Logo

PPL

PPL Corporation

PPL

PPL Corporation • NYSE
$36.90 ▲ 0.52% (+0.19)
Market Cap $27.29 B
52w High $38.27
52w Low $31.22
Dividend Yield 1.07%
P/E 25.1
Volume 1.64M
Outstanding Shares 739.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.239B ▲ $431M ▲ $318M ▲ 14.203% ▲ $0.43 ▲ $949M ▲
Q2-2025 $2.025B ▼ $425M ▼ $183M ▼ 9.037% ▼ $0.25 ▼ $782M ▼
Q1-2025 $2.504B ▲ $435M ▲ $414M ▲ 16.534% ▲ $0.56 ▲ $1.048B ▲
Q4-2024 $2.211B ▲ $425M ▲ $177M ▼ 8.005% ▼ $0.24 ▼ $744M ▼
Q3-2024 $2.066B $412M $214M 10.358% $0.29 $796M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.119B ▲ $43.939B ▲ $29.526B ▲ $14.413B ▲
Q2-2025 $294M ▼ $42.363B ▲ $28.077B ▲ $14.286B ▼
Q1-2025 $312M ▲ $41.809B ▲ $27.512B ▲ $14.297B ▲
Q4-2024 $306M ▼ $41.069B ▲ $26.992B ▲ $14.077B ▼
Q3-2024 $542M $40.472B $26.38B $14.092B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $318M ▲ $966M ▲ $-1.147B ▼ $982M ▲ $801M ▲ $-179M ▲
Q2-2025 $183M ▼ $602M ▲ $-930M ▼ $306M ▲ $-22M ▼ $-328M ▼
Q1-2025 $414M ▲ $513M ▲ $-783M ▲ $271M ▲ $1M ▲ $-280M ▲
Q4-2024 $177M ▼ $511M ▼ $-874M ▼ $119M ▼ $-244M ▼ $-349M ▼
Q3-2024 $214M $781M $-683M $161M $259M $102M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Kentucky Regulated
Kentucky Regulated
 $860.00M ▲$1.06Bn ▲$840.00M ▼$940.00M ▲
Pennsylvania Regulated
Pennsylvania Regulated
 $720.00M ▲$820.00M ▲$700.00M ▼$790.00M ▲
Rhode Island Regulated
Rhode Island Regulated
 $620.00M ▲$670.00M ▲$510.00M ▼$510.00M ▲

Five-Year Company Overview

Income Statement

Income Statement PPL’s income statement shows a steady build in its core business. Revenue and operating profit have generally risen over the past five years, with recent years showing healthier, more stable earnings after a one‑time loss earlier in the period. Profitability has improved as the company has grown into its U.S.-focused structure, and earnings per share have been trending upward. Overall, it looks like a classic regulated utility pattern: slow but steady growth, with past restructuring noise now largely behind it.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive utility investing heavily in its networks. Total assets are sizable and have grown again after a prior step down, likely linked to portfolio changes. Debt has been climbing and sits at a meaningful level, but shareholder equity has also inched up, suggesting a broadly balanced capital structure for this type of business. Cash on hand is modest, which is typical for a regulated utility that relies on steady cash inflows rather than large cash reserves. The key watchpoints are ongoing leverage and how comfortably earnings and regulatory returns cover that debt load over time.

Cash Flow

Cash Flow PPL generates solid cash flow from its operations, which is a core strength for a regulated utility. However, it is plowing even more cash into capital projects than it generates, leading to negative free cash flow in recent years. This reflects an aggressive investment cycle in grid upgrades and other infrastructure, rather than weakness in the underlying business. It also means the company depends on external funding—mainly debt and potentially equity—to finance its growth and maintain shareholder payouts. The long‑term success of this cash‑intensive strategy hinges on earning fair returns on these projects through the regulatory process.

Competitive Edge

Competitive Edge PPL operates in regulated electric markets, where barriers to entry are high and returns are shaped by regulators rather than direct competition. Within that structure, its push into grid modernization, reliability, and customer service strengthens its standing with both customers and regulators. The move to focus solely on U.S. operations simplifies the business and aligns it with one regulatory environment. Its work on advanced grid capabilities and ability to serve growing loads such as data centers can further differentiate it from more traditional utilities. The main risks are regulatory decisions and the company’s ability to manage rising costs while keeping power affordable and service highly reliable.

Innovation and R&D

Innovation and R&D For a utility, PPL is unusually active in innovation and research. It is building out a smart, automated grid that uses sensors, analytics, and artificial intelligence to predict and respond to problems, reduce outages, and integrate more renewable energy. The company is involved in many research projects across storage, carbon management, and advanced generation, as well as digital tools that improve customer experience and interconnection of new resources. These efforts could enhance efficiency and support long‑term earnings, but not all projects will pay off, and timelines can be long and dependent on regulation. Still, relative to peers, PPL appears to be positioning itself as a technology‑forward utility rather than a slow‑moving incumbent.

Summary

Overall, PPL looks like a traditional regulated utility that is in the middle of a large, forward‑leaning investment cycle. The core business shows gradual growth and improving earnings after earlier restructuring noise, backed by strong operating cash flows. At the same time, rising debt and consistently negative free cash flow highlight the financial demands of its grid modernization and clean‑energy agenda. Competitively, it benefits from the natural protections of regulation while trying to widen its edge through advanced grid technology and customer‑centric innovations. The long‑term story largely depends on its execution of these large projects and on continued regulatory support for recovering its investments with reasonable returns.

NEWS

November 21, 2025 · 7:30 AM UTC

PPL to Pay Quarterly Stock Dividend Jan 2, 2026

Read more

November 19, 2025 · 8:22 PM UTC

PPL Capital Funding, Inc. announces pricing of $1 billion of 3.000% Exchangeable Senior Notes

Read more

November 19, 2025 · 6:50 AM UTC

PPL Capital Funding, Inc. announces proposed private placement of $1 billion of Exchangeable Senior Notes

Read more

November 5, 2025 · 7:30 AM UTC

PPL Corporation reports third-quarter 2025 results; narrows earnings forecast and reaffirms growth targets

Read more

October 20, 2025 · 5:11 PM UTC

LG&E and KU reach agreement with key stakeholders on rate requests that strengthen reliability and improve service for customers

Read more