Is the business good?
How good a business is PCG?
PG&E Corporation earns 4.2% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
4.2%
Return on invested capital · cost of capital 9.0% · 4.8 points below what the capital costs: growth destroys value
- Operating margin
- 20%
Operating margin · Utilities - Regulated Electric median 22% · 12 months to Q2 2026
- Cash conversion
- −1.35×
Cash conversion · −0.89× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +3.7%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 9.5% |
| FY2021 | 9.1% |
| FY2022 | 8.5% |
| FY2023 | 11% |
| FY2024 | 18% |
| FY2025 | 19% |
Details›
- Operating margin12 months to Q2 2026
- 20%
- Net margin12 months to Q2 2026
- 12%
- Free cash flow margin
- −17%
- Revenue, trailing twelve months
- $25.8B
- Free cash flow, trailing twelve months
- −$4.26B
- Net income, trailing twelve months
- $3.17B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.2%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Utilities - Regulated Electric
Ranks #10 of 37 by Smart Score