PPL
PPL CorporationStock · UtilitiesS&P 500 Equal Weight 0.2% · S&P 500 0.04% · Russell 1000 0.04% · Russell 3000 0.04% · US Stock Market 0.04% · MSCI World 0.03% · MSCI ACWI 0.03%$34.08-0.38%
as of market close, Sep 11, 2026
☾ AH — —
PPL financial statements
The full income statement, balance sheet, and cash-flow statement for PPL Corporation (PPL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2023-12 737.6M2024-03 737.7M2024-12 738.3M2025-03 739.3M2025-06 739.5M2025-09 739.7M2025-12 751.3M2026-03 752.4M2026-06 752.5M+2.0% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 9.17B+8.6% | 8.44B+1.9% | 8.29B+6.5% | 7.79B+33.4% | 5.84B+7.5% | ||
| Lease income | 0.00-100.0% | 4.00M-33.3% | 6.00M+0.0% | 6.00M-45.5% | 11.0M-31.3% | |
| Provision for credit losses | 101M-1.9% | 103M+30.4% | 79.0M+12.9% | 70.0M+218.2% | 22.0M-12.0% | |
| Operating income | 2.13B+22.4% | 1.74B+6.7% | 1.63B+18.6% | 1.37B-3.5% | 1.42B-10.2% | |
| Interest expense | 808M+9.5% | 738M+10.8% | 666M+29.8% | 513M-44.1% | 918M+44.8% | |
| Other non-operating income | 151M+32.5% | 114M+385.0% | -40.0M-174.1% | 54.0M+260.0% | 15.0M+650.0% | |
| Pre-tax income | 1.47B+31.9% | 1.12B+20.8% | 924M+1.0% | 915M+75.6% | 521M-45.4% | |
| Income tax | 291M+27.6% | 228M+23.9% | 184M-8.5% | 201M-60.0% | 503M+60.2% | |
| 1.18B+33.0% | 888M+20.0% | 740M-2.1% | 756M+151.1% | -1.48B-200.7% | ||
| Income from continuing operations | — | 888M+20.0% | 740M+3.6% | 714M+3866.7% | 18.0M-97.2% | |
| Net income to common | 1.18B+33.1% | 886M+19.9% | 739M-2.1% | 755M+151.0% | -1.48B-200.8% | |
| $1.59+32.5% | $1.20+20.0% | $1.00-2.0% | $1.02+152.8% | -$1.93-201.0% | ||
| EPS (basic) | $1.60+33.3% | $1.20+20.0% | $1.00-2.9% | $1.03+153.4% | -$1.93-201.0% | |
| Weighted-avg shares (basic) | 739M+0.2% | 738M+0.1% | 737M+0.1% | 736M-3.5% | 763M-0.7% | |
| Weighted-avg shares (diluted) | 743M+0.5% | 740M+0.2% | 738M+0.2% | 737M-3.7% | 765M-0.6% | |
| Dividends per share | $1.09+5.8% | $1.03+7.3% | $0.96+9.7% | $0.88-47.3% | $1.66+0.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 3.93B+36.5% | 2.88B-1.8% | 2.93B+3.8% | 2.82B-43.6% | 5.01B-76.0% | ||
| Cash & equivalents | 1.07B+250.0% | 306M-7.6% | 331M-7.0% | 356M-90.0% | 3.57B+707.9% | |
| Accounts receivable | 1.11B+15.3% | 961M+1.2% | 950M+6.0% | 896M+53.7% | 583M-3.3% | |
| Inventory | 551M+7.8% | 511M+1.2% | 505M+14.0% | 443M+37.6% | 322M+6.6% | |
| Prepaid expenses | 106M-22.1% | 136M+32.0% | 103M+12.0% | 92.0M+53.3% | 60.0M+13.2% | |
| Other current assets | 112M+31.8% | 85.0M+66.7% | 51.0M-33.8% | 77.0M+83.3% | 42.0M-67.7% | |
| 45.2B+10.2% | 41.1B+4.7% | 39.2B+3.7% | 37.8B+13.9% | 33.2B-31.0% | ||
