PG&E (PCG)
NYSE:PCG
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PG&E
(NYSE:PCG)
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Rating:57Neutral
Price Target:
$17.50
▼(-6.07% Downside)
Action:ReiteratedDate:02/13/26
The score is held back mainly by structurally negative free cash flow and high leverage (with added caution due to recent data inconsistencies). Support comes from constructive guidance and improving operations, plus a technically strong uptrend, while valuation is reasonable but the dividend yield remains low.
Positive Factors
Safety & Reliability Improvements
Substantial, sustained safety and ignition reductions materially lower operational and liability risk, improving regulatory and community relations. Over 2–6 months this durability reduces contingency exposure, supports smoother cost recovery discussions, and helps preserve credit metrics and investor confidence.
Negative Factors
High Leverage & Negative Free Cash Flow
Consistent negative free cash flow combined with elevated leverage implies ongoing reliance on external financing to fund capex and obligations. Structurally this limits financial flexibility, increases sensitivity to interest rates and credit-access risk, and constrains the company's ability to self-fund contingencies or accelerate investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Safety & Reliability Improvements
Substantial, sustained safety and ignition reductions materially lower operational and liability risk, improving regulatory and community relations. Over 2–6 months this durability reduces contingency exposure, supports smoother cost recovery discussions, and helps preserve credit metrics and investor confidence.
Read all positive factors
PG&E (PCG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$40.95B
Dividend Yield0.66%
Average Volume (3M)22.26M
Price to Earnings (P/E)13.1
Beta (1Y)0.32
Revenue Growth-0.27%
EPS Growth-7.65%
CountryUS
Employees28,410
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)0.36
Shares Outstanding2,197,968,000
10 Day Avg. Volume17,307,838
30 Day Avg. Volume22,259,706
Financial Highlights & Ratios
PEG Ratio7.58
Price to Book (P/B)1.08
Price to Sales (P/S)1.42
P/FCF Ratio-11.50
Enterprise Value/Market Cap2.48
Enterprise Value/Revenue4.07
Enterprise Value/Gross Profit13.92
Enterprise Value/Ebitda9.89
Forecast
1Y Price Target
$22.75Price Target Upside22.11% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)1.65
Revenue Forecast (FY)$26.68B
PG&E Business Overview & Revenue Model
Company Description
PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company wa...
How the Company Makes Money
PG&E generates revenue primarily through the sale of electricity and natural gas to its customers. The company operates under a regulated utility model, allowing it to earn a return on its investments by charging customers rates approved by the Ca...
PG&E Key Performance Indicators (KPIs)
Any
Electric Operating Revenue Breakdown
Shows revenue generated from electric operations, highlighting the company's core business strength and its ability to maintain or grow its market share in the electric utility sector.
Shows revenue generated from electric operations, highlighting the company's core business strength and its ability to maintain or grow its market share in the electric utility sector.
Data provided by:
The Fly
The FlyPG&E Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The call emphasized multiple strong operational and financial wins: double-digit EPS growth, meaningful safety and reliability improvements, recurring O&M savings, lower customer bills, and a growing data center load pipeline that supports an amplified affordability target. At the same time, material execution and valuation risks persist tied to wildfire liability reform (SB 254 phase two), regulatory cost recovery proceedings, rating-agency views, and realization/timing of load and savings assumptions. Management presented a disciplined capital and financing approach to preserve investment-grade metrics and avoid equity issuance while signaling readiness to reassess plans if legislative progress stalls.Positive Updates
Strong EPS Growth
Core earnings per share for full-year 2025 were $1.50 at the midpoint, up 10% versus 2024; 2026 guidance raised/tightened to $1.64–$1.66 (midpoint implies ~10% EPS growth) and management reaffirms 9%+ annual growth 2027–2030.
Negative Updates
Wildfire Liability and SB 254 Phase Two Uncertainty
Outcome of SB 254 phase two (CEA recommendations due April 1) remains the critical variable; current legal/financial construct described as regressive and creates pricing/valuation uncertainty that could force the company to reevaluate its capital plan if legislative progress stalls.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong EPS Growth
Core earnings per share for full-year 2025 were $1.50 at the midpoint, up 10% versus 2024; 2026 guidance raised/tightened to $1.64–$1.66 (midpoint implies ~10% EPS growth) and management reaffirms 9%+ annual growth 2027–2030.
