PPL Corporation (PPL)

Debt-to-equity ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	15,952,000	16,499,000	15,756,000	15,753,000	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
Total stockholders’ equity	US$ in thousands	14,077,000	14,092,000	14,065,000	14,058,000	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
Debt-to-equity ratio		1.13	1.17	1.12	1.12	1.05	1.03	1.04	1.03	0.93	0.93	0.88	0.77	0.78	0.73	0.74	1.19	1.02	1.55	1.62	1.56

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $15,952,000K ÷ $14,077,000K
= 1.13

PPL Corporation's debt-to-equity ratio has fluctuated over the past few years. As of December 31, 2020, the ratio stood at 1.02, indicating that the company had nearly equal amounts of debt and equity. Subsequently, the ratio decreased to 0.74 by June 30, 2021, and continued to trend lower to 0.73 by September 30, 2021. This decline suggests a decreasing reliance on debt compared to equity for financing.

However, from March 31, 2022, onwards, the debt-to-equity ratio started to increase, reaching 1.17 as of September 30, 2024. This uptrend indicates that the company began to rely more on debt financing relative to equity during this period. Investors and stakeholders may want to closely monitor this trend to assess the company's financial leverage and risk profile.