PG&E Corp. (PCG) intrinsic value & 10-year financials
PG&E Corp. (PCG) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 3.9% a year to $24.9B, with an average return on invested capital of -0.3%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $13.09
- Market cap
- $28.8B
- Revenue (FY2025)
- $24.9B
- Revenue growth (10-yr CAGR)
- 3.9%
- ROIC (10-yr avg)
- -0.3%
- Free cash flow (FY2025)
- -$3.1B
PCG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $24.9B | $2.7B | $1.18 | -$3.1B | 19.0% | 5.4% |
| FY2024 | $24.4B | $2.5B | $1.15 | -$2.3B | 18.3% | 5.5% |
| FY2023 | $24.4B | $2.3B | $1.05 | -$5.0B | 10.9% | 3.5% |
| FY2022 | $21.7B | $1.8B | $0.84 | -$5.9B | 8.5% | 2.7% |
| FY2021 | $20.6B | -$88.0M | -$0.05 | -$5.4B | 9.1% | 1.5% |
| FY2020 | $18.5B | -$1.3B | -$1.05 | -$26.8B | 9.5% | 5.5% |
| FY2019 | $17.1B | -$7.6B | -$14.50 | -$1.5B | -58.9% | -24.5% |
| FY2018 | $16.8B | -$6.8B | -$13.25 | -$1.8B | -57.9% | -14.8% |
| FY2017 | $17.1B | $1.7B | $3.21 | $336.0M | 17.3% | 6.3% |
| FY2016 | $17.7B | $1.4B | $2.78 | -$1.3B | 12.3% | 6.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
PG&E Corporation has demonstrated mature, steady growth, with revenue compounding at 3.9% annually over the past decade.
PG&E Corporation has historically struggled to out-earn its cost of capital, averaging just -0.3% ROIC.
Over the decade, PG&E Corporation shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, PG&E Corporation is modeled at -9.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-9.83 per share.