PPL Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2026, filed May 8, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PPL SEC filings page.
PPL (PPL) reported $9.3B in revenue over the twelve months to Mar 31, 2026, up 7.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Rising capital intensity is converting improving operating earnings into weaker free cash flow while debt increasingly finances an expanding asset base.
Operating cash flow improved to$2.6B in FY2025, but free cash flow fell to-$1.4B . The gap reflects a larger reinvestment burden: capital expenditures reached$4.0B , so more internally generated cash is being absorbed by the asset base.
Debt-to-equity climbed from 0.9x in FY2022 to 1.2x in FY2025. With the current ratio below 1.0x in FY2025, short-term obligations exceeded current assets, making expansion increasingly dependent on external financing and working-capital management.
Operating margin widened from
Financial Health Signals
Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of PPL's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
PPL has an operating margin of 23.5%, meaning the company retains $24 of operating profit per $100 of revenue. This results in a moderate score of 61/100, indicating healthy but not exceptional operating efficiency. This is up from 20.6% the prior year.
PPL's revenue grew 6.9% year-over-year to $9.0B, a solid pace of expansion. This earns a growth score of 48/100.
PPL has a moderate D/E ratio of 1.21. This balance of debt and equity financing earns a leverage score of 34/100.
PPL's current ratio of 0.86 indicates adequate short-term liquidity, earning a score of 61/100. The company can meet its near-term obligations, though with limited headroom.
While PPL generated $2.6B in operating cash flow, capex of $4.0B consumed most of it, leaving -$1.4B in free cash flow. This results in a low score of 40/100, reflecting heavy capital investment rather than weak cash generation.
PPL's ROE of 7.9% shows moderate profitability relative to equity, earning a score of 62/100. This is up from 6.3% the prior year.
PPL scores 0.95, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($25.9B) relative to total liabilities ($30.4B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
PPL passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, PPL generates $2.23 in operating cash flow ($2.6B OCF vs $1.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
PPL earns $2.63 in operating income for every $1 of interest expense ($2.1B vs $808.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
PPL generated $2.8B in revenue in Q1 2026. This represents an increase of 10.8% from the same quarter a year earlier. Against the prior quarter it is up 22.0%.
PPL's EBITDA was $1.1B in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.6% from the same quarter a year earlier. Against the prior quarter it is up 35.1%.
PPL reported $452.0M in net income in Q1 2026. This represents an increase of 9.2% from the same quarter a year earlier. Against the prior quarter it is up 69.9%.
Not reported for Q1 2026.
Cash & Balance Sheet
PPL recorded an outflow of $501.0M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents a decrease of 78.9% from the same quarter a year earlier. Against the prior quarter it is up 18.4%.
PPL held $1.2B in cash against $19.0B in long-term debt as of Q1 2026.
PPL paid $0.28 per share in dividends in Q1 2026. This represents an increase of 4.6% from the same quarter a year earlier. Against the prior quarter it is up 4.6%.
Margins & Returns
PPL's operating margin was 26.9% in Q1 2026, reflecting core business profitability. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.9 percentage points.
PPL's net profit margin was 16.3% in Q1 2026, showing the share of revenue converted to profit. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.6 percentage points.
PPL's ROE was 3.0% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.2 percentage points.
Not reported for Q1 2026.
Capital Allocation
PPL invested $1.1B in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 33.4% from the same quarter a year earlier. Against the prior quarter it is down 9.0%.
Not reported for Q1 2026.
Not reported for Q1 2026.
PPL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.8B+10.8% | $2.3B+2.8% | $2.2B+8.4% | $2.0B+7.7% | $2.5B+8.7% | $2.2B+8.9% | $2.1B+1.1% | $1.9B+3.2% |
| Operating Income | $745.0M+9.9% | $476.0M+26.3% | $569.0M+32.9% | $406.0M+4.1% | $678.0M+24.4% | $377.0M-3.3% | $428.0M-2.1% | $390.0M+27.9% |
| EBITDA | $1.1B+9.6% | $811.0M+15.9% | $900.0M+20.0% | $730.0M+3.0% | $1.0B+16.1% | $700.0M-0.6% | $750.0M-0.1% | $709.0M+14.7% |
| Interest Expense | $224.0M+17.9% | $209.0M+10.6% | $210.0M+11.7% | $199.0M+9.3% | $190.0M+6.1% | $189.0M+9.9% | $188.0M+13.9% | $182.0M+10.3% |
| Income Tax | $108.0M+5.9% | $62.0M+59.0% | $80.0M+37.9% | $47.0M-6.0% | $102.0M+25.9% | $39.0M+178.6% | $58.0M0.0% | $50.0M+51.5% |
| Net Income | $452.0M+9.2% | $266.0M+50.3% | $318.0M+48.6% | $183.0M-3.7% | $414.0M+34.9% | $177.0M+56.6% | $214.0M-7.0% | $190.0M+69.6% |
| EPS (Basic) | $0.60+7.1% | $0.36+50.0% | $0.43+48.3% | $0.25-3.8% | $0.56+33.3% | $0.24+60.0% | $0.29-6.5% | $0.26+73.3% |
| EPS (Diluted) | N/A | $0.36+50.0% | $0.43+48.3% | $0.25-3.8% | $0.56+33.3% | $0.24+60.0% | $0.29-6.5% | $0.26+73.3% |
| Diluted Shares (Avg) | 757M+2.1% | N/A | 744M+0.6% | 743M+0.4% | 741M+0.3% | N/A | 740M+0.2% | 740M+0.2% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses.