| Property, plant & equipment | 36.1B+9.0% | 33.1B+5.5% | 31.4B+3.9% | 30.2B+18.7% | 25.5B+4.0% | |
| Operating lease right-of-use | 0.00 | 0.00-100.0% | 74.0M+23.3% | 60.0M | — | |
| Goodwill | 2.25B+0.0% | 2.25B+0.0% | 2.25B-0.0% | 2.25B+214.0% | 716M+0.0% | |
| Intangible assets | 327M+4.1% | 314M+2.6% | 306M-2.2% | 313M-8.7% | 343M-2.3% | |
| Other non-current assets | 515M+22.9% | 419M-8.7% | 459M+16.2% | 395M-12.4% | 451M+16.5% | |
| Total non-current assets | 5.18B+2.8% | 5.04B+3.2% | 4.89B+2.3% | 4.78B+73.9% | 2.75B+1.1% | |
| 4.55B+36.4% | 3.33B-0.2% | 3.34B-11.9% | 3.79B+63.1% | 2.32B-84.6% | ||
| Accounts payable | 1.56B+30.4% | 1.20B+8.3% | 1.10B-8.1% | 1.20B+76.9% | 679M-8.9% | |
| Short-term & current debt | 904M+64.1% | 551M-44.9% | 1.00B+182.5% | 354M-25.3% | 474M-55.9% | |
| Current lease liability | 0.00 | 0.00-100.0% | 21.0M-4.5% | 22.0M+0.0% | 22.0M | |
| Other current liabilities | 668M+8.8% | 614M+3.9% | 591M-5.3% | 624M+42.8% | 437M-6.0% | |
| Finance lease liability (current) | 0.00 | 0.00-100.0% | 1.00M | — | — | |
| Long-term debt | 18.0B+12.8% | 16.0B+9.2% | 14.6B+13.4% | 12.9B+20.8% | 10.7B-21.7% | |
| Non-current lease liability | 0.00 | 0.00-100.0% | 63.0M+50.0% | 42.0M-10.6% | 47.0M | |
| Finance lease liability | 0.00 | 0.00-100.0% | 6.00M | — | — | |
| Deferred tax liabilities | 3.51B+4.5% | 3.36B+8.1% | 3.10B+3.3% | 3.01B-4.6% | 3.15B+24.3% | |
| Other non-current liabilities | 480M+6.2% | 452M+17.4% | 385M+6.6% | 361M-24.6% | 479M-15.1% | |
| Total non-current liabilities | 7.83B+1.6% | 7.71B+4.8% | 7.35B+1.5% | 7.24B+11.2% | 6.51B+7.2% | |
| 14.9B+5.7% | 14.1B+1.0% | 13.9B+0.1% | 13.9B+1.4% | 13.7B+2.6% | ||
| Common stock | 8.00M+0.0% | 8.00M+0.0% | 8.00M+0.0% | 8.00M+0.0% | 8.00M+0.0% | |
| Additional paid-in capital | 12.4B+0.8% | 12.3B+0.2% | 12.3B+0.1% | 12.3B+0.1% | 12.3B+0.3% | |
| Retained earnings | 3.21B+13.1% | 2.83B+4.6% | 2.71B+1.1% | 2.68B+4.2% | 2.57B-51.6% | |
| Treasury stock | 575M-38.0% | 928M-2.1% | 948M-2.0% | 967M-3.6% | 1.00B | |
| Accumulated other comprehensive income | -202M-9.8% | -184M-12.9% | -163M-31.5% | -124M+21.0% | -157M+96.3% | |
| Non-controlling interest | — | — | 0.00-100.0% | 3.00M | 0.00 | |
| Total equity incl. non-controlling | 14.9B+5.7% | 14.1B+1.0% | 13.9B+0.1% | 13.9B+1.4% | 13.7B+2.6% | |
| Total liabilities & equity | 45.2B+10.2% | 41.1B+4.7% | 39.2B+3.7% | 37.8B+13.9% | 33.2B-31.0% | |
| Common shares issued | 771M+0.1% | 770M+0.0% | 770M+0.0% | 770M+0.0% | 770M+0.1% | |
| Common shares outstanding | 751M+1.8% | 738M+0.1% | 737M+0.1% | 736M+0.2% | 735M-4.4% | |
