Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

PPL Corporation

PPL stock analysis · Utilities · Electric Utilities

FY 2025-12-31ANNUAL FILINGS
Compare ⇄
ⓘ These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$36.35HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$27.3B

Price × SEC outstanding shares. Shares measured 2026-04-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

— Requires positive annual FCF, usable shares and discount rate above terminal growth.

Requires positive annual FCF, usable shares and discount rate above terminal growth.

How this is calculated ↗
Valuation

Reverse DCF

— No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

How this is calculated ↗
Valuation

Relative valuation

2.6%

14 industry peers · median 23.8×

How this is calculated ↗
Valuation

Historical multiples

24.8×

6 annual observations · snapshot P/E 23.2× · -6.6% versus history

How this is calculated ↗
Valuation

Free cash flow yield

-5.1%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

5.3%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

— Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

— Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

10.2%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

— Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-3.4%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

4.1%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 4B2020-12-31: cfo $2,746,000,000.002020-12-31: capex $2,270,000,000.0020202021-12-31: cfo $2,270,000,000.002021-12-31: capex $1,973,000,000.0020212022-12-31: cfo $1,730,000,000.002022-12-31: capex $2,155,000,000.0020222023-12-31: cfo $1,758,000,000.002023-12-31: capex $2,390,000,000.0020232024-12-31: cfo $2,340,000,000.002024-12-31: capex $2,805,000,000.0020242025-12-31: cfo $2,629,000,000.002025-12-31: capex $4,030,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%———
10.0%———
12.0%———

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-319.2B1.2B2.6B4B45.2B
2024-12-318.4B888M2.3B2.8B41.1B
2023-12-318.3B740M1.8B2.4B39.2B
2022-12-317.8B756M1.7B2.2B37.8B
2021-12-315.8B-1.5B2.3B2B33.2B
2020-12-315.4B1.5B2.7B2.3B48.1B
2019-12-315.5B1.7B2.4B2.2B45.7B
2018-12-317.8B1.8B2.8B3.2B43.4B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue9.2BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-20
netIncome1.2BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-20
Parent/common earnings proxy1.2BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-20
cfo2.6BNetCashProvidedByUsedInOperatingActivities2026-02-20
capex4BPaymentsToAcquirePropertyPlantAndEquipment2026-02-20
operatingIncome2.1BOperatingIncomeLoss2026-02-20
assets45.2BAssets2026-02-20
equity14.9BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-20
Parent book equity proxy—Not reported under a supported tag—
debt18.9BLongTermDebt2026-02-20
shortDebt456MShortTermBorrowings2026-02-20
cash1.1BCashAndCashEquivalentsAtCarryingValue2026-02-20
shares743.3MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-20
dividends794MPaymentsOfDividendsCommonStock2026-02-20
buybacks—Not reported under a supported tag—
issuance401MReviewed manual correction
Bounded FY2025-12-31 consolidated financing-statement extraction. Issuance of treasury stock: 401000000 USD [us-gaap:ProceedsFromSaleOfTreasuryStock]. All 7 financing lines reconcile exactly to reported financing cash flow 2122000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: the statement also aggregates other financing cash flows (net -26000000 USD). Their common-equity portion is not separately disclosed here. Issuance is the sum of separately reported common cash-issuance lines, not an independently verified gross total; additional equity flows may be inside those aggregates.
2026-02-20