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.

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	9.04B YoY+16.1%	7.79B YoY+33.4%	5.84B YoY+7.5%
Provision for credit losses	—	70.0M YoY+218.2%	22.0M YoY-12.0%
Operating income	2.13B YoY+54.9%	1.37B YoY-3.5%	1.42B YoY-10.2%
Interest expense	808M YoY+57.5%	513M YoY-44.1%	918M YoY+44.8%
Other non-operating income	151M YoY+179.6%	54.0M YoY+260.0%	15.0M YoY+650.0%
Pre-tax income	1.47B YoY+60.9%	915M YoY+75.6%	521M YoY-45.4%
Income tax	291M YoY+44.8%	201M YoY-60.0%	503M YoY+60.2%
	1.18B YoY+56.2%	756M YoY+151.1%	-1.48B YoY-200.7%
Income from continuing operations	—	714M YoY+3866.7%	18.0M YoY-97.2%
Net income to common	—	755M YoY+151.0%	-1.48B YoY-200.8%
	—	$1.02 YoY+152.8%	-$1.93 YoY-201.0%
EPS (basic)	—	$1.03 YoY+153.4%	-$1.93 YoY-201.0%
	739M YoY+0.5%	736M YoY-3.5%	763M YoY-0.7%
	743M YoY+0.9%	737M YoY-3.7%	765M YoY-0.6%
Dividends per share	—	$0.88 YoY-47.3%	$1.66 YoY+0.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’22	as ofDec 31 ’21
	3.93B YoY+39.2%	2.82B YoY-43.6%	5.01B YoY-76.0%
Cash & equivalents	1.07B YoY+200.8%	356M YoY-90.0%	3.57B YoY+707.9%
Accounts receivable	1.11B YoY+23.7%	896M YoY+53.7%	583M YoY-3.3%
Inventory	551M YoY+24.4%	443M YoY+37.6%	322M YoY+6.6%
Prepaid expenses	106M YoY+15.2%	92.0M YoY+53.3%	60.0M YoY+13.2%
Other current assets	112M YoY+45.5%	77.0M YoY+83.3%	42.0M YoY-67.7%
	45.2B YoY+19.6%	37.8B YoY+13.9%	33.2B YoY-31.0%
Property, plant & equipment	36.1B YoY+19.5%	30.2B YoY+18.7%	25.5B YoY+4.0%
Operating lease right-of-use	0.00 YoY-100.0%	60.0M	—
Goodwill	2.25B YoY-0.0%	2.25B YoY+214.0%	716M YoY+0.0%
Intangible assets	327M YoY+4.5%	313M YoY-8.7%	343M YoY-2.3%
Other non-current assets	515M YoY+30.4%	395M YoY-12.4%	451M YoY+16.5%
Total non-current assets	5.18B YoY+8.5%	4.78B YoY+73.9%	2.75B YoY+1.1%
	4.55B YoY+20.0%	3.79B YoY+63.1%	2.32B YoY-84.6%
Accounts payable	1.56B YoY+29.8%	1.20B YoY+76.9%	679M YoY-8.9%
Short-term & current debt	904M YoY+155.4%	354M YoY-25.3%	474M YoY-55.9%
Current lease liability	0.00 YoY-100.0%	22.0M YoY+0.0%	22.0M
Other current liabilities	668M YoY+7.1%	624M YoY+42.8%	437M YoY-6.0%
Long-term debt	18.0B YoY+39.6%	12.9B YoY+20.8%	10.7B YoY-21.7%
Non-current lease liability	0.00 YoY-100.0%	42.0M YoY-10.6%	47.0M
Deferred tax liabilities	3.51B YoY+16.6%	3.01B YoY-4.6%	3.15B YoY+24.3%
Other non-current liabilities	480M YoY+33.0%	361M YoY-24.6%	479M YoY-15.1%
Total non-current liabilities	7.83B YoY+8.1%	7.24B YoY+11.2%	6.51B YoY+7.2%
