PG&E Corporation

Utilities Multi-Utilities Oakland, California Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$24.9B
                    3y CAGR +4.8%
                    
                    P74
                    
                    +2.1%
                    
                    Net income
                    FY2025
                
$2.7B
                    Net margin +10.8%
                    
                    P23
                    
                    +7.6%
                    
                    Total assets
                    FY2025
                
$141.6B
                    ROA +1.9%
                    
                    P13
                    
                    +5.9%
                    
                    Operating cash flow
                    FY2025
                
$8.7B
                    FCF margin -12.3%
                    
                    P50
                    
                    +8.5%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

32 accounts · 10 years

Total assets $141.6B

Total liabilities $16.3B

Shareholders equity $32.5B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	$713.0M -24.1%	$940.0M 48.0%	$635.0M -13.5%	$734.0M 152.2%	$291.0M -39.9%	$484.0M -69.2%	$1.6B -5.9%	$1.7B 271.5%	$449.0M 153.7%	$177.0M
Short Term Investments	$0	$0	$0	$0 -100.0%	$4.6B 8.8%	$4.2B 13.7%	$3.7B 18.0%	$3.1B 142.3%	$1.3B	$0
Accounts Receivable	$2.3B 2.1%	$2.2B 8.4%	$2.0B -22.6%	$2.6B 12.8%	$2.3B 24.5%	$1.9B 46.3%	$1.3B 12.1%	$1.1B -7.6%	$1.2B -0.7%	$1.3B
Inventory	$75.0M 44.2%	$52.0M -20.0%	$65.0M -28.6%	$91.0M 106.8%	$44.0M -53.7%	$95.0M -2.1%	$97.0M -12.6%	$111.0M -3.5%	$115.0M -1.7%	$117.0M
Prepaid Expenses	$644.0M -35.5%	$999.0M -27.3%	$1.4B -4.0%	$1.4B 62.5%	$882.0M -33.9%	$1.3B 106.5%	$646.0M 44.2%	$448.0M -3.4%	$464.0M 64.0%	$283.0M
Other Current Assets	$644.0M -35.5%	$999.0M -27.3%	$1.4B -4.0%	$1.4B 62.5%	$882.0M -33.9%	$1.3B 106.5%	$646.0M 44.2%	$448.0M -3.4%	$464.0M 64.0%	$283.0M
Total Current Assets	$15.8B -8.1%	$17.2B 19.7%	$14.4B 12.2%	$12.8B 15.7%	$11.1B 15.4%	$9.6B -5.5%	$10.2B 10.5%	$9.2B 46.4%	$6.3B 1.9%	$6.2B
Property,Plant and Equipment	$96.3B 9.2%	$88.2B 7.2%	$82.3B 8.0%	$76.2B 9.1%	$69.8B 5.6%	$66.1B 7.3%	$61.6B 5.3%	$58.6B 8.9%	$53.8B 6.3%	$50.6B
Operating Lease Assets	$450.0M -14.1%	$524.0M -12.4%	$598.0M -54.4%	$1.3B 6.2%	$1.2B -29.1%	$1.7B -23.8%	$2.3B	—	—	—
Intangible Assets	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Deferred Tax Assets	$4.1B 34.2%	$3.1B 55.7%	$2.0B -27.5%	$2.7B -14.0%	$3.2B 127.3%	$1.4B 336.9%	$320.0M -90.2%	$3.3B	—	—
Other Noncurrent Assets	$4.2B 10.2%	$3.8B 25.0%	$3.1B 3.7%	$3.0B 3.7%	$2.9B 44.7%	$2.0B 9.6%	$1.8B 21.9%	$1.5B 21.2%	$1.2B -0.4%	$1.2B
