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PPL Corporation

PPL Utilities Utilities Regulated Electric

PPL Corporation’s revenue for fiscal 2025 (year ended December 2025) was $9.0 billion, up 6.85% from fiscal 2024. In the quarter to June 2026, revenue grew 4.25%, EPS grew 24.0%, free cash flow fell 112.8% and total debt rose 14.2%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for three consecutive years, revenue growth for five, operating cash flow growth for three.

35.17 0.69 +2.00%
Market cap
$26.0B
P/E
20.7×
Fwd P/E
18.6×
Dividend yield
3.21%
F-score
5/9
Altman Z
0.95
Beneish M
−2.49
Dividend safety
24/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 0.25
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — 1 — — — —
Insider Ownership 0.18%

Capital & Financial Ratios $m

Market Cap 25,950.00
Revenue 9,398.00
Net Income 1,266.00
Free Cash Flow (1,992.00)
Net Debt 19,991.00
Current Ratio 0.91 (below 1: weak)
Debt/Equity 1.35
P/E ratio 20.69
Fwd P/E 18.60
P/S ratio 2.82
P/B ratio 1.76
Past 5Y EPS Growth (3.60%) (below 0%: weak)
This Y EPS Growth 7.69%
Next Y EPS Growth 8.73%
Next Y revenue growth 6.70%
Next 5Y EPS Growth 8.29%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.9×, against a ten-year median of 5.3×; over the ten years it ranged from 3.7× in 2023 to 11.6× in 2020.
P/E against its own 10 years 50.45%
10-year low 10-year high
P/S against its own 10 years 28.90%
10-year low 10-year high
P/B against its own 10 years 48.80%
10-year low 10-year high
EV/Sales against its own 10 years 30.74%
10-year low 10-year high

Dividends

Payout Ratio 0.67
Annual Dividend Rate 1.13
Annual Dividend Yield 3.21%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.14
0.29
0.29
0.29
2025 1.09
0.27
0.27
0.27
0.27
2024 1.03
0.26
0.26
0.26
0.26
2023 0.96
0.24
0.24
0.24
0.24
2022 0.88
0.20
0.23
0.23
0.23
2021 1.66
0.42
0.42
0.42
0.42
2020 1.66
0.42
0.42
0.42
0.42
2019 1.65
0.41
0.41
0.41
0.41
2018 1.64
0.41
0.41
0.41
0.41
2017 1.58
0.40
0.40
0.40
0.40
2016 1.52
0.38
0.38
0.38
0.38
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 331 306 1,071 332
Receivables 1,221 1,037 1,225 1,248
Inventory 505 511 551 597
Other 772 890 978 810
2,932 2,880 3,931 3,165
2023 2024 2025 Q'26
Payables 1,104 1,196 1,559 1,360
ST’ Debt 993 854 1,360 534
Other 816 837 1,044 1,074
3,340 3,333 4,546 3,497

Compound Annual Growth %

10y 5y 3y
Sales 1.66% 10.56% 4.59%
Cash Flow 0.05% (0.87%) 14.97%
Earnings 5.63% (4.30%) 16.02%
Book Value 4.14% 2.16% 2.26%

Revenue $m

Mar Jun Sep Dec Year
’26 2,774 2,111 — — —
’25 2,504 2,025 2,239 2,274 9,042
’24 2,304 1,881 2,066 2,211 8,462
’23 2,415 1,823 2,043 2,031 8,312
’22 1,782 1,696 2,134 2,290 7,902
’21 1,498 1,288 1,512 1,485 5,783
’20 1,440 1,263 1,400 1,371 5,474
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 557 583 — — —
’25 513 602 966 548 2,629
’24 282 766 781 511 2,340
’23 430 412 806 110 1,758
’22 502 477 532 219 1,730
’21 663 858 457 292 2,270
’20 692 607 948 499 2,746
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (501) (698) — — —
’25 (280) (328) (179) (614) (1,401)
’24 (314) 96 102 (349) (465)
’23 (69) (179) 155 (539) (632)
’22 75 (105) 26 (421) (425)
’21 192 360 (34) (221) 297
’20 76 65 416 (81) 476
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.60 0.30 — — —
’25 0.56 0.25 0.43 0.36 1.59
’24 0.42 0.26 0.29 0.24 1.20
’23 0.39 0.15 0.31 0.15 1.00
’22 0.37 0.16 0.24 0.26 1.02
’21 (2.39) 0.03 0.27 0.18 (1.93)
’20 0.72 0.45 0.37 0.38 1.91
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 32.08 30.74 25.30 27.80 18.12 26.15 23.47 22.20 25.35 31.22

