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PG&E

DB:PCG
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PCG
DB
$10B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The last earnings update was 20 days ago. More info.


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  • PG&E has significant price volatility in the past 3 months.
PCG Share Price and Events
7 Day Returns
0.6%
DB:PCG
1.7%
Europe Electric Utilities
-0%
DE Market
1 Year Returns
-55.7%
DB:PCG
10.7%
Europe Electric Utilities
-11.5%
DE Market
PCG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PG&E (PCG) 0.6% -14.4% 2.6% -55.7% -68.8% -50%
Europe Electric Utilities 1.7% 3% 4% 10.7% 26.2% 0.8%
DE Market -0% -3.3% 2.1% -11.5% 8.9% 8.1%
1 Year Return vs Industry and Market
  • PCG underperformed the Electric Utilities industry which returned 10.7% over the past year.
  • PCG underperformed the Market in Germany which returned -11.5% over the past year.
Price Volatility
PCG
Industry
5yr Volatility vs Market

PCG Value

 Is PG&E undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PG&E to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for PG&E.

DB:PCG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:PCG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.23
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.235 (1 + (1- 21%) (261.67%))
0.812
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.812 * 5.96%)
5.07%

Discounted Cash Flow Calculation for DB:PCG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PG&E is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:PCG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.07%)
2019 -687.00 Analyst x2 -653.85
2020 430.00 Analyst x1 389.50
2021 1,132.00 Analyst x1 975.91
2022 1,845.49 Est @ 63.03% 1,514.24
2023 2,661.00 Est @ 44.19% 2,078.01
2024 3,485.93 Est @ 31% 2,590.84
2025 4,244.78 Est @ 21.77% 3,002.60
2026 4,894.51 Est @ 15.31% 3,295.13
2027 5,422.29 Est @ 10.78% 3,474.29
2028 5,835.28 Est @ 7.62% 3,558.49
Present value of next 10 years cash flows $20,225.15
DB:PCG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $5,835.28 × (1 + 0.23%) ÷ (5.07% – 0.23%)
$120,783.26
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $120,783.26 ÷ (1 + 5.07%)10
$73,656.42
DB:PCG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $20,225.15 + $73,656.42
$93,881.57
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $93,881.57 / 529.21
$177.4
DB:PCG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PCG represents 0.88672x of NYSE:PCG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88672x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 177.40 x 0.88672
€157.30
Value per share (EUR) From above. €157.30
Current discount Discount to share price of €16.36
= -1 x (€16.36 - €157.30) / €157.30
89.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price PG&E is available for.
Intrinsic value
>50%
Share price is €16.36 vs Future cash flow value of €157.3
Current Discount Checks
For PG&E to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PG&E's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PG&E's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PG&E's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PG&E's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PCG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-13.77
NYSE:PCG Share Price ** NYSE (2019-05-22) in USD $18.45
Europe Electric Utilities Industry PE Ratio Median Figure of 66 Publicly-Listed Electric Utilities Companies 11.81x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 20.26x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PG&E.

DB:PCG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:PCG Share Price ÷ EPS (both in USD)

= 18.45 ÷ -13.77

-1.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PG&E is loss making, we can't compare its value to the Europe Electric Utilities industry average.
  • PG&E is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does PG&E's expected growth come at a high price?
Raw Data
DB:PCG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
64%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 32 Publicly-Listed Electric Utilities Companies 1.41x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for PG&E, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PG&E's assets?
Raw Data
DB:PCG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $24.33
NYSE:PCG Share Price * NYSE (2019-05-22) in USD $18.45
Europe Electric Utilities Industry PB Ratio Median Figure of 73 Publicly-Listed Electric Utilities Companies 0.89x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.78x
DB:PCG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:PCG Share Price ÷ Book Value per Share (both in USD)

= 18.45 ÷ 24.33

0.76x

* Primary Listing of PG&E.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PG&E is good value based on assets compared to the Europe Electric Utilities industry average.
X
Value checks
We assess PG&E's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electric Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electric Utilities industry average (and greater than 0)? (1 check)
  5. PG&E has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PCG Future Performance

