PPL Corporation (PPL)

Solvency ratios

	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
Debt-to-assets ratio	0.37	0.37	0.38	0.38	0.34	0.35	0.33	0.31	0.32	0.31	0.30	0.29	0.28	0.44	0.45	0.45	0.45	0.48	0.47	0.47
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
Debt-to-equity ratio	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	1.60	1.81	1.75	1.73
Financial leverage ratio	2.82	2.76	2.74	2.73	2.72	2.69	2.67	2.46	2.42	2.34	2.46	4.14	3.60	3.50	3.57	3.50	3.52	3.74	3.69	3.66

The solvency ratios of PPL Corp provide insights into the company's financial leverage and ability to meet its long-term obligations. Over the past eight quarters, the debt-to-assets ratio has remained relatively stable, ranging between 0.36 and 0.40, indicating that the company relies on debt to finance a moderate portion of its assets.

Similarly, the debt-to-capital ratio has shown consistency, fluctuating between 0.47 and 0.53, suggesting that PPL Corp maintains a balance between debt and equity in its capital structure. The debt-to-equity ratio has gradually increased from 0.87 in Q1 2022 to 1.12 in Q4 2023, reflecting a higher proportion of debt compared to equity over time.

The financial leverage ratio, which measures the company's overall debt levels relative to its equity, has shown an upward trend from 2.46 in Q1 2022 to 2.82 in Q4 2023. This indicates an increasing reliance on debt financing to support the company's operations and investments.

Overall, while PPL Corp's solvency ratios indicate a moderate level of leverage, investors and stakeholders should monitor the trend in these ratios to assess the company's ability to manage its debt levels effectively and sustain its financial health in the long run.

Coverage ratios

	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
Interest coverage	2.39	2.61	2.57	2.71	2.87	2.91	2.82	2.32	-0.06	0.15	0.33	0.03	3.81	5.70	5.01	4.66	4.11	3.24	3.23	3.39

The interest coverage ratios for PPL Corp over the past eight quarters have shown some fluctuation but generally indicate the company's ability to meet its interest obligations from its operating income. The ratios ranged from a low of 1.70 in Q1 2022 to a high of 2.95 in Q3 2022. It is worth noting that the interest coverage ratio dropped below 2.0 in Q1 2022, suggesting a potentially tighter financial position during that period. Overall, the recent quarters show relatively stable interest coverage ratios ranging from 2.48 to 2.70, indicating that PPL Corp has been able to comfortably cover its interest expenses with its earnings.