mar 2019 †Mar 2020 †Mar 2021 †Mar 2022Mar 2023 †Mar 2024Mar 2025Mar 2026
Diluted EPS0.682.061.020.440.360.460.651.960.570.610.65
Basic EPS0.692.071.030.450.360.470.651.970.570.620.66
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F

GBP per ordinary share, as filed. One US-listed share can stand for more or fewer ordinary shares; the P/E above puts the two on the same basis.

Revenue by segment

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Share
of the parts, latest year
New Yorkn/an/an/an/a4,6014,6055,5616,9946,0946,6897,61843.1%
New Englandn/an/an/an/a4,2354,2144,5504,4273,9484,3064,17423.6%
UK Electricity Transmission3,9574,4104,1263,3251,9781,9642,0281,9462,6952,4842,81115.9%
UK Electricity Distributionn/an/an/an/a0.00.01,4682,0331,7902,4211,93711.0%
National Grid Venturesn/an/an/an/an/a7861,0241,2831,3321,3501,0576.0%
Othern/an/an/an/an/a78.038131723811690.00.5%
NGV and Other824713770597830n/an/an/an/an/an/an/a
UK Electricity System Operatorn/an/an/an/a1,7162,0183,4374,6593,7531,0120.0n/a
UK Gas Transmission9389811,082833n/an/an/an/an/an/an/an/a
US Regulated7,4938,9319,2729,311n/an/an/an/an/an/an/an/a
Not assigned to a part in the filingn/an/an/a867n/an/an/an/an/an/an/an/a
New York FY2020 to FY2026New England FY2020 to FY2026UK Electricity TransmissionUK Electricity Distribution FY2022 to FY2026National Grid Ventures FY2021 to FY2026Other FY2021 to FY2026UK Electricity System Operator FY2020 to FY2025NGV and Other FY2016 to FY2020US Regulated FY2016 to FY2019UK Gas Transmission FY2016 to FY2019
13.2Mar 201615.2Mar 201813.4Mar 202018.4Mar 202219.9Mar 202417.7Mar 2026

GBP billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

GBP million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Revenue by product or service

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Share
of the parts, latest year
Distribution8,9418,3198,31710,91912,63810,99812,89113,12477.2%
Transmission3,2532,6322,5943,0673,4044,0163,5283,72021.9%
Other28422697.03102602933181520.9%
System Operator1,5881,6102,0763,4184,5333,763966n/an/a
Not assigned to a part in the filing867573581735824780675691n/a
DistributionTransmissionOtherSystem Operator FY2019 to FY2025
14.1Mar 201912.8Mar 202013.1Mar 202117.7Mar 202220.8Mar 202319.1Mar 202417.7Mar 202517.0Mar 2026

GBP billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

GBP million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Revenue by region

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Share
of the parts, latest year
United States7,5938,9719,3129,8889,2589,29710,64612,04810,78711,67112,21569.1%
UK5,6196,0645,9385,0454,1024,3687,8039,6119,0636,7075,47230.9%
United StatesUK
13.2Mar 201615.2Mar 201813.4Mar 202018.4Mar 202219.9Mar 202417.7Mar 2026

GBP billion; hover a block for its figure and share

GBP million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Cash flow statement

Year toMar 2016 †Mar 2017Mar 2018 †Mar 2019 †Mar 2020 †Mar 2021 †Mar 2022Mar 2023 †Mar 2024Mar 2025Mar 2026
Cash from operations5,3685,2294,5034,3184,6184,4616,2726,8986,9396,808n/a
Purchase of property, plant and equipment2,8553,2963,7383,6354,2914,2095,0986,3256,9048,7809,989
Free cash flow2,5131,9337656833272521,17457335.0-1,972n/a
Depreciation and amortisation1,3111,4811,530n/an/an/an/an/an/an/an/a
Buybacks2671891,0170.00.0n/an/an/an/an/an/a
Dividends paid1,3371,4634,4871,1608921,4139221,6071,7181,5291,623
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
GBP million, from the cash flow statement as filed.
Read morePurchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines. Cash from investing and from financing are the company's own section totals, below zero where cash went out. Buybacks are the cash paid for the company's own shares.

