PPL Corporation (PPL) Income Statement

NYSE: PPLRevenue, profits, margins and EPS over 10 years.

PPL 2025 at a glance

Fiscal year ended December 31, 2025 · U.S. dollars
Revenue+6.9%
$9.04B
2025 · hover or tap a bar for each year
2016: $7.52B (−2.0%)2017: $7.45B (−0.9%)2018: $7.79B (+4.5%)2019: $5.60B (−28.0%)2020: $5.47B (−2.3%)2021: $5.78B (+5.6%)2022: $7.90B (+36.6%)2023: $8.31B (+5.2%)2024: $8.46B (+1.8%)2025: $9.04B (+6.9%)
20162025
Gross profit+13.9%
$3.86B
2025 · hover or tap a bar for each year
2016: $4.16B (+3.7%)2017: $4.20B (+0.9%)2018: $4.26B (+1.4%)2019: $2.66B (−37.5%)2020: $2.79B (+4.8%)2021: $2.71B (−2.7%)2022: $2.89B (+6.4%)2023: $3.28B (+13.5%)2024: $3.39B (+3.6%)2025: $3.86B (+13.9%)
20162025
Operating income+22.4%
$2.13B
2025 · hover or tap a bar for each year
2016: $2.94B (+3.7%)2017: $2.90B (−1.2%)2018: $2.85B (−1.7%)2019: $1.53B (−46.5%)2020: $1.59B (+3.9%)2021: $1.42B (−10.2%)2022: $1.37B (−3.5%)2023: $1.63B (+18.6%)2024: $1.74B (+6.7%)2025: $2.13B (+22.4%)
20162025
Net income+33.0%
$1.18B
2025 · hover or tap a bar for each year
2016: $1.90B (+178.9%)2017: $1.13B (−40.7%)2018: $1.83B (+62.0%)2019: $1.75B (−4.4%)2020: $1.47B (−15.9%)2021: −$1.48B (−200.7%)2022: $756.0M2023: $740.0M (−2.1%)2024: $888.0M (+20.0%)2025: $1.18B (+33.0%)
20162025
EPS (diluted)+5.4%
$1.77
2025 · hover or tap a bar for each year
2016: $2.46 (+11.8%)2017: $2.25 (−8.5%)2018: $2.40 (+6.7%)2019: $2.46 (+2.5%)2020: $2.39 (−2.8%)2021: $1.05 (−56.1%)2022: $1.40 (+33.3%)2023: $1.60 (+14.3%)2024: $1.68 (+5.0%)2025: $1.77 (+5.4%)
20162025
Net profit margin+2.6 pts
13.1%
2025 · hover or tap a point for each year
2016: 25.3% (+16.4 pts)2017: 15.1% (−10.2 pts)2018: 23.5% (+8.3 pts)2019: 31.2% (+7.7 pts)2020: 26.8% (−4.3 pts)2021: −25.6% (−52.4 pts)2022: 9.6% (+35.2 pts)2023: 8.9% (−0.7 pts)2024: 10.5% (+1.6 pts)2025: 13.1% (+2.6 pts)
20162025

PPL revenue and net income

RevenueNet incomeNet margin (right axis)

Where PPL's revenue goes

2025
Revenue
$9.04B100.0%
Cost of revenue
−$5.18B−57.3%
Gross profit
$3.86B42.7%
Other operating expenses
−$1.74B−19.2%
Operating income
$2.13B23.5%
Interest & other expense
−$657.0M−7.3%
Income taxes
−$291.0M−3.2%
Net income
$1.18B13.1%

Each bar shows an amount and its share of revenue. PPL kept 13.1% of revenue as net income.

PPL profit margins

GrossOperatingNet

PPL growth rates

to 2025
1 year3 years5 years10 years
Revenue+6.9%+4.6%+10.6%+1.7%
Gross profit+13.9%+10.2%+6.7%−0.4%
Operating income+22.4%+15.7%+6.1%−2.8%
Net income+33.0%+16.0%−4.3%+5.6%
EPS (diluted)+5.4%+8.1%−5.8%−2.2%

1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.

PPL quarterly EPS vs estimates

Reported EPSAnalyst estimate

PPL beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.53).

PPL income statement

2025202420232022202120202019201820172016
Revenue$9.04B$8.46B$8.31B$7.90B$5.78B$5.47B$5.60B$7.79B$7.45B$7.52B
Cost of revenue$5.18B$5.07B$5.04B$5.01B$3.07B$2.69B$2.94B$3.53B$3.25B$3.35B
Gross profit$3.86B$3.39B$3.28B$2.89B$2.71B$2.79B$2.66B$4.26B$4.20B$4.16B
Research & development———————$0$0$0
Sales, general & admin——$40.0M$47.0M$21.0M$2.0M$8.0M$257.0M$167.0M$112.0M
Total operating expenses$1.74B$1.65B$1.65B$1.51B$1.29B$1.20B$1.14B$1.41B$1.30B$1.23B
Operating income$2.13B$1.74B$1.63B$1.37B$1.42B$1.59B$1.53B$2.85B$2.90B$2.94B
Interest income$20.0M$33.0M$32.0M$4.0M$906.0M$10.0M$16.0M$6.0M$2.0M$3.0M
Interest expense$808.0M$738.0M$666.0M$513.0M$918.0M$634.0M$621.0M$963.0M$901.0M$888.0M
Income before taxes$1.47B$1.12B$924.0M$915.0M$521.0M$954.0M$919.0M$2.29B$1.91B$2.55B
Income taxes$291.0M$228.0M$184.0M$201.0M$503.0M$314.0M$183.0M$458.0M$784.0M$648.0M
Net income$1.18B$888.0M$740.0M$756.0M−$1.48B$1.47B$1.75B$1.83B$1.13B$1.90B
EBITDA$3.70B$3.21B$2.92B$2.66B$2.56B$2.67B$2.55B$4.42B$3.92B$4.44B
EPS (diluted)$1.77$1.68$1.60$1.40$1.05$2.39$2.46$2.40$2.25$2.46
Gross margin42.7%40.1%39.4%36.5%46.9%50.9%47.5%54.7%56.4%55.4%
Operating margin23.5%20.6%19.6%17.4%24.6%29.0%27.2%36.6%39.0%39.1%
Net margin13.1%10.5%8.9%9.6%−25.6%26.8%31.2%23.5%15.1%25.3%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PPL's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.

PPL financial results

In fiscal year 2025 (ended December 31, 2025), PPL reported revenue of $9.0 billion, up 6.9% from the year before. It had net income of $1.2 billion (up 33.0%), a net profit margin of 13.1%. Diluted earnings per share came to $1.77. Over five years revenue grew at an average rate of 10.6% a year.

See the PPL stock overview for the latest quote and news, or the PPL chart for price history and technical indicators.

PPL income statement FAQ

What is PPL's annual revenue?

PPL reported total revenue of $9.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 6.9% from $8.5 billion the previous year.

Is PPL profitable?

Yes. PPL reported net income of $1.2 billion in fiscal 2025, a net profit margin of 13.1%; its operating margin was 23.5%.

What is PPL's gross margin?

PPL's gross margin was 42.7% in fiscal 2025: for every $100 of revenue, PPL kept $43 after the direct cost of its products and services.

How fast is PPL growing?

Revenue grew 10.6% a year on average over the last five fiscal years, from $5.5 billion to $9.0 billion.

What are PPL's earnings per share?

PPL earned $1.77 per diluted share in fiscal 2025, compared with $1.68 a year earlier.

When will PPL report its next earnings?

PPL is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.

When does PPL's fiscal year end?

PPL's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.

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