CEG vs. NGG: Constellation Energy vs. National Grid Stock Comparison

June 25, 2026

How do Constellation Energy (CEG) and National Grid (NGG) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Constellation Energy (CEG) and National Grid (NGG) both fall under the Utilities industry group, but CEG is classified in Electric Utilities while NGG is classified in Multi-Utilities.

National Grid (NGG) has more than two decades of public-market history since August 10, 2005, whereas Constellation Energy (CEG) listed on January 19, 2022 and has a much shorter record to draw on.

Constellation Energy (CEG) trades as ordinary local shares, while National Grid (NGG) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Constellation Energy (CEG) and National Grid (NGG)
Profile Item	CEG	NGG
Name	Constellation Energy Corporation	National Grid plc Sponsored ADR
Country/Region	United States	United Kingdom
GICS Sector	Utilities	Utilities
GICS Industry Group	Utilities	Utilities
GICS Industry	Electric Utilities	Multi-Utilities
GICS Sub-Industry	Electric Utilities	Multi-Utilities
Market Capitalization	95.69 billion USD	82.43 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	January 19, 2022	August 10, 2005
Security Type	Common Stock	ADR

Performance

Cumulative Growth

CEG

NGG

Constellation Energy (CEG) vs. National Grid (NGG): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Constellation Energy (CEG) and National Grid (NGG). Returns over one year are annualized.

Performance at a Glance

Performance metrics for Constellation Energy (CEG) and National Grid (NGG)
Metric	CEG	NGG
Total Return (1Y)	-15.99%	17.71%

Risk

Drawdown

CEG

NGG

Constellation Energy (CEG) vs. National Grid (NGG): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Risk at a Glance

Risk metrics for Constellation Energy (CEG) and National Grid (NGG)
Metric	CEG	NGG
Volatility (1Y, Annualized)	46.63%	21.54%
Beta (5Y)	1.11	0.77
Avg. Volume (3M)	3.49M	1.27M

Profitability

ROE (TTM)

Constellation Energy (CEG) at 16.11% sits in the top ROE quartile, while National Grid (NGG) at 8.41% is closer to the peer norm — stronger capital efficiency for CEG.

CEG

Utilities industry group

16.11%

CEG: 16.11%
Max: 16.11%
Q3: 11.15%
Median: 9.46%
Q1: 7.50%
Min: 2.67%

NGG

Utilities industry group

8.41%

Max: 16.11%
Q3: 11.15%
Median: 9.46%
NGG: 8.41%
Q1: 7.50%
Min: 2.67%

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their ROE against the Utilities industry group benchmark.

Net Margin (TTM)

National Grid (NGG) at 18.32% retains a top-quartile share of revenue as profit, ahead of Constellation Energy (CEG) at 12.69%, which keeps about the industry-typical share.

CEG

Utilities industry group

12.69%

Max: 29.37%
Q3: 17.31%
CEG: 12.69%
Median: 12.55%
Q1: 9.24%
Min: -0.65%

NGG

Utilities industry group

18.32%

Max: 29.37%
NGG: 18.32%
Q3: 17.31%
Median: 12.55%
Q1: 9.24%
Min: -0.65%

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their net margin against the Utilities industry group benchmark.

Operating Margin (TTM)

National Grid (NGG) at 32.60% operates in the top operating margin quartile, ahead of Constellation Energy (CEG) at 21.86%, which runs around its industry’s norm.

CEG

Utilities industry group

21.86%

Max: 43.52%
Q3: 30.09%
Median: 23.50%
CEG: 21.86%
Q1: 16.61%
Min: 0.00%

NGG

Utilities industry group

32.60%

Max: 43.52%
NGG: 32.60%
Q3: 30.09%
Median: 23.50%
Q1: 16.61%
Min: 0.00%

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their operating margin against the Utilities industry group benchmark.

Profitability at a Glance

Profitability metrics for Constellation Energy (CEG) and National Grid (NGG)
Metric	CEG	NGG
ROE (TTM)	16.11%	8.41%
ROA (TTM)	4.20%	3.01%
Net Margin (TTM)	12.69%	18.32%
Operating Margin (TTM)	21.86%	32.60%
Gross Margin (TTM)	23.26%	100.00%

Growth

Revenue Growth

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their Revenue Growth across different time periods.

Revenue Growth at a Glance

Revenue growth metrics for Constellation Energy (CEG) and National Grid (NGG)
Metric	CEG	NGG
Revenue Growth (YoY)	8.34%	-3.76%
Revenue Growth (3Y CAGR)	1.47%	-6.53%

EPS Growth

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their EPS Growth across different time periods.

