PG&E CORP
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 60,062 | 64.9 |
| Stockholders' equity | 32,540 | 35.1 |
| Total capitalization | 92,602 | 100.0 |
2,680,110,496 shares outstanding at 15 July 2026 (cover page of the 10-Q filed 23 July 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, incl. current maturities | 57,387 |
| Long-term debt, noncurrent | 57,387 |
| Current maturities | 821 |
| Short-term borrowings / commercial paper | 2,675 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 3,600,000,000 |
| Par or stated value per share ($) | 0 |
| Preferred stock ($ millions) | 1,579 |
| Outstanding at 7/15/26 | 2,680,110,496 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | – | – |
| 2024 | – | – |
| 2023 | – | – |
| 2022 | – | – |
| 2021 | – | – |
HISTORY AND BUSINESS
HISTORY: Incorporated in California. Formerly known as PG&E PARENT CO INC (to 21 February 1996).
BUSINESS: Classified by the SEC under Standard Industrial Classification 4931, Electric & Other Services Combined. Large accelerated filer. Principal executive office: 300 Lakeside Drive, Oakland, CA 94612. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Operating revenues | 24,935 | 24,419 | 24,428 |
| Operation and maintenance | 11,349 | 11,808 | 11,924 |
| Operating income | 4,749 | 4,459 | 2,671 |
| Interest charges | 3,028 | 3,051 | 2,850 |
| Income before income taxes | 2,423 | 2,312 | 699 |
| Income taxes | (280) | (200) | (1,557) |
| Net income | 2,703 | 2,512 | 2,256 |
| Earned per share, diluted ($) | 1.18 | 1.15 | 1.05 |
| Dividends per share ($) | – | – | – |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 713 | 940 |
| Total current assets | 15,830 | 17,216 |
| Regulatory assets | 15,981 | 15,561 |
| Total assets | 141,611 | 133,660 |
| Total current liabilities | 16,300 | 16,330 |
| Long-term debt | 57,387 | 53,569 |
| Regulatory liabilities | 20,188 | 19,417 |
| Common stockholders' equity | 32,540 | 30,149 |
| Total capitalization and liabilities | 141,611 | 133,660 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 24,935 | 4,749 | 2,593 | 10.4 | 1.18 | – | 8,716 | 11,787 | (3,071) | 141,611 | 108,819d | 60,062 | 32,540 | 8.0 | 1.85 |
| 12/31/24 | 24,419 | 4,459 | 2,475 | 10.1 | 1.15 | – | 8,035 | 10,369 | (2,334) | 133,660 | 103,259d | 55,092 | 30,149 | 8.2 | 1.83 |
| 12/31/23 | 24,428 | 2,671 | 2,242 | 9.2 | 1.05 | – | 4,747 | 9,714 | (4,967) | 125,698 | 100,406d | 54,946 | 25,040 | 9.0 | 2.19 |
| 12/31/22 | 21,680 | 1,837 | 1,800 | 8.3 | 0.84 | – | 3,721 | 9,584 | (5,863) | 118,644 | 95,569d | 49,797 | 22,823 | 7.9 | 2.18 |
| 12/31/21 | 20,642 | 1,883 | (102) | -0.5 | (0.05) | – | 2,262 | 7,689 | (5,427) | 103,327 | 82,104d | 44,890 | 20,971 | -0.5 | 2.14 |
| 12/31/20 | 18,469 | 1,755 | (1,318) | -7.1 | (1.05) | – | (19,130) | 7,690 | (26,820) | 97,856 | 76,603d | 40,863 | 21,001 | -6.3 | 1.95 |
| 12/31/19 | 17,129 | (10,094) | (7,656) | -44.7 | (14.50) | – | 4,816 | 6,313 | (1,497) | 85,196 | 79,808d | 0 | 5,136 | -149.1 | 0.00 |
| 12/31/18 | 16,759 | (9,700) | (6,851) | -40.9 | (13.25) | – | 4,752 | 6,514 | (1,762) | 76,995 | 64,092d | 44,069 | 12,651 | -54.2 | 3.48 |
| 12/31/17 | 17,135 | 2,905 | 1,646 | 9.6 | 3.21 | – | 5,977 | 5,641 | 336 | 68,012 | 48,540d | 1,281 | 19,220 | 8.6 | 0.07 |
| 12/31/16 | 17,666 | 2,080 | 1,393 | 7.9 | 2.78 | – | 4,409 | 5,709 | (1,300) | 68,598 | 50,406d | 1,868 | 17,940 | 7.8 | 0.10 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
PG&E Corp
CIK 1004980 · EIN 94-3234914
PRINCIPAL OFFICE:
300 Lakeside Drive, Oakland, CA 94612
Tel.: 4159731000
INCORPORATED:
California
INDUSTRY (SEC SIC CODE):
4931 · Electric & Other Services Combined
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 12 February 2026
FORMER NAMES:
PG&E CORP; PG&E Corp; PG&E PARENT CO INC
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/12/26) · 10-K FY2024 (filed 2/13/25) · 10-K FY2023 (filed 2/22/24) · 10-K FY2022 (filed 2/23/23) · 10-K FY2021 (filed 2/10/22) · 10-K FY2020 (filed 2/25/21) · 10-K FY2019 (filed 2/18/20) · 10-K FY2018 (filed 2/28/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.