PPL (PPL) stock
Utilities · Electric Utilities
PPL (PPL) is an Electric Utilities company in the Utilities sector, headquartered in Allentown, Pennsylvania. As of October 23, 2026, PPL closed at $34.98, a market capitalization of $26.32 billion, the 351st largest company in the S&P 500. Over the last twelve months it generated $9.40 billion in revenue (+4% year over year) and -$1.99 billion in free cash flow. The stock trades at 20.7x trailing earnings and 16.5x forward earnings.
- 1-year total return: -3.3% (dividends reinvested)
- 5-year return: +7.4% a year
- 52-week range: $31.56 – $40.11
- Gross margin 44.1%, operating margin 23.6%
- Dividend yield: 3.26%, 3 straight years of increases
- FI Handbook report card: C across 10 metrics
- 22nd largest of 31 Utilities stocks in the S&P 500
PPL price chart
1Y price change: -6.4% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| PPL | +8.5% | +2.3% | -3.3% | +17.7% | +7.4% | +5.0% | +9.8% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1980.
PPL key statistics
- Market cap
- $26.3B
- #351 in S&P 500
- P/E (TTM)
- 20.7x
- Forward P/E
- 16.5x
- EPS (TTM)
- $1.69
- Revenue (TTM)
- $9.4B
- +4%
- Free cash flow
- -$2.0B
- Gross margin
- 44.1%
- Operating margin
- 23.6%
- Return on equity
- 8.6%
- Dividend yield
- 3.26%
- 52-week range
- $31.56 – $40.11
- Beta
- 0.58
- Price / sales
- 2.8x
- EV / EBITDA
- 12.3x
- Debt / equity
- 1.35x
- Employees
- 6,546
PPL report card
CTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth4.2%D
- Gross margin44.1%B
- Operating margin23.6%B
- FCF margin-21.2%F
- Return on equity8.6%D
- Net debt / EBITDA5.3xF
- Forward P/E16.5xB
- PEG ratio1.2xB
- Shareholder yield3.3%B
- Share count change / yr-0.7%B
PPL financials
Revenue went from $7.5B in fiscal 2016 to $9.2B in fiscal 2025, growing 2.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.5B | $7.4B | $7.8B | $5.5B | $5.4B | $5.8B | $7.8B | $8.3B | $8.4B | $9.2B |
| Operating income | $2.9B | $2.9B | $2.9B | $1.5B | $1.6B | $1.4B | $1.4B | $1.6B | $1.7B | $2.1B |
| Net income | $1.9B | $1.1B | $1.8B | $1.7B | $1.5B | -$1.5B | $756.0M | $740.0M | $888.0M | $1.2B |
| EPS (diluted) | $2.79 | $1.64 | $2.58 | $2.37 | $1.91 | $-1.93 | $1.02 | $1.00 | $1.20 | $1.59 |
| Free cash flow | -$30.0M | -$672.0M | -$417.0M | $184.0M | $476.0M | $297.0M | -$425.0M | -$632.0M | -$465.0M | -$1.4B |
| Buybacks | — | — | — | $0 | $0 | $1.0B | $0 | $0 | — | — |
| Dividends paid | $1.0B | $1.1B | $1.1B | $1.2B | $1.3B | $1.3B | $787.0M | $704.0M | $747.0M | $794.0M |
| Diluted shares | 680.4M | 687.3M | 708.6M | 736.8M | 769.4M | 764.8M | 736.9M | 738.2M | 739.9M | 743.3M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into PPL?
A reverse DCF asks what growth the current price requires. With an enterprise value of $46.4B and -$2.0B of trailing free cash flow, PPL needs to grow free cash flow at a rate outside our model for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 22.0x vs. median 15.6x (10th–90th percentile 11.3x–32.5x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
PPL dividend
- Dividend yield
- 3.26%
- Annual dividend
- $1.14
- Years of increases
- 3
- 5-yr dividend growth
- -8.0%
- per year
- Payout ratio
- 66%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
PPL analyst price targets
17 analysts' average 12-month target is $39.59 (+13% vs. $34.98). Targets range from $35.00 to $44.00. 78% rate it a buy.
PPL earnings
Next report: November 6, 2026. Last quarter's revenue was $2.1B (+4% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 7, 2026 | $0.34 | $0.33 | -4.0% |
| May 8, 2026 | $0.62 | $0.63 | +2.1% |
| Feb 20, 2026 | $0.42 | $0.41 | -1.3% |
| Nov 5, 2025 | $0.46 | $0.48 | +5.3% |
| Jul 31, 2025 | $0.39 | $0.32 | -17.2% |
| Apr 30, 2025 | $0.54 | $0.60 | +11.0% |
| Feb 13, 2025 | $0.37 | $0.34 | -8.9% |
| Nov 1, 2024 | $0.42 | $0.42 | -1.1% |
Stocks like PPL
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 SO Southern | -0.99% | -0% | $106.9B | 22.4x | Compare |
 DUK Duke Energy Corporation (Holdin | -0.33% | +2% | $97.4B | 18.8x | Compare |
 CEG Constellation Energy Corporatio | -0.69% | -30% | $89.8B | 24.8x | Compare |
 AEP American Electric Power | -0.73% | +15% | $70.6B | 22.5x | Compare |
 ETR Entergy | -0.79% | +15% | $51.3B | 27.5x | Compare |
 VST Vistra | -0.48% | -26% | $47.0B | 23.6x | Compare |
 EXC Exelon | -0.94% | -3% | $45.8B | 16.3x | Compare |
 WEC WEC Energy | -0.95% | -1% | $36.2B | 21.6x | Compare |
PPL news
- Can PPL's Grid Modernization Support Rising Electricity Demand? · Oct 23, 2026
- PPL Corporation to Conduct Webcast on Third-Quarter 2026 Earnings Results · Oct 23, 2026
- Earnings Preview: What to Expect From PPL’s Report · Oct 23, 2026
- Will PPL's Capital Allocation Strategy Support Shareholder Returns? · Oct 12, 2026
- Can PPL's Generation Strategy Keep Pace With Rising Power Demand? · Oct 7, 2026
PPL stock FAQ
What is PPL's market cap?
PPL's market capitalization is $26.32 billion as of October 23, 2026, ranking 351st in the S&P 500.
What is PPL's P/E ratio?
PPL trades at a trailing price-to-earnings ratio of 20.7x and a forward P/E of 16.5x. Its median P/E over the period we track is 15.6x.
Does PPL pay a dividend?
Yes. PPL pays $1.14 per share a year, a 3.26% yield. It has raised its dividend 3 years in a row. Dividends fell 8.0% a year over the last five years.
How much has PPL stock returned?
Including reinvested dividends, PPL returned -3.3% over one year, +7.4% a year over five years, +5.0% a year over ten years through October 23, 2026.
What is the PPL price target?
17 analysts cover PPL with an average 12-month price target of $39.59, +13% from the current price. 78% of them rate it a buy.
When does PPL report earnings?
PPL is expected to report earnings on November 6, 2026.
How many employees does PPL have?
PPL has about 6,546 full-time employees, or $1.4 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology