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National Grid Plc's Competitiveness

Name: National Grid Plc Competitors and Peer Comparison
Creator: CSIMarket
License: https://csimarket.com/help/terms-of-use

A competitive positioning analysis and financial ratio benchmarking of National Grid Plc (NG) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.

Peer Data As of Q2 2026

Competitors

Named by the company

Peer Group Market Share

Share of combined sales, Q2 2026

Revenue Growth Y/Y

Peers: 14.06 %

Net Margin

Peers: 29.61 %

Key Findings: National Grid Plc vs Its Competitors

TTM: Trailing 12-month revenue of 17,687M vs 75,499M combined for its competitors (19.0% combined share).
Scale: National Grid Plc ranks #40 of 155 companies by market capitalization in the Metal Mining industry, holding 0.2% of industry market cap.
Peer differentiation: Revenue per employee of $235.83M compares with $1.13M for the peer group (208.5x).

Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).

API endpoints for this dataset

https://api.csimarket.com/api/v1/companies/NG/competitors

https://api.csimarket.com/api/v1/companies/NG/relationships

https://api.csimarket.com/api/v1/companies/NG/similar

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National Grid Plc vs. its Competitors, Q2 2026

TTM net margin

National Grid Plc +18.3 %

Competitors combined +29.1 %

TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in National Grid Plc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.

Competitor Financial Benchmarking - TTM Commercial

TTM revenue, latest-quarter run-rate and net income/margin benchmarked across National Grid Plc and its 4 competitor groupings. Available under Commercial License.

Entity	TTM Revenue	Latest Q ×4	Rev Run-rate vs TTM	TTM Net Income	TTM Net Margin
National Grid Plc	$12,345M	$12,345M	+12.3% · Accelerating	$1,234M	12.3%
Competitors combined	$12,345M	$12,345M	+12.3% · Accelerating	$1,234M	12.3%
Similar-Size Competitors (4)	$12,345M	$12,345M	+12.3% · Accelerating	$1,234M	12.3%

Competitor Financial Benchmarking

TTM revenue, run-rate and net margin benchmarking across National Grid Plc's competitor groups requires a Commercial License.

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National Grid Plc's Competitor Quality Breadth

Group definitions: see Methodology: Performance Group Definitions.

Entity	Profitable	Expanding	Above Industry Growth	Distressed
National Grid Plc	Yes	-	-	No
Competitors combined (30)
Similar-Size Competitors (10)

Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.

NG Stock Performance relative to its Competitors

NG Competitors (weighted) Percent change over the selected range

National Grid Plc's Share Price Performance vs Peer Groups

Trailing 12-month total share price return, and the share of each group that outperformed the U.S.A. 500 over the same period. Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC.

Competitors Combined
(11 of 24)

Similar-Size
(6 of 10)

Entity	TTM Share Price Return (group: median)	vs U.S.A. 500
National Grid Plc	-13.70 %	Underperformed
Competitors combined (24)	40.4%	63.2%
High-Confidence Competitors (0)	40.4%	63.2%
Similar-Size Competitors (10)	40.4%	63.2%
Similar Growth & Profitability (0)	40.4%	63.2%

Peer Group Share Price Returns

TTM share price return and U.S.A. 500 outperformance for National Grid Plc's competitor groups requires a Commercial License.

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Source: CSIMarket API (daily market-structure computation). Outperformance is trailing-12-month total return vs the U.S.A. 500 over the same window, not risk-adjusted.

NG Stock Performance relative to Similar-Size Competitors

NG Similar-Size Competitors (equal-weighted, 10) Percent change over the selected range

5 Best-Performing Tracked Competitors, Trailing 12 Months

#	Competitor	TTM Share Price Return	vs U.S.A. 500
1	Star Gold Corp	282.9%	Outperformed
2	Gold Resource Corp	282.9%	Outperformed
3	Augusta Gold Corp	282.9%	Outperformed
4	Vista Gold Corp	282.9%	Outperformed
5	Royal Gold Inc	282.9%	Outperformed

Best-Performing Competitor Returns

TTM share price return and U.S.A. 500 outperformance for National Grid Plc's best-performing competitors requires a Commercial License.

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Source: CSIMarket API, trailing 12 months.

