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NYSE · Utilities

PG&E Corp (PCG)

As-reported financials and SEC filings for PG&E Corp. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About PG&E Corp

PG&E Corporation is a holding company whose main operating subsidiary is Pacific Gas and Electric Company, a public utility serving Northern and Central California. The utility generates revenue primarily by selling and delivering electricity and natural gas to residential, commercial, and industrial customers in its service area. It focuses on safety, environmental sustainability, and reliable energy delivery while managing regulatory and financial objectives.

Snapshot

Revenue
$24.93B
Revenue growth (YoY)
2.1%
Net income
$2,593
Diluted EPS
$1.18
Gross margin
—
Operating margin
19.0%
Net margin
0.0%
FCF margin
-12.3%
ROE
0.0%
net income / fiscal-year-end equity
P/E
9.4×
trailing when available, otherwise FY EPS
Market cap
$38.58B
Long-term debt / equity
1.75×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at PG&E

  • Revenue grew 2.1% to $24.9B in FY2025, after a 0.0% decline the year before.
  • Operating margin is 19.0% in FY2025, +9.9 pp against 9.1% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $5.9B, up 0.1% from Q2 FY2025.
  • Free cash flow was negative $3.1B in FY2025.
  • Net income rose 4.8% to $2593 in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where PG&E’s fundamentals sit among the 86 Utilities companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin19.0%
41st percentile of 77
Net margin0.0%
10th percentile of 80
FCF margin-12.3%
37th percentile of 66
Revenue growth (YoY)+2.1%
21st percentile of 82
ROE0.0%
13th percentile of 81
P/E9.4×
5th percentile of 74
Long-term debt / equity1.75×
86th percentile of 77
Short interest1.13d
8th percentile of 86

PG&E’s P/E of 9.4 ranks in the 5th percentile of the 74 peers with a meaningful P/E. PG&E’s net margin of 0.0% ranks in the 10th percentile of the 80 Utilities companies reporting it. PG&E’s return on equity of 0.0% ranks in the 13th percentile of the 81 Utilities companies reporting it.

1 reported insider purchase (code P) totaling $91,500 in the last 90 days, against 1 sale totaling $89,440. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+7 quant / multi-strat
Initiated / added
6
1 new, 5 added
Reduced / exited
3
3 trimmed, 0 exited
Combined position
$2.49B
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$1.45B86.3MAdded
Two Sigma InvestmentsquantQ2 2026$328.2M19.5MAdded
Citadel AdvisorsquantQ2 2026$215.0M12.8MAdded
Millennium ManagementquantQ2 2026$188.0M11.2MReduced
Greenlight CapitalQ2 2026$111.6M6.6MHeld
Bridgewater AssociatesQ2 2026$99.8M5.9MAdded
Point72 Asset ManagementquantQ2 2026$64.6M3.8MReduced
D. E. ShawquantQ2 2026$18.4M1.1MAdded
Renaissance TechnologiesquantQ2 2026$10.9M646.4KNew
Gotham Asset ManagementQ2 2026$717,20542.6KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
1
1 insider
Bought (90d)
$92K
code P value
Sells (90d)
1
$89K
Reported activity
Net buying
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-09-30
filed 2026-10-01
John O. LarsenDirectorBuy7.5K$12.20$92K
2026-09-04
filed 2026-09-09
William Craig FugateDirectorSell6.5K$13.76$89K
2026-07-22
filed 2026-07-24
Santos MarleneInsiderSell158.3K$18.00$2.8M
2026-07-22
filed 2026-07-24
Kerry Whorton CooperDirectorSell1.3K$18.00$23K
2026-06-15
filed 2026-06-16
Carla J. PetermanPresident, EVP Cust&Corp AfrsSell31.8K$16.68$530K
2026-06-02
filed 2026-06-03
Kerry Whorton CooperDirectorSell1.3K$16.50$21K
2026-04-28
Jason M. GlickmanEVP, Strategy and GrowthSell47.3K$16.35$773K
2026-04-28
Patricia K. PoppeChief Executive OfficerSell31.3K$16.39$512K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
38.4M
settled 2026-10-15
Change vs prior
+5.4%
vs previous settlement
Days to cover
1.13
at avg daily volume
Avg daily volume
34.0M
FINRA reported
SettlementShares shortChangeDays to cover
2026-10-1538.4M+5.4%1.13
2026-09-3036.4M-6.7%1.00
2026-09-1539.0M+1.7%1.00
2026-08-3138.4M+7.6%1.00
2026-08-1435.7M+7.8%1.32
2026-07-3133.1M-14.0%1.42
2026-07-1538.5M-1.7%2.81
2026-06-3039.2M-3.3%1.81

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$24.93B$24.42B$24.43B$21.68B$20.64B
Gross profit—————
Operating income$4.75B$4.46B$2.67B$1.84B$1.88B
Pre-tax income$2.42B$2.31B$699.0M$476.0M$748.0M
Net income$2,593$2,475$2,242$1,800$-102
Diluted EPS$1.18$1.15$1.05$0.84$-0.05

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$713.0M$940.0M$635.0M$734.0M$291.0M
Current assets$15.83B$17.22B$14.38B$12.81B$11.08B
Total assets$141.61B$133.66B$125.70B$118.64B$103.33B
Current liabilities$16.30B$16.33B$17.31B$15.79B$17.43B
Long-term debt$57.39B$53.57B$50.98B$47.74B$38.23B
Total liabilities
Total equity$32.79B$30.40B$25.29B$23.07B$21.22B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$8.72B$8.04B$4.75B$3.72B$2.26B
Capital expenditure$11.79B$10.37B$9.71B$9.58B$7.69B
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$5.90B0.1%$761.0M$0.33
Q1 FY2026$6.88B15.0%$885.0M$0.39
Q4 FY20252.6%—
Q3 FY2025$6.25B5.2%$850.0M$0.37
Q2 FY2025$5.90B-1.5%$549.0M$0.24
Q1 FY2025$5.98B2.1%$634.0M$0.28
Q4 FY2024-5.8%—
Q3 FY2024$5.94B0.9%$579.0M$0.27

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorUtilities
SIC industryElectric & Other Services Combined
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2017
SEC CIK1004980

Selected SEC filings

10-K2026-02-12
View on EDGAR →
10-K2025-02-13
View on EDGAR →
10-Q2026-10-22
View on EDGAR →
10-Q2026-07-23
View on EDGAR →
10-Q2026-04-23
View on EDGAR →
10-Q2025-10-23
View on EDGAR →
8-K2026-10-22
View on EDGAR →
8-K2026-08-31
View on EDGAR →

Largest Utilities peers

All Utilities companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.