Public Service Enterprise Group (PEG)
Utilities · $34.7B market cap · SEC CIK 0000788784
fundamentals score out of 100
Next reports on Nov 2, 2026, before the open, with analysts expecting $1.18 in earnings per share.
The case for PEG
- Revenue growing 12.7% year over year.
- Pays a 3.5% dividend while you wait.
- Reasonably priced at 17.2× earnings.
- Moves less than the market (beta 0.51).
The case against
- Long-term debt of $21.7B would take 7 years of operating cash flow to repay.
- Near the bottom of its 52-week range, 21% below the high. Falling prices usually have a reason; find it first.
- Only 1% of FY2025's $2.1B profit arrived as free cash.
- Current liabilities exceed current assets (ratio 0.88).
- Free cash flow is only 0.1% of its market value, a thin cash return for the price.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Utilities companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 54 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 44 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 49 |
| Momentumhow the price has behaved lately | 17 |
| Stabilityhow violently it moves, what it owes and what it pays you | 54 |
- Each factor except momentum is half fixed thresholds, half rank among the 31 Utilities companies.
Key numbers
| Price / earnings | 17.2× |
|---|---|
| Price / book | 2.33× |
| Price / sales | 2.8× |
| Revenue growth (YoY) | +12.7% |
| EPS growth (YoY) | +1.6% |
| Gross margin | — |
| Operating margin | 23% |
| Net margin | 16% |
| Return on equity | 12% |
| Debt / equity | 1.42× |
| Current ratio | 0.88 |
| Dividend yield | 3.50% |
| Beta | 0.51 |
| 52-week range | $69.25 – $87.63 |
| Position in that range | 0% of the way up |
| 3-month return | -13.2% |
| 1-year return | -15.1% |
Five years of financials, as filed
Pulled from Public Service Enterprise Group's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $12.2B | $10.3B | $11.2B | $9.8B | $9.7B |
| Operating income | $3.0B | $2.4B | $3.7B | $1.4B | -$856M |
| Net income | $2.1B | $1.8B | $2.6B | $1.0B | -$648M |
| Operating cash flow | $3.3B | $2.1B | $3.8B | $1.5B | $1.7B |
| Capital expenditure | $3.3B | $3.4B | $3.3B | $2.9B | $2.7B |
| Total assets | $57.6B | $54.6B | $50.7B | $48.7B | $49.0B |
| Cash | $132M | $125M | $54.0M | $465M | $818M |
| Long-term debt | $21.7B | $19.0B | $17.8B | $16.5B | $15.2B |
| Free cash flow | $26.0M | -$1.2B | $481M | -$1.4B | -$983M |
| Operating margin | 24.5% | 22.9% | 32.8% | 14.1% | -8.8% |
| Net margin | 17.3% | 17.2% | 22.8% | 10.5% | -6.7% |
| Diluted shares | 501M | 500M | 500M | 501M | 504M |
Share count is essentially flat over 4 years.
What Public Service Enterprise Group says it does
—Regulatory Issues—Federal Regulation. As a result of the capacity market price increases, the costs of which are flowed through to customers, and per direction to EDCs from the BPU, PSE&G filed a petition in May 2025 that provided proposals to mitigate bill impacts to customers. In June 2025, the BPU approved a settlement under which PSE&G applied a credit to each residential electric customer’s monthly bill for July 2025 and August 2025, with the offset being charged on monthly bills for September 2025 through February 2026. PSE&G agreed to waive carrying costs on the outstanding credit amount. In addition, PSE&G agreed to: extend protections precluding the shut-off of eligible residential customers, normally available during the winter months, to the period from July 1, 2025 through September 30, 2025; offer residential customers deferred payment arrangements with terms of up to twenty-four months for the payment of overdue billed…
Risk factors PEG lists in its 10-K
- Climate Strategy and Sustainability Efforts
- Competitively Bid, FERC Regulated Transmission
- PSEG Net Income Per Share (Diluted)
- Regulatory, Legislative and Other Developments
- Transmission Rate Proceedings and Return on Equity (ROE)
- New Jersey Clean Energy Stakeholder Proceedings
- Federal and State Executive Orders and State Legislative and Other Activity
- Year Ended December 31, 2025 as compared to 2024
- Net Non-Operating Pension and OPEB Credits
- Year Ended December 31, 2024 as compared to 2023
- Net Gains (Losses) on Trust Investments
- Energy-Related Purchase Commitments
- Accounting for Pensions and Other Postretirement Benefits (OPEB)
- Effect if Different Assumptions Used