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PPL Corporation

PPL
45
Regulated Electric · Utilities
Also trades as: 0KEJ.L GBP 0.35 (-1.22%)
Price
$34.98
-0.37 (-1.05%)
Market Cap
$26.32B
Winston Score
45
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 25, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
12/30
Growth
Strong
14/20
Cash Flow
Good
6/10
Stability
Mixed
4/10
Valuation
Mixed
4/10
Ownership
Weak
2/15
Dividends
Good
3/5

45 of 100 counted points = Winston Score 45.

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Share count falling — buybacks

−2.8% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 764.8M (2021) → 743.3M (2025)

§Winston Score History

The full picture

PPL Corporation is a regulated electric and gas utility company. It delivers electricity and natural gas to homes, businesses, and industrial customers across Pennsylvania, Kentucky, and the United Kingdom. PPL owns and operates the power lines, pipes, and equipment that move energy from generators to end users.

PPL makes money by charging customers for delivering energy through its network. Because it operates as a regulated utility, government agencies set the rates it can charge, which limits big swings in revenue but also provides steady, predictable income. The company serves roughly 3.5 million customers across its service territories, and its main competitive advantage is that it holds exclusive licenses to operate in its regions — customers cannot simply switch to a different delivery company. The key risk PPL faces is rising capital costs, since utilities must constantly invest in upgrading aging infrastructure, and regulators may not always approve rate increases large enough to cover those expenses.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+4.2% YoY

YoY Growth Rate

Slow revenue growth

Reported EPS Growth

+24.0% YoY

Quarterly reporting periods ended:

30 Jun 2025: $0.25

30 Jun 2026: $0.31

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

0.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 months

$332M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

PPL Corporation has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
22.5%
Thin — 22.5% gross margin
Profit after running costs
Operating Margin
22.5%
Excellent — 22.5% operating margin
Return on the money invested
ROCE
6.5%
Weak — 6.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+6.7%
Slow sales growth (+6.7% YoY)
Profit growth
EPS YoY
+26.9%
Earnings growing fast (+26.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
210%
Turns 210% of profit into real cash
Spare cash per sale
FCF Margin
-18.8%
Burning cash (-18.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
1.32
Elevated debt (1.32)
Covers its interest
Interest Cover
2.58x
Tight — interest eats into profit (2.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
20.6x
Growth-priced — P/E 20.6

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+0.8
GROWING
Earnings roughly flat

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Dividends

Dividend
Dividend Yield
3.34%
Moderate income — 3.34% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+4.9%
Dividend growing modestly (4.9% YoY)
Payout Ratio
65%
no trend
Most of the profit goes out as dividends. Little left to reinvest, and less cushion if earnings dip.

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