National Grid (CHIX:NGL) Total Operating Expense: £11,997 Mil (TTM As of Mar. 2026)


CHIX:NGL National Grid PLC CHIX:NGL
73 GF Score
Price £12.13
GF Value £7.48
Valuation Significantly Overvalued
! 4 Warning Signs
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What is National Grid Total Operating Expense?

National Grid CHIX:NGL -3.17% 73 Total Operating Expense is £11,997 Mil as of Mar. 2026. GuruFocus rates CHIX:NGL with a GF Score™ of 73/100 and a GF Value™ of £7.48 (Significantly Overvalued). The stock has 4 warning signs investors should review.

National Grid's Total Operating Expense for the six months ended in Mar. 2026 was £6,547 Mil. National Grid's Total Operating Expense for the trailing twelve months (TTM) ended in Mar. 2026 was £11,997 Mil.

National Grid Total Operating Expense Related Terms

National Grid Total Operating Expense Historical Data

* Premium members only.

The historical data trend for National Grid's Total Operating Expense 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 Total Operating Expense Chart

National Grid Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Total Operating Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7,975.00 8,154.00 9,912.00 8,781.00 8,417.00

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
Total Operating Expense 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 8,597.00 6,751.00 6,180.00 5,450.00 6,547.00
CHIX:NGL
73GF Score
National Grid PLC CHIX:NGL
Total Operating Expense is just one metric. See GF Score™, valuation, warning signs, and more.
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National Grid Total Operating Expense Calculation

Total Operating Expense is the primary recurring expense associated with central operations that are incurred in order to generate sales.


Total Operating Expense 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 £11,997 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.

What does a Total Operating Expense of £11,997 Mil mean?
National Grid (CHIX:NGL) has a Total Operating Expense of £11,997 Mil as of Mar. 2026. Total operating expense is the primary recurring expense associated with central operations. View historical data on National Grid and its competitors.
Is National Grid's Total Operating Expense too high?
National Grid's current Total Operating Expense is £11,997 Mil. 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 Total Operating Expense compare to NEE and SO?
National Grid's Total Operating Expense of £11,997 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 Total Operating Expense for an Utilities - Regulated company?
A good Total Operating Expense depends on the Utilities - Regulated industry context. However, Total Operating Expense 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 Total Operating Expense mean?
A high Total Operating Expense can signal that a stock is expensive relative to its fundamentals. Total operating expense is the primary recurring expense associated with central operations. View historical data on National Grid and its competitors. National Grid's current Total Operating Expense is £11,997 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 (CHIX:NGL) is currently considered Significantly Overvalued. The stock's GF Value™ is £7.48, compared to a current price of £12.13 — trading 62.1% above its estimated fair value. The current Total Operating Expense is £11,997 Mil. 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 Total Operating Expense calculated?
Total Operating Expense is calculated from a company's financial statements. For National Grid (CHIX:NGL), the current Total Operating Expense is £11,997 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 (CHIX:NGL) Overvalued in 2026?

Based on GuruFocus' analysis, National Grid stock appears to be overvalued. The current stock price of £12.13 is trading 62.1% above its estimated GF Value™ of £7.48. GuruFocus considers National Grid to be Significantly Overvalued.

Key valuation signals for CHIX:NGL:

  • Total Operating Expense: £11,997 Mil
  • GF Value™: £7.48 vs. price of £12.13 (62.1% above fair value)
  • GF Score™: 73/100 with 4 warning signs

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 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.
73GF Score

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

£12.13
Price
£7.48
GF Value