Is PG&E financially healthy?

On 30 September 2026 PG&E held 902.00M USD in cash and short-term investments against total debt of 65.48B USD. Its current ratio is 1.03: what falls due within a year against what turns into cash within a year. Over the last twelve months its free cash flow was -4.98B USD: it spent more cash than it brought in.

PG&E's revenue grew 6.2% a year over its last five fiscal years, from 18.47B USD in fiscal year 2020 to 24.94B USD in fiscal year 2025. Over the last twelve months it was up 4.1% on the twelve months before.

Where can I find PG&E's annual report (10-K)?

PG&E files its annual report (Form 10-K) and its quarterly reports (Form 10-Q) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

PG&E
D
Quotes are delayed by 15 minutes

PCG

Arincen ScoreBeta50/100

50/100B

12.975

USD

-0.24

(-1.78%)

Post Trading·12.960USD-0.015(-0.12%)

Last updated: 6 Nov, 16:12 GMT-5 · Delayed 15 min

Fair valueNot reliable

Q4 FY2026 · Earnings report

EPS estimate 0.40Revenue estimate 6.90B

Q4 FY2026 · Earnings report

Thursday 11 February

EPS estimate 0.40Revenue estimate 6.90B

Fair valueNot reliable

Q4 FY2026 · Earnings report

EPS estimate 0.40Revenue estimate 6.90B

Q4 FY2026 · Earnings report

Thursday 11 February

EPS estimate 0.40Revenue estimate 6.90B

Overview Financials Forecast Earnings Dividends Company

PG&E financials

Yes. PG&E earned 3.09B USD of net income over the last twelve months, 12.0% of its revenue. It made a profit in 34 of its 41 fiscal years since 1985. Its last loss was in fiscal year 2021.

Revenue (TTM): 25.78B USD
Net income (TTM): 3.09B USD
Free cash flow (TTM): -4.98B USD
Cash and short-term investments: 902.00M USD
Total debt: 65.48B USD
Shareholders' equity: 34.57B USD

Cash, debt and equity as of 30 Sept 2026.

PG&E earnings

Next earnings · Q4 FY2026

11 Feb 2027

EPS estimate

0.40 USD

Revenue estimate

6.90B USD

Last quarter · Q3 FY2026

EPS0.41Missed -0.8%Revenue6.19BMissed -9.3%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q3 FY2028	—	0.55	—	—	—	6.19B	—	—	—
Q2 FY2028	—	0.45	—	—	—	6.19B	—	—	—
Q1 FY2028	—	0.48	—	—	—	6.19B	—	—	—
Q4 FY2026	11 Feb 2027	0.40	—	—	+11.11%	6.90B	—	—	+1.46%
Q3 FY2026	22 Oct 2026	0.41	0.41	-0.80%	-18.00%	6.82B	6.19B	-9.29%	-0.99%
Q2 FY2026	23 Jul 2026	0.36	0.40	+11.64%	+29.03%	6.20B	5.90B	-4.87%	+0.07%
Q1 FY2026	23 Apr 2026	0.40	0.43	+8.01%	+30.30%	6.26B	6.88B	+9.95%	+15.01%
Q4 FY2025	12 Feb 2026	0.36	0.36	-1.13%	+16.13%	7.05B	6.80B	-3.52%	+2.61%
Q3 FY2025	23 Oct 2025	0.42	0.50	+17.90%	+35.14%	6.41B	6.25B	-2.51%	+5.20%
Q2 FY2025	31 Jul 2025	0.32	0.31	-1.87%	0.00%	6.24B	5.90B	-5.46%	-1.47%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2028	1.97	—	—	+9.27%	28.05B	—	—	+3.56%
FY2027	1.80	—	—	+9.36%	27.09B	—	—	+3.84%
FY2026	1.65	—	—	+9.85%	26.09B	—	—	+4.62%
FY2025	1.50	1.50	-0.15%	+10.29%	25.53B	24.94B	-2.32%	+2.11%
FY2024	1.36	1.36	-0.28%	+10.57%	24.74B	24.42B	-1.29%	-0.04%
FY2023	1.22	1.23	+1.20%	+11.82%	23.27B	24.43B	+4.99%	+12.68%
FY2022	1.10	1.10	-0.13%	+14.58%	21.81B	21.68B	-0.57%	+5.03%

