Question 1

What is PPL's P/FCF ratio?

Accepted Answer

PPL (PPL) P/FCF ratio is 119.0× as of August 2, 2022. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for PPL?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For PPL specifically, the relevant sector benchmark is the current sector median of 32.9×.

Question 5

Is PPL's P/FCF ratio high or low?

Accepted Answer

PPL's P/FCF ratio of 119.0× is above its own 5-year average of 66.3× and above the sector median of 32.9×. That places the current reading at the 94th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is PPL's historical P/FCF ratio range?

Accepted Answer

In the available daily series, PPL (PPL) P/FCF ratio has ranged from a low of 9.5× in 2010 to a high of 789.2× in 2011. The 5-year average is 66.3× and the 5-year median is 62.2×.

Question 7

What was PPL's P/FCF ratio in 2021?

Accepted Answer

PPL (PPL) P/FCF ratio at the end of 2021 was 75.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does PPL's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$25.92B	−$1.40B	—	—	Dec 31, 2025
2024	$23.96B	−$465.00M	—	—	Dec 31, 2024
2023	$19.98B	−$632.00M	—	—	Dec 31, 2023
2022	$21.52B	−$425.00M	—	—	Dec 31, 2022
2021	$22.41B	$297.00M	75.4×	+29.9×	Dec 31, 2021
2020	$21.68B	$476.00M	45.5×	—	Dec 31, 2020
2019	$26.86B	−$656.00M	—	—	Dec 31, 2019
2018	$20.40B	−$417.00M	—	—	Dec 31, 2018
2017	$21.34B	−$710.00M	—	—	Dec 31, 2017
2016	$23.14B	−$67.00M	—	—	Dec 31, 2016
2015	$22.97B	−$955.00M	—	—	Dec 31, 2015
2014	$22.42B	−$782.00M	—	—	Dec 31, 2014
2013	$17.59B	−$1.45B	—	—	Dec 31, 2013
2012	$15.45B	−$341.00M	—	—	Dec 31, 2012
2011	$15.78B	$20.00M	789.2×	+754.9×	Dec 31, 2011
2010	$11.80B	$344.00M	34.3×	+13.3×	Dec 31, 2010
2009	$11.30B	$539.00M	21.0×	—	Dec 31, 2009
2008	$10.66B	−$161.00M	—	—	Dec 31, 2008
2007	$17.91B	−$114.00M	—	—	Dec 31, 2007
2006	$12.74B	$364.00M	35.0×	+17.1×	Dec 31, 2006
2005	$10.32B	$577.00M	17.9×	+4.6×	Dec 31, 2005
2004	$9.33B	$703.00M	13.3×	+0.9×	Dec 31, 2004
2003	$7.04B	$569.00M	12.4×	-22.6×	Dec 31, 2003
2002	$5.18B	$148.00M	35.0×	+20.9×	Dec 31, 2002
2001	$4.83B	$343.00M	14.1×	—	Dec 31, 2001


Eversource Energy (ES)	110.1×
Constellation Energy (CEG)	86.9×
NextEra Energy (NEE)	82.1×
American States Water (AWR)	77.8×
Middlesex Water (MSEX)	63.1×
Vistra (VST)	52.9×
UGI (UGI)	32.9×
GE Vernova (GEV)	31.2×
FirstEnergy (FE)	16.3×
Duke Energy (DUK)	15.4×
Consolidated Edison (ED)	14.6×
American Electric Power Company (AEP)	11.5×
Avista (AVA)	7.9×

P/FCF Ratio for PPL (PPL)

P/FCF Ratio daily chart for PPL (PPL)

Historical P/FCF Ratio for PPL (PPL) from 2001 to 2025

About P/FCF Ratio at PPL (PPL)

PPL P/FCF Ratio by Year

PPL P/FCF Ratio 2021: 75.4×

PPL P/FCF Ratio 2020: 45.5×

PPL P/FCF Ratio 2011: 789.2×

PPL P/FCF Ratio 2010: 34.3×

PPL P/FCF Ratio 2009: 21.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

PPL (PPL) Key Financials

P/FCF Ratio daily chart for PPL (PPL)

Historical P/FCF Ratio for PPL (PPL) from 2001 to 2025

About P/FCF Ratio at PPL (PPL)

PPL P/FCF Ratio by Year

PPL P/FCF Ratio 2021: 75.4×

PPL P/FCF Ratio 2020: 45.5×

PPL P/FCF Ratio 2011: 789.2×

PPL P/FCF Ratio 2010: 34.3×

PPL P/FCF Ratio 2009: 21.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is PPL's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for PPL?

+Is PPL's P/FCF ratio high or low?

+What is PPL's historical P/FCF ratio range?

+What was PPL's P/FCF ratio in 2021?

+Why does PPL's P/FCF ratio change over time?

PPL (PPL) Key Financials