PG&E Corporation (PCG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.36	$0.4	+11.1%	—	$5.9B	—
Q1 26	$0.4	$0.43	+7.5%	—	$6.9B	—
Q4 25	$0.43	$0.5	+16.3%	—	—	—
Q3 25	$0.32	$0.31	-3.1%	—	—	—
Q2 25	$0.34	$0.33	-2.9%	—	—	—
Q1 25	$0.31	$0.31	0.0%	—	—	—
Q4 24	$0.3	$0.31	+3.3%	—	—	—
Q3 24	$0.34	$0.37	+8.8%	—	—	—
Q2 24	$0.45	$0.47	+4.4%	—	—	—
Q1 24	$0.25	$0.24	-4.0%	—	—	—
Q4 23	$0.26	$0.23	-11.5%	—	—	—
Q3 23	$0.29	$0.29	0.0%	—	—	—
Q2 23	$0.28	$0.26	-7.1%	—	—	—
Q1 23	$0.25	$0.29	+16.0%	—	—	—
Q4 22	$0.28	$0.25	-10.7%	—	—	—
Q3 22	$0.25	$0.3	+20.0%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.18	—	—	$24.9B	—
FY24	—	$1.16	—	—	$24.4B	—
FY23	—	$1.09	—	—	$24.4B	—
FY22	—	$0.91	—	—	$21.7B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$17.7B	$17.1B	$16.8B	$17.1B	$18.5B	$20.6B	$21.7B	$24.4B	$24.4B	$24.9B
YoY change	+4.95%	-3.01%	-2.19%	+2.21%	+7.82%	+11.8%	+5.03%	+12.7%	-0.04%	+2.11%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	17.7B	17.1B	16.8B	17.1B	18.5B	20.6B	21.7B	24.4B	24.4B	24.9B
Cost of revenue	12.7B	11.4B	11.7B	12.6B	12.6B	14.6B	14.7B	16.1B	15.3B	15.1B
Gross profit	5B	5.8B	5.1B	4.6B	5.9B	6.1B	7B	8.3B	9.2B	9.9B
Gross margin	28.1%	33.6%	30.5%	26.7%	31.9%	29.4%	32.4%	34%	37.5%	39.6%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—
Operating expenses	—	—	—	—	413M	517M	477M	567M	416M	387M
Operating income	2.2B	2.9B	2.1B	1.3B	2B	2.1B	2.7B	4B	4.6B	4.8B
Operating margin	12.5%	17%	12.4%	7.83%	10.9%	10.4%	12.4%	16.4%	18.6%	19.4%
Non-operating income, net	63M	123M	-11.3B	-11.5B	-1.7B	188M	-451M	-1.1B	206M	82M
Pretax income	1.5B	2.2B	-10.1B	-11B	-942M	748M	476M	699M	2.3B	2.4B
Income tax	55M	511M	-3.3B	-3.4B	362M	836M	-1.3B	-1.6B	-200M	-280M
Net income	1.4B	1.7B	-6.8B	-7.6B	-1.3B	-88M	1.8B	2.3B	2.5B	2.7B
Net margin	7.96%	9.69%	-40.8%	-44.6%	-7.06%	-0.43%	8.37%	9.24%	10.3%	10.8%
EBITDA	5.2B	5.9B	5.6B	4.9B	6B	6B	7.1B	8.6B	9.6B	10.2B
EPS	2.79	3.21	-13.3	-14.5	-1.05	-0.05	0.91	1.09	1.16	1.18
Diluted EPS	2.78	3.21	-13.3	-14.5	-1.05	-0.05	0.84	1.05	1.15	1.18

