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PG&E CORP FY 2025 10-K, explained in plain English

PCG · 10-K for the period ending December 31, 2025, filed February 12, 2026 · Read the original on SEC.gov →

Key financials — as reported

Total revenue$24.9B
Gross margin— not reported
Operating income$4.7B
Net income— not reported
Diluted EPS$1.18
Cash & equivalents$713.0M
Total assets$141.6B
Long-term debt$57.4B

Key takeaway

PG&E reported $24.9 billion in revenue and $4.75 billion in operating income for 2025, with net income available to common stockholders of $2.59 billion, or $1.18 diluted EPS.

🔒 4 more takeaways in the full analysis

Beneath the surface

Despite $24.9 billion in revenue, PG&E holds only $713 million in cash against $57.4 billion in long-term debt, leaving a deeply negative net debt position of roughly $56.7 billion, worse than the headline debt figure alone suggests.

🔒 4 more insights a headline reader would miss

This is the free preview. The full analysis explains every line item above and includes 8 more findings — plus insider trades, activist stakes, and 8-K events for PCG.

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