Analyst estimates 2026–2028

Powerpack
High 39.92 40.20 32.46 36.28 36.83 30.72 30.99 31.74 35.15 38.27
People
People Employees 12,689 12,512 12,444 12,280 12,318 5,607 6,527 6,629 6,653 6,546
Revenue/emp, $m 0.59 0.60 0.63 0.46 0.44 1.03 1.21 1.25 1.27 1.38
Income, $m
Income, $m Revenue 7,517 7,447 7,785 5,602 5,474 5,783 7,902 8,312 8,462 9,042
Gross margin, % 80.09 80.61 80.17 74.44 76.87 74.72 66.88 69.03 70.91 69.62
EBT 2,550 1,912 2,285 919 954 521 915 924 1,116 1,472
EBT margin, % 33.92 25.67 29.35 16.40 17.43 9.01 11.58 11.12 13.19 16.28
Net income 1,902 1,128 1,827 1,746 1,469 (1,480) 756 740 888 1,181
Depreciation 1,006 1,105 1,172 1,007 1,080 1,121 1,233 1,335 1,357 1,416
Per share, $
Per share, $ Revenue 11.09 10.87 11.05 7.69 7.12 7.58 10.74 11.28 11.47 12.23
Earnings 2.80 1.64 2.59 2.39 1.91 (1.93) 1.03 1.00 1.20 1.60
Cash flow 4.27 3.59 4.00 3.33 3.57 2.98 2.35 2.39 3.17 3.56
Capex (4.31) (4.57) (4.60) (3.08) (2.95) (2.59) (2.93) (3.24) (3.80) (5.45)
Free cash flow (0.04) (0.98) (0.59) 0.25 0.62 0.39 (0.58) (0.86) (0.63) (1.89)
Book value 14.61 15.70 16.55 17.83 17.40 17.99 18.91 18.90 19.08 20.13
Shares, m 678 685 704 729 769 763 736 737 738 739
Valuation, ×
Valuation, × P/E 12.15 18.55 10.94 14.89 14.69 0.00 28.63 27.51 26.83 21.89
P/S 3.07 2.82 2.56 4.67 3.96 3.97 2.72 2.44 2.83 2.86
P/B 2.33 1.95 1.71 2.01 1.62 1.67 1.54 1.46 1.70 1.74
EV/Sales 5.58 5.61 5.31 8.63 6.78 5.29 4.48 4.28 4.78 4.89
EV/FCF (723.56) (59.83) (93.37) 306.13 82.42 112.81 (78.41) (54.03) (82.38) (30.96)
Cash, $m
Cash, $m Operating cash flow 2,890 2,461 2,821 2,427 2,746 2,270 1,730 1,758 2,340 2,629
Capex (2,920) (3,133) (3,238) (2,243) (2,270) (1,973) (2,155) (2,390) (2,805) (4,030)
Free cash flow (30) (672) (417) 184 476 297 (425) (632) (465) (1,401)
Balance, $m
Balance, $m Working capital (1,770) (1,729) (2,131) (2,133) 5,845 2,684 (965) (408) (453) (615)
Total debt 19,249 21,275 22,029 23,044 15,857 11,209 14,228 15,604 16,806 19,350
Net debt 18,908 20,790 21,408 22,229 15,415 7,638 13,872 15,273 16,500 18,279
Shareholders’ equity 9,899 10,761 11,657 12,991 13,373 13,723 13,918 13,933 14,077 14,881
Returns, %
Returns, % ROA 4.90 2.83 4.31 3.92 3.13 (3.64) 2.12 1.92 2.21 2.73
ROIC 6.37 5.75 5.39 2.71 3.44 4.17 3.09 3.49 3.56 4.01
ROE 19.19 10.92 16.30 14.17 11.14 (10.92) 5.46 5.31 6.33 8.14
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

PPL Corporation vs peers in Utilities Regulated Electric (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AEE Ameren Corporation $28.7B 18.5× 20.3× −5.81% (below 0%: shrinking) +11.76% (above 0%: growing) −51.22% (below 0%: shrinking) 73.90% 21.94% Compare
PCG Pacific Gas & Electric Co. $28.5B 9.5× 11.2× +0.07% (above 0%: growing) +37.50% (above 0%: growing) −2.64% (below 0%: shrinking) 84.50% 21.40% Compare
FTS Fortis $27.9B 22.6× 21.5× +4.02% (above 0%: growing) +1.82% (above 0%: growing) +29.48% (above 0%: growing) 45.92% 27.43% Compare
DTE DTE Energy Company $26.7B 20.5× 19.4× −1.46% (below 0%: shrinking) +22.73% (above 0%: growing) −179.77% (below 0%: shrinking) 51.91% 13.59% Compare
FE FirstEnergy Corporation $26.4B 24.6× 16.8× +8.82% (above 0%: growing) +8.70% (above 0%: growing) −143.84% (below 0%: shrinking) 64.30% 18.41% Compare
CNP CenterPoint Energy, Inc. $26.2B 23.9× 22.8× +10.70% (above 0%: growing) +23.33% (above 0%: growing) −4.04% (below 0%: shrinking) 86.94% 24.81% Compare
PPL PPL Corporation $26.0B 20.7× 18.6× +4.25% (above 0%: growing) +24.00% (above 0%: growing) −112.80% (below 0%: shrinking) 71.67% 22.50%
ES Eversource Energy $24.9B 17.3× 15.4× +2.29% (above 0%: growing) −85.42% (below 0%: shrinking) +398.93% (above 0%: growing) 67.64% 18.63% Compare
EIX Edison International $21.4B 5.7× 12.2× −4.09% (below 0%: shrinking) +56.18% (above 0%: growing) +30.60% (above 0%: growing) 73.90% 25.06% Compare
Median of peers $26.5B 19.5× 18.1× +1.18% +17.25% −3.34% 70.77% 21.67%

All 40 Utilities Regulated Electric stocks →

PPL metrics, ten years each

PPL Corporation (PPL) key facts

  • Strength: PPL Corporation’s revenue for fiscal 2025 (year ended December 2025) was $9.0 billion, up 6.85% from fiscal 2024.
  • Strength: Net income was $1.2 billion, or $1.60 per share (basic), a net margin of 13.0%.
  • PPL Corporation (PPL) is an Utilities Regulated Electric company in the Utilities sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, PPL traded at $35.17, a market capitalization of $26.0 billion.
  • At that price the stock trades at 20.7× trailing-twelve-month earnings and 2.8× sales; its P/E is higher than 50% of its own readings over the past ten years.
  • PPL Corporation pays an annual dividend of $1.13 per share, a yield of 3.21%, with a payout ratio of 66.7%.
  • Return on equity was 8.14% and debt-to-equity 1.35.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 0.95 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/PPL · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com