	14.9B YoY+6.9%	13.9B YoY+1.4%	13.7B YoY+2.6%
Common stock	8.00M YoY+0.0%	8.00M YoY+0.0%	8.00M YoY+0.0%
Additional paid-in capital	12.4B YoY+1.0%	12.3B YoY+0.1%	12.3B YoY+0.3%
Retained earnings	3.21B YoY+19.6%	2.68B YoY+4.2%	2.57B YoY-51.6%
Treasury stock	575M YoY-40.5%	967M YoY-3.6%	1.00B
Accumulated other comprehensive income	-202M YoY-62.9%	-124M YoY+21.0%	-157M YoY+96.3%
Non-controlling interest	—	3.00M	0.00
Total equity incl. non-controlling	14.9B YoY+6.9%	13.9B YoY+1.4%	13.7B YoY+2.6%
Total liabilities & equity	45.2B YoY+19.6%	37.8B YoY+13.9%	33.2B YoY-31.0%
	771M YoY+0.1%	770M YoY+0.0%	770M YoY+0.1%
	751M YoY+2.0%	736M YoY+0.2%	735M YoY-4.4%
	751M YoY+2.0%	737M YoY+0.2%	735M YoY-4.4%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’22	as ofDec 31 ’21
	2.63B YoY+52.0%	1.73B YoY-23.8%	2.27B YoY-17.3%
Depreciation & amortization	1.31B YoY+11.1%	1.18B YoY+9.1%	1.08B YoY+5.9%
Share-based compensation	49.0M YoY+32.4%	37.0M YoY+0.0%	37.0M YoY+27.6%
Deferred income taxes	—	190M YoY-63.2%	516M YoY+56.4%
Change in inventory	28.0M YoY-68.9%	90.0M YoY+328.6%	21.0M YoY+133.3%
	-4.00B YoY+29.2%	-5.65B YoY-171.1%	7.96B YoY+344.2%
Capital expenditure	4.03B YoY+87.0%	2.15B YoY+9.2%	1.97B YoY-13.1%
Free cash flow	-1.40B YoY-229.6%	-425M YoY-243.1%	297M YoY-37.6%
Acquisitions	0.00 YoY-100.0%	3.66B	0.00
Other investing activities	-26.0M YoY-73.3%	-15.0M YoY-165.2%	23.0M YoY+675.0%
	2.12B YoY+199.3%	709M YoY+109.6%	-7.39B YoY-2014.5%
Long-term debt issued	3.04B YoY+258.2%	850M YoY+30.8%	650M YoY-64.8%
Long-term debt repaid	616M YoY+133.3%	264M YoY-94.3%	4.61B YoY+372.4%
Common stock issued	0.00	0.00 YoY-100.0%	9.00M YoY-73.5%
Common stock repurchased	0.00	0.00 YoY-100.0%	1.00B
Dividends paid	794M YoY+0.9%	787M YoY-38.5%	1.28B YoY+0.3%
Other financing activities	-26.0M YoY-333.3%	-6.00M YoY+14.3%	-7.00M YoY-104.1%
Net change in cash	747M YoY+123.2%	-3.21B YoY-202.7%	3.13B YoY+1541.9%
Interest paid	745M YoY+61.3%	462M YoY+141.9%	191M YoY-67.4%
Income taxes paid	93.0M YoY-42.9%	163M YoY-42.6%	284M YoY+7000.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	26.3B YoY+22.3%	21.5B YoY-2.7%	22.1B YoY+1.9%
P/E	22.3× YoY-6.1%	23.7×	—
P/S	2.9× YoY+16.2%	2.5× YoY-33.9%	3.8× YoY-5.2%
P/B	1.8× YoY+14.1%	1.5× YoY-3.8%	1.6× YoY-0.7%
P/FCF	—	—	74.4× YoY+63.4%
	4.5% YoY+6.5%	4.2%	—
	—	—	1.3% YoY-38.8%
	—	3.0% YoY-45.8%	5.5% YoY-6.2%
Source filing	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.