National Grid Plc's Comment on Competition and Industry Peers

We compete with other mineral resource exploration and development companies for financing, technical expertise and the acquisition of mineral properties. Many of the companies with whom we compete have greater financial and technical resources. Accordingly, these competitors may be able to spend greater amounts on the acquisition, exploration and development of mineral properties. This competition could adversely impact our ability to finance further exploration and to obtain the financing necessary for us to develop our mineral properties.

Publicly Traded Peers of National Grid Plc

Revenue and income for trailing 12 months, in millions of $, except employees

Company	Market Cap	Revenues	Income	Employees
National Grid Plc	-	17,687.00	3,243.00	75
Southern Copper Corp	149,221.62	17,106.80	6,375.00	16,617
Newmont Corporation	133,413.94	26,606.00	9,401.00	17,500
Freeport mcmoran Inc	89,757.29	26,442.00	4,517.00	29,000
Royal Gold Inc	23,628.07	1,759.75	840.41	39
Coeur Mining Inc	16,974.93	3,171.20	850.41	2,620
SUBTOTAL	435,713.29	94,891.04	25,498.24	68,321

25 more competitors available

Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on: November 9, 2026
Focus of this report: publicly traded companies. Ten additional tables on National Grid Plc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.

National Grid Plc's Competitors Named by the Company

Competitive relationships identified from National Grid Plc reports and corroborating sources, each with a basis and confidence.

Competitor	Basis	Confidence	Active	Sources
View Inc	Company report	85%	2022 to 2026	3

Competitor Evidence Detail

Company report basis, confidence, active dates and source counts for National Grid Plc's named competitors require a Commercial License.

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Methodology: see Methodology: Peer & Competitor Identification, Sourcing.

National Grid Plc's Business Segment Mix vs Peers

Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).

Company	Largest Segment	2nd Segment	3rd Segment
Southern Copper Corp	Reportable subsegments 100.00 %	Mexican Open Pit 59.08 %	Intersubsegment Eliminations -1.56 %
Freeport mcmoran Inc	Rod and Refining 33.08 %	Cerro Verde 22.15 %	Grasberg 17.20 %
Royal Gold Inc	Stream Interests 66.67 %	Stream interest 66.67 %	Royalty Interests 33.33 %
Hecla Mining Company	Member 73.21 %	Keno Hill 0.46 %	-
Gold Resource Corp	Oaxaca Mexico Segment 100.00 %	-	-

Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).

2 more Peers available

National Grid Plc's Productivity vs Peers Comparison

Revenue and income per employee, trailing 12 months, in $; market cap in millions of $

Company	Market Cap	Revenue / Employee	Income / Employee
National Grid Plc	-	235,826,667	43,240,000
Southern Copper Corp	149,222	1,029,476	383,643
Newmont Corporation	133,414	1,520,343	537,200
Freeport mcmoran Inc	89,757	911,793	155,759
Royal Gold Inc	23,628	45,121,897	21,548,897
Coeur Mining Inc	16,975	1,210,381	324,583
PEERS TOTAL	435,713	1,131,261	326,103

25 more Peers available

National Grid Plc's Geographic Revenue Exposure vs Peers

Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.

Company	Largest Market	2nd Market	3rd Market
Southern Copper Corp	Other European Countries 5.66 %	Other Asian countries 1.22 %	-
Coeur Mining Inc	Canada 36.06 %	United States 34.05 %	Mexico 29.89 %
Verde Resources Inc	US 96.41 %	MY 3.59 %	-

Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.

National Grid Plc's Position in Industry Market Structure

Market-capitalization share and concentration across all 130 companies in National Grid Plc's industry classification, broader than the peer set above. Market cap in millions of $.

National Grid Plc ranks #40 of 130 companies by market capitalization in its industry, holding 0.19 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 731, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).

Rank	Company	Market Cap	Industry Share
1	Bhp Group Limited	208,750	15.75 %
2	Southern Copper Corp	147,619	11.14 %
3	Newmont Corporation	135,445	10.22 %
4	Rio Tinto Plc	107,980	8.15 %
5	Agnico Eagle Mines Limited	1,234	5.2%
6	Freeport mcmoran Inc	1,234	5.2%
7	Wheaton Precious Metals Corp	1,234	5.2%
8	Franco nevada Corporation	1,234	5.2%
9	Anglogold Ashanti Plc	1,234	5.2%
10	Gold Fields Limited	1,234	5.2%
40	National Grid Plc	2,535	0.19 %

Full Industry Market Structure

Market cap and industry share for the rest of National Grid Plc's industry peers requires a Commercial License.

