Consolidated Edison vs PG&E
PG&E reported revenue of $24.9 billion in fiscal 2025, 1.5 times Consolidated Edison's $16.9 billion in fiscal 2025. Consolidated Edison's revenue grew 10.9% in its latest year, and PG&E's grew 2.1%. Consolidated Edison had an operating margin of 17.4%, against 19.1% at PG&E. Free cash flow was $36 million at Consolidated Edison and −$3.1 billion at PG&E.
Side by side
| Consolidated Edison | PG&E | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $16.9B | $24.9B |
| Revenue growth | 10.9% | 2.1% |
| Revenue growth a year, last 5 years | 6.7% | 6.2% |
| Gross margin | — | — |
| Operating margin | 17.4% | 19.1% |
| Net margin | 12.0% | 10.8% |
| Free cash flow | $36M | −$3.1B |
| Free cash flow margin | 0.2% | −12.3% |
| Return on capital | 4.7% | 5.4% |
| Net debt to EBITDA | 4.9x | — |
| Dividends and buybacks | $1.2B | $0M |
| Change in diluted share count | 3.3% | 2.6% |
| Last close | $115.42 | $12.85 |
| P/E at the last close | 19.5× | 9.3× |
| Insider trades, last 12 months | bought $435, sold $1.3 million | bought $211,200, sold $8.4 million |
| Piotroski F-score | 6 of 8 | 4 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Consolidated EdisonPG&E
Operating margin
Percent of revenue
Consolidated EdisonPG&E
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Consolidated EdisonPG&E
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Consolidated Edison and PG&E pages.