NGGTF (National Grid) EBIT: $7,805 Mil (TTM As of Mar. 2026)


NGGTF National Grid PLC NGGTF
74 GF Score
Price $16.56
GF Value $9.67
Valuation Significantly Overvalued
! 5 Warning Signs
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What is National Grid EBIT?

National Grid NGGTF +4.54% 74 EBIT is $7,805 Mil as of Mar. 2026. GuruFocus rates NGGTF with a GF Score™ of 74/100 and a GF Value™ of $9.67 (Significantly Overvalued). The stock has 5 warning signs investors should review.

National Grid's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2026 was $5,495 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $7,805 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. National Grid's annualized ROC % for the quarter that ended in Mar. 2026 was 6.18%. National Grid's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 10.37%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. National Grid's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 5.47%.

National Grid  (OTCPK:NGGTF) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

National Grid's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=10866.666 * ( 1 - 21.78% )/( (134549.999 + 140705.334)/ 2 )
=8499.9061452/137627.6665
=6.18 %

where

Invested Capital(Q: Sep. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=140216.216 - 6014.865 - ( 5485.135 - max(0, 12412.162 - 12063.514+5485.135))
=134549.999

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=144374.667 - 6752 - ( 3770.667 - max(0, 13062.667 - 9980+3770.667))
=140705.334

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

National Grid's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=10989.334/( ( (103168.919 + max(-936.486, 0)) + (108693.333 + max(-2240.001, 0)) )/ 2 )
=10989.334/( ( 103168.919 + 108693.333 )/ 2 )
=10989.334/105931.126
=10.37 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3824.324 + 866.216 + 1887.839) - (6014.865 + 0 + 1500)
=-936.486

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4121.333 + 745.333 + 756) - (6752 + 0 + 1110.667)
=-2240.001

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

National Grid's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=7805.478/142631.949
=5.47 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

National Grid EBIT Related Terms

National Grid EBIT Historical Data

* Premium members only.

The historical data trend for National Grid's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

National Grid EBIT Chart

National Grid Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6,057.97 6,395.63 6,062.26 7,054.26 7,774.67

National Grid Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3,260.48 2,096.56 5,006.46 2,310.81 5,494.67

NGGTF vs NEE, SO, DUK: EBIT Comparison

For the Utilities - Regulated Electric subindustry, National Grid's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

National Grid EV-to-EBIT vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, National Grid's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where National Grid's EV-to-EBIT falls into.


NGGTF
74GF Score
National Grid PLC NGGTF
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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National Grid EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was $7,805 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $7,805 Mil mean?
National Grid (NGGTF) has a EBIT of $7,805 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on National Grid.
Is National Grid's EBIT too high?
National Grid's current EBIT is $7,805 Mil. Overall, National Grid has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Grid's EBIT compare to NEE and SO?
National Grid's EBIT of $7,805 Mil can be compared against companies in the Utilities - Regulated industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Utilities - Regulated company?
A good EBIT depends on the Utilities - Regulated industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on National Grid. National Grid's current EBIT is $7,805 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Grid stock overvalued right now?
Based on GuruFocus' analysis, National Grid (NGGTF) is currently considered Significantly Overvalued. The stock's GF Value™ is $9.67, compared to a current price of $16.56 — trading 71.2% above its estimated fair value. The current EBIT is $7,805 Mil. National Grid's overall GF Score™ is 74/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For National Grid (NGGTF), the current EBIT is $7,805 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is National Grid (NGGTF) Overvalued in 2026?

Based on GuruFocus' analysis, National Grid stock appears to be overvalued. The current stock price of $16.56 is trading 71.2% above its estimated GF Value™ of $9.67. GuruFocus considers National Grid to be Significantly Overvalued.

Key valuation signals for NGGTF:

  • EBIT: $7,805 Mil
  • GF Value™: $9.67 vs. price of $16.56 (71.2% above fair value)
  • GF Score™: 74/100 with 5 warning signs

No single metric tells the full story. See the NGGTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

National Grid Business Description

Address 1-3 Strand, London, GBR, WC2N 5EH
National Grid owns and operates the electric transmission system in England and Wales. It sold the bulk of its UK gas transmission business in fiscal 2023 to fund the acquisition of PPL's UK power distribution assets. In the Northeastern United States, it serves electricity and gas customers combined in three states. It also owns regulated transmission electricity networks in the United States, metering services and merchant transmission lines in the UK.
74GF Score

Get the complete analysis for NGGTF

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$16.56
Price
$9.67
GF Value