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Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-09.

National Grid Plc's Same-Size Peers & Stock Performance

Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.

Rank	Company	Market Cap	TTM Return	3M Momentum	Beta	Sharpe (1Y)
35	Uranium Energy Corp	3,512	-40.67 %	-35.33 %	1.79	-0.37
36	Fortuna Mining Corp	3,346	25.19 %	-6.37 %	1.21	0.52
37	Ero Copper Corp	3,192	41.37 %	-9.32 %	1.69	0.67
38	Seabridge Gold Inc	2,801	24.43 %	-17.18 %	1.31	0.60
39	Perpetua Resources Corp	1,234	12.3%	4.5%	1.10	0.80
40	National Grid Plc	2,535	-13.71 %	-14.80 %	1.53	0.30
41	Taseko Mines Limited	1,234	12.3%	4.5%	1.10	0.80
42	Endeavour Silver Corp	1,234	12.3%	4.5%	1.10	0.80
43	Denison Mines Corp	1,234	12.3%	4.5%	1.10	0.80
44	Silvercorp Metals Inc	1,234	12.3%	4.5%	1.10	0.80
45	Usa Rare Earth Inc	1,234	12.3%	4.5%	1.10	0.80

Full Same-Size Peer Performance

Market cap, return, momentum, beta and Sharpe ratio for the rest of National Grid Plc's same-size peers requires a Commercial License.

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Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-09. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.

National Grid Plc's Profitability & Cost Structure

Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Metal Mining industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (111 companies). See the full Metal Mining industry profitability benchmarks.

Metric	Company	Industry	Difference
Gross Margin	0.00 %	28.55 % (avg)	-28.5 pp
Operating Margin	30.71 %	industry median	+2.9 pp
EBITDA Margin	18.34 %	21.74 % (avg)	-3.4 pp
Capital Intensity (Capex / Revenue)	56.48 %	15.47 % (avg)	+41.0 pp

Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.

National Grid Plc's Valuation vs Competitive Position

Valuation multiples vs the Metal Mining industry average (111 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Metal Mining industry valuation benchmarks.

Metric	Company	Industry Average	Difference
P/E	-	23.9x	-
EV / EBITDA	-12.4x	14.6x	-27.0x
P/B	0.1x	3.4x	-3.2x
Return on Equity	8.25 %	industry aggregate	-9.58 %
Return on Invested Capital	8.25 %	6.16 % (avg)	2.09 %

Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.

National Grid Plc's Multi-Year Financial Trajectory

Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.

Metric	2022	2023	2024
Revenue Growth	-	17.40 %	-
Operating Margin	-0.26 %	-0.19 %	-
Return on Invested Capital	-	-	-
P/E	-	-	-

Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.

National Grid Plc's BCG Growth-Share Matrix

See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.

National Grid Plc falls in the Question Mark quadrant: relative market share of 0.01x vs its largest competitor, in an industry growing revenue 30.1% (median, trailing 12 months).

Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.

National Grid Plc's Competitive Forces (Porter's Five Forces)

Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.

Force	Assessment	Basis
Competitive Rivalry	High	Industry HHI of 731 (see Industry Market Structure & Concentration above)
Barriers to Entry	High (capital intensive)	Capital intensity (capex / revenue) of 56.48 % vs industry average 15.47 % (see Profitability & Cost Structure above)

Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on National Grid Plc's dedicated Suppliers and Customers pages, not here.

National Grid Plc's Industry Attractiveness & Competitive Strength

See Methodology: GE/McKinsey Matrix for how the two axes are built.

High Strength

Medium Strength

Low Strength

High Attractiveness

Invest / Grow

Selective

Medium Attractiveness

Invest / Grow

Selective

Harvest National Grid Plc

Low Attractiveness

Selective

Harvest

Harvest / Divest

National Grid Plc falls in the Medium attractiveness / Low strength cell: Harvest.

Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.

National Grid Plc's SWOT

Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.

Strengths

No rule matched.

