National GridCHIX:NGL -0.36%74 EV-to-FCF is -38.58 as of Jun. 29, 2026. GuruFocus rates CHIX:NGL with a GF Score™ of 74/100 and a GF Value™ of £7.53 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 298 Utilities - Regulated companies, National Grid ranks worse than 335570.13% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, National Grid's Enterprise Value is £105,930 Mil.
National Grid's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was £-2,746 Mil. Therefore, National Grid's EV-to-FCF for today is -38.58.
The historical rank and industry rank for National Grid's EV-to-FCF or its related term are showing as below:
CHIX:NGl'
s EV-to-FCF Range Over the Past 10 Years
Min: -468.26 Med: 61.41 Max: 13785.01
Current: -38.58
During the past 13 years, the highest EV-to-FCF of National Grid was 13785.01. The lowest was -468.26. And the median was 61.41.
CHIX:NGl's EV-to-FCF is ranked worse than 100% of 298
companies
in the Utilities - Regulated industry
Industry Median: 18.325
vs CHIX:NGl: -38.58
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 £12.5225.
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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
National Grid EV-to-FCF Related Terms
National Grid EV-to-FCF Historical Data
* Premium members only.
The historical data trend for National Grid's EV-to-FCF 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-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, National Grid's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where National Grid's EV-to-FCF falls into.
National Grid's current Enterprise Value is £105,930 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. National Grid's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was £-2,746 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-FCF of -38.58 as of Jun. 29, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on National Grid and its competitors. According to the industry distribution chart, National Grid ranks #999999 out of 298 companies in the Utilities - Regulated industry.
Is National Grid's EV-to-FCF too high?
National Grid's current EV-to-FCF is -38.58. Based on the distribution chart, National Grid ranks #999999 out of 298 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. 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 EV-to-FCF compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, National Grid ranks #999999 out of 298 companies for EV-to-FCF. This places National Grid in the lower half of its industry. The industry median EV-to-FCF is 18.33. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Utilities - Regulated company?
The median EV-to-FCF among Utilities - Regulated companies is 18.33, based on 298 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF 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 EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on National Grid and its competitors. For the Utilities - Regulated industry, the median EV-to-FCF is 18.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Grid's current EV-to-FCF is -38.58. 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 £7.53, compared to a current price of £12.52 — trading 66.3% above its estimated fair value. The current EV-to-FCF is -38.58. 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 EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For National Grid (CHIX:NGL), the current EV-to-FCF is -38.58 as of Jun. 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 £12.52 is trading 66.3% above its estimated GF Value™ of £7.53.
GuruFocus considers National Grid to be Significantly Overvalued.
Key valuation signals for CHIX:NGL:
EV-to-FCF: -38.58
GF Value™: £7.53 vs. price of £12.52 (66.3% above fair value)
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.
74GF Score
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