Cash flow PG&E Corporation

Equities

PCG

US69331C1080

Electric Utilities

Market Closed - Nyse Other stock markets 01:30:02 13/09/2024 am IST			5-day change	1st Jan Change
19.67 ^USD	+0.10%		-3.72%	+9.10%

01:38pm	Barclays Adjusts PG&E Price Target to $24 From $23	MT
11/09	Poland's PGE expects to consult on new coal assets plan in Q4	RE

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Published financial data: PG&E CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	17.13B	18.47B	20.64B	21.68B	24.43B
Total Revenues	17.13B	18.47B	20.64B	21.68B	24.43B
Operations And Maintenance	8.72B	8.68B	10.2B	9.73B	11.92B
Depreciation & Amortization - (IS) - (Collected)	3.23B	3.47B	3.4B	3.86B	3.74B
Other Operating Expenses	3.79B	3.82B	3.88B	4.86B	5.32B
Total Operating Expenses	15.75B	15.97B	17.48B	18.44B	20.98B
Operating Income (REIT / Utility Template)	1.38B	2.5B	3.16B	3.24B	3.45B
Interest Expense, Total	-948M	-1.27B	-1.62B	-1.93B	-2.86B
Interest and Investment Income	82M	39M	20M	162M	606M
Net Interest Expenses	-866M	-1.24B	-1.6B	-1.77B	-2.26B
Allowance For Equity Funds Used During Construction	79M	140M	-	-	-
Other Non Operating Income (Expenses)	135M	261M	-49M	-215M	126M
EBT, Excl. Unusual Items	725M	1.67B	1.52B	1.26B	1.32B
Restructuring Charges	-	-	-	-80M	-
Insurance Settlements	-	-	1.26B	120M	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-11.78B	-2.62B	-2.05B	-834M	-631M
EBT, Incl. Unusual Items	-11.06B	-956M	734M	462M	685M
Income Tax Expense	-3.4B	362M	836M	-1.34B	-1.56B
Earnings From Continuing Operations	-7.66B	-1.32B	-102M	1.8B	2.24B
Net Income to Company	-7.66B	-1.32B	-102M	1.8B	2.24B
Net Income - (IS)	-7.66B	-1.32B	-102M	1.8B	2.24B
Net Income to Common Incl Extra Items	-7.66B	-1.32B	-102M	1.8B	2.24B
Net Income to Common Excl. Extra Items	-7.66B	-1.32B	-102M	1.8B	2.24B
Per Share Items
Net EPS - Basic	-14.5	-1.05	-0.05	0.91	1.09
Basic EPS - Continuing Operations	-14.5	-1.05	-0.05	0.91	1.09
Basic Weighted Average Shares Outstanding	528M	1.26B	1.98B	1.99B	2.06B
Net EPS - Diluted	-14.5	-1.05	-0.05	0.84	1.05
Diluted EPS - Continuing Operations	-14.5	-1.05	-0.05	0.84	1.05
Diluted Weighted Average Shares Outstanding	528M	1.26B	1.98B	2.13B	2.14B
Normalized Basic EPS	0.86	0.83	0.48	0.4	0.4
Normalized Diluted EPS	0.86	0.83	0.48	0.37	0.38
Dividend Per Share	-	-	-	-	0.01
Payout Ratio	-	-	-	-	-
Supplemental Items
Utility Revenues	17.13B	18.47B	20.64B	21.68B	24.43B
EBITDA	4.61B	5.97B	6.57B	7.1B	7.19B
EBITA	1.65B	2.77B	3.45B	3.45B	3.7B
EBIT	1.38B	2.5B	3.16B	3.24B	3.45B
EBITDAR	4.66B	6.01B	6.62B	7.16B	7.29B
Total Revenues (As Reported)	17.13B	18.47B	20.64B	21.68B	24.43B
Effective Tax Rate - (Ratio)	30.75	-37.87	113.9	-289.61	-227.3
Current Domestic Taxes	102M	-60M	1M	-1M	-1M
Total Current Taxes	102M	-60M	1M	-1M	-1M
Deferred Domestic Taxes	-3.5B	429M	839M	-1.33B	-1.55B
Total Deferred Taxes	-3.5B	429M	839M	-1.33B	-1.55B
Normalized Net Income	453M	1.04B	950M	785M	822M
Interest Capitalized	55M	35M	56M	81M	82M
Interest on Long-Term Debt	-	-	-	-	-
Non-Cash Pension Expense	-109M	-198M	-254M	-245M	-46M
Supplemental Operating Expense Items
Net Rental Expense, Total	48M	45M	50M	63M	106M
Imputed Operating Lease Interest Expense	15.75M	13.56M	15.06M	20.34M	44.9M
Imputed Operating Lease Depreciation	32.25M	31.44M	34.94M	42.66M	61.1M
Stock-Based Comp., Other (Total)	50M	35M	56M	115M	91M
Total Stock-Based Compensation	50M	35M	56M	115M	91M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.57B	484M	291M	734M	635M
