Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

PG&E Corporation

PCG stock analysis · Utilities · Multi-Utilities

FY 2025-12-31ANNUAL FILINGS
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ⓘ These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$16.82HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$37B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

— Requires positive annual FCF, usable shares and discount rate above terminal growth.

Requires positive annual FCF, usable shares and discount rate above terminal growth.

How this is calculated ↗
Valuation

Reverse DCF

— No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

How this is calculated ↗
Valuation

Relative valuation

58.3%

11 industry peers · median 22.6×

How this is calculated ↗
Valuation

Historical multiples

17.0×

4 annual observations · snapshot P/E 14.3× · -16.0% versus history

How this is calculated ↗
Valuation

Free cash flow yield

-8.3%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

4.2%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

68/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

— Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

5.9%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

— Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-4.4%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

1.6%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 19.1B2020-12-31: cfo -$19,130,000,000.00 (negative; lower scale compressed)2020-12-31: capex $7,690,000,000.0020202021-12-31: cfo $2,262,000,000.002021-12-31: capex $7,689,000,000.0020212022-12-31: cfo $3,721,000,000.002022-12-31: capex $9,584,000,000.0020222023-12-31: cfo $4,747,000,000.002023-12-31: capex $9,714,000,000.0020232024-12-31: cfo $8,035,000,000.002024-12-31: capex $10,369,000,000.0020242025-12-31: cfo $8,716,000,000.002025-12-31: capex $11,787,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%———
10.0%———
12.0%———

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3124.9B2.7B8.7B11.8B141.6B
2024-12-3124.4B2.5B8B10.4B133.7B
2023-12-3124.4B2.3B4.7B9.7B125.7B
2022-12-3121.7B1.8B3.7B9.6B118.6B
2021-12-3120.6B-88M2.3B7.7B103.3B
2020-12-3118.5B-1.3B-19.1B7.7B97.9B
2019-12-3117.1B-7.6B4.8B6.3B85.2B
2018-12-3116.8B-6.8B4.8B6.5B77B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue24.9BRevenues2026-02-12
netIncome2.7BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-12
Parent/common earnings proxy2.6BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-12
cfo8.7BNetCashProvidedByUsedInOperatingActivities2026-02-12
capex11.8BPaymentsToAcquirePropertyPlantAndEquipment2026-02-12
operatingIncome4.7BOperatingIncomeLoss2026-02-12
assets141.6BAssets2026-02-12
equity32.8BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-12
Parent book equity proxy32.5BStockholdersEquity2026-02-12
debt57.4BLongTermDebt2026-02-12
shortDebt2.7BShortTermBorrowings2026-02-12
cash713MCashAndCashEquivalentsAtCarryingValue2026-02-12
shares2.2BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-12
dividends—Not reported under a supported tag—
buybacks—Not reported under a supported tag—
issuance0ProceedsFromIssuanceOfCommonStock2026-02-12