PG&E Corp (PCG) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of PG&E Corp stock $17.29, price $13.40, upside +29.0%, quality 34 out of 100. Rating: undervalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range $8.11 – $21.22 · fair‑value band $12.49 – $23.20 · the $13.40 price screens below the $17.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States.
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It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cells, and photovoltaic sources.
The company owns and operates interconnected transmission lines; electric transmission substations, distribution lines, switching and distribution substations; and natural gas transmission, storage, and distribution systems consisting of distribution pipelines, backbone and local transmission pipelines, and various storage facilities.
It serves residential, commercial, industrial, and agricultural customers, as well as natural gas-fired electric generation facilities. The company was incorporated in 1995 and is based in Oakland, California.
Stock analysis
PG&E Corp (PCG) currently trades at $13.40, while our model-based Fair Value estimate is $17.29, implying the stock looks roughly 22% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $17.85 per share, and 7 of the 13 models we run sit above the $13.40 price.
Bear case: the Dividend Discount group reads lowest at $2.18, and 6 of the 13 models stay below the price. Data coverage for this calculation is high.
Scenario range: $12.49 (bear) to $23.20 (bull), the price of $13.40 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 34/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
PG&E Corp reported revenue of $24.9B in FY2025 versus $20.6B in FY2021, a compound +4.8%/yr. Reported net income was $2.7B in FY2025.
Key figures
Market cap $38.9B Large · P/E ratio 9.6 · P/S ratio 1.51 · EPS (TTM) $1.35 · Dividend yield 1.5% · Net margin 11.6% · Return on equity 8.9% · Return on assets (EBIT) 2.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −42% fair-value upside, at 29%, PCG screens cheaper than that median.
Fair Value models
Bear$12.49Fair Value $17.29Bull$23.20
Price $13.40 · Upside +29.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.9736 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $91,500, on Sep 30, 2026. Over the same period, 3 people sold shares worth $662,755.
BuyJohn O LarsenDirector7,500 shares at $12.20$91,500Sep 30, 2026
SaleWilliam Craig FugateDirector6,500 shares at $13.76$89,440Sep 4, 202610b5-1 plan
SaleMarlene SantosEVP, Enterprise Transformation158,250 shares at $18.00$2.8MJul 22, 202610b5-1 plan
SaleKerry Whorton CooperDirector3× since Mar 17, 2026: 5,000 shares, avg. $17.97$89,825Jul 22, 202610b5-1 plan
SaleCarla J PetermanPresident, EVP Cust&Corp Afrs2× since Mar 16, 2026: 63,572 shares, avg. $17.50$1.1MJun 15, 202610b5-1 plan
SalePatricia K PoppeChief Executive Officer, Director2× since Feb 18, 2026: 62,500 shares, avg. $17.15$1.1MApr 28, 202610b5-1 plan
SaleJason M GlickmanEVP, Strategy and Growth47,264 shares at $16.35$772,766Apr 28, 2026
SaleSumeet SinghCEO and EVP at PG&E Company55,698 shares at $18.32$1.0MMar 5, 202610b5-1 plan
SaleJohn R SimonEVP, GC, Chief E&C Officer50,000 shares at $18.00$900,044Feb 19, 202610b5-1 plan
Plus 16 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.39/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+2.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.2%
Start year 2020 (pandemic). Over 10 years: +4.0% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.7%
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What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+55.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+54.2%
Dividend (yield on the price)1.5%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 20%
⚠ Revenue per share shrinking 10.6%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Negative
Recent news coverage is more negative than average.
AI conclusion: Regulation offers a limited moat in this utility business, yet high leverage and a history of safety incidents remain the central weakness.
Main risk: Community choice aggregators in California could source electricity for customers in PG&E territory instead of the utility, reducing its role in power procurement and potentially squeezing margins on supply.
Bull case: PG&E could leverage rising data center demand from AI to fund grid upgrades and demonstrate value, helping retain customers and negotiate favorable terms with regulators and aggregators.
Bear case: If municipal takeovers and CCA expansion accelerate, PG&E could lose significant distribution territory and procurement volume, eroding its regulated asset base and long-term revenue stability.
PG&E delivered third-quarter results in line with expectations and reaffirmed its earnings guidance for 2026 and 2027. Yet the company is cutting planned capital spending and running a strategic review to tackle the elevated financing costs tied to California's wildfire liability framework. Our models see the shares as undervalued, but will operational progress and possible structural steps ease the regulatory pressure or will the liability rules keep limiting investment?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Electric · 156 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score34 · Bottom 25%
Fair Value upside+29.0% · Above median
Profitability
Return on equity (12 months)8.9% · Below median
Return on assets1.9% · Bottom 25%
Net margin (12 months)11.6% · Above median
Operating margin (12 months)23.6% · Above median
Growth and dividend
Revenue growth (quarter YoY)−1.0% · Below median
Dividend yield (12 months)1.5% · Bottom 25%
Balance sheet
Debt / equity1.76× · Highest 25%
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
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Cite: Fair Value Calculator (2026). "PG&E Corp Fair Value". https://www.fairvalue-calculator.com/stock/PCG
Frequently asked questions
Is PG&E Corp (PCG) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $17.29 versus a price of $13.40, about +29% upside (undervalued).
