PPL Corporation (PPL)

Utilities · $26.6B market cap · SEC CIK 0000922224

Next reports on Feb 18, 2027, after the close, with analysts expecting $0.46 in earnings per share.

52-week range $31.56 to $40.11. 11% below its 52-week high and 13% above its low.

The case for PPL

• 22% of revenue drops through to net profit.
• Pays a 3.6% dividend while you wait.
• Has compounded revenue at 13.4% a year over five years.
• Moves less than the market (beta 0.55).

The case against

• Expensive for its growth: 20.3× earnings, where 0% a year of growth plus a 3.6% dividend would justify about 13×.
• Revenue fell 58.8% year over year.
• Burned $1.4B of free cash in FY2025.
• Long-term debt of $18.0B would take 7 years of operating cash flow to repay.
• Operating profit covers its interest bill only 2.9 times.
• Priced at 6.6× sales with revenue falling 58.8%.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Utilities companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Each factor except momentum is half fixed thresholds, half rank among the 31 Utilities companies.

The financials

The financials, five years deep

Pulled from PPL Corporation's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What PPL Corporation says it does

(All Registrants) PPL, headquartered in Allentown, Pennsylvania, is a utility holding company, incorporated in 1994. PPL, through its regulated utility subsidiaries, delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky. PPL's principal subsidiaries at December 31, 2025 are shown below (* denotes a Registrant). PPL Corporation* PPL Capital Funding Provides financing for the operations of PPL and certain subsidiaries PPL Electric* Engages in the regulated transmission and distribution of electricity in Pennsylvania LKE A holding company that owns regulated utility operations through its subsidiaries, LG&E and KU RIE Engages in the regulated transmission, distribution and sale of electricity and regulated distribution and sale of natural gas in Rhode Island LG&E* Engages in the…

Risk factors PPL lists in its 10-K

• A. Risk Related to Registrant Holding Company
• B. Risks Related to Regulated Utility Operations
• The business and capital investment plans of PPL depend, in part, on the continued growth and viability of data centers and large load customers in its service territories
• Our utility businesses are subject to significant and complex governmental
• Our regulated businesses undertake significant capital projects and these activities are subject
• to unforeseen costs, delays or failures, as well as risk of inadequate recovery of
• We are or may be subject to costs of remediation of environmental contamination at facilities that are currently owned by us or that are owned or operated by our former subsidiaries
• C. Risks Specific to Kentucky Regulated Segment
• We are subject to financial, operational, regulatory and other risks related to requirements, developments and uncertainties in environmental regulation, including those affecting coal-fired generation facilities
• We are subject to regulatory and other risks regarding natural gas supply infrastructure
• D. Risks Specific to Pennsylvania Regulated Segment
• We face competition for transmission projects, which could adversely affect our rate base growth
• We could be subject to higher costs and/or penalties related to Pennsylvania Conservation and Energy Efficiency Programs
• E. Risks Specific to the Rhode Island Regulated Segment
• Our business operations are continually subject to cyber-based security and data integrity risks from vulnerabilities related to our IT systems, operational technology infrastructure and supply chain relationships
• Natural disasters or operational accidents may adversely affect the Registrants' operating results
• We are subject to risks associated with federal and state tax laws and regulations
• We could be negatively affected by rising interest rates, downgrades to our credit ratings, adverse credit market conditions or other negative developments in our ability to access capital markets
• A downgrade in our credit ratings could negatively affect our ability to access capital and increase the cost of maintaining our credit facilities and any new debt
• Our businesses are subject to physical, market and economic risks relating to potential
• Significant increases in our operation and maintenance expenses, including health care and pension costs, could adversely affect our future earnings and liquidity
• We may incur liabilities in connection with divestitures
• We are subject to liability risks relating to our generation,
• transmission and distribution operations
• Our facilities may not operate as planned, which may increase our expenses and decrease our revenues and have an adverse effect on our financial performance
• We are required to obtain, and to comply with, government permits and approvals
• War, other armed conflicts or terrorist attacks could have a material adverse effect on our business
• We are subject to counterparty performance, credit or other risk in the provision of goods or services to us, which could adversely affect our ability to operate our facilities or conduct business activities
• We are subject to the risk that our workforce and its knowledge base may become depleted in coming years

Filings

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