Pacific Gas & Electric (PCG) Financials

$16.58 +0.37 (+2.25%)

As of 12:59 PM Eastern

Annual Income Statements for Pacific Gas & Electric

This table shows Pacific Gas & Electric's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	874	1,393	1,646	-6,851	-7,656	-1,318	-102	1,800	2,242	2,475	2,593
Consolidated Net Income / (Loss)	888	1,407	1,660	-6,837	-7,642	-1,304	-88	1,814	2,256	2,512	2,703
Net Income / (Loss) Continuing Operations	888	1,407	1,660	-6,837	-7,642	-1,304	-88	1,814	2,256	2,512	2,703
Total Pre-Tax Income	861	1,462	2,171	-10,129	-11,042	-942	748	476	699	2,312	2,423
Total Operating Income	1,508	2,080	2,905	-9,700	-10,094	1,755	1,883	1,837	2,671	4,459	4,749
Total Gross Profit	4,120	12,286	5,759	5,107	13,300	5,887	6,061	7,015	7,040	9,125	9,870
Total Revenue	16,833	17,666	17,135	16,759	17,129	18,469	20,642	21,680	23,161	24,386	24,935
Operating Revenue	16,833	17,666	17,135	16,759	17,129	18,469	20,642	21,680	23,161	24,386	24,935
Total Cost of Revenue	12,713	5,380	11,376	11,652	3,829	12,582	14,581	14,665	16,121	15,261	15,065
Operating Cost of Revenue	12,713	5,380	11,376	11,652	3,829	12,582	14,581	14,665	16,121	15,261	15,065
Total Operating Expenses	2,612	10,206	2,854	14,807	23,394	4,132	4,178	5,178	4,369	4,666	5,121
Depreciation Expense	2,612	2,755	2,854	3,036	3,234	3,468	3,403	3,856	3,738	4,189	4,634
Other Operating Expenses / (Income)	-	7,451	0.00	11,771	20,160	251	258	845	64	94	135
Other Special Charges / (Income)	-	-	-	0.00	0.00	413	517	477	567	383	352
Total Other Income / (Expense), net	-647	-618	-734	-429	-948	-2,697	-1,135	-1,361	-1,972	-2,147	-2,326
Interest Expense	773	829	888	929	934	1,260	1,601	1,917	2,850	3,051	3,028
Interest & Investment Income	9.00	23	-	76	82	39	20	162	606	604	520
Other Income / (Expense), net	117	188	154	424	-96	-1,476	446	394	272	300	182
Income Tax Expense	-27	55	511	-3,292	-3,400	362	836	-1,338	-1,557	-200	-280
Preferred Stock Dividends Declared	14	14	14	28	14	14	14	14	14	37	110
Basic Earnings per Share	$1.81	$2.79	$3.21	($13.25)	($14.50)	($1.05)	($0.05)	$0.91	$1.09	$1.16	$1.18
Weighted Average Basic Shares Outstanding	484M	499M	512M	517M	528M	1.26B	1.99B	1.99B	2.06B	2.14B	2.20B
Diluted Earnings per Share	$1.79	$2.78	$3.21	($13.25)	($14.50)	($1.05)	($0.05)	$0.84	$1.05	$1.15	$1.18
Weighted Average Diluted Shares Outstanding	487M	501M	513M	517M	528M	1.26B	1.99B	2.13B	2.14B	2.15B	2.20B
Weighted Average Basic & Diluted Shares Outstanding	757.21M	-	512.80M	517.10M	793.63M	2.25B	5.19B	5.20B	5.49B	2.94B	2.94B

This table shows Pacific Gas & Electric's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	348	919	732	520	576	647	607	521	823	642	858
Consolidated Net Income / (Loss)	351	923	735	524	579	674	634	549	850	670	885
Net Income / (Loss) Continuing Operations	351	923	735	524	579	674	634	549	850	670	885
Total Pre-Tax Income	-65	465	774	606	473	459	673	569	630	551	905
Total Operating Income	401	1,135	1,276	1,134	1,029	1,020	1,220	1,096	1,209	1,224	1,470
Total Gross Profit	4,538	8,020	2,375	5,019	4,984	8,676	5,088	5,188	2,463	-223	2,738
Total Revenue	5,542	6,393	5,861	5,986	5,908	6,631	5,983	5,898	6,250	6,804	6,881
Operating Revenue	5,542	6,393	5,861	5,986	5,908	6,631	5,983	5,898	6,250	6,804	6,881
Total Cost of Revenue	1,004	-1,627	3,486	967	924	-2,045	895	710	3,787	7,027	4,143
Operating Cost of Revenue	1,004	-1,627	3,486	967	924	-2,045	895	710	3,787	7,027	4,143
Total Operating Expenses	4,137	6,885	1,099	3,885	3,955	7,656	3,868	4,092	1,254	-1,447	1,268
Depreciation Expense	811	853	1,022	1,053	1,059	1,055	1,097	1,073	1,132	1,332	1,166
Other Operating Expenses / (Income)	3,107	5,918	-1.00	2,754	2,757	6,513	2,695	2,910	36	-2,860	0.00
Other Special Charges / (Income)	219	114	78	78	139	88	76	109	86	81	102
Total Other Income / (Expense), net	-466	-670	-502	-528	-556	-561	-547	-527	-579	-673	-565
Interest Expense	682	926	715	812	795	729	734	792	770	732	803
Interest & Investment Income	154	197	137	202	156	109	117	181	94	128	122
Other Income / (Expense), net	62	59	76	82	83	59	70	84	97	-69	116
Income Tax Expense	-416	-458	39	82	-106	-215	39	20	-220	-119	20
Preferred Stock Dividends Declared	3.00	4.00	3.00	4.00	3.00	27	27	28	27	28	27
Basic Earnings per Share	$0.16	$0.44	$0.34	$0.24	$0.27	$0.31	$0.28	$0.24	$0.37	$0.29	$0.39
Weighted Average Basic Shares Outstanding	2.11B	2.06B	2.13B	2.14B	2.14B	2.14B	2.20B	2.20B	2.20B	2.20B	2.20B
Diluted Earnings per Share	$0.16	$0.43	$0.34	$0.24	$0.27	$0.30	$0.28	$0.24	$0.37	$0.29	$0.39
Weighted Average Diluted Shares Outstanding	2.14B	2.14B	2.14B	2.14B	2.14B	2.15B	2.20B	2.20B	2.28B	2.20B	2.28B
Weighted Average Basic & Diluted Shares Outstanding	5.49B	5.49B	2.88B	2.88B	2.88B	2.94B	2.94B	2.94B	2.94B	2.94B	2.94B
Cash Dividends to Common per Share	-	-	-	-	-	-	$0.03	$0.03	-	-	$0.05

