PPL Corp (PPL)

PPL Corporation provides electricity and natural gas to approximately 3.6 million customers in the United States. It operates in three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company engages in the transmission and distribution of electricity in eastern and central Pennsylvania; generation, transmission, distribution, and sale of electricity in Kentucky, Virginia, and Rhode Island; distribution and sale of natural gas in Kentucky and Rhode Island; sale of wholesale electricity in Kentucky; and generation of electricity from power plants in Kentucky. It generates electricity from coal, gas, hydro, and solar sources. The company was formerly known as PP&L Resources, Inc. and changed its name to PPL Corporation in 2000. PPL Corporation was founded in 1920 and is headquartered in Allentown, Pennsylvania.

Symbol: PPL
Exchange: NYSE
Sector: Utilities
Industry: Utilities - Regulated Electric
Market cap: $24.67B
52 week range: 31.56 - 40.11

Valuation

Share price: $32.80 (close of 2026-10-02)
P/E (TTM): 20.00x
Price to book: 1.64x
Price to free cash flow: -15.21x
Enterprise value: $43.67B
Book value per share: $19.97

Price performance

Period	Change
1 day	+0.12%
5 days	+2.40%
1 month	-5.04%
3 months	-11.09%
6 months	-15.11%
Year to date	-6.34%
1 year	-9.89%
3 years	+45.45%
5 years	+17.31%
10 years	-5.12%
All time	+760.89%

Members of Congress who disclosed PPL trades

Ritchie Torres

Super investors holding PPL

Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates) · John Rogers (Ariel Investments LLC) · George Soros (Soros Fund Mgmt)

Profitability and growth

Return on equity: 7.94%
Return on invested capital: 5.54%
Return on assets: 2.61%
Return on capital employed: 5.23%
Gross margin: 23.22%
Net margin: 12.88%
EBITDA margin: 37.52%
Revenue growth: 8.60%
Net income growth: 33.00%
Free cash flow growth: -201.29%

Cash flow and balance sheet

Free cash flow yield (TTM): -6.57%
Current ratio: 1.00x
Net debt to EBITDA: 4.97x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $9.17B
Cost of revenue: $7.04B
Gross profit: $2.13B
EBITDA: $3.44B
Net income: $1.18B
Earnings per share: $1.60
Interest expense: $808.00M
Shares outstanding: 739.41M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$9.17B	$2.13B	$1.18B	$1.60
2024-12-31	$8.44B	$1.74B	$888.00M	$1.20
2023-12-31	$8.29B	$1.63B	$740.00M	$1.00
2022-12-31	$7.79B	$1.37B	$756.00M	$1.03
2021-12-31	$5.84B	$1.42B	-$1.48B	$-1.93
2020-12-31	$5.43B	$1.59B	$1.47B	$1.91
2019-12-31	$5.54B	$1.53B	$1.75B	$2.39
2018-12-31	$7.78B	$2.85B	$1.83B	$2.59
2017-12-31	$7.45B	$2.90B	$1.13B	$1.64
2016-12-31	$7.52B	$2.94B	$1.90B	$2.80

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	23.22%	12.88%	7.94%	5.54%
2024-12-31	20.61%	10.52%	6.31%	4.94%
2023-12-31	19.66%	8.93%	5.31%	4.95%
2022-12-31	17.65%	9.71%	5.43%	4.22%
2021-12-31	24.39%	-25.35%	-10.78%	4.31%
2020-12-31	29.21%	27.06%	10.98%	4.61%
2019-12-31	27.54%	31.51%	13.44%	3.94%
2018-12-31	36.66%	23.49%	15.67%	7.57%
2017-12-31	38.96%	15.15%	10.48%	6.95%
2016-12-31	39.06%	25.30%	19.21%	8.21%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$1.07B	$17.99B
2024-12-31	$306.00M	$15.95B
2023-12-31	$331.00M	$14.61B
2022-12-31	$356.00M	$12.89B
2021-12-31	$3.57B	$10.67B
2020-12-31	$442.00M	$13.62B
2019-12-31	$815.00M	$20.72B
2018-12-31	$621.00M	$20.07B
2017-12-31	$485.00M	$19.85B
2016-12-31	$341.00M	$17.81B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	-$1.40B	$49.00M
2024-12-31	-$465.00M	$46.00M
2023-12-31	-$632.00M	$33.00M
2022-12-31	-$425.00M	$37.00M
2021-12-31	$297.00M	$37.00M
2020-12-31	$476.00M	$29.00M
2019-12-31	$184.00M	$36.00M
2018-12-31	-$417.00M	$26.00M
2017-12-31	-$672.00M	$38.00M
2016-12-31	-$30.00M	$28.00M

Dividend history

Most recent payment: 2026-09-10
Paid in the last twelve months: $1.13

Payment date	Dividend per share
2026-09-10	$0.28
2026-06-10	$0.28
2026-03-10	$0.28
2025-12-10	$0.27
2025-09-10	$0.27
2025-06-10	$0.27
2025-03-10	$0.27
2024-12-10	$0.26

Investor relations

Next earnings report

Next confirmed report: 2026-11-04
Consensus EPS estimate: $0.53

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-08-07	Jun/2026	$0.35
2026-05-08	Mar/2026	$0.61
2026-02-20	Dec/2025	$0.42
2026-02-12	Dec/2025	$0.41
2025-11-05	Sep/2025	$0.46
2025-07-31	Jun/2025	$0.37
2025-04-30	Mar/2025	$0.53
2025-02-13	Dec/2024	$0.37

Filings and sources

Company website: pplweb.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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