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PPL Corp (PPL): Financial Statements and Key Figures

PPL Corp (ticker PPL) is classified by the SEC under industry code 4911, Electric Services, and is listed on NYSE. It files its annual report with the U.S. Securities and Exchange Commission (SEC) on Form 10-K and reports in US dollars. Its fiscal 2025 ended on 31 December 2025; the annual report for that year was filed on 20 February 2026. For that year it reported revenue of US$ 9,170 million, net income of US$ 1,181 million and total assets of US$ 45,244 million at the year end. Fiscal years 2016 to 2025 are shown below.

The figures are as the company filed them, standardised by reporting tag; the filing is the authority. For education and analysis, not investment advice.

Key Figures

Money in US$ millions; earnings per share in US dollars. Free cash flow is the cash from operating activities less capital expenditures. Total debt is short-term plus long-term debt, or the total the company itself tags when that is larger. A margin is the profit line divided by revenue; return on equity is net income divided by the average of shareholders' equity at the start and the end of the year. A blank cell means the company does not report the line under a standard tag; it does not mean zero.

Table 1: Key figures of PPL Corp by fiscal year
Fiscal year2016201720182019202020212022202320242025Last 12 months to 31 Mar 2026
year ended on31 Dec31 Dec31 Dec31 Dec31 Dec31 Dec31 Dec31 Dec31 Dec31 Decnot a fiscal year
Revenue (US$ millions)7,5177,4477,7855,6025,4745,8387,9028,3128,4629,1709,410
Net income (US$ millions)1,9021,1281,8271,7461,469−1,4807567408881,1811,219
Earnings per share, diluted (US$)2.791.642.582.371.91−1.931.021.001.201.59‡
Cash from operating activities (US$ millions)2,8902,4612,8212,4272,7462,2701,7301,7582,3402,6292,673
Free cash flow (US$ millions)−30−672−417184476297−425−632−465−1,401−1,622
Total assets (US$ millions)38,31541,47943,39645,68048,11633,22337,83739,23641,06945,24446,304
Total debt (US$ millions)19,24921,27522,02923,04415,85711,20914,22815,60416,80619,35020,238
Shareholders' equity (US$ millions)9,89910,76111,65712,99113,37313,72313,91513,93314,07714,88115,019
Gross margin
Operating margin39.1 %39.0 %36.6 %27.2 %29.0 %24.4 %17.4 %19.6 %20.6 %23.2 %23.3 %
Net margin25.3 %15.1 %23.5 %31.2 %26.8 %−25.4 %9.6 %8.9 %10.5 %12.9 %13.0 %
Return on equity19.2 %10.9 %16.3 %14.2 %11.1 %−10.9 %5.5 %5.3 %6.3 %8.2 %

The last column is not a fiscal year. It is the last twelve months to 31 March 2026: the last fiscal year, plus the year to date in the latest quarterly report (Form 10-Q, filed 8 May 2026), less the same year-to-date period a year before; total assets, total debt and equity are those of the quarterly balance sheet. Quarterly reports are unaudited interim data. The column enters no growth rate and no chart.

‡ Withheld: the tagged figure exists but is known to be incomplete or failed a stated check, so it is not shown (last twelve months: no year-to-date figure for this line in the latest quarterly report).

Charts

Figure 1: Revenue and net income by fiscal year (US$ millions)

Figure 2: Cash from operating activities and free cash flow by fiscal year (US$ millions)

Compound Growth

The compound annual growth rate is the single yearly rate that, applied every year, takes the first value to the last one: the last value divided by the first, raised to the power of one over the number of years, less one. It uses only the two end values, so an unusual first or last year moves it a great deal.

  • Revenue: 7,669 in fiscal 2015 to 9,170 in fiscal 2025 (US$ millions), 10 years: 1.8 % a year.
  • Diluted earnings per share: 1.01 in fiscal 2015 to 1.59 in fiscal 2025 (US dollars per share), 10 years: 4.6 % a year.

Analyse This Company

Each link opens a calculator with PPL Corp loaded from the same data.

  • Company Financial Statements: The full income statement, balance sheet and cash flow statement of each fiscal year, with common-size and growth views.
  • Capital Allocation History: Where the cash from operations went each year: capital expenditures, dividends, share repurchases, debt.
  • Dividend Sustainability: How the dividends paid compare with earnings and with free cash flow, year by year.
  • Earnings Quality Trend: How much of reported earnings arrived as cash, and how accruals moved over the years.
  • Reverse DCF: The growth in free cash flow that a share price you type would assume.
  • Financial Quality Scores: The Piotroski F-score and the DuPont breakdown of return on equity, worked step by step.
  • Valuation Range: What a share price you type corresponds to as multiples of earnings, cash flow and book value, against the company's own history.

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Same Industry

The first 12 in alphabetical order of the 15 other companies in the data with the industry code 4911 (Electric Services), in alphabetical order; the index lists every company.

Source

The annual report first filed for each fiscal year, with a link to its index page on EDGAR, the SEC's filing system. A later annual report repeats earlier years for comparison and sometimes restates them; where a value was taken from a later report, the last column gives the date of the latest one used.

Table 2: The filing behind each fiscal year
Fiscal yearYear endedFormFiledOn EDGARLater report used, filed
202531 Dec 2025Form 10-K20 Feb 2026filing index
202431 Dec 2024Form 10-K13 Feb 2025filing index20 Feb 2026
202331 Dec 2023Form 10-K16 Feb 2024filing index20 Feb 2026
202231 Dec 2022Form 10-K17 Feb 2023filing index13 Feb 2025
202131 Dec 2021Form 10-K18 Feb 2022filing index16 Feb 2024
202031 Dec 2020Form 10-K18 Feb 2021filing index17 Feb 2023
201931 Dec 2019Form 10-K14 Feb 2020filing index18 Feb 2022
201831 Dec 2018Form 10-K14 Feb 2019filing index18 Feb 2021
201731 Dec 2017Form 10-K22 Feb 2018filing index14 Feb 2020
201631 Dec 2016Form 10-K17 Feb 2017filing index14 Feb 2019
  • The figures are as filed with the SEC and standardised by reporting tag. The filing is the authority: check it before relying on a number.
  • A blank cell means the company does not tag that line, or the tagged figure is withheld as incomplete. It does not mean zero.
  • Currency: every figure is in the currency the company reported that year (US dollars here). Nothing is converted.
  • Per-share figures are adjusted for stock splits detected from the company's own restated figures, except where a year is flagged; the as-filed values are in the filings.
  • For a bank, broker, insurer or other financial company (SIC codes 6000 to 6799) net debt, EBITDA, the current ratio and debt to equity are not meaningful and the tools show them as n/m.
  • A fiscal year is named after the calendar year in which it ends. The data is updated from time to time, not daily; this company's figures were loaded on 13 November 2026.

For education and analysis, not investment advice.