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Financials · PPL

PPL Corporation (PPL) financials

For the twelve months ended Mar 31, 2026, PPL Corporation reported $9.41B of revenue and $1.22B of net income.

Revenue, TTM
$9.41B
Revenue growth, YoY
+8.0%
Net income, TTM
$1.22B
Net income growth, YoY
+22.5%
Net margin
13.0%
Free cash flow, TTM
-$1.62B
Cash
$1.24B
Total debt
$20.02B
P/E
22.10
P/S
2.86
Market cap
$26.94B
Annual revenue$9.17B
FY2016FY2025
Annual net income$1.18B
FY2016FY2025
Annual free cash flow-$1.40B
FY2016FY2025

PPL revenue and earnings growth

PPL revenueQ1 2026$2.79B

Quarter YoY
+9.4%
QoQ
+18.7%
FY YoY
+8.4%
5Y CAGR
+10.9%
10Y CAGR
+1.8%

PPL revenue was $2.79B in fiscal Q1 2026 (ended Mar 31, 2026), up 9.4% from a year earlier and up 18.7% from the prior quarter. For the full fiscal 2025 it was $9.17B, up 8.4% from fiscal 2024. Compound annual growth was +10.9% over 5 years and +1.8% over 10 years. It rose in 6 of the last 10 fiscal years.

PPL net incomeQ1 2026$452.00M

Quarter YoY
+9.2%
QoQ
+69.9%
FY YoY
+33.0%
5Y CAGR
-4.3%
10Y CAGR
+5.7%

PPL net income was $452.00M in fiscal Q1 2026 (ended Mar 31, 2026), up 9.2% from a year earlier and up 69.9% from the prior quarter. For the full fiscal 2025 it was $1.18B, up 33.0% from fiscal 2024. Compound annual growth was -4.3% over 5 years and +5.7% over 10 years. It rose in 2 of the last 3 fiscal years.

PPL EPSQ4 2025$0.35

Quarter YoY
+52.2%
QoQ
-18.6%
FY YoY
+32.5%
5Y CAGR
-3.6%
10Y CAGR
+4.6%

PPL diluted EPS was $0.35 in fiscal Q4 2025 (ended Dec 31, 2025), up 52.2% from a year earlier and down 18.6% from the prior quarter. For the full fiscal 2025 it was $1.59, up 32.5% from fiscal 2024. Compound annual growth was -3.6% over 5 years and +4.6% over 10 years.