This table details how cash moves in and out of Pacific Gas & Electric's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-	6,845	8,304	1,064	-98	-950	-320	640	-15	281	-241
Net Cash From Operating Activities	-	5,558	5,888	4,752	4,816	-19,130	2,262	3,721	4,747	8,035	8,716
Net Cash From Continuing Operating Activities	-	5,558	5,888	4,752	4,816	-19,130	2,262	3,721	4,747	8,035	8,716
Net Income / (Loss) Continuing Operations	-	2,809	1,660	-6,837	-7,642	-1,304	-88	1,814	2,256	2,512	2,703
Consolidated Net Income / (Loss)	-	2,809	1,660	-6,837	-7,642	-1,304	-88	1,814	2,256	2,512	2,703
Depreciation Expense	-	2,755	2,854	3,036	3,234	3,468	3,403	3,856	3,738	4,189	4,634
Non-Cash Adjustments To Reconcile Net Income	-	1,704	-82	13,620	735	-3,162	877	442	1,011	531	561
Changes in Operating Assets and Liabilities, net	-	4,528	1,666	1,485	8,489	-18,132	-1,930	-2,391	-2,258	803	818
Net Cash From Investing Activities	-	-44	1,314	-6,564	-6,378	-7,748	-6,905	-10,214	-9,162	-11,375	-12,316
Net Cash From Continuing Investing Activities	-	-44	1,314	-6,564	-6,378	-7,748	-6,905	-10,214	-9,162	-11,375	-12,316
Purchase of Property, Plant & Equipment	-	-	-	-	-6,313	-7,690	-7,689	-9,584	-9,714	-10,369	-11,787
Purchase of Investments	-	-	-	-	-1,032	-1,590	-1,702	-4,230	-2,252	-2,521	-2,735
Sale and/or Maturity of Investments	-	2,647	1,291	2,897	956	1,518	1,678	3,566	2,791	2,378	2,387
Other Investing Activities, net	-	-13	-23	-23	11	14	59	34	13	-863	-181
Net Cash From Financing Activities	-	1,331	1,102	2,876	1,464	25,928	4,323	7,133	4,400	3,621	3,359
Net Cash From Continuing Financing Activities	-	1,331	1,102	2,876	1,464	25,928	4,323	7,133	4,400	3,621	3,359
Repayment of Debt	-	-53	-840	-202	-471	-6,862	-11,242	-15,965	-15,813	-13,581	-6,428
Payment of Dividends	-	-921	1,021	-	-	-	-	0.00	0.00	-86	-317
Issuance of Debt	-	1,483	3,963	7,673	1,850	23,999	14,354	22,837	20,381	13,776	10,327
Issuance of Preferred Equity	-	-	-	-	-	-	-	0.00	0.00	1,579	0.00
Issuance of Common Equity	-	822	-	0.00	0.00	8,886	-	0.00	0.00	1,128	0.00
Other Financing Activities, net	-	0.00	-	45	85	-95	1,211	261	-168	805	-223
Cash Interest Paid	-	726	790	786	10	1,563	1,404	1,607	2,286	2,421	2,665

This table details how cash moves in and out of Pacific Gas & Electric's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-100	-30	88	532	-322	-17	1,193	-1,691	57	200	518
Net Cash From Operating Activities	1,810	477	2,261	711	3,131	1,932	2,848	1,057	2,851	1,960	2,430
Net Cash From Continuing Operating Activities	1,810	477	2,261	711	3,131	1,932	2,848	1,057	2,851	1,960	2,430
Net Income / (Loss) Continuing Operations	351	923	735	524	579	674	634	549	850	670	885
Consolidated Net Income / (Loss)	351	923	735	524	579	674	634	549	850	670	885
Depreciation Expense	811	853	1,022	1,053	1,059	1,055	1,097	1,073	1,132	1,332	1,166
Non-Cash Adjustments To Reconcile Net Income	478	-483	148	143	248	-8.00	10	250	176	-41	191
Changes in Operating Assets and Liabilities, net	170	-816	356	-1,009	1,245	211	1,107	-815	693	-1.00	188
Net Cash From Investing Activities	-2,291	-2,451	-2,930	-2,295	-2,994	-3,156	-3,264	-3,004	-2,982	-3,066	-3,302
Net Cash From Continuing Investing Activities	-2,291	-2,451	-2,930	-2,295	-2,994	-3,156	-3,264	-3,004	-2,982	-3,066	-3,302
Purchase of Property, Plant & Equipment	-2,421	-2,613	-2,638	-2,298	-2,605	-2,828	-2,635	-3,065	-2,931	-3,156	-3,356
Purchase of Investments	-500	-950	-834	-683	-428	-576	-986	-516	-648	-585	-434
Sale and/or Maturity of Investments	626	1,110	538	680	483	677	410	598	700	712	840
Other Investing Activities, net	4.00	2.00	4.00	6.00	-444	-429	-53	-21	-103	-37	-352
Net Cash From Financing Activities	381	1,944	757	2,116	-459	1,207	1,609	256	188	1,306	1,390
Net Cash From Continuing Financing Activities	381	1,944	757	2,116	-459	1,207	1,609	256	188	1,306	1,390
Repayment of Debt	-1,717	-543	-4,148	-1,236	-5,946	-2,251	-24	-1,326	-2,773	-2,305	-3,398
Payment of Dividends	-	-	-21	-22	-21	-22	-78	-55	-56	-151	-134
Issuance of Debt	2,122	2,550	4,717	3,070	5,151	838	1,735	1,753	3,065	3,774	4,947
Other Financing Activities, net	-24	-63	209	304	357	-65	-24	-91	-24	-84	-25
Cash Interest Paid	693	525	712	487	712	510	707	575	797	586	774

This table presents Pacific Gas & Electric's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	63,234	68,598	68,012	76,995	85,196	97,856	57,290	118,644	125,698	133,660	141,611
Total Current Assets	5,813	6,164	6,281	9,195	10,165	9,602	8,271	12,815	14,383	17,216	15,830
Cash & Equivalents	123	177	449	1,668	1,570	484	291	734	635	940	713
Restricted Cash	234	0.00	-	-	7.00	143	16	213	297	273	259
Accounts Receivable	1,392	2,053	2,104	3,834	6,987	3,055	1,784	4,269	3,542	1,810	1,719
Inventories, net	439	463	481	554	647	628	596	842	870	820	820
Other Current Assets	3,470	3,311	3,247	3,116	954	5,292	5,584	6,757	9,039	11,153	10,052
Plant, Property, & Equipment, net	46,723	50,581	53,789	58,557	61,635	66,136	3,479	76,208	82,321	88,229	96,348
Plant, Property & Equipment, gross	67,342	72,595	77,248	83,272	88,090	93,894	3,479	107,135	114,627	122,720	133,616
Accumulated Depreciation	20,619	22,014	23,459	24,715	26,455	27,758	-	30,946	33,093	35,305	37,270
Total Noncurrent Assets	10,698	11,853	7,942	9,243	13,396	22,118	45,540	29,621	28,994	28,215	29,433
Other Noncurrent Operating Assets	10,563	11,783	7,877	9,174	13,329	22,051	45,531	29,612	28,970	28,215	29,433
Total Liabilities & Shareholders' Equity	63,234	68,598	68,012	76,995	85,196	97,856	70,399	118,644	125,698	133,660	141,611
Total Liabilities	46,406	50,406	48,540	64,092	79,808	76,603	39,892	95,569	100,147	102,445	108,817
Total Current Liabilities	6,363	7,564	7,129	41,695	7,631	13,581	17,427	15,788	17,314	16,330	16,300
Short-Term Debt	1,179	2,216	1,376	21,994	0.00	3,575	6,665	4,323	5,347	3,669	3,496
Accounts Payable	1,812	1,928	2,163	2,439	4,317	2,982	3,534	3,666	3,160	3,496	4,282
Other Current Liabilities	3,166	3,204	2,812	17,034	3,310	6,526	6,747	7,173	7,869	8,405	7,758
Other Current Nonoperating Liabilities	206	216	217	228	4.00	498	481	626	679	760	764
Total Noncurrent Liabilities	40,043	42,842	41,411	22,397	72,177	63,022	22,465	79,781	83,092	86,115	92,517
Long-Term Debt	15,925	16,220	17,753	-	0.00	37,288	-	47,742	50,975	53,569	57,387
Asset Retirement Reserve & Litigation Obligation	9,964	11,489	13,578	14,533	15,124	16,836	17,297	23,542	24,956	24,861	25,627
Noncurrent Deferred & Payable Income Tax Liabilities	9,206	10,213	5,822	3,281	320	1,398	-	2,732	1,980	3,082	4,135
Noncurrent Employee Benefit Liabilities	2,622	2,641	2,128	2,119	1,884	2,444	860	231	476	808	549
Other Noncurrent Operating Liabilities	2,326	2,279	2,130	2,464	54,849	5,056	4,308	5,534	4,705	3,795	4,819
Total Equity & Noncontrolling Interests	16,828	18,192	19,472	12,903	5,388	21,253	21,223	23,075	25,292	30,401	32,792
Total Preferred & Common Equity	16,576	17,940	19,220	12,651	5,136	21,001	20,971	22,823	25,040	30,149	32,540
Preferred Stock	-	-	-	-	-	-	-	-	-	1,579	1,579
Total Common Equity	16,576	17,940	19,220	12,651	5,136	21,001	30,255	22,823	25,040	28,570	30,961
Common Stock	11,282	12,198	12,632	12,910	13,038	30,224	35,129	32,887	30,374	31,555	31,636
Retained Earnings	5,301	5,751	6,596	-250	-7,892	-9,196	-	-7,542	-5,321	-2,966	-650
Accumulated Other Comprehensive Income / (Loss)	-7.00	-9.00	-8.00	-9.00	-10	-27	-20	-5.00	-13	-19	-25
Noncontrolling Interest	252	252	252	252	252	252	252	252	252	252	252

