43/100B35.420
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Q4 FY2026 · Earnings report
EPS estimate 0.47Revenue estimate 2.46B
Q4 FY2026 · Earnings report
EPS estimate 0.47Revenue estimate 2.46B
PPL total debt 1995–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
PPL's total debt was 20.89B USD on 30 September 2026, up 10.0% on a year before. At the end of fiscal year 2025 it was 19.35B USD.
Last updated 8 Nov 2026 · Next report 19 Feb 2027
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Sept 2026 | 20.89B | +10.03% | 393.00M | -20.50B | 1.37 |
| FY2025 | 31 Dec 2025 | 19.35B | +15.14% | 1.09B | -18.26B | 1.30 |
| FY2024 | 31 Dec 2024 | 16.81B | +7.70% | 306.00M | -16.50B | 1.19 |
| FY2023 | 31 Dec 2023 | 15.60B | +9.67% | 331.00M | -15.27B | 1.12 |
| FY2022 | 31 Dec 2022 | 14.23B | +26.93% | 356.00M | -13.87B | 1.02 |
| FY2021 | 31 Dec 2021 | 11.21B | -29.31% | 3.57B | -7.64B | 0.82 |
| FY2020 | 31 Dec 2020 | 15.86B | -31.19% | 442.00M | -15.42B | 1.19 |
| FY2019 | 31 Dec 2019 | 23.04B | +4.61% | 815.00M | -22.23B | 1.77 |
| FY2018 | 31 Dec 2018 | 22.03B | +3.54% | 621.00M | -21.41B | 1.89 |
| FY2017 | 31 Dec 2017 | 21.28B | +10.53% | 485.00M | -20.79B | 1.98 |
| FY2016 | 31 Dec 2016 | 19.25B | -3.58% | 341.00M | -18.91B | 1.94 |
| FY2015 | 31 Dec 2015 | 19.96B | +5.69% | 836.00M | -19.13B | 2.01 |
| FY2014 | 31 Dec 2014 | 18.89B | -12.58% | 1.52B | -17.37B | 1.39 |
| FY2013 | 31 Dec 2013 | 21.61B | +7.35% | 1.10B | -20.51B | 1.73 |
| FY2012 | 31 Dec 2012 | 20.13B | +8.38% | 901.00M | -19.23B | 1.92 |
| FY2011 | 31 Dec 2011 | 18.57B | +39.04% | 1.22B | -17.35B | 1.72 |
| FY2010 | 31 Dec 2010 | 13.36B | +71.64% | 1.09B | -12.27B | 1.63 |
| FY2009 | 31 Dec 2009 | 7.78B | -8.63% | 801.00M | -6.98B | 1.42 |
| FY2008 | 31 Dec 2008 | 8.52B | +11.19% | 1.25B | -7.27B | 1.68 |
| FY2007 | 31 Dec 2007 | 7.66B | -2.75% | 633.00M | -7.03B | 1.38 |
| FY2006 | 31 Dec 2006 | 7.88B | +6.68% | 794.00M | -7.08B | 1.54 |
| FY2005 | 31 Dec 2005 | 7.38B | -5.20% | 555.00M | -6.83B | 1.65 |
| FY2004 | 31 Dec 2004 | 7.79B | -9.39% | 616.00M | -7.17B | 1.82 |
| FY2003 | 31 Dec 2003 | 8.60B | +19.22% | 476.00M | -8.12B | 2.60 |
| FY2002 | 31 Dec 2002 | 7.21B | +26.56% | 245.00M | -6.97B | 3.13 |
| FY2001 | 31 Dec 2001 | 5.70B | -2.13% | 933.00M | -4.76B | 2.94 |
| FY2000 | 31 Dec 2000 | 5.82B | +11.13% | 480.00M | -5.34B | 2.76 |
| FY1999 | 31 Dec 1999 | 5.24B | +26.43% | 133.00M | -5.11B | 3.06 |
