PG&E Corp
Exchange: NYSESector: UtilitiesIndustry: Utilities - Regulated Electric
PG&E Corporation is a holding company headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. Each of PG&E Corporation and the Utility is a separate entity, with distinct creditors and claimants, and is subject to separate laws, rules and regulations.
Did you know?
A large-cap company with a $35.6B market cap.
Current Price
$16.21
-1.46%GoodMoat Value
$12.45
23.2% overvaluedProfile
Valuation (TTM)
Market Cap$35.63B
P/E12.53
EV$98.58B
P/B1.09
Shares Out2.20B
P/Sales1.38
Revenue$25.83B
EV/EBITDA9.29
PG&E Corp (PCG) Stock Analysis
GoodMoat Analysis
PG&E Corp is a regulated electric utility with a strong local monopoly but significant financial and operational risks. Its current valuation appears unfavourable, trading at a premium to the GoodMoat target price and showing weak free cash flow generation.
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PG&E Corp (PCG) operates as a regulated electric and gas utility in California, providing an essential service within a government-granted geographic monopoly. Applying the GoodMoat framework, its primary moat stems from regulatory barriers (criterion 5), as it holds a state-sanctioned, asset-heavy monopoly in its service territory. This grants it pricing power (criterion 13) through a regulated rate of return. However, its moat is likely narrow; it scores poorly on other criteria like low disruption risk (criterion 14), given its history of wildfires and bankruptcy, and it lacks the high-quality financial profile typical of a strong moat business. The company's quality indicators are weak: it has a negative Free Cash Flow Yield of -8.0%, a high Debt/Equity ratio of 1.88, and modest Revenue Growth of 2.6% YoY. Its ROE of 8.3% is below the 15-20% threshold for high ROIC. According to the Decision Framework, the stock fails the 'Moat & Quality Gate' for further valuation analysis, as its financial quality is unfavourable. The current price of $17.44 is significantly above the GoodMoat Target of $12.45, indicating an unfavourable valuation. For a value investor, PG&E presents a complex case of a regulated utility with a stable, essential service but burdened by legacy liabilities, weak cash generation, and a price that does not offer a margin of safety.
Market Cap$35.63B
Current Price$16.21
P/E Ratio12.53
Forward P/E—
PEG Ratio0.32
EPS$1.18
Book Value$14.80
P/B Ratio1.09
PCG Financial Charts
FCF vs CAPEX
FCFCAPEX
Cash vs Debt
Net Debt: 60.4B
Revenue
17.1B
FY19
18.5B
FY20
20.6B
FY21
21.7B
FY22
24.4B
FY23
24.4B
FY24
24.9B
FY25
Net Income
—
FY19
—
FY20
—
FY21
1.8B
FY22
2.3B
FY23
2.5B
FY24
2.7B
FY25
PCG 52-Week Range
$12.90
$19.06
50-Day MA: $17.70200-Day MA: $16.06
Did you know?
Pays a 0.62% dividend yield.
PG&E Corp (PCG) Financial Summary
PG&E Corp (PCG) is a Utilities company in the Utilities - Regulated Electric industry, listed on NYSE. The stock currently trades at $16.21 with a market capitalization of $35.63B.
Key valuation metrics include a P/E ratio of 12.53, price-to-book ratio of 1.09, and EPS of $1.18. The company reports a profit margin of 11.4% and return on equity of 9.1%.
PCG Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $35.63B |
| P/E Ratio | 12.53 |
| EPS | $1.18 |
| P/B Ratio | 1.09 |
| P/S Ratio | 1.38 |
| EV/EBITDA | 9.29 |
| Dividend Yield | 0.62% |
| Profit Margin | 11.4% |
| Return on Equity | 9.1% |
| Debt/Equity | 1.88 |
PCG Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $17.13B | $-7.66B |
| FY20 | $18.47B | $-1.32B |
| FY21 | $20.64B | $-102.00M |
| FY22 | $21.68B | $1.81B |
| FY23 | $24.43B | $2.26B |
| FY24 | $24.42B | $2.51B |
| FY25 | $24.93B | $2.70B |
PG&E Corp (PCG) Valuation
Based on GoodMoat's DCF model, PG&E Corp has a fair value estimate of $12.45. At the current price of $16.21, the stock appears 30.2% overvalued relative to our intrinsic value estimate.
PCG Quality Indicators
PG&E Corp maintains a profit margin of 11.4% and an operating margin of 19.0%. Return on equity stands at 9.1%. The current ratio is 0.97. Debt-to-equity ratio is 1.88.
About PG&E Corp
PG&E Corporation is a holding company headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. Each of PG&E Corporation and the Utility is a separate entity, with distinct creditors and claimants, and is subject to separate laws, rules and regulations.
PCG Free Cash Flow
PG&E Corp generated $-3.07B in trailing twelve-month free cash flow, representing an FCF yield of -8.62%. This low FCF yield may reflect heavy reinvestment or growth spending.
PCG Shares Outstanding
PG&E Corp has 2.20 billion shares outstanding at a share price of $16.21, giving it a market capitalization of $35.63B.
PCG Recent Insider Trades
Recent insider transactions at PG&E Corp include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| Glickman Jason M (EVP, Strategy and Growth) | SELL | 47,264 | $772766.40 |
| Poppe Patricia K (Chief Executive Officer) | SELL | 31,250 | $512187.50 |
| Cooper Kerry Whorton | SELL | 2,500 | $46700.00 |