Pricing Log in Create free account
Friday 6 November 2026 Export PCG’s income statement to Excel — free account

Pacific Gas & Electric Co.

PCG Utilities Utilities Regulated Electric

Pacific Gas & Electric Co.’s revenue for fiscal 2025 (year ended December 2025) was $24.9 billion, up 2.11% from fiscal 2024.

Revenue
−0.99%
EPS
−8.11%
Free cash flow
−892.5%
Total debt
+9.60%

Quarter to September 2026, against a year earlier

13.23 0.17 −1.27%
Market cap
$29.1B
P/E
9.8×
Fwd P/E
11.2×
Dividend yield
1.51%
F-score
3/9
Altman Z
0.47
Beneish M
−2.68
Dividend safety
33/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2025

  • Electric
  • Natural Gas, US Regulated

Every year since 2016 →

Insider Decisions last twelve months

Bought, $m 0.09
Sold, $m 7.90
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — 1 — —
Sell — — 2 3 2 — 2 2 — 1 — —
Insider Ownership 0.54%

Capital & Financial Ratios $m

Size
Market Cap 29,140.00
Revenue ttm 25,775.00
Net income ttm 3,092.00
Free cash flow ttm (4,977.00)
Net debt Q 63,720.00
Valuation
P/E 9.80
Forward P/E 11.20
Price / sales 1.13
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.88
Financial health
Current ratio Q 1.03
Debt / equity Q 1.87
Interest coverage Q 1.51
Growth
Revenue growth Q −0.99% (below 0%: shrinking)
Operating income growth Q +3.31% (above 0%: growing)
EPS, this year +9.85%
EPS, next year A +9.36%
Revenue, next year A +2.38%
EPS, past 5 yrs —
EPS, next 5 yrs A +9.49%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.6×, against a ten-year median of 3.2×; over the ten years it ranged from 0.2× in 2019 to 4.2× in 2024.
P/E against its own 10 years 1.83%
10-year low 10-year high
P/S against its own 10 years 30.00%
10-year low 10-year high
P/B against its own 10 years 14.08%
10-year low 10-year high
EV/Sales against its own 10 years 64.39%
10-year low 10-year high

Dividends raised 4 years running

Yield
1.51%
Annual rate
0.20
Payout ratio
14.8%
  1. 0.00 ’18
  2. 0.00 ’19
  3. 0.00 ’20
  4. 0.00 ’21
  5. 0.00 ’22
  6. 0.01 ’23
  7. 0.06 ’24 +450
  8. 0.13 ’25 +127
  9. 0.15 ’26 +20
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 932 1,213 972 1,306
Receivables 3,542 4,030 3,986 3,838
Inventory 870 820 820 857
Other 9,039 11,153 10,052 8,746
14,383 17,216 15,830 14,747
2023 2024 2025 Q'26
Payables 4,829 6,665 7,401 6,273
ST’ Debt 5,347 3,669 3,496 3,679
Other 6,120 4,574 4,549 3,504
17,314 16,330 16,300 14,323

Compound Annual Growth %

10y 5y 3y
Sales 4.01% 6.19% 4.77%
Cash Flow 8.71% 0.00% 32.81%
Earnings 11.49% 0.00% 12.94%
Book Value 6.90% 9.06% 12.43%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.42 Actual 0.41

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.36 0.36 Met by 0.00
Q1 FY26 0.39 0.43 Beat by 0.04
Q2 FY26 0.37 0.40 Beat by 0.03
Q3 FY26 0.42 0.41 Miss by 0.01
Q4 FY26 0.40 — Reports 11 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.39 0.33 0.34 — —
’25 0.28 0.24 0.37 0.29 1.18
’24 0.34 0.24 0.27 0.30 1.15
’23 0.27 0.19 0.16 0.43 1.05
’22 0.22 0.17 0.21 0.24 0.84
’21 0.06 0.18 (0.55) 0.22 (0.05)
’20 0.57 (3.73) 0.04 0.09 (1.05)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 6,881 5,902 6,188 — —
’25 5,983 5,898 6,250 6,804 24,935
’24 5,861 5,986 5,941 6,631 24,419
’23 6,209 5,290 5,888 7,041 24,428
’22 5,798 5,118 5,394 5,370 21,680
’21 4,716 5,215 5,465 5,246 20,642
’20 4,306 4,533 4,882 4,748 18,469
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2,430 906 2,504 — —
’25 2,848 1,057 2,851 1,960 8,716
’24 2,261 711 3,131 1,932 8,035
’23 1,185 1,275 1,810 477 4,747
’22 1,661 (22) 1,073 1,009 3,721
’21 1,198 32 823 209 2,262
’20 1,605 1,686 (22,510) 89 (19,130)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (926) (2,061) (794) — —
’25 213 (2,008) (80) (1,196) (3,071)
’24 (377) (1,587) 526 (896) (2,334)
’23 (1,103) (1,117) (611) (2,136) (4,967)
’22 (649) (2,251) (1,799) (1,164) (5,863)
’21 (580) (1,810) (1,025) (2,012) (5,427)
’20 (36) (72) (24,586) (2,126) (26,820)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 19.1% a year for ten years.

