# PG&E Corporation (PCG) — Stock CV

PG&E Corporation is a $39.1B utility company. Revenue grew 5.7% over the last year, it keeps 12¢ of every dollar of sales as profit, and it carries $59.3B of net debt. It trades at 9.1× earnings — near the lowest of its own history.

> PG&E is a holding company whose main subsidiary is Pacific Gas and Electric, a regulated utility operating in Central and Northern California that serves 5.7 million electricity customers and 4.6 million gas customers in 47 of the state's 58 counties.

## Identity

- **Ticker**: PCG
- **Sector**: Utilities
- **Industry**: Electric & Other Services Combined
- **Headquarters**: OAKLAND, CA
- **Employees**: 29 000
- **Website**: https://www.pgecorp.com
- **Market cap**: $39.1B
- **Last price**: $13.04
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $25.8B
- **Net income**: $3.06B
- **Free cash flow**: -$4.26B
- **Net debt**: $59.3B
- **P/E**: 9.1
- **Revenue growth (YoY)**: 5.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 75 |
| Growth | 26 |
| Profitability | 57 |
| Health | 23 |
| Quality | 41 |
| Moat | 25 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +5.7% YoY
- [x] Profitable — $3.06B TTM
- [x] Profit growing — +13.0% YoY
- [ ] Generates cash — -$4.26B TTM
- [x] Debt under control — current ratio 1.22
- [x] Established company — $39.1B market cap
- [ ] Not printing shares — +75.2% shares over ~5y
- [x] Proven track record — 6/10 profitable years
- [ ] Financially stable — Altman Z 0.3 — distress
- [x] Pays a dividend — yield 1.48%
- [x] Valuation not extreme — P/E 9.1

## Experience (career milestones)

- **FY2025** — Best year on record: $2.59B net income
- **FY2019** — Became debt-free: cash now exceeds total debt
- **FY2016** — First recorded profitable year: $1.39B net income
- **FY2016** — Revenue already above $10B: $17.7B in first reported year

## Strengths

- None stand out in the data.

## Watch-outs

- Negative free cash flow (-$4.3B)
- Altman Z-Score 0.34 — elevated financial-distress risk
- Thin interest coverage (2.0×)
- Loss-making in 4 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $20.6B | -$102M | -$5.43B |
| FY2022 | $21.7B | $1.80B | -$5.86B |
| FY2023 | $24.4B | $2.24B | -$4.97B |
| FY2024 | $24.4B | $2.48B | -$2.33B |
| FY2025 | $24.9B | $2.59B | -$3.07B |

---

Source: https://stockcv.com/PCG — derived from company filings; may be delayed or incomplete. Information, not investment advice.