Balance sheet at year end

Year toMar 2016 †Mar 2017Mar 2018 †Mar 2019 †Mar 2020 †Mar 2021 †Mar 2022Mar 2023 †Mar 2024Mar 2025Mar 2026
Funded by
Equity attributable to shareholders13,56520,36819,01719,54819,77119,83923,83329,53829,86737,80339,299
Non-controlling interestsn/a16.016.020.022.021.023.024.025.023.031.0
Borrowings, as filed28,34428,63826,62528,73030,79431,22045,46542,98547,07247,53946,755
Lease liabilitiesn/an/an/a270735685558714779829893
Other liabilitiesn/a16,81813,54614,84416,23815,45124,98119,43620,58220,54821,303
Total equity and liabilitiesn/a65,84059,20463,41267,56067,21694,86092,69798,325106,742108,281
Owned
Property, plant and equipmentn/a39,82540,73044,85949,76247,04357,53264,43368,90774,09181,520
Goodwilln/a6,0964,9845,3725,7124,5889,5329,8479,7299,5329,417
Other intangible assetsn/a9238991,0841,2951,4433,2723,6043,4313,5643,879
Cash and cash equivalents1241,13932925273.01572041635591,178375
Trade and other receivablesn/a2,7282,7983,1532,9862,9193,7153,8303,4154,0923,867
Inventoriesn/a403341370549439511876828557559
Other assetsn/a14,7269,1238,3227,18310,62720,0949,94411,45613,7288,664
Total assetsn/a65,84059,20463,41267,56067,21694,86092,69798,325106,742108,281
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
GBP million, at each fiscal year end.
Read moreBoth totals are the company's own; other liabilities and other assets are each total less the rows shown. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.

Ratios on the filed lines

Year toMar 2016 †Mar 2017Mar 2018 †Mar 2019 †Mar 2020 †Mar 2021 †Mar 2022Mar 2023 †Mar 2024Mar 2025Mar 2026
Operating margin24.4%21.3%22.9%19.2%17.1%17.6%23.7%22.5%22.5%26.8%30.7%
Net margin19.6%51.8%23.3%10.1%9.5%12.0%12.8%36.0%11.5%15.8%18.3%
Free cash flow margin19.0%12.9%5.0%4.6%2.4%1.8%6.4%2.6%0.2%-10.7%n/a
Return on year-end equity19.1%38.3%18.7%7.7%6.4%8.3%9.9%26.4%7.7%7.7%8.2%
Effective tax rate18.3%17.1%-33.4%18.4%26.4%21.6%36.6%24.4%27.3%22.5%22.5%
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F

Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.

Questions

What was National Grid's revenue in the year to 31 March 2026?

National Grid (NGG) reported revenue of GBP 17.7 billion for the year to 31 March 2026, down 3.8% on the year before.

How much did National Grid earn in the year to 31 March 2026?

Profit attributable to shareholders was GBP 3.2 billion for the year to 31 March 2026, and diluted earnings per share GBP 0.65.

What is National Grid's P/E ratio?

At the close of 10 November 2026, National Grid traded at 19.2 times its earnings for the year to 31 March 2026.

What is National Grid's market cap?

The market cap of National Grid was $86.9 billion at the close of 10 November 2026.

