PPL: revenue, profit and dividends

In fiscal 2025, PPL had revenue of $9.04B, up 1.7% a year on average since 2015, and net income of $1.18B (13.1% of revenue). Its dividend per share has gone up 3 years in a row, to $1.09. It has 11% more shares than in 2015.

Revenue, fiscal 2025

$9.04B+1.7% a year

average annual revenue growth since 2015 · +6.9% vs 2024

Net income, 2025

$1.18B

13.1% of revenue

Diluted EPS, 2025

$1.59

4.6% a year since 2015

Dividend per share, 2025

$1.09

raised 3 years in a row

Revenue growth, 5 years

10.6% a year

since 2020

Shares, 2025

743M

+10.5% since 2015

Free cash flow, 2025

−$1.4B

$2.63B from operations − $4.03B capex

Ticker: PPL · NYSE
Sector: Utilities
Sub-industry: Electric Utilities
Headquarters: Allentown, Pennsylvania
Founded: 1920
In the S&P 500 since: October 1, 2001
Latest fiscal year: 2025, ended December 31, 2025
SEC filer: PPL Corp · CIK 0000922224

Revenue and net income

Revenue went from $6.46B in 2007 to $9.04B in 2025. Net loss in 2021.

RevenueNet income

Fiscal years · US dollarsSource: SEC EDGAR (company filings)

Diluted earnings per share

Diluted EPS went from $3.34 in 2007 to $1.59 in 2025. Ten-year growth: 4.6% a year.

Fiscal years · US dollars per share, adjusted for splitsSource: SEC EDGAR (company filings)

Dividends per share

Raised 3 years in a row, every year from 2023 to 2025. Ten-year growth: −3.1% a year.

Fiscal years · US dollars per share, adjusted for splitsSource: SEC EDGAR (company filings)

Shares outstanding

10.5% more shares in 2025 than in 2015 (673M → 743M): new shares outweighed buybacks.

Fiscal years · diluted weighted-average shares, adjusted for splitsSource: SEC EDGAR (company filings)

Operating cash flow, capex and free cash flow

Free cash flow (operating cash flow minus capital expenditure) was −$1.4B in 2025, −15.5% of revenue. Negative in 2007, 2012–2018, 2022–2025.

Operating cash flowCapital expenditureFree cash flow

Fiscal years · US dollarsSource: SEC EDGAR (company filings)

Year by year

Fiscal year	Revenue	Net income	Net margin	Diluted EPS	Dividend	Shares	Operating cash flow	Capex	Free cash flow
2025	$9.04B	$1.18B	13.1%	$1.59	$1.09	743M	$2.63B	$4.03B	−$1.4B
2024	$8.46B	$888M	10.5%	$1.20	$1.03	740M	$2.34B	$2.81B	−$465M
2023	$8.31B	$740M	8.9%	$1.00	$0.96	738M	$1.76B	$2.39B	−$632M
2022	$7.9B	$756M	9.6%	$1.02	$0.88	737M	$1.73B	$2.15B	−$425M
2021	$5.78B	−$1.48B	−25.6%	−$1.93	$1.66	765M	$2.27B	$1.97B	$297M
2020	$5.47B	$1.47B	26.8%	$1.91	$1.66	769M	$2.75B	$2.27B	$476M
2019	$5.6B	$1.75B	31.2%	$2.37	$1.65	737M	$2.43B	$2.24B	$184M
2018	$7.79B	$1.83B	23.5%	$2.58	$1.64	709M	$2.82B	$3.24B	−$417M
2017	$7.45B	$1.13B	15.1%	$1.64	$1.58	687M	$2.46B	$3.13B	−$672M
2016	$7.52B	$1.9B	25.3%	$2.79	$1.52	680M	$2.89B	$2.92B	−$30M
2015	$7.67B	$680M	8.9%	$1.01	$1.50	673M	$2.62B	$3.53B	−$918M
2014	$7.85B	$1.74B	22.1%	$2.61	$1.49	666M	$3.4B	$3.67B	−$271M
2013	$7.26B	$1.13B	15.6%	$1.76	$1.47	663M	$2.86B	$3.63B	−$773M
2012	$12.1B	$1.53B	12.6%	$2.60	$1.44	582M	$2.76B	$3.1B	−$341M
2011	$12.7B	$1.5B	11.7%	$2.70	$1.40	551M	$2.51B	$2.49B	$20M
2010	$8.52B	$938M	11.0%	$2.17	$1.40	432M	$2.03B	$1.6B	$436M
2009	$7.45B	$407M	5.5%	$1.08	$1.38	376M	$1.85B	$1.23B	$627M
2008	$7.86B	$930M	11.8%	$2.47	$1.34	375M	$1.59B	$1.42B	$171M
2007	$6.46B	$1.29B	19.9%	$3.34	$1.22	383M	$1.57B	$1.66B	−$86M