Also trades as: PCGU (NYSE) · $vol 26M · 0QR3.L (LSE) · $vol 0M · PCG-PD (AMEX) · $vol 0M · PCG6.F (FSX) · $vol 0M
PCG NYSE
PG&E Corporation
1W: -2.1%
1M: +4.6%
3M: -27.7%
YTD: -21.0%
1Y: -21.2%
3Y: -19.2%
5Y: +17.6%
$12.96
+0.11 (+0.86%)
Weekly Expected Move ±3.7%
$12
$12
$13
$13
$14
Credit Risk of going bust: higher than 66% of companies Debt: 65.5% of company value Bonds: $2.50B held by 986 funds, 102 bp over Treasuries → details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.22 (down 91%), PG&E Corporation would be worth roughly what it owes.
Total debt $65.48B against a stock market value of $34.44B.
Distance to default 3.78 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $34.35B (short-term plus half of long-term), stock volatility 36.1%; Altman Z'' 0.65. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $1.22 (down 91%), PG&E Corporation would be worth roughly what it owes.
Total debt $65.48B against a stock market value of $34.44B.
Distance to default 3.78 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $34.35B (short-term plus half of long-term), stock volatility 36.1%; Altman Z'' 0.65. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Operating Cash Flow
$8.7B
+8.5% ▲
Capital Expenditures
$11.8B
-13.7% ▼
5Y CAGR: +8.9%
Free Cash Flow
-$3.1B
-31.6% ▼
Dividends Paid
$317M
-268.6% ▼
Buybacks
$0
+0.0% ▲
Net Change in Cash
-$241M
-185.8% ▼
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | -$88M | $1.8B | $2.3B | $2.5B | $2.7B |
| Depreciation & Amort. | $3.9B | $4.3B | $4.3B | $4.6B | $5.0B |
| Stock-Based Comp. | $0 | $0 | $0 | $0 | $0 |
| Change in Working Capital | -$3.5B | -$2.5B | -$1.4B | -$614M | -$139M |
| Other Non-Cash Items | $196M | $491M | $342M | $467M | $108M |
| Operating Cash Flow | $2.3B | $3.7B | $4.7B | $8.0B | $8.7B |
| — Investing Activities — | |||||
| Capital Expenditures | -$7.7B | -$9.6B | -$9.7B | -$10.4B | -$11.8B |
| Acquisitions (Net) | $749M | $0 | $0 | $0 | $0 |
| Investment Purchases | -$1.7B | -$4.2B | -$2.3B | -$3.4B | -$4.1B |
| Investment Sales | $1.7B | $3.6B | $2.8B | $2.4B | $3.6B |
| Other Investing | $59M | $34M | $13M | $35M | $22M |
| Investing Cash Flow | -$6.9B | -$10.2B | -$9.2B | -$11.4B | -$12.3B |
| — Financing Activities — | |||||
| Net Debt Issuance | $4.0B | $7.1B | $4.4B | $1.1B | $3.8B |
| Stock Repurchased | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | -$86M | -$317M |
| Other Financing | $341M | $53M | -$17M | -$59M | -$87M |
| Financing Cash Flow | $4.3B | $7.1B | $4.4B | $3.6B | $3.4B |
| Net Change in Cash | -$320M | $640M | -$15M | $281M | -$241M |
| Cash End of Period | $307M | $947M | $932M | $1.2B | $972M |
| Free Cash Flow | -$5.4B | -$5.9B | -$5.0B | -$2.3B | -$3.1B |