Accounts Receivable, Total	4.37B	4.97B	6.55B	7.21B	8.96B
Other Receivables	2.62B	1.17B	1.78B	1.62B	1.49B
Accounts Receivable (Summary Subtotal)	6.99B	6.14B	8.34B	8.84B	10.46B
Inventory - (Utility Template)	647M	628M	596M	842M	870M
Prepaid Expenses	-	536M	358M	-	-
Restricted Cash	-	143M	16M	213M	297M
Other Current Assets, Total	961M	1.67B	1.48B	2.19B	2.12B
Total Current Assets	10.16B	9.6B	11.08B	12.82B	14.38B
Gross Property Plant And Equipment	90.37B	95.63B	100B	108B	116B
Accumulated Depreciation	-26.45B	-27.76B	-29.13B	-30.95B	-33.09B
Net Property Plant And Equipment	63.92B	67.88B	71.06B	77.52B	82.92B
Regulatory Assets	6.07B	8.98B	9.21B	16.44B	17.19B
Other Long-Term Assets, Total	5.04B	11.4B	11.98B	11.87B	11.21B
Total Assets	85.2B	97.86B	103B	119B	126B
Liabilities
Accounts Payable, Total	5.5B	4.23B	4.66B	4.55B	4.83B
Accrued Expenses, Total	4M	498M	481M	626M	679M
Short-Term Borrowings	1.5B	3.55B	2.18B	2.06B	3.97B
Current Portion of Long-Term Debt	-	28M	4.48B	2.27B	1.38B
Current Portion of Leases	556M	533M	468M	231M	339M
Other Current Liabilities - (Bank / Utility Template)	1.25B	4.75B	5.16B	6.06B	6.12B
Total Current Liabilities	8.82B	13.58B	17.43B	15.79B	17.31B
Long-Term Debt	23.12B	37.29B	38.22B	47.74B	50.98B
Long-Term Leases	1.73B	1.21B	810M	1.24B	1.07B
Pension & Other Post Retirement Benefits	2.79B	3.44B	2.09B	1.14B	1.51B
Deferred Tax Liability Non-Current	320M	1.4B	3.18B	2.73B	1.98B
Other Non Current Liabilities, Total	43.03B	19.69B	20.38B	26.93B	27.56B
Total Liabilities	79.81B	76.6B	82.1B	95.57B	100B
Common Stock, Total	13.04B	30.22B	35.13B	32.89B	30.37B
Retained Earnings	-7.89B	-9.2B	-9.28B	-7.54B	-5.32B
Treasury Stock	-	-	-4.85B	-2.52B	-
Comprehensive Income and Other	-10M	-27M	-20M	-5M	-13M
Total Common Equity	5.14B	21B	20.97B	22.82B	25.04B
Minority Interest	252M	252M	252M	252M	252M
Total Equity	5.39B	21.25B	21.22B	23.08B	25.29B
Total Liabilities And Equity	85.2B	97.86B	103B	119B	126B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	529M	1.98B	1.99B	1.99B	2.13B
ECS Total Common Shares Outstanding	529M	1.98B	1.99B	1.99B	2.13B
Book Value / Share	9.7	10.58	10.56	11.48	11.74
Tangible Book Value	5.14B	21B	20.97B	22.82B	25.04B
Tangible Book Value Per Share	9.7	10.58	10.56	11.48	11.74
Total Debt	26.9B	42.6B	46.17B	53.54B	57.73B
Net Debt	25.33B	42.12B	45.88B	52.8B	57.1B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.98B	2.41B	864M	239M	486M
Debt Equivalent Oper. Leases	384M	360M	400M	504M	848M
Minority Interest, Total (Incl. Fin. Div)	252M	252M	252M	252M	252M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	550M	533M	552M	751M	805M
Inventories - Finished Goods, Total	97M	95M	44M	91M	65M
Machinery, Total	-	-	7.84B	8.52B	9.16B
Full Time Employees	23K	24K	26K	26.01K	28.01K
Accumulated Allowance for Doubtful Accounts (Supple)	43M	146M	171M	166M	445M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-7.66B	-1.32B	-102M	1.8B	2.24B
Depreciation, Depletion & Amortization	2.96B	3.2B	3.12B	3.64B	3.48B
Amortization of Goodwill and Intangible Assets - (CF)	274M	265M	287M	213M	253M
Total Depreciation, Depletion & Amortization	3.23B	3.47B	3.4B	3.86B	3.74B
Amortization of Deferred Charges, Total	-	413M	517M	477M	568M
Restructuring Activities	108M	1.46B	-73M	-	-
Provision and Write-off of Bad Debts	-	-	154M	143M	636M
Change in Accounts Receivable	-104M	-1.18B	-589M	-757M	-369M
Change In Inventories	-80M	6M	-32M	-246M	-28M
Change in Accounts Payable	516M	58M	117M	627M	-90M
Change In Income Taxes	23M	-	-	-	-
