National Grid PLC
F:NNGD
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National Grid PLC
F:NNGD
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Intrinsic Value
The intrinsic value of 
National Grid PLC (NNGD) under the Base Case is 62.73 EUR per share.
Compared with the current market price of 74.5 EUR, the stock appears
Overvalued by 16% .
The intrinsic value is calculated using the DCF method.
Do our valuations actually work? See backtest results .
Cheap or expensive for this stock?
This block shows whether today’s valuation is cheap or expensive compared with the stock’s own history, and what happened after similar valuations in the past.
We compare the gap between the stock’s price and our estimated value over time.
- Undervalued can still be historically expensive. The stock may trade below our estimated value, but usually offer an even bigger discount.
- Overvalued can still be historically cheap. The stock may trade above our estimated value, but usually carry an even higher premium.
Market expectations can differ from our model, which may not fully capture everything affecting the price. That is why some stocks regularly trade above our estimated value and others below it.
The scale and chart show how today’s valuation compares with the past. The cards summarize past returns and waiting times until the stock stopped being cheap or expensive. This can happen because the price changed, our estimated value changed, or both.
Only completed periods are included. These are past results, not forecasts. The usual historical range does not necessarily mean fair value.
Fundamental Analysis
What National Grid Does
National Grid is a utility company that owns and runs the power and gas networks that move energy to homes and businesses. It does not mainly sell electricity or gas to end customers; instead, it builds, maintains, and operates the wires and pipelines that carry energy across large parts of the United Kingdom and the northeastern United States.
- Headquarters
- United Kingdom UK
- Employees
- 31 654
- IPO date
- Jan 31, 2002
National Grid has no economic moat
Regulated charges, rather than customer preference, determine what National Grid can earn from its networks. Its infrastructure is difficult to duplicate, but that protection does not give it freedom to set prices or keep all the benefits of lower costs.
Read the full moat analysis
Earnings Waterfall
National Grid PLC
The intrinsic value for National Grid PLC (NNGD) under the Base Case is 62.73 EUR.
Compared with the current market price of 74.5 EUR, the stock appears Overvalued by 16% .