PPL (PPL) reported capex of $1.06B in Q1 2026.

How has PPL's capex changed year-over-year?

PPL's capex increased by 33.4% year-over-year, from $793M to $1.06B.

What is the long-term trend for PPL's capex?

Over 4 years (2021 to 2025), PPL's capex has grown at a 19.5% compound annual growth rate (CAGR), from $1.97B to $4.03B.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

PPL PPL CapEx

Discontinued — last reported Q1 '26

CapEx at other companies

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$1.26B+24.9%

PNW

Pinnacle West CapitalPNW

$628.36M+0.9%

Essential UtilitiesWTRG

$137.75M+25.3%

Chesapeake Utilities CorporationCPK

$141.9M+24.7%

EVR

EvergyEVRG

$851.9M+43.7%

American Electric PowerAEP

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Other financials

Income statement

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Revenue$2.8B+10.8%

Operating income$745.0M+9.9%

Net income$452.0M+9.2%

EPS (diluted)$0.36+50.0%

Balance sheet

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Cash & equivalents$1.3B+268%

Total debt$19.2B+15.1%

Total equity$15.0B+5.1%

Total assets$46.3B+10.8%

Cash flow

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Operating cash flow$557.0M+8.6%

Free cash flow-$501.0M-78.9%

Valuation

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Market cap$27.85B+10.1%

Enterprise value$45.85B+10.3%

P/E22.9×-2.7×

P/S3×+0.1×

Profitability

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Operating margin23.6%+2.0pp

Net margin13.1%+1.6pp

FCF margin-17.4%—

Returns & leverage

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Return on equity8.3%+1.3pp

Debt / equity1.3×+0.1×

Current ratio1×+0.2×

Where this comes from

Reported directly by PPL in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: PPL’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is PPL's capex?: PPL (PPL) reported capex of $1.06B in Q1 2026.
How has PPL's capex changed year-over-year?: PPL's capex increased by 33.4% year-over-year, from $793M to $1.06B.
What is the long-term trend for PPL's capex?: Over 4 years (2021 to 2025), PPL's capex has grown at a 19.5% compound annual growth rate (CAGR), from $1.97B to $4.03B.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.