NYSE : PCG
PG&E Corporation — Financial statements
Utilities · Utilities - Regulated Electric · United States
Last price 13.18 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 29.03B
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Financial statements
PG&E Corporation (PCG) reported revenue of 25.77B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 25.77B | 24.93B | 24.42B | 24.43B | 21.68B | 20.64B |
| Operations & Maintenance | 11.39B | 11.35B | 11.81B | 11.92B | 9.81B | 10.20B |
| Depreciation & Amortization | 4.77B | 4.63B | 4.19B | 3.74B | 3.86B | 3.40B |
| Other Operating Expenses | 3.70B | 3.61B | 3.30B | 5.32B | 4.88B | 3.88B |
| Total Operating Expenses | 19.86B | 19.59B | 19.30B | 20.98B | 18.54B | 17.48B |
| Operating Income | 5.91B | 5.34B | 5.12B | 3.45B | 3.14B | 3.16B |
| Interest Expense | -3.27B | -3.14B | -3.09B | -2.86B | -1.93B | -1.61B |
| Interest Income | 464.00M | 520.00M | 604.00M | 606.00M | 162.00M | 20.00M |
| Net Interest Expense | -2.80B | -2.62B | -2.48B | -2.26B | -1.77B | -1.59B |
| Other Non-Operating Income (Expenses) | 40.00M | 38.00M | 112.00M | 126.00M | -193.00M | -49.00M |
| EBT Excluding Unusual Items | 3.15B | 2.77B | 2.75B | 1.32B | 1.18B | 1.52B |
| Other Unusual Items | -450.00M | -452.00M | -477.00M | -631.00M | -714.00M | -786.00M |
| Pretax Income | 2.70B | 2.31B | 2.27B | 685.00M | 462.00M | 734.00M |
| Income Tax Expense | -281.00M | -280.00M | -200.00M | -1.56B | -1.34B | 836.00M |
| Net Income | 2.98B | 2.59B | 2.48B | 2.24B | 1.80B | -102.00M |
| Net Income to Common | 2.98B | 2.59B | 2.48B | 2.24B | 1.80B | -102.00M |
| Shares Outstanding (Basic) | 2.20B | 2.20B | 2.14B | 2.06B | 1.99B | 1.99B |
| Shares Outstanding (Diluted) | 2.26B | 2.20B | 2.15B | 2.14B | 2.13B | 1.99B |
| EPS (Basic) | 1.36 | 1.18 | 1.16 | 1.09 | 0.91 | -0.05 |
| EPS (Diluted) | 1.35 | 1.18 | 1.15 | 1.05 | 0.84 | -0.05 |
| Free Cash Flow | -4.98B | -3.07B | -2.33B | -4.97B | -5.86B | -5.43B |
| Free Cash Flow Per Share | -2.20 | -1.40 | -1.09 | -2.32 | -2.75 | -2.73 |
| Dividend Per Share | 0.20 | 0.12 | 0.06 | 0.01 | ||
| Profit Margin | 11.57% | 10.40% | 10.14% | 9.18% | 8.30% | -0.49% |
| Free Cash Flow Margin | -19.31% | -12.32% | -9.56% | -20.33% | -27.04% | -26.29% |
| EBITDA | 10.68B | 9.98B | 9.31B | 7.19B | 6.99B | 6.57B |
| EBITDA Margin | 41.43% | 40.02% | 38.14% | 29.42% | 32.26% | 31.81% |
| D&A For EBITDA | 4.77B | 4.63B | 4.19B | 3.74B | 3.86B | 3.40B |
| EBIT | 5.91B | 5.34B | 5.12B | 3.45B | 3.14B | 3.16B |
| EBIT Margin | 22.94% | 21.44% | 20.98% | 14.12% | 14.47% | 15.33% |
| Effective Tax Rate | 113.90% | |||||