This table presents Pacific Gas & Electric's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	120,705	123,009	125,698	127,645	130,788	132,319	133,660	135,443	136,384	138,249	141,953
Total Current Assets	12,681	12,809	14,383	15,231	16,739	17,547	17,216	16,893	15,161	14,393	14,799
Cash & Equivalents	805	589	635	658	1,315	895	940	2,023	494	404	1,131
Restricted Cash	257	373	297	362	237	335	273	383	221	368	359
Accounts Receivable	3,121	3,357	3,542	3,669	3,387	3,941	5,517	1,879	2,095	1,871	1,810
Inventories, net	888	888	870	821	823	812	820	789	786	763	831
Other Current Assets	7,610	7,602	9,039	9,721	10,977	11,564	9,666	9,686	9,540	8,644	8,740
Plant, Property, & Equipment, net	78,773	81,046	82,321	83,651	85,242	86,379	88,229	89,671	91,800	93,797	98,224
Plant, Property & Equipment, gross	110,972	112,883	114,627	116,585	118,852	120,158	246,254	124,891	128,081	130,353	136,073
Accumulated Depreciation	32,199	32,625	33,093	33,718	34,396	34,594	35,305	36,034	36,288	36,565	37,849
Total Noncurrent Assets	29,251	29,154	28,994	28,763	28,807	28,393	29,029	28,879	29,423	30,059	28,930
Other Noncurrent Operating Assets	29,242	29,145	28,970	28,739	28,806	28,392	28,214	28,878	29,423	30,059	28,930
Total Liabilities & Shareholders' Equity	120,705	123,009	125,698	127,645	130,788	132,319	133,660	135,443	136,384	138,249	141,953
Total Liabilities	96,690	98,371	100,147	101,391	103,504	104,649	103,259	103,692	104,939	106,010	108,451
Total Current Liabilities	13,202	15,172	17,314	15,453	18,543	16,883	16,330	17,822	16,185	15,295	12,345
Short-Term Debt	3,874	4,179	5,347	3,744	6,550	4,150	3,669	6,223	5,167	3,794	2,297
Accounts Payable	3,141	3,494	3,160	2,991	3,045	3,137	6,665	3,311	3,525	3,767	3,711
Other Current Liabilities	5,525	6,653	7,869	7,866	7,446	8,361	5,236	7,600	6,726	7,077	5,627
Other Current Nonoperating Liabilities	662	592	679	581	723	651	760	688	767	657	710
Total Noncurrent Liabilities	83,488	83,453	83,092	86,209	85,740	88,350	86,929	85,870	88,754	90,715	96,106
Long-Term Debt	50,230	50,343	50,975	53,415	52,664	54,748	53,569	52,659	54,004	55,531	60,146
Asset Retirement Reserve & Litigation Obligation	24,489	24,874	24,956	25,172	25,464	25,785	24,861	25,146	25,370	25,415	25,772
Noncurrent Deferred & Payable Income Tax Liabilities	2,422	2,181	1,980	2,225	2,484	2,670	3,082	3,251	3,550	3,777	4,425
Noncurrent Employee Benefit Liabilities	226	220	476	474	464	454	808	813	824	834	537
Other Noncurrent Operating Liabilities	6,121	5,835	4,705	4,923	4,664	4,693	4,605	3,997	5,003	5,153	5,226
Total Equity & Noncontrolling Interests	24,015	24,384	25,292	25,983	26,505	27,086	30,401	30,937	31,438	32,230	33,502
Total Preferred & Common Equity	23,763	24,132	25,040	25,731	26,253	26,834	30,149	30,685	31,186	31,978	33,250
Preferred Stock	-	-	-	-	-	-	1,579	1,579	1,579	1,579	1,579
Total Common Equity	23,763	24,132	25,040	25,731	26,253	26,834	28,570	29,106	29,607	30,399	31,671
Common Stock	31,628	31,041	30,374	30,356	30,379	30,402	31,555	31,532	31,560	31,588	31,605
Retained Earnings	-6,567	-6,219	-5,321	-4,611	-4,112	-3,558	-2,966	-2,414	-1,949	-1,181	97
Accumulated Other Comprehensive Income / (Loss)	0.00	-2.00	-13	-14	-14	-10	-19	-12	-4.00	-8.00	-31
Noncontrolling Interest	252	252	252	252	252	252	252	252	252	252	252

This table displays calculated financial ratios and metrics derived from Pacific Gas & Electric's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.50%	4.95%	-3.01%	-2.19%	2.21%	7.82%	11.77%	5.03%	6.83%	5.29%	2.25%
EBITDA Growth	-14.44%	18.55%	17.72%	-205.53%	-11.47%	153.87%	52.98%	6.19%	9.76%	33.93%	6.90%
EBIT Growth	-35.49%	39.57%	34.88%	-403.24%	-9.85%	102.74%	734.77%	-4.21%	31.91%	61.71%	3.61%
NOPAT Growth	-29.79%	28.71%	10.96%	-405.69%	-4.06%	117.39%	-118.03%	3,260.15%	23.14%	-43.80%	9.35%
Net Income Growth	-69.23%	58.45%	17.98%	-511.87%	-11.77%	82.94%	93.25%	2,161.36%	24.37%	11.35%	7.60%
EPS Growth	-70.75%	55.31%	15.47%	-512.77%	-9.43%	92.76%	95.24%	1,780.00%	25.00%	9.52%	2.61%
Operating Cash Flow Growth	0.00%	0.00%	5.94%	-19.29%	1.35%	-497.22%	111.82%	64.50%	27.57%	69.26%	8.48%
Free Cash Flow Firm Growth	196.62%	-109.04%	158.72%	-461.69%	1,302.14%	-352.23%	165.90%	-216.13%	104.18%	-184.60%	-118.14%
Invested Capital Growth	-19.57%	8.54%	4.64%	-12.80%	-88.60%	1,524.82%	-60.90%	208.70%	9.09%	7.82%	6.32%
Revenue Q/Q Growth	-0.83%	3.19%	-3.45%	-0.07%	3.98%	0.03%	2.47%	0.58%	7.58%	0.99%	0.70%
EBITDA Q/Q Growth	-2.80%	22.27%	-5.10%	-273.43%	42.13%	386.03%	1.74%	-5.51%	14.15%	0.98%	3.83%
EBIT Q/Q Growth	-7.51%	69.13%	-10.87%	-1,593.72%	33.10%	105.96%	5.86%	-16.25%	45.19%	-2.36%	1.57%
NOPAT Q/Q Growth	-4.57%	49.27%	-35.28%	-4,027.13%	33.94%	158.34%	77.71%	65.81%	-88.25%	-11.08%	0.37%
Net Income Q/Q Growth	-61.74%	34.64%	-18.71%	-4,658.00%	29.88%	74.54%	75.56%	2.31%	21.95%	-9.02%	-0.15%
EPS Q/Q Growth	-63.24%	66.47%	-26.54%	-5,196.15%	30.72%	89.48%	-102.84%	-2.33%	22.09%	-10.16%	-0.84%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-16.03%	-8.01%	0.25%	-3.57%	5.60%	27.39%	-10.08%	22.11%	0.32%
Free Cash Flow Firm Q/Q Growth	822.01%	61.37%	-96.13%	-62.58%	2.41%	-2.54%	837.75%	-703.06%	-97.32%	12.08%	-105.76%
Invested Capital Q/Q Growth	-22.86%	-22.67%	2.48%	-13.70%	-36.69%	4.26%	-61.86%	2.22%	3.59%	2.34%	2.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.48%	69.55%	33.61%	30.47%	77.65%	31.88%	29.36%	32.36%	81.88%	85.84%	39.58%
EBITDA Margin	25.17%	28.43%	34.51%	-37.23%	-40.61%	20.29%	27.77%	28.08%	28.85%	36.69%	38.36%
Operating Margin	8.96%	11.77%	16.95%	-57.88%	-58.93%	9.50%	9.12%	8.47%	11.53%	18.29%	19.05%
EBIT Margin	9.65%	12.84%	17.85%	-55.35%	-59.49%	1.51%	11.28%	10.29%	12.71%	19.52%	19.78%
Profit (Net Income) Margin	5.28%	7.96%	9.69%	-40.80%	-44.61%	-7.06%	-0.43%	8.37%	9.74%	10.30%	10.84%
Tax Burden Percent	103.14%	96.24%	76.46%	67.50%	69.21%	138.43%	-11.76%	381.09%	322.75%	108.65%	111.56%
Interest Burden Percent	52.98%	64.46%	70.97%	109.20%	108.36%	-337.63%	32.12%	21.34%	23.75%	48.58%	49.14%
Effective Tax Rate	-3.14%	3.76%	23.54%	0.00%	0.00%	0.00%	111.76%	-281.09%	-222.75%	-8.65%	-11.56%
Return on Invested Capital (ROIC)	4.10%	5.68%	5.92%	-18.91%	-37.91%	3.73%	-0.51%	14.13%	11.02%	5.71%	5.99%
ROIC Less NNEP Spread (ROIC-NNEP)	1.00%	2.33%	2.92%	-19.15%	-43.99%	-9.20%	0.10%	-4.81%	-0.76%	1.62%	1.43%
Return on Net Nonoperating Assets (RNNOA)	1.31%	2.35%	2.89%	-23.33%	-45.65%	-13.52%	0.10%	-5.94%	-1.69%	3.31%	2.57%
Return on Equity (ROE)	5.41%	8.04%	8.81%	-42.24%	-83.56%	-9.79%	-0.41%	8.19%	9.33%	9.02%	8.55%
Cash Return on Invested Capital (CROIC)	25.80%	-2.51%	1.38%	-5.23%	121.14%	-173.08%	87.05%	-87.99%	2.33%	-1.81%	-0.14%
Operating Return on Assets (OROA)	2.67%	3.44%	4.48%	-12.79%	-12.57%	0.30%	3.00%	2.54%	2.41%	3.67%	3.58%
Return on Assets (ROA)	1.46%	2.13%	2.43%	-9.43%	-9.42%	-1.42%	-0.11%	2.06%	1.85%	1.94%	1.96%
Return on Common Equity (ROCE)	2.73%	7.92%	8.70%	-41.58%	-81.26%	-9.60%	-0.50%	9.81%	9.23%	8.68%	8.06%
Return on Equity Simple (ROE_SIMPLE)	5.36%	7.84%	8.64%	-54.04%	-148.79%	-6.21%	-0.42%	7.95%	9.01%	8.33%	0.00%
Net Operating Profit after Tax (NOPAT)	1,555	2,002	2,221	-6,790	-7,066	1,229	-222	7,001	8,621	4,845	5,298
NOPAT Margin	9.24%	11.33%	12.96%	-40.52%	-41.25%	6.65%	-1.07%	32.29%	37.22%	19.87%	21.25%
Net Nonoperating Expense Percent (NNEP)	3.11%	3.36%	3.00%	0.24%	6.07%	12.93%	-0.61%	18.94%	11.78%	4.10%	4.56%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	9.32%	10.56%	5.53%	5.66%
Cost of Revenue to Revenue	75.52%	30.45%	66.39%	69.53%	22.35%	68.13%	70.64%	67.64%	18.12%	14.16%	60.42%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.52%	57.77%	16.66%	88.35%	136.58%	22.37%	20.24%	23.88%	70.35%	67.56%	20.54%
Earnings before Interest and Taxes (EBIT)	1,625	2,268	3,059	-9,276	-10,190	279	2,329	2,231	2,943	4,759	4,931
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4,237	5,023	5,913	-6,240	-6,956	3,747	5,732	6,087	6,681	8,948	9,565
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.29	2.54	1.81	1.47	1.68	1.33	1.28	1.94	2.06	2.03	1.53
Price to Tangible Book Value (P/TBV)	2.29	2.54	1.81	1.47	1.68	1.33	1.28	1.94	2.06	2.03	1.53
Price to Revenue (P/Rev)	2.25	2.58	2.03	1.11	0.50	1.51	1.88	2.04	2.23	2.38	1.89
Price to Earnings (P/E)	43.42	32.77	21.17	0.00	0.00	0.00	0.00	24.57	23.06	23.48	18.22
Dividend Yield	3.62%	3.25%	4.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	0.27%	0.78%
Earnings Yield	2.30%	3.05%	4.72%	0.00%	0.00%	0.00%	0.00%	4.07%	4.34%	4.26%	5.49%
Enterprise Value to Invested Capital (EV/IC)	1.63	1.75	1.40	1.17	1.91	1.10	1.88	1.28	1.32	1.32	1.20
Enterprise Value to Revenue (EV/Rev)	3.26	3.63	3.14	2.34	0.43	3.71	2.20	4.41	4.63	4.76	4.37
Enterprise Value to EBITDA (EV/EBITDA)	12.97	12.77	9.10	0.00	0.00	18.27	7.93	15.71	16.07	12.96	11.39
Enterprise Value to EBIT (EV/EBIT)	33.82	28.29	17.58	0.00	0.00	245.38	19.52	42.85	36.47	24.37	22.10
Enterprise Value to NOPAT (EV/NOPAT)	35.33	32.05	24.21	0.00	0.00	55.73	0.00	13.66	12.45	23.94	20.57
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	11.54	9.13	8.24	1.51	0.00	20.09	25.69	22.61	14.43	12.50
Enterprise Value to Free Cash Flow (EV/FCFF)	5.62	0.00	103.58	0.00	0.32	0.00	1.21	0.00	58.99	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.02	1.01	0.98	1.70	0.00	1.92	0.31	2.26	2.23	1.88	1.86
Long-Term Debt to Equity	0.95	0.89	0.91	0.00	0.00	1.75	0.00	2.07	2.02	1.76	1.75
Financial Leverage	1.31	1.01	0.99	1.22	1.04	1.47	1.03	1.24	2.23	2.05	1.80
Leverage Ratio	3.71	3.76	3.63	4.48	8.87	6.87	3.65	3.97	5.05	4.66	4.36
Compound Leverage Factor	1.97	2.43	2.57	4.89	9.61	-23.20	1.17	0.85	1.20	2.26	2.14
Debt to Total Capital	50.41%	50.33%	49.56%	63.03%	0.00%	65.79%	23.90%	69.29%	69.01%	65.31%	64.99%
Short-Term Debt to Total Capital	3.47%	6.05%	3.56%	63.03%	0.00%	5.76%	23.90%	5.75%	6.55%	4.19%	3.73%
Long-Term Debt to Total Capital	46.93%	44.28%	45.99%	0.00%	0.00%	60.03%	0.00%	63.54%	62.46%	61.13%	61.26%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.80%	1.69%
Noncontrolling Interests to Total Capital	0.74%	0.69%	0.65%	0.72%	4.68%	0.41%	0.90%	0.34%	0.31%	0.29%	0.27%
Common Equity to Total Capital	48.85%	48.98%	49.79%	36.25%	95.32%	33.81%	108.49%	30.37%	30.68%	32.60%	33.05%
Debt to EBITDA	4.04	3.67	3.24	-3.52	0.00	10.91	1.16	8.55	8.43	6.40	6.37
Net Debt to EBITDA	3.95	3.64	3.16	-3.26	0.00	10.74	1.11	8.40	8.29	6.26	6.26
Long-Term Debt to EBITDA	3.76	3.23	3.00	0.00	0.00	9.95	0.00	7.84	7.63	5.99	6.00
Debt to NOPAT	11.00	9.21	8.61	-3.24	0.00	33.26	-30.09	7.44	6.53	11.82	11.49
Net Debt to NOPAT	10.77	9.12	8.41	-2.99	0.00	32.75	-28.70	7.30	6.43	11.56	11.31
Long-Term Debt to NOPAT	10.24	8.10	7.99	0.00	0.00	30.35	0.00	6.82	5.91	11.06	10.83
Altman Z-Score	0.95	1.00	0.95	-0.52	-0.22	0.24	0.89	0.40	0.48	0.61	0.54
Noncontrolling Interest Sharing Ratio	49.51%	1.44%	1.34%	1.56%	2.76%	1.89%	-20.67%	-19.82%	1.04%	3.74%	5.79%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.91	0.81	0.88	0.22	1.33	0.71	0.47	0.81	0.83	1.05	0.97
Quick Ratio	0.24	0.29	0.36	0.13	1.12	0.26	0.12	0.32	0.24	0.40	0.15
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	9,777	-884	519	-1,878	22,576	-56,944	37,528	-43,581	1,820	-1,539	-124
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	76.29%	-248.76%	32.59%	38.83%	48.87%	77.49%	73.95%
Free Cash Flow to Firm to Interest Expense	12.65	-1.07	0.58	-2.02	24.17	-45.19	23.44	-22.73	0.64	-0.50	-0.04
Operating Cash Flow to Interest Expense	0.00	6.70	6.63	5.12	5.16	-15.18	1.41	1.94	1.67	2.63	2.88
Operating Cash Flow Less CapEx to Interest Expense	0.00	6.70	6.63	12.13	-1.60	-21.29	-2.92	-3.06	-1.74	-0.77	-1.01
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.28	0.27	0.25	0.23	0.21	0.20	0.27	0.25	0.19	0.19	0.18
Accounts Receivable Turnover	19.03	10.26	8.24	5.64	3.17	3.68	8.53	7.16	5.93	5.38	14.13
Inventory Turnover	27.79	11.93	24.10	22.52	6.38	19.74	23.83	20.40	4.90	4.09	18.37
Fixed Asset Turnover	0.37	0.36	0.33	0.30	0.29	0.29	0.59	0.54	0.29	0.29	0.27
Accounts Payable Turnover	11.11	2.88	5.56	5.06	1.13	3.45	4.48	4.07	1.23	0.70	3.87
Days Sales Outstanding (DSO)	19.18	35.59	44.28	64.66	115.29	99.23	42.78	50.95	61.55	67.80	25.83
Days Inventory Outstanding (DIO)	13.14	30.60	15.14	16.21	57.24	18.49	15.32	17.90	74.44	89.32	19.87
Days Payable Outstanding (DPO)	32.85	126.87	65.63	72.08	322.01	105.87	81.56	89.60	296.82	519.28	94.22
Cash Conversion Cycle (CCC)	-0.53	-60.68	-6.21	8.79	-149.47	11.85	-23.45	-20.75	-160.83	-362.16	-48.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	33,781	36,667	38,369	33,457	3,815	61,987	24,237	74,819	81,620	88,004	91,202
Invested Capital Turnover	0.44	0.50	0.46	0.47	0.92	0.56	0.48	0.44	0.30	0.29	0.28
Increase / (Decrease) in Invested Capital	-8,222	2,886	1,702	-4,912	-29,642	58,172	-37,750	50,582	6,801	6,384	5,422
Enterprise Value (EV)	54,951	64,160	53,785	39,143	7,286	68,461	45,454	95,602	107,338	115,972	108,988
Market Capitalization	37,952	45,649	34,853	18,565	8,611	27,973	38,844	44,232	51,696	58,112	47,246
Book Value per Share	$21.96	$23.30	$24.68	$16.16	$6.47	$9.34	$9.44	$8.36	$8.71	$9.92	$10.53
Tangible Book Value per Share	$21.96	$23.30	$24.68	$16.16	$6.47	$9.34	$9.44	$8.36	$8.71	$9.92	$10.53
Total Capital	33,932	36,628	38,601	34,897	5,388	62,116	27,888	75,140	81,614	87,643	93,675
Total Debt	17,104	18,436	19,129	21,994	0.00	40,863	6,665	52,065	56,322	57,242	60,883
Total Long-Term Debt	15,925	16,220	17,753	0.00	0.00	37,288	0.00	47,742	50,975	53,573	57,387
Net Debt	16,747	18,259	18,680	20,326	-1,577	40,236	6,358	51,118	55,390	56,029	59,911
Capital Expenditures (CapEx)	0.00	0.00	0.00	-6,514	6,313	7,690	6,940	9,584	9,714	10,369	11,787
Debt-free, Cash-free Net Working Capital (DFCFNWC)	272	639	79	-12,174	957	-1,031	-2,798	403	1,484	3,342	2,054
Debt-free Net Working Capital (DFNWC)	629	816	528	-10,506	2,534	-404	-2,491	1,350	2,416	4,555	3,026
Net Working Capital (NWC)	-550	-1,400	-848	-32,500	2,534	-3,979	-9,156	-2,973	-2,931	886	-470
Net Nonoperating Expense (NNE)	667	595	561	47	576	2,533	-134	5,187	6,365	2,333	2,595
Net Nonoperating Obligations (NNO)	16,953	18,475	18,897	20,554	-1,573	40,734	3,014	51,744	56,328	57,603	58,410
Total Depreciation and Amortization (D&A)	2,612	2,755	2,854	3,036	3,234	3,468	3,403	3,856	3,738	4,189	4,634
Debt-free, Cash-free Net Working Capital to Revenue	1.62%	3.62%	0.46%	-72.64%	5.59%	-5.58%	-13.55%	1.86%	6.41%	13.70%	8.24%
Debt-free Net Working Capital to Revenue	3.74%	4.62%	3.08%	-62.69%	14.79%	-2.19%	-12.07%	6.23%	10.43%	18.68%	12.14%
Net Working Capital to Revenue	-3.27%	-7.92%	-4.95%	-193.93%	14.79%	-21.54%	-44.36%	-13.71%	-12.65%	3.63%	-1.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.62	$0.00	$3.21	($13.25)	($14.50)	($1.05)	($0.05)	$0.91	$1.09	$1.16	$1.18
Adjusted Weighted Average Basic Shares Outstanding	968M	0.00	512M	517M	528M	1.26B	1.99B	1.99B	2.06B	2.14B	2.20B
Adjusted Diluted Earnings per Share	$3.58	$0.00	$3.21	($13.25)	($14.50)	($1.05)	($0.05)	$0.84	$1.05	$1.15	$1.18
Adjusted Weighted Average Diluted Shares Outstanding	974M	0.00	513M	517M	528M	1.26B	1.99B	2.13B	2.14B	2.15B	2.20B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$3.21	($13.25)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	757.21M	0.00	779.34M	791.94M	793.63M	2.25B	5.19B	5.20B	5.49B	2.94B	2.94B
Normalized Net Operating Profit after Tax (NOPAT)	1,056	2,002	2,221	-6,790	-7,066	1,518	1,680	1,620	2,267	3,389	3,571
Normalized NOPAT Margin	6.27%	11.33%	12.96%	-40.52%	-41.25%	8.22%	8.14%	7.47%	9.79%	13.90%	14.32%
Pre Tax Income Margin	5.12%	8.28%	12.67%	-60.44%	-64.46%	-5.10%	3.62%	2.20%	3.02%	9.48%	9.72%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.10	2.74	3.44	-9.98	-10.91	0.22	1.45	1.16	1.03	1.56	1.63
NOPAT to Interest Expense	2.01	2.41	2.50	-7.31	-7.57	0.98	-0.14	3.65	3.02	1.59	1.75
EBIT Less CapEx to Interest Expense	2.10	2.74	3.44	-2.97	-17.67	-5.88	-2.88	-3.84	-2.38	-1.84	-2.26
NOPAT Less CapEx to Interest Expense	2.01	2.41	2.50	-0.30	-14.32	-5.13	-4.47	-1.35	-0.38	-1.81	-2.14
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	65.46%	-61.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.42%	11.73%
Augmented Payout Ratio	0.00%	65.46%	-61.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.42%	11.73%