Total Assets	$141.6B 5.9%	$133.7B 6.3%	$125.7B 5.9%	$118.6B 14.8%	$103.3B 5.6%	$97.9B 14.9%	$85.2B 10.7%	$77.0B 13.2%	$68.0B -0.9%	$68.6B
Liabilities
Accounts Payable	$3.4B 22.0%	$2.7B 19.0%	$2.3B -20.0%	$2.9B 1.2%	$2.9B 18.9%	$2.4B 22.9%	$2.0B -1.1%	$2.0B 20.0%	$1.6B 10.1%	$1.5B
Accrued Liabilities	$4.0B 10.0%	$3.7B -22.1%	$4.7B 39.3%	$3.4B 38.4%	$2.4B 8.0%	$2.3B 79.9%	$1.3B -17.1%	$1.5B -24.8%	$2.0B -13.5%	$2.3B
Current Portion of Long Term Debt	$821.0M -61.7%	$2.1B 56.0%	$1.4B -39.3%	$2.3B -49.4%	$4.5B 15903.6%	$28.0M	$0 -100.0%	$18.6B 4070.6%	$445.0M -36.4%	$700.0M
Operating Lease Liabilities	$90.0M 5.9%	$85.0M 6.3%	$80.0M -65.4%	$231.0M -50.6%	$468.0M -12.2%	$533.0M -4.1%	$556.0M	—	—	—
Other Current Liabilities	$4.0B 10.0%	$3.7B -22.1%	$4.7B 39.3%	$3.4B 38.4%	$2.4B 8.0%	$2.3B 79.9%	$1.3B -17.1%	$1.5B -24.8%	$2.0B -13.5%	$2.3B
Total Current Liabilities	$16.3B -0.2%	$16.3B -5.7%	$17.3B 9.7%	$15.8B -9.4%	$17.4B 28.3%	$13.6B 78.0%	$7.6B -81.7%	$41.7B 484.9%	$7.1B -5.8%	$7.6B
Long Term Debt	$57.4B 7.1%	$53.6B 5.1%	$51.0B 6.8%	$47.7B 24.9%	$38.2B 2.5%	$37.3B 68.1%	$22.2B	$0 -100.0%	$17.8B 9.5%	$16.2B
Operating Lease Liabilities Noncurrent	$360.0M -18.0%	$439.0M -15.3%	$518.0M -58.3%	$1.2B 53.5%	$810.0M -32.9%	$1.2B -30.2%	$1.7B	—	—	—
Deferred Tax Liabilities	$4.1B 34.2%	$3.1B 55.7%	$2.0B -27.5%	$2.7B -14.0%	$3.2B 127.3%	$1.4B 336.9%	$320.0M -90.2%	$3.3B 161.6%	$1.3B 21.7%	$1.0B
Other Noncurrent Liabilities	$4.5B 7.0%	$4.2B 14.7%	$3.6B -15.3%	$4.3B -0.4%	$4.3B 12.0%	$3.8B 49.6%	$2.6B 4.4%	$2.5B 15.7%	$2.1B -6.5%	$2.3B
Total Liabilities	$16.3B -0.2%	$16.3B -5.7%	$17.3B 9.7%	$15.8B -9.4%	$17.4B 28.3%	$13.6B 78.0%	$7.6B -81.7%	$41.7B 484.9%	$7.1B -5.8%	$7.6B
Equity
Preferred Stock	$1.6B 0.0%	$1.6B	$0	$0	$0	$0	$0	$0	$0	$0
Common Stock	$31.6B 0.3%	$31.6B 3.9%	$30.4B -7.6%	$32.9B -6.4%	$35.1B 16.2%	$30.2B 131.8%	$13.0B 1.0%	$12.9B 2.2%	$12.6B 3.6%	$12.2B
Retained Earnings	$-650.0M 78.1%	$-3.0B 44.3%	$-5.3B 29.4%	$-7.5B 18.8%	$-9.3B -1.0%	$-9.2B -16.5%	$-7.9B -3056.8%	$-250.0M -103.8%	$6.6B 14.7%	$5.8B
Treasury Stock	$0	$0	$0 -100.0%	$2.5B -48.1%	$4.9B	$0	$0	$0	$0	$0
Accumulated Other Comprehensive Income	$-25.0M -31.6%	$-19.0M -46.2%	$-13.0M -160.0%	$-5.0M 75.0%	$-20.0M 25.9%	$-27.0M -170.0%	$-10.0M -11.1%	$-9.0M -12.5%	$-8.0M 11.1%	$-9.0M
Noncontrolling Interest	$252.0M 0.0%	$252.0M 0.0%	$252.0M 0.0%	$252.0M 0.0%	$252.0M 0.0%	$252.0M 0.0%	$252.0M 0.0%	$252.0M 0.0%	$252.0M 0.0%	$252.0M
Total Stockholders Equity	$32.5B 7.9%	$30.1B 20.4%	$25.0B 9.7%	$22.8B 8.8%	$21.0B -0.1%	$21.0B 308.9%	$5.1B -59.4%	$12.7B -34.2%	$19.2B 7.1%	$17.9B
Total Liabilitiesand Equity	$141.6B 5.9%	$133.7B 6.3%	$125.7B 5.9%	$118.6B 14.8%	$103.3B 5.6%	$97.9B 14.9%	$85.2B 10.7%	$77.0B 13.2%	$68.0B -0.9%	$68.6B

