PG&E Corp
PCG, PCG-PE, PCG-PD, PCG-PC, PCG-PH, PCG-PG, PCG-PI, PCG-PA, PCG-PB, PCG-PX · Electric & Other Services Combined · 2.68B shares · +42%/yr ↑ dilution · EDGAR filings ↗
Reference price $16.68 · est. market cap ~$44.7B — last insider sale, 2026-06-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D47Below-average regulated utility with bottom-quartile returns, high leverage and lingering wildfire liability overhang.
Strengths
- Adequate liquidity (current/quick ~0.97, cash at 82nd pct) and strong OCF margin (82nd)
- Net income still growing modestly (+7.6%)
Risks
- Weak returns: ROE 8.3% (25th pct), ROA 15.8th, ROIC 15.4th — bottom quartile
- High leverage (D/E 1.76, 85th pct) and large negative FCF (-$3.1B) plus structural wildfire risk
Notable findings
- Cash burnNegative free cash flow (-3071.0M)
- Weak liquidityCurrent ratio 0.97 (<1)
- Chronic dilutionShare count +42%/yr over 4y (dilution, book value/share -62%)
- Insider sellingInsider selling — 10 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$5M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
19.0%
Net margin
10.8%
Return on equity
8.3%
Return on assets
1.9%
ROIC
4.2%
Revenue growth (QoQ)
1.1%
Net-income growth
7.6%
Debt / equity
1.8×
Current ratio
1.0×
Free cash flow
-$3.1B
Tangible book value
$32.5B
Cash & investments
$713M
Cash runway
1q
Stock comp / revenue
0.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Peterman Carla J | Sell | 32K | $16.68 |
| 2026-06-05 | FERGUSON III MARK E | Gift | 11K | — |
| 2026-06-05 | FERGUSON III MARK E | Gift | 11K | — |
| 2026-06-02 | Cooper Kerry Whorton | Sell | 1.2K | $16.50 |
| 2026-05-21 | Campbell Cheryl F. | Grant | 11K | — |
| 2026-05-21 | Denecour Jessica | Grant | 11K | — |
| 2026-05-21 | Wilson Benjamin Francis | Grant | 11K | — |
| 2026-05-21 | Smith William Lloyd | Grant | 11K | — |
| 2026-05-21 | LARSEN JOHN O | Grant | 11K | — |
| 2026-05-21 | Harris Arno Lockheart | Grant | 11K | — |
| 2026-05-21 | Fugate William Craig | Grant | 11K | — |
| 2026-05-21 | FERGUSON III MARK E | Grant | 11K | — |
| 2026-05-21 | DENAULT LEO P | Grant | 11K | — |
| 2026-05-21 | HERNANDEZ CARLOS M | Grant | 11K | — |
| 2026-05-21 | Cooper Kerry Whorton | Grant | 18K | — |
| 2026-05-21 | Cannizzaro Edward G | Grant | 11K | — |
| 2026-05-21 | Bahri Rajat | Grant | 11K | — |
| 2026-04-28 | Glickman Jason M | Sell | 47K | $16.35 |
| 2026-04-28 | Poppe Patricia K | Sell | 31K | $16.39 |
| 2026-03-17 | Cooper Kerry Whorton | Sell | 2.5K | $18.68 |
| 2026-03-16 | Burke Carolyn Jeanne | Tax withheld | 80K | $18.14 |
| 2026-03-16 | Burke Carolyn Jeanne | Grant | 145K | — |
| 2026-03-16 | Peterman Carla J | Sell | 32K | $18.31 |
| 2026-03-05 | Singh Sumeet | Sell | 56K | $18.32 |
| 2026-03-04 | Poppe Patricia K | Grant | 4.0K | — |
| 2026-03-03 | Singh Sumeet | Tax withheld | 8.7K | $19.11 |
| 2026-03-03 | Poppe Patricia K | Tax withheld | 40K | $19.11 |
| 2026-03-03 | Poppe Patricia K | Gift | 32K | — |
| 2026-03-03 | Poppe Patricia K | Grant | 32K | — |
| 2026-03-03 | Waghray Ajay | Tax withheld | 3.1K | $19.11 |
| 2026-03-03 | Williams Stephanie N | Tax withheld | 1.1K | $19.11 |
| 2026-03-03 | Vallejo Alejandro T | Tax withheld | 1.1K | $19.11 |
| 2026-03-03 | SIMON JOHN R | Tax withheld | 5.5K | $19.11 |
| 2026-03-03 | Burke Carolyn Jeanne | Tax withheld | 4.1K | $19.11 |