This table displays calculated financial ratios and metrics derived from Pacific Gas & Electric's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2,940,086,353.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2,940,086,353.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.29
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.74%	19.05%	-1.26%	13.16%	6.60%	3.72%	2.08%	-1.47%	5.79%	2.61%	15.01%
EBITDA Growth	-30.99%	67.92%	32.55%	44.61%	70.41%	4.25%	0.55%	-0.71%	12.30%	16.54%	15.29%
EBIT Growth	-45.14%	329.50%	89.36%	112.59%	140.17%	-9.63%	-4.59%	-2.96%	17.45%	7.04%	22.95%
NOPAT Growth	-69.51%	2,375.73%	-24.56%	-64.55%	348.74%	-33.52%	-5.15%	7.84%	29.50%	-0.63%	25.08%
Net Income Growth	-23.53%	78.53%	28.50%	27.80%	64.96%	-26.98%	-13.74%	4.77%	46.80%	-0.59%	39.59%
EPS Growth	-23.81%	79.17%	25.93%	26.32%	68.75%	-30.23%	-17.65%	0.00%	37.04%	-3.33%	39.29%
Operating Cash Flow Growth	68.69%	-52.73%	90.80%	-44.24%	72.98%	305.03%	25.96%	48.66%	-8.94%	1.45%	-14.68%
Free Cash Flow Firm Growth	39.14%	90.99%	-233.06%	-58.62%	-11.80%	-7.43%	94.88%	72.46%	74.90%	-47.76%	-88.29%
Invested Capital Growth	7.64%	9.09%	179.11%	10.23%	9.14%	7.82%	4.59%	3.48%	3.63%	6.32%	7.43%
Revenue Q/Q Growth	4.76%	15.36%	-8.32%	2.13%	-1.30%	12.24%	-9.77%	-1.42%	5.97%	8.86%	1.13%
EBITDA Q/Q Growth	-18.80%	60.68%	15.97%	-4.42%	-4.32%	-1.70%	11.86%	-5.61%	8.21%	2.01%	10.66%
EBIT Q/Q Growth	-19.06%	157.88%	13.23%	-10.06%	-8.55%	-2.97%	19.56%	-8.53%	10.68%	-11.56%	37.32%
NOPAT Q/Q Growth	-89.85%	702.61%	-46.22%	-19.08%	28.46%	18.91%	-23.27%	-7.99%	54.25%	-8.76%	-3.42%
Net Income Q/Q Growth	-14.39%	162.96%	-20.37%	-28.71%	10.50%	16.41%	-5.93%	-13.41%	54.83%	-21.18%	32.09%
EPS Q/Q Growth	-15.79%	168.75%	-20.93%	-29.41%	12.50%	11.11%	-6.67%	-14.29%	54.17%	-21.62%	34.48%
Operating Cash Flow Q/Q Growth	41.96%	-73.65%	374.00%	-68.55%	340.37%	-38.29%	47.41%	-62.89%	169.73%	-31.25%	23.98%
Free Cash Flow Firm Q/Q Growth	-20.90%	14.39%	-1,044.09%	86.61%	14.78%	17.73%	45.51%	27.91%	22.33%	-163.86%	-27.45%
Invested Capital Q/Q Growth	1.38%	3.59%	1.66%	3.25%	0.37%	2.34%	-1.38%	2.14%	0.52%	2.35%	2.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	81.88%	125.45%	85.50%	37.79%	84.36%	130.84%	40.82%	87.96%	39.41%	-3.28%	39.79%
EBITDA Margin	22.99%	32.02%	40.51%	37.91%	36.75%	32.18%	39.90%	38.20%	39.01%	36.55%	39.99%
Operating Margin	7.24%	17.75%	21.77%	18.94%	17.42%	15.38%	20.39%	18.58%	19.34%	17.99%	21.36%
EBIT Margin	8.35%	18.68%	23.07%	20.31%	18.82%	16.27%	21.56%	20.01%	20.90%	16.98%	23.05%
Profit (Net Income) Margin	6.33%	14.44%	12.54%	8.75%	9.80%	10.16%	10.60%	9.31%	13.60%	9.85%	12.86%
Tax Burden Percent	-540.00%	198.49%	94.96%	86.47%	122.41%	146.84%	94.21%	96.49%	134.92%	121.60%	97.79%
Interest Burden Percent	-14.04%	38.94%	57.25%	49.84%	42.54%	42.54%	52.17%	48.22%	48.24%	47.71%	57.06%
Effective Tax Rate	0.00%	-98.49%	5.04%	13.53%	-22.41%	-46.84%	5.79%	3.51%	-34.92%	-21.60%	2.21%
Return on Invested Capital (ROIC)	1.44%	10.43%	8.47%	4.77%	6.25%	6.49%	5.55%	5.02%	7.38%	6.16%	6.00%
ROIC Less NNEP Spread (ROIC-NNEP)	1.57%	7.97%	6.96%	3.96%	5.05%	5.05%	4.63%	4.15%	6.03%	4.73%	5.04%
Return on Net Nonoperating Assets (RNNOA)	3.52%	17.82%	8.86%	8.85%	11.11%	10.33%	9.18%	8.33%	11.77%	8.51%	9.04%
Return on Equity (ROE)	4.95%	28.25%	17.33%	13.61%	17.36%	16.82%	14.73%	13.36%	19.16%	14.67%	15.04%
Cash Return on Invested Capital (CROIC)	89.21%	2.33%	-83.09%	-2.86%	-2.13%	-1.81%	1.17%	2.20%	2.46%	-0.14%	-0.99%
Operating Return on Assets (OROA)	1.50%	3.54%	5.42%	3.84%	3.56%	3.06%	4.02%	3.66%	3.82%	3.08%	4.29%
Return on Assets (ROA)	1.14%	2.74%	2.94%	1.66%	1.85%	1.91%	1.97%	1.70%	2.49%	1.78%	2.40%
Return on Common Equity (ROCE)	4.90%	27.96%	19.60%	13.48%	17.19%	16.19%	14.19%	12.88%	18.48%	13.82%	14.18%
Return on Equity Simple (ROE_SIMPLE)	7.67%	0.00%	9.40%	9.65%	10.29%	0.00%	7.86%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	281	2,253	1,212	981	1,260	1,498	1,149	1,057	1,631	1,488	1,438
NOPAT Margin	5.07%	35.24%	20.67%	16.38%	21.32%	22.59%	19.21%	17.93%	26.10%	21.87%	20.89%
Net Nonoperating Expense Percent (NNEP)	-0.13%	2.46%	1.51%	0.81%	1.20%	1.45%	0.91%	0.87%	1.35%	1.44%	0.96%
Return On Investment Capital (ROIC_SIMPLE)	-	2.76%	-	-	-	1.71%	1.28%	1.17%	1.78%	1.59%	1.50%
Cost of Revenue to Revenue	18.12%	-25.45%	14.50%	62.21%	15.64%	-30.84%	59.18%	12.04%	60.59%	103.28%	60.21%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	74.65%	107.70%	63.73%	18.84%	66.94%	115.46%	20.42%	69.38%	20.06%	-21.27%	18.43%
Earnings before Interest and Taxes (EBIT)	463	1,194	1,352	1,216	1,112	1,079	1,290	1,180	1,306	1,155	1,586
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,274	2,047	2,374	2,269	2,171	2,134	2,387	2,253	2,438	2,487	2,752
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.89	2.06	1.87	1.91	2.12	2.03	1.73	1.38	1.46	1.53	1.63
Price to Tangible Book Value (P/TBV)	1.89	2.06	1.87	1.91	2.12	2.03	1.73	1.38	1.46	1.53	1.63
Price to Revenue (P/Rev)	2.12	2.23	2.09	2.11	2.36	2.38	2.06	1.68	1.79	1.89	2.00
Price to Earnings (P/E)	24.84	23.06	20.03	19.96	20.72	23.48	21.46	17.43	17.06	18.22	18.16
Dividend Yield	0.00%	0.06%	0.12%	0.17%	0.20%	0.27%	0.41%	0.61%	0.66%	0.78%	0.85%
Earnings Yield	4.03%	4.34%	4.99%	5.01%	4.83%	4.26%	4.66%	5.74%	5.86%	5.49%	5.51%
Enterprise Value to Invested Capital (EV/IC)	1.26	1.32	1.26	1.26	1.34	1.32	1.25	1.14	1.18	1.20	1.23
Enterprise Value to Revenue (EV/Rev)	4.62	4.63	4.53	4.55	4.76	4.76	4.44	4.15	4.23	4.37	4.43
Enterprise Value to EBITDA (EV/EBITDA)	16.98	16.07	14.39	13.58	12.96	12.96	12.14	11.32	11.37	11.39	11.52
Enterprise Value to EBIT (EV/EBIT)	49.04	36.47	29.20	25.61	23.56	24.37	23.15	21.73	21.57	22.10	21.89
Enterprise Value to NOPAT (EV/NOPAT)	1.35	12.45	16.27	19.27	21.08	23.94	22.65	20.71	19.84	20.57	20.58
Enterprise Value to Operating Cash Flow (EV/OCF)	18.83	22.61	17.96	20.57	17.45	14.43	12.61	11.29	12.05	12.50	13.79
Enterprise Value to Free Cash Flow (EV/FCFF)	1.47	58.99	0.00	0.00	0.00	0.00	109.92	52.91	48.57	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.24	2.23	2.20	2.23	2.17	1.88	1.90	1.88	1.84	1.86	1.86
Long-Term Debt to Equity	2.06	2.02	2.06	1.99	2.02	1.76	1.70	1.72	1.72	1.75	1.80
Financial Leverage	2.24	2.23	1.27	2.23	2.20	2.05	1.98	2.01	1.95	1.80	1.79
Leverage Ratio	5.12	5.05	3.97	4.98	4.96	4.66	4.62	4.61	4.56	4.36	4.30
Compound Leverage Factor	-0.72	1.97	2.27	2.48	2.11	1.98	2.41	2.22	2.20	2.08	2.46
Debt to Total Capital	69.10%	69.01%	68.75%	69.08%	68.50%	65.31%	65.56%	65.30%	64.80%	64.99%	65.08%
Short-Term Debt to Total Capital	5.30%	6.55%	4.50%	7.64%	4.83%	4.19%	6.93%	5.70%	4.14%	3.73%	2.39%
