PPL Corporation (PPL) Financial Ratios
30 years of historical data (1996–2025) · Utilities · Regulated Electric
EV/EBITDA
↑
12.70
+1% vs avg
5yr avg: 12.63
30Y Low5.2·High19.2
P/FCF
N/A
—
5yr avg: 2.25
30Y Low2.2·High53.2
P/B Ratio
↑
1.77
+9% vs avg
5yr avg: 1.62
30Y Low1.1·High3.3
ROE
↑
8.2%
↓+184% vs avg
5yr avg: 2.9%
30Y Low-23%·High27%
Debt/EBITDA
↑
5.47
+5% vs avg
5yr avg: 5.21
30Y Low2.6·High9.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PPL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
PPL Corporation trades at 22.1x earnings, 16% below its 5-year average of 26.2x, sitting at the 75th percentile of its historical range. Compared to the Utilities sector median P/E of 19.0x, the stock trades at a premium of 17%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $26.6B | $26.1B | $24.0B | $20.0B | $21.5B | $23.0B | $21.7B | $26.4B | $20.1B | $21.3B | $23.2B |
| Enterprise Value | $44.9B | $44.4B | $40.5B | $35.3B | $35.4B | $30.6B | $37.1B | $48.7B | $41.5B | $42.1B | $42.1B |
| P/E Ratio → | 22.11 | 21.89 | 27.05 | 27.10 | 28.65 | — | 14.76 | 15.14 | 10.98 | 18.87 | 12.20 |
| P/S Ratio | 2.94 | 2.89 | 2.84 | 2.41 | 2.72 | 3.98 | 3.96 | 4.72 | 2.58 | 2.86 | 3.08 |
| P/B Ratio | 1.77 | 1.75 | 1.71 | 1.44 | 1.55 | 1.68 | 1.62 | 2.03 | 1.72 | 1.98 | 2.34 |
| P/FCF | — | — | — | — | — | 2.25 | 45.58 | — | — | — | — |
| P/OCF | 10.12 | 9.93 | 10.26 | 11.38 | 12.45 | 10.13 | 7.90 | 10.89 | 7.12 | 8.64 | 8.02 |
P/E links to full P/E history page with 30-year chart
PPL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
PPL Corporation's enterprise value stands at 12.7x EBITDA, roughly in line with its 5-year average of 12.6x. The Utilities sector median is 11.9x, placing the stock at a 6% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.91 | 4.79 | 4.24 | 4.48 | 5.30 | 6.78 | 8.69 | 5.33 | 5.65 | 5.60 |
| EV / EBITDA | 12.70 | 12.55 | 13.08 | 11.90 | 13.58 | 12.03 | 13.92 | 19.21 | 10.31 | 10.50 | 10.67 |
| EV / EBIT | 21.06 | 19.46 | 21.85 | 22.19 | 24.79 | 21.28 | 23.37 | 31.60 | 12.77 | 14.95 | 12.24 |
| EV / FCF | — | — | — | — | — | 2.99 | 77.97 | — | — | — | — |
PPL Profitability
Margins and return-on-capital ratios measuring operating efficiency
PPL Corporation earns an operating margin of 23.6%, above the Utilities sector average of 18.5%. Operating margins have expanded from 19.6% to 23.6% over the past 3 years, signaling improving operational efficiency. ROE of 8.2% is modest, trailing the sector median of 9.3%. ROIC of 5.0% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.1% | 39.1% | 40.1% | 39.4% | 36.5% | 46.9% | 50.9% | 47.5% | 54.7% | 56.4% | 55.4% |
| Operating Margin | 23.6% | 23.6% | 20.6% | 19.6% | 17.4% | 24.6% | 29.0% | 27.2% | 36.6% | 39.0% | 39.1% |
| Net Profit Margin | 13.1% | 13.1% | 10.5% | 8.9% | 9.6% | -25.6% | 26.8% | 31.2% | 23.5% | 15.1% | 25.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.2% | 8.2% | 6.3% | 5.3% | 5.5% | -10.9% | 11.1% | 14.2% | 16.3% | 10.9% | 19.2% |
| ROA | 2.7% | 2.7% | 2.2% | 1.9% | 2.1% | -3.6% | 3.1% | 3.9% | 4.3% | 2.8% | 4.9% |
| ROIC | 5.0% | 5.0% | 4.4% | 4.3% | 4.2% | 4.3% | 3.7% | 3.4% | 6.6% | 7.2% | 7.6% |
| ROCE | 5.4% | 5.4% | 4.7% | 4.7% | 4.2% | 4.5% | 4.3% | 3.8% | 7.5% | 8.1% | 8.4% |
PPL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
PPL Corporation carries a Debt/EBITDA ratio of 5.5x, which is highly leveraged (5% above the sector average of 5.2x). Net debt stands at $18.3B ($19.4B total debt minus $1.1B cash). Interest coverage of just 2.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.30 | 1.30 | 1.19 | 1.12 | 1.02 | 0.82 | 1.19 | 1.77 | 1.89 | 1.98 | 1.94 |
| Debt / EBITDA | 5.47 | 5.47 | 5.43 | 5.26 | 5.46 | 4.40 | 5.95 | 9.10 | 5.47 | 5.31 | 4.88 |
| Net Debt / Equity | — | 1.23 | 1.17 | 1.10 | 1.00 | 0.56 | 1.15 | 1.71 | 1.84 | 1.93 | 1.91 |