Income Statement

Revenue, expense, and profitability

15 accounts · 10 years

Revenue $24.9B

Operating income $4.7B

Net income $2.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	$24.9B 2.1%	$24.4B 0.0%	$24.4B 12.7%	$21.7B 5.0%	$20.6B 11.8%	$18.5B 7.8%	$17.1B 2.2%	$16.8B -2.2%	$17.1B -3.0%	$17.7B
Expenses Share Based Compensation	$134.0M 36.7%	$98.0M 7.7%	$91.0M -20.9%	$115.0M 105.4%	$56.0M 60.0%	$35.0M -30.0%	$50.0M -43.8%	$89.0M 4.7%	$85.0M -21.3%	$108.0M
Expenses Operating Expenses	$20.2B 1.1%	$20.0B -8.3%	$21.8B 9.6%	$19.8B 5.8%	$18.8B 12.2%	$16.7B -38.6%	$27.2B 2.9%	$26.5B 85.9%	$14.2B -8.7%	$15.6B
Other Income Expense Operating Income	$4.7B 6.5%	$4.5B 66.9%	$2.7B 45.4%	$1.8B -2.4%	$1.9B 7.3%	$1.8B 117.4%	$-10.1B -4.1%	$-9.7B -433.9%	$2.9B 39.7%	$2.1B
Other Income Expense Interest Income	$520.0M -13.9%	$604.0M -0.3%	$606.0M 274.1%	$162.0M 710.0%	$20.0M -48.7%	$39.0M -52.4%	$82.0M 7.9%	$76.0M 145.2%	$31.0M 34.8%	$23.0M
Other Income Expense Interest Expense	$3.0B -0.8%	$3.1B 7.1%	$2.9B 48.7%	$1.9B 19.7%	$1.6B 27.1%	$1.3B 34.9%	$934.0M 0.5%	$929.0M 4.6%	$888.0M 7.1%	$829.0M
Other Income Expense Other Income/expense	$182.0M -39.3%	$300.0M 10.3%	$272.0M -31.0%	$394.0M -13.8%	$457.0M -5.4%	$483.0M 93.2%	$250.0M -41.0%	$424.0M 244.7%	$123.0M -34.6%	$188.0M
Other Income Expense Income Before Tax	$2.4B 4.8%	$2.3B 230.8%	$699.0M 46.8%	$476.0M -36.4%	$748.0M 179.4%	$-942.0M 91.5%	$-11.0B -9.0%	$-10.1B -566.6%	$2.2B 48.5%	$1.5B
Income Tax Income Tax Expense	$-280.0M -40.0%	$-200.0M 87.2%	$-1.6B -16.4%	$-1.3B -260.0%	$836.0M 130.9%	$362.0M 110.6%	$-3.4B -3.3%	$-3.3B -744.2%	$511.0M 829.1%	$55.0M
net Income net Income	$2.7B 7.6%	$2.5B 11.3%	$2.3B 24.4%	$1.8B 2161.4%	$-88.0M 93.3%	$-1.3B 82.9%	$-7.6B -11.8%	$-6.8B -511.9%	$1.7B 18.0%	$1.4B
net Income Comprehensive Income	$2.7B 7.6%	$2.5B 11.5%	$2.2B 22.9%	$1.8B 2358.0%	$-81.0M 93.9%	$-1.3B 82.7%	$-7.6B -11.9%	$-6.8B -511.4%	$1.7B 18.2%	$1.4B
Earnings Per Share Basic Eps	$1 1.7%	$1 6.4%	$1 19.8%	$1 1920.0%	$-0 95.2%	$-1 92.8%	$-14 -9.4%	$-13 -512.8%	$3 15.1%	$3
Earnings Per Share Diluted Eps	$1 2.6%	$1 9.5%	$1 25.0%	$1 1780.0%	$-0 95.2%	$-1 92.8%	$-14 -9.4%	$-13 -512.8%	$3 15.5%	$3
Earnings Per Share Weighted Average Shares Basic	$2.2B 2.6%	$2.1B 3.7%	$2.1B 3.9%	$2.0B 0.1%	$2.0B 57.9%	$1.3B 138.1%	$528.0M 2.1%	$517.0M 1.0%	$512.0M 2.6%	$499.0M
Earnings Per Share Weighted Average Shares Diluted	$2.2B 2.6%	$2.1B 0.4%	$2.1B 0.3%	$2.1B 7.4%	$2.0B 57.9%	$1.3B 138.1%	$528.0M 2.1%	$517.0M 0.8%	$513.0M 2.4%	$501.0M

