How does PG&E (PCG) make money?

PG&E (PCG) generates revenue primarily from Electricity, which accounted for 75.4% of total revenue in TTM through Q1 2026. The company reported $25.83B in revenue and converted 11.4% of it into net profit, equivalent to roughly $2.95B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of PG&E (PCG)?

PG&E (PCG) reported a gross profit margin of 45.9% in TTM through Q1 2026, equivalent to $11.87B in gross profit on $25.83B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of PG&E (PCG)?

PG&E (PCG) reported an operating profit margin of 19.4% in TTM through Q1 2026, equivalent to $5.00B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of PG&E (PCG)?

PG&E (PCG) reported a net profit margin of 11.4% in TTM through Q1 2026, equivalent to $2.95B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is PG&E (PCG) profitable?

Yes. PG&E (PCG) reported $2.95B in net income for TTM through Q1 2026, with a net profit margin of 11.4%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does PG&E (PCG) spend on capital expenditures?

PG&E (PCG) spent $12.51B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 48.4% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does PG&E (PCG) generate?

PG&E (PCG) generated −$4.21B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of -16.3%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What are the main business segments of PG&E (PCG)?

PG&E (PCG) reports revenue across 2 reportable product segments, led by Electricity at 75.4% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How PG&E Makes Money: 2026 Visual Revenue Map

PG&E (PCG) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 23, 2026).

PG&E discloses geographic revenue only in annual filings. to view the full breakdown.

PG&E (PCG) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for PG&E (PCG) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Electricity	$19.48B	75.4%
Natural Gas, US Regulated	$6.35B	24.6%
Total	$25.83B	100%

Electricity$19.48B
Natural Gas, US Regulated$6.35B
Total$25.83B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, PG&E (PCG) reports revenue across 2 operating segments; the largest segment was Electricity at 75.4%, followed by Natural Gas, US Regulated (24.6%).

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