| FY1998 | 31 Dec 1998 | 4.14B | +25.89% | 195.00M | -3.95B | 2.20 |
| FY1997 | 31 Dec 1997 | 3.29B | +2.11% | 56.00M | -3.24B | 1.13 |
| FY1996 | 31 Dec 1996 | 3.22B | +1.75% | 174.00M | -3.05B | 1.00 |
| FY1995 | 31 Dec 1995 | 3.17B | — | 115.90M | -3.05B | 1.03 |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 20.89B | +10.03% | 393.00M | -20.50B | 1.37 |
| Q2 FY2026 | 30 Jun 2026 | 20.32B | +14.19% | 332.00M | -19.99B | 1.35 |
| Q1 FY2026 | 31 Mar 2026 | 20.24B | +17.08% | 1.25B | -18.99B | 1.35 |
| Q4 FY2025 | 31 Dec 2025 | 19.35B | +15.14% | 1.09B | -18.26B | 1.30 |
| Q3 FY2025 | 30 Sept 2025 | 18.99B | +15.07% | 1.12B | -17.87B | 1.32 |
| Q2 FY2025 | 30 Jun 2025 | 17.80B | +10.23% | 294.00M | -17.50B | 1.25 |
| Q1 FY2025 | 31 Mar 2025 | 17.29B | +7.73% | 312.00M | -16.97B | 1.21 |
| Q4 FY2024 | 31 Dec 2024 | 16.81B | +7.70% | 306.00M | -16.50B | 1.19 |
| Q3 FY2024 | 30 Sept 2024 | 16.50B | +11.02% | 542.00M | -15.96B | 1.17 |
| Q2 FY2024 | 30 Jun 2024 | 16.15B | +8.98% | 282.00M | -15.86B | 1.15 |
| Q1 FY2024 | 31 Mar 2024 | 16.05B | +10.01% | 276.00M | -15.77B | 1.14 |
| Q4 FY2023 | 31 Dec 2023 | 15.60B | +9.67% | 331.00M | -15.27B | 1.12 |
| Q3 FY2023 | 30 Sept 2023 | 14.86B | +8.08% | 353.00M | -14.51B | 1.06 |
| Q2 FY2023 | 30 Jun 2023 | 14.82B | +8.60% | 326.00M | -14.49B | 1.06 |
| Q1 FY2023 | 31 Mar 2023 | 14.59B | +20.27% | 460.00M | -14.13B | 1.04 |
| Q4 FY2022 | 31 Dec 2022 | 14.23B | +26.93% | 356.00M | -13.87B | 1.02 |
| Q3 FY2022 | 30 Sept 2022 | 13.75B | +23.45% | 303.00M | -13.45B | 0.99 |
| Q2 FY2022 | 30 Jun 2022 | 13.64B | +2.61% | 336.00M | -13.31B | 0.98 |
| Q1 FY2022 | 31 Mar 2022 | 12.13B | -25.32% | 4.25B | -7.88B | 0.87 |
| Q4 FY2021 | 31 Dec 2021 | 11.21B | -29.31% | 3.57B | -7.64B | 0.82 |
| Q3 FY2021 | 30 Sept 2021 | 11.14B | -53.85% | 4.77B | -6.37B | 0.76 |
| Q2 FY2021 | 30 Jun 2021 | 13.30B | -44.57% | 7.63B | -5.67B | 0.89 |
| Q1 FY2021 | 31 Mar 2021 | 16.24B | -31.01% | 421.00M | -15.82B | 1.41 |
| Q4 FY2020 | 31 Dec 2020 | 15.86B | -31.19% | 442.00M | -15.42B | 1.19 |
| Q3 FY2020 | 30 Sept 2020 | 24.14B | +5.24% | 746.00M | -23.39B | 1.76 |
| Q2 FY2020 | 30 Jun 2020 | 23.98B | +5.48% | 1.28B | -22.71B | 1.84 |
| Q1 FY2020 | 31 Mar 2020 | 23.54B | +3.48% | 915.00M | -22.62B | 1.78 |
| Q4 FY2019 | 31 Dec 2019 | 23.04B | +4.61% | 815.00M | -22.23B | 1.77 |
| Q3 FY2019 | 30 Sept 2019 | 22.93B | +5.19% | 670.00M | -22.26B | 1.93 |
