PPL Corporation (PPL) Financial Statements
PPL financial statements at a glance
PPL reported revenue of $9.04 billion for fiscal year 2025 (ended December 31, 2025), up 6.9% from fiscal year 2024. Net income was $1.18 billion, a net margin of 13.0%, and diluted earnings per share were $1.59.
At the end of fiscal year 2025 it had total assets of $45.24 billion, total liabilities of $30.36 billion and shareholders' equity of $14.88 billion, with cash and short-term investments of $1.07 billion and total debt of $19.35 billion.
Its operations brought in $2.63 billion of cash; capital spending was $4.03 billion, leaving free cash flow of -$1.40 billion.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
PPL Corporation
Income Statement
Annual • USD
PPL key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $9.0B | $8.5B | $8.3B | $7.9B | $5.8B |
| Gross profit | $3.9B | – | – | – | $2.7B |
| Operating income | $2.1B | $1.7B | $1.6B | $1.4B | $1.4B |
| Net income | $1.2B | $888.0M | $740.0M | $756.0M | -$1.5B |
| Diluted EPS | $1.59 | – | – | – | -$1.93 |
| Total assets | $45.2B | $41.1B | $39.2B | $37.8B | $33.2B |
| Total liabilities | $30.4B | $27.0B | $25.3B | $23.9B | $19.5B |
| Shareholders' equity | $14.9B | $14.1B | $13.9B | $13.9B | $13.7B |
| Cash and short-term investments | $1.1B | – | – | – | $3.6B |
| Total debt | $19.4B | $16.8B | $15.6B | $14.2B | $11.2B |
| Operating cash flow | $2.6B | $2.3B | $1.8B | $1.7B | $2.3B |
| Capital spending | $4.0B | – | – | – | $2.0B |
| Free cash flow | -$1.4B | – | – | – | $297.0M |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was PPL's revenue in fiscal year 2025?
$9.04 billion, up 6.9% from $8.46 billion in fiscal year 2024.
How much profit does PPL make?
PPL reported net income of $1.18 billion for fiscal year 2025 (13.0% of revenue); operating income was $2.13 billion.
How much cash and debt does PPL have?
At the end of fiscal year 2025: cash and short-term investments of $1.07 billion and total debt of $19.35 billion.
What is PPL's free cash flow?
-$1.40 billion in fiscal year 2025 (operating cash flow of $2.63 billion minus capital spending of $4.03 billion).
