PG&E Corporation (PCG)
Utilities · Regulated electric and natural gas utility
California's largest energy utility delivering electricity and natural gas to 16 million people across Northern and Central California.
What PG&E Corporation does
PG&E Corporation is a holding company whose primary operating subsidiary, Pacific Gas and Electric Company, is a public utility that generates, transmits, and distributes electricity and natural gas across Northern and Central California to millions of customers. The Utility's revenues are determined through regulatory ratemaking proceedings, with rates reflecting the cost of purchased power, fuel, natural gas procurement and transportation, and capital investments in system hardening and wildfire mitigation. The company operates under a triple bottom line framework balancing people, planet, and prosperity through workforce safety, environmental stewardship, and customer value delivery.
Themes: ["Wildfire mitigation and climate resilience","Grid modernization and electrification","Renewable energy integration","Regulated utility operations","California energy infrastructure","Decarbonization","Utility safety and reliability","Cost recovery and regulatory proceedings"]
Fundamentals
- Price$17.18 as of 2026-07-09 close
- Market cap$37.9B as of 2026-07-10
- 1-year return+27.1% as of 2026-07-09 close
- P/E12.82 as of 2026-07-10
- Net margin+11.4% as of 2026-07-10
- Gross margin+35.9% as of 2026-07-10
- ROE+9.2% as of 2026-07-10
- Debt / equity1.88 as of 2026-07-10
- Revenue growth (YoY)+5.3% as of 2026-07-10
- Revenue CAGR (3y)+4.8% SEC XBRL
- Beta0.29 as of 2026-07-10
Dividend: yield +1.2%; 1-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Wildfire liability exposure: accumulated liabilities of $3.875 billion from 2019-2022 fires with estimates not including all damage categories; Wildfire Fund and Continuation Account may be depleted faster than expected, leaving unrecovered costs.","Regulatory and cost recovery uncertainty: extent of recovery for wildfire mitigation expenditures and capital investments depends on outcomes of ratemaking proceedings; potential fines, penalties, and enforcement action for non-compliance with wildfire mitigation requirements.","Climate change and operational disruption: increased frequency of extreme weather, extended seasonal dryness, high wind velocities, and severe storms heighten wildfire risk despite extensive mitigation measures; catastrophic wildfires could cause damages beyond the company's ability to control or predict."]
Competitors & peers
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.