PG&E growth and profitability

Full income statement

Revenue (TTM): 25.78B USD
Net income (TTM): 3.09B USD
Gross margin: 66.87%
Operating margin: 20.20%
Net margin: 12.00%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2025	24.94B	+2.11%	2.70B	+7.60%	19.59%	19.59%	10.84%	10.44B	+5.05%
FY2024	24.42B	-0.04%	2.51B	+11.35%	37.50%	18.26%	10.29%	9.94B	+26.50%
FY2023	24.43B	+12.68%	2.26B	+24.37%	16.38%	16.38%	9.24%	7.85B	+16.77%
FY2022	21.68B	+5.03%	1.81B	—	12.37%	12.37%	8.37%	6.73B	+7.29%
FY2021	20.64B	+11.77%	-88.00M	—	10.37%	10.37%	-0.43%	6.27B	+49.30%

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q3 FY2026	6.19B	776.00M	83.63%	20.18%	12.54%
Q2 FY2026	5.90B	761.00M	84.50%	21.40%	12.89%
Q1 FY2026	6.88B	885.00M	85.02%	21.36%	12.86%
Q4 FY2025	6.80B	670.00M	17.99%	17.99%	9.85%
Q3 FY2025	6.25B	850.00M	39.41%	19.34%	13.60%

How PG&E makes its money

Electricity18.32B 73.5%

Natural Gas, US Regulated6.76B 27.1%

Revenue24.94B 100.0%

Cost of revenue20.05B 80.4%

Gross profit4.88B 19.6%

Operating income4.88B 19.6%

Other expense2.46B 9.9%

Net income2.70B 10.8%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

PG&E revenue breakdown

By product

FY2025

73.0%Electricity27.0%Natural Gas, US Regulated

Segment	Revenue	Share of revenue	Change on the year
Electricity	18.32B	73.0%	-1.7%
Natural Gas, US Regulated	6.76B	27.0%	+2.3%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2025	8.72B	-3.07B
FY2024	8.04B	-2.33B
FY2023	4.75B	-4.97B
FY2022	3.72B	-5.86B
FY2021	2.26B	-5.43B
FY2020	-19.13B	-26.82B
FY2019	4.82B	-1.50B
FY2018	4.75B	-1.76B
FY2017	5.98B	336.00M
FY2016	4.41B	-1.30B

PG&E financial health

Full balance sheet

Cash and short-term investments: 902.00M USD
Total debt: 65.48B USD
Net cash: -64.58B USD
Free cash flow (TTM): -4.98B USD
Current ratio: 1.03
Debt to equity: 1.89
Piotroski score: 6 / 9
Altman Z-score: 0.52

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2025	713.00M	61.34B	-3.07B
FY2024	940.00M	58.34B	-2.33B
FY2023	635.00M	57.73B	-4.97B
FY2022	734.00M	53.54B	-5.86B
FY2021	291.00M	46.17B	-5.43B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2025	141.61B	108.82B	32.54B
FY2024	133.66B	103.26B	30.15B
FY2023	125.70B	100.41B	25.04B
FY2022	118.64B	95.57B	22.82B
FY2021	103.33B	82.10B	20.97B
FY2020	97.86B	76.60B	21.00B
FY2019	85.20B	79.81B	5.14B
FY2018	77.00B	64.09B	12.65B
FY2017	68.01B	48.54B	19.22B
FY2016	68.60B	50.41B	17.94B

PG&E valuation

Price to earnings ratio (TTM): 9.61
Forward P/E (FY2026): 7.87
Price to sales (TTM): 1.35
Price to book: 1.01
EV / EBITDA (TTM): 9.01

Capital structure

Market capitalization

34.77B USD

Total debt

65.48B USD

−

Cash and short-term investments

902.00M USD

Enterprise value

99.35B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2028 (est.)	6.59	—	—	—	—
FY2027 (est.)	7.20	6.59	—	—	—
FY2026 (est.)	7.87	7.20	—	—	—
Now (TTM)	9.61	7.29	1.35	1.01	9.01
FY2025	13.62	9.76	1.42	1.08	9.19
FY2024	17.40	11.04	1.77	1.43	10.13
FY2023	16.54	11.04	1.52	1.49	12.01
FY2022	17.87	11.04	1.49	1.42	12.65
FY2021	-242.80	11.04	1.17	1.15	11.16

PG&E against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Public Service Enterprise Group, WEC Energy Group, Ameren, Consolidated Edison, DTE Energy, and Entergy Louisiana, LLC COLLATERAL TR MT, the US Regulated Electric companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

