PPLNYSEElectric ServicesFiscal year ends December 31Also trades as PPLC
PPL Corp
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Aug 7, 2026
$34.31−0.86 (-2.45%)
Close on Oct 19, 2026
- Market cap
- $25.98B
- P/E (TTM)
- 20.9
- Dividend yield
- 3.18%
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
23.5%−5.4 pts over 5 years
Net margin
13.1%−13.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +6.9% | +4.6% | +10.6% | +1.7% | |
| Operating income | +22.4% | +15.7% | +6.1% | -2.8% | |
| Net income | +33.0% | +16.0% | -4.3% | – | |
| EPS, diluted | +32.5% | +15.9% | -3.6% | +4.6% | |
| Dividend per share | +5.8% | +7.6% | -8.1% | -3.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 19.2% | 11.1% | – | |
| Return on assets | 4.9% | 3.1% | 2.7% | |
| Current ratio | 0.54 | 1.39 | 0.86 | |
| Debt to equity | 1.94 | 1.19 | – | |
| Interest coverage | 3.3× | 2.5× | 2.6× | |
| Capex to revenue | 38.8% | 41.5% | 44.6% | |
| Diluted shares | 680M | 769M | 743M |
Where the cash went
Fiscal 2021 to 2025, five years combined
PPL generated $10.73B from operations and spent $18.67B on capital expenditure, dividends and share buybacks. 72% of that went back into the business.
Generated
$10.73B
Used
$18.67B
Capital expenditure$13.35B72%Dividends$4.31B23%Share buybacks$1.00B5%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.9%
×Asset turnover0.22×
×Equity multiplier2.77×
=Return on equity, FY20235.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2023 | 8.9% | 0.22× | 2.77× | 5.3% |
| FY2022 | 9.6% | 0.22× | 2.57× | 5.5% |
| FY2021 | -25.6% | 0.14× | 3.00× | -10.9% |
| FY2020 | 26.8% | 0.12× | 3.56× | 11.1% |
| FY2019 | 31.2% | 0.13× | 3.61× | 14.2% |
| FY2018 | 23.5% | 0.18× | 3.79× | 16.3% |
| FY2017 | 15.1% | 0.19× | 3.86× | 10.9% |
| FY2016 | 25.3% | 0.19× | 3.92× | 19.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.18B
- Cash generatingOperating cash flow above zero$2.63B
- Return on assets improvedROA up on the prior year2.3% → 2.9%
- Earnings backed by cashOperating cash flow above net income$2.63B vs $1.18B
- Less leverageLong-term debt to assets fell38.8% → 39.8%
- Better liquidityCurrent ratio rose0.86 → 0.86
- No dilutionShare count did not rise740M → 743M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.22 → 0.22