Implied
19.1%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 17,666 17,135 16,759 17,129 18,469 20,642 21,680 24,428 24,419 24,935 25,775 +3.9% — — — —
Gross margin, % 69.55 70.50 73.15 77.65 78.89 78.78 77.60 82.82 85.86 85.10 84.78 +15.5 pt
EBT 1,462 2,171 (10,129) (11,042) (942) 748 476 699 2,312 2,423 2,811 +5.8%
EBT margin, % 8.28 12.67 (60.44) (64.46) (5.10) 3.62 2.20 2.86 9.47 9.72 10.91 +1.4 pt
Net income 1,407 1,660 (6,837) (7,642) (1,304) (88) 1,814 2,256 2,512 2,703 3,092 +7.5%
Per share, $
Per share, $ Revenue 35.40 33.47 32.42 32.44 14.69 10.40 10.91 11.84 11.41 11.35 11.71 (11.9%)
Earnings 2.79 3.21 (13.25) (14.50) (1.05) (0.05) 0.91 1.09 1.16 1.18 1.35 (9.1%)
Cash flow 8.84 11.67 9.19 9.12 (15.22) 1.14 1.87 2.30 3.75 3.97 3.54 (8.5%)
Capex (11.44) (11.02) (12.60) (11.96) (6.12) (3.87) (4.82) (4.71) (4.84) (5.36) (5.80) (8.1%)
Free cash flow (2.61) 0.66 (3.41) (2.84) (21.34) (2.73) (2.95) (2.41) (1.09) (1.40) (2.26) (6.7%)
Book value 36.46 38.03 24.96 10.20 16.91 10.69 11.61 12.25 14.20 14.93 15.82 (9.4%)
Shares, m 499 512 517 528 1,257 1,985 1,987 2,064 2,141 2,197 2,200 +17.9%
Valuation, ×
Valuation, × P/E 21.87 13.86 0.00 0.00 0.00 0.00 17.62 16.56 17.55 13.62 9.80 10.1
P/S 1.71 1.33 0.73 0.34 0.85 1.17 1.44 1.53 1.77 1.42 1.13 1.2
P/B 1.66 1.17 0.95 1.07 0.74 1.14 1.35 1.47 1.50 1.13 0.88 1.2
EV/Sales 2.74 2.42 3.04 1.76 3.03 3.33 3.79 3.82 4.06 3.82 3.60 3.2
EV/FCF (37.22) 123.39 (28.95) (20.13) (2.08) (12.66) (14.03) (18.76) (42.52) (31.01) (18.66) (8.4)
Cash, $m
Cash, $m Operating cash flow 4,409 5,977 4,752 4,816 (19,130) 2,262 3,721 4,747 8,035 8,716 7,800 +7.9%
Capex (5,709) (5,641) (6,514) (6,313) (7,690) (7,689) (9,584) (9,714) (10,369) (11,787) (12,777) +8.4%
Free cash flow (1,300) 336 (1,762) (1,497) (26,820) (5,427) (5,863) (4,967) (2,334) (3,071) (4,977) +10.0%
Balance, $m
Balance, $m Working capital (1,400) (848) (32,500) 2,534 (3,979) (6,350) (2,973) (2,931) 886 (470) 424 (11.4%)
Net debt 18,259 18,680 20,335 24,394 40,236 44,583 51,118 55,944 56,029 59,913 63,720 +14.1%
Shareholders’ equity 18,192 19,472 12,903 5,388 21,253 21,223 23,075 25,292 30,401 32,792 34,825 +6.8%
Returns, %
Returns, % ROA 2.11 2.41 (9.45) (9.44) (1.44) (0.10) 1.62 1.84 1.91 1.88 2.09 (0.2) pt
ROIC 3.57 4.76 (18.24) (21.18) 1.78 1.79 1.55 2.05 3.22 3.20 3.30 (0.4) pt
ROE 7.96 8.74 (42.32) (83.71) (9.89) (0.48) 8.13 9.27 9.15 8.64 9.33 +0.7 pt
People
People Employees 24,000 23,000 24,000 23,000 24,000 26,000 26,010 28,010 28,410 29,010 — +2.1%
Revenue/emp, $m 0.74 0.75 0.70 0.74 0.77 0.79 0.83 0.87 0.86 0.86 — +1.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Pacific Gas & Electric Co. is the primary operating subsidiary of PG&E Corporation, a California holding company. It is a public utility that sells and delivers electricity and natural gas in Northern and Central California. In plain terms, it operates the networks and facilities that move power and gas to homes, businesses and other users, and it also has generation, transmission, distribution, gas-storage and related utility operations.

