NGG vs. SO: National Grid vs. Southern Company Stock Comparison

June 25, 2026

How do National Grid (NGG) and Southern Company (SO) 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

National Grid (NGG) and Southern Company (SO) both fall under the Utilities industry group, but NGG is classified in Multi-Utilities while SO is classified in Electric Utilities.

Southern Company (SO) 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 National Grid (NGG) and Southern Company (SO)
Profile Item	NGG	SO
Name	National Grid plc Sponsored ADR	The Southern Company
Country/Region	United Kingdom	United States
GICS Sector	Utilities	Utilities
GICS Industry Group	Utilities	Utilities
GICS Industry	Multi-Utilities	Electric Utilities
GICS Sub-Industry	Multi-Utilities	Electric Utilities
Market Capitalization	82.43 billion USD	107.97 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	August 10, 2005	December 31, 1981
Security Type	ADR	Common Stock

Performance

Cumulative Growth

NGG

National Grid (NGG) vs. Southern Company (SO): 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 National Grid (NGG) and Southern Company (SO). Returns over one year are annualized.

Performance at a Glance

Performance metrics for National Grid (NGG) and Southern Company (SO)
Metric	NGG	SO
Total Return (1Y)	17.71%	8.82%

Risk

Drawdown

NGG

National Grid (NGG) vs. Southern Company (SO): 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 National Grid (NGG) and Southern Company (SO)
Metric	NGG	SO
Volatility (1Y, Annualized)	21.54%	16.25%
Beta (5Y)	0.77	0.34
Avg. Volume (3M)	1.27M	5.60M

Profitability

ROE (TTM)

Both National Grid (NGG) at 8.41% and Southern Company (SO) at 10.99% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

NGG

Utilities industry group

8.41%

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

SO

Utilities industry group

10.99%

Max: 16.11%
Q3: 11.15%
SO: 10.99%
Median: 9.46%
Q1: 7.50%
Min: 2.67%

National Grid (NGG) vs. Southern Company (SO): 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 Southern Company (SO) at 14.46%, which keeps about the industry-typical share.

NGG

Utilities industry group

18.32%

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

SO

Utilities industry group

14.46%

Max: 29.37%
Q3: 17.31%
SO: 14.46%
Median: 12.55%
Q1: 9.24%
Min: -0.65%

National Grid (NGG) vs. Southern Company (SO): 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 Southern Company (SO) at 25.82%, which runs around its industry’s norm.

NGG

Utilities industry group

32.60%

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

SO

Utilities industry group

25.82%

Max: 43.52%
Q3: 30.09%
SO: 25.82%
Median: 23.50%
Q1: 16.61%
Min: 0.00%

National Grid (NGG) vs. Southern Company (SO): A comparison of their operating margin against the Utilities industry group benchmark.

Profitability at a Glance

Profitability metrics for National Grid (NGG) and Southern Company (SO)
Metric	NGG	SO
ROE (TTM)	8.41%	10.99%
ROA (TTM)	3.01%	3.24%
Net Margin (TTM)	18.32%	14.46%
Operating Margin (TTM)	32.60%	25.82%
Gross Margin (TTM)	100.00%	48.00%

Growth

Revenue Growth

National Grid (NGG) vs. Southern Company (SO): A comparison of their Revenue Growth across different time periods.

Revenue Growth at a Glance

Revenue growth metrics for National Grid (NGG) and Southern Company (SO)
Metric	NGG	SO
Revenue Growth (YoY)	-3.76%	10.59%
Revenue Growth (3Y CAGR)	-6.53%	0.31%

EPS Growth

National Grid (NGG) vs. Southern Company (SO): A comparison of their EPS Growth across different time periods.

EPS Growth at a Glance

EPS growth metrics for National Grid (NGG) and Southern Company (SO)
Metric	NGG	SO
EPS Growth (YoY)	--	-1.75%
EPS Growth (3Y CAGR)	-30.59%	6.34%

Financial Strength

Current Ratio (MRQ)

National Grid (NGG) at 0.76 keeps current ratio within its industry’s typical mid-range, while Southern Company (SO) at 0.65 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for SO.

NGG

Utilities industry group

0.76

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

SO

Utilities industry group

0.65

Max: 1.88
Q3: 1.16
Median: 0.90
Q1: 0.65
SO: 0.65
Min: 0.33

National Grid (NGG) vs. Southern Company (SO): A comparison of their current ratio against the Utilities industry group benchmark.