PPL free cash flowQ1 2026-$501.00M

PPL free cash flow was -$501.00M in fiscal Q1 2026 (ended Mar 31, 2026), compared with -$280.00M a year earlier. For the full fiscal 2025 it was -$1.40B, compared with -$465.00M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$9.17B$8.46B$8.31B$7.90B$5.84B$5.47B$5.60B$7.79B$7.45B$7.52B
Operating income$2.13B$1.74B$1.63B$1.37B$1.42B$1.59B$1.53B$2.85B$2.90B$2.94B
Interest expense$808.00M$738.00M$666.00M$513.00M$918.00M$634.00M$621.00M$963.00M$901.00M$888.00M
Pre-tax income$1.47B$1.12B$924.00M$915.00M$521.00M$954.00M$919.00M$2.29B$1.91B$2.55B
Income tax$291.00M$228.00M$184.00M$201.00M$503.00M$314.00M$183.00M$458.00M$784.00M$648.00M
Net income$1.18B$888.00M$740.00M$756.00M-$1.48B$1.47B$1.75B$1.83B$1.13B$1.90B
EPS, basic$1.60$1.20$1.00$1.03-$1.93$1.91$2.39$2.59$1.64$2.80
EPS, diluted$1.59$1.20$1.00$1.02-$1.93$1.91$2.37$2.58$1.64$2.79
Diluted shares743.3M739.9M738.2M736.9M764.8M769.4M736.8M708.6M687.3M680.4M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$1.07B$339.00M$382.00M$357.00M$3.57B$443.00M$660.00M$621.00M$511.00M$372.00M
Receivables$1.11B$961.00M$950.00M$896.00M$583.00M$603.00M$687.00M$663.00M$681.00M$666.00M
Inventory$551.00M$511.00M$505.00M$443.00M$322.00M$302.00M$332.00M$303.00M$320.00M$356.00M
Current assets$3.93B$2.88B$2.93B$2.82B$5.01B$20.90B$2.77B$2.43B$2.29B$2.07B
Goodwill$2.25B$2.25B$2.25B$2.25B$716.00M$716.00M$3.20B$3.16B$3.26B$3.06B
Total assets$45.24B$41.07B$39.24B$37.84B$33.22B$48.12B$45.68B$43.40B$41.48B$38.31B
Current liabilities$4.55B$3.33B$3.34B$3.79B$2.32B$15.05B$4.90B$4.56B$4.02B$3.84B
Short-term debt$904.00M$551.00M$1.00M$354.00M$474.00M$1.07B$1.17B$530.00M$348.00M$518.00M
Long-term debt$17.99B$15.95B$14.61B$12.89B$10.67B$13.62B$20.72B$20.07B$19.85B$17.81B
Total debt$18.89B$16.50B$14.61B$13.24B$11.14B$14.69B$21.89B$20.60B$20.20B$18.33B
Total liabilities$30.36B$26.99B$25.30B$23.92B$19.50B$34.74B$32.69B---
Shareholders' equity$14.88B$14.08B$13.93B$13.92B$13.72B$13.37B$12.99B$11.66B$10.76B$9.90B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$2.63B$2.34B$1.76B$1.73B$2.27B$2.75B$2.43B$2.82B$2.46B$2.89B
Capital expenditures$4.03B$2.81B$2.39B$2.15B$1.97B$2.27B$2.24B$3.24B$3.13B$2.92B
Free cash flow-$1.40B-$465.00M-$632.00M-$425.00M$297.00M$476.00M$184.00M-$417.00M-$672.00M-$30.00M
Investing cash flow-$4.00B-$2.82B-$2.38B-$5.65B$7.96B-$3.26B-$3.08B-$3.36B-$3.16B-$2.93B
Financing cash flow$2.12B$435.00M$650.00M$709.00M-$7.39B$386.00M$836.00M$690.00M$824.00M-$439.00M
Dividends paid$794.00M$747.00M$704.00M$787.00M$1.28B$1.27B$1.19B$1.13B$1.07B$1.03B
Share repurchases--$0$0$1.00B$0$0---
Stock-based compensation$49.00M$46.00M$33.00M$37.00M$37.00M$29.00M$36.00M$26.00M$38.00M$28.00M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY8.4%1.8%5.2%35.4%6.6%-2.3%-28.0%4.5%-0.9%-2.0%
Net income growth, YoY33.0%20.0%-2.1%---15.9%-4.4%62.0%-40.7%179.7%
EPS growth, YoY32.5%20.0%-2.0%---19.4%-8.1%57.3%-41.2%176.2%
Operating margin23.2%20.6%19.6%17.4%24.4%29.0%27.2%36.6%39.0%39.1%
Net margin12.9%10.5%8.9%9.6%-25.4%26.8%31.2%23.5%15.1%25.3%
Free cash flow margin-15.3%-5.5%-7.6%-5.4%5.1%8.7%3.3%-5.4%-9.0%-0.4%
Return on equity7.9%6.3%5.3%5.4%-10.8%11.0%13.4%15.7%10.5%19.2%
Return on assets2.6%2.2%1.9%2.0%-4.5%3.1%3.8%4.2%2.7%5.0%
Current ratio0.860.860.880.752.161.390.560.530.570.54
Debt to equity1.271.171.050.950.811.101.691.771.881.85

Source: XBRL data PPL Corporation files with the SEC, latest filing dated May 8, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

PPL peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
PPL$9.41B+8.0%$1.22B13.0%$26.94B
NEE$27.87B+10.3%$8.18B29.4%$182.35B
SO$30.17B+7.9%$4.34B14.4%$106.22B
CEG$31.27B+26.0%$3.48B11.1%$88.56B
AEP$22.43B+9.3%$3.72B16.6%$68.90B
D$17.52B+17.5%$2.95B16.9%$60.33B
ETR$13.29B+11.4%$1.79B13.4%$52.82B
VST$19.60B+4.1%$2.22B11.3%$41.89B
FTSC$12.17B+5.8%C$1.71B14.1%$31.00B

PPL FAQ

7 questions
  • What is PPL revenue?
    PPL Corporation (PPL) reported $9.41B of revenue for the twelve months ended Mar 31, 2026. That is up 8.0% from the year before. Revenue for fiscal 2025 was $9.17B.
  • Is PPL profitable?
    Yes. PPL Corporation earned $1.22B in net income for the twelve months ended Mar 31, 2026, a net margin of 13.0%.
  • How much cash and debt does PPL have?
    PPL Corporation reported $1.24B in cash and cash equivalents and $20.02B of debt on its most recent balance sheet in SEC filings.
  • How fast is PPL revenue growing?
    PPL Corporation's revenue changed +8.4% in fiscal 2025, to $9.17B. Its compound annual growth rate was +10.9% over 5 years and +1.8% over 10 years.
  • What is PPL free cash flow?
    PPL Corporation generated -$1.62B of free cash flow for the twelve months ended Mar 31, 2026, which is operating cash flow of $2.67B less capital expenditures.
  • When did PPL last report financial results?
    The latest statements here come from PPL Corporation's 10-Q filed on May 8, 2026, covering the period ended Mar 31, 2026.
  • Where does this PPL financial data come from?
    Quantisnow builds these statements from the structured XBRL data PPL Corporation files with the SEC. It is provided for information only and is not investment advice.