National GridNGGTF +1.90%73 PS Ratio is 3.48 as of Jul. 03, 2026, which is 58% above its 10-year median of 2.20. GuruFocus rates NGGTF with a GF Score™ of 73/100 and a GF Value™ of $9.98 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 499 Utilities - Regulated companies, National Grid ranks worse than 80.76% on this metric.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. As of today, National Grid's share price is $16.582.
National Grid's Revenue per Share for the trailing twelve months (TTM) ended in Mar. 2026 was $4.77. Hence, National Grid's PS Ratio for today is 3.48.
The historical rank and industry rank for National Grid's PS Ratio or its related term are showing as below:
NGGTF'
s PS Ratio Range Over the Past 10 Years
Min: 1.58 Med: 2.2 Max: 3.79
Current: 3.48
During the past 13 years, National Grid's highest PS Ratio was 3.79. The lowest was 1.58. And the median was 2.20.
NGGTF's PS Ratio is ranked worse than 80.76% of 499
companies
in the Utilities - Regulated industry
Industry Median: 1.44
vs NGGTF: 3.48
National Grid PLC revenue per share has been in decline for the last 5 years.
During the past 12 months, the average Revenue per Share Growth Rate of National Grid was -8.40% per year.
During the past 3 years, the average Revenue per Share Growth Rate was -13.30% per year.
During the past 5 years, the average Revenue per Share Growth Rate was -1.80% per year.
During the past 10 years, the average Revenue per Share Growth Rate was 1.70% per year.
During the past 13 years, National Grid's highest 3-Year average Revenue per Share Growth Rate was 70.10% per year. The lowest was -14.20% per year. And the median was 0.30% per year.
Back to Basics: PS Ratio
National Grid (OTCPK:NGGTF) PS Ratio Explanation
The PS Ratio is an excellent valuation indicator if you want to compare a stock with its historical valuation or with the stocks in the same industry. The PS Ratio works especially well when you want to compare the stock's current valuation with its historical valuation. The PS Ratio is a great valuation tool for evaluating cyclical businesses where the PE Ratio works poorly. It works the best when comparing the current valuation with the historical valuation because over time, a company's profit margin tends to revert to the mean.
When the PS Ratio is applied to the whole stock market, it can be used to evaluate the current market valuation and projected returns. In this case, the price is the total market cap of all stocks that are traded, and sales are the GDP of the country. This is how Warren Buffett estimates the broad market valuation and project future returns.
The PS Ratio does not tell you how cheap or expensive the stock is. It cannot be used to compare companies in different industries. It works better for companies within the same industry because these companies tend to have similar capital structures and profit margins. It works the best when comparing a company with itself in the past.
National Grid PS Ratio Related Terms
National Grid PS Ratio Historical Data
* Premium members only.
The historical data trend for National Grid's PS Ratio 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 PS Ratio, along with its competitors' market caps and PS Ratio 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 PS Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, National Grid's PS Ratio distribution charts can be found below:
* The bar in red indicates where National Grid's PS Ratio falls into.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. It is a ratio widely used to value stocks and it was first used by Ken Fisher.
National Grid's Share Price of today is $16.582.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. National Grid's Revenue per Share for the trailing twelve months (TTM) ended in Mar. 2026 was $4.77.
* 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.
It can also be calculated from the numbers for the whole company:
National Grid (NGGTF) has a PS Ratio of 3.48 as of Jul. 03, 2026. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on National Grid and its competitors. This is 58% above median its historical median of 2.20. Over the past decade, National Grid's PS Ratio has ranged from 1.58 to 3.79. According to the industry distribution chart, National Grid ranks #403 out of 499 companies in the Utilities - Regulated industry, placing it in the top 80.8%.
Is National Grid's PS Ratio too high?
National Grid's current PS Ratio of 3.48 is 58% above median its 10-year median of 2.20. Over the past 10 years, this metric has ranged from a low of 1.58 to a high of 3.79. The Utilities - Regulated industry median PS Ratio is 1.44. National Grid's value of 3.48 is 141.7% above this industry median. Based on the distribution chart, National Grid ranks #403 out of 499 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. 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 PS Ratio compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, National Grid ranks #403 out of 499 companies for PS Ratio. This places National Grid in the lower half of its industry. The industry median PS Ratio is 1.44. National Grid's value of 3.48 is 141.7% above this benchmark. Historically, National Grid's own PS Ratio has ranged from 1.58 to 3.79 over the past decade. While the company's 10-year median is 2.20 vs. the industry median of 1.44, 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 PS Ratio for an Utilities - Regulated company?
The median PS Ratio among Utilities - Regulated companies is 1.44, based on 499 companies in the industry. Companies in the top quartile (top 25%) have a PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Grid's current PS Ratio of 3.48 is 141.7% 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 PS Ratio mean?
A high PS Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on National Grid and its competitors. For the Utilities - Regulated industry, the median PS Ratio is 1.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Grid's current PS Ratio is 3.48, which is 58% above median its own 10-year median of 2.20. 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 $9.98, compared to a current price of $16.58 — trading 66.2% above its estimated fair value. The current PS Ratio is 3.48, which is 58% above median its 10-year median of 2.20 and 141.7% above the Utilities - Regulated industry median of 1.44. National Grid's overall GF Score™ is 73/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PS Ratio calculated?
PS Ratio is calculated from a company's financial statements. For National Grid (NGGTF), the current PS Ratio is 3.48 as of Jul. 03, 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 $16.58 is trading 66.2% above its estimated GF Value™ of $9.98.
GuruFocus considers National Grid to be Significantly Overvalued.
Key valuation signals for NGGTF:
PS Ratio: 3.48 (58% above median its 10-year median of 2.20)
GF Value™: $9.98 vs. price of $16.58 (66.2% above fair value)
Industry Position: 141.7% above the Utilities - Regulated median (#403 of 499)
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 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
Get the complete analysis for NGGTF
PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NGGTF has been successfully added to your 