Long-Term Debt to Total Capital	63.80%	62.46%	64.25%	61.44%	63.67%	61.13%	58.63%	59.60%	60.66%	61.26%	62.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	1.80%	1.76%	1.74%	1.72%	1.69%	1.65%
Noncontrolling Interests to Total Capital	0.32%	0.31%	0.30%	0.29%	0.29%	0.29%	0.28%	0.28%	0.28%	0.27%	0.26%
Common Equity to Total Capital	30.58%	30.68%	30.95%	30.63%	31.21%	32.60%	32.40%	32.67%	33.20%	33.05%	33.01%
Debt to EBITDA	9.32	8.43	7.87	7.44	6.65	6.40	6.57	6.62	6.44	6.37	6.29
Net Debt to EBITDA	9.15	8.29	7.73	7.24	6.51	6.26	6.30	6.54	6.36	6.26	6.14
Long-Term Debt to EBITDA	8.60	7.63	7.35	6.61	6.18	5.99	5.88	6.04	6.03	6.00	6.06
Debt to NOPAT	0.74	6.53	8.89	10.55	10.81	11.82	12.26	12.10	11.24	11.49	11.23
Net Debt to NOPAT	0.73	6.43	8.74	10.27	10.58	11.56	11.76	11.95	11.09	11.31	10.96
Long-Term Debt to NOPAT	0.69	5.91	8.31	9.38	10.05	11.06	10.97	11.04	10.52	10.83	10.81
Altman Z-Score	0.37	0.44	0.45	0.44	0.51	0.52	0.47	0.41	0.44	0.45	0.53
Noncontrolling Interest Sharing Ratio	1.08%	1.04%	-13.05%	1.00%	0.98%	3.74%	3.66%	3.59%	3.51%	5.79%	5.68%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.84	0.83	0.99	0.90	1.04	1.05	0.95	0.94	0.94	0.97	1.20
Quick Ratio	0.26	0.24	0.28	0.25	0.29	0.40	0.22	0.16	0.15	0.15	0.24
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5,312	-4,548	-52,034	-6,969	-5,939	-4,886	-2,663	-1,920	-1,491	-3,934	-5,013
Operating Cash Flow to CapEx	74.76%	18.25%	85.71%	30.94%	120.19%	68.32%	108.08%	34.49%	97.27%	62.10%	72.41%
Free Cash Flow to Firm to Interest Expense	-7.79	-4.91	-72.78	-8.58	-7.47	-6.70	-3.63	-2.42	-1.94	-5.37	-6.24
Operating Cash Flow to Interest Expense	2.65	0.52	3.16	0.88	3.94	2.65	3.88	1.33	3.70	2.68	3.03
Operating Cash Flow Less CapEx to Interest Expense	-0.90	-2.31	-0.53	-1.95	0.66	-1.23	0.29	-2.54	-0.10	-1.63	-1.15
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.19	0.23	0.19	0.19	0.19	0.19	0.18	0.18	0.18	0.19
Accounts Receivable Turnover	5.16	5.93	9.14	7.31	6.62	5.38	8.83	8.91	8.52	14.13	14.01
Inventory Turnover	0.00	4.90	18.76	18.56	18.58	4.09	4.36	4.04	7.76	18.37	22.61
Fixed Asset Turnover	0.28	0.29	0.53	0.29	0.29	0.29	0.28	0.28	0.27	0.27	0.28
Accounts Payable Turnover	0.00	1.23	5.12	5.13	4.76	0.70	1.11	0.99	1.77	3.87	5.22
Days Sales Outstanding (DSO)	70.73	61.55	39.92	49.94	55.16	67.80	41.31	40.97	42.84	25.83	26.06
Days Inventory Outstanding (DIO)	0.00	74.44	19.46	19.67	19.64	89.32	83.76	90.32	47.01	19.87	16.14
Days Payable Outstanding (DPO)	0.00	296.82	71.27	71.11	76.62	519.28	327.85	368.82	206.08	94.22	69.98
Cash Conversion Cycle (CCC)	70.73	-160.83	-11.89	-1.50	-1.82	-362.16	-202.78	-237.52	-116.23	-48.53	-27.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	78,790	81,620	82,974	85,669	85,989	88,004	86,786	88,646	89,111	91,202	93,237
Invested Capital Turnover	0.28	0.30	0.41	0.29	0.29	0.29	0.29	0.28	0.28	0.28	0.29
Increase / (Decrease) in Invested Capital	5,593	6,801	53,246	7,950	7,199	6,384	3,812	2,977	3,122	5,422	6,451
Enterprise Value (EV)	99,412	107,338	104,559	108,186	114,849	115,972	108,746	101,271	104,724	108,988	114,441
Market Capitalization	45,600	51,696	48,168	50,272	56,929	58,112	50,435	40,981	44,335	47,246	51,657
Book Value per Share	$8.52	$8.71	$12.06	$9.12	$9.32	$9.92	$9.91	$10.07	$10.34	$10.53	$10.77
Tangible Book Value per Share	$8.52	$8.71	$12.06	$9.12	$9.32	$9.92	$9.91	$10.07	$10.34	$10.53	$10.77
Total Capital	78,906	81,614	83,142	85,719	85,984	87,643	89,823	90,612	91,560	93,675	95,945
Total Debt	54,522	56,322	57,159	59,214	58,898	57,242	58,886	59,174	59,330	60,883	62,443
Total Long-Term Debt	50,343	50,975	53,415	52,664	54,748	53,573	52,663	54,007	55,536	57,387	60,146
Net Debt	53,560	55,390	56,139	57,662	57,668	56,029	56,480	58,459	58,558	59,911	60,953
Capital Expenditures (CapEx)	2,421	2,613	2,638	2,298	2,605	2,828	2,635	3,065	2,931	3,156	3,356
Debt-free, Cash-free Net Working Capital (DFCFNWC)	854	1,484	2,502	3,194	3,584	3,342	2,888	3,428	2,120	2,054	3,261
Debt-free Net Working Capital (DFNWC)	1,816	2,416	3,522	4,746	4,814	4,555	5,294	4,143	2,892	3,026	4,751
Net Working Capital (NWC)	-2,363	-2,931	-222	-1,804	664	886	-929	-1,024	-902	-470	2,454
Net Nonoperating Expense (NNE)	-70	1,330	477	457	681	824	515	508	781	818	553
Net Nonoperating Obligations (NNO)	54,406	56,328	56,991	59,164	58,903	57,603	55,849	57,208	56,881	58,410	59,735
Total Depreciation and Amortization (D&A)	811	853	1,022	1,053	1,059	1,055	1,097	1,073	1,132	1,332	1,166
Debt-free, Cash-free Net Working Capital to Revenue	3.97%	6.41%	10.84%	13.43%	14.84%	13.70%	11.78%	14.04%	8.56%	8.24%	12.62%
Debt-free Net Working Capital to Revenue	8.43%	10.43%	15.26%	19.96%	19.94%	18.68%	21.60%	16.97%	11.68%	12.14%	18.39%
Net Working Capital to Revenue	-10.98%	-12.65%	-0.96%	-7.59%	2.75%	3.63%	-3.79%	-4.19%	-3.64%	-1.88%	9.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.16	$0.44	$0.34	$0.24	$0.27	$0.31	$0.28	$0.24	$0.37	$0.29	$0.39
Adjusted Weighted Average Basic Shares Outstanding	2.11B	2.06B	2.13B	2.14B	2.14B	2.14B	2.20B	2.20B	2.20B	2.20B	2.20B
Adjusted Diluted Earnings per Share	$0.16	$0.43	$0.34	$0.24	$0.27	$0.30	$0.28	$0.24	$0.37	$0.29	$0.39
Adjusted Weighted Average Diluted Shares Outstanding	2.14B	2.14B	2.14B	2.14B	2.14B	2.15B	2.20B	2.20B	2.28B	2.20B	2.28B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	5.49B	5.49B	2.88B	2.88B	2.88B	2.94B	2.94B	2.94B	2.94B	2.94B	2.94B
Normalized Net Operating Profit after Tax (NOPAT)	434	874	1,286	1,048	818	776	1,221	1,163	907	914	1,537
Normalized NOPAT Margin	7.83%	13.68%	21.94%	17.51%	13.84%	11.70%	20.41%	19.71%	14.50%	13.43%	22.34%
Pre Tax Income Margin	-1.17%	7.27%	13.21%	10.12%	8.01%	6.92%	11.25%	9.65%	10.08%	8.10%	13.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.68	1.29	1.89	1.50	1.40	1.48	1.76	1.49	1.70	1.58	1.98
NOPAT to Interest Expense	0.41	2.43	1.69	1.21	1.58	2.05	1.57	1.34	2.12	2.03	1.79
EBIT Less CapEx to Interest Expense	-2.87	-1.53	-1.80	-1.33	-1.88	-2.40	-1.83	-2.38	-2.11	-2.73	-2.20
NOPAT Less CapEx to Interest Expense	-3.14	-0.39	-1.99	-1.62	-1.69	-1.82	-2.02	-2.53	-1.69	-2.28	-2.39
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	3.42%	4.98%	6.28%	6.95%	11.73%	12.63%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	3.42%	4.98%	6.28%	6.95%	11.73%	12.63%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, investor-focused read on Pacific Gas & Electric (NYSE: PCG) based on quarterly statements over the last several years, with a focus on trends in revenue, earnings, cash flow, and balance sheet metrics.

