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PG&E Corporation

PCG Clue Score41
United States Fiscal year ends December CIK 0001004980
$13.13 +3.63% Close, 9 Oct 2026
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Price $13.13 +29.36% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue17.67Operating income2.08Net income1.41EPS, diluted2.78Fiscal year 2017Revenue17.14 −3.0%Operating income2.91Net income1.66 +18.0%EPS, diluted3.21Fiscal year 2018Revenue16.76 −2.2%Operating income−9.70Net income−6.84 −511.9%EPS, diluted−13.25Fiscal year 2019Revenue17.13 +2.2%Operating income−10.09Net income−7.64EPS, diluted−14.50Fiscal year 2020Revenue18.47 +7.8%Operating income1.76Net income−1.30EPS, diluted−1.05Fiscal year 2021Revenue20.64 +11.8%Operating income1.88EPS, diluted−0.05Fiscal year 2022Revenue21.68 +5.0%Operating income1.84EPS, diluted0.84Fiscal year 2023Revenue24.43 +12.7%Operating income2.67EPS, diluted1.05Fiscal year 2024Revenue24.42 −0.0%Operating income4.46EPS, diluted1.15Fiscal year 2025Revenue24.94 +2.1%Operating income4.75EPS, diluted1.18
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 17.67 17.14 16.76 17.13 18.47 20.64 21.68 24.43 24.42 24.94
Growth −3.0% −2.2% +2.2% +7.8% +11.8% +5.0% +12.7% −0.0% +2.1%
Operating income 2.08 2.91 −9.70 −10.09 1.76 1.88 1.84 2.67 4.46 4.75
Net income 1.41 1.66 −6.84 −7.64 −1.30 n/a n/a n/a n/a n/a
Growth +18.0% −511.9%
EPS, diluted 2.78 3.21 −13.25 −14.50 −1.05 −0.05 0.84 1.05 1.15 1.18

