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PG&E PCG Operating margin

Operating margin at other companies

Edison International logo
Edison InternationalEIX
30.8%+3.0pp
CMS
CMS EnergyCMS
19.5%-0.6pp
Exelon logo
ExelonEXC
20.8%+0.8pp
NorthWestern Energy Group, Inc. logo
NorthWestern Energy Group, Inc.NWE
19.2%-3.8pp
BKH
Black HillsBKH
23.4%+0.1pp
Entergy logo
EntergyETR
27.1%+8.4pp

Other financials

Income statement

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Revenue$5.9B+0.1%
Operating income$1.3B+15.2%
Net income$761.0M+38.6%
EPS (diluted)$0.33+37.5%

Balance sheet

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Cash & equivalents$1.2B+70.8%
Total debt$63.6B+13.6%
Total equity$33.9B+8.7%
Total assets$145.08B+6.4%

Cash flow

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Operating cash flow$906.0M-14.3%
CapEx$3.0B-3.2%
Free cash flow-$2.1B-2.6%

Valuation

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Market cap$38.28B+15.8%
Enterprise value$100.68B+13.9%
P/E12.1×-1.5×
P/S1.5×+0.1×

Profitability

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Net margin12.3%+2.3pp
FCF margin-16.5%

Returns & leverage

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Return on equity9.7%+1.2pp
Debt / equity1.9×+0.1×
Current ratio1.2×+0.3×

Where this comes from

Calculated from PG&E’s reported figures.

Based on trailing twelve months.

The source filing: PG&E’s 10-Q, filed July 23, 2026. Open the filing →

Filed
Jul 22, 2026, 8:00 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001004980-26-000048

FAQ

What is PG&E's operating margin?
PG&E (PCG) reported operating margin of 20% in Q2 2026.
How has PG&E's operating margin changed year-over-year?
PG&E's operating margin increased by 12.0% year-over-year, from 17.9% to 20%.
What is the long-term trend for PG&E's operating margin?
Over 5 years (2020 to 2025), PG&E's operating margin has grown at a 14.9% compound annual growth rate (CAGR), from 9.5% to 19%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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