What is PG&E's capex?

PG&E (PCG) reported capex of $3.36B in Q1 2026.

How has PG&E's capex changed year-over-year?

PG&E's capex increased by 27.4% year-over-year, from $2.64B to $3.36B.

What is the long-term trend for PG&E's capex?

Over 4 years (2021 to 2025), PG&E's capex has grown at a 11.3% compound annual growth rate (CAGR), from $7.69B to $11.79B.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

PG&E PCG CapEx

CapEx at other companies

Edison InternationalEIX

$1.54B+9.3%

Sempra EnergySRE

$2.46B+5.4%

Xcel EnergyXEL

$3.02B+52.0%

NorthWestern Energy Group, Inc.NWE

$116.08M+26.0%

BKH

Black HillsBKH

$267.4M+74.9%

CMS

CMS EnergyCMS

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Other financials

Income statement

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Revenue$6.9B+15.0%

Operating income$1.5B+20.5%

Net income$885.0M+39.6%

EPS (diluted)$0.39+39.3%

Balance sheet

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Cash & equivalents$1.5B-38.1%

Total debt$62.3B+12.8%

Total equity$33.3B+8.4%

Total assets$141.95B+4.8%

Cash flow

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Operating cash flow$2.4B-14.7%

Free cash flow-$926.0M-535%

Valuation

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Market cap$38.27B+23.0%

Enterprise value$99.1B+14.7%

P/E13×+0.2×

P/S1.5×+0.2×

Profitability

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Operating margin19.4%+1.4pp

Net margin11.4%+1.6pp

FCF margin-16.3%—

Returns & leverage

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Return on equity9.2%+0.7pp

Debt / equity1.9×+0.1×

Current ratio1.2×+0.3×

Where this comes from

Reported directly by PG&E in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: PG&E’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is PG&E's capex?: PG&E (PCG) reported capex of $3.36B in Q1 2026.
How has PG&E's capex changed year-over-year?: PG&E's capex increased by 27.4% year-over-year, from $2.64B to $3.36B.
What is the long-term trend for PG&E's capex?: Over 4 years (2021 to 2025), PG&E's capex has grown at a 11.3% compound annual growth rate (CAGR), from $7.69B to $11.79B.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.