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PG&E Corporation

PCG

Utilities · 14.02 -1.3% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

PG&E Corporation's current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.

Company-1.3% todayVolume comparison unavailable
Market group0 of 1 activeRegulated Electric Utilities · unavailable
Disclosed network0 of 4 confirmingNo filing-linked name is confirming now
What would change this read
  • A $623 million increase in capital expenditures was driven by electric distribution customer connections, undergrounding, and distribution maintenance for wildfire mitigation.

Invalidation: The isolated read changes if PCG's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Utilities · Utilities - Regulated Electric

No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • A $623 million increase in capital expenditures was driven by electric distribution customer connections, undergrounding, and distribution maintenance for wildfire mitigation.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements135
Verified relationships5
Evidence supporting the case

No qualifying supportive evidence was identified.

Evidence challenging the case
  • Diluted shares increased 2.6% in the latest annual period.
  • Energy and commodity prices has repeated adverse evidence across 5 filings.
  • Credit and interest rates has repeated adverse evidence across 4 filings.
Questions before a position
  • EV/sales is 25% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

14.02
6m-22.7%12m-6.3%24m-31.9%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$20.6B+11.8%$-0.05
2022-12-31$21.7B+5.0%$0.84+7.4%
2023-12-31$24.4B+12.7%$1.05+0.3%
2024-12-31$24.4B-0.0%$1.15+0.4%
2025-12-31$24.9B+2.1%$1.18+2.6%

What management says matters

Persistent and emerging business drivers

Demand and volumemixed · 5 filings
The Bankruptcy Court has entered several orders disallowing and expunging Subordinated Claims that were subject to these omnibus objections, and certain Subordinated Claims subject to these omnibus objections remain pending.
10-Q · Jul 23, 2026
Energy and commodity pricesnegative · 5 filings
This decrease was primarily the result of lower procurement costs due to lower natural gas prices and volumes, partially offset by an increase in greenhouse gas emission expenses associated with California’s cap-and-invest program.
10-Q · Jul 23, 2026
Credit and interest ratesnegative · 4 filings
The following table provides a summary of income (loss) attributable to common shareholders for the three months ended March 31, 2026 and 2025: Three Months Ended March 31, Net Change Percentage Change (in millions) 2026 2025 Consolidated Total $ 858 $ 607 $…
10-Q · Apr 23, 2026
Legal and regulatory exposuremixed · 4 filings
This decrease was primarily due to: • an increase in electric procurement costs driven by lower sales of renewable portfolio standard compliance instruments into the market; • an increase in margin-related collateral postings by the Utility, coupled with lowe…
10-Q · Apr 23, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 1.2× · EV/sales 3.5×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

14.02-1.3% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for PCG. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for PCG. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind PCG

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

ETNEaton Corporation plclenderFeb 12, 2026

With respect to the Wildfire Fund, SCE has disclosed that a liability for the wildfire that began on January 7, 2025, in Eaton Canyon in Los Angeles County, California (the “Eaton fire”) is probable but not reasonably estimable.

Depended on by

AREAlexandria Real Estate Equities, Inc.supplierJan 26, 2026

Pacific Gas and Electric Company (“PG&E”) is the primary public utility company providing electrical and gas service to residential and commercial customers in northern California, including the San Francisco Bay Area.

Filing peers

No filing peers are available for this name yet.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

PCG is currently a Leader in the organic co-movement group Regulated Electric Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for PCG; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.