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin11.8%Net margin8.0%Free cash flow margin−7.4%Fiscal year 2017Operating margin17.0%Net margin9.7%Free cash flow margin2.0%Fiscal year 2018Operating margin−57.9%Net margin−40.8%Free cash flow margin−10.5%Fiscal year 2019Operating margin−58.9%Net margin−44.6%Free cash flow margin−8.7%Fiscal year 2020Operating margin9.5%Net margin−7.1%Free cash flow margin−145.2%Fiscal year 2021Operating margin9.1%Free cash flow margin−26.3%Fiscal year 2022Operating margin8.5%Free cash flow margin−27.0%Fiscal year 2023Operating margin10.9%Free cash flow margin−20.3%Fiscal year 2024Operating margin18.3%Free cash flow margin−9.6%Fiscal year 2025Operating margin19.0%Free cash flow margin−12.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 11.8% 17.0% −57.9% −58.9% 9.5% 9.1% 8.5% 10.9% 18.3% 19.0%
Net margin 8.0% 9.7% −40.8% −44.6% −7.1% n/a n/a n/a n/a n/a
Free cash flow margin −7.4% 2.0% −10.5% −8.7% −145.2% −26.3% −27.0% −20.3% −9.6% −12.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow4.41Capital expenditure−5.71Free cash flow−1.30Dividends paid−0.92Fiscal year 2017Operating cash flow5.98Capital expenditure−5.64Free cash flow0.34Dividends paid−1.02Fiscal year 2018Operating cash flow4.75Capital expenditure−6.51Free cash flow−1.76 −624.4%Dividends paid0.00Fiscal year 2019Operating cash flow4.82Capital expenditure−6.31Free cash flow−1.50Dividends paid0.00Fiscal year 2020Operating cash flow−19.13Capital expenditure−7.69Free cash flow−26.82Fiscal year 2021Operating cash flow2.26Capital expenditure−7.69Free cash flow−5.43Fiscal year 2022Operating cash flow3.72Capital expenditure−9.58Free cash flow−5.86Dividends paid0.00Fiscal year 2023Operating cash flow4.75Capital expenditure−9.71Free cash flow−4.97Dividends paid0.00Fiscal year 2024Operating cash flow8.04Capital expenditure−10.37Free cash flow−2.33Dividends paid−0.09Fiscal year 2025Operating cash flow8.72Capital expenditure−11.79Free cash flow−3.07
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 4.41 5.98 4.75 4.82 −19.13 2.26 3.72 4.75 8.04 8.72
Capital expenditure −5.71 −5.64 −6.51 −6.31 −7.69 −7.69 −9.58 −9.71 −10.37 −11.79
Free cash flow −1.30 0.34 −1.76 −1.50 −26.82 −5.43 −5.86 −4.97 −2.33 −3.07
Growth −624.4%
Dividends paid −0.92 −1.02 0.00 0.00 n/a n/a 0.00 0.00 −0.09 n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.18Total debt16.92Net cash (debt)−16.74Shareholders’ equity17.94Debt to equity0.94Fiscal year 2017Cash0.45Total debt18.20Net cash (debt)−17.75Shareholders’ equity19.22Debt to equity0.95Fiscal year 2018Cash1.67Total debt40.63Net cash (debt)−38.97Shareholders’ equity12.65Debt to equity3.21Fiscal year 2019Cash1.57Total debt0.00Net cash (debt)1.57Shareholders’ equity5.14Debt to equity0.00Fiscal year 2020Cash0.48Total debt37.32Net cash (debt)−36.83Shareholders’ equity21.00Debt to equity1.78Fiscal year 2021Cash0.29Total debt42.71Net cash (debt)−42.42Shareholders’ equity20.97Debt to equity2.04Fiscal year 2022Cash0.73Total debt50.01Net cash (debt)−49.28Shareholders’ equity22.82Debt to equity2.19Fiscal year 2023Cash0.64Total debt52.35Net cash (debt)−51.72Shareholders’ equity25.04Debt to equity2.09Fiscal year 2024Cash0.94Total debt55.72Net cash (debt)−54.78Shareholders’ equity30.15Debt to equity1.85Fiscal year 2025Cash0.71Total debt58.21Net cash (debt)−57.50Shareholders’ equity32.54Debt to equity1.79
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.18 0.45 1.67 1.57 0.48 0.29 0.73 0.64 0.94 0.71
Total debt 16.92 18.20 40.63 0.00 37.32 42.71 50.01 52.35 55.72 58.21
Net cash (debt) −16.74 −17.75 −38.97 1.57 −36.83 −42.42 −49.28 −51.72 −54.78 −57.50
Shareholders’ equity 17.94 19.22 12.65 5.14 21.00 20.97 22.82 25.04 30.15 32.54
Debt to equity 0.94 0.95 3.21 0.00 1.78 2.04 2.19 2.09 1.85 1.79

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
11.8% 17.0% −57.9% −58.9% 9.5% 9.1% 8.5% 10.9% 18.3% 19.0%
8.3% 12.7% −60.4% −64.5% −5.1% 3.6% 2.2% 2.9% 9.5% 9.7%
8.0% 9.7% −40.8% −44.6% −7.1% n/a n/a n/a n/a n/a
−7.4% 2.0% −10.5% −8.7% −145.2% −26.3% −27.0% −20.3% −9.6% −12.3%
Spending
32.3% 32.9% 38.9% 36.9% 41.6% 37.2% 44.2% 39.8% 42.5% 47.3%
3.8% 23.5% n/a n/a n/a 111.8% −281.1% −222.7% −8.7% −11.6%
Returns
7.8% 8.6% −54.0% −148.8% −6.2% n/a n/a n/a n/a n/a
2.1% 2.4% −8.9% −9.0% −1.3% n/a n/a n/a n/a n/a
Balance and payout
0.94 0.95 3.21 0.00 1.78 2.04 2.19 2.09 1.85 1.79
65.5% 61.5% n/a n/a n/a n/a n/a n/a n/a n/a
n/a 303.9% n/a n/a n/a n/a n/a n/a n/a n/a