# Public Service Enterprise Group Incorporated (PEG) — Stock CV

Public Service Enterprise Group Incorporated is a $36.0B utility company. Revenue grew 12.7% over the last year, it keeps 16¢ of every dollar of sales as profit, and its net debt equals ~83.6 years of free cash flow. It trades at 17.9× earnings — in the cheapest third of its own history.

> Public Service Enterprise Group is the holding company for a regulated utility (PSE&G) and PSEG Power, which owns all or a share of three nuclear plants and clean energy projects. PSE&G provides regulated gas and electricity delivery services in New Jersey to a combined 4.3 million customers.

## Identity

- **Ticker**: PEG
- **Sector**: Utilities
- **Industry**: Electric & Other Services Combined
- **Headquarters**: NEWARK, NJ
- **Employees**: 26 378
- **Website**: https://investor.pseg.com
- **Market cap**: $36.0B
- **Last price**: $72.28
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $12.5B
- **Net income**: $2.01B
- **Free cash flow**: $276M
- **Net debt**: $23.1B
- **P/E**: 17.9
- **Revenue growth (YoY)**: 12.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 65 |
| Growth | 38 |
| Profitability | 57 |
| Health | 21 |
| Quality | 62 |
| Moat | 6 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +12.7% YoY
- [x] Profitable — $2.01B TTM
- [x] Profit growing — +27.0% YoY
- [x] Generates cash — $276M TTM
- [ ] Debt under control — ~83.6y of cash flow to repay
- [x] Established company — $36.0B market cap
- [x] Not printing shares — -1.2% shares over ~5y
- [x] Proven track record — 8/9 profitable years
- [ ] Financially stable — health score 16/100
- [x] Pays a dividend — yield 3.60%
- [x] Valuation not extreme — P/E 17.9

## Experience (career milestones)

- **FY2023** — Best year on record: $2.56B net income
- **FY2019** — Revenue crossed $10B: $10.1B for the year
- **FY2016** — First recorded profitable year: $887M net income
- **FY2016** — Revenue already above $1B: $9.06B in first reported year
- **2009** — PSEG launched the Solar 4 All project, installing solar panels on 200,000 utility poles at a cost of $773…
- **2005** — The Federal Energy Regulatory Commission approved a proposed merger between PSEG and Exelon, a utility…
- **1989** — The company created Enterprise Diversified Holdings Inc
- **1971** — PSCT was renamed Transport of New Jersey in 1971, and sold to New Jersey Transit in 1980, leaving PSE&G exclusively…
- **1948** — The parent Public Service Corporation was dissolved in 1948 and PSE&G became an independent company
- **1928** — Established in 1928, PSE&G is the state’s oldest and largest investor owned utility

## Strengths

- Revenue growing 12.7% year over year
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Loss-making in 1 of the recent years
- Net debt equals ~83.6 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $9.72B | -$648M | -$983M |
| FY2022 | $9.80B | $1.03B | -$1.39B |
| FY2023 | $11.2B | $2.56B | $481M |
| FY2024 | $10.3B | $1.77B | -$1.25B |
| FY2025 | $12.2B | $2.11B | $26.0M |

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