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.9B	7B	5.9B	6B	5.9B	6.6B	6B	5.9B	6.3B	6.8B	6.9B	5.9B
Cost of revenue	4.1B	4.5B	3.5B	3.7B	3.6B	4.4B	3.5B	3.6B	3.8B	4.2B	4.1B	3.5B
Gross profit	1.7B	2.6B	2.4B	2.3B	2.3B	2.2B	2.4B	2.3B	2.5B	2.6B	2.7B	2.5B
Gross margin	29.6%	36.4%	40.5%	37.8%	39.3%	33%	40.8%	39.5%	39.4%	38.8%	39.8%	41.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	219M	114M	78M	78M	172M	88M	76M	109M	121M	81M	102M	126M
Operating income	715M	1.6B	1.3B	1.1B	1.1B	1B	1.3B	1.1B	1.2B	1.2B	1.5B	1.3B
Operating margin	12.1%	22.6%	21.8%	18.9%	18.6%	15.7%	21.2%	19.4%	19.4%	18%	21.4%	21.4%
Non-operating income, net	-252M	-399M	77M	85M	9M	35M	21M	34M	96M	-69M	116M	97M
Pretax income	-65M	465M	774M	606M	473M	459M	673M	569M	630M	551M	905M	674M
Income tax	-416M	-458M	39M	82M	-106M	-215M	39M	20M	-220M	-119M	20M	-87M
Net income	351M	923M	735M	524M	579M	674M	634M	549M	850M	670M	885M	761M
Net margin	5.96%	13.1%	12.5%	8.75%	9.75%	10.2%	10.6%	9.31%	13.6%	9.85%	12.9%	12.9%
EBITDA	1.7B	2.7B	2.5B	2.5B	2.4B	2.3B	2.6B	2.5B	2.5B	2.6B	2.9B	2.5B
EPS	0.16	—	0.34	0.24	0.27	—	0.28	0.24	0.37	—	0.39	0.33
Diluted EPS	0.16	—	0.34	0.24	0.27	—	0.28	0.24	0.37	—	0.39	0.33

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	30.3B	23B	12.3B	5.7B	—	—	32.3B	37.2B	43.2B	35.3B	35.9B
Enterprise value	48.6B	41.6B	32.6B	8B	—	—	85.1B	94.3B	100.6B	95.9B	92.7B
Shares outstanding	499M	512M	517M	528M	1.3B	2B	2B	2.1B	2.1B	2.2B	2.2B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	21.6	13.8	—	—	—	—	17.8	16.5	17.2	13.1	8.88
P/S	1.72	1.34	0.73	0.34	—	—	1.49	1.52	1.77	1.42	1.43
P/B	1.67	1.18	0.95	1.07	—	—	1.4	1.47	1.42	1.08	0.84
EV/EBITDA	9.4	7.04	5.82	1.62	—	—	12	10.9	10.4	9.42	8.87
EV/Sales	2.75	2.43	1.95	0.46	—	—	3.93	3.86	4.12	3.85	3.59
Earnings yield	4.64%	7.23%	—	—	—	—	5.61%	6.06%	5.81%	7.66%	11.3%
FCF yield	-4.29%	1.46%	-14.7%	-26.2%	—	—	-18.1%	-13.3%	-5.4%	-8.7%	-17.1%
PEG	—	—	—	—	—	—	—	—	—	—	0.24

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	28.1%	33.6%	30.5%	26.7%	31.9%	29.4%	32.4%	34%	37.5%	39.6%	41.5%
Operating margin	12.5%	17%	12.4%	7.83%	10.9%	10.4%	12.4%	16.4%	18.6%	19.4%	24.8%
Net margin	7.96%	9.69%	-40.8%	-44.6%	-7.06%	-0.43%	8.37%	9.24%	10.3%	10.8%	11.8%
ROE	7.73%	8.53%	-53%	-141.8%	-6.14%	-0.41%	7.86%	8.92%	8.26%	8.24%	9.32%
ROA	2.05%	2.44%	-8.88%	-8.97%	-1.33%	-0.09%	1.53%	1.79%	1.88%	1.91%	2.57%
ROIC	5.82%	5.82%	6.23%	17.6%	3.17%	0%	3.53%	4.86%	5.19%	5.19%	5.28%
Return on tangible assets	2.05%	2.44%	-8.88%	-8.97%	-1.33%	-0.09%	1.53%	1.79%	1.88%	1.91%	2.18%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.81	0.88	0.22	1.33	0.71	0.64	0.81	0.83	1.05	0.97	1.22
Quick ratio	0.75	0.81	0.21	1.25	0.66	0.6	0.76	0.78	1	0.92	1.15
Debt / equity	1.01	0.98	1.7	0.7	2	2.18	2.32	2.28	1.92	1.87	1.89
Debt / assets	0.27	0.28	0.29	0.04	0.44	0.45	0.45	0.46	0.44	0.43	0.45
Net debt / EBITDA	3.53	3.16	3.63	0.45	7.02	7.62	7.44	6.63	5.95	5.95	6.04
Interest coverage	2.76	3.44	-9.9	-10.8	0.25	1.47	1.25	1.25	1.76	1.8	1.89
Effective tax rate	3.76%	23.5%	0%	0%	0%	100%	0%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	35.4	33.5	32.4	32.4	14.7	10.4	10.9	11.8	11.4	11.3	11.7
EPS (basic)	2.79	3.21	-13.3	-14.5	-1.05	-0.05	0.91	1.09	1.16	1.18	1.18
EPS (diluted)	2.78	3.21	-13.3	-14.5	-1.05	-0.05	0.84	1.05	1.15	1.18	1.39
Book value per share	36.5	38	25	10.2	16.9	10.7	11.6	12.3	14.2	14.9	14.7
FCF per share	-2.61	0.66	-3.5	-2.85	-21.3	-2.73	-2.95	-2.41	-1.09	-1.4	-1.87
Cash per share	0.35	0.88	3.23	2.97	0.39	0.15	0.37	0.31	0.44	0.32	0.44
Capex per share	—	—	—	0	0	0.38	—	—	—	5.37	5.43

