# PPL Corporation (PPL) — Stock CV

PPL Corporation is a $25.8B utility company. Revenue grew 6.7% over the last year, it keeps 13¢ of every dollar of sales as profit, and it carries $18.4B of net debt. It trades at 20.4× earnings — in the cheapest third of its own history.

> PPL is a holding company of regulated utilities in Pennsylvania, Kentucky, and Rhode Island. The Pennsylvania regulated delivery and transmission segment distributes electricity to customers in central and eastern Pennsylvania.

## Identity

- **Ticker**: PPL
- **Sector**: Utilities
- **Industry**: Electric Services
- **Headquarters**: ALLENTOWN, PA
- **Employees**: 6 546
- **Website**: https://www.pplweb.com
- **Market cap**: $25.8B
- **Last price**: $34.25
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $9.40B
- **Net income**: $1.26B
- **Free cash flow**: -$1.99B
- **Net debt**: $18.4B
- **P/E**: 20.4
- **Revenue growth (YoY)**: 6.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 57 |
| Growth | 40 |
| Profitability | 62 |
| Health | 24 |
| Quality | 55 |
| Moat | 0 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +6.7% YoY
- [x] Profitable — $1.26B TTM
- [x] Profit growing — +15.7% YoY
- [ ] Generates cash — -$1.99B TTM
- [ ] Debt under control — current ratio 0.91
- [x] Established company — $25.8B market cap
- [x] Not printing shares — +0.6% shares over ~5y
- [x] Proven track record — 8/9 profitable years
- [ ] Financially stable — Altman Z 0.7 — distress
- [x] Pays a dividend — yield 3.17%
- [x] Valuation not extreme — P/E 20.4

## Experience (career milestones)

- **May 25, 2022** — The sale of the Narragansett Electric Company was completed on May 25, 2022
- **Mar 18, 2021** — This resulted in a March 18, 2021, announcement of agreements to sell WPD to National Grid plc for £7.8 billion and…
- **FY2016** — First recorded profitable year: $1.90B net income
- **FY2016** — Revenue already above $1B: $7.52B in first reported year
- **FY2016** — Best year on record: $1.90B net income
- **Jun 1, 2015** — The Talen spinoff was completed, allowing PPL to concentrate on the transmission and distribution…
- **2011** — PPL completed the acquisition of two regulated regional electricity distribution companies in the United…
- **2010** — PPL completed the acquisition of two regulated Kentucky-based utilities, Louisville Gas & Electric in…
- **2000** — PP&L Resources was renamed PPL Corporation in 2000
- **1995** — The company reorganized as a holding company

## Strengths

- None stand out in the data.

## Watch-outs

- Negative free cash flow (-$2.0B)
- Altman Z-Score 0.70 — elevated financial-distress risk
- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $5.78B | -$1.48B | $297M |
| FY2022 | $7.90B | $755M | -$425M |
| FY2023 | $8.31B | $739M | -$632M |
| FY2024 | $8.46B | $886M | -$465M |
| FY2025 | $9.04B | $1.18B | -$1.40B |

---

Source: https://stockcv.com/PPL — derived from company filings; may be delayed or incomplete. Information, not investment advice.