Read all positive updates
Company Guidance
PG&E raised and tightened 2026 core EPS guidance to $1.64–$1.66 (midpoint implying ~10% EPS growth), after reporting 2025 core EPS of $1.50 (up 10% YoY) and reaffirming 9%+ annual growth from 2027–2030; management kept the $73 billion five‑year capex plan (with at least $5 billion outside the plan), expects no new common equity through 2030, targets FFO-to-debt in the mid‑teens, doubled the 2026 dividend to $0.20 and targets a 20% payout by 2028, plans up to $4.6 billion of 2026 utility debt issuance while keeping parent debt below 10%, and would debt‑finance a $373 million/year contingent contribution if called; operational and affordability targets include an updated “simple, affordable” bill trajectory of 0%–3%, 2025 non‑fuel O&M savings of 2.5% with a new 2%–4% O&M savings target (after inflation), capital‑to‑expense ratio improving from 0.8 to 1.0 (peers ~2.0, top decile ~3.0), 3.6 GW of large load in final engineering (up ~2 GW), ~1.8 GW expected online by 2030, ~1%+ potential monthly bill savings per GW, ignitions down 43%, serious injuries/fatalities down 43%, serious preventable MVIs improved 30%, system reliability up 19%, bundled residential electric rates 11% lower vs. Jan 2024 (~$20/month savings), >$700 million redeployed to customers over four years, 1,900 miles of undergrounding expected by 2027 with a path to ~5,000 additional miles starting 2028 and nearly 11,000 miles of system hardening through 2037 (>75% of HFTD miles).PG&E Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
55
Neutral
Cash Flow
42
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 24.93B | 24.42B | 24.43B | 21.68B | 20.64B |
| Gross Profit | 4.88B | 9.16B | 4.00B | 2.68B | 2.14B |
| EBITDA | 9.87B | 9.94B | 7.85B | 6.73B | 6.27B |
| Net Income | 2.70B | 2.51B | 2.26B | 1.81B | -88.00M |
Balance Sheet | |||||
| Total Assets | 141.61B | 133.66B | 125.70B | 118.64B | 103.33B |
| Cash, Cash Equivalents and Short-Term Investments | 713.00M | 940.00M | 635.00M | 734.00M | 291.00M |
| Total Debt | 61.34B | 58.34B | 57.73B | 53.54B | 46.17B |
| Total Liabilities | 108.82B | 103.26B | 100.41B | 95.57B | 82.10B |
| Stockholders Equity | 32.54B | 30.15B | 25.04B | 22.82B | 20.97B |
Cash Flow | |||||
| Free Cash Flow | -3.07B | -2.33B | -4.97B | -5.86B | -5.43B |
| Operating Cash Flow | 8.72B | 8.04B | 4.75B | 3.72B | 2.26B |
| Investing Cash Flow | -12.32B | -11.38B | -9.16B | -10.21B | -6.91B |
| Financing Cash Flow | 3.36B | 3.62B | 4.40B | 7.13B | 4.32B |
PG&E Technical Analysis
Positive
18.63
Price Trends
17.57
Positive
16.58
Positive
15.77
Positive
Market Momentum
0.10
Negative
65.86
Neutral
84.64
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PCG, the sentiment is Positive. The current price of 18.63 is above the 20-day moving average (MA) of 17.78, above the 50-day MA of 17.57, and above the 200-day MA of 15.77, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 65.86 is Neutral, neither overbought nor oversold. The STOCH value of 84.64 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PCG.
PG&E Risk Analysis
PG&E disclosed 32 risk factors in its most recent earnings report. PG&E reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
PG&E Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $74.55B | 16.71 | 12.06% | 3.25% | 7.66% | 37.42% | |
71 Outperform | $103.49B | 18.33 | 9.69% | 3.61% | 4.80% | 14.44% | |
66 Neutral | $109.24B | 22.16 | 12.50% | 3.40% | 9.40% | -6.05% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | $30.00B | 25.33 | 8.04% | 3.94% | 7.64% | 48.61% | |
61 Neutral | $31.37B | 18.26 | 12.16% | 3.45% | 19.42% | -9.68% | |
57 Neutral | $40.95B | 13.06 | 8.55% | 0.66% | -0.27% | -7.65% |
* Utilities Sector Average
PCG
PG&E
18.63
1.87
11.15%
AEP
American Electric Power
137.15
35.90
35.46%
DTE
DTE Energy
150.98
25.36
20.19%
DUK
Duke Energy
133.00
18.13
15.78%
FE
FirstEnergy
51.91
12.90
33.07%
SO
Southern Co
97.59
10.59
12.17%
PG&E Corporate Events
Business Operations and StrategyFinancial Disclosures
PG&E Reports Strong 2025 Earnings and Tightens 2026 Guidance
Positive
Feb 12, 2026
PGE reported improved 2025 results on February 12, 2026, with GAAP earnings rising to $1.18 per share and non-GAAP core earnings climbing to $1.50 per share, driven by higher customer capital investment and operating and maintenance savings despit...
Business Operations and StrategyExecutive/Board Changes
PG&E Announces Leadership Changes Effective January 2026
Positive
Dec 17, 2025
On December 11, 2025, PGE Corporation and Pacific Gas and Electric Company announced leadership changes aiming to enhance operational efficiencies and customer service, effective January 1, 2026. Sumeet Singh will take over as CEO of Pacific Gas a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.