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PG&E Corporation, incorporated in California in 1995, is a holding company whose primary operating subsidiary is Pacific Gas and Electric Company, a public utility operating in Northern and Central California. PG&E Corporation became the holding company of the Utility and its subsidiaries in 1997.
19.36% operating margin is respectable but not wide. ROIC at 4.11%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 1.9%, essentially flat. This is a business that needs a catalyst.
Negative free cash flow of -$3.07B. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$25.44B
▲ +1.9% YoY
Net Income (TTM)
$2.82B
▲ +4.8% YoY
Op. Margin
19.65%
▲ +0.8pp YoY
ROIC
4.24%
▼ -0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$4.21B
▼ -31.6% YoY
Op. Cash Flow (TTM)
$8.30B
▲ +8.5% YoY
Net Debt
$61.81B
Cash & Equiv.
$1.13B
5Y CAGR: +5.8%
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