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National GridCHIX:NGL -0.51%73 EV-to-EBITDA is 13.02 as of Jul. 29, 2026, which is 6% above its 10-year median of 12.27. GuruFocus rates CHIX:NGL with a GF Score™ of 73/100 and a GF Value™ of £7.51 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 467 Utilities - Regulated companies, National Grid ranks worse than 69.81% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, National Grid's enterprise value is £105,184 Mil.
National Grid's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was £8,078 Mil. Therefore, National Grid's EV-to-EBITDA for today is 13.02.
The historical rank and industry rank for National Grid's EV-to-EBITDA or its related term are showing as below:
CHIX:NGl'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 9.51 Med: 12.27 Max: 17
Current: 13.02
During the past 13 years, the highest EV-to-EBITDA of National Grid was 17.00. The lowest was 9.51. And the median was 12.27.
CHIX:NGl's EV-to-EBITDA is ranked worse than 69.81% of 467
companies
in the Utilities - Regulated industry
Industry Median: 10.03
vs CHIX:NGl: 13.02
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
National Grid (CHIX:NGl) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
National Grid's PE Ratio (TTM) for today is calculated as:
National Grid's share price for today is £12.215.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. National Grid's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was £0.654.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for National Grid's EV-to-EBITDA 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.
For the Utilities - Regulated Electric subindustry, National Grid's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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-EBITDA vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, National Grid's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where National Grid's EV-to-EBITDA falls into.
National Grid's current Enterprise Value is £105,184 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. National Grid's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was £8,078 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.
National Grid (CHIX:NGL) has a EV-to-EBITDA of 13.02 as of Jul. 29, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on National Grid. This is near median its historical median of 12.27. Over the past decade, National Grid's EV-to-EBITDA has ranged from 9.51 to 17.00. According to the industry distribution chart, National Grid ranks #326 out of 467 companies in the Utilities - Regulated industry, placing it in the top 69.8%.
Is National Grid's EV-to-EBITDA too high?
National Grid's current EV-to-EBITDA of 13.02 is near median its 10-year median of 12.27. Over the past 10 years, this metric has ranged from a low of 9.51 to a high of 17.00. The Utilities - Regulated industry median EV-to-EBITDA is 10.03. National Grid's value of 13.02 is 29.8% above this industry median. Based on the distribution chart, National Grid ranks #326 out of 467 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, National Grid has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Grid's EV-to-EBITDA compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, National Grid ranks #326 out of 467 companies for EV-to-EBITDA. This places National Grid in the lower half of its industry. The industry median EV-to-EBITDA is 10.03. National Grid's value of 13.02 is 29.8% above this benchmark. Historically, National Grid's own EV-to-EBITDA has ranged from 9.51 to 17.00 over the past decade. While the company's 10-year median is 12.27 vs. the industry median of 10.03, National Grid has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for an Utilities - Regulated company?
The median EV-to-EBITDA among Utilities - Regulated companies is 10.03, based on 467 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Grid's current EV-to-EBITDA of 13.02 is 29.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on National Grid. For the Utilities - Regulated industry, the median EV-to-EBITDA is 10.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Grid's current EV-to-EBITDA is 13.02, which is near median its own 10-year median of 12.27. 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 (CHIX:NGL) is currently considered Significantly Overvalued. The stock's GF Value™ is £7.51, compared to a current price of £12.22 — trading 62.6% above its estimated fair value. The current EV-to-EBITDA is 13.02, which is near median its 10-year median of 12.27 and 29.8% above the Utilities - Regulated industry median of 10.03. National Grid's overall GF Score™ is 73/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For National Grid (CHIX:NGL), the current EV-to-EBITDA is 13.02 as of Jul. 29, 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 (CHIX:NGL) Overvalued in 2026?
Based on GuruFocus' analysis, National Grid stock appears to be overvalued.
The current stock price of £12.22 is trading 62.6% above its estimated GF Value™ of £7.51.
GuruFocus considers National Grid to be Significantly Overvalued.
Key valuation signals for CHIX:NGL:
EV-to-EBITDA: 13.02 (near median its 10-year median of 12.27)
GF Value™: £7.51 vs. price of £12.22 (62.6% above fair value)
Industry Position: 29.8% above the Utilities - Regulated median (#326 of 467)
No single metric tells the full story. See the CHIX:NGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
73GF Score
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