PPL Corporation (PPL)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	14,611,000	14,484,000	14,481,000	14,481,000	12,889,000	12,977,000	12,153,000	10,668,000	10,666,000	10,665,000	11,095,000	13,715,000	13,615,000	21,243,000	21,098,000	20,670,000	20,721,000	21,547,000	20,965,000	21,114,000
Total stockholders’ equity	US$ in thousands	13,933,000	14,012,000	13,959,000	14,033,000	13,915,000	13,881,000	13,870,000	13,865,000	13,723,000	14,576,000	14,952,000	11,554,000	13,373,000	13,686,000	13,044,000	13,241,000	12,991,000	11,902,000	11,983,000	12,172,000
Debt-to-capital ratio		0.51	0.51	0.51	0.51	0.48	0.48	0.47	0.43	0.44	0.42	0.43	0.54	0.50	0.61	0.62	0.61	0.61	0.64	0.64	0.63

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $14,611,000K ÷ ($14,611,000K + $13,933,000K)
= 0.51

The debt-to-capital ratio of PPL Corp has been relatively stable over the past eight quarters, ranging from 0.47 to 0.53. This ratio represents the proportion of the company's total debt to its total capital, including both debt and equity.

With a debt-to-capital ratio consistently above 0.50, PPL Corp has had a higher reliance on debt financing compared to equity financing. This indicates that the company carries a significant amount of debt relative to its total capital structure.

Overall, a stable debt-to-capital ratio may suggest that PPL Corp has been managing its debt levels effectively and maintaining a consistent capital structure. However, investors and creditors should continue to monitor this ratio to ensure that the company's debt levels remain sustainable and in line with its overall financial health and risk tolerance.