| Revenue as Reported | 25.77B | 24.93B | 24.42B | 24.43B | 21.68B | 20.64B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 902.00M | 713.00M | 940.00M | 635.00M | 734.00M | 291.00M |
| Accounts Receivable | 3.82B | 3.73B | 3.71B | 3.30B | 3.95B | 3.55B |
| Other Receivables | 1.63B | 1.72B | 1.81B | 1.49B | 1.62B | 1.78B |
| Inventory | 857.00M | 820.00M | 820.00M | 870.00M | 842.00M | 596.00M |
| Restricted Cash | 404.00M | 259.00M | 273.00M | 297.00M | 213.00M | 16.00M |
| Other Current Assets | 7.13B | 8.59B | 9.67B | 7.79B | 5.45B | 4.84B |
| Total Current Assets | 14.75B | 15.83B | 17.22B | 14.38B | 12.81B | 11.08B |
| Property, Plant & Equipment | 103.01B | 96.80B | 88.75B | 82.92B | 77.52B | 71.06B |
| Regulatory Assets | 16.53B | 15.98B | 15.56B | 17.19B | 16.44B | 9.21B |
| Other Long-Term Assets | 13.01B | 13.00B | 12.13B | 11.21B | 11.87B | 11.98B |
| Total Assets | 147.29B | 141.61B | 133.66B | 125.70B | 118.64B | 103.33B |
| Accounts Payable | 6.27B | 7.40B | 6.67B | 4.83B | 5.32B | 3.98B |
| Accrued Expenses | 773.00M | 764.00M | 760.00M | 679.00M | 626.00M | 481.00M |
| Short-Term Debt | 2.21B | 2.67B | 1.52B | 3.97B | 2.06B | 2.18B |
| Current Portion of Long-Term Debt | 1.47B | 821.00M | 2.15B | 1.38B | 2.27B | 4.48B |
| Current Portion of Leases | 94.00M | 90.00M | 662.00M | 339.00M | 231.00M | 468.00M |
| Other Current Liabilities | 3.50B | 4.55B | 4.57B | 6.12B | 5.28B | 5.84B |
| Total Current Liabilities | 14.32B | 16.30B | 16.33B | 17.31B | 15.79B | 17.43B |
| Long-Term Debt | 61.35B | 57.39B | 53.57B | 50.98B | 47.74B | 38.23B |
| Long-Term Leases | 358.00M | 362.00M | 443.00M | 1.07B | 1.24B | 810.00M |
| Pension & Post-Retirement Benefits | 1.56B | 1.59B | 1.90B | 1.51B | 1.14B | 2.09B |
| Long-Term Deferred Tax Liabilities | 5.02B | 4.13B | 3.08B | 1.98B | 2.73B | 3.18B |
| Other Long-Term Liabilities | 29.86B | 29.04B | 27.94B | 27.56B | 26.93B | 20.38B |
| Total Liabilities | 112.47B | 108.82B | 103.26B | 100.41B | 95.57B | 82.10B |
| Total Preferred Equity | 1.58B | 1.58B | 1.58B | |||
| Common Stock | 31.67B | 31.64B | 31.55B | 30.37B | 32.89B | 35.13B |
| Retained Earnings | 1.36B | -650.00M | -2.97B | -5.32B | -7.54B | -9.28B |
| Treasury Stock | -2.52B | -4.85B | ||||
| Comprehensive Income & Other | -35.00M | -25.00M | -19.00M | -13.00M | -5.00M | -20.00M |
| Total Common Equity | 32.99B | 30.96B | 28.57B | 25.04B | 22.82B | 20.97B |
| Minority Interest | 252.00M | 252.00M | 252.00M | 252.00M | 252.00M | 252.00M |
| Shareholders' Equity | 34.83B | 32.79B | 30.40B | 25.29B | 23.07B | 21.22B |
| Total Liabilities & Equity | 147.29B | 141.61B | 133.66B | 125.70B | 118.64B | 103.33B |
| Total Debt | 65.48B | 61.34B | 58.34B | 57.73B | 53.54B | 46.17B |