P/E (today)Below its median9.6
8.716.4
Gross marginAbove its median19.6%
10.4%37.5%
Against its peers: 7 of 7Peers' median 64.4%
Operating marginHighest in 5 years19.6%
10.4%19.6%
Against its peers: 5 of 7Peers' median 23.6%
Net marginHighest in 5 years10.8%
-0.4%10.8%
Against its peers: 6 of 7Peers' median 14.7%
Return on equityAt its median8.3%
-0.4%9.0%
Against its peers: 7 of 7Peers' median 11.1%
Free cash flow marginAbove its median-12.3%
-27.0%-9.6%
Against its peers: 6 of 7Peers' median -7.8%
Revenue growthBelow its median2.1%
-0.0%12.7%
Against its peers: 7 of 7Peers' median 14.7%
EPS growthLowest in 5 years2.6%
2.6%25.0%
Against its peers: 6 of 7Peers' median 13.3%
Debt to EBITDABelow its median5.88×
5.87×7.96×
Against its peers: 6 of 7Peers' median 4.97×
Current ratioAbove its median0.97
0.641.05
Against its peers: 2 of 6Peers' median 0.80

Figure	FY2025	5-year low – high	Against its history	Against its peers
P/E (today)	9.6	8.716.4	Below its median	—
Gross margin	19.6%	10.4%37.5%	Above its median	7 of 7
Operating margin	19.6%	10.4%19.6%	Highest in 5 years	5 of 7
Net margin	10.8%	-0.4%10.8%	Highest in 5 years	6 of 7
Return on equity	8.3%	-0.4%9.0%	At its median	7 of 7
Free cash flow margin	-12.3%	-27.0%-9.6%	Above its median	6 of 7
Revenue growth	2.1%	-0.0%12.7%	Below its median	7 of 7
EPS growth	2.6%	2.6%25.0%	Lowest in 5 years	6 of 7
Debt to EBITDA	5.88×	5.87×7.96×	Below its median	6 of 7
Current ratio	0.97	0.641.05	Above its median	2 of 6

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

PG&E dividends

Annual dividend: 0.20 USD
Dividend yield (indicated): 1.54%
Payout ratio: 14.81%
Years of dividend growth: 3
Frequency: Quarterly
Last payment: 0.05 USD
Last ex-dividend date: 30 Sept 2026
Last payment date: 15 Oct 2026

Dividends per share

Year	2025	2024	2017	2016	2015	2014	2013	2012	2011	2010
Dividends per share	0.10	0.04	2.04	1.89	1.82	1.82	1.82	1.82	1.82	1.79

PG&E ownership

Institutions: 98.61%
Institutional holders: 1,009 (+36)
Free float: 81.90%

Who owns the shares

Institutions 98.6% Others 1.4%

As of 30 Jun 2026

Shares free to trade

Free float 2.19B shares ·81.9% Closely held 485.05M shares ·18.1%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

Quarter	Purchases	Sales	Shares acquired	Shares disposed of
Q4 2026	0	0	586.27	1.03K
Q3 2026	1	3	22.83K	171.09K
Q2 2026	0	3	162.95K	120.98K
Q1 2026	0	6	3.02M	1.88M

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2025	2.20B	2.20B	+2.56%
FY2024	2.14B	2.15B	+0.42%
FY2023	2.06B	2.14B	+0.28%
FY2022	1.99B	2.13B	+7.41%
FY2021	1.99B	1.99B	+57.92%

Common questions about PG&E's financials

Source: Financial Modeling Prep

PG&E
D
Quotes are delayed by 15 minutes

PCG

PG&E financials

PG&E earnings

Revenue

EPS

PG&E growth and profitability

Revenue / Net income

How PG&E makes its money

PG&E revenue breakdown

By product

Operating and free cash flow

PG&E financial health

Cash, debt and free cash flow

Assets, liabilities and equity

PG&E valuation

Capital structure

Valuation over time

PG&E against its own history

PG&E dividends

Dividends per share

PG&E ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about PG&E's financials

Is PG&E profitable?

Is PG&E financially healthy?

Is PG&E growing?

Where can I find PG&E's annual report (10-K)?

Need help?

PG&E DQuotes are delayed by 15 minutes

PCG

PG&E financials

PG&E earnings

Revenue

EPS

PG&E growth and profitability

Revenue / Net income

How PG&E makes its money

PG&E revenue breakdown

By product

Operating and free cash flow

PG&E financial health

Cash, debt and free cash flow

Assets, liabilities and equity

PG&E valuation

Capital structure

Valuation over time

PG&E against its own history

PG&E dividends

Dividends per share

PG&E ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about PG&E's financials

Is PG&E profitable?

Is PG&E financially healthy?

Is PG&E growing?

Where can I find PG&E's annual report (10-K)?

Need help?

PG&E
D
Quotes are delayed by 15 minutes