Constellation Energy vs National Grid plc
CEG and NGG, both utilities, compared on the same figures computed the same way.
On our fair value model, National Grid plc looks the cheaper of the two, trading 2 percentage points further below its estimated fair value than Constellation Energy. That is a statement about price against one model, not a forecast. Our estimate is built from normalized earning power with growth capped deliberately low, so it is systematically hard on companies whose value is mostly future growth.
National Grid plc scores higher on our moat model (63 against 53). A moat is a structural reason competitors cannot take the profits away, and over a long holding period it matters more than any single quarter's numbers.
CEG trades at 21.8 times earnings against NGG's 17.3. A lower multiple is not automatically the better deal: on a cyclical business the low P/E arrives at the top of the cycle, right before earnings fall.
The honest answer to "which is better" is that it depends on what you are buying them for, and neither this page nor any screen can make that judgement for you. What it can do is show you the same figures for both, computed the same way, so the comparison is fair.
| Metric | CEG | NGG |
|---|---|---|
| Share price | $258.92 | $75.33 |
| Market cap | $89.77B | $75.34B |
| P/E ratio | 21.8 | 17.3 |
| fair value estimate | $443.13 | $130.33 |
| Upside to fair value | +71.1% | +73.0% |
| Moat score | 53/100 | 63/100 |
| Dividend yield | 0.68% | 4.32% |
| Return on equity | 16.1% | 8.4% |
| Overall rating | 67/100, good quality | 82/100, high quality |
Gold marks the more favourable figure on rows where “better” has an agreed direction. It is a signpost, not a verdict. A lower P/E can be a value trap; a higher yield can be a dividend about to be cut.
Common questions
Is CEG or NGG a better buy?
Neither page nor screen can answer that for your situation, but on the numbers: our overall rating puts National Grid plc ahead (82 to 67), and against our fair value estimate National Grid plc looks the cheaper of the two. Both readings are one model's opinion, not advice.
CEG vs NGG: which has the wider moat?
Our moat model scores CEG at 53 and NGG at 63 out of 100. The higher score means a more durable structural advantage, which matters most over a long holding period.
Compare any two companies yourself, with financial statements and peer data, free inside the app.
Metrics from company filings and our own valuation model, both of which can be wrong. Quotes are delayed. Fundamentals for both companies as of 11 Jul 2026. Educational information, not financial advice.