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PG&E PCG Regulatory liabilities

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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$37.04B+21.3%
Enterprise value$97.87B+14.0%
P/E12.5×0.0×
P/S1.4×+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:RegulatoryLiabilityNoncurrent.

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 regulatory liabilities?
PG&E (PCG) reported regulatory liabilities of $20.27B in Q1 2026.
How has PG&E's regulatory liabilities changed year-over-year?
PG&E's regulatory liabilities increased by 3.2% year-over-year, from $19.64B to $20.27B.
What is the long-term trend for PG&E's regulatory liabilities?
Over 5 years (2020 to 2025), PG&E's regulatory liabilities has grown at a 14.1% compound annual growth rate (CAGR), from $10.42B to $20.19B.
What does regulatory liabilities mean?
These are obligations arising from regulatory requirements that necessitate the company to refund or credit ratepayers in future periods. They often result from differences between the timing of cost recovery and the actual incurrence of expenses as mandated by utility commissions. This metric is vital for understanding the company's future cash flow adjustments and regulatory environment.