PPL (BSP:P1PL34) Cyclically Adjusted PB Ratio: 1.77 (As of Jul. 24, 2026) — 13% Above Median

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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
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BSP:P1PL34 PPL Corp BSP:P1PL34
82 GF Score
Price R$186.30
GF Value R$187.02
! 10 Warning Signs
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What is PPL Cyclically Adjusted PB Ratio?

PPL BSP:P1PL34 82 Cyclically Adjusted PB Ratio is 1.77 as of Jul. 24, 2026, which is 13% above its 10-year median of 1.57. GuruFocus rates BSP:P1PL34 with a GF Score™ of 82/100 and a GF Value™ of R$187.02. The stock has 10 warning signs investors should review. Among 441 Utilities - Regulated companies, PPL ranks worse than 57.6% on this metric.

As of today (2026-07-24), PPL's current share price is R$186.30. PPL's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was R$105.31. PPL's Cyclically Adjusted PB Ratio for today is 1.77.

The historical rank and industry rank for PPL's Cyclically Adjusted PB Ratio or its related term are showing as below:

BSP:P1PL34' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.05   Med: 1.57   Max: 2.23
Current: 1.73

During the past years, PPL's highest Cyclically Adjusted PB Ratio was 2.23. The lowest was 1.05. And the median was 1.57.

BSP:P1PL34's Cyclically Adjusted PB Ratio is ranked worse than
57.6% of 441 companies
in the Utilities - Regulated industry
Industry Median: 1.55 vs BSP:P1PL34: 1.73

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

PPL's adjusted book value per share data for the three months ended in Mar. 2026 was R$104.421. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is R$105.31 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


PPL  (BSP:P1PL34) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


PPL Cyclically Adjusted PB Ratio Related Terms


PPL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for PPL's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

PPL Cyclically Adjusted PB Ratio Chart

PPL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.53 1.43 1.32 1.60 1.71

PPL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.78 1.65 1.80 1.71 1.83

BSP:P1PL34 vs FE, ES, EIX: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Electric subindustry, PPL's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


PPL Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, PPL's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where PPL's Cyclically Adjusted PB Ratio falls into.


BSP:P1PL34
82GF Score
PPL Corp BSP:P1PL34
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PPL Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

PPL's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=186.30/105.31
=1.77

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

PPL's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, PPL's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=104.421/330.2130*330.2130
=104.421

Current CPI (Mar. 2026) = 330.2130.

PPL Quarterly Data

Book Value per Share CPI Adj_Book
201606 52.168 241.018 71.474
201609 47.773 241.428 65.341
201612 48.845 241.432 66.807
201703 46.329 243.801 62.750
201706 50.430 244.955 67.982
201709 48.672 246.819 65.117
201712 51.136 246.524 68.495
201803 52.548 249.554 69.532
201806 60.627 251.989 79.447
201809 67.268 252.439 87.993
201812 62.845 251.233 82.602
201903 64.806 254.202 84.184
201906 64.007 256.143 82.516
201909 67.880 256.759 87.299
201912 69.499 256.974 89.307
202003 84.213 258.115 107.736
202006 88.032 257.797 112.760
202009 96.130 260.280 121.959
202012 89.478 260.474 113.435
202103 84.619 264.877 105.492
202106 97.700 271.696 118.742
202109 101.231 274.310 121.861
202112 105.565 278.802 125.031
202203 93.777 287.504 107.708
202206 95.104 296.311 105.985
202209 98.853 296.808 109.979
202212 99.105 296.797 110.263
202303 99.166 301.836 108.489
202306 91.920 305.109 99.483
202309 93.880 307.789 100.720
202312 92.614 306.746 99.699
202403 94.893 312.332 100.326
202406 102.683 314.175 107.925
202409 105.775 315.301 110.778
202412 116.368 315.605 121.754
202503 111.389 319.799 115.016
202506 107.164 322.561 109.706
202509 104.520 324.800 106.262
202512 108.098 324.054 110.153
202603 104.421 330.213 104.421

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 1.77 mean?
PPL (BSP:P1PL34) has a Cyclically Adjusted PB Ratio of 1.77 as of Jul. 24, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on PPL and its competitors. This is 13% above median its historical median of 1.57. Over the past decade, PPL's Cyclically Adjusted PB Ratio has ranged from 1.05 to 2.23. According to the industry distribution chart, PPL ranks #254 out of 441 companies in the Utilities - Regulated industry, placing it in the top 57.6%.
Is PPL's Cyclically Adjusted PB Ratio too high?
PPL's current Cyclically Adjusted PB Ratio of 1.77 is 13% above median its 10-year median of 1.57. Over the past 10 years, this metric has ranged from a low of 1.05 to a high of 2.23. The Utilities - Regulated industry median Cyclically Adjusted PB Ratio is 1.55. PPL's value of 1.77 is 14.2% above this industry median. Based on the distribution chart, PPL ranks #254 out of 441 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, PPL has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does PPL's Cyclically Adjusted PB Ratio compare to FE and ES?
According to the Utilities - Regulated industry distribution chart, PPL ranks #254 out of 441 companies for Cyclically Adjusted PB Ratio. This places PPL in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.55. PPL's value of 1.77 is 14.2% above this benchmark. Historically, PPL's own Cyclically Adjusted PB Ratio has ranged from 1.05 to 2.23 over the past decade. While the company's 10-year median is 1.57 vs. the industry median of 1.55, PPL has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for an Utilities - Regulated company?
The median Cyclically Adjusted PB Ratio among Utilities - Regulated companies is 1.55, based on 441 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. PPL's current Cyclically Adjusted PB Ratio of 1.77 is 14.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on PPL and its competitors. For the Utilities - Regulated industry, the median Cyclically Adjusted PB Ratio is 1.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PPL's current Cyclically Adjusted PB Ratio is 1.77, which is 13% above median its own 10-year median of 1.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PPL stock overvalued right now?
PPL (BSP:P1PL34) has a current Cyclically Adjusted PB Ratio of 1.77. The stock's GF Value™ is R$187.02, compared to a current price of R$186.30 — trading 0.4% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.77, which is 13% above median its 10-year median of 1.57 and 14.2% above the Utilities - Regulated industry median of 1.55. PPL's overall GF Score™ is 82/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For PPL (BSP:P1PL34), the current Cyclically Adjusted PB Ratio is 1.77 as of Jul. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is PPL (BSP:P1PL34) Overvalued in 2026?

Based on GuruFocus' analysis, PPL stock appears to be undervalued. The current stock price of R$186.30 is trading 0.4% below its estimated GF Value™ of R$187.02.

Key valuation signals for BSP:P1PL34:

  • Cyclically Adjusted PB Ratio: 1.77 (13% above median its 10-year median of 1.57)
  • GF Value™: R$187.02 vs. price of R$186.30 (0.4% below fair value)
  • GF Score™: 82/100 with 10 warning signs
  • Industry Position: 14.2% above the Utilities - Regulated median (#254 of 441)

No single metric tells the full story. See the BSP:P1PL34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


PPL Business Description

Address 645 Hamilton Street, Allentown, PA, USA, 18101
PPL is a holding company of regulated utilities in Pennsylvania, Kentucky, and Rhode Island. The Pennsylvania regulated delivery and transmission segment distributes electricity to customers in central and eastern Pennsylvania. In Kentucky, LG&E and KU are involved in regulated electricity generation, transmission, and distribution. LG&E also provides regulated natural gas distribution. Rhode Island Energy operates electric and gas utilities in the state.
82GF Score

Get the complete analysis for BSP:P1PL34

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$186.30
Price
R$187.02
GF Value