PPL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $46.3B+10.8% | $45.2B+10.2% | $43.9B+8.6% | $42.4B+6.3% | $41.8B+5.5% | $41.1B+4.7% | $40.5B+4.8% | $39.8B+4.0% |
| Current Assets | $4.3B+39.6% | $3.9B+36.5% | $3.6B+22.1% | $2.9B+4.5% | $3.1B+1.9% | $2.9B-1.8% | $3.0B+8.0% | $2.8B+2.7% |
| Cash & Equivalents | $1.2B+297.8% | $1.1B+250.0% | $1.1B+103.3% | $294.0M+4.3% | $312.0M+13.0% | $306.0M-7.6% | $542.0M+53.5% | $282.0M-13.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $536.0M+12.6% | $551.0M+7.8% | $517.0M0.0% | $504.0M+0.4% | $476.0M-0.2% | $511.0M+1.2% | $517.0M+5.9% | $502.0M+5.9% |
| Accounts Receivable | $1.3B+10.2% | $1.1B+15.3% | $1.0B+6.7% | $998.0M+7.0% | $1.2B+20.9% | $961.0M+1.2% | $939.0M-7.9% | $933.0M-4.7% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $2.2B0.0% | $2.2B0.0% | $2.2B0.0% | $2.2B0.0% | $2.2B0.0% | $2.2B0.0% | $2.2B0.0% | $2.2B0.0% |
| Total Liabilities | $31.3B+13.7% | $30.4B+12.5% | $29.5B+11.9% | $28.1B+8.9% | $27.5B+7.6% | $27.0B+6.7% | $26.4B+7.2% | $25.8B+5.9% |
| Current Liabilities | $4.3B+12.5% | $4.5B+36.4% | $4.7B+103.4% | $5.0B+97.9% | $3.8B+61.1% | $3.3B-0.2% | $2.3B-19.9% | $2.5B+0.4% |
| Non-Current Liabilities | $27.0B+13.9% | $7.8B+1.6% | $24.8B+3.2% | $23.1B-0.7% | $23.7B+2.1% | $7.7B+4.8% | $24.1B+10.7% | $23.3B+6.5% |
| Long-Term Debt | $19.0B+19.4% | $18.0B+12.8% | $16.9B+2.6% | $15.3B-2.9% | $15.9B+1.2% | $16.0B+9.2% | $16.5B+13.9% | $15.8B+8.8% |
| Total Equity | $15.0B+5.1% | $14.9B+5.7% | $14.4B+2.3% | $14.3B+1.6% | $14.3B+1.7% | $14.1B+1.0% | $14.1B+0.6% | $14.1B+0.8% |
| Retained Earnings | $3.4B+13.0% | $3.2B+13.1% | $3.1B+10.4% | $3.0B+7.1% | $3.0B+7.7% | $2.8B+4.6% | $2.8B+2.6% | $2.8B+3.9% |
PPL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $557.0M+8.6% | $548.0M+7.2% | $966.0M+23.7% | $602.0M-21.4% | $513.0M+81.9% | $511.0M+364.5% | $781.0M-3.1% | $766.0M+85.9% |
| Depreciation & Amortization | $351.0M+9.0% | $335.0M+4.0% | $331.0M+2.8% | $324.0M+1.6% | $322.0M+1.9% | $322.0M+2.5% | $322.0M+2.5% | $319.0M+1.9% |
| Stock-Based Compensation | $23.0M+21.1% | N/A | N/A | N/A | $19.0M | N/A | N/A | N/A |
| Capital Expenditures | $1.1B+33.4% | $1.2B+35.1% | $1.1B+68.6% | $930.0M+38.8% | $793.0M+33.1% | $860.0M+32.5% | $679.0M+4.3% | $670.0M+13.4% |
| Free Cash Flow | -$501.0M-78.9% | -$614.0M-75.9% | -$179.0M-275.5% | -$328.0M-441.7% | -$280.0M+10.8% | -$349.0M+35.3% | $102.0M-34.2% | $96.0M+153.6% |
| Investing Cash Flow | -$1.0B-33.6% | -$1.1B-30.9% | -$1.1B-67.9% | -$930.0M-38.8% | -$783.0M-32.5% | -$874.0M-35.7% | -$683.0M-6.2% | -$670.0M-13.0% |
| Financing Cash Flow | $654.0M+141.3% | $563.0M+373.1% | $982.0M+509.9% | $306.0M+429.0% | $271.0M+9.3% | $119.0M-78.8% | $161.0M+218.4% | -$93.0M-297.9% |
| Dividends Paid | $202.0M+6.3% | $201.0M+5.8% | $202.0M+5.2% | $203.0M+5.7% | $190.0M+7.3% | $190.0M+6.7% | $192.0M+9.1% | $192.0M+7.3% |
Not reported in any period shown, so not listed: Share Buybacks.