Revenue growth: In Q4 2025, operating revenue reached 6.804B, up from 6.633B in Q4 2024, with ongoing elevated revenue levels through 2025 versus 2024.
Ongoing profitability: Net income attributable to common shareholders remained positive in 2025 quarters (Q3 2025: 823M; Q4 2025: 642M; Q2 2025: 521M; Q1 2025: 607M), indicating continued earnings despite variable costs.
Operating cash flow strength: Q4 2025 shows solid cash generation from operations, with net cash from continuing operating activities around 1.96B and depreciation of about 1.33B supporting cash flow.
Shareholder returns and capital base: Dividends were paid in Q4 2025 (about 151M), and the company maintains a large, robust equity base (Total equity around 30B–31B in 2024–2025), supporting returns and capital programs.
Asset scale and capital investment: PPE(net) and overall asset base remain large (PPE net around mid-90B range in 2025), reflecting ongoing infrastructure investments typical for a regulated utility.
Financing flexibility: The company regularly taps the debt market (debt issuances in several 2025 quarters, e.g., around 3.0–3.8B per quarter), indicating access to capital to fund capex.
Gross margin pressure in Q4 2025: Total Gross Profit was negative (-223M) in Q4 2025, as operating cost of revenue exceeded revenue for that quarter, signaling rising cost pressures or unusual charges.
Near-term cash flow deficit from capex: In Q4 2025, capex (~3.16B) exceeded cash from operations (~1.96B), implying a near-term free cash flow shortfall and greater reliance on external financing for capital spending.
Investing cash outflows: Net cash from investing activities was notably negative in several quarters (e.g., Q4 2025 around -3.07B), consistent with aggressive capital deployment and asset additions.
Elevated leverage and liabilities: Long-term debt sits in the 55B+ range in 2025 quarters, contributing to a sizable liability base (Total liabilities around 106B+), which heightens exposure to rate and regulatory shifts.