| Net Cash (Debt) | -64.58B | -60.62B | -57.40B | -57.10B | -52.80B | -45.88B |
| Net Cash Per Share | -28.53 | -27.53 | -26.74 | -26.71 | -24.77 | -23.11 |
| Filing Date Shares Outstanding | 2.20B | 2.20B | 2.19B | 2.13B | 1.99B | 1.99B |
| Total Common Shares Outstanding | 2.20B | 2.20B | 2.19B | 2.13B | 1.99B | 1.99B |
| Working Capital | 424.00M | -470.00M | 886.00M | -2.93B | -2.97B | -6.35B |
| Book Value Per Share | 14.98 | 14.09 | 13.02 | 11.74 | 11.48 | 10.56 |
| Tangible Book Value | 32.99B | 30.96B | 28.57B | 25.04B | 22.82B | 20.97B |
| Tangible Book Value Per Share | 14.98 | 14.09 | 13.02 | 11.74 | 11.48 | 10.56 |
| Machinery | 4.63B | 10.21B | 9.16B | 8.52B | 7.84B | |
| Construction In Progress | 5.12B | 2.00M | 4.46B | 4.45B | 4.14B | 3.48B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.98B | 2.59B | 2.48B | 2.24B | 1.80B | -102.00M |
| Depreciation & Amortization | 4.77B | 4.63B | 4.19B | 3.74B | 3.86B | 3.40B |
| Other Amortization | 450.00M | 352.00M | 383.00M | 568.00M | 477.00M | 517.00M |
| Restructuring Activities | -73.00M | |||||
| Change in Accounts Receivable | 250.00M | -61.00M | -1.06B | -369.00M | -757.00M | -589.00M |
| Change in Inventory | -94.00M | 45.00M | -28.00M | -246.00M | -32.00M | |
| Change in Accounts Payable | -81.00M | 176.00M | 30.00M | -90.00M | 627.00M | 117.00M |
| Change in Other Net Operating Assets | -1.91B | -254.00M | 372.00M | -904.00M | -2.09B | -3.04B |
| Other Operating Activities | 1.18B | 874.00M | 1.26B | -1.05B | -90.00M | 1.91B |
| Operating Cash Flow | 7.80B | 8.72B | 8.04B | 4.75B | 3.72B | 2.26B |
| Capital Expenditures | -12.78B | -11.79B | -10.37B | -9.71B | -9.58B | -7.69B |
| Sale of Property, Plant & Equipment | 749.00M | |||||
| Contributions to Nuclear Demissioning Trust | -2.60B | -1.99B | -2.00B | -2.25B | -3.21B | -1.70B |
| Other Investing Activities | 3.02B | 1.46B | 996.00M | 2.80B | 2.58B | 1.74B |
| Investing Cash Flow | -12.36B | -12.32B | -11.38B | -9.16B | -10.21B | -6.91B |
| Short-Term Debt Issued | 1.00B | 301.00M | ||||
| Long-Term Debt Issued | 10.33B | 13.77B | 20.48B | 23.23B | 15.25B | |
| Total Debt Issued | 17.38B | 10.33B | 14.77B | 20.48B | 23.23B | 15.55B |
| Short-Term Debt Repaid | -1.00B | -300.00M | -1.45B | |||
| Long-Term Debt Repaid | -5.56B | -13.70B | -15.96B | -15.77B | -10.06B | |
| Total Debt Repaid | -11.58B | -6.56B | -13.70B | -15.96B | -16.07B | -11.51B |
| Net Debt Issued (Repaid) | 5.80B | 3.76B | 1.07B | 4.51B | 7.16B | 4.04B |
| Issuance of Common Stock | 1.13B | |||||
| Common Dividends Paid | -384.00M | -220.00M | -86.00M | |||
| Preferred Dividends Paid | -97.00M | -97.00M | ||||
| Dividends Paid | -481.00M | -317.00M | -86.00M | |||