Peers: Utilities

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
National Grid plc NGG *$86.9 billion19.188.2%30.7%-3.8%1.192.5%
Williams Companies, Inc. WMB$84.4 billion26.5719.9%37.5%8.8%2.023.1%
Enterprise Products Partners L.P. EPD$80.1 billion12.30n/a12.7%21.5%n/an/a
Kinder Morgan, Inc. KMI$69.5 billion19.2511.4%29.0%11.7%1.053.8%
TC Energy Corporation TRP *$66.1 billion27.3712.9%52.7%10.7%2.203.8%
Targa Resources Corp. TRGP$60.3 billion24.9064.1%22.5%4.7%5.201.6%
Western Midstream Partners, LP WES$17.0 billion13.31n/a38.5%22.3%n/an/a
DT Midstream, Inc. DTM$12.1 billion25.869.8%49.4%13.4%0.682.9%
Antero Midstream Corp. AM$9.4 billion13.9430.5%81.3%7.3%1.424.5%
Kinetik Holdings Inc. KNTK$8.5 billion17.43n/a12.2%15.8%n/a6.2%
Archrock, Inc. AROC$4.9 billion14.3821.4%n/a3.7%1.473.2%
Kodiak Gas Services, Inc. KGS$4.3 billion24.717.5%31.0%14.5%1.264.6%
All 96 in Utilities
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
NextEra Energy Inc. NEE$180.9 billion15.5418.9%30.0%9.6%1.852.8%
Southern Co. SO$109.0 billion21.4311.1%24.7%7.9%1.653.2%
Duke Energy Corp. DUK$100.6 billion18.889.7%28.5%6.8%1.683.3%
Constellation Energy Corp. CEG$94.2 billion21.4513.4%17.5%37.9%0.710.6%
National Grid plc NGG *$86.9 billion19.188.2%30.7%-3.8%1.192.5%
Williams Companies, Inc. WMB$84.4 billion26.5719.9%37.5%8.8%2.023.1%
Enterprise Products Partners L.P. EPD$80.1 billion12.30n/a12.7%21.5%n/an/a
American Electric Power Co. Inc. AEP$69.6 billion20.8810.2%23.4%11.1%1.603.0%
Kinder Morgan, Inc. KMI$69.5 billion19.2511.4%29.0%11.7%1.053.8%
TC Energy Corporation TRP *$66.1 billion27.3712.9%52.7%10.7%2.203.8%
Targa Resources Corp. TRGP$60.3 billion24.9064.1%22.5%4.7%5.201.6%
Dominion Energy, Inc. D$60.2 billion22.729.1%22.5%21.5%1.663.9%
Cheniere Energy, Inc. LNG$59.9 billion20.4846.3%28.1%22.5%3.680.8%
ONEOK Inc. OKE$55.1 billion13.5717.4%14.2%36.8%1.224.9%
Entergy Corp. ETR$53.4 billion25.6810.3%24.6%10.3%1.752.3%
Sempra SRE$51.3 billion16.799.2%n/a-0.9%1.123.3%
Xcel Energy Inc. XEL$50.9 billion18.6710.5%21.7%4.5%1.592.9%
Exelon Corp. EXC$47.1 billion17.678.8%19.8%6.7%1.773.6%
Consolidated Edison Inc. ED$44.3 billion19.098.7%18.7%9.0%1.05n/a
Vistra Corp. VST$43.9 billion17.7042.9%20.6%19.8%3.350.7%
WEC Energy Group, Inc. WEC$38.5 billion21.2412.1%23.5%8.1%1.523.2%
Public Service Enterprise Group Inc. PEG$37.2 billion21.1010.2%21.6%5.3%1.483.5%
Ameren Corp. AEE$31.5 billion19.7711.3%25.2%-0.3%1.552.6%
Venture Global, Inc. VG$30.2 billion5.8049.2%40.0%69.4%4.030.2%
American Water Works Company, Inc. AWK$29.9 billion26.059.5%37.0%5.4%1.372.3%
