Pg&E (PCG) FY2023 results: revenue $24.4 billion, up 12.7% on the year
Pg&E Corp. (PCG) reported revenue of $24.4 billion for fiscal 2023, the year ended 31 December 2023, up 12.7% on the year before. Net income was $2.2 billion, up 24.6%, and diluted earnings per share $1.05. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$24.4 billion
+12.7% on the year
FY2016FY2023
Operating margin
10.9%
8.5% a year earlier
FY2016FY2023
Net income
$2.2 billion
+24.6% on the year
FY2016FY2023
Diluted EPS
$1.05
+25.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,747
3,721
2,262
+27.6%
Capital expenditure
9,714
9,584
7,689
+1.4%
Free cash flow
-4,967
-5,863
-5,427
Free cash flow margin
-20.3%
-27.0%
-26.3%
Cash from investing
-9,162
-10,214
-6,905
Cash from financing
4,400
7,133
4,323
-38.3%
Share-based compensation
91.0
115
56.0
-20.9%
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
2,138m
2,132m
1,985m
+0.3%
Shares outstanding at period end
2,134m
1,988m
1,985m
+7.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
25,040
22,823
20,971
+9.7%
Non-controlling interest
252
252
252
0.0%
Short-term borrowings
3,971
2,055
2,184
+93.2%
Debt
50,975
47,742
42,706
+6.8%
Operating lease liabilities
518
1,243
810
-58.3%
Finance lease liabilities
554
0.0
n/a
Other liabilities
44,388
44,529
36,404
-0.3%
Total liabilities and equity
125,698
118,644
103,327
+5.9%
Securities held for sale or to maturity
n/a
n/a
4,581
Cash and equivalents
635
734
291
-13.5%
Receivables
2,048
2,645
2,345
-22.6%
Inventory
65.0
91.0
44.0
-28.6%
Other assets
122,950
115,174
96,066
+6.8%
Total assets
125,698
118,644
103,327
+5.9%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.