| 2026-03-03 | Santos Marlene | Tax withheld | 8.7K | $19.11 |
| 2026-03-03 | Glickman Jason M | Tax withheld | 5.9K | $19.11 |
| 2026-03-03 | Peterman Carla J | Tax withheld | 5.9K | $19.11 |
| 2026-03-02 | SIMON JOHN R | Grant | 31K | — |
| 2026-03-02 | Poppe Patricia K | Grant | 200K | — |
| 2026-03-02 | Peterman Carla J | Grant | 31K | — |
| 2026-03-02 | SIMON JOHN R | Gift | 5.2K | — |
| 2026-03-02 | SIMON JOHN R | Grant | 5.2K | — |
| 2026-03-02 | Singh Sumeet | Grant | 41K | — |
| 2026-03-02 | Waghray Ajay | Grant | 16K | — |
| 2026-03-02 | Burke Carolyn Jeanne | Grant | 41K | — |
| 2026-03-02 | Williams Stephanie N | Grant | 7.4K | — |
| 2026-03-02 | Glickman Jason M | Grant | 27K | — |
| 2026-03-02 | Vallejo Alejandro T | Grant | 12K | — |
| 2026-03-02 | Santos Marlene | Grant | 41K | — |
| 2026-03-01 | Waghray Ajay | Tax withheld | 38K | $19.00 |
| 2026-03-01 | Waghray Ajay | Grant | 83K | — |
| 2026-03-01 | Singh Sumeet | Grant | 217K | — |
| 2026-03-01 | Singh Sumeet | Tax withheld | 112K | $19.00 |
| 2026-03-01 | Williams Stephanie N | Grant | 37K | — |
| 2026-03-01 | Williams Stephanie N | Tax withheld | 15K | $19.00 |
| 2026-03-01 | Vallejo Alejandro T | Grant | 15K | — |
| 2026-03-01 | Vallejo Alejandro T | Tax withheld | 8.4K | $19.00 |
| 2026-03-01 | Poppe Patricia K | Grant | 895K | — |
| 2026-03-01 | Poppe Patricia K | Tax withheld | 487K | $19.00 |
| 2026-03-01 | Poppe Patricia K | Gift | 408K | — |
| 2026-03-01 | Poppe Patricia K | Gift | 408K | — |
| 2026-03-01 | SIMON JOHN R | Grant | 146K | — |
| 2026-03-01 | SIMON JOHN R | Tax withheld | 93K | $19.00 |
| 2026-03-01 | SIMON JOHN R | Gift | 89K | — |
| 2026-03-01 | SIMON JOHN R | Gift | 89K | — |
| 2026-03-01 | Santos Marlene | Grant | 217K | — |
| 2026-03-01 | Santos Marlene | Tax withheld | 112K | $19.00 |
| 2026-03-01 | Glickman Jason M | Grant | 146K | — |
| 2026-03-01 | Glickman Jason M | Tax withheld | 73K | $19.00 |
| 2026-03-01 | Peterman Carla J | Grant | 125K | — |
| 2026-03-01 | Peterman Carla J | Tax withheld | 75K | $19.00 |
| 2026-02-19 | SIMON JOHN R | Sell | 46K | $18.00 |
| 2026-02-18 | SIMON JOHN R | Sell | 4.4K | $18.01 |
| 2026-02-18 | Poppe Patricia K | Sell | 31K | $17.90 |
| 2025-11-04 | LARSEN JOHN O | Buy | 7.5K | $15.96 |
| 2025-10-30 | Glickman Jason M | Sell | 29K | $15.95 |
| 2025-10-28 | Vallejo Alejandro T | Grant | 5.6K | — |
| 2025-08-11 | FERGUSON III MARK E | Sell | 7.0K | $15.15 |
| 2025-05-22 | Cannizzaro Edward G | Grant | 11K | — |
| 2025-05-22 | HERNANDEZ CARLOS M | Grant | 11K | — |
| 2025-05-22 | Campbell Cheryl F. | Grant | 11K | — |
| 2025-05-22 | Harris Arno Lockheart | Grant | 11K | — |
| 2025-05-22 | Bahri Rajat | Grant | 11K | — |
| 2025-05-22 | Fugate William Craig | Grant | 11K | — |
| 2025-05-22 | Smith William Lloyd | Grant | 11K | — |
| 2025-05-22 | LARSEN JOHN O | Grant | 11K | — |
| 2025-05-22 | Cooper Kerry Whorton | Grant | 17K | — |
| 2025-05-22 | FERGUSON III MARK E | Grant | 11K | — |
| 2025-05-22 | DENAULT LEO P | Grant | 11K | — |
| 2025-05-22 | Denecour Jessica | Grant | 11K | — |
| 2025-05-22 | Wilson Benjamin Francis | Grant | 11K | — |
| 2025-04-29 | Peterman Carla J | Sell | 33K | $17.30 |
| 2025-03-16 | Burke Carolyn Jeanne | Tax withheld | 5.0K | $16.78 |
| 2025-03-11 | DENAULT LEO P | Buy | 6.3K | $15.96 |
