PEGPublic Service Enterprise Group

Utilities · Electric & Gas Utilities · NYSE

We were incorporated under the laws of the State of New Jersey in 1985 and our principal executive offices are located at 80 Park Plaza, Newark, New Jersey 07102. 10-K, Item 1

Headquarters: Newark, NJ
CEO: Ralph A. LaRossa
Next results: around Feb 25, 2027

Compare with peers → Embed

All key numbers (37, from the latest 10-K and 10-Q) From EDGAR

EPS (ttm)	4.02	Sales (ttm)	12.5B	Net income (ttm)	2.0B	Sales growth	+18.3%	EPS growth	+19.2%	Sales Q/Q	-8.9%
Free cash flow	276.0M	Gross margin	-	Oper. margin	23.1%	Net margin	16.0%	FCF margin	2.2%	ROE	11.6%
ROA	3.4%	R&D / sales	-	Dividend	2.52	Debt/Eq	1.42	Curr. ratio	0.88	Cash	192.0M
Op. cash flow (ttm)	3.6B	Net debt	24.3B	Quick ratio	0.88	Interest cover	2.97	ROIC	6.3%	Payout ratio	59.7%
Tax rate	11.1%	Stock pay / sales	0.4%	Shares out.	498.4M	Shares Y/Y	+0.2%	Book / share	34.77	Cash / share	0.39
Sales / share	25.17	Asset turnover	0.21	Days sales out.	57	Sales 3Y CAGR	+7.5%	Sales 5Y CAGR	+4.8%	EPS 3Y CAGR	+27.0%
EPS 5Y CAGR	+2.3%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024

Free cash flow turned positive−$1.2B → $26.0M · Cash from operations − capital expenditure · 10-K ↗
Revenue growth sped up to +18.3%-8.4% → +18.3% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗

What management wrote about it → · Every company →

PEG against Utilities peers

Ten years, side by side → · All 31 →

PEGPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 31 companies, the better end on the right. Hover a dot for the company.

Sales growth

+18.3%3rd of 31 · median +9.7%

Net margin

16.0%11th of 31 · median 13.8%

Return on equity

11.6%7th of 31 · median 10.3%

Free cash flow margin

2.2%3rd of 24 · median -13.7%

Debt / equity (less is better)

1.427th of 30 · median 1.70

PEG and the 5 peers closest in revenue
Company	Revenue (ttm)	Sales growth	Gross margin	Net margin	ROE	FCF margin	Debt / equity
PEG Public Service Enterprise Group	$12.5B	+18.3%	-	16.0%	11.6%	2.2%	1.42
ES Eversource Energy	$14.0B	+13.8%	-	10.4%	8.9%	2.1%	1.78
AES AES Corporation	$13.6B	-0.4%	21.3%	13.2%	31.3%	-11.2%	-
SRE Sempra	$13.4B	+3.9%	-	14.6%	6.1%	-43.5%	1.13
ETR Entergy	$13.3B	+9.0%	-	13.4%	10.3%	-21.3%	1.96
WEC WEC Energy Group	$10.3B	+14.0%	65.9%	17.5%	12.1%	-	1.52

Profitability

1 of 3

✓
Net margin above the peer median16.0% vs 13.8%
!
Return on equity below 15%11.6%
!
A profit in 9 of 10 years

Net margin, FY2016 to FY2025: 9.9% → 17.3%

Balance sheet

0 of 4

!
Interest covered less than 5 timesOperating income is 3.0× interest expense
!
Debt larger than equityDebt / equity 1.42 on the latest balance sheet (peer median 1.70)
!
Current ratio below 1Current ratio 0.88
!
Net debt over 3 years of free cash flow$24.3B net debt, 88.2 years

Debt / equity at each year end, FY2016 to FY2025: 0.90 → 1.42

What the debt is made of ↓

Cash and shareholders

3 of 4

!
Free cash flow positive in 4 of 10 years$26.0M last year
✓
Share count down over 5 years−1.2%
✓
Dividend per share up over 5 years$1.96 → $2.52
✓
Cash from operations above net income$3.3B vs $2.1B

Free cash flow, FY2016 to FY2025: -886.0M → 26.0M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

What the debt is made of, and when it is due

balance sheet of Jun 30, 2026 · schedule of Dec 31, 2025

Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. This company's debt note has no tagged lines yet, so fixed or floating rate is not shown. The full schedule →

Revenue and net income, FY2016 to FY2025

Revenue 12.2B Net income 2.1B

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

PEG's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly

Revenue12.2B

Net income2.1B

Free cash flow26.0M

EPS (diluted)4.22

Dividend per share2.52

Diluted shares501.0M

Revenue by business segment

year to Dec 31, 2025

	Revenue	Share	vs year before
Public Service Electricand Gas Company	9.5B	77.9%	+16.2%
PSEG Power Other	3.8B	30.8%	+39.9%

10-K 0001193125-26-077446, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025

	Revenue	Share	vs year before
Electric Distribution	4.9B	39.9%	+22.2%
Gas Distribution	2.5B	20.2%	+19.5%
Electric Transmission	1.8B	14.6%	+1.4%
Other Revenues from Contracts with Customers	1.1B	9.3%	+7.4%

10-K 0001193125-26-077446, segment and revenue notes (XBRL).

