Pacific Gas & Electric Co. (PCG) 10-Year Financial Performance & Capital Metrics

PCG • • Utilities

UtilitiesElectric UtilitiesRegional Electric UtilitiesSingle-State Electric Utilities

AboutPacific Gas and Electric Company generates, transmits, distributes, and sells electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, and photovoltaic sources. The company also develops a personal microgrid backup power transfer meter device for customers that fully integrates into its existing electric SmartMeter system. It serves residential, commercial, industrial, and agricultural customers, as well as natural gas-fired electric generation facilities. The company was incorporated in 1905 and is headquartered in San Francisco, California. Pacific Gas and Electric Company operates as a subsidiary of PG&E Corporation.Show more

Revenue $24.42B
EBITDA $9.03B +8.7%
Net Income $2.51B +11.3%
Free Cash Flow -$2.33B +53.0%
EBITDA Margin 36.98% +8.8%
Net Margin 10.29% +11.4%
ROE 9.02% -3.3%
Interest Coverage 1.46 +4.1%
Debt/Equity 1.92 -15.9%
Net Debt/EBITDA 6.36 -7.5%
CapEx / Revenue 42.46% +6.8%
CapEx Coverage 0.77 +58.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Trading at only 1.1x book value

✗Weaknesses

✗High leverage: 6.5x Debt/EBITDA
✗Weak interest coverage of 1.5x

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.63%

5Y7.35%

3Y5.76%

TTM-0.27%

Profit (Net Income) CAGR

10Y5.65%

5Y-

3Y-

TTM-1.96%

EPS CAGR

10Y-9.32%

5Y-

3Y-

TTM-7.81%

ROCE

10Y Avg3.71%

5Y Avg3.12%

3Y Avg3.53%

Latest3.95%

Peer Comparison

Single-State Electric Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
IDAIDACORP, Inc.	7.17B	132.73	24.13	3.41%	17.59%	9.11%	0.92
TXNMTXNM Energy, Inc.	6.43B	59.03	22.11	1.65%	8.41%	5.11%	2.25
EVRGEvergy, Inc.	17.45B	75.78	19.99	6.17%	14.41%	8.4%	1.41
OGEOGE Energy Corp.	9.01B	43.72	19.96	11.63%	15.28%	10.49%	1.19
EIXEdison International	23.67B	61.52	18.59	7.72%	17.61%	16.48%	2.13
PNWPinnacle West Capital Corporation	11.09B	92.69	17.69	9.13%	11.2%	8.24%	1.61
PORPortland General Electric Company	5.55B	49.30	16.38	17.69%	8.82%	7.67%	1.36
PCGPacific Gas & Electric Co.	34.68B	15.78	13.72	-0.04%	10.93%	8.4%	1.92

