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PPL Corporation cash flow statement

In fiscal 2025, PPL Corporation's operations generated $2.63bn of cash; it spent $4.03bn on capital projects, leaving free cash flow of −$1.40bn. It returned $794m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations1,8522,0332,5072,7642,8563,4032,6152,8902,4612,8212,4272,7462,2701,7301,7582,3402,6292,654
Depreciation and amortisation————8439238839261,0081,0949491,0221,0821,1811,2541,2791,3121,379
Stock-based pay—26334951643128382636293737334649—
Capital spending1,2251,5972,4873,1053,6293,6743,5332,9203,1333,2382,2432,2701,9732,1552,3902,8054,0304,646
Free cash flow62743620−341−773−271−918−30−672−417184476297−425−632−465−1,401−1,992
Free cash flow after stock pay—410−13−390−824−335−949−58−710−443148447260−462−665−511−1,450—
Dividends paid5175667468338789671,0041,0301,0721,1331,1921,2751,279787704747794818
Share buybacks0——07400———001,00300———
Shares issued602,4412,297721,4111,0742031444536981,167349—————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from PPL Corporation's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to PPL Corporation.