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NGG

National Grid plc

Utilities · $75.9B market cap

Verdict

Share price

$76.12

close of Oct 3, 2026

Fair value

$55.60

Sticker Price

Payback Price

$22.24

buy price

Overpriced

NGG is Overpriced: at $76.12 it trades 37% above its fair value of $55.60. Its buy price (Payback Price) is $22.24, 71% below today's price. Business quality is limited: only 1 of 5 key numbers clears the 10% bar.

How we valued it

Buffett Normalized. A profitable, growing business, so we project its earnings 10 years ahead and work out what that is worth today.

Business quality

1 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth4.3% a year✗
Equity per share growth9.5% a year✗
Sales growth2.5% a year✗
Free cash flow growth10.6% a year✓
Return on invested capital3.9%✗

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Superinvestors

1 of the investors we track holds NGG. In Q1 2026, 1 trimmed. Who we track

Sarah Ketterer

Causeway Capital Management · as of Q2 2026

$48.9M

590,240 shares

Moves in Q1 2026

Trimmed: Sarah Ketterer

About National Grid plc

National Grid plc engages in the transmission and distribution of electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission networks in England and Wales. The UK Electricity Distribution segment offers electricity distribution services…

Regulated Electric

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works