What is the fair value of PCG?
Our model-based fair value for PG&E Corp is $17.29 (as of Nov 5, 2026), built from audited fundamentals. The current price: $13.40.
What is the quality score of PCG?
PG&E Corp has a Quality Score of 34/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for PG&E Corp (PCG)?
Our model-based price target is the fair value of $17.29 (as of Nov 5, 2026) from 15 valuation models. Cautious scenario $12.49, optimistic scenario $23.20. It is a calculation from audited fundamentals, not an analyst target.
What is the PG&E Corp stock forecast for 2026?
Our models put fair value at $17.29, about +29% upside versus a price of $13.40 (undervalued). Cautious scenario $12.49, optimistic scenario $23.20. The calculation is refreshed regularly with new filings.
What is the revenue of PG&E Corp (PCG)?
PG&E Corp reported trailing-twelve-month revenue of about $25.8B (latest available figure, as of Nov 5, 2026).
Does PG&E Corp pay a dividend?
PG&E Corp currently shows a dividend yield of 1.49% relative to its recent price (as of Nov 5, 2026).
What is the intrinsic value of PG&E Corp (PCG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PG&E Corp it is $17.29 per share (as of Nov 5, 2026), against a price of $13.40. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is PG&E Corp stock overvalued or undervalued in 2026?
As of Nov 5, 2026, PCG trades below its calculated fair value: price $13.40, fair value $17.29, a gap of about +29% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PCG?
No. The price is what the market pays today ($13.40); the fair value is what the company's own numbers justify ($17.29). For PG&E Corp the two are $3.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is PG&E Corp worth?
The market values PG&E Corp at about $38.9B (market capitalisation, as of Nov 5, 2026). Per share that is $13.40; our models calculate a fair value of $17.29 per share.
What do the bullish and bearish scenarios say about PCG?
Our models span a range for PG&E Corp: cautious scenario $12.49, base $17.29, optimistic $23.20 per share (as of Nov 5, 2026, price $13.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PCG?
PG&E Corp trades at a price-to-earnings ratio of 9.6 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $17.29 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 3.7 (reported for FY2025: 10.9). Median P/E at fiscal year-end, 7 fiscal years (2016 to 2025), reported earnings, 4 of the years ex one-offs: 15.7. Other multiples: PEG 0.5, P/B 1.2, P/S 1.5, EV/EBITDA 9.0.
What is the PEG ratio of PCG?
The PEG ratio of PG&E Corp is 0.54 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of PG&E Corp (PCG)?
Balance-sheet figures for PG&E Corp (as of Nov 5, 2026): return on equity 8.9%, debt of 1.76 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is PCG from its 52-week high?
PG&E Corp trades at $13.40, about 29% below its 52-week high of $18.92 and 13% above the low of $11.90 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $17.29 is for.
Which stocks are comparable to PG&E Corp?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is PG&E Corp stock attractive at the current price?
The data as of Nov 5, 2026: price $13.40, calculated fair value $17.29 (+29%), Quality Score 34/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PCG calculated?
We run PG&E Corp through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $17.29, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.6% above its aggregate fair value. PG&E Corp currently trades 22% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of PG&E Corp (PCG)?
The closing price on Nov 4, 2026 was $13.40. Our model-based fair value is $17.29, about +29% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PG&E Corp right now?
A fairly wide model range ($12.49 to $23.20) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of PG&E Corp
How large is the market capitalisation of PG&E Corp (PCG)?
The market capitalisation of PG&E Corp is $38.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of PG&E Corp (PCG)?
The price-to-sales ratio of PG&E Corp is 1.51 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PG&E Corp (PCG)?
Earnings per share at PG&E Corp are $1.35 (price ÷ EPS = P/E 9.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PG&E Corp (PCG)?
The dividend yield of PG&E Corp is 1.5% (payout 5.0%, on adjusted earnings, reported 14.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PG&E Corp (PCG)?
The net margin of PG&E Corp is 11.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of PG&E Corp (PCG)?
The return on equity (ROE) of PG&E Corp is 8.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of PG&E Corp (PCG)?
On an EBIT basis the return on assets of PG&E Corp is 2.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of PG&E Corp (PCG)?
The operating margin of PG&E Corp is 23.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PG&E Corp (PCG)?
Revenue at PG&E Corp is growing −1.0% versus a year earlier (3y avg +4.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at PG&E Corp (PCG)?
Earnings per share at PG&E Corp are growing −8.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PG&E Corp (PCG) generate?
The free cash flow of PG&E Corp is −$3.1B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does PG&E Corp (PCG) carry?
The net debt of PG&E Corp is $60.6B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 5, 2026