| Q2 FY2019 | 30 Jun 2019 | 22.74B | +2.03% | 406.00M | -22.33B | 1.90 |
| Q1 FY2019 | 31 Mar 2019 | 22.74B | +3.75% | 518.00M | -22.23B | 1.87 |
| Q4 FY2018 | 31 Dec 2018 | 22.03B | +3.54% | 621.00M | -21.41B | 1.89 |
| Q3 FY2018 | 30 Sept 2018 | 21.80B | +4.98% | 842.00M | -20.96B | 1.85 |
| Q2 FY2018 | 30 Jun 2018 | 22.28B | +8.36% | 852.00M | -21.43B | 1.98 |
| Q1 FY2018 | 31 Mar 2018 | 21.92B | +9.38% | 629.00M | -21.29B | 1.96 |
| Q4 FY2017 | 31 Dec 2017 | 21.28B | +10.53% | 485.00M | -20.79B | 1.98 |
| Q3 FY2017 | 30 Sept 2017 | 20.77B | +8.47% | 676.00M | -20.09B | 1.94 |
| Q2 FY2017 | 30 Jun 2017 | 20.57B | +2.70% | 467.00M | -20.10B | 1.96 |
| Q1 FY2017 | 31 Mar 2017 | 20.04B | +1.09% | 409.00M | -19.63B | 1.98 |
| Q4 FY2016 | 31 Dec 2016 | 19.25B | -3.58% | 341.00M | -18.91B | 1.94 |
| Q3 FY2016 | 30 Sept 2016 | 19.15B | -3.11% | 416.00M | -18.73B | 1.92 |
| Q2 FY2016 | 30 Jun 2016 | 20.02B | +4.28% | 492.00M | -19.53B | 1.94 |
| Q1 FY2016 | 31 Mar 2016 | 19.82B | -9.49% | 814.00M | -19.01B | 2.03 |
| Q4 FY2015 | 31 Dec 2015 | 19.96B | +5.69% | 836.00M | -19.13B | 2.01 |
| Q3 FY2015 | 30 Sept 2015 | 19.76B | -9.58% | 981.00M | -18.78B | 1.93 |
| Q2 FY2015 | 30 Jun 2015 | 19.20B | -12.44% | 846.00M | -18.36B | 1.93 |
| Q1 FY2015 | 31 Mar 2015 | 21.90B | -2.21% | 1.47B | -20.43B | 1.56 |
| Q4 FY2014 | 31 Dec 2014 | 18.89B | -12.58% | 1.52B | -17.37B | 1.39 |
| Q3 FY2014 | 30 Sept 2014 | 21.86B | +7.44% | 1.19B | -20.67B | 1.56 |
| Q2 FY2014 | 30 Jun 2014 | 21.93B | +5.28% | 1.27B | -20.66B | 1.60 |
| Q1 FY2014 | 31 Mar 2014 | 22.40B | +8.23% | 1.26B | -21.14B | 1.76 |
| Q4 FY2013 | 31 Dec 2013 | 21.61B | +7.35% | 1.10B | -20.51B | 1.73 |
| Q3 FY2013 | 30 Sept 2013 | 20.34B | +4.05% | 1.29B | -19.05B | 1.65 |
| Q2 FY2013 | 30 Jun 2013 | 20.83B | +6.29% | 711.00M | -20.12B | 1.90 |
| Q1 FY2013 | 31 Mar 2013 | 20.69B | +10.36% | 853.00M | -19.84B | 1.97 |
| Q4 FY2012 | 31 Dec 2012 | 20.13B | +8.38% | 901.00M | -19.23B | 1.92 |
| Q3 FY2012 | 30 Sept 2012 | 19.55B | +5.08% | 946.00M | -18.60B | 1.74 |
| Q2 FY2012 | 30 Jun 2012 | 19.60B | +6.14% | 981.00M | -18.62B | 1.79 |
| Q1 FY2012 | 31 Mar 2012 | 18.75B | +37.56% | 1.10B | -17.65B | 1.66 |
| Q4 FY2011 | 31 Dec 2011 | 18.57B | +39.04% | 1.22B | -17.35B | 1.72 |
| Q3 FY2011 | 30 Sept 2011 | 18.61B | +106.26% | 1.53B | -17.08B | 1.72 |
| Q2 FY2011 | 30 Jun 2011 | 18.47B | +101.21% | 1.27B | -17.20B | 1.73 |
