PPL
PPL returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 5.46% | 5.65% | 9.6% | — | 2.86% | 1.1 pp |
| FY 2026 Q1 | Mar 31, 2026 | 5.41% | 5.49% | — | — | 2.77% | 1 pp |
| FY 2025 Q4 | Dec 31, 2025 | 5.36% | 5.43% | 12.53% | — | 2.74% | 1 pp |
| FY 2025 Q3 | Sep 30, 2025 | 5.23% | 5.24% | 9.95% | — | 2.59% | 0.8 pp |
| FY 2025 Q2 | Jun 30, 2025 | — | — | — | — | — | — |
| FY 2025 Q1 | Mar 31, 2025 | — | — | — | — | — | — |
| FY 2024 Q4 | Dec 31, 2024 | 4.63% | 4.73% | 5.77% | — | 2.21% | 0.2 pp |
| FY 2024 Q3 | Sep 30, 2024 | 4.8% | 4.74% | 12.03% | — | 2.08% | 0.4 pp |
| FY 2023 Q4 | Dec 31, 2023 | 4.58% | 4.66% | 16.47% | 5.31% | 1.92% | 0.2 pp |
| FY 2023 Q3 | Sep 30, 2023 | 4.38% | 4.51% | — | — | 2.15% | -0 pp |
| FY 2022 Q4 | Dec 31, 2022 | — | — | — | — | — | — |
| FY 2022 Q3 | Sep 30, 2022 | — | — | — | — | — | — |
| FY 2022 Q2 | Jun 30, 2022 | 3.24% | 3.08% | -2.59% | — | 1.48% | -1.2 pp |
| FY 2022 Q1 | Mar 31, 2022 | 0.87% | 4.63% | — | — | 1.55% | -3.5 pp |
| FY 2021 Q2 | Sep 30, 2021 | 3.32% | 6.85% | — | -7.55% | -2.59% | -1.1 pp |
| FY 2021 Q1 | Mar 31, 2021 | 5.52% | 6.56% | — | -7.46% | -1.97% | 1.1 pp |
| FY 2020 Q4 | Dec 31, 2020 | 5.75% | 6.76% | -9.49% | 11.14% | 3.13% | 1.3 pp |
| FY 2020 Q3 | Sep 30, 2020 | 5.91% | 6.71% | -5.64% | 12.06% | 3.34% | 1.5 pp |
| FY 2020 Q2 | Jun 30, 2020 | 6.53% | 6.95% | 2.97% | 13.88% | 3.83% | 2.1 pp |
| FY 2020 Q1 | Mar 31, 2020 | 6.65% | 7.06% | 8.05% | 14.43% | 4.04% | 2.3 pp |
| FY 2019 Q4 | Dec 31, 2019 | 6.74% | 7.13% | 0.96% | 14.17% | 3.92% | 2.3 pp |
| FY 2019 Q3 | Sep 30, 2019 | 6.78% | 7.06% | 24.3% | 15.17% | 4.1% | 2.4 pp |
| FY 2019 Q2 | Jun 30, 2019 | 6.7% | 7.04% | 19.39% | 15.22% | 4.06% | 2.3 pp |
| FY 2019 Q1 | Mar 31, 2019 | 6.64% | 7.07% | 17.26% | 15.77% | 4.23% | 2.2 pp |
| FY 2018 Q4 | Dec 31, 2018 | 7.06% | 7.48% | 31.07% | 16.3% | 4.31% | 2.7 pp |
| FY 2018 Q3 | Sep 30, 2018 | 6.05% | 7.94% | -18.93% | 13.26% | 3.56% | 1.7 pp |
| FY 2018 Q2 | Jun 30, 2018 | 6.09% | 8.32% | -18.65% | 12.89% | 3.38% | 1.7 pp |
| FY 2018 Q1 | Mar 31, 2018 | 6.06% | 8.56% | -14.27% | 11.06% | 2.89% | 1.7 pp |
| FY 2017 Q4 | Dec 31, 2017 | 6% | 8.53% | -16.89% | 10.9% | 2.83% | 1.6 pp |
| FY 2017 Q3 | Sep 30, 2017 | 7.71% | 8.39% | 0.71% | 14.66% | 3.85% | 3.3 pp |
| FY 2017 Q2 | Jun 30, 2017 | 7.66% | 8.36% | 19.05% | 15.69% | 4.11% | 3.3 pp |
| FY 2017 Q1 | Mar 31, 2017 | 7.78% | 8.7% | 11.72% | 18.36% | 4.69% | 3.4 pp |
| FY 2016 Q4 | Dec 31, 2016 | 7.86% | 8.72% | — | 19.13% | 4.9% | 3.5 pp |
| FY 2016 Q3 | Sep 30, 2016 | 7.9% | 8.5% | — | — | 4.75% | 3.5 pp |
| FY 2016 Q2 | Jun 30, 2016 | 7.48% | 8.16% | -18.2% | — | 4.52% | 3.1 pp |
| FY 2016 Q1 | Mar 31, 2016 | 6.82% | 7.24% | — | — | 1.18% | 2.4 pp |
| FY 2015 Q4 | Dec 31, 2015 | 6.99% | 7.37% | — | 5.78% | 1.55% | 2.6 pp |
| FY 2015 Q3 | Sep 30, 2015 | 7.55% | 8.7% | — | — | 2.24% | 3.2 pp |
| FY 2015 Q2 | Jun 30, 2015 | 7.85% | 9.27% | — | — | 2.5% | 3.4 pp |
| FY 2015 Q1 | Mar 31, 2015 | 7.12% | 8.73% | 48.4% | 15.46% | 4.27% | 2.7 pp |
| FY 2014 Q4 | Dec 31, 2014 | 6.57% | 7.91% | 22.79% | 13.31% | 3.65% | 2.2 pp |
| FY 2014 Q3 | Sep 30, 2014 | 5.1% | 5.63% | -20.72% | 7.17% | 2.03% | 0.7 pp |
| FY 2014 Q2 | Jun 30, 2014 | 5.85% | 5.71% | -10.38% | 6.95% | 1.86% | 1.5 pp |
| FY 2014 Q1 | Mar 31, 2014 | 6.47% | 5.96% | -0.61% | 8.89% | 2.26% | 2.1 pp |
| FY 2013 Q4 | Dec 31, 2013 | 6.44% | 5.89% | -8.56% | 9.85% | 2.51% | 2 pp |
| FY 2013 Q3 | Sep 30, 2013 | 7.68% | 7.99% | 1.44% | 13.47% | 3.6% | 3.3 pp |
| FY 2013 Q2 | Jun 30, 2013 | 7.45% | 7.69% | -5.87% | 13.99% | 3.51% | 3.1 pp |
| FY 2013 Q1 | Mar 31, 2013 | — | 7.25% | — | 12.83% | 3.2% | — |
| FY 2012 Q4 | Dec 31, 2012 | 7.89% | 8.25% | 13.31% | 14.32% | 3.54% | 3.5 pp |
| FY 2012 Q3 | Sep 30, 2012 | 8.03% | 8.62% | — | 14.69% | 3.85% | 3.6 pp |
| FY 2012 Q2 | Jun 30, 2012 | — | — | — | — | — | — |
| FY 2012 Q1 | Mar 31, 2012 | — | — | — | — | — | — |
| FY 2011 Q4 | Dec 31, 2011 | — | — | — | — | — | — |
| FY 2011 Q3 | Sep 30, 2011 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 4.4%, rounded from the Utility · General benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · PPL, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.