Public Service Enterprise Group Incorporated

PEG · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$40,082	$42,095	$30,472	$30,571	$33,743	$29,480	$29,859	$26,320	$26,042	$22,189	$19,564	$20,953	$16,209	$15,481	$16,701	$16,095	$16,824	$14,809	$24,931	$16,706	$15,614	$12,285	$10,002	$6,676	$8,785	$10,376	$7,623	$9,239	$7,382	$6,608	$7,480	$6,472	$7,204	$6,720	$6,230	$5,588	$5,828	$4,741	$4,874	$5,374	$4,349
Enterprise value	$64,322	$64,858	$50,824	$50,545	$52,554	$46,432	$46,208	$41,621	$39,339	$33,549	$29,103	$29,650	$24,420	$23,305	$23,963	$24,827	$25,180	$23,556	$34,401	$27,923	$28,241	$25,649	$23,522	$18,872	$21,332	$19,123	$14,984	$15,387	$14,012	$12,253	$13,289	$12,630	–	–	–	–	–	–	–	–	–
P/E (TTM) at period end	18.99×	23.76×	11.89×	29.65×	–	15.48×	17.64×	18.30×	16.54×	25.02×	11.65×	13.80×	13.04×	12.14×	11.11×	10.29×	10.57×	12.47×	18.68×	22.61×	23.62×	16.92×	8.62×	27.25×	11.41×	13.58×	–	14.35×	13.18×	10.80×	11.29×	9.53×	11.99×	13.33×	11.45×	9.78×	10.75×	8.97×	9.36×	12.50×	7.98×
P/S (TTM) at period end	3.29×	4.09×	2.71×	3.12×	3.47×	3.07×	2.96×	2.71×	2.86×	2.47×	1.88×	1.92×	1.63×	1.58×	1.51×	1.36×	1.40×	1.17×	1.97×	1.37×	1.26×	1.12×	0.90×	0.80×	0.90×	1.52×	1.17×	1.56×	1.16×	1.09×	1.21×	1.09×	1.26×	1.25×	1.22×	1.16×	1.21×	1.08×	1.16×	1.19×	0.99×
P/B at period end	2.36×	2.61×	1.97×	2.23×	2.34×	1.84×	1.98×	1.83×	1.88×	1.69×	1.50×	1.72×	1.40×	1.44×	1.63×	1.67×	1.91×	1.91×	3.42×	2.48×	2.59×	2.14×	1.78×	1.68×	2.12×	2.60×	1.91×	1.81×	1.25×	1.27×	1.22×	1.08×	–	–	–	–	–	–	–	–	–
EV / EBITDA (TTM)	13.96×	16.84×	9.98×	18.59×	73.40×	11.94×	13.29×	12.04×	11.52×	10.91×	6.97×	7.70×	7.02×	6.99×	6.43×	6.35×	6.37×	7.19×	9.43×	10.45×	10.27×	9.80×	9.11×	9.17×	9.17×	7.97×	6.19×	6.53×	6.81×	6.07×	–	–	–	–	–	–	–	–	–	–	–
EV / Sales (TTM)	5.29×	6.30×	4.52×	5.16×	5.41×	4.84×	4.59×	4.29×	4.33×	3.74×	2.79×	2.72×	2.45×	2.38×	2.16×	2.11×	2.09×	1.87×	2.71×	2.30×	2.27×	2.33×	2.12×	2.25×	2.17×	2.79×	2.31×	2.59×	2.20×	2.03×	2.16×	2.14×	–	–	–	–	–	–	–	–	–
Returns
Return on equity	12.4%	11.0%	16.6%	7.5%	(4.5%)	11.9%	11.2%	10.0%	11.4%	6.8%	12.9%	12.5%	10.7%	11.8%	14.6%	16.2%	18.1%	15.3%	18.3%	11.0%	11.0%	12.6%	20.7%	6.2%	18.6%	19.1%	(2.0%)	12.6%	9.5%	11.7%	10.8%	11.3%	–	–	–	–	–	–	–	–	–
Return on invested capital	6.4%	5.9%	8.6%	4.1%	(1.5%)	5.7%	5.4%	6.0%	5.3%	4.5%	8.2%	7.8%	7.0%	7.8%	9.2%	9.5%	11.0%	8.1%	9.4%	6.0%	6.2%	5.9%	6.7%	5.4%	7.0%	9.1%	8.9%	8.6%	6.9%	8.3%	7.8%	8.3%	–	–	–	–	–	–	–	–	–
