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Fundamentals snapshot

PG&E Corporation

PCG · NYQ · Utilities · Utilities - Regulated Electric

Current price

$13.13

52-week range

$11.77 - $19.16

Market cap

$39.42B

One-glance verdict

Overvalued

$-23.59 our estimate vs market $13.13

Wall Street consensus: $18.75 (-179.5% lower than our fair-value estimate)

Balance sheet

Stretched

1.60x Concerning

Net debt $63.73B. Interest coverage shows how many times profit covers the interest bill.

What this company does

PG&E Corporation

PG&E Corporation is like your electricity and gas provider, delivering power to homes and businesses in northern and central California. Their main money comes from charging people for the electricity and natural gas they use, which is important because it keeps the lights on and homes warm. They generate this power from various sources like nuclear, hydro, and solar, and then deliver it through a huge network of wires and pipelines they own.

Price history

How the share price has moved

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Earnings history

Last 8 quarters — what happened

Click any quarter to read the call summary and what the numbers say.

Free cash flow by quarter (oldest to newest)
FY2024 Q3 $526.00M FY2024 Q4 $-896.00M FY2025 Q1 $213.00M FY2025 Q2 $-2.01B FY2025 Q3 $-80.00M FY2025 Q4 $-1.20B FY2026 Q1 $-926.00M FY2026 Q2 $-2.06B
Revenue $5.90B
Net income —
Diluted EPS 0.33
Operating cash flow $906.00M
Free cash flow $-2.06B
Revenue $6.88B
Net income —
Diluted EPS 0.39
Operating cash flow $2.43B
Free cash flow $-926.00M
Revenue $6.80B
Net income —
Diluted EPS 0.29
Operating cash flow $1.96B
Free cash flow $-1.20B
Revenue $6.25B
Net income —
Diluted EPS 0.37
Operating cash flow $2.85B
Free cash flow $-80.00M
Revenue $5.90B
Net income —
Diluted EPS 0.24
Operating cash flow $1.06B
Free cash flow $-2.01B
Revenue $5.98B
Net income —
Diluted EPS 0.28
Operating cash flow $2.85B
Free cash flow $213.00M
Revenue $6.63B
Net income —
Diluted EPS 0.30
Operating cash flow $1.93B
Free cash flow $-896.00M
Revenue $5.94B
Net income —
Diluted EPS 0.27
Operating cash flow $3.13B
Free cash flow $526.00M

Is it cheap or expensive?

Fair value $-23.59 vs current price $13.13

Wall Street consensus is the average analyst price target: $18.75 (-179.5% lower than our fair-value estimate).

Our most-likely fair value is $-23.59 a share — about 279.7% below today's price of $13.13, so the stock currently looks expensive (overvalued).

overvalued

We estimate the cash this business should generate over the next 10 years and beyond, then convert it to today's money for a fair value per share, in its trading currency. Cautious, middle and optimistic growth cases give a range. Not for banks/insurers.

Base

Growth 2.5% · Discount 7.2% · Terminal 2.5%

$-23.59

Bear

Growth 2.5% · Discount 7.2% · Terminal 2.5%

$-23.59

Bull

Growth 7.0% · Discount 7.2% · Terminal 2.5%

$-21.96

Is it drowning in debt?

Stretched

Net debt $63.7B. Interest coverage 1.6x.

Net debt $63.73B
Interest coverage 1.60x

PG&E Corporation's profit covers its interest bill about 1.6 times over. which is weaker than most peers shown here.

Stretched
Worse cushion Baseline Better cushion
PCG BASELINE PG&E Corporation

Total debt $64.70B Interest coverage 1.60x This is the baseline the peer rows are being compared against.

1.60x
NEE NextEra Energy, Inc.

Total debt $110.20B Interest coverage 1.75x +10% vs PCG Has roughly the same debt cushion as PCG.

1.75x +10% vs PCG
SO The Southern Company

Total debt $77.09B Interest coverage 2.25x +40% vs PCG Carries about 1.4x more debt cushion than PCG.

2.25x +40% vs PCG
DUK Duke Energy Corporation

Total debt $92.21B Interest coverage 2.36x +47% vs PCG Carries about 1.5x more debt cushion than PCG.

2.36x +47% vs PCG
AEP American Electric Power Company, Inc.

Total debt $53.53B Interest coverage 2.66x +66% vs PCG Carries about 1.7x more debt cushion than PCG.

2.66x +66% vs PCG
D Dominion Energy, Inc.

Total debt $53.93B Interest coverage 2.44x +52% vs PCG Carries about 1.5x more debt cushion than PCG.

2.44x +52% vs PCG

What you should know

The case for and against PCG

3 Rewards 1 Risk

Rewards

  • Revenue grew 3.6% last year.
  • Returns 9.3% on equity, ahead of 16% of its peers.
  • Free cash flow was positive in 1/10 years.

Risks

  • Net debt grew 14.8% over 3 years.

The numbers

All the key metrics, grouped by purpose

Tap any ? icon to learn what it means.

Valuation

How expensive the stock looks

P/E (TTM)
9.51x
Forward P/E
7.29x
P/B
0.89x
P/S
1.53x
EV/EBITDA
9.04x
PEG ratio
0.55x

Profitability

How much profit each dollar creates

Gross margin
39.8%
Operating margin
24.8%
Net margin
11.8%
ROE
9.3%
ROA
2.6%

Health

Liquidity and balance-sheet strength

Debt / equity
1.89x
Current ratio
1.22x
Quick ratio
0.52x
Total debt
$64.70B
Total cash
$972.00M

Growth

How the business has been compounding

Revenue TTM
$25.84B
Revenue 5Y CAGR
4.8%
EPS TTM
1.38
EPS 5Y CAGR
12.0%

Cash flow

How much cash the business throws off

Operating CF TTM
$8.15B
Free CF TTM
$-3.07B
FCF margin
-11.9%

Dividend

Shareholder payout

Yield
1.5%
Payout ratio
12.7%
Last ex-div date
2026-09-30