PG&E Corporation (PCG)财务
NYSE · Utilities · Regulated Electric · 员工29,010人 · CEO Patricia Kessler Poppe
- 股价
- $13.18 -0.38%
- 市值
- $353亿
- 企业价值
- $999亿
- 最近财报
- Q3 '26 2026-10-22提交
- 下次财报
- 2027-02-11 EPS预期 $0.40
营收(TTM)$258亿+4.1% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)20.2%+1.5 百分点 对比去年同期营业利润 $52.1亿
净利润(TTM)$30.9亿+14.2% 对比去年同期税后,含营业外收益
自由现金流(TTM)-$49.8亿-79.6% 对比去年同期资本支出 $128亿
稀释EPS(TTM)$1.35+14.4% 对比去年同期最近4个季度之和
净现金-$646亿-9.4% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $353亿 EV $999亿
- 营收
- $258亿 过去12个月
- 营收增速
- +5% FY2026年一致预期
- 净利润率
- 12.0% 净利润 / 营收,TTM
- P/E
- 9.8× 预期 8.0×(FY2026)
- P/S
- 1.4× 股价 / 营收,TTM
- EV / EBITDA
- 9.1× TTM
- 自由现金流
- -$49.8亿 过去12个月
- 净利润
- $30.9亿 过去12个月
- 营收预期
- $261亿 FY2026年一致预期
- 盈利
- 2027-02-11 营收预期 $69亿
- 股息
- $0.18 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-22):营收低于预期9.3%,EPS 低于预期0.8%营收$61.9亿,预期$68.2亿(-9.3%);EPS $0.41,预期$0.41(-0.8%)。
- 营收增长放缓:同比-1.0%Q3 '26营收$61.9亿,此前四个季度的平均值为5.7%。
- 营业利润率20.2%(TTM),较去年同期+1.5 百分点营收增长4.1%,营业利润增长12.7%。
- 税前利润的85.2%被营业外亏损吞噬税前利润$28.1亿,营业利润$52.1亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的49.6%(去年为46.3%)最近4个季度投入$128亿(同比+11.5%)。自由现金流-$49.8亿,相当于净利润的-161.0%。
- 稀释股数一年内增加0.2%Q3 '26稀释股数22.9亿,一年前为22.8亿。
- 净债务 $646亿现金 + 短期投资 $9.02亿,含租赁债务 $655亿;一年前净债务 $590亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $61.9亿 | $62.5亿 | -1.0% |
| 毛利率 | 83.6% | 39.4% | +44.2 百分点 |
| 营业利润 | $12.5亿 | $12.1亿 | +3.3% |
| 营业利润率 | 20.2% | 19.3% | +0.8 百分点 |
| 净利润 | $7.76亿 | $8.5亿 | -8.7% |
| 稀释EPS | $0.34 | $0.36 | -5.6% |
| 经营现金流 | $25亿 | $28.5亿 | -12.2% |
| 资本支出 | $33亿 | $29.3亿 | +12.5% |
| 自由现金流 | -$7.94亿 | -$8000万 | -892.5% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $0 | – |
实际 vs 一致预期
2026-10-22| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $61.9亿 | $68.2亿 | -9.3% |
| EPS(一致预期口径) | $0.41 | $0.41 | -0.8% |
来自2026-10-22发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Electricity | $54.8亿 | -6.3% | 78.2% | $192亿 | +4.3% | |
| Natural Gas, US Regulated | $15.3亿 | +2.2% | 21.8% | $63.1亿 | -8.4% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $78亿
- 资本支出
- -$128亿
- 股票回购
- $0
- 股息
- -$3.84亿
- 收购
- $0
- 债务净发行
- $57.8亿
- 股权激励费用
- $0
- 自由现金流
- -$49.8亿
- 股东回报 / FCF
- -7.7%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 9.8× | 16.4× 5年中的4年 | 13.6× – 17.9× |
| EV / EBITDA | 9.1× | 11.0× | 9.2× – 12.7× |
| EV / 营收 | 3.9× | 3.8× | 3.4× – 4.1× |
| 股价 / FCF | -7.1× | – | – |
| 股价 / 净资产 | 0.8× | 1.3× | 1.1× – 1.5× |
| FCF收益率 | -14.1% | -13.6% | -22.5% – -5.4% |
| 投入资本回报率 | 3.8% | 2.6% | -0.3% – 3.8% |
| 净资产收益率 | 9.2% | 6.6% | -0.4% – 9.0% |
分析师
一致目标价 $17.55 (+33.2%)
区间 $13.00 – $22.00 · 评级 Hold
强烈买入0
买入12
持有17
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $261亿 | +4.6% | $1.65 | +39.6% | 8.0× | 11 |
| FY2027 | $271亿 | +3.8% | $1.80 | +9.4% | 7.3× | 11 |
| FY2028 | $281亿 | +3.6% | $1.97 | +9.3% | 6.7× | 7 |
