PPL Corporation (PPL) Financial Ratios
30 years of historical data (1996–2025) · Utilities · Regulated Electric
EV/EBITDA
↑
12.69
+1% vs avg
5yr avg: 12.58
30Y Low5.2·High19.2
P/FCF
N/A
—
5yr avg: 2.25
30Y Low2.2·High53.2
P/B Ratio
↓
1.27
↓-16% vs avg
5yr avg: 1.51
30Y Low1.1·High3.3
ROE
↑
6.6%
↓+158% vs avg
5yr avg: 2.6%
30Y Low-23%·High27%
Debt/EBITDA
↑
5.22
+1% vs avg
5yr avg: 5.15
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 23.1x earnings, 12% 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 19.7x, 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 | $27.5B | $26.1B | $24.0B | $20.0B | $21.5B | $23.0B | $21.7B | $26.4B | $20.1B | $21.3B | $23.2B |
| Enterprise Value | $44.9B | $43.5B | $40.5B | $35.3B | $35.4B | $30.6B | $37.1B | $48.7B | $41.5B | $42.1B | $42.1B |
| P/E Ratio → | 23.05 | 21.89 | 27.05 | 27.10 | 28.65 | — | 14.76 | 15.14 | 10.98 | 18.87 | 12.20 |
| P/S Ratio | 3.04 | 2.89 | 2.84 | 2.41 | 2.72 | 3.98 | 3.96 | 4.72 | 2.58 | 2.86 | 3.08 |
| P/B Ratio | 1.27 | 1.21 | 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 | 10.45 | 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 11.5x, placing the stock at a 10% 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 | — | 4.81 | 4.79 | 4.24 | 4.48 | 5.30 | 6.78 | 8.69 | 5.33 | 5.65 | 5.60 |
| EV / EBITDA | 12.69 | 12.30 | 13.08 | 11.90 | 13.58 | 12.03 | 13.92 | 19.21 | 10.31 | 10.50 | 10.67 |
| EV / EBIT | 21.05 | 19.57 | 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 19.8%. Operating margins have expanded from 19.6% to 23.6% over the past 3 years, signaling improving operational efficiency. ROE of 6.6% is modest, trailing the sector median of 9.4%. ROIC of 4.6% represents below-average 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 | 6.6% | 6.6% | 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 | 4.6% | 4.6% | 4.4% | 4.3% | 4.2% | 4.3% | 3.7% | 3.4% | 6.6% | 7.2% | 7.6% |
| ROCE | 5.3% | 5.3% | 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 5.2x, which is highly leveraged (5% above the sector average of 5.0x). Net debt stands at $17.4B ($18.4B total debt minus $1.1B cash). Interest coverage of just 2.6x 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 | 0.85 | 0.85 | 1.19 | 1.12 | 1.02 | 0.82 | 1.19 | 1.77 | 1.89 | 1.98 | 1.94 |
| Debt / EBITDA | 5.22 | 5.22 | 5.43 | 5.26 | 5.46 | 4.40 | 5.95 | 9.10 | 5.47 | 5.31 | 4.88 |
| Net Debt / Equity | — | 0.80 | 1.17 | 1.10 | 1.00 | 0.56 | 1.15 | 1.71 | 1.84 | 1.93 | 1.91 |
| Net Debt / EBITDA | 4.92 | 4.92 | 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 | 2.64 | 2.64 | 2.36 | 2.45 | 2.68 | 1.55 | 2.50 | 2.46 | 2.96 | 3.22 | 3.31 |
PPL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.14x means PPL Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.88x to 1.14x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.14 | 1.14 | 0.86 | 0.88 | 0.75 | 2.16 | 1.39 | 0.56 | 0.53 | 0.57 | 0.54 |
| Quick Ratio | 1.14 | 1.14 | 0.71 | 0.73 | 0.63 | 2.02 | 1.37 | 0.50 | 0.47 | 0.49 | 0.45 |
| Cash Ratio | 0.53 | 0.53 | 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 | — | — | 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 2.9% 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 4.3% (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 | 2.9% | 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 | 4.3% | 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 | 2.9% | 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 | 23.1 | 12.7 | — | 39.1% | 23.6% | 6.6% | 4.6% | 5.2 |
 AEE | $30B | 20.5 | 13.6 | — | 29.6% | 23.0% | 11.3% | 4.7% | 5.4 |
 WEC | $37B | 23.6 | 15.4 | — | 50.5% | 24.2% | 11.6% | 5.1% | 5.8 |
 EVRG | $19B | 22.1 | 7.0 | — | 83.3% | 25.7% | 12.7% | 8.3% | 0.1 |
 OGE | $10B | 20.6 | 11.4 | 119.1 | 44.2% | 24.5% | 9.8% | 5.8% | 4.2 |
 AVA | $3B | 17.1 | 10.4 | — | 24.2% | 18.0% | 7.3% | 4.5% | 5.3 |
 NWE | $4B | 24.2 | 13.3 | — | 82.3% | 20.2% | 6.3% | 4.0% | 5.7 |
 ED | $25B | 18.9 | 4.8 | 5.6 | 81.0% | 17.3% | 8.8% | 6.0% | 0.1 |
 ES | $26B | 15.0 | 10.4 | — | 30.1% | 22.1% | 10.7% | 4.9% | 5.6 |
 FE | $26B | 25.9 | 12.1 | — | 54.8% | 18.8% | 7.4% | 5.4% | 6.2 |
 AES | $10B | 11.4 | 11.2 | — | 18.1% | 16.1% | 9.7% | 3.9% | 8.8 |
| Utilities Median | — | 19.7 | 11.5 | 15.4 | 40.7% | 19.8% | 9.4% | 4.9% | 5.0 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
Full PPL Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
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Start ComparisonPPL — 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 23.1x. 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 6.6%. The historical average is 11.9%.
Is PPL stock overvalued?
Based on historical data, PPL Corporation is trading at a P/E of 23.1x. 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 2.89% 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 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.