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	0%	0%	3.63%	—	—	—	47.3%	48%
Capex / operating cash flow	—	—	—	0%	0%	35.5%	—	—	—	135.2%	152.3%
Payout ratio	65.5%	61.5%	0%	0%	—	—	—	—	3.42%	11.7%	12.6%
Dividend yield	3.04%	4.45%	0%	0%	—	—	—	—	0.2%	0.9%	1.67%

Yield

1.67%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.05

ex-dividend Jun 30, 2026

Payout ratio

13%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 30, 2026	$0.05
Mar 31, 2026	$0.05
Dec 31, 2025	$0.05

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.9B	$7B	$5.9B	$6B	$5.9B	$6.6B	$6B	$5.9B	$6.3B	$6.8B	$6.9B	$5.9B
YoY change	+9.16%	+31.1%	-5.6%	+13.2%	+0.9%	-5.82%	+2.08%	-1.47%	+5.2%	+2.61%	+15%	+0.07%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	177M	449M	1.7B	1.6B	484M	291M	734M	635M	940M	713M
Receivables	1.3B	1.2B	1.1B	1.3B	1.9B	2.3B	2.6B	2B	2.2B	2.3B
Inventory	463M	481M	554M	647M	628M	596M	842M	870M	820M	820M
Total current assets	6.2B	6.3B	9.2B	10.2B	9.6B	11.1B	12.8B	14.4B	17.2B	15.8B
Property, plant & equipment	-19.8B	-21B	-22.1B	-21.5B	-23.2B	-24.4B	-25.5B	-27.3B	-29.5B	96.8B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	68.6B	68B	77B	85.2B	97.9B	103.3B	118.6B	125.7B	133.7B	141.6B
Accounts payable	1.5B	1.6B	2B	2B	2.4B	2.9B	2.9B	2.3B	2.7B	3.4B
Short-term debt	2.2B	1.4B	22B	2.1B	4.1B	7.1B	4.6B	5.7B	4.3B	3.6B
Total current liabilities	7.6B	7.1B	41.7B	7.6B	13.6B	17.4B	15.8B	17.3B	16.3B	16.3B
Long-term debt	16.2B	17.8B	—	1.7B	38.5B	39B	49B	52B	54B	57.7B
Total liabilities	50.4B	48.5B	64.1B	79.8B	76.6B	82.1B	95.6B	100.4B	103.3B	108.8B
Shareholders' equity	18.2B	19.5B	12.9B	5.4B	21.3B	21.2B	23.1B	25.3B	30.4B	32.8B
Total debt	18.4B	19.1B	22B	3.8B	42.6B	46.2B	53.5B	57.7B	58.3B	61.3B
Net debt	18.3B	18.7B	20.3B	2.2B	42.1B	45.9B	52.8B	57.1B	57.4B	60.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	589M	635M	658M	1.3B	895M	940M	2B	494M	404M	713M	1.1B	972M
Receivables	2.2B	2B	2.2B	2B	2.3B	2.2B	2.1B	2B	2.3B	2.3B	1.9B	1.9B
Inventory	888M	870M	821M	823M	812M	820M	789M	786M	763M	820M	831M	855M
Total current assets	12.8B	14.4B	15.2B	16.7B	17.5B	17.2B	16.9B	15.2B	14.4B	15.8B	14.8B	15.4B
Property, plant & equipment	-26.6B	-27.3B	-27.9B	-28.3B	-28.3B	-29.5B	90.2B	92.3B	94.3B	96.8B	98.7B	100.7B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	123B	125.7B	127.6B	130.8B	132.3B	133.7B	135.4B	136.4B	138.2B	141.6B	142B	145.1B