| Net Debt / EBITDA | 5.17 | 5.17 | 5.33 | 5.15 | 5.32 | 3.00 | 5.78 | 8.78 | 5.32 | 5.19 | 4.80 |
| Debt / FCF | — | — | — | — | — | 0.75 | 32.38 | — | — | — | — |
| Interest Coverage | 2.82 | 2.82 | 2.51 | 2.39 | 2.78 | 1.57 | 2.50 | 2.48 | 3.37 | 3.12 | 3.87 |
PPL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.86x is below 1.0, meaning current liabilities exceed current assets — though the company's $1.1B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.86 | 0.86 | 0.86 | 0.88 | 0.75 | 2.16 | 1.39 | 0.56 | 0.53 | 0.57 | 0.54 |
| Quick Ratio | 0.74 | 0.74 | 0.71 | 0.73 | 0.63 | 2.02 | 1.37 | 0.50 | 0.47 | 0.49 | 0.45 |
| Cash Ratio | 0.24 | 0.24 | 0.09 | 0.10 | 0.09 | 1.54 | 0.03 | 0.17 | 0.14 | 0.12 | 0.09 |
| Asset Turnover | — | 0.20 | 0.21 | 0.21 | 0.21 | 0.17 | 0.11 | 0.12 | 0.18 | 0.18 | 0.20 |
| Inventory Turnover | 10.00 | 10.00 | 9.92 | 9.97 | 11.32 | 9.53 | 8.89 | 8.86 | 11.64 | 10.14 | 9.42 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
PPL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
PPL Corporation returns 3.0% to shareholders annually primarily through dividends. A payout ratio of 67.2% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.0% | 3.0% | 3.1% | 3.5% | 3.7% | 5.6% | 5.9% | 4.5% | 5.6% | 5.0% | 4.4% |
| Payout Ratio | 67.2% | 67.2% | 84.1% | 95.1% | 104.1% | — | 86.8% | 68.3% | 62.0% | 95.0% | 54.2% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 4.6% | 3.7% | 3.7% | 3.5% | — | 6.8% | 6.6% | 9.1% | 5.3% | 8.2% |
| FCF Yield | — | — | — | — | — | 44.5% | 2.2% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 4.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.0% | 3.0% | 3.1% | 3.5% | 3.7% | 9.9% | 5.9% | 4.5% | 5.6% | 5.0% | 4.4% |
| Shares Outstanding | — | $745M | $740M | $738M | $737M | $765M | $769M | $737M | $709M | $687M | $680M |
Peer Comparison
Compare PPL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PPLYou | $27B | 22.1 | 12.7 | — | 39.1% | 23.6% | 8.2% | 5.0% | 5.5 |
 AEE | $30B | 20.3 | 13.5 | — | 29.6% | 23.0% | 11.3% | 4.7% | 5.4 |
 WEC | $37B | 23.2 | 15.3 | — | 50.5% | 24.2% | 11.6% | 5.1% | 5.8 |
 EVRG | $19B | 22.5 | 12.7 | — | 32.3% | 25.2% | 8.4% | 4.5% | 5.7 |
 OGE | $10B | 20.4 | 11.3 | 118.0 | 44.2% | 24.5% | 9.8% | 5.8% | 4.2 |
 AVA | $3B | 16.7 | 10.3 | — | 24.2% | 18.0% | 7.3% | 4.5% | 5.3 |
 NWE | $4B | 23.8 | 13.2 | — | 82.3% | 20.2% | 6.3% | 4.0% | 5.7 |
 ED | $39B | 18.9 | 12.6 | 1088.8 | 62.0% | 17.3% | 8.8% | 4.4% | 5.5 |
 ES | $26B | 15.3 | 10.4 | — | 30.1% | 22.1% | 10.7% | 4.9% | 5.6 |
 FE | $27B | 26.4 | 12.3 | — | 54.8% | 18.8% | 7.4% | 5.4% | 6.2 |
 AES | $10B | 11.6 | 11.3 | — | 18.1% | 16.1% | 9.7% | 3.9% | 8.8 |
| Utilities Median | — | 19.0 | 11.9 | 18.6 | 38.4% | 18.5% | 9.3% | 4.9% | 5.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into PPL consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
PPL — Frequently Asked Questions
Quick answers to the most common questions about buying PPL stock.
What is PPL Corporation's P/E ratio?
PPL Corporation's current P/E ratio is 22.1x. The historical average is 16.8x. This places it at the 75th percentile of its historical range.
What is PPL Corporation's EV/EBITDA?
PPL Corporation's current EV/EBITDA is 12.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.7x.
What is PPL Corporation's ROE?
PPL Corporation's return on equity (ROE) is 8.2%. The historical average is 12.0%.
Is PPL stock overvalued?
Based on historical data, PPL Corporation is trading at a P/E of 22.1x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is PPL Corporation's dividend yield?
PPL Corporation's current dividend yield is 3.01% with a payout ratio of 67.2%.
What are PPL Corporation's profit margins?
PPL Corporation has 39.1% gross margin and 23.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does PPL Corporation have?
PPL Corporation's Debt/EBITDA ratio is 5.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.