Atmos Energy Corp. ATO$29.6 billion20.939.2%37.0%6.5%0.682.0%
Pg&E Corp. PCG$29.2 billion9.818.6%20.2%4.1%1.88n/a
Cheniere Energy Partners, L.P. CQP$29.1 billionn/an/a34.2%13.2%n/an/a
DTE Energy Co. DTE$28.9 billion21.1610.8%13.1%12.4%2.253.2%
Centerpoint Energy Inc. CNP$27.3 billion23.579.8%24.4%7.8%2.122.2%
Firstenergy Corp. FE$26.9 billion22.349.3%14.9%12.2%2.323.8%
PPL Corp. PPL$26.9 billion20.418.6%24.5%7.5%1.333.2%
Eversource Energy ES$26.2 billion18.378.7%21.5%4.6%1.764.5%
Edison International EIX$23.2 billion6.4020.3%31.8%2.6%2.335.8%
CMS Energy Corp. CMS$21.9 billion24.929.0%13.8%8.2%2.063.2%
Nisource Inc. NI$21.7 billion23.239.8%27.4%10.0%1.912.6%
Evergy, Inc. EVRG$20.7 billion19.709.7%27.4%8.5%1.473.1%
NRG Energy, Inc. NRG$20.4 billion16.8923.9%7.7%17.4%4.371.9%
Alliant Energy Corp. LNT$19.0 billion20.4012.0%22.6%5.4%1.612.9%
Talen Energy Corp. TLN$17.1 billionn/a-16.1%2.0%71.9%6.06n/a
Western Midstream Partners, LP WES$17.0 billion13.31n/a38.5%22.3%n/an/a
Essential Utilities, Inc. WTRG$12.9 billion22.707.9%72.4%9.2%1.223.2%
Pinnacle West Capital Corp. PNW$12.8 billion19.928.8%20.7%7.5%1.533.4%
DT Midstream, Inc. DTM$12.1 billion25.869.8%49.4%13.4%0.682.9%
OGE Energy Corp. OGE$10.5 billion19.1410.6%25.8%2.4%1.123.3%
Antero Midstream Corp. AM$9.4 billion13.9430.5%81.3%7.3%1.424.5%
Entergy Arkansas, LLC EAI$8.7 billion4.2110.3%24.6%n/a1.7513.3%
Idacorp Inc. IDA$8.7 billion22.789.2%23.5%4.5%0.952.3%
Kinetik Holdings Inc. KNTK$8.5 billion17.43n/a12.2%15.8%n/a6.2%
UGI Corp. UGI$8.1 billion12.5612.9%16.2%-0.5%1.354.0%
Clearway Energy, Inc. CWEN$7.1 billionn/a-1.7%14.0%21.2%1.675.3%
National Fuel Gas Co. NFG$7.1 billion10.3717.2%40.3%15.1%0.912.9%
Southwest Gas Holdings, Inc. SWX$6.7 billionn/an/an/an/a0.862.7%
Black Hills Corp. BKH$6.7 billion20.938.0%24.3%2.8%1.133.2%
Txnm Energy Inc. TXNM$6.4 billion28.026.3%24.4%10.0%1.652.9%
Ormat Technologies, Inc. ORA$5.7 billion42.955.1%16.7%28.6%0.600.5%
New Jersey Resources Corp. NJR$5.5 billion15.1213.9%24.8%6.4%1.403.5%
Portland General Electric Co. POR$5.5 billion19.706.3%14.4%1.2%1.164.6%
Spire Inc. SR$5.3 billion9.9615.3%19.7%4.1%2.033.6%
NorthWestern Energy Group, Inc. NWE$5.2 billion32.055.7%18.1%10.1%1.273.1%
One Gas, Inc. OGS$5.2 billion17.548.3%21.1%-1.9%1.003.3%
Archrock, Inc. AROC$4.9 billion14.3821.4%n/a3.7%1.473.2%
Kodiak Gas Services, Inc. KGS$4.3 billion24.717.5%31.0%14.5%1.264.6%
MDU Resources Group Inc. MDU$4.1 billion20.736.5%17.1%-0.7%0.872.9%
American States Water Co. AWR$3.6 billion24.6112.6%32.2%11.1%0.792.3%
Chesapeake Utilities Corp. CPK$3.4 billion22.199.0%27.2%13.9%1.042.0%