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 10 years

Operating cash flow $8.7B

Investing cash flow $-12.3B

Financing cash flow $3.4B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	$2.7B 7.6%	$2.5B 11.3%	$2.3B 24.4%	$1.8B 2161.4%	$-88.0M 93.3%	$-1.3B 82.9%	$-7.6B -11.8%	$-6.8B -511.9%	$1.7B 18.0%	$1.4B
Operating Activities Stock Based Compensation	$134.0M 36.7%	$98.0M 7.7%	$91.0M -20.9%	$115.0M 105.4%	$56.0M 60.0%	$35.0M -30.0%	$50.0M -43.8%	$89.0M 4.7%	$85.0M -21.3%	$108.0M
Operating Activities Deferred Income Taxes	$-225.0M -64.2%	$-137.0M 86.9%	$-1.0B -11.0%	$-943.0M -273.7%	$543.0M 110.5%	$258.0M 110.9%	$-2.4B -4.3%	$-2.3B -570.7%	$481.0M 120.6%	$218.0M
Operating Activities Changes In Operating Assets and Liabilities	$176.0M 1273.3%	$-15.0M 75.8%	$-62.0M -107.1%	$873.0M 485.9%	$149.0M 186.5%	$52.0M -91.3%	$596.0M 23.7%	$482.0M 152.4%	$191.0M -6.4%	$204.0M
Operating Activities Other Non Cash Items	$-75.0M -124.2%	$310.0M 367.2%	$-116.0M -122.4%	$517.0M 108.5%	$248.0M -0.4%	$249.0M 54.7%	$161.0M -51.5%	$332.0M 8.1%	$307.0M -19.0%	$379.0M
Operating Activities net Cash From Operating Activities	$8.7B 8.5%	$8.0B 69.3%	$4.7B 27.6%	$3.7B 64.5%	$2.3B 111.8%	$-19.1B -497.2%	$4.8B 1.3%	$4.8B -20.5%	$6.0B 35.6%	$4.4B
Investing Activities Capital Expenditures	$11.8B 13.7%	$10.4B 6.7%	$9.7B 1.4%	$9.6B 24.6%	$7.7B 0.0%	$7.7B 21.8%	$6.3B -3.1%	$6.5B 15.5%	$5.6B -1.2%	$5.7B
Investing Activities Other Investing Activities	$-22.0M 37.1%	$-35.0M -169.2%	$-13.0M 61.8%	$-34.0M 42.4%	$-59.0M -321.4%	$-14.0M -27.3%	$-11.0M 52.2%	$-23.0M 0.0%	$-23.0M -76.9%	$-13.0M
Investing Activities net Cash From Investing Activities	$-12.3B -8.3%	$-11.4B -24.2%	$-9.2B 10.3%	$-10.2B -47.9%	$-6.9B 10.9%	$-7.7B -21.5%	$-6.4B 2.8%	$-6.6B -16.2%	$-5.7B 1.8%	$-5.8B
Financing Activities Proceeds From Debt	$4.8B -30.3%	$6.9B -35.6%	$10.7B 5.4%	$10.1B 4.1%	$9.7B 13.7%	$8.6B	$0 -100.0%	$4.0B	$0	$0
Financing Activities Repayment of Debt	$3.9B 384.5%	$800.0M -74.0%	$3.1B -48.5%	$6.0B 6759.8%	$87.0M -88.6%	$764.0M	$0 -100.0%	$795.0M -45.0%	$1.4B 803.1%	$160.0M
Financing Activities Proceeds From Stock Issuance	$0 -100.0%	$1.1B	$0	$0	—	—	$85.0M -57.5%	$200.0M -49.4%	$395.0M -51.9%	$822.0M