The company’s electric system includes transmission assets, distribution facilities and a power-generation portfolio. Its electric transmission system spans 18,000 circuit miles, and its generation portfolio has 7.8 gigawatts of capacity, including hydroelectric assets and the Diablo Canyon Nuclear Power Plant. Its gas operations include distribution, transmission and storage facilities.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
Electric 18,318 73.46%
Natural Gas, US Regulated 6,617 26.54%
Gross margin 85.10%
Operating margin 19.05%
Pre-tax margin 9.72%

Revenue by segment since 2016

Pacific Gas & Electric Co. vs peers in Utilities Regulated Electric (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PEG Public Service Enterprise Group Incorporated $36.4B 20.7× 17.6× −6.39% (below 0%: shrinking) −39.11% (below 0%: shrinking) −139.44% (below 0%: shrinking) 62.75% 20.60% Compare
FTS Fortis $31.3B 23.2× 22.6× +4.39% (above 0%: growing) +28.66% (above 0%: growing) −10.20% (below 0%: shrinking) 47.83% 30.08% Compare
AEE Ameren Corporation $31.2B 19.7× 20.5× −5.81% (below 0%: shrinking) +11.76% (above 0%: growing) −51.22% (below 0%: shrinking) 73.90% 21.94% Compare
PCG Pacific Gas & Electric Co. $29.1B 9.8× 11.2× −0.99% (below 0%: shrinking) −8.11% (below 0%: shrinking) −892.50% (below 0%: shrinking) 83.63% 20.18%
DTE DTE Energy Company $28.1B 20.5× 18.8× +5.67% (above 0%: growing) +11.88% (above 0%: growing) +230.17% (above 0%: growing) 0.00% 16.18% Compare
FE FirstEnergy Corporation $27.3B 22.6× 17.1× +9.86% (above 0%: growing) +26.32% (above 0%: growing) −44.47% (below 0%: shrinking) 63.57% 20.52% Compare
PPL PPL Corporation $27.1B 21.2× 18.7× +4.25% (above 0%: growing) +24.00% (above 0%: growing) −112.80% (below 0%: shrinking) 71.67% 22.50% Compare
ES Eversource Energy $27.1B 18.6× 15.6× +2.29% (above 0%: growing) −85.42% (below 0%: shrinking) +398.93% (above 0%: growing) 67.64% 18.63% Compare
CNP CenterPoint Energy, Inc. $26.5B 22.8× 23.3× +10.21% (above 0%: growing) +11.29% (above 0%: growing) −27.29% (below 0%: shrinking) 91.42% 30.44% Compare
Median of peers $27.7B 20.9× 18.8× +4.32% +11.82% −35.88% 65.61% 21.27%

All 39 Utilities Regulated Electric stocks →

From the latest earnings call

Updated

  • CEO Patty Poppe said PG&E is reviewing its structure and financing to pursue investment-grade ratings, with options including ring-fencing, sales and separations.
  • CFO Carolyn Burke said the reduced 2027 capital plan leaves rate-base guidance unchanged because many deferred projects were not expected to enter service that year.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 96.02%
Held by the ten largest 50.08%
Holder Shares Stake Change
Vanguard 276.31m 12.55% +3.23m
BlackRock 203.14m 9.22% +7.62m
State Street 128.48m 5.83% +2.61m
Fidelity (FMR) 119.56m 5.43% +484.14k
MFS Investment Management 101.48m 4.61% −7.91m
AQR Capital Management 85.59m 3.89% −65.02k
Geode Capital Management 67.00m 3.04% +2.04m
Franklin Templeton 44.45m 2.02% −3.13m
Deutsche Bank (DWS) 40.20m 1.83% −3.70m
Ameriprise (Columbia Threadneedle) 36.79m 1.67% +1.73m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pacific Gas & Electric Co. (PCG) Latest News

5 Nov

Impact 3 · · Simply Wall St.

4 Nov

Impact 3 · · Trefis

3 Nov

Impact 3 · · PR Newswire
Impact 3 · · Trefis

30 Oct

Impact 3 · · Trefis

29 Oct

Impact 3 · · Insider Monkey

28 Oct

Impact 4 · · Trefis

27 Oct

Impact 4 · · Trefis
Impact 3 · · Insider Monkey

23 Oct

Impact 4 · · The Motley Fool
Impact 4 · · utilitydive.com
Impact 4 · · Simply Wall St.

22 Oct

Impact 4 · · Moby
Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · PR Newswire
Impact 4 · · PR Newswire earnings
Impact 3 · · GlobeNewswire
Impact 3 · · Zacks
Impact 3 · · Investing.com earnings
Impact 3 · · Zacks
Impact 3 · · Associated Press

21 Oct

Impact 4 · · PR Newswire
Impact 4 · · 24/7 Wall St.

20 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · Zacks

16 Oct

Impact 3 · · Zacks

15 Oct

Impact 3 · · Zacks

14 Oct

Impact 4 · · PR Newswire
Impact 3 · · PR Newswire

PCG metrics, ten years each

stockrow.com/PCG · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com