Debt / Equity (MRQ)

National Grid (NGG) at 1.21 carries an industry-typical debt-to-equity mix, while Southern Company (SO) at 1.90 uses more debt funding than most peers.

NGG

Utilities industry group

1.21

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

SO

Utilities industry group

1.90

Max: 3.02
SO: 1.90
Q3: 1.81
Median: 1.34
Q1: 0.85
Min: 0.00

National Grid (NGG) vs. Southern Company (SO): A comparison of their debt-to-equity ratio against the Utilities industry group benchmark.

Financial Strength at a Glance

Financial strength metrics for National Grid (NGG) and Southern Company (SO)
Metric	NGG	SO
Current Ratio (MRQ)	0.76	0.65
Debt / Equity (MRQ)	1.21	1.90
Net Debt / EBITDA	6.39	5.37

Dividends

Dividend Yield (TTM)

Southern Company (SO) at 3.12% pays a yield in its industry’s typical range, while National Grid (NGG) at 0.59% falls in the bottom quartile of its peers.

NGG

Utilities industry group

0.59%

Max: 6.04%
Q3: 3.84%
Median: 2.98%
Q1: 1.88%
NGG: 0.59%
Min: 0.00%

SO

Utilities industry group

3.12%

Max: 6.04%
Q3: 3.84%
SO: 3.12%
Median: 2.98%
Q1: 1.88%
Min: 0.00%

National Grid (NGG) vs. Southern Company (SO): A comparison of their dividend yield against the Utilities industry group benchmark.

Dividend Payout Ratio (TTM)

National Grid (NGG) at 71.18% pays out a band-typical share of earnings, while Southern Company (SO) at 75.70% distributes more than its industry norm — less retained, thinner cover.

NGG

Utilities industry group

71.18%

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

SO

Utilities industry group

75.70%

Max: 116.67%
SO: 75.70%
Q3: 73.40%
Median: 58.69%
Q1: 36.87%
Min: 0.00%

National Grid (NGG) vs. Southern Company (SO): A comparison of their payout ratio against the Utilities industry group benchmark.

Dividends at a Glance

Dividend metrics for National Grid (NGG) and Southern Company (SO)
Metric	NGG	SO
Dividend Yield (TTM)	0.59%	3.12%
Dividend Payout Ratio (TTM)	71.18%	75.70%

Valuation

P/E Ratio (TTM)

National Grid (NGG) at 19.09 is near its industry’s usual P/E ratio, while Southern Company (SO) at 24.50 sits in the richer quartile — SO needs stronger growth or earnings quality to justify the premium.

NGG

Utilities industry group

19.09

Max: 31.16
Q3: 23.44
Median: 19.73
NGG: 19.09
Q1: 15.82
Min: 4.91

SO

Utilities industry group

24.50

Max: 31.16
SO: 24.50
Q3: 23.44
Median: 19.73
Q1: 15.82
Min: 4.91

National Grid (NGG) vs. Southern Company (SO): A comparison of their P/E ratio against the Utilities industry group benchmark.

P/S Ratio (TTM)

Both National Grid (NGG) at 4.66 and Southern Company (SO) at 3.58 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.

NGG

Utilities industry group

4.66

Max: 6.04
NGG: 4.66
Q3: 3.54
Median: 2.65
Q1: 1.61
Min: 0.00

SO

Utilities industry group

3.58

Max: 6.04
SO: 3.58
Q3: 3.54
Median: 2.65
Q1: 1.61
Min: 0.00

National Grid (NGG) vs. Southern Company (SO): A comparison of their P/S ratio against the Utilities industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Southern Company (SO) at 2.91 sits in the upper P/B ratio quartile, and National Grid (NGG) at 8.28 prices even higher, above its industry range.

NGG

Utilities industry group

8.28

NGG: 8.28
Max: 3.85
Q3: 2.41
Median: 1.89
Q1: 1.41
Min: 0.34

SO

Utilities industry group

2.91

Max: 3.85
SO: 2.91
Q3: 2.41
Median: 1.89
Q1: 1.41
Min: 0.34

National Grid (NGG) vs. Southern Company (SO): A comparison of their P/B ratio against the Utilities industry group benchmark.

Valuation at a Glance

Valuation metrics for National Grid (NGG) and Southern Company (SO)
Metric	NGG	SO
P/E Ratio (TTM)	19.09	24.50
P/S Ratio (TTM)	4.66	3.58
P/B Ratio (MRQ)	8.28	2.91
Free Cash Flow Yield (TTM)	-3.79%	-3.66%