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PG&E PCG Natural Gas, US Regulated — Regulatory balancing accounts

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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%
CapEx$3.4B+27.4%
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 pcg:RevenueFromContractWithCustomerIncreaseDecreaseRegulatoryBalancingAccounts.

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 natural gas, US regulated — regulatory balancing accounts?
PG&E (PCG) reported natural gas, US regulated — regulatory balancing accounts of -$102M in Q1 2026.
How has PG&E's natural gas, US regulated — regulatory balancing accounts changed year-over-year?
PG&E's natural gas, US regulated — regulatory balancing accounts increased by 85.1% year-over-year, from -$686M to -$102M.
What does natural gas, US regulated — regulatory balancing accounts mean?
This metric represents the net balance of deferred revenues or costs that are subject to future recovery from or refund to customers under regulatory mechanisms. It acts as a bridge between actual costs incurred and the authorized revenue requirements set by utility commissions. These accounts ensure that the utility is made whole for specific fluctuations in costs, such as commodity price changes, that are passed through to ratepayers.