| 2025-03-10 | Glickman Jason M | Sell | 40K | $15.71 |
| 2025-03-06 | Williams Stephanie N | Sell | 15K | $16.21 |
| 2025-03-04 | Santos Marlene | Sell | 126K | $16.37 |
| 2025-03-04 | Peterman Carla J | Sell | 33K | $16.37 |
| 2025-03-03 | Williams Stephanie N | Grant | 8.2K | — |
| 2025-03-03 | SIMON JOHN R | Grant | 32K | — |
| 2025-03-03 | Singh Sumeet | Grant | 47K | — |
| 2025-03-03 | Glickman Jason M | Grant | 32K | — |
| 2025-03-03 | Peterman Carla J | Grant | 32K | — |
| 2025-03-03 | Santos Marlene | Grant | 47K | — |
| 2025-03-03 | Waghray Ajay | Grant | 18K | — |
| 2025-03-03 | Poppe Patricia K | Grant | 217K | — |
| 2025-03-03 | Burke Carolyn Jeanne | Grant | 33K | — |
| 2025-03-03 | Awada Kaled | Grant | 32K | — |
| 2025-03-01 | Williams Stephanie N | Tax withheld | 10K | $16.34 |
| 2025-03-01 | SIMON JOHN R | Gift | 96K | — |
| 2025-03-01 | Peterman Carla J | Grant | 125K | — |
| 2025-03-01 | Peterman Carla J | Tax withheld | 60K | $16.34 |
| 2025-03-01 | Singh Sumeet | Grant | 175K | — |
| 2025-03-01 | Singh Sumeet | Tax withheld | 87K | $16.34 |
| 2025-03-01 | Glickman Jason M | Grant | 175K | — |
| 2025-03-01 | Glickman Jason M | Tax withheld | 88K | $16.34 |
| 2025-03-01 | Williams Stephanie N | Grant | 21K | — |
| 2025-03-01 | SIMON JOHN R | Tax withheld | 97K | $16.34 |
| 2025-03-01 | Santos Marlene | Grant | 260K | — |
| 2025-03-01 | Santos Marlene | Tax withheld | 134K | $16.34 |
| 2025-03-01 | SIMON JOHN R | Grant | 175K | — |
| 2025-03-01 | Waghray Ajay | Grant | 85K | — |
| 2025-03-01 | Waghray Ajay | Tax withheld | 38K | $16.34 |
| 2025-03-01 | Poppe Patricia K | Grant | 950K | — |
| 2025-03-01 | Poppe Patricia K | Tax withheld | 515K | $16.34 |
| 2025-03-01 | Poppe Patricia K | Gift | 435K | — |
| 2025-03-01 | SIMON JOHN R | Gift | 96K | — |
| 2025-03-01 | Poppe Patricia K | Gift | 435K | — |
| 2025-02-27 | Awada Kaled | Tax withheld | 12K | $16.04 |
| 2025-02-25 | HERNANDEZ CARLOS M | Buy | 3.1K | $15.91 |
| 2025-02-25 | Bahri Rajat | Buy | 3.2K | $15.79 |
| 2025-02-21 | Denecour Jessica | Buy | 1.3K | $15.79 |
| 2025-02-20 | Harris Arno Lockheart | Buy | 6.4K | $15.66 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-23 | Material agreementOtherExhibits | filing ↗ |
| 2026-06-03 | OtherExhibits | filing ↗ |
| 2026-05-26 | Shareholder vote | filing ↗ |
| 2026-04-23 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-20 | OtherExhibits | filing ↗ |
| 2026-02-19 | OtherExhibits | filing ↗ |
| 2026-02-12 | ResultsReg FDExhibits | filing ↗ |
| 2025-12-17 | Exec/director change5.03OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-22 | 0001193125-26-279461 ↗ |
| 8-K | 2026-06-03 | 2026-06-01 | 0001193125-26-255485 ↗ |
| 8-K | 2026-05-26 | 2026-05-21 | 0001999371-26-011451 ↗ |
| 10-Q | 2026-04-23 | 2026-03-31 | 0001004980-26-000033 ↗ |
| 8-K | 2026-04-23 | 2026-04-23 | 0001004980-26-000032 ↗ |
| 8-K | 2026-02-20 | 2026-02-18 | 0001193125-26-061381 ↗ |
| 8-K | 2026-02-19 | 2026-02-17 | 0001193125-26-059497 ↗ |
| 10-K | 2026-02-12 | 2025-12-31 | 0001004980-26-000009 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0001004980-26-000008 ↗ |
| 8-K | 2025-12-17 | 2025-12-11 | 0001999371-25-020477 ↗ |
| 8-K | 2025-10-23 | 2025-10-23 | 0001004980-25-000147 ↗ |
| 10-Q | 2025-10-23 | 2025-09-30 | 0001004980-25-000148 ↗ |