Question 1

What is PG&E's EV/EBITDA ratio?

Accepted Answer

PG&E (PCG) EV/EBITDA ratio is 9.5× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for PG&E?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For PG&E specifically, the relevant sector benchmark is the current sector median of 12.7×.

Question 5

Is PG&E's EV/EBITDA ratio high or low?

Accepted Answer

PG&E's EV/EBITDA ratio of 9.5× is below its own 5-year average of 10.8× and below the sector median of 12.7×. That places the current reading at the 15th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is PG&E's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, PG&E (PCG) EV/EBITDA ratio has ranged from a low of 1.4× in 2002 to a high of 17.3× in 2003. The 5-year average is 10.8× and the 5-year median is 10.6×.

Question 7

What was PG&E's EV/EBITDA ratio in 2025?

Accepted Answer

PG&E (PCG) EV/EBITDA ratio at the end of 2025 was 9.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does PG&E's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$35.58B	$10.25B	9.4×	-0.7×	Dec 31, 2025
2024	$43.21B	$9.94B	10.1×	-1.9×	Dec 31, 2024
2023	$37.21B	$7.85B	12.0×	-0.6×	Dec 31, 2023
2022	$32.31B	$6.73B	12.7×	+1.5×	Dec 31, 2022
2021	$24.10B	$6.27B	11.2×	-3.7×	Dec 31, 2021
2020	$20.20B	$4.20B	14.8×	—	Dec 31, 2020
2019	$5.74B	−$6.87B	—	—	Dec 31, 2019
2018	$12.28B	−$6.16B	—	—	Dec 31, 2018
2017	$23.09B	$5.91B	7.1×	-2.6×	Dec 31, 2017
2016	$30.32B	$5.01B	9.7×	-1.0×	Dec 31, 2016
2015	$26.94B	$4.12B	10.7×	+2.3×	Dec 31, 2015
2014	$25.24B	$4.88B	8.3×	-0.1×	Dec 31, 2014
2013	$18.49B	$3.92B	8.4×	+1.1×	Dec 31, 2013
2012	$17.04B	$4.08B	7.4×	+0.2×	Dec 31, 2012
2011	$16.78B	$4.21B	7.2×	+0.1×	Dec 31, 2011
2010	$18.27B	$4.42B	7.1×	+0.5×	Dec 31, 2010
2009	$16.57B	$4.35B	6.6×	+0.7×	Dec 31, 2009
2008	$13.82B	$4.27B	5.9×	+0.1×	Dec 31, 2008
2007	$14.91B	$4.01B	5.9×	-0.9×	Dec 31, 2007
2006	$16.52B	$3.88B	6.8×	+0.7×	Dec 31, 2006
2005	$12.77B	$3.71B	6.1×	+3.6×	Dec 31, 2005
2004	$13.25B	$8.62B	2.5×	-3.5×	Dec 31, 2004
2003	$10.66B	$3.53B	6.0×	+3.3×	Dec 31, 2003
2002	$5.12B	$2.45B	2.7×	+0.2×	Dec 31, 2002
2001	$7.00B	$3.84B	2.5×	—	Dec 31, 2001


CMS Energy (CMS)	13.0×
FirstEnergy (FE)	12.9×
H2O America (HTO)	12.8×
Southern Company (SO)	12.7×
Vistra (VST)	12.7×
PPL (PPL)	12.7×
Evergy (EVRG)	12.7×
NiSource (NI)	12.6×
Pinnacle West Capital (PNW)	12.5×
New Jersey Resources (NJR)	12.3×
MGE Energy (MGEE)	12.0×
Duke Energy (DUK)	11.9×
Black Hills (BKH)	11.9×
Algonquin Power & Utilities (AQN)	11.8×
Public Service Enterprise Group (PEG)	11.7×
Exelon (EXC)	11.3×
AES (AES)	10.5×
Eversource Energy (ES)	10.3×
Artesian Resources (ARTNA)	9.9×
Avista (AVA)	9.9×
Consolidated Edison (ED)	9.8×
Edison International (EIX)	9.6×
UGI (UGI)	9.3×
Northwest Natural Holding (NWN)	8.9×
Ameren (AEE)	8.1×

EV/EBITDA for PG&E (PCG)

EV/EBITDA daily chart for PG&E (PCG)

Historical EV/EBITDA for PG&E (PCG) from 2001 to 2025

About EV/EBITDA at PG&E (PCG)

PG&E EV/EBITDA by Year

PG&E EV/EBITDA 2025: 9.4×

PG&E EV/EBITDA 2024: 10.1×

PG&E EV/EBITDA 2023: 12.0×

PG&E EV/EBITDA 2022: 12.7×

PG&E EV/EBITDA 2021: 11.2×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

PG&E (PCG) Key Financials

EV/EBITDA daily chart for PG&E (PCG)

Historical EV/EBITDA for PG&E (PCG) from 2001 to 2025

About EV/EBITDA at PG&E (PCG)

PG&E EV/EBITDA by Year

PG&E EV/EBITDA 2025: 9.4×

PG&E EV/EBITDA 2024: 10.1×

PG&E EV/EBITDA 2023: 12.0×

PG&E EV/EBITDA 2022: 12.7×

PG&E EV/EBITDA 2021: 11.2×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is PG&E's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for PG&E?

+Is PG&E's EV/EBITDA ratio high or low?

+What is PG&E's historical EV/EBITDA ratio range?

+What was PG&E's EV/EBITDA ratio in 2025?

+Why does PG&E's EV/EBITDA ratio change over time?

PG&E (PCG) Key Financials