Dividend yield	3.1%	2.8%	3.7%	3.5%	3.1%	3.4%	3.2%	3.5%	3.3%	3.7%	4.0%	3.6%	4.5%	4.6%	4.1%	4.3%	4.0%	4.4%	2.4%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	0.80×	0.65×	0.67×	0.64×	0.88×	0.66×	0.64×	0.71×	0.79×	0.99×	0.98×	1.18×	1.18×	1.02×	1.32×	1.45×	1.28×	1.17×	1.15×	1.29×	1.16×	1.19×	1.09×	0.82×	0.72×	0.55×	0.49×	0.68×	0.59×	0.77×	1.18×	0.73×	–	–	–	–	–	–	–	–	–
Debt / equity	1.33×	1.31×	1.25×	1.32×	1.10×	1.01×	1.00×	1.01×	0.94×	0.87×	0.73×	0.73×	0.72×	0.72×	0.77×	0.91×	0.91×	1.16×	1.35×	1.68×	2.14×	2.37×	2.49×	3.12×	3.07×	2.21×	1.91×	1.22×	1.13×	1.13×	0.95×	1.03×	–	–	–	–	–	–	–	–	–
Effective tax rate	11.1%	2.9%	16.8%	(2.9%)	40.5%	17.2%	13.2%	22.5%	(24.1%)	31.7%	37.4%	38.2%	39.5%	36.6%	41.0%	40.5%	39.5%	46.4%	44.7%	37.6%	38.7%	38.2%	35.3%	37.3%	32.8%	39.1%	43.8%	39.5%	37.0%	33.1%	34.8%	31.5%	–	–	–	–	–	–	–	–	–
Share count
Diluted shares outstanding	501	500	500	501	504	507	507	507	507	508	508	508	508	507	507	507	507	508	509	505	489	478	457	416	416	427	438	462	464	485	489	488	450	435	424	424	392	387	408	400	413

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$12,543	$12,168	$10,290	$11,237	$9,800	$9,722	$9,603	$10,076	$9,696	$9,094	$8,966	$10,415	$10,886	$9,968	$9,781	$11,079	$11,793	$12,035	$12,609	$12,677	$12,164	$12,430	$10,996	$11,116	$8,390	$9,815	$6,848	$6,497	$5,931	$6,370	$6,041	$6,164	$5,916	$5,706	$5,357	$5,093	$4,800	$4,805	$4,395	$4,211	$4,498	$4,409
Cost of revenue	($4,520)	($4,159)	($3,393)	($3,260)	($4,018)	($3,499)	($3,056)	($3,372)	($3,225)	($2,778)	($2,901)	($4,475)	($5,113)	($4,714)	($4,773)	($5,723)	($5,261)	($5,711)	($7,295)	($6,523)	($6,769)	($7,273)	($6,057)	($6,368)	($3,769)	($4,971)	($2,431)	($2,079)	($1,915)	($2,280)	($2,036)	($1,853)	($1,720)	–	–	–	–	–	–	–	–	–
Gross profit	$8,023	$8,009	$6,897	$7,977	$5,782	$6,223	$6,547	$6,704	$6,471	$6,316	$6,065	$5,940	$5,773	$5,254	$5,008	$5,356	$6,532	$6,695	$6,027	$6,330	$5,395	$5,157	$4,939	$4,748	$4,621	$4,844	$4,417	$4,418	$4,016	$4,090	$4,005	$4,311	$4,196	–	–	–	–	–	–	–	–	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	–	–	–	($218)	$376	$328	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total operating expenses	($5,121)	($5,029)	($4,544)	($4,292)	($4,401)	($7,079)	($4,277)	($4,761)	($4,173)	($4,887)	($4,467)	($2,978)	($3,150)	($2,955)	($2,730)	($2,614)	($3,595)	($3,579)	($3,543)	($3,484)	($3,669)	($3,269)	($3,122)	($2,783)	($3,217)	($3,114)	($2,510)	($2,624)	($2,412)	($2,721)	($2,653)	($2,880)	($2,720)	–	–	–	–	–	–	–	–	–
Total costs and expenses	($9,641)	($9,188)	($7,937)	($7,552)	($8,419)	($10,578)	($7,333)	($8,133)	($7,398)	($7,665)	($7,368)	($7,453)	($8,263)	($7,669)	($7,503)	($8,337)	($8,856)	($8,919)	($10,125)	($9,831)	($10,438)	($10,542)	($9,179)	($9,151)	($6,986)	($8,085)	($4,941)	($4,703)	($4,327)	($5,001)	($4,689)	($4,733)	($4,439)	–	–	–	–	–	–	–	–	–