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	16.83B	17.67B	17.14B	16.76B	17.13B	18.47B	20.64B	21.68B	24.43B	24.42B
Revenue Growth %	-0.02%	0.05%	-0.03%	-0.02%	0.02%	0.08%	0.12%	0.05%	0.13%	-0%
Cost of Revenue	14.46B	14.77B	14.15B	14.44B	15.64B	16.46B	18.5B	19B	20.43B	15.26B
Gross Profit+	2.38B	2.89B	2.98B	2.32B	1.49B	2.01B	2.14B	2.68B	4B	9.16B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.06%	0.22%	0.03%	-0.22%	-0.36%	0.34%	0.07%	0.25%	0.49%	1.29%
Operating Expenses+	0	0	0	0	0	0	0	0	0	4.7B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	4.99B	5.65B	5.84B	5.35B	4.73B	5.89B	6.06B	7.01B	8.31B	9.03B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0%	0.13%	0.03%	-0.08%	-0.12%	0.25%	0.03%	0.16%	0.18%	0.09%
Depreciation & Amortization+	2.61B	2.75B	2.85B	3.04B	3.23B	3.88B	3.92B	4.33B	4.3B	4.57B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	2.38B	2.89B	2.98B	2.32B	1.49B	2.01B	2.14B	2.68B	4B	4.46B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.06%	0.22%	0.03%	-0.22%	-0.36%	0.34%	0.07%	0.25%	0.49%	0.11%
Interest Expense+	773M	829M	888M	929M	934M	1.26B	1.6B	1.92B	2.85B	3.05B
Interest Coverage	3.07x	3.49x	3.36x	2.49x	1.60x	1.59x	1.34x	1.40x	1.40x	1.46x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	861M	1.46B	2.17B	-10.13B	-11.04B	-942M	748M	476M	699M	2.31B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-27M	55M	511M	-3.29B	-3.4B	362M	836M	-1.34B	-1.56B	-200M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	888M	1.41B	1.66B	-6.84B	-7.64B	-1.3B	-88M	1.81B	2.26B	2.51B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.39%	0.58%	0.18%	-5.12%	-0.12%	0.83%	0.93%	21.61%	0.24%	0.11%
EPS (Diluted)+	1.79	2.78	3.21	-13.25	-14.50	-1.05	-0.05	0.84	1.05	1.15
EPS Growth %	-0.42%	0.55%	0.15%	-5.13%	-0.09%	0.93%	0.95%	17.8%	0.25%	0.1%
EPS (Basic)	1.81	2.79	3.21	-13.25	-14.50	-1.05	-0.05	0.91	1.09	1.16
Diluted Shares Outstanding	487M	501M	513M	517M	528M	1.26B	1.99B	2.13B	2.14B	2.15B

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	63.23B	68.6B	68.01B	77B	85.2B	97.86B	103.33B	118.64B	125.7B	133.66B
Asset Growth %	0.05%	0.08%	-0.01%	0.13%	0.11%	0.15%	0.06%	0.15%	0.06%	0.06%
PP&E (Net)+	46.72B	50.58B	53.79B	58.56B	63.92B	67.88B	71.06B	77.52B	82.92B	88.75B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	5.81B	6.16B	6.28B	9.2B	10.16B	9.6B	11.08B	12.81B	14.38B	17.22B