 How is PG&E expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
64%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PG&E expected to grow at an attractive rate?
  • PG&E's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • PG&E's earnings growth is expected to exceed the Germany market average.
  • PG&E's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PCG Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PCG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 64%
DB:PCG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 2.6%
Europe Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 9.6%
Europe Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:PCG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PCG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 6,491
2021-12-31 18,561 6,054 2,344 7
2020-12-31 18,244 -5,460 2,224 10
2019-12-31 18,026 5,076 1,527 2
DB:PCG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 16,714 5,484 -7,157
2018-12-31 16,759 4,752 -6,851
2018-09-30 16,771 5,476 136
2018-06-30 16,907 5,974 122
2018-03-31 16,923 5,915 1,512
2017-12-31 17,135 5,977 1,646
2017-09-30 17,748 5,863 2,224
2017-06-30 18,041 5,350 2,062
2017-03-31 17,960 4,895 1,862
2016-12-31 17,666 4,409 1,393
2016-09-30 17,120 4,121 835
2016-06-30 16,860 3,736 754

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PG&E's earnings are expected to grow significantly at over 20% yearly.
  • PG&E's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:PCG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from PG&E Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PCG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 4.36 4.47 4.25 2.00
2020-12-31 4.21 4.32 4.05 3.00
2019-12-31 2.92 3.84 2.44 3.00
DB:PCG Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -13.77
2018-12-31 -13.25
2018-09-30 0.26
2018-06-30 0.24
2018-03-31 2.94
2017-12-31 3.21
2017-09-30 4.37
2017-06-30 4.07
2017-03-31 3.70
2016-12-31 2.79
2016-09-30 1.68
2016-06-30 1.53

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • PG&E is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PG&E's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PG&E has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PCG Past Performance

  How has PG&E performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PG&E's growth in the last year to its industry (Electric Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PG&E does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare PG&E's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare PG&E's 1-year growth to the Europe Electric Utilities industry average as it is not currently profitable.
Earnings and Revenue History
PG&E's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PG&E Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PCG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 16,714.00 -7,157.00 -3.00
2018-12-31 16,759.00 -6,851.00 -52.00
2018-09-30 16,771.00 136.00 -348.00
2018-06-30 16,907.00 122.00 -97.00
2018-03-31 16,923.00 1,512.00 -87.00
2017-12-31 17,135.00 1,646.00 -1.00
2017-09-30 17,748.00 2,224.00 0.00
2017-06-30 18,041.00 2,062.00
2017-03-31 17,960.00 1,862.00 -10.00
2016-12-31 17,666.00 1,393.00 -12.00
2016-09-30 17,120.00 835.00
2016-06-30 16,860.00 754.00
2016-03-31 16,908.00 950.00
2015-12-31 16,833.00 874.00
2015-09-30 16,974.00 871.00
2015-06-30 17,363.00 1,375.00
2015-03-31 17,098.00 1,240.00
2014-12-31 17,090.00 1,436.00
2014-09-30 16,757.00 1,391.00
2014-06-30 15,993.00 741.00
2014-03-31 15,817.00 802.00
2013-12-31 15,598.00 814.00
2013-09-30 15,453.00 715.00
2013-06-30 15,254.00 915.00
2013-03-31 15,071.00 822.00
2012-12-31 15,040.00 816.00
2012-09-30 15,025.00 912.00
2012-06-30 14,909.00 751.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if PG&E has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if PG&E has efficiently used its assets last year compared to the Europe Electric Utilities industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if PG&E improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess PG&E's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electric Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PG&E has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PCG Health

 How is PG&E's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PG&E's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PG&E is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PG&E's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of PG&E's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PG&E Company Filings, last reported 1 month ago.