Operating income	$2,902	$2,980	$2,353	$3,685	$1,381	($856)	$2,270	$1,943	$2,298	$1,429	$1,598	$2,962	$2,623	$2,299	$2,278	$2,742	$2,937	$3,116	$2,484	$2,846	$1,726	$1,888	$1,817	$1,965	$1,404	$1,730	$1,907	$1,794	$1,604	$1,369	$1,352	$1,431	$1,477	$5,706	$5,357	$5,093	$4,800	$4,805	$4,395	$4,211	$4,498	$4,409
Earnings
EBITDA	$4,559	$4,608	$3,851	$5,091	$2,719	$716	$3,890	$3,477	$3,456	$3,415	$3,074	$4,176	$3,850	$3,477	$3,332	$3,724	$3,911	$3,954	$3,277	$3,648	$2,673	$2,749	$2,616	$2,581	$2,058	$2,327	$2,399	$2,422	$2,357	$2,059	$2,019	–	–	–	–	–	–	–	–	–	–	–
Interest income	$27	$32	$32	$53	$31	$20	$25	$26	$29	$30	$30	$31	$30	$29	$18	$10	$6	$227	$407	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($1,057)	($1,005)	($882)	($748)	($628)	($571)	($600)	($569)	($476)	($391)	($385)	($393)	($389)	($402)	($423)	($475)	($472)	($521)	($566)	($727)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$2,277	$2,374	$1,825	$3,081	$1,002	($1,089)	$2,301	$1,950	$1,855	$1,268	$1,298	$2,680	$2,456	$2,055	$2,011	$2,384	$2,616	$2,636	$1,913	$2,379	$1,206	$1,399	$1,167	$1,316	$664	$1,136	$1,254	$1,286	$1,064	$889	$878	$1,016	$992	–	–	–	–	–	–	–	–	–
Income tax expense	($265)	($263)	($53)	($518)	$29	$441	($396)	($257)	($417)	$306	($411)	($1,001)	($938)	($812)	($736)	($977)	($1,059)	($1,042)	($888)	($1,064)	($454)	($541)	($446)	($464)	($248)	($373)	($490)	($563)	($420)	($329)	($290)	($354)	($313)	($5,105)	($4,853)	($4,549)	($4,229)	($4,263)	($3,866)	($3,691)	($4,069)	($3,864)
Net income	$2,012	$2,111	$1,772	$2,563	$1,031	($648)	$1,905	$1,693	$1,438	$1,574	$887	$1,679	$1,518	$1,243	$1,275	$1,503	$1,564	$1,592	$1,188	$1,335	$739	$661	$726	$1,160	$245	$770	$764	($81)	$644	$560	$612	$662	$679	$601	$504	$544	$571	$542	$529	$520	$430	$545
Per share
Diluted EPS (GAAP)	$4.02	$4.22	$3.54	$5.13	$2.06	($1.29)	$3.76	$3.33	$2.83	$3.10	$1.75	$3.30	$2.99	$2.45	$2.51	$2.96	$3.08	$3.14	$2.34	$2.62	$1.46	$1.35	$1.52	$2.54	$0.56	$1.84	$1.79	($0.18)	$1.40	$1.21	$1.26	$1.36	$1.39	$1.25	$1.09	$1.22	$1.28	$1.31	$1.29	$1.27	$0.95	$1.32
Basic EPS (GAAP)	$4.03	$4.23	$3.56	$5.15	$2.07	($1.29)	$3.78	$3.35	$2.85	$3.12	$1.76	$3.32	$3.00	$2.46	$2.52	$2.97	$3.09	$3.15	$2.34	$2.63	$1.47	$1.38	$1.53	$2.54	$0.56	$1.84	$1.79	($0.18)	$1.40	$1.21	$1.26	$1.36	$1.39	$1.25	$1.09	$1.22	$1.28	$1.31	$1.29	$1.27	$0.95	$1.32
Basic shares outstanding	499	499	498	498	498	504	504	504	504	505	505	505	506	506	506	506	506	506	508	508	503	481	475	457	416	416	427	438	462	464	485	489	488	450	435	424	424	392	387	408	400	413
Margins
Gross margin	64.0%	65.8%	67.0%	71.0%	59.0%	64.0%	68.2