Financing Activities Other Financing Activities	$-87.0M -47.5%	$-59.0M -247.1%	$-17.0M -132.1%	$53.0M 282.8%	$-29.0M 27.5%	$-40.0M -400.0%	$-8.0M 60.0%	$-20.0M 81.3%	$-107.0M -143.2%	$-44.0M
Financing Activities net Cash From Financing Activities	$3.4B -7.2%	$3.6B -17.7%	$4.4B -38.3%	$7.1B 65.0%	$4.3B -83.3%	$25.9B 1671.0%	$1.5B -51.7%	$3.0B 5610.9%	$-55.0M -104.7%	$1.2B
Cash Reconciliation Effect of Exchange Rate On Cash	$972.0M -19.9%	$1.2B 30.2%	$932.0M -1.6%	$947.0M 208.5%	$307.0M -51.0%	$627.0M -60.2%	$1.6B -5.9%	$1.7B 267.3%	$456.0M 147.8%	$184.0M
Cash Reconciliation net Change In Cash	$-241.0M -185.8%	$281.0M 1973.3%	$-15.0M -102.3%	$640.0M 300.0%	$-320.0M 66.3%	$-950.0M -869.4%	$-98.0M -108.0%	$1.2B 348.2%	$272.0M 257.2%	$-173.0M
Cash Reconciliation Cash At Beginning of Period	$972.0M -19.9%	$1.2B 30.2%	$932.0M -1.6%	$947.0M 208.5%	$307.0M -51.0%	$627.0M -60.2%	$1.6B -5.9%	$1.7B 267.3%	$456.0M 147.8%	$184.0M
Cash Reconciliation Cash At End of Period	$972.0M -19.9%	$1.2B 30.2%	$932.0M -1.6%	$947.0M 208.5%	$307.0M -51.0%	$627.0M -60.2%	$1.6B -5.9%	$1.7B 267.3%	$456.0M 147.8%	$184.0M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	+19.0%	+18.3%	+10.9%	+8.5%	+9.1%	+9.5%	-58.9%	-57.9%	+17.0%	+11.8%
Net margin	+10.8%	+10.3%	+9.2%	+8.4%	-0.4%	-7.1%	-44.6%	-40.8%	+9.7%	+8.0%
FCF margin	-12.3%	-9.6%	-20.3%	-27.0%	-26.3%	-145.2%	-8.7%	-10.5%	+2.0%	-7.4%
Growth
Revenue CAGR (3y)	+4.8%	+5.8%	+9.8%	+8.2%	+7.2%	+2.5%	-1.0%	-0.1%	+0.1%	+4.2%
Returns
ROE	+8.3%	+8.3%	+9.0%	+7.9%	-0.4%	-6.2%	-148.8%	-54.0%	+8.6%	+7.8%
ROA	+1.9%	+1.9%	+1.8%	+1.5%	-0.1%	-1.3%	-9.0%	-8.9%	+2.4%	+2.1%
ROIC	+5.3%	+5.3%	+3.5%	+2.5%	+0.0%	+3.0%	-39.2%	-32.8%	+6.0%	+5.8%
Liquidity
Current ratio	0.97x	1.05x	0.83x	0.81x	0.64x	0.71x	1.33x	0.22x	0.88x	0.81x
Quick ratio	0.18x	0.19x	0.15x	0.21x	0.15x	0.17x	0.37x	0.07x	0.24x	0.19x
Leverage
D/E	0.50x	0.54x	0.69x	0.69x	0.83x	0.65x	1.49x	3.30x	0.37x	0.42x
Interest coverage	1.57x	1.46x	0.94x	0.96x	1.18x	1.39x	-10.81x	-10.44x	3.27x	2.51x
Efficiency
Asset turnover	0.18x	0.18x	0.19x	0.18x	0.20x	0.19x	0.20x	0.22x	0.25x	0.26x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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PG&E Corporation

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