| FY2029 | $286亿 | +2.0% | $2.12 | +7.7% | 6.2× | 2 |
| FY2030 | $297亿 | +3.8% | $2.33 | +9.7% | 5.7× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
PG&E Corporation在近期10-Q / 10-K文件中标记的全部202项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Other, Current | $9.15亿 | $8.62亿 | +6.1% | $9.29亿 | $7.48亿 | +24.2% |
| Accounts Payable, Trade, Current | $30.1亿 | $26.6亿 | +13.0% | $33.5亿 | $27.5亿 | +22.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $18.8亿 | $20.3亿 | -7.0% | $22.7亿 | $22.2亿 | +2.1% |
| Accounts Receivable, Allowance for Credit Loss, Current | $4.02亿 | $4.04亿 | -0.5% | $4.08亿 | $4.18亿 | -2.4% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $3000万 | $1.41亿 | -78.7% | $4.02亿 | $3.41亿 | +17.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$3300万 | -$400万 | -725.0% | -$2500万 | -$1900万 | -31.6% |
| Allowance for Doubtful Other Receivables, Current | $1900万 | $8900万 | -78.7% | $6900万 | $3500万 | +97.1% |
| Asset Retirement Obligation | $54.4亿2025-12-31 | $54.4亿 | -0.1% | $54.4亿 | $54.4亿 | -0.1% |
| Asset Retirement Obligation, Accretion Expense | – | – | – | $2.9亿 | $2.69亿 | +7.8% |
| Asset Retirement Obligation, Liabilities Settled | – | – | – | $2100万 | $4700万 | -55.3% |
| Asset Retirement Obligation, Revision of Estimate | – | – | – | -$2.74亿 | -$2.9亿 | +5.5% |
| Asset Retirement Obligations, Noncurrent | $55.8亿 | $55亿 | +1.5% | $54.4亿 | $54.4亿 | -0.1% |
| Assets | $1450亿 | $1360亿 | +6.4% | $1420亿 | $1340亿 | +5.9% |
| Assets, Current | $154亿 | $152亿 | +1.6% | $158亿 | $172亿 | -8.1% |
| Assets, Fair Value Disclosure | $85.2亿 | $77.8亿 | +9.5% | $82.7亿 | $74亿 | +11.8% |
| Capital Expenditures Incurred but Not yet Paid | $1.91亿 | $1.05亿 | +81.9% | $18.6亿 | $11.4亿 | +62.5% |
| Cash and Cash Equivalents, at Carrying Value | $9.72亿 | $4.94亿 | +96.8% | $7.13亿 | $9.4亿 | -24.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $12.2亿 | $7.15亿 | +70.8% | $9.72亿 | $12.1亿 | -19.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$2.69亿 | -$16.9亿 | +84.1% | -$2.41亿 | $2.81亿 | -185.8% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | – | $0.00 | $0.00 | – |
| Common Stock, Shares Authorized | 36亿 | 36亿 | 0.0% | 36亿 | 36亿 | 0.0% |
| Common Stock, Shares, Outstanding | 22亿 | 22亿 | +0.2% | 22亿 | 21.9亿 | +0.2% |
| Common Stock, Value, Issued | $316亿 | $316亿 | +0.2% | $316亿 | $316亿 | +0.3% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $7.59亿 | $5.57亿 | +36.3% | $27亿 | $25.1亿 | +7.6% |
| Construction in Progress, Gross | $48.1亿 | $46.4亿 | +3.8% | $46.3亿 | $44.6亿 | +3.8% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$100万 | $200万 | -150.0% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $5000万 | -$7800万 | +164.1% |
| Decommissioning Fund Investments | $44.3亿 | $40.2亿 | +10.2% | $42.3亿 | $38.3亿 | +10.4% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$2.25亿 | -$1.37亿 | -64.2% |
