PPL (PPL) FY2020 results: revenue $5.5 billion, down 2.3% on the year
PPL Corp. (PPL) reported revenue of $5.5 billion for fiscal 2020, the year ended 31 December 2020, down 2.3% on the year before. Net income was $1.5 billion, down 15.9%, and diluted earnings per share $1.91. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$5.5 billion
-2.3% on the year
FY2013FY2020
Operating margin
29.0%
27.2% a year earlier
FY2013FY2020
Net income
$1.5 billion
-15.9% on the year
FY2013FY2020
Diluted EPS
$1.91
-19.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,474
5,602
7,785
-2.3%
Operating income
1,586
1,526
2,852
+3.9%
Operating margin
29.0%
27.2%
36.6%
Interest expense
634
621
963
+2.1%
Pre-tax income
954
919
2,285
+3.8%
Income tax
314
183
458
+71.6%
Effective tax rate
32.9%
19.9%
20.0%
Net income
1,469
1,746
1,827
-15.9%
Net margin
26.8%
31.2%
23.5%
Diluted EPS
$1.91
$2.37
$2.58
-19.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,746
2,427
2,821
+13.1%
Capital expenditure
2,270
2,243
3,238
+1.2%
Free cash flow
476
184
-417
+158.7%
Free cash flow margin
8.7%
3.3%
-5.4%
Cash from investing
-3,258
-3,080
-3,361
Cash from financing
386
836
690
-53.8%
Depreciation
1,022
949
1,094
+7.7%
Share-based compensation
29.0
36.0
26.0
-19.4%
Buybacks
0.0
0.0
n/a
Dividends paid
1,275
1,192
1,133
+7.0%
Dividend per share
$1.66
$1.65
$1.64
+0.6%
Diluted shares, weighted
769m
737m
709m
+4.4%
Shares outstanding at period end
769m
767m
720m
+0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
13,373
12,991
11,657
+2.9%
Short-term borrowings
1,168
1,151
1,430
+1.5%
Debt
14,689
21,893
20,599
-32.9%
Other liabilities
18,886
9,645
9,710
+95.8%
Total liabilities and equity
48,116
45,680
43,396
+5.3%
Fixed assets
24,500
36,482
34,458
-32.8%
Goodwill
716
3,198
3,162
-77.6%
Intangible assets
351
742
716
-52.7%
Cash and equivalents
442
815
621
-45.8%
Receivables
603
687
663
-12.2%
Inventory
302
332
303
-9.0%
Other assets
21,202
3,424
3,473
+519.2%
Total assets
48,116
45,680
43,396
+5.3%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.