| Shares outstanding (cover) | 751M+1.8% | 738M+0.1% | 738M+0.1% | 737M+0.2% | 735M-4.4% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.63B+12.4% | 2.34B+33.1% | 1.76B+1.6% | 1.73B-23.8% | 2.27B-17.3% | ||
| Depreciation & amortization | 1.31B+2.6% | 1.28B+2.0% | 1.25B+6.2% | 1.18B+9.1% | 1.08B+5.9% | |
| Share-based compensation | 49.0M+6.5% | 46.0M+39.4% | 33.0M-10.8% | 37.0M+0.0% | 37.0M+27.6% | |
| Deferred income taxes | 199M-1.0% | 201M-39.8% | 334M+75.8% | 190M-63.2% | 516M+56.4% | |
| Change in inventory | 28.0M+1300.0% | 2.00M-96.7% | 60.0M-33.3% | 90.0M+328.6% | 21.0M+133.3% | |
| -4.00B-42.1% | -2.82B-18.3% | -2.38B+57.9% | -5.65B-171.1% | 7.96B+344.2% | ||
| Capital expenditure | 4.03B+43.7% | 2.81B+17.4% | 2.39B+10.9% | 2.15B+9.2% | 1.97B-13.1% | |
| Free cash flow | -1.40B-201.3% | -465M+26.4% | -632M-48.7% | -425M-243.1% | 297M-37.6% | |
| Acquisitions | 0.00 | 0.00 | 0.00-100.0% | 3.66B | 0.00 | |
| Other investing activities | -26.0M-300.0% | 13.0M+285.7% | -7.00M+53.3% | -15.0M-165.2% | 23.0M+675.0% | |
| 2.12B+387.8% | 435M-33.1% | 650M-8.3% | 709M+109.6% | -7.39B-2014.5% | ||
| Long-term debt issued | 3.04B+60.8% | 1.89B-41.8% | 3.25B+282.6% | 850M+30.8% | 650M-64.8% | |
| Long-term debt repaid | 616M | 0.00-100.0% | 1.85B+602.3% | 264M-94.3% | 4.61B+372.4% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 9.00M-73.5% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 1.00B | |
| Dividends paid | 794M+6.3% | 747M+6.1% | 704M-10.5% | 787M-38.5% | 1.28B+0.3% | |
| Other financing activities | -26.0M-333.3% | -6.00M+40.0% | -10.0M-66.7% | -6.00M+14.3% | -7.00M-104.1% | |
| Net change in cash | 747M+1837.2% | -43.0M-272.0% | 25.0M+100.8% | -3.21B-202.7% | 3.13B+1541.9% | |
| Interest paid | 745M+11.2% | 670M+10.9% | 604M+30.7% | 462M+141.9% | 191M-67.4% | |
| Income taxes paid | 93.0M+175.6% | -123M-143.8% | 281M+72.4% | 163M-42.6% | 284M+7000.0% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 26.3B+9.8% | 24.0B+20.0% | 20.0B-7.2% | 21.5B-2.7% | 22.1B+1.9% | |
| P/E | 22.3×-17.4% | 27.0×+2.1% | 26.4×+11.4% | 23.7× | — | |
| P/S | 2.9×+1.1% | 2.8×+10.6% | 2.6×+2.5% | 2.5×-33.9% | 3.8×-5.2% | |
| P/B | 1.8×+3.9% | 1.7×+19.6% | 1.4×-8.2% | 1.5×-3.8% | 1.6×-0.7% | |
| P/FCF | — | — | — | — | 74.4×+63.4% | |
| Earnings yield | 4.5%+21.1% | 3.7%-2.1% | 3.8%-10.2% | 4.2% | — | |
| FCF yield | — | — | — | — | 1.3%-38.8% | |
| Dividend yield | 3.1%-1.9% | 3.2%-10.4% | 3.5%+18.3% | 3.0%-45.8% | 5.5%-6.2% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: PPL’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PPL filings on SEC EDGAR → Not investment advice.