| Deferred Income Tax Liabilities, Net | $47.2亿 | $35.5亿 | +32.9% | $41.4亿 | $30.8亿 | +34.2% |
| Deferred Income Taxes and Tax Credits | $2.91亿 | $3.1亿 | -6.1% | $10.6亿 | $11亿 | -3.6% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$1.02亿 | $1500万 | -780.0% |
| Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | – | – | – | 5.7% | 5.1% | +11.8% |
| Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.5%2025-12-31 | 4.5% | 0.0% | 4.5% | 4.5% | 0.0% |
| Derivative Asset | $3.3亿2025-09-30 | $3.48亿 | -5.2% | $4.03亿2024-12-31 | $4.56亿 | -11.6% |
| Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | -$200万 | $100万 | -300.0% | -$5200万 | -$1600万 | -225.0% |
| Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | $3000万 | $1100万 | +172.7% | $5200万 | $1600万 | +225.0% |
| Dividends, Common Stock | $1.11亿 | $5600万 | +98.2% | $2.77亿 | $1.2亿 | +130.8% |
| Dividends, Preferred Stock | $2800万 | $2800万 | 0.0% | $1.1亿 | $3700万 | +197.3% |
| Earnings Per Share, Basic | $0.33 | $0.24 | +37.5% | $1.18 | $1.16 | +1.7% |
| Earnings Per Share, Diluted | $0.33 | $0.24 | +37.5% | $1.18 | $1.15 | +2.6% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | $4.86亿 | $4.78亿 | +1.7% |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | – | – | – | $1800万 | -$2000万 | +190.0% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | – | – | – | 0.8% | -0.9% | +188.9% |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount | – | – | – | $5100万 | $1900万 | +168.4% |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent | – | – | – | 2.2% | 0.8% | +175.0% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | – | – | – | $1900万 | $100万 | +1,800.0% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | – | – | – | 0.9% | 0.1% | +800.0% |
| Effective Income Tax Rate Reconciliation, Percent | – | – | – | -12.1% | -8.8% | -37.5% |
| Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | – | – | – | -$4100万 | -$4500万 | +8.9% |
| Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | – | – | – | -1.8% | -2.0% | +10.0% |
| Effective Income Tax Rate Reconciliation, Tax Contingency, Amount | – | – | – | $300万 | $4600万 | -93.5% |
| Effective Income Tax Rate Reconciliation, Tax Contingency, Percent | – | – | – | 0.1% | 2.1% | -95.2% |
| Effective Income Tax Rate Reconciliation, Tax Credit, Amount | – | – | – | $2600万 | $2200万 | +18.2% |
| Effective Income Tax Rate Reconciliation, Tax Credit, Percent | – | – | – | 1.1% | 1.0% | +10.0% |
| Estimated Litigation Liability, Current | $1.93亿 | $1.93亿 | 0.0% | $1.93亿 | $1.93亿 | 0.0% |
| Finance Lease, Interest Expense | – | – | – | $1600万 | $4200万 | -61.9% |
| Finance Lease, Liability, Current | $02025-12-31 | $5.77亿 | -100.0% | $0 | $5.77亿 | -100.0% |
| Finance Lease, Liability, Noncurrent | $0 | $300万 | -100.0% | $200万 | $400万 | -50.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-02