PPL FY 2025 Earnings Report — PPL Corporation Revenue & Financial Results | Market Cap Arena

PPL CorporationPPL

FY 2025 Earnings

Reported February 20, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$9.0B	—	$8.5B	—	6.9%
Op. Income	$2.1B	—	$1.7B	—	22.5%
Gross Margin	39.1%	—	40.1%	—	-1.0pp
Net Margin	13.1%	—	10.5%	—	2.6pp
EPS (Diluted)	$1.60	—	$1.20	—	33.3%
Free Cash Flow	-$1.4B	—	-$465M	—	-201.3%

Revenue Flow

Item	Amount
REVENUE	$9.0B
Cost of Revenue	$5.5B
GROSS PROFIT	$3.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.4B
Operating Expenses	$1.4B
Cost & Expenses	$6.9B
OPERATING INCOME	$2.1B
Interest Income	$20M
Interest Expense	$808M
Other Income/Expenses	-$659M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$291M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$1M
BOTTOM LINE NET INCOME	$1.2B
D&A	$1.4B
EBIT	$2.3B
EBITDA	$3.7B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$9.0B
Cost of Revenue	$5.5B
GROSS PROFIT	$3.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.4B
Operating Expenses	$1.4B
Cost & Expenses	$6.9B
OPERATING INCOME	$2.1B
Interest Income	$20M
Interest Expense	$808M
Other Income/Expenses	-$659M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$291M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$1M
BOTTOM LINE NET INCOME	$1.2B
D&A	$1.4B
EBIT	$2.3B
EBITDA	$3.7B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$1.4B
Stock-Based Compensation	$0
Deferred Income Tax	$192M
Other Non-Cash Items	-$87M
Change in Working Capital	-$79M
OPERATING CASH FLOW	$2.6B
Capital Expenditure	-$4.0B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$26M
NET CASH FROM INVESTING	-$4.0B
Net Debt Issuance	$2.6B
Common Stock Repurchased	$0
Common Dividends Paid	-$794M
Other Financing Activities	-$67M
NET CASH FROM FINANCING	$2.1B
FREE CASH FLOW	-$1.4B
Net Change in Cash	$747M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$0
Net Receivables	$1.8B
Inventory	$551M
Other Current Assets	$405M
TOTAL CURRENT ASSETS	$3.9B
PP&E (Net)	$36.1B
Goodwill	$2.2B
Intangible Assets	$327M
Long-Term Investments	$0
Tax Assets	$9M
Other Non-Current Assets	$2.6B
TOTAL NON-CURRENT ASSETS	$41.3B
TOTAL ASSETS	$45.2B
Account Payables	$1.6B
Short-Term Debt	$1.4B
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$4.5B
Long-Term Debt	$18.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$3.6B
Other Non-Current Liabilities	$4.2B
TOTAL NON-CURRENT LIABILITIES	$25.8B
TOTAL LIABILITIES	$30.4B
Common Stock	$8M
Additional Paid-In Capital	$12.4B
Retained Earnings	$3.2B
Treasury Stock	-$575M
Accum. Other Comp. Income	-$202M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.9B
Minority Interest	$0
TOTAL EQUITY	$14.9B
TOTAL LIABILITIES & EQUITY	$45.2B
Total Debt	$19.4B
Net Debt	$18.3B