DB:PCG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 13,129.00 25,549.00 2,964.00
2018-12-31 12,903.00 22,005.00 1,668.00
2018-09-30 19,696.00 19,350.00 430.00
2018-06-30 19,061.00 19,255.00 517.00
2018-03-31 19,983.00 18,768.00 144.00
2017-12-31 19,472.00 19,147.00 449.00
2017-09-30 19,286.00 18,188.00 191.00
2017-06-30 18,891.00 18,496.00 178.00
2017-03-31 18,605.00 18,276.00 164.00
2016-12-31 18,192.00 18,471.00 177.00
2016-09-30 17,606.00 17,833.00 71.00
2016-06-30 16,998.00 18,214.00 189.00
2016-03-31 16,864.00 17,375.00 142.00
2015-12-31 16,828.00 17,158.00 123.00
2015-09-30 16,820.00 16,426.00 154.00
2015-06-30 16,271.00 16,560.00 249.00
2015-03-31 15,955.00 15,907.00 145.00
2014-12-31 16,000.00 15,757.00 151.00
2014-09-30 16,031.00 14,981.00 139.00
2014-06-30 15,280.00 15,418.00 132.00
2014-03-31 14,932.00 14,895.00 108.00
2013-12-31 14,594.00 14,877.00 296.00
2013-09-30 14,260.00 14,159.00 281.00
2013-06-30 14,122.00 14,157.00 281.00
2013-03-31 13,824.00 13,406.00 278.00
2012-12-31 13,326.00 13,534.00 401.00
2012-09-30 13,385.00 13,422.00 296.00
2012-06-30 13,054.00 13,468.00 292.00
  • PG&E's level of debt (194.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (99.8% vs 194.6% today).
  • Debt is well covered by operating cash flow (21.5%, greater than 20% of total debt).
  • PG&E is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess PG&E's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PG&E has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PCG Dividends

 What is PG&E's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from PG&E dividends. Estimated to be 0.42% next year.
If you bought €2,000 of PG&E shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate PG&E's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate PG&E's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:PCG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
Europe Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 4.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:PCG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 1.00 2.00
2021-12-31 0.00 7.00
2020-12-31 0.00 8.00
2019-12-31 0.00 9.00
DB:PCG Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-02 0.000 0.000
2019-02-28 0.000 0.000
2018-11-05 0.000 0.000
2018-07-26 0.000 0.000
2018-05-03 0.000 0.000
2017-12-20 0.000 0.000
2017-09-20 2.120 3.653
2017-05-31 2.120 3.100
2017-02-16 1.960 2.946
2016-12-16 1.960 3.194
2016-09-21 1.960 3.261
2016-05-23 1.960 3.117
2016-02-17 1.820 3.135
2015-12-16 1.820 3.382
2015-09-16 1.820 3.448
2015-06-18 1.820 3.582
2015-02-18 1.820 3.456
2014-12-17 1.820 3.247
2014-09-17 1.820 3.782
2014-06-18 1.820 3.930
2014-02-19 1.820 4.089
2013-12-18 1.820 4.427
2013-09-18 1.820 4.426
2013-06-19 1.820 4.158
2013-02-20 1.820 4.024
2012-12-20 1.820 4.379
2012-09-18 1.820 4.370
2012-06-20 1.820 4.078
2012-02-15 1.820 4.197
2011-12-21 1.820 4.424
2011-09-21 1.820 4.481
2011-06-15 1.820 4.374
2011-02-17 1.820 4.093
2010-12-15 1.820 3.868
2010-09-15 1.820 3.880
2010-06-16 1.820 4.098
2010-02-19 1.820 4.270
2009-12-16 1.680 3.853
2009-09-16 1.680 4.000
2009-06-17 1.680 4.274

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as PG&E has not reported any payouts.
  • Unable to verify if PG&E's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of PG&E's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as PG&E has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of PG&E's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess PG&E's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PG&E afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PG&E has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PCG Management

 What is the CEO of PG&E's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bill Johnson
AGE 64
TENURE AS CEO 0.1 years
CEO Bio

