Pg&E (PCG) FY2020 results: revenue $18.5 billion, up 7.8% on the year
Pg&E Corp. (PCG) reported revenue of $18.5 billion for fiscal 2020, the year ended 31 December 2020, up 7.8% on the year before. Net income was -$1.3 billion, and diluted earnings per share $-1.05. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$18.5 billion
+7.8% on the year
FY2013FY2020
Operating margin
9.5%
-58.9% a year earlier
FY2013FY2020
Net income
-$1.3 billion
FY2013FY2020
Diluted EPS
-$1.05
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
18,469
17,129
16,759
+7.8%
Operating income
1,755
-10,094
-9,700
Operating margin
9.5%
-58.9%
-57.9%
Interest expense
1,260
934
929
+34.9%
Pre-tax income
-942
-11,042
-10,129
Income tax
362
-3,400
-3,292
Net income
-1,318
-7,656
-6,851
Net margin
-7.1%
-44.7%
-40.9%
Diluted EPS
-$1.05
-$14.50
-$13.25
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-19,130
4,816
4,752
Capital expenditure
7,690
6,313
6,514
+21.8%
Free cash flow
-26,820
-1,497
-1,762
Free cash flow margin
-145.2%
-8.7%
-10.5%
Cash from investing
-7,748
-6,378
-6,564
Cash from financing
25,928
1,464
3,031
+1,671.0%
Share-based compensation
35.0
50.0
89.0
-30.0%
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
1,257m
528m
517m
+138.1%
Shares outstanding at period end
1,985m
529m
520m
+275.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
21,001
5,136
12,651
+308.9%
Non-controlling interest
252
252
252
0.0%
Short-term borrowings
n/a
n/a
3,435
Debt
40,863
1,500
40,634
+2,624.2%
Operating lease liabilities
1,208
1,730
n/a
-30.2%
Other liabilities
34,532
76,578
20,023
-54.9%
Total liabilities and equity
97,856
85,196
76,995
+14.9%
Fixed assets
66,136
61,635
58,557
+7.3%
Securities held for sale or to maturity
4,209
3,703
3,138
+13.7%
Cash and equivalents
484
1,570
1,668
-69.2%
Receivables
1,883
1,287
1,148
+46.3%
Inventory
95.0
97.0
111
-2.1%
Other assets
25,049
16,904
12,373
+48.2%
Total assets
97,856
85,196
76,995
+14.9%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.