| Other Financing Activities | -227.00M | -87.00M | -75.00M | -111.00M | -23.00M | 288.00M |
| Financing Cash Flow | 5.10B | 3.36B | 3.62B | 4.40B | 7.13B | 4.32B |
| Miscellaneous Cash Flow Adjustments | -295.00M | -259.00M | -273.00M | -297.00M | -213.00M | -16.00M |
| Net Cash Flow | 239.00M | -500.00M | 8.00M | -312.00M | 427.00M | -336.00M |
| Free Cash Flow | -4.98B | -3.07B | -2.33B | -4.97B | -5.86B | -5.43B |
| Free Cash Flow Margin | -19.31% | -12.32% | -9.56% | -20.33% | -27.04% | -26.29% |
| Free Cash Flow Per Share | -2.20 | -1.40 | -1.09 | -2.32 | -2.75 | -2.73 |
| Levered Free Cash Flow | -6.49B | -3.41B | -6.58B | -6.22B | -4.74B | -3.59B |
| Unlevered Free Cash Flow | -4.45B | -1.45B | -4.65B | -4.43B | -3.53B | -2.58B |
| Cash Interest Paid | 2.81B | 2.67B | 2.42B | 2.29B | 1.61B | 1.40B |
| Cash Income Tax Paid | 165.00M | -99.00M | ||||
| Change in Working Capital | -1.84B | -139.00M | -614.00M | -1.39B | -2.46B | -3.55B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 29.03B | 35.32B | 44.12B | 38.47B | 32.32B | 24.10B |
| Enterprise Value | 93.60B | 96.54B | 103.50B | 94.09B | 89.69B | 68.22B |
| PE Ratio | 9.78 | 13.62 | 17.82 | 17.16 | 17.96 | |
| PS Ratio | 1.13 | 1.42 | 1.81 | 1.57 | 1.49 | 1.17 |
| PB Ratio | 0.88 | 1.08 | 1.45 | 1.52 | 1.40 | 1.14 |
| P/OCF Ratio | 3.72 | 4.05 | 5.49 | 8.10 | 8.69 | 10.65 |
| EV/Sales Ratio | 3.63 | 3.87 | 4.24 | 3.85 | 4.14 | 3.31 |
| EV/EBITDA Ratio | 8.77 | 9.67 | 11.11 | 13.09 | 12.82 | 10.39 |
| EV/EBIT Ratio | 15.83 | 18.06 | 20.20 | 27.29 | 28.58 | 21.56 |
| Debt / Equity Ratio | 1.88 | 1.87 | 1.92 | 2.28 | 2.32 | 2.17 |
| Debt / EBITDA Ratio | 6.11 | 6.11 | 6.19 | 7.92 | 7.59 | 6.98 |
| Net Debt / Equity Ratio | 1.85 | 1.85 | 1.89 | 2.26 | 2.29 | 2.16 |
| Net Debt / EBITDA Ratio | 6.05 | 6.08 | 6.16 | 7.95 | 7.55 | 6.99 |
| Net Debt / FCF Ratio | -12.97 | -19.74 | -24.59 | -11.49 | -9.01 | -8.45 |
| Quick Ratio | 0.44 | 0.38 | 0.40 | 0.31 | 0.40 | 0.32 |
| Current Ratio | 1.03 | 0.97 | 1.05 | 0.83 | 0.81 | 0.64 |
| Asset Turnover | 0.18 | 0.18 | 0.19 | 0.20 | 0.20 | 0.20 |
| Return on Equity (ROE) | 8.89% | 8.21% | 8.89% | 9.27% | 8.13% | -0.48% |
| Return on Assets (ROA) | 2.59% | 2.43% | 2.47% | 1.76% | 1.77% | 1.97% |
| Return on Capital Employed (ROCE) | 4.40% | 4.30% | 4.40% | 3.20% | 3.10% | 3.70% |
| Earnings Yield | 10.23% | 7.34% | 5.61% | 5.83% | 5.57% | -0.42% |
| FCF Yield | -17.15% | -8.70% | -5.29% | -12.91% | -18.14% | -22.52% |
| Dividend Yield | 1.52% | 0.78% | 0.27% | 0.06% | ||
| Payout Ratio | 14.84% | 12.22% | 3.48% | |||
| Buyback Yield / Dilution | -3.26% | -2.56% | -0.42% | -0.28% | -7.41% | -57.92% |
| Total Shareholder Return | -1.75% | -1.78% | -0.15% | -0.23% | -7.41% | -57.92% |