National Grid (NGG) Gross Margin (2015 - 2025)
National Grid (NGG) posted Gross Margin of 22.42% for Q3 2025, up 28.41% on a QoQ basis from 17.46% in Q3 2024, and up 496.0% year-over-year from 3.76% in Q3 2024.
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Analysis
National Grid (NGG) Gross Margin (2015 - 2025) Analysis & Trends
National Grid has reported Gross Margin for 6 years, with the latest figure at 22.42% in Q3 2025.
- On a quarterly basis, Gross Margin rose 496.0% year-over-year to 22.42% in Q3 2025; TTM through Sep 2025 was 22.81%, a 171.0% decrease from a year earlier, with the FY2026 full-year figure at 29.32%, up 138.0% from the prior year.
- Gross Margin was 22.42% for Q3 2025 at National Grid, up from 17.46% in the prior quarter.
- The five-year high for Gross Margin was 46.77% in Q4 2022, with the low at 17.46% in Q3 2024.
- Average Gross Margin over 4 years is 31.1%, with a median of 24.31% recorded in 2023.
- The sharpest annual moves came in 2024 and 2025: Gross Margin slumped 685 bps in 2024, then surged 496 bps in 2025.
- Over 4 years, Gross Margin stood at 46.77% in 2022, then plunged by 48 bps to 24.31% in 2023, then dropped by 28 bps to 17.46% in 2024, then grew by 28 bps to 22.42% in 2025.
- The last three Gross Margin figures came in at 22.42% (Q3 2025), 17.46% (Q3 2024), and 24.31% (Q3 2023), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enel Chile | 306.41 Bn | 306.41 Bn | 890.00 Mn | 39.24% |
| 2 | National Grid | 79.91 Bn | 76.14 Bn | - | - |
| 3 | Dominion Energy | 54.94 Bn | 58.84 Bn | 3.50 Bn | 78.04% |
| 4 | Xcel Energy | 44.99 Bn | 42.98 Bn | 3.12 Bn | 99.94% |
| 5 | Wec Energy | 33.53 Bn | 33.88 Bn | 1.45 Bn | 70.07% |
| 6 | Ameren | 28.13 Bn | 28.25 Bn | - | - |
| 7 | Fortis | 27.32 Bn | 28.61 Bn | 1.60 Bn | 75.47% |
| 8 | American Water Works Company | 26.60 Bn | 26.40 Bn | 874.00 Mn | 64.50% |
| 9 | Atmos Energy | 26.60 Bn | 26.07 Bn | - | - |
| 10 | Firstenergy | 25.89 Bn | 27.19 Bn | 2.51 Bn | 68.33% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 22.42% |
| Sep 30, 2024 | 17.46% |
| Sep 30, 2023 | 24.31% |
| May 18, 2023 | 44.51% |
| Dec 31, 2022 | 46.77% |
| Mar 31, 2016 | 71.72% |
| Dec 31, 2015 | 59.26% |
API Access
National Grid Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=NGG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "NGG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=NGG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();