PPL Financials PPL Corporation

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 28 h ago Overview →

Growth & profitability

Revenue has grown 11.1% per year over the past 5 years.
Net income has grown slower than revenue (-4.3% vs 11.1% per year).
Operating margin has contracted, at 23.2% in the latest year.

Financial health

Total debt ($19.4B) exceeds cash ($1.1B); net debt is $18.3B.
Total debt has grown slower than revenue (4.1% vs 11.1% per year).
Operating income covered interest expense 2.6× in the latest year, up from 2.5× 5 years ago.
Total debt is 9.1× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 67.2% of earnings.
The dividend has declined 9.0% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2025	$9.2B	$1.2B	0.0%	23.2%	-$1.4B	$19.4B	$1.1B
2024	$8.4B	$888M	0.0%	20.6%	-$465M	$16.8B	$306M
2023	$8.3B	$740M	0.0%	19.7%	-$632M	$15.6B	$331M
2022	$7.8B	$756M	0.0%	17.6%	-$425M	$14.2B	$356M
2021	$5.8B	-$1.5B	0.0%	24.4%	$297M	$11.2B	$3.6B
2020	$5.4B	$1.5B	0.0%	29.2%	$476M	$15.9B	$442M
2019	$5.5B	$1.7B	0.0%	27.5%	$184M	$23.0B	$815M
2018	$7.8B	$1.8B	0.0%	36.7%	-$417M	$22.0B	$621M
2017	—	$1.1B	—	—	-$672M	$21.3B	$485M
2016	—	$1.9B	—	—	-$30M	$19.2B	$341M
2014	—	$1.7B	—	—	-$271M	$18.9B	$1.4B
2013	—	$1.1B	—	—	-$773M	$21.6B	$863M
2012	—	$1.5B	—	—	-$341M	$20.1B	$488M
2011	—	$1.5B	—	—	$20M	$18.6B	$1.2B
2010	—	$938M	—	—	$436M	$13.4B	$925M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Mar '26	$2.8B	$452M	0.0%	26.8%	-$501M	$20.2B	$1.2B
Dec '25	$2.3B	$266M	0.0%	20.3%	-$614M	$19.4B	$1.1B
Sep '25	$2.2B	$318M	0.0%	25.4%	-$179M	$19.0B	$1.1B
Jun '25	$2.0B	$183M	0.0%	19.9%	-$328M	$17.8B	$294M
Mar '25	$2.5B	$414M	0.0%	26.6%	-$280M	$17.3B	$312M
Dec '24	$2.2B	$177M	0.0%	17.2%	-$349M	$16.8B	$306M
Sep '24	$2.1B	$214M	0.0%	20.6%	$102M	$16.5B	$542M
Jun '24	$1.9B	$190M	0.0%	20.8%	$96M	$16.1B	$282M
Mar '24	$2.3B	$307M	0.0%	23.7%	-$314M	$16.0B	$276M
Sep '23	$2.0B	$230M	0.0%	21.4%	$155M	$14.9B	$353M
Jun '23	$1.8B	$112M	0.0%	16.7%	-$179M	$14.8B	$326M
Mar '23	$2.4B	$285M	0.0%	20.4%	-$69M	$14.6B	$460M
Sep '22	$2.2B	$174M	0.0%	15.7%	$26M	$13.8B	$303M
Jun '22	$1.6B	$119M	0.0%	14.7%	-$105M	$13.6B	$336M
Mar '22	$1.7B	$273M	0.0%	26.0%	$75M	$12.1B	$4.2B
Dec '21	$1.5B	$134M	0.0%	20.6%	-$221M	$11.2B	$3.6B
Sep '21	$1.5B	$207M	0.0%	28.2%	-$34M	$11.1B	$4.8B
Jun '21	$1.3B	$19M	0.0%	20.7%	$360M	$13.3B	$7.6B
Mar '21	$1.5B	-$1.8B	0.0%	27.4%	$192M	$16.2B	$421M
Dec '20	$1.4B	$290M	0.0%	27.9%	-$81M	$15.9B	$442M

Valuation over time

How the market has priced PPL against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 27.7× (Mar '23) to 23.6× (Jun '26).
The price-to-sales ratio has risen from 2.7× (Mar '23) to 3.0× (Jun '26).
The dividend yield has fallen from 3.8% (Mar '23) to 2.9% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is PPL growing its revenue and profit?

Over the past 5 years, PPL Corporation's revenue has grown 11.1% per year, and net income declined 4.3% per year. These are computed facts, not advice.

How much debt does PPL have?

As of FY2025, PPL Corporation reported $19.4B of total debt against $1.1B of cash; operating income covered interest expense 2.6×.

What is PPL's profit margin?

In FY2025, gross margin was —, operating margin 23.2%, and net margin 12.9%.

What is PPL's P/E ratio?

As of Jun '26, PPL Corporation traded at a price-to-earnings ratio of about 23.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.