PPL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 26.9%-0.2pp | 20.9%+3.9pp | 25.4%+4.7pp | 20.1%-0.7pp | 27.1%+3.4pp | 17.1%-2.1pp | 20.7%-0.7pp | 20.7%+4.0pp |
| Net Margin | 16.3%-0.2pp | 11.7%+3.7pp | 14.2%+3.8pp | 9.0%-1.1pp | 16.5%+3.2pp | 8.0%+2.5pp | 10.4%-0.9pp | 10.1%+4.0pp |
| Return on Equity | 3.0%+0.1pp | 1.8%+0.5pp | 2.2%+0.7pp | 1.3%-0.1pp | 2.9%+0.7pp | 1.3%+0.5pp | 1.5%-0.1pp | 1.4%+0.5pp |
| Return on Assets | 1.0%0.0pp | 0.6%+0.2pp | 0.7%+0.2pp | 0.4%0.0pp | 1.0%+0.2pp | 0.4%+0.1pp | 0.5%-0.1pp | 0.5%+0.2pp |
| Current Ratio | 1.00+0.2x | 0.860.0x | 0.77-0.5x | 0.59-0.5x | 0.81-0.5x | 0.860.0x | 1.29+0.3x | 1.110.0x |
| Debt-to-Equity | 1.27+0.2x | 1.21+0.1x | 1.180.0x | 1.070.0x | 1.110.0x | 1.13+0.1x | 1.17+0.1x | 1.12+0.1x |
| Asset Turnover | 0.060.0x | 0.050.0x | 0.050.0x | 0.050.0x | 0.060.0x | 0.050.0x | 0.050.0x | 0.050.0x |
| FCF Margin | -18.1%-6.9pp | -27.0%-11.2pp | -8.0%-12.9pp | -16.2%-21.3pp | -11.2%+2.5pp | -15.8%+10.8pp | 4.9%-2.6pp | 5.1%+14.9pp |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.86), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| PPL PPL | FY2025 | $9.0B | $1.2B | 13.1% | $25.9B | 51/100 |
| Ameren AEE | FY2025 | $8.8B | $1.5B | 16.6% | $29.3B | 48/100 |
| Dte Energy Co DTE | FY2025 | N/A | $1.5B | N/A | $28.2B | — |
| Firstenergy Corp FE | FY2025 | $15.1B | $1.0B | 6.8% | $27.0B | 43/100 |
| Eversource Energ ES | FY2025 | $13.5B | $1.7B | 12.6% | $26.4B | 52/100 |
Where PPL Ranks
Frequently Asked Questions
What is PPL's annual revenue?
PPL (PPL) reported $9.0B in total revenue for fiscal year 2025. This represents a 6.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is PPL's revenue growing?
PPL (PPL) revenue grew by 6.9% year-over-year, from $8.5B to $9.0B in fiscal year 2025.
Is PPL profitable?
Yes, PPL (PPL) reported a net income of $1.2B in fiscal year 2025, with a net profit margin of 13.1%.
What is PPL's EBITDA?
PPL (PPL) had EBITDA of $3.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does PPL have?
As of fiscal year 2025, PPL (PPL) had $1.1B in cash and equivalents against $18.0B in long-term debt.
What is PPL's operating margin?
PPL (PPL) had an operating margin of 23.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is PPL's net profit margin?
PPL (PPL) had a net profit margin of 13.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does PPL pay dividends?
Yes, PPL (PPL) paid $1.09 per share in dividends during fiscal year 2025.
What is PPL's return on equity (ROE)?
PPL (PPL) has a return on equity of 7.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is PPL's free cash flow?
PPL (PPL) recorded an outflow of $1.4B in free cash flow during fiscal year 2025. This represents a -201.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is PPL's operating cash flow?
PPL (PPL) generated $2.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are PPL's total assets?
PPL (PPL) had $45.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are PPL's capital expenditures?
PPL (PPL) invested $4.0B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is PPL's current ratio?
PPL (PPL) had a current ratio of 0.86 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is PPL's debt-to-equity ratio?
PPL (PPL) had a debt-to-equity ratio of 1.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is PPL's return on assets (ROA)?
PPL (PPL) had a return on assets of 2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is PPL's P/E ratio?
PPL (PPL) trades at 21.3x earnings, its market capitalization divided by net income of $1.2B net income, trailing 12 months to March 31, 2026. The market capitalization is $25.9B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is PPL's price-to-sales ratio?
PPL (PPL) trades at 2.8x sales, its market capitalization divided by revenue of $9.3B revenue, trailing 12 months to March 31, 2026. The market capitalization is $25.9B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is PPL's Altman Z-Score?
PPL (PPL) has an Altman Z-Score of 0.95, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is PPL's Piotroski F-Score?
PPL (PPL) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are PPL's earnings high quality?
PPL (PPL) has an earnings quality ratio of 2.23x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can PPL cover its interest payments?
PPL (PPL) has an interest coverage ratio of 2.63x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is PPL?
PPL (PPL) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.