Income statement

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	9.0B	9.1B	9.7B	10.1B	9.6B	9.7B	9.8B	11.2B	10.3B	12.2B
Cost of revenue	2.9B	2.8B	3.2B	3.4B	3.1B	-	-	-	-	-
Operating income	1.6B	1.4B	2.3B	1.9B	2.3B	-856.0M	1.4B	3.7B	2.4B	3.0B
Interest expense	385.0M	391.0M	476.0M	569.0M	600.0M	571.0M	628.0M	748.0M	882.0M	1.0B
Pretax income	1.3B	1.3B	1.9B	1.9B	2.3B	-1.1B	1.0B	3.1B	1.8B	2.4B
Income tax	411.0M	-306.0M	417.0M	257.0M	396.0M	-441.0M	-29.0M	518.0M	53.0M	263.0M
Net income	887.0M	1.6B	1.4B	1.7B	1.9B	-648.0M	1.0B	2.6B	1.8B	2.1B
EPS (diluted)	1.75	3.10	2.83	3.33	3.76	-1.29	2.06	5.13	3.54	4.22
Diluted shares	508.0M	507.0M	507.0M	507.0M	507.0M	504.0M	501.0M	500.0M	500.0M	501.0M
Depreciation & amortization	1.5B	2.0B	1.2B	-	-	-	-	-	-	-
EBITDA	3.1B	3.4B	3.5B	-	-	-	-	-	-	-
Operating margin	17.8%	15.7%	23.7%	19.3%	23.6%	-8.8%	14.1%	32.8%	22.9%	24.5%
Net margin	9.9%	17.3%	14.8%	16.8%	19.8%	-6.7%	10.5%	22.8%	17.2%	17.3%
Revenue growth	-	+1.4%	+6.6%	+3.9%	-4.7%	+1.2%	+0.8%	+14.7%	-8.4%	+18.3%
EPS growth	-	+77.1%	-8.7%	+17.7%	+12.9%	-134%	-	+149%	-31.0%	+19.2%

Balance sheet

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash	423.0M	313.0M	177.0M	147.0M	543.0M	818.0M	465.0M	54.0M	125.0M	132.0M
Receivables	1.2B	1.3B	1.4B	1.3B	1.4B	1.9B	1.9B	1.5B	1.6B	1.9B
Current assets	3.3B	3.3B	3.5B	3.2B	3.6B	6.2B	4.3B	3.4B	4.2B	4.6B
Goodwill	16.0M	16.0M	16.0M	0	-	-	-	-	-	-
Total assets	40.1B	42.7B	45.3B	47.7B	50.0B	49.0B	48.7B	50.7B	54.6B	57.6B
Accounts payable	1.5B	1.7B	1.5B	1.4B	1.3B	1.3B	1.3B	1.2B	1.1B	1.5B
Current liabilities	3.3B	4.2B	4.9B	5.0B	5.5B	7.1B	6.7B	5.1B	6.5B	5.7B
Total debt	11.8B	13.6B	15.5B	16.2B	17.2B	19.4B	20.3B	20.2B	22.7B	24.1B
Shareholders' equity	13.1B	13.8B	14.4B	15.1B	16.0B	14.4B	13.7B	15.5B	16.1B	17.0B
Retained earnings	9.2B	9.9B	10.6B	11.4B	12.3B	10.6B	10.6B	12.0B	12.6B	13.4B

Cash flow

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	3.3B	3.3B	2.9B	3.4B	3.1B	1.7B	1.5B	3.8B	2.1B	3.3B
Capital spending	4.2B	4.2B	3.9B	3.2B	2.9B	2.7B	2.9B	3.3B	3.4B	3.3B
Free cash flow	-886.0M	-930.0M	-999.0M	213.0M	179.0M	-983.0M	-1.4B	481.0M	-1.2B	26.0M
Stock-based pay (added back)	1.0M	31.0M	30.0M	33.0M	35.0M	28.0M	29.0M	18.0M	40.0M	43.0M
Dividends paid	830.0M	870.0M	910.0M	950.0M	991.0M	1.0B	1.1B	1.1B	1.2B	1.3B
Buybacks	-	-	-	-	0	0	500.0M	0	0	-
Debt repaid	-	-	-	-	-	-	700.0M	1.6B	1.5B	2.1B
Investing cash flow	-4.2B	-4.3B	-3.9B	-3.1B	-2.7B	-2.2B	-1.1B	-3.0B	-3.3B	-3.3B
Financing cash flow	966.0M	885.0M	887.0M	-257.0M	-30.0M	799.0M	-754.0M	-1.3B	1.2B	12.0M
Dividend per share	1.64	1.72	1.80	1.88	1.96	2.04	2.16	2.28	2.40	2.52

Stock-based pay and leases

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Stock-based pay (expense)	1.0M	31.0M	30.0M	33.0M	35.0M	28.0M	29.0M	18.0M	40.0M	43.0M
Stock-based pay / revenue	0.0%	0.3%	0.3%	0.3%	0.4%	0.3%	0.3%	0.2%	0.4%	0.4%
Operating lease cost	-	-	-	52.0M	54.0M	50.0M	56.0M	53.0M	58.0M	63.0M
Operating lease cash paid	-	-	-	42.0M	45.0M	43.0M	42.0M	34.0M	37.0M	35.0M
Right-of-use assets	-	-	0	282.0M	262.0M	201.0M	176.0M	179.0M	162.0M	138.0M
Operating lease liabilities	-	-	-	306.0M	286.0M	224.0M	197.0M	200.0M	181.0M	156.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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