Mr. William Dean Johnson, also known as Bill, has been Chief Executive Officer and President of PG&E Corporation and Pacific Gas and Electric Company since April 2019. Mr. Johnson serves as Director at Pacific Gas and Electric Company since May 2, 2019. He served as the Chief Executive Officer and President of Tennessee Valley Authority since January 1, 2013 until April 8, 2019. Mr. Johnson was the Chairman, Chief Executive Officer and President of Progress Energy since October 2007. He served as the Chairman and Chief Executive Officer of Progress Energy from October 12, 2007 to July 2012 and served as its President from January 2005 to July 2012. Mr. Johnson also served as the Chair of Progress Energy Carolinas, Inc., and Progress Energy Florida, Inc. He served as Group President of Power & Light Company at Progress Energy Inc. from January 2004 to October 2007. He served as the Chief Operating Officer of Progress Energy Inc. from January 2005 to October 2007. He served as an Interim Chief Executive Officer of Progress Energy Inc., since October 2007. He served as Group President of Duke Energy Progress, LLC from January 2005 to October 2007. He served as an Executive Vice President at Duke Energy Progress, LLC from November 2000 to January 2005 and served as its Corporate Secretary since November 2000. He served as the Chief Executive Officer and President of Duke Energy Corporation since July 3, 2012. He served as the Group President of Energy Delivery since January 2004. He served as an Executive Vice President and Corporate Secretary of Florida Progress Corporation and Duke Energy Florida, Inc. from November 2000 to November 2007. He served as a Corporate Secretary of Progress Energy Service Company LLC, a subsidiary of Progress Energy Inc., from October 2002 to December 2003. He served as the President and Chief Executive Officer of Progress Energy Service Company LLC since October 2002 and as its Executive Vice President and Corporate Secretary from 2000 to October 2002. Mr. Johnson served as General Counsel of Progress Energy Inc. since August 1999 and served as its Executive Vice President and Corporate Secretary from August 1999 to February 2001. He served as General Counsel of Florida Progress Corp., Duke Energy Progress, Inc., Progress Energy Service Company LLC and Duke Energy Florida, Inc. from November 2000 to October 2002. Mr. Johnson joined Carolina Power & Light Company ("CP&L"), a predecessor to Progress Energy, in 1992. He served as Senior Vice President and Corporate Secretary of Duke Energy Progress, Inc., Legal and Risk Management from March 1999 to November 2000 and Progress Energy from August 1999 to June 2000. He served as Vice President of Legal Department and Corporate Secretary at Duke Energy Progress, Inc. from 1997 to 1999. He served as Vice President, Senior Counsel and Manager of Legal Department at CP&L from 1995 to 1997. He was a Partner with the Raleigh Office of Hunton & Williams. Mr. Johnson served as a Law Clerk to the Honorable J. Dickson Phillips Jr. of the U.S. Court of Appeals for the Fourth Circuit. He has been the Chairman and Director of Duke Energy Florida, Inc. since November 2007. He served as the Chairman of Duke Energy Progress, Inc. since November 2007 and has been its Director since July 17, 2007. He serves as the Chairman of North Carolina Chamber, Exploris. He served as Chairman of the Board of Nuclear Energy Institute. He served as Vice Chairman of Nuclear Energy Institute. He has been a Director of Pacific Gas and Electric Company since May 2, 2019. Mr. Johnson served as a Director of Nuclear Electric Insurance Limited, Edison Electric Institute (EEI) and the Nuclear Energy Institute. He serves as a Director of the Institute of Nuclear Power Operations and other community and charitable organizations. He served as a Director of Progress Energy Inc. from 2007 to July 2012. He served as a Director of Florida Progress Corporation. Mr. Johnson has a Bachelor's Degree in History from Duke University and a Law Degree from the University of North Carolina at Chapel Hill in 1982.

