National Grid Plc (NYSE:NGG) recently announced full-year results for 2025. Let's see how the company has performed this year.

National Grid PLC (NYSE:NGG) is the largest electricity distribution network in the UK, serving nearly 8 million customers in the country. The company also operates in the U.S., providing electricity, gas and clean energy to more than 20 million people in New York and Massachusetts.

National Grid Plc (NYSE:NGG) recently released its fiscal 2025 results, reporting base earnings per share of 73.3 pence, up 2% from the previous year and the year before the guidance, with its underlying operating profit growing, far exceeding the increase in shares after the rights issue. Additionally, the company's record £9.8 billion capital investment helped to increase regulatory assets by 10.5%. However, revenues fell 7% to £18.38 billion. NGG's continued operations generated cash flow from £7 billion during the year, £300 million lower than last year, mainly due to bad times moving.

National Grid Plc (NYSE:NGG) also announced a total dividend of 46.72p for its shareholders, with dividends rising by 3.21% last year. As of the end of fiscal 2025, the company had £18 billion of allocable reserves, enough to cover the forecast dividend for more than five years.

National Grid Plc (NYSE:NGG) has designated hundreds of billions of pounds of capital expenditure in the coming years to upgrade the UK's power grid system, and recently raised £7 billion through a stake provided by investors to fund its growth and strengthen its balance sheet.

John Pettigrew, CEO of National Grid Plc (NYSE: NGG) said:

“We have made significant progress in the first year of the five-year financial framework, with record capital investments of nearly £10 billion, up 20% from 2024, helping to drive the growth of regulated assets this year by about 10%. Strong performance across the business is based on our successful investment plan, successfully investing in five years in five years, amid uncertainties in the international economic situation, and we can predict stable stability through stable stability. We can improve stable stability by ensuring, affordable and clean energy for our customers and communities and providing long-term value and returns for our shareholders.”

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