Change in Other Net Operating Assets (Collected)	11B	-23.42B	-3.04B	-2.09B	-904M
Other Operating Activities	-2.22B	1.39B	1.91B	-90M	-1.05B
Cash from Operations	4.82B	-19.13B	2.26B	3.72B	4.75B
Capital Expenditure	-6.31B	-7.69B	-7.69B	-9.58B	-9.71B
Sale of Property, Plant, and Equipment	-	-	749M	-	-
Contributions to Nuclear Decommissioning Trust	-1.03B	-1.59B	-1.7B	-3.21B	-2.25B
Other Investing Activities, Total	967M	1.53B	1.74B	2.58B	2.8B
Cash from Investing	-6.38B	-7.75B	-6.9B	-10.21B	-9.16B
Short Term Debt Issued, Total	1.85B	1.95B	301M	-	-
Long-Term Debt Issued, Total	-	22.23B	15.25B	23.22B	20.45B
Total Debt Issued	1.85B	24.18B	15.55B	23.22B	20.45B
Short Term Debt Repaid, Total	-350M	-2B	-1.45B	-300M	-
Long-Term Debt Repaid, Total	-	-4.71B	-10.06B	-15.77B	-15.96B
Total Debt Repaid	-350M	-6.71B	-11.51B	-16.07B	-15.96B
Issuance of Common Stock	85M	8.89B	-	-	-
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-121M	-424M	288M	-23M	-84M
Cash from Financing	1.46B	25.93B	4.32B	7.13B	4.4B
Miscellaneous Cash Flow Adjustments	-7M	-143M	-16M	-213M	-297M
Net Change in Cash	-105M	-1.09B	-336M	427M	-312M
Supplemental Items
Cash Interest Paid	10M	1.56B	1.4B	1.61B	2.29B
Cash Income Tax Paid (Refund)	-	-	-99M	-	-
Net Debt Issued / Repaid	1.5B	17.47B	4.04B	7.16B	4.48B
Levered Free Cash Flow	-16.77B	-820M	-3.59B	-4.67B	-6.22B
Unlevered Free Cash Flow	-16.17B	-23.88M	-2.58B	-3.47B	-4.44B
Change In Net Working Capital	14.01B	-2.19B	847M	355M	1.27B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.06	1.71	1.97	1.82	1.76
Return on Total Capital	2.56	3.25	3.01	2.81	2.7
Return On Equity %	-83.71	-9.89	-0.48	8.13	9.27
Return on Common Equity	-86.09	-10.09	-0.49	8.22	9.37
Margin Analysis
Gross Profit Margin %	26.71	31.88	29.36	32.73	34.01
SG&A Margin	-0.21	-0.44	-2.45	-2.81	-0.6
EBITDA Margin %	26.92	32.32	31.81	32.73	29.42
EBITA Margin %	9.64	14.98	16.72	15.93	15.15
EBIT Margin %	8.04	13.54	15.33	14.94	14.11
Income From Continuing Operations Margin %	-44.7	-7.14	-0.49	8.3	9.18
Net Income Margin %	-44.7	-7.14	-0.49	8.3	9.18
Net Avail. For Common Margin %	-44.7	-7.14	-0.49	8.3	9.18
Normalized Net Income Margin	2.65	5.64	4.6	3.62	3.37
Levered Free Cash Flow Margin	-97.89	-4.44	-17.4	-21.55	-25.48
Unlevered Free Cash Flow Margin	-94.43	-0.13	-12.51	-15.99	-18.16
Asset Turnover
Asset Turnover	0.21	0.2	0.21	0.2	0.2
Fixed Assets Turnover	0.28	0.28	0.3	0.29	0.3
Receivables Turnover (Average Receivables)	4.31	3.96	3.58	3.15	3.02
Inventory Turnover (Average Inventory)	20.91	19.74	23.83	20.29	18.83
Short Term Liquidity
Current Ratio	1.15	0.71	0.64	0.81	0.83
Quick Ratio	0.97	0.49	0.49	0.61	0.64
Operating Cash Flow to Current Liabilities	0.55	-1.41	0.13	0.24	0.27
Days Sales Outstanding (Average Receivables)	84.73	92.52	101.83	115.86	120.84
Days Outstanding Inventory (Average Inventory)	17.46	18.54	15.32	17.99	19.38
Average Days Payable Outstanding	130.16	141.76	111.41	104.87	114.74
Cash Conversion Cycle (Average Days)	-27.97	-30.7	5.74	28.99	25.48
Long Term Solvency
Total Debt/Equity	499.29	200.46	217.54	232.02	228.27
Total Debt / Total Capital	83.31	66.72	68.51	69.88	69.54
LT Debt/Equity	461.14	181.13	183.93	212.29	205.78
Long-Term Debt / Total Capital	76.95	60.28	57.92	63.94	62.69
Total Liabilities / Total Assets	93.68	78.28	79.46	80.55	79.88
EBIT / Interest Expense	1.45	1.96	1.96	1.68	1.2
EBITDA / Interest Expense	4.91	4.72	4.1	3.71	2.55
(EBITDA - Capex) / Interest Expense	-1.74	-1.32	-0.66	-1.26	-0.85
Total Debt / EBITDA	5.77	7.08	6.98	7.48	7.92
Net Debt / EBITDA