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Public Service Enterprise Group Incorporated

PEG

Utilities · 72.49 -0.1% today

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

Market read

Public Service Enterprise Group Incorporated's current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

What changed
  • Revenue decreased 2.7% versus the comparable filing period.
Company-0.1% todayVolume comparison unavailable
Market group0 of 5 activeRegulated Utilities · unavailable
Disclosed network0 of 5 confirmingNo filing-linked name is confirming now
What would change this read
  • PEG's market-adjusted activity becomes unusual and at least one connected name confirms.

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

Watch this read

Research brief

The story so far

Utilities · Utilities - Regulated Electric

The latest filing evidence is available. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges
  • Revenue decreased 2.7% versus the comparable filing period.
  • Operating margin fell 12.2 percentage points.
  • Net income decreased 42.9% versus the comparable filing period.
What would clarify the read
  • PEG's market-adjusted activity becomes unusual and at least one connected name confirms.

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 statements76
Verified relationships0
Evidence supporting the case
  • Latest annual revenue changed +18.3% year over year.
  • Operating margin changed +1.6 percentage points in the latest annual period.
  • Operating cash flow covered net income at 1.56x in the latest annual period.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position
  • P/E is 22% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 34% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

72.49
6m-11.9%12m-9.4%24m-10.4%
Annual trajectory

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

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$9.7B+1.2%$-1.29-0.6%
2022-12-31$9.8B+0.8%$2.06-0.6%
2023-12-31$11.2B+14.7%$5.13-0.2%
2024-12-31$10.3B-8.4%$3.54+0.0%
2025-12-31$12.2B+18.3%$4.22+0.2%

What management says matters

Persistent and emerging business drivers

Demand and volumepositive · 3 filings
Similar orders were issued to all other New Jersey Electric Distribution Companies (EDCs) and were as a result of state regulators’ concern about electric bill increases this summer, which the BPU attributed to the increasing demand for power and a lack of su…
10-K · Feb 26, 2026
Macroeconomic conditionsnegative · 3 filings
Both the PTC rate and reduction amount are subject to the Internal Revenue Service’s determination of annual inflation.
10-K · Feb 26, 2026
Pricing and mixmixed · 3 filings
Similar orders were issued to all other New Jersey Electric Distribution Companies (EDCs) and were as a result of state regulators’ concern about electric bill increases this summer, which the BPU attributed to the increasing demand for power and a lack of su…
10-K · Feb 26, 2026
Energy and commodity pricespositive · 1 filings
Energy Costs increased $319 million due to Gas costs increased $313 million due primarily to • a net increase of $231 million related to sales under the BGSS contract, of which $133 million was due to higher average prices, and $98 million was due to higher s…
10-K · Feb 26, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 3.0× · EV/sales 4.8×. 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

72.49-0.1% 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 PEG. 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.

Latest filing assessment

The latest filing shows material pressure

10-Q filed 2026-08-04 against the comparable filing from 2025-08-05.

cautious
OperationscautiousEvidence score -4
liquidityneutralEvidence score 0
valuationmixed

Capital and cash conversion

Cash conversion improved

supportive

Capital-spending intensity declined while free-cash-flow margin improved.

Capital spending YoY
+3.1%
Capital spending / revenue
+21.2%
Free-cash-flow margin
+5.3%
FCF margin change
+3.4 pts

Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.

What improved

No thresholded improvement was identified.

What weakened

  • Revenue decreased 2.7% versus the comparable filing period.
  • Operating margin fell 12.2 percentage points.
  • Net income decreased 42.9% versus the comparable filing period.

Filing receipts

The increase in PSE&G’s effective tax rate for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025 was primarily driven by a decrease in the flowback of historic mixed service cost deductions as an effect of utility ratemaking in 2026 compared to 2025.

The increase in PSEG’s effective tax rate for the six months ended June 30, 2026 compared to the six months ended June 30, 2025 was primarily driven by a decrease in the flowback of historic mixed service cost deductions as an effect of utility ratemaking in 2026 compared to 2025.

PSEG’s and PSE&G’s effective tax rates for the three and six months ended June 30, 2026 and 2025 were as follows: Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 PSEG 16.1 % 19.4 % 13.7 % 12.6 % PSE&G 13.0 % 9.0 % 12.4 % 8.1 % PSEG and PSE&G’s lower effective tax rate compared to the statutory tax rate is primarily driven by the effects of utility ratemaking.

Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.

Business ecosystem

The relationships behind PEG

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

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 5 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

PEG is currently a Early Follower in the organic co-movement group Regulated Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.

Context history

Theme membership history

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