Pg&E (PCG) FY2011 results: revenue $15.0 billion, up 8.1% on the year
Pg&E Corp. (PCG) reported revenue of $15.0 billion for fiscal 2011, the year ended 31 December 2011, up 8.1% on the year before. Net income was $844 million, down 23.2%, and diluted earnings per share $2.10. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2012.
Revenue
$15.0 billion
+8.1% on the year
FY2007FY2011
Operating margin
13.0%
16.7% a year earlier
FY2007FY2011
Net income
$844 million
-23.2% on the year
FY2007FY2011
Diluted EPS
$2.10
-25.5% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
14,956
13,841
13,399
+8.1%
Operating income
1,942
2,308
2,299
-15.9%
Operating margin
13.0%
16.7%
17.2%
Interest expense
700
684
705
+2.3%
Pre-tax income
1,298
1,660
1,694
-21.8%
Income tax
440
547
460
-19.6%
Effective tax rate
33.9%
33.0%
27.2%
Net income
844
1,099
1,220
-23.2%
Net margin
5.6%
7.9%
9.1%
Diluted EPS
$2.10
$2.82
$3.20
-25.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
3,739
3,206
3,039
+16.6%
Capital expenditure
4,038
3,802
3,958
+6.2%
Free cash flow
-299
-596
-919
Free cash flow margin
-2.0%
-4.3%
-6.9%
Cash from investing
-3,986
-3,857
-3,336
Cash from financing
469
415
605
+13.0%
Share-based compensation
26.0
56.0
57.0
-53.6%
Dividends paid
704
662
590
+6.3%
Dividend per share
$1.82
$1.82
$1.68
0.0%
Diluted shares, weighted
402m
392m
386m
+2.6%
Shares outstanding at period end
412m
395m
371m
+4.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
12,101
11,282
10,333
+7.3%
Non-controlling interest
252
252
252
0.0%
Short-term borrowings
n/a
n/a
833
Debt
13,886
12,972
10,723
+7.0%
Other liabilities
23,511
21,519
20,804
+9.3%
Total liabilities and equity
49,750
46,025
42,945
+8.1%
Fixed assets
33,655
31,449
28,892
+7.0%
Intangible assets
3.0
n/a
n/a
Securities held for sale or to maturity
1,057
n/a
n/a
Cash and equivalents
513
291
527
+76.3%
Receivables
992
944
859
+5.1%
Inventory
159
152
114
+4.6%
Other assets
13,371
13,189
12,553
+1.4%
Total assets
49,750
46,025
42,945
+8.1%
10-K for the year ended 31 December 2011, filed 16 February 2012: the filing.