CEO Compensation
  • Insufficient data for Bill to compare compensation growth.
  • Insufficient data for Bill to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the PG&E management team in years:

3.2
Average Tenure
53
Average Age
  • The tenure for the PG&E management team is about average.
Management Team

Jason Wells

TITLE
Senior VP & CFO
COMPENSATION
$3M
AGE
40
TENURE
3.3 yrs

John Simon

TITLE
Executive Vice President of San Francisco
COMPENSATION
$3M
AGE
53
TENURE
0.3 yrs

David Thomason

TITLE
VP & Controller
COMPENSATION
$709K
AGE
42
TENURE
2.9 yrs

Jesus Soto

TITLE
Senior Vice President of Gas Operations - Pacific Gas and Electric Company
COMPENSATION
$2M
AGE
50
TENURE
3.7 yrs

Pat Hogan

TITLE
COMPENSATION
$1M
AGE
54
TENURE
3.7 yrs

Bill Johnson

TITLE
CEO & President
AGE
64
TENURE
0.1 yrs

Christopher Foster

TITLE
Vice President of Investor Relations

Janet Loduca

TITLE
Senior VP & Interim General Counsel
AGE
50
TENURE
0.3 yrs

Julie Kane

TITLE
Senior VP
AGE
59
TENURE
4 yrs

Dinyar Mistry

TITLE
Senior VP of Human Resources & Chief Diversity Officer
COMPENSATION
$2M
AGE
56
TENURE
3.2 yrs
Board of Directors Tenure

Average tenure and age of the PG&E board of directors in years:

0.1
Average Tenure
58
Average Age
  • The average tenure for the PG&E board of directors is less than 3 years, this suggests a new board.
Board of Directors

Nora Brownell

TITLE
Independent Non-Executive Chairman
AGE
71
TENURE
0.1 yrs

Rich Barrera

TITLE
Director
AGE
47
TENURE
0.1 yrs

Michael Leffell

TITLE
Director
AGE
59
TENURE
0.1 yrs

Dominique Mielle

TITLE
Director
AGE
49
TENURE
0.1 yrs

Meridee Moore

TITLE
Director
AGE
60
TENURE
0.1 yrs

Kristine Schmidt

TITLE
Director
AGE
54
TENURE
0.1 yrs

Fred Buckman

TITLE
Independent Director
AGE
72
TENURE
0.1 yrs

Fred Fowler

TITLE
Director
COMPENSATION
$260K
AGE
72
TENURE
7.2 yrs

Eric Mullins

TITLE
Director
COMPENSATION
$260K
AGE
56
TENURE
2.7 yrs

Jeffrey Bleich

TITLE
Director
AGE
57
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
15. Mar 19 Buy David Abrams Individual 22. Jan 19 22. Jan 19 14,000 €7.02 €98,344
15. Mar 19 Sell Redwood Capital Management, LLC Company 11. Jan 19 22. Feb 19 -1,378,622 €17.53 €-24,170,238
15. Mar 19 Buy Redwood Capital Management, LLC Company 14. Jan 19 04. Mar 19 11,328,590 €36.82 €417,166,797
15. Mar 19 Buy Knighthead Capital Management, LLC Company 22. Jan 19 28. Feb 19 9,182,022 €15.88 €145,854,849
15. Mar 19 Buy Abrams Capital Management LP Company 14. Jan 19 16. Jan 19 25,000,000 €8.18 €0
X
Management checks
We assess PG&E's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PG&E has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PCG News

Simply Wall St News

PCG Company Info

Description

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company’s electricity distribution network consists of approximately 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations. Its natural gas system consists of approximately 43,100 miles of distribution pipelines, approximately 6,400 miles of backbone and local transmission pipelines, and various storage facilities. The company also owns and operates nuclear, hydroelectric, fossil fuel-fired, and solar electricity generation facilities. PG&E Corporation was incorporated in 1995 and is based in San Francisco, California. On January 29, 2019, PG&E Corporation Inc. filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Northern District of California.

Details
Name: PG&E Corporation
PCG
Exchange: DB
Founded: 1995
$8,755,353,484
529,212,562
Website: http://www.pgecorp.com
Address: PG&E Corporation
77 Beale Street,
PO Box 770000,
San Francisco,
California, 94177,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE PCG Common Shares New York Stock Exchange US USD 02. Jan 1992
DB PCG Common Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0QR3 Common Shares London Stock Exchange GB USD 02. Jan 1992
Number of employees
Current staff
Staff numbers
24,000
PG&E employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 20:58
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.