National Grid (NEWEN) Operating Margin (2009 - 2025)

National Grid has reported Operating Margin for 11 years, with the latest figure at 21.6% in Q3 2025.

• On a quarterly basis, Operating Margin rose 516.0% year-over-year to 21.6% in Q3 2025; TTM through Sep 2025 was 40.41%, a 824.0% decrease from a year earlier, with the FY2026 full-year figure at 30.71%, up 386.0% from the prior year.
• Operating Margin was 21.6% for Q3 2025 at National Grid, up from 16.44% in the prior quarter.
• The five-year high for Operating Margin was 48.02% in Q4 2022, with the low at 16.44% in Q3 2024.
• Average Operating Margin over 4 years is 30.8%, with a median of 23.38% recorded in 2023.
• The sharpest annual moves came in 2024 and 2025: Operating Margin slumped 694 bps in 2024, then soared 516 bps in 2025.
• Over 4 years, Operating Margin stood at 48.02% in 2022, then slumped by 51 bps to 23.38% in 2023, then declined by 30 bps to 16.44% in 2024, then jumped by 31 bps to 21.6% in 2025.
• The last three Operating Margin figures came in at 21.6% (Q3 2025), 16.44% (Q3 2024), and 23.38% (Q3 2023), per Business Quant data.