Cash & Equivalents	123M	177M	449M	1.67B	1.57B	484M	291M	734M	635M	940M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	439M	463M	481M	554M	647M	628M	596M	842M	870M	820M
Other Current Assets	1.09B	713M	1.08B	681M	961M	2.35B	1.85B	2.4B	2.42B	2.71B
Long-Term Investments	2.47B	2.61B	2.86B	2.73B	3.17B	3.54B	3.8B	3.3B	3.57B	3.83B
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Other Assets	8.23B	9.25B	5.08B	6.51B	7.94B	16.84B	17.39B	25.01B	24.82B	23.86B
Total Liabilities	46.41B	50.41B	48.54B	64.09B	79.81B	76.6B	82.1B	95.57B	100.41B	103.26B
Total Debt+	17.1B	18.44B	19.13B	21.99B	3.79B	42.6B	46.17B	53.54B	57.73B	58.34B
Net Debt	16.98B	18.26B	18.68B	20.33B	2.22B	42.12B	45.88B	52.8B	57.1B	57.4B
Long-Term Debt	15.93B	16.22B	17.75B	0	23.12B	37.29B	38.23B	47.74B	50.98B	53.57B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	49M	31M	18M	9M	2.29B	1.74B	1.28B	1.47B	1.41B	1.1B
Total Current Liabilities+	6.36B	7.56B	7.13B	41.7B	7.63B	13.58B	17.43B	15.79B	17.31B	16.33B
Accounts Payable	1.41B	1.5B	1.65B	1.98B	1.95B	2.4B	2.85B	2.89B	2.31B	2.75B
Accrued Expenses	206M	216M	217M	228M	4M	498M	481M	626M	679M	760M
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	2.45B	2.56B	2.25B	15.96B	1.25B	4.75B	5.16B	5.28B	6.12B	4.57B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K
Other Liabilities	14.86B	16.41B	17.84B	19.12B	45.82B	23.13B	25.64B	28.06B	29.07B	29.84B
Total Equity+	16.83B	18.19B	19.47B	12.9B	5.39B	21.25B	21.22B	23.07B	25.29B	30.4B
Equity Growth %	0.05%	0.08%	0.07%	-0.34%	-0.58%	2.94%	-0%	0.09%	0.1%	0.2%
Shareholders Equity	16.58B	17.94B	19.22B	12.65B	5.14B	21B	20.97B	22.82B	25.04B	30.15B
Minority Interest	252M	252M	252M	252M	252M	252M	252M	252M	252M	252M
Common Stock	11.28B	12.2B	12.63B	12.91B	13.04B	30.22B	35.13B	32.89B	30.37B	31.55B
Additional Paid-in Capital	11.28B	12.2B	12.63B	12.91B	0	28.29B	28.29B	0	0	0
Retained Earnings	5.3B	5.75B	6.6B	-250M	-7.89B	-9.2B	-9.28B	-7.54B	-5.32B	-2.97B
Accumulated OCI	-7M	-9M	-8M	-9M	-10M	-27M	-20M	-5M	-13M	-19M
Return on Assets (ROA)	0.01%	0.02%	0.02%	-0.09%	-0.09%	-0.01%	-0%	0.02%	0.02%	0.02%
Return on Equity (ROE)	0.05%	0.08%	0.09%	-0.42%	-0.84%	-0.1%	-0%	0.08%	0.09%	0.09%
Debt / Equity	1.02x	1.01x	0.98x	1.70x	0.70x	2.00x	2.18x	2.32x	2.28x	1.92x
Debt / Assets	0.27%	0.27%	0.28%	0.29%	0.04%	0.44%	0.45%	0.45%	0.46%	0.44%
Net Debt / EBITDA	3.40x	3.23x	3.20x	3.80x	0.47x	7.15x	7.57x	7.53x	6.87x	6.36x
Book Value per Share	34.55	36.31	37.96	24.96	10.2	16.91	10.69	10.82	11.83	14.16

