Question 1

What is PPL's P/B ratio?

Accepted Answer

PPL (PPL) P/B ratio is 1.8× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for PPL?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For PPL specifically, the relevant sector benchmark is the current sector median of 2.1×.

Question 5

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

Accepted Answer

PPL's P/B ratio of 1.8× is above its own 5-year average of 1.6× and below the sector median of 2.1×. That places the current reading at the 76th 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/B ratio range?

Accepted Answer

In the available daily series, PPL (PPL) P/B ratio has ranged from a low of 1.1× in 2010 to a high of 3.5× in 2008. The 5-year average is 1.6× and the 5-year median is 1.5×.

Question 7

What was PPL's P/B ratio in 2025?

Accepted Answer

PPL (PPL) P/B ratio at the end of 2025 was 1.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	$14.88B	1.7×	+0.0×	Dec 31, 2025
2024	$23.96B	$14.08B	1.7×	+0.3×	Dec 31, 2024
2023	$19.98B	$13.93B	1.4×	-0.1×	Dec 31, 2023
2022	$21.52B	$13.91B	1.5×	-0.1×	Dec 31, 2022
2021	$22.41B	$13.72B	1.6×	+0.0×	Dec 31, 2021
2020	$21.68B	$13.37B	1.6×	-0.4×	Dec 31, 2020
2019	$26.86B	$12.99B	2.1×	+0.3×	Dec 31, 2019
2018	$20.40B	$11.66B	1.8×	-0.2×	Dec 31, 2018
2017	$21.34B	$10.76B	2.0×	-0.4×	Dec 31, 2017
2016	$23.14B	$9.90B	2.3×	+0.0×	Dec 31, 2016
2015	$22.97B	$9.92B	2.3×	+0.7×	Dec 31, 2015
2014	$22.42B	$13.63B	1.6×	+0.2×	Dec 31, 2014
2013	$17.59B	$12.47B	1.4×	-0.1×	Dec 31, 2013
2012	$15.45B	$10.48B	1.5×	+0.0×	Dec 31, 2012
2011	$15.78B	$10.83B	1.5×	+0.0×	Dec 31, 2011
2010	$11.80B	$8.21B	1.4×	-0.6×	Dec 31, 2010
2009	$11.30B	$5.50B	2.1×	-0.0×	Dec 31, 2009
2008	$10.66B	$5.08B	2.1×	-1.1×	Dec 31, 2008
2007	$17.91B	$5.56B	3.2×	+0.7×	Dec 31, 2007
2006	$12.74B	$5.12B	2.5×	+0.2×	Dec 31, 2006
2005	$10.32B	$4.47B	2.3×	+0.1×	Dec 31, 2005
2004	$9.33B	$4.29B	2.2×	+0.0×	Dec 31, 2004
2003	$7.04B	$3.31B	2.1×	-0.1×	Dec 31, 2003
2002	$5.18B	$2.31B	2.2×	-0.2×	Dec 31, 2002
2001	$4.83B	$1.94B	2.5×	—	Dec 31, 2001


American Electric Power Company (AEP)	2.2×
MGE Energy (MGEE)	2.1×
New Jersey Resources (NJR)	2.1×
Xcel Energy (XEL)	2.1×
Atmos Energy (ATO)	2.1×
Sempra (SRE)	2.0×
Middlesex Water (MSEX)	1.9×
Duke Energy (DUK)	1.9×
Dominion Energy (D)	1.9×
Evergy (EVRG)	1.9×
Pinnacle West Capital (PNW)	1.7×
Exelon (EXC)	1.7×
Essential Utilities (WTRG)	1.7×
Edison International (EIX)	1.6×
Consolidated Edison (ED)	1.6×
Eversource Energy (ES)	1.6×
California Water Service Group (CWT)	1.5×
UGI (UGI)	1.4×
Northwest Natural Holding (NWN)	1.4×
Black Hills (BKH)	1.3×
Artesian Resources (ARTNA)	1.3×
H2O America (HTO)	1.2×
Avista (AVA)	1.2×
PG&E (PCG)	1.2×
Algonquin Power & Utilities (AQN)	1.0×

P/B Ratio for PPL (PPL)

P/B Ratio daily chart for PPL (PPL)

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

About P/B Ratio at PPL (PPL)

PPL P/B Ratio by Year

PPL P/B Ratio 2025: 1.7×

PPL P/B Ratio 2024: 1.7×

PPL P/B Ratio 2023: 1.4×

PPL P/B Ratio 2022: 1.5×

PPL P/B Ratio 2021: 1.6×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

PPL (PPL) Key Financials

P/B Ratio daily chart for PPL (PPL)

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

About P/B Ratio at PPL (PPL)

PPL P/B Ratio by Year

PPL P/B Ratio 2025: 1.7×

PPL P/B Ratio 2024: 1.7×

PPL P/B Ratio 2023: 1.4×

PPL P/B Ratio 2022: 1.5×

PPL P/B Ratio 2021: 1.6×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is PPL's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

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

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

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

+What was PPL's P/B ratio in 2025?

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

PPL (PPL) Key Financials