Avista Corp. AVA$3.4 billion13.498.7%18.9%-1.4%1.194.9%
Fervo Energy Co. FRVO$3.4 billionn/a-4.6%-28,809.1%n/a0.11n/a
Otter Tail Corp. OTTR$3.3 billion19.049.2%15.2%0.0%0.652.8%
California Water Service Group CWT$3.1 billion22.357.2%19.4%4.8%0.862.6%
MGE Energy Inc. MGEE$3.0 billion18.3910.9%22.5%8.0%0.632.3%
H2O America HTO$3.0 billion24.334.8%20.7%4.2%0.952.8%
Centuri Holdings, Inc. CTRI$2.3 billion40.296.0%3.1%31.5%0.90n/a
Northwest Natural Holding Co. NWN$2.2 billion17.198.3%22.9%3.2%1.843.8%
NGL Energy Partners LP NGL$2.0 billionn/an/a1.9%18.0%n/an/a
NextDecade Corp. NEXT$1.7 billionn/a-83.8%n/an/a107.19n/a
Hawaiian Electric Industries Inc. HE$1.6 billion6.8912.8%10.5%13.6%1.28n/a
Excelerate Energy, Inc. EE$1.2 billion25.742.1%23.8%16.2%0.460.9%
Middlesex Water Co. MSEX$1.1 billion21.219.5%30.5%8.9%0.802.5%
Unitil Corp. UTL$1.0 billion18.148.6%18.6%21.1%1.543.4%
New Fortress Energy Inc. NFE$1.0 billionn/an/a-84.3%-36.9%n/an/a
Xplr Infrastructure, LP XIFR$672 million4.481.4%6.4%-1.1%0.57n/a
York Water Co. YORW$514 million19.088.5%37.9%13.7%0.652.9%
Genie Energy Ltd. GNE$501 million17.5610.9%5.2%1.7%0.031.6%
Hallador Energy Co. HNRG$479 millionn/a-15.7%-1.0%-6.6%2.81n/a
Consolidated Water Co. Ltd. CWCO$419 million33.155.7%9.7%-5.7%0.002.1%
Clean Energy Fuels Corp. CLNE$402 millionn/a-13.6%-4.0%6.3%0.39n/a
Artesian Resources Corp. ARTNA$348 million14.779.2%25.0%5.9%0.723.7%
Summit Midstream Corp. SMC$322 millionn/a1.0%15.8%17.6%2.05n/a
Cadiz Inc. CDZI$279 millionn/a-789.7%-236.1%-21.3%18.65n/a
Pure Cycle Corp. PCYO$264 million17.989.7%37.7%22.9%0.09n/a
RGC Resources Inc. RGCO$239 million17.1311.4%17.3%13.8%1.213.7%
Global Water Resources, Inc. GWRS$208 million77.112.6%12.6%9.8%1.414.3%
Montauk Renewables, Inc. MNTK$169 million23.603.0%0.6%4.3%0.57n/a
Stabilis Solutions, Inc. SLNG$71 millionn/a-15.0%-19.4%-30.3%0.14n/a
Ocean Power Technologies, Inc. OPTT$4 millionn/an/a-1,088.8%-25.8%1.17n/a
13 companies share its SEC industry code (Natural Gas Transmission); the rest are the names nearest in size in its wider industry, Utilities, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Annual reports on EDGAR

FormYear toFiled
20-F31 March 20263 June 2026EDGAR
20-F31 March 202529 May 2025EDGAR
20-F31 March 202423 May 2024EDGAR
20-F31 March 20236 June 2023EDGAR
20-F31 March 20227 June 2022EDGAR
20-F31 March 20218 June 2021EDGAR
20-F31 March 202025 June 2020EDGAR
20-F31 March 20194 June 2019EDGAR
20-F30 March 20184 June 2018EDGAR
20-F/A31 March 201717 July 2017EDGAR
20-F31 March 20176 June 2017EDGAR
20-F31 March 20167 June 2016EDGAR