05/12/26 11:39 AM ETAI Generated. May Contain Errors.

Pacific Gas & Electric Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Pacific Gas & Electric's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Pacific Gas & Electric's net income appears to be on a downward trend, with a most recent value of $2.70 billion in 2025, rising from $888 million in 2015. The previous period was $2.51 billion in 2024. View Pacific Gas & Electric's forecast to see where analysts expect Pacific Gas & Electric to go next.

Pacific Gas & Electric's total operating income in 2025 was $4.75 billion, based on the following breakdown:

Total Gross Profit: $9.87 billion
Total Operating Expenses: $5.12 billion

Over the last 10 years, Pacific Gas & Electric's total revenue changed from $16.83 billion in 2015 to $24.94 billion in 2025, a change of 48.1%.

Pacific Gas & Electric's total liabilities were at $108.82 billion at the end of 2025, a 6.2% increase from 2024, and a 134.5% increase since 2015.

In the past 10 years, Pacific Gas & Electric's cash and equivalents has ranged from $123 million in 2015 to $1.67 billion in 2018, and is currently $713 million as of their latest financial filing in 2025.

Over the last 10 years, Pacific Gas & Electric's book value per share changed from 21.96 in 2015 to 10.53 in 2025, a change of -52.0%.

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Financial statements for NYSE:PCG last updated on 4/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Pacific Gas & Electric (PCG) Financials

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Pacific Gas & Electric (PCG) Financials

Annual Income Statements for Pacific Gas & Electric

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Financials Breakdown Chart

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When does Pacific Gas & Electric's fiscal year end?

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How has Pacific Gas & Electric's revenue changed over the last 10 years?

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