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.78B	4.41B	5.98B	4.75B	4.82B	-19.13B	2.26B	3.72B	4.75B	8.04B
Operating CF Growth %	0.02%	0.17%	0.36%	-0.2%	0.01%	-4.97%	1.12%	0.65%	0.28%	0.69%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	888M	1.41B	1.66B	-6.84B	-7.64B	-1.3B	-88M	1.81B	2.26B	2.51B
Depreciation & Amortization	2.61B	2.75B	2.85B	3.04B	3.23B	3.88B	3.92B	4.33B	4.3B	4.57B
Deferred Taxes	693M	1.03B	1.25B	-2.53B	-2.95B	1.1B	1.78B	-452M	-765M	1.1B
Other Non-Cash Items	626M	774M	265M	158M	817M	1.73B	196M	491M	342M	467M
Working Capital Changes	-1.04B	-1.56B	-56M	10.93B	11.36B	-24.54B	-3.55B	-2.46B	-1.39B	-614M
Capital Expenditures+	-5.17B	-5.71B	-5.64B	-6.51B	-6.31B	-7.69B	-7.69B	-9.58B	-9.71B	-10.37B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-5.21B	-5.53B	-5.65B	-6.56B	-6.38B	-7.75B	-6.91B	-10.21B	-9.16B	-11.38B
Acquisitions	0	0	0	0	0	0	749M	0	0	0
Purchase of Investments	-1.39B	-1.35B	-1.32B	-1.49B	-1.03B	-1.59B	-1.7B	-4.23B	-2.25B	-3.42B
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	22M	13M	23M	23M	11M	14M	59M	34M	13M	35M
Cash from Financing+	1.4B	1.17B	-55M	3.03B	1.46B	25.93B	4.32B	7.13B	4.4B	3.62B
Dividends Paid	-856M	-921M	-1.02B	0	0	0	0	0	0	-86M
Dividend Payout Ratio %	0.96%	0.65%	0.62%	-	-	-	-	-	-	0.03%
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Stock Issued	780M	822M	395M	200M	85M	8.89B	0	0	0	2.71B
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	-27M	-44M	-107M	-20M	-8M	-40M	341M	53M	-17M	-59M
Net Change in Cash+	-92M	-173M	265M	1.22B	-91M	-950M	-320M	640M	-15M	281M
Exchange Rate Effect	-1000K	-1000K	-1000K	0	1000K	0	0	0	0	0
Cash at Beginning	449M	357M	184M	449M	1.67B	1.58B	627M	307M	947M	932M
Cash at End	357M	184M	449M	1.67B	1.58B	627M	307M	947M	932M	1.21B
Free Cash Flow+	-1.39B	-1.3B	336M	-1.76B	-1.5B	-26.82B	-5.43B	-5.86B	-4.97B	-2.33B
FCF Growth %	-0.21%	0.07%	1.26%	-6.24%	0.15%	-16.92%	0.8%	-0.08%	0.15%	0.53%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.41%	8.04%	8.81%	-42.24%	-83.56%	-9.79%	-0.41%	8.19%	9.33%	9.02%
EBITDA Margin	29.63%	31.97%	34.06%	31.94%	27.6%	31.88%	29.36%	32.36%	34.01%	36.98%
Net Debt / EBITDA	3.40x	3.23x	3.20x	3.80x	0.47x	7.15x	7.57x	7.53x	6.87x	6.36x
Interest Coverage	3.07x	3.49x	3.36x	2.49x	1.60x	1.59x	1.34x	1.40x	1.40x	1.46x
CapEx / Revenue	30.73%	32.32%	32.92%	38.87%	36.86%	41.64%	37.25%	44.21%	39.77%	42.46%
Dividend Payout Ratio	96.4%	65.46%	61.51%	-	-	-	-	-	-	3.42%
Debt / Equity	1.02x	1.01x	0.98x	1.70x	0.70x	2.00x	2.18x	2.32x	2.28x	1.92x
EPS Growth	-41.5%	55.31%	15.47%	-512.77%	-9.43%	92.77%	95.23%	1780%	25%	9.52%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Electricity	12.71B	12.74B	13.86B	15.13B	15.06B	17.42B	18.64B
Electricity Growth	-	0.21%	8.78%	9.19%	-0.47%	15.70%	6.98%
Natural Gas, US Regulated	4.05B	4.39B	4.61B	5.51B	6.62B	7B	6.61B
Natural Gas, US Regulated Growth	-	8.45%	5.06%	19.52%	20.12%	5.80%	-5.65%

Frequently Asked Questions

Valuation & Price

Pacific Gas & Electric Co. (PCG) has a price-to-earnings (P/E) ratio of 13.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Pacific Gas & Electric Co. (PCG) reported $24.76B in revenue for fiscal year 2024. This represents a 66% increase from $14.96B in 2011.

Pacific Gas & Electric Co. (PCG) saw revenue decline by 0.0% over the past year.

Yes, Pacific Gas & Electric Co. (PCG) is profitable, generating $2.71B in net income for fiscal year 2024 (10.3% net margin).

Dividend & Returns

Yes, Pacific Gas & Electric Co. (PCG) pays a dividend with a yield of 0.25%. This makes it attractive for income-focused investors.

Pacific Gas & Electric Co. (PCG) has a return on equity (ROE) of 9.0%. This is below average, suggesting room for improvement.

Pacific Gas & Electric Co. (PCG) had negative free cash flow of $2.77B in fiscal year 2024, likely due to heavy capital investments.

Industry Metrics

Pacific Gas & Electric Co. (PCG) has a dividend payout ratio of 3%. This suggests the dividend is well-covered and sustainable.

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