Pacific Gas & Electric Co. (USD). For the year ended 31 December 2025, revenue was 24.94B, +2.1 % on the previous year, net income was 2.59B. Debt as of 30 June 2026 stood at 62.84B.
Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | 31/12/2025 | 31/12/2024 |
|---|---|---|
| Revenue | 24.94B | 24.42B |
| Operating income | 4.75B | 4.46B |
| Pre-tax income | 2.42B | 2.31B |
The series is stated in the current share scale after splits; dividends are not included in the price
PG&E powers Northern California and lives under the weight of wildfire liability.
The company went through bankruptcy after its lines caused catastrophic fires and compensation to victims exceeded its capital. The present structure grew out of that history: a state insurance fund sharing future losses, and a programme to move lines underground — the most expensive engineering task in the industry.
The economics nevertheless remain regulated: the tariff covers investment, and an enormous capital programme means fast growth of the rate base and therefore of profit. That is a rare pairing of high risk with high permitted growth. Risks: another major fire, state commission decisions and the political tolerance for further tariff increases on residents.
| Income tax | −280M | −200M |
| Net income | 2.59B | 2.48B |
| Earnings per share | 1.18 | 1.16 |
| Earnings per share, diluted | 1.18 | 1.15 |
| Weighted average shares | 2.20B | 2.14B |
| Weighted average shares, diluted | 2.20B | 2.15B |
| Metric | 30/06/2026 | 31/03/2026 | 31/12/2025 | 30/09/2025 | 30/06/2025 | 31/03/2025 | 31/12/2024 | 30/09/2024 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 972M | 1.13B | 713M | 404M | 494M | 2.02B | 1.21B | 895M |
| Receivables | 1.88B | 1.93B | 2.27B | 2.34B | 2.03B | 2.13B | 2.22B | 2.30B |
| Inventory | 70M | 68M | 75M | 74M | 73M | 45M | 52M | 51M |
| Current assets | 15.40B | 14.80B | 15.83B | 14.39B | 15.16B | 16.89B | 17.22B | 17.55B |
| Total assets | 145.08B | 141.95B | 141.61B | 138.25B | 136.38B | 135.44B | 133.66B | 132.32B |
| Current liabilities | 12.67B | 12.35B | 16.30B | 15.30B | 16.19B | 17.82B | 16.33B | 16.88B |
| Short-term debt | 1.08B | 622M | 821M | 2.77B | 3.64B | 4.70B | 2.15B | 2.13B |
| Long-term debt | 61.77B | 60.15B | 57.39B | 55.53B | 54.00B | 52.66B | 53.57B | 54.75B |
| Equity | 33.90B | 33.50B | 32.54B | 31.98B | 31.44B | 30.94B | 30.40B | 27.09B |
| Shares outstanding | 2.20B | 2.20B | 2.20B | 2.20B | 2.20B | 2.20B | 2.19B | 2.14B |
| Metric | 31/12/2025 | 31/12/2024 |
|---|---|---|
| Operating cash flow | 8.72B | 8.04B |
| Capital expenditure | 11.79B | 10.37B |
| Investing cash flow | −12.32B | −11.38B |
| Dividends paid | — | 86M |
| Financing cash flow | 3.36B | 3.62B |
A company's accounts come as three tables, and each answers its own question. The income statement shows what the company earned over a period: revenue at the top, costs below it and net income at the bottom, which is what is left for shareholders after tax. When revenue grows and net income does not, costs are growing faster, so it is worth finding out which line has moved.
The balance sheet is a snapshot on a single date: what the company owns and what it owes. Assets equal liabilities plus shareholders' equity. Debt is best judged against cash and earnings rather than on its own, because the same amount can be unremarkable for a large company and dangerous for a small one. Note that a balance sheet is published every quarter, so its date is often more recent than the date of the annual income statement.
The cash flow statement shows how much money actually came in. Net income is an accounting figure, while operating cash flow is what the business really collected. A healthy company usually brings in at least as much in cash as it reports on paper. Out of that flow it pays for equipment, pays dividends and buys back its own shares.
Every column carries the date its period ended, because companies close their financial years in different months. A dash means the company did not report that line, not that it equals zero: a bank, for example, has no cost of revenue. Annual figures give the overall picture, and quarterly ones reveal a turning point sooner, although they are more seasonal, so compare a quarter with the same quarter of the previous year.
Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator