PPL Corporation (PPL)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	14,611,000	12,889,000	10,666,000	13,615,000	20,721,000
Total stockholders’ equity	US$ in thousands	13,933,000	13,915,000	13,723,000	13,373,000	12,991,000
Debt-to-equity ratio		1.05	0.93	0.78	1.02	1.60

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $14,611,000K ÷ $13,933,000K
= 1.05

PPL Corp's debt-to-equity ratio has fluctuated over the past five years. In 2023, the ratio increased to 1.12 from 1.02 in 2022, indicating a higher level of debt relative to equity. This rise suggests that the company may be relying more on debt financing compared to equity financing in the most recent year.

Comparing this to 2021 when the ratio was 0.82, PPL Corp had a lower level of debt relative to equity, indicating a more conservative financial structure. However, in 2020 and 2019, the ratio was significantly higher at 1.85 and 1.77 respectively, suggesting higher leverage and potential financial risk during those years.

Overall, the trend in PPL Corp's debt-to-equity ratio indicates fluctuations in the company's capital structure and funding sources over the years. It would be essential for stakeholders to closely monitor these changes to assess the company's financial health and risk profile accurately.