Question 1

What is PPL's P/E ratio?

Accepted Answer

PPL (PPL) P/E ratio is 22.4× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for PPL?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For PPL specifically, the relevant sector benchmark is the current sector median of 21.4×.

Question 5

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

Accepted Answer

PPL's P/E ratio of 22.4× is below its own 5-year average of 44.9× and above the sector median of 21.4×. That places the current reading at the 5th 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/E ratio range?

Accepted Answer

In the available daily series, PPL (PPL) P/E ratio has ranged from a low of 13.9× in 2008 to a high of 829.8× in 2002. The 5-year average is 44.9× and the 5-year median is 45.9×.

Question 7

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

Accepted Answer

PPL (PPL) P/E ratio at the end of 2025 was 31.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$37.7B	$1.18B	31.9×	-10.4×	Dec 31, 2025
2024	$37.6B	$888M	42.3×	-8.4×	Dec 31, 2024
2023	$37.5B	$740M	50.7×	+1.1×	Dec 31, 2023
2022	$37.5B	$756M	49.6×	—	Dec 31, 2022
2021	$37.9B	-$1.48B	—	—	Dec 31, 2021
2020	$39.1B	$1.47B	26.6×	+4.8×	Dec 31, 2020
2019	$38.1B	$1.75B	21.8×	+1.8×	Dec 31, 2019
2018	$36.7B	$1.83B	20.1×	-11.0×	Dec 31, 2018
2017	$35.1B	$1.13B	31.1×	+12.9×	Dec 31, 2017
2016	$34.6B	$1.9B	18.2×	-32.0×	Dec 31, 2016
2015	$34.3B	$682M	50.2×	+30.7×	Dec 31, 2015
2014	$33.9B	$1.74B	19.5×	-8.9×	Dec 31, 2014
2013	$32.1B	$1.13B	28.4×	+9.0×	Dec 31, 2013
2012	$29.6B	$1.53B	19.4×	-0.3×	Dec 31, 2012
2011	$29.4B	$1.5B	19.7×	-6.5×	Dec 31, 2011
2010	$24.6B	$938M	26.2×	-20.9×	Dec 31, 2010
2009	$19.2B	$407M	47.1×	+26.7×	Dec 31, 2009
2008	$19B	$934M	20.4×	+6.0×	Dec 31, 2008
2007	$18.9B	$1.31B	14.4×	-8.1×	Dec 31, 2007
2006	$19.5B	$865M	22.5×	-2.2×	Dec 31, 2006
2005	$19.3B	$778M	24.8×	-2.8×	Dec 31, 2005
2004	$19.2B	$698M	27.5×	+3.5×	Dec 31, 2004
2003	$17.6B	$734M	24.0×	-36.2×	Dec 31, 2003
2002	$16.4B	$272M	60.3×	—	Dec 31, 2002


American States Water (AWR)	22.1×
Middlesex Water (MSEX)	21.8×
Evergy (EVRG)	21.4×
H2O America (HTO)	21.2×
CMS Energy (CMS)	21.1×
Essential Utilities (WTRG)	20.5×
Ameren (AEE)	19.9×
Duke Energy (DUK)	19.8×
MGE Energy (MGEE)	19.8×
American Electric Power Company (AEP)	19.4×
Consolidated Edison (ED)	19.1×
Pinnacle West Capital (PNW)	18.7×
Dominion Energy (D)	18.3×
Black Hills (BKH)	18.2×
Exelon (EXC)	18.1×
Public Service Enterprise Group (PEG)	17.8×
Northwest Natural Holding (NWN)	17.7×
New Jersey Resources (NJR)	16.2×
Avista (AVA)	16.0×
Eversource Energy (ES)	14.9×
Artesian Resources (ARTNA)	14.1×
PG&E (PCG)	13.1×
UGI (UGI)	12.2×
Edison International (EIX)	7.6×
AES (AES)	7.5×

P/E Ratio for PPL (PPL) 2002-2026

P/E Ratio daily chart for PPL (PPL)

Historical P/E Ratio for PPL (PPL) from 2002 to 2025

About P/E Ratio at PPL (PPL)

PPL P/E Ratio by Year

PPL P/E Ratio 2025: 31.9×

PPL P/E Ratio 2024: 42.3×

PPL P/E Ratio 2023: 50.7×

PPL P/E Ratio 2022: 49.6×

PPL P/E Ratio 2020: 26.6×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

PPL (PPL) Key Financials