| Q1 FY2011 | 31 Mar 2011 | 13.63B | +65.39% | 1.25B | -12.39B | 1.60 |
| Q4 FY2010 | 31 Dec 2010 | 13.36B | +71.64% | 1.09B | -12.27B | 1.63 |
| Q3 FY2010 | 30 Sept 2010 | 9.02B | +14.61% | 4.85B | -4.17B | 1.08 |
| Q2 FY2010 | 30 Jun 2010 | 9.18B | +10.29% | 4.51B | -4.67B | 1.16 |
| Q1 FY2010 | 31 Mar 2010 | 8.24B | +4.89% | 1.72B | -6.52B | 1.40 |
| Q4 FY2009 | 31 Dec 2009 | 7.78B | -8.63% | 801.00M | -6.98B | 1.42 |
| Q3 FY2009 | 30 Sept 2009 | 7.87B | +13.83% | 696.00M | -7.17B | 1.40 |
| Q2 FY2009 | 30 Jun 2009 | 8.32B | +8.21% | 973.00M | -7.35B | 1.51 |
| Q1 FY2009 | 31 Mar 2009 | 7.86B | -0.61% | 781.00M | -7.08B | 1.50 |
| Q4 FY2008 | 31 Dec 2008 | 8.52B | +11.19% | 1.25B | -7.27B | 1.68 |
| Q3 FY2008 | 30 Sept 2008 | 6.91B | -11.73% | 349.00M | -6.57B | 1.24 |
| Q2 FY2008 | 30 Jun 2008 | 7.69B | +0.13% | 955.00M | -6.74B | 1.48 |
| Q1 FY2008 | 31 Mar 2008 | 7.91B | -1.42% | 773.00M | -7.13B | 1.42 |
| Q4 FY2007 | 31 Dec 2007 | 7.66B | -2.75% | 633.00M | -7.03B | 1.38 |
| Q3 FY2007 | 30 Sept 2007 | 7.83B | +6.98% | 574.00M | -7.26B | 1.52 |
| Q2 FY2007 | 30 Jun 2007 | 7.68B | +9.98% | 742.00M | -6.94B | 1.43 |
| Q1 FY2007 | 31 Mar 2007 | 8.02B | +12.66% | 965.00M | -7.05B | 1.52 |
| Q4 FY2006 | 31 Dec 2006 | 7.88B | +6.68% | 794.00M | -7.08B | 1.54 |
| Q3 FY2006 | 30 Sept 2006 | 7.32B | +6.46% | 800.00M | -6.52B | 1.36 |
| Q2 FY2006 | 30 Jun 2006 | 6.98B | -3.20% | 468.00M | -6.52B | 1.35 |
| Q1 FY2006 | 31 Mar 2006 | 7.12B | -8.57% | 338.00M | -6.78B | 1.49 |
| Q4 FY2005 | 31 Dec 2005 | 7.38B | -5.20% | 555.00M | -6.83B | 1.65 |
| Q3 FY2005 | 30 Sept 2005 | 6.88B | -13.46% | 235.00M | -6.64B | 1.58 |
| Q2 FY2005 | 30 Jun 2005 | 7.21B | -6.01% | 481.00M | -6.73B | 1.66 |
| Q1 FY2005 | 31 Mar 2005 | 7.79B | -9.12% | 754.00M | -7.03B | 1.78 |
| Q4 FY2004 | 31 Dec 2004 | 7.79B | -9.39% | 616.00M | -7.17B | 1.82 |
| Q3 FY2004 | 30 Sept 2004 | 7.95B | +5.38% | 778.00M | -7.17B | 1.88 |
| Q2 FY2004 | 30 Jun 2004 | 7.68B | +9.24% | 358.00M | -7.32B | 1.87 |
| Q1 FY2004 | 31 Mar 2004 | 8.57B | +15.84% | 572.00M | -7.99B | 2.46 |
| Q4 FY2003 | 31 Dec 2003 | 8.60B | +19.22% | 476.00M | -8.12B | 2.60 |
| Q3 FY2003 | 30 Sept 2003 | 7.54B | +2.11% | 587.00M | -6.96B | 2.49 |
| Q2 FY2003 | 30 Jun 2003 | 7.03B | +22.64% | 370.00M | -6.66B | 2.38 |
| Q1 FY2003 | 31 Mar 2003 | 7.40B | +31.33% | 397.00M | -7.00B | 2.90 |
| Q4 FY2002 | 31 Dec 2002 | 7.21B | +26.56% | 245.00M | -6.97B | 3.13 |