Weaknesses

Return on equity 9.6 points below the industry aggregate.
Underperforming the U.S.A. 500 over the trailing 12 months.
Low relative market share vs the industry leader (0.01x).

Opportunities

Industry revenue growing at a healthy 30.1% median pace.
A meaningful share of competitors (30.00 %) show financial-distress signals, a possible opening to gain share.

Threats

High capital intensity requires continuous reinvestment just to keep pace with the industry.

Methodology: see Methodology: SWOT Analysis.

National Grid Plc's Financial Strength vs Peers Comparison

Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months

Company	Quick Ratio	Working Capital	Debt / Equity	Asset Turnover
National Grid Plc	-	-	-	0.16
Southern Copper Corp	2.19	4.40	0.60	0.74
Newmont Corporation	1.56	2.43	0.15	0.46
Freeport mcmoran Inc	0.64	2.17	0.32	0.44
Royal Gold Inc	1.59	2.94	0.07	0.19
Coeur Mining Inc	1.65	3.07	0.00	0.32

25 more Peers available

Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.

National Grid Plc's Revenue and Income Growth vs Peers

Quarterly revenue and net income growth, year over year and quarter over quarter

Company	Period	Revenue Y/Y	Revenue Q/Q	Income Y/Y	Income Q/Q
National Grid Plc	Q2 2026	-	-	+11.6 %	+11.6 %
Southern Copper Corp	Q3 2026	+39.1 %	+9.5 %	+62.7 %	+7.9 %
Newmont Corporation	Q3 2026	+15.2 %	+4.0 %	+34.3 %	+10.0 %
Freeport mcmoran Inc	Q3 2026	+8.2 %	+7.4 %	+74.2 %	-15.6 %
Royal Gold Inc	Q3 2026	+84.4 %	+3.2 %	+72.5 %	-4.3 %
Coeur Mining Inc	Q2 2026	+125.9 %	+26.8 %	+72.3 %	-50.6 %
PEERS TOTAL		+126.4 %	+98.1 %	+33.6 %	+1.9 %

25 more Peers available

Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.

National Grid Plc's Peers' Costs of Sales and Capital Expenditures

Context for revenue growth: peer costs and capex, year over year and quarter over quarter

Company	Period	Costs Y/Y	Costs Q/Q	Capex Y/Y	Capex Q/Q
National Grid Plc	Q2 2026	-	-	+13.8 %	+13.8 %
Southern Copper Corp	Q3 2026	+17.9 %	+15.1 %	+47.7 %	+22.0 %
Newmont Corporation	Q3 2026	+9.8 %	+2.6 %	+17.7 %	+19.1 %
Freeport mcmoran Inc	Q3 2026	+3.5 %	+3.2 %	-	-
Royal Gold Inc	Q3 2026	+98.5 %	+3.7 %	-99.9 %	-98.0 %
Coeur Mining Inc	Q2 2026	+408.9 %	+253.8 %	+106.7 %	+69.7 %

25 more Peers available

National Grid Plc's Returns and Turnover vs Peers

ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover

Company	ROA	ROI	ROE	Receivables Turnover	Inventory Turnover
National Grid Plc	2.99%	12.25%	8.25%	-	-
Southern Copper Corp	27.41%	29.78%	51.76%	8.23	5.76
Newmont Corporation	16.31%	18.67%	26.78%	27.70	5.80
Freeport mcmoran Inc	7.58%	6.94%	14.10%	32.50	17.02
Royal Gold Inc	8.88%	8.37%	11.18%	-	7.87
Coeur Mining Inc	8.57%	10.48%	12.49%	42.48	6.17

25 more Peers available

ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).

National Grid Plc's Valuation vs Peers

P/E, price to sales, PEG, price to cash flow and price to book

Company	P/E	Price / Sales	PEG	P/CF	Price / Book
National Grid Plc	-	-	-	-	-
Southern Copper Corp	23.33	8.72	0.31	170.73	10.98
Newmont Corporation	14.86	5.01	0.16	41.64	3.72
Freeport mcmoran Inc	26.04	3.39	0.27	846.77	2.67
Royal Gold Inc	27.56	13.43	0.41	2,021.39	3.04
Coeur Mining Inc	13.34	5.35	-	18.01	1.63
PEERS AVERAGE	17.09	4.59		72.50	3.01

25 more Peers available

P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.