EPS Growth at a Glance

EPS growth metrics for Constellation Energy (CEG) and National Grid (NGG)
Metric	CEG	NGG
EPS Growth (YoY)	-37.76%	--
EPS Growth (3Y CAGR)	--	-30.59%

Financial Strength

Current Ratio (MRQ)

National Grid (NGG) at 0.76 keeps current ratio within its industry’s typical mid-range, while Constellation Energy (CEG) at 1.36 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

CEG

Utilities industry group

1.36

Max: 1.88
CEG: 1.36
Q3: 1.16
Median: 0.90
Q1: 0.65
Min: 0.33

NGG

Utilities industry group

0.76

Max: 1.88
Q3: 1.16
Median: 0.90
NGG: 0.76
Q1: 0.65
Min: 0.33

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their current ratio against the Utilities industry group benchmark.

Debt / Equity (MRQ)

Constellation Energy (CEG) at 0.66 keeps leverage in the lower industry quartile, while National Grid (NGG) at 1.21 runs a more typical debt-to-equity mix.

CEG

Utilities industry group

0.66

Max: 3.02
Q3: 1.81
Median: 1.34
Q1: 0.85
CEG: 0.66
Min: 0.00

NGG

Utilities industry group

1.21

Max: 3.02
Q3: 1.81
Median: 1.34
NGG: 1.21
Q1: 0.85
Min: 0.00

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their debt-to-equity ratio against the Utilities industry group benchmark.

Financial Strength at a Glance

Financial strength metrics for Constellation Energy (CEG) and National Grid (NGG)
Metric	CEG	NGG
Current Ratio (MRQ)	1.36	0.76
Debt / Equity (MRQ)	0.66	1.21
Net Debt / EBITDA	2.71	6.39

Dividends

Dividend Yield (TTM)

Both Constellation Energy (CEG) at 0.59% and National Grid (NGG) at 0.59% offer bottom-quartile dividend income relative to share price versus industry peers.

CEG

Utilities industry group

0.59%

Max: 5.96%
Q3: 3.78%
Median: 2.89%
Q1: 1.90%
CEG: 0.59%
Min: 0.00%

NGG

Utilities industry group

0.59%

Max: 5.96%
Q3: 3.78%
Median: 2.89%
Q1: 1.90%
NGG: 0.59%
Min: 0.00%

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their dividend yield against the Utilities industry group benchmark.

Dividend Payout Ratio (TTM)

National Grid (NGG) at 71.18% keeps its payout within the industry’s typical band; Constellation Energy (CEG) at 13.81% pays out less than peers usually do, retaining more of its earnings — a policy difference more than a quality gap.

CEG

Utilities industry group

13.81%

Max: 116.67%
Q3: 73.40%
Median: 58.69%
Q1: 36.87%
CEG: 13.81%
Min: 0.00%

NGG

Utilities industry group

71.18%

Max: 116.67%
Q3: 73.40%
NGG: 71.18%
Median: 58.69%
Q1: 36.87%
Min: 0.00%

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their payout ratio against the Utilities industry group benchmark.

Dividends at a Glance

Dividend metrics for Constellation Energy (CEG) and National Grid (NGG)
Metric	CEG	NGG
Dividend Yield (TTM)	0.59%	0.59%
Dividend Payout Ratio (TTM)	13.81%	71.18%

Valuation

P/E Ratio (TTM)

Both Constellation Energy (CEG) at 23.26 and National Grid (NGG) at 19.09 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

CEG

Utilities industry group

23.26

Max: 33.40
Q3: 23.70
CEG: 23.26
Median: 20.38
Q1: 16.39
Min: 6.27

NGG

Utilities industry group

19.09

Max: 33.40
Q3: 23.70
Median: 20.38
NGG: 19.09
Q1: 16.39
Min: 6.27

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their P/E ratio against the Utilities industry group benchmark.

P/S Ratio (TTM)

Constellation Energy (CEG) at 3.20 is priced about in line with its industry on P/S ratio, while National Grid (NGG) at 4.66 sits in the pricier quartile — NGG costs more per dollar of sales.

CEG

Utilities industry group

3.20

Max: 6.24
Q3: 3.60
CEG: 3.20
Median: 2.74
Q1: 1.67
Min: 0.00

NGG

Utilities industry group

4.66

Max: 6.24
NGG: 4.66
Q3: 3.60
Median: 2.74
Q1: 1.67
Min: 0.00

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their P/S ratio against the Utilities industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Constellation Energy (CEG) at 2.90 sits in the upper P/B ratio quartile, and National Grid (NGG) at 8.28 prices even higher, above its industry range.

CEG

Utilities industry group

2.90

Max: 3.56
CEG: 2.90
Q3: 2.44
Median: 1.90
Q1: 1.45
Min: 0.34

NGG

Utilities industry group

8.28

NGG: 8.28
Max: 3.56
Q3: 2.44
Median: 1.90
Q1: 1.45
Min: 0.34

Constellation Energy (CEG) vs. National Grid (NGG): A comparison of their P/B ratio against the Utilities industry group benchmark.

Valuation at a Glance

Valuation metrics for Constellation Energy (CEG) and National Grid (NGG)
Metric	CEG	NGG
P/E Ratio (TTM)	23.26	19.09
P/S Ratio (TTM)	3.20	4.66
P/B Ratio (MRQ)	2.90	8.28
Free Cash Flow Yield (TTM)	-4.68%	-3.79%