How much does Network Rail Infrastructure Limited make?

Network Rail Infrastructure Limited reported revenue of £11.9bn and £472m profit in the year to 31 Mar 2026, according to its accounts filed at Companies House.

How many employees does Network Rail Infrastructure Limited have?

Network Rail Infrastructure Limited reported an average of 42,378 employees in the year to 31 Mar 2026.

Is Network Rail Infrastructure Limited profitable?

Yes — Network Rail Infrastructure Limited reported a profit of £472m in the year to 31 Mar 2026.

Company No. 02904587 · Incorporated 28 Feb 1994

Network Rail Infrastructure Limited

Registered name: NETWORK RAIL INFRASTRUCTURE LIMITED

Part of Secretary Of State For Transport group

Network Rail Infrastructure Limited made £11.9bn revenue and £472m profit in the year to 31 Mar 2026.

Network Rail Infrastructure Limited’s revenue grew 5% to £11.9bn in the year to 31 Mar 2026, with £472m profit and 42,378 employees. The company is classified under “development of building projects” and is based in London; we hold 3 years of its filed accounts.

Full P&L filedSection F · ConstructionSIC 41100Development of building projects SIC 49100Passenger rail transport, interurban SIC 49200Freight rail transport SIC 68100Buying and selling of own real estate

Status: Active
Location: London, London
Age: 32 yrs · since 1994
Type: Private Limited Company

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.

Latest accounts · year to 31 Mar 2026

Key figures

Revenue

£11.9bn

Growth ▲4.8%

Profit

£472m

Growth ▼7.4%

Profit margin

Employees

42,378

Change ▲2.5%

Profit / employee

£11.1k

Revenue/employee £280k

Profitable streak

3yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Mar 2024	31 Mar 2025	31 Mar 2026
Disclosure	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£11.5bn	£11.3bn	£11.9bn
Operating profit	£4bn	£3.2bn	£3.5bn
Profit before tax	£1.5bn	£720m	£608m
Profit after tax	£1.1bn	£510m	£472m
Profit (best available)	£1.1bn	£510m	£472m
Employees (average)	40,966	41,331	42,378
Ratios
Profit margin	9.9%	4.5%	4%
Revenue per employee	£282k	£274k	£280k
Profit per employee	£27.8k	£12.3k	£11.1k
Growth (year on year)
Revenue growth	—	▼1.9%	▲4.8%
Profit growth	—	▼55.3%	▼7.4%
Headcount growth	—	▲0.9%	▲2.5%
Balance sheet — indirect signals, not revenue
Net assets	—	—	—
Source	Accounts · bulk data Jul 2025	Accounts · bulk data Jul 2025	Accounts · bulk data Aug 2026

Derived from the latest filing

How the business works

Profit margin: 4%; Profit ÷ revenue.
Gross margin: —; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £280k; Revenue ÷ average employees.
Profit per employee: £11.1k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: —; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: —; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: —; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: —; Now —
Cash at bank: —; Now —
Headcount: ▲3%; Now 42,378
Deferred income: —; Now —
Fixed assets: —; Now —

Corporate ownership

Group structure

Ownership chain

Secretary Of State For Transport (registered outside the UK register)ultimate parent75–100%
Network Rail Limited75–100%
Network Rail Holdco Limited75–100%
Network Rail Infrastructure Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Subsidiaries (17)

Network Rail International LimitedRev. £34.5m · Profit −£1m
Platform4 Rail Regeneration LimitedRev. £27.5m · Profit −£9.7m
Great British Railways Consulting LimitedFigures not disclosed
Kew Bridge Manco LimitedFigures not disclosed
Network Rail (High Speed) LimitedFigures not disclosed
Network Rail (Spacia) LimitedFigures not disclosed
Network Rail (Stations) LimitedFigures not disclosed
Network Rail (VY1) LimitedFigures not disclosed
Network Rail (VY2) LimitedFigures not disclosed
Network Rail Certification Body LimitedFigures not disclosed
Network Rail Development LimitedFigures not disclosed
Network Rail Pension Trustee LimitedFigures not disclosed
Network Rail Property LimitedFigures not disclosed
NR Corporate Secretary LimitedFigures not disclosed
Railway Property LimitedFigures not disclosed
Spacia (2002) LimitedFigures not disclosed
Victoria Place Shopping Centre LimitedFigures not disclosed

Sister companies (1)

Great British Railways Transition Team LimitedFigures not disclosed

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

Similar profitable businesses

Industry benchmarks →

Specsavers Optical Superstores Limited
Fareham · Development of building projects
Revenue
£4.3bn
Profit
£330m
Staff
—

Sources

Companies House profile Filing history & original accounts

Latest figures from accounts for the year to 31 Mar 2026 (profit £472m), from the Companies House accounts bulk data published Aug 2026. Spotted an error? Request a correction.

Updated from Companies House on 13 Oct 2026

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.