| Q3 FY2002 | 30 Sept 2002 | 7.39B | +33.32% | 339.00M | -7.05B | 2.93 |
| Q2 FY2002 | 30 Jun 2002 | 5.73B | +14.63% | 193.00M | -5.54B | 2.93 |
| Q1 FY2002 | 31 Mar 2002 | 5.63B | -1.81% | 486.00M | -5.15B | 2.97 |
| Q4 FY2001 | 31 Dec 2001 | 5.70B | -2.13% | 933.00M | -4.76B | 2.94 |
| Q3 FY2001 | 30 Sept 2001 | 5.54B | -0.86% | 849.00M | -4.69B | 2.28 |
| Q2 FY2001 | 30 Jun 2001 | 5.00B | -11.85% | 168.00M | -4.83B | 2.13 |
| Q1 FY2001 | 31 Mar 2001 | 5.74B | +9.57% | 269.00M | -5.47B | 2.73 |
| Q4 FY2000 | 31 Dec 2000 | 5.82B | +11.13% | 480.00M | -5.34B | 2.76 |
| Q3 FY2000 | 30 Sept 2000 | 5.59B | +10.46% | 280.00M | -5.31B | 2.80 |
| Q2 FY2000 | 30 Jun 2000 | 5.67B | +29.54% | 215.00M | -5.46B | 3.03 |
| Q1 FY2000 | 31 Mar 2000 | 5.23B | +28.06% | 160.00M | -5.07B | 2.85 |
| Q4 FY1999 | 31 Dec 1999 | 5.24B | +26.43% | 133.00M | -5.11B | 3.06 |
| Q3 FY1999 | 30 Sept 1999 | 5.06B | +23.93% | 340.00M | -4.72B | 3.15 |
| Q2 FY1999 | 30 Jun 1999 | 4.38B | +20.15% | 393.00M | -3.98B | 2.21 |
| Q1 FY1999 | 31 Mar 1999 | 4.09B | +18.02% | 140.00M | -3.95B | 2.08 |
| Q4 FY1998 | 31 Dec 1998 | 4.14B | +25.89% | 195.00M | -3.95B | 2.20 |
| Q3 FY1998 | 30 Sept 1998 | 4.08B | +23.06% | 81.00M | -4.00B | 2.23 |
| Q2 FY1998 | 30 Jun 1998 | 3.64B | +46.78% | 36.00M | -3.61B | 1.82 |
| Q1 FY1998 | 31 Mar 1998 | 3.46B | +4.65% | 154.00M | -3.31B | 1.17 |
| Q4 FY1997 | 31 Dec 1997 | 3.29B | +2.11% | 56.00M | -3.24B | 1.13 |
| Q3 FY1997 | 30 Sept 1997 | 3.32B | +4.14% | 81.00M | -3.24B | 1.15 |
| Q2 FY1997 | 30 Jun 1997 | 2.48B | -22.94% | 0.00 | -2.48B | 0.79 |
| Q1 FY1997 | 31 Mar 1997 | 3.31B | +7.09% | 94.00M | -3.22B | 1.01 |
| Q4 FY1996 | 31 Dec 1996 | 3.22B | +1.75% | 174.00M | -3.05B | 1.00 |
| Q3 FY1996 | 30 Sept 1996 | 3.19B | +1.34% | 110.00M | -3.08B | 1.01 |
| Q2 FY1996 | 30 Jun 1996 | 3.22B | -2.90% | 120.00M | -3.10B | 1.03 |
| Q1 FY1996 | 31 Mar 1996 | 3.09B | -3.42% | 125.00M | -2.97B | 0.99 |
| Q4 FY1995 | 31 Dec 1995 | 3.17B | — | 115.90M | -3.05B | 1.03 |
| Q3 FY1995 | 30 Sept 1995 | 3.14B | — | 94.40M | -3.05B | 1.04 |
| Q2 FY1995 | 30 Jun 1995 | 3.32B | — | 97.40M | -3.22B | 1.11 |
| Q1 FY1995 | 31 Mar 1995 | 3.20B | -0.55% | 106.70M | -3.09B | 1.07 |
| Q1 FY1994 | 31 Mar 1994 | 3.22B | — | 87.90M | -3.13B | 1.06 |
Figures in USD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about PPL's debt
Source: Financial Modeling PrepVerified against SEC filings