Question 1

What is PPL's P/S ratio?

Accepted Answer

PPL (PPL) P/S ratio is 2.9× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for PPL?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For PPL specifically, the relevant sector benchmark is the current sector median of 3.1×.

Question 5

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

Accepted Answer

PPL's P/S ratio of 2.9× is below its own 5-year average of 4.9× and below the sector median of 3.1×. That places the current reading at the 46th 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/S ratio range?

Accepted Answer

In the available daily series, PPL (PPL) P/S ratio has ranged from a low of 1.9× in 2023 to a high of 6.5× in 2020. The 5-year average is 4.9× and the 5-year median is 4.5×.

Question 7

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

Accepted Answer

PPL (PPL) P/S ratio at the end of 2025 was 4.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$9.04B	4.2×	-0.3×	Dec 31, 2025
2024	$37.6B	$8.46B	4.4×	-0.1×	Dec 31, 2024
2023	$37.5B	$8.31B	4.5×	-0.2×	Dec 31, 2023
2022	$37.5B	$7.9B	4.7×	-1.8×	Dec 31, 2022
2021	$37.9B	$5.78B	6.6×	+0.1×	Dec 31, 2021
2020	$39.1B	$6.03B	6.5×	+1.6×	Dec 31, 2020
2019	$38.1B	$7.77B	4.9×	+0.2×	Dec 31, 2019
2018	$36.7B	$7.79B	4.7×	-0.0×	Dec 31, 2018
2017	$35.1B	$7.45B	4.7×	+0.1×	Dec 31, 2017
2016	$34.6B	$7.52B	4.6×	+0.1×	Dec 31, 2016
2015	$34.3B	$7.67B	4.5×	+0.7×	Dec 31, 2015
2014	$33.9B	$8.95B	3.8×	+1.1×	Dec 31, 2014
2013	$32.1B	$11.8B	2.7×	+0.3×	Dec 31, 2013
2012	$29.6B	$12.3B	2.4×	+0.1×	Dec 31, 2012
2011	$29.4B	$12.7B	2.3×	-0.6×	Dec 31, 2011
2010	$24.6B	$8.52B	2.9×	+0.3×	Dec 31, 2010
2009	$19.2B	$7.52B	2.5×	+0.2×	Dec 31, 2009
2008	$19B	$8.02B	2.4×	-0.5×	Dec 31, 2008
2007	$18.9B	$6.51B	2.9×	-0.1×	Dec 31, 2007
2006	$19.5B	$6.47B	3.0×	-0.1×	Dec 31, 2006
2005	$19.3B	$6.19B	3.1×	-0.2×	Dec 31, 2005
2004	$19.2B	$5.8B	3.3×	+0.2×	Dec 31, 2004
2003	$17.6B	$5.6B	3.2×	+0.2×	Dec 31, 2003
2002	$16.4B	$5.49B	3.0×	—	Dec 31, 2002


Vistra (VST)	3.2×
Dominion Energy (D)	3.1×
Duke Energy (DUK)	3.1×
CenterPoint Energy (CNP)	3.0×
Artesian Resources (ARTNA)	2.9×
H2O America (HTO)	2.7×
California Water Service Group (CWT)	2.7×
CMS Energy (CMS)	2.6×
New Jersey Resources (NJR)	2.5×
Consolidated Edison (ED)	2.4×
MDU Resources Group (MDU)	2.4×
Black Hills (BKH)	2.3×
Pinnacle West Capital (PNW)	2.2×
Exelon (EXC)	2.0×
FirstEnergy (FE)	1.9×
Eversource Energy (ES)	1.9×
Algonquin Power & Utilities (AQN)	1.9×
DTE Energy (DTE)	1.9×
Avista (AVA)	1.7×
Northwest Natural Holding (NWN)	1.7×
PG&E (PCG)	1.5×
Edison International (EIX)	1.4×
UGI (UGI)	1.1×
NRG Energy (NRG)	0.9×
AES (AES)	0.8×

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

P/S Ratio daily chart for PPL (PPL)

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

About P/S Ratio at PPL (PPL)

PPL P/S Ratio by Year

PPL P/S Ratio 2025: 4.2×

PPL P/S Ratio 2024: 4.4×

PPL P/S Ratio 2023: 4.5×

PPL P/S Ratio 2022: 4.7×

PPL P/S Ratio 2021: 6.6×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

PPL (PPL) Key Financials