Accounts payable	2.7B	2.3B	2.1B	2.1B	2.4B	2.7B	2.5B	2.7B	3B	3.4B	2.8B	3B
Short-term debt	4.5B	5.7B	4.1B	7.4B	4.8B	4.3B	6.9B	5.3B	3.9B	3.6B	2.4B	2.5B
Total current liabilities	15.2B	17.3B	15.5B	18.5B	16.9B	16.3B	17.8B	16.2B	15.3B	16.3B	12.3B	12.7B
Long-term debt	51.4B	52B	54.5B	53.2B	55.2B	54B	53.1B	54.4B	55.9B	57.7B	60.6B	62.2B
Total liabilities	98.6B	100.4B	101.7B	104.3B	105.2B	103.3B	104.5B	104.9B	106B	108.8B	108.5B	110.9B
Shareholders' equity	24.4B	25.3B	26B	26.5B	27.1B	30.4B	30.9B	31.4B	32.2B	32.8B	33.5B	34.2B
Total debt	56B	57.7B	58.6B	60.6B	60B	58.3B	60B	59.7B	59.8B	61.3B	62.9B	64.7B
Net debt	55.4B	57.1B	57.9B	59.3B	59.1B	57.4B	57.9B	59.2B	59.4B	60.6B	61.8B	63.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.4B	1.7B	-6.8B	-7.6B	411M	-88M	1.8B	2.3B	2.5B	2.7B
Depreciation & amortization	2.8B	2.9B	3B	3.2B	3.5B	3.4B	3.9B	3.7B	4.2B	4.6B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-1.6B	-56M	11.1B	-1B	-19.7B	-2.8B	-1.8B	-650M	140M	292M
Operating cash flow	4.4B	6B	4.7B	4.8B	-19.2B	2.1B	3.6B	4.1B	7.7B	8.7B
Capital expenditure	—	—	—	0	0	749M	—	—	—	-11.8B
Investing cash flow	-44M	-9M	-50M	-65M	-58M	1.5B	-630M	552M	-1B	-12.3B
Dividends paid	-921M	-1B	0	0	—	—	—	—	-86M	-317M
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	1.2B	-1.4B	1.9B	1B	24.1B	-7.1B	-2.9B	-8.3B	3.6B	2.4B
Net change in cash	5.5B	4.6B	6.6B	5.7B	4.8B	-3.5B	31M	-3.7B	10.3B	-1.2B
Free cash flow	-1.3B	336M	-1.8B	-1.5B	-26.7B	-5.4B	-5.9B	-5B	-2.3B	-3.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	351M	923M	735M	478M	579M	674M	695M	549M	850M	670M	885M	761M
Depreciation & amortization	811M	853M	1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.3B	1.2B	1.1B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	165M	-943M	257M	-1.1B	706M	354M	877M	-1.1B	587M	-75M	9M	-1.4B
Operating cash flow	1.6B	393M	2.2B	598M	3B	1.8B	2.9B	916M	2.9B	2B	2.4B	906M
Capital expenditure	—	—	—	—	—	—	—	—	-2.9B	-3.2B	-3.4B	-3B
Investing cash flow	130M	162M	-292M	3M	-389M	-328M	-629M	61M	-3B	-3.1B	-3.3B	-2.9B
Dividends paid	0	—	-21M	410M	-21M	-22M	-578M	-80M	-80M	-79M	-134M	-134M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-6.3B	-2B	-2.9B	5B	-8B	6.5B	1.6B	256M	-817M	1.6B	-1.4B	-786M
Net change in cash	-4.6B	-1.4B	-956M	5.6B	-5.4B	8B	3.8B	1.2B	-948M	530M	-2.2B	-2.7B
Free cash flow	-611M	-2.1B	-377M	-1.6B	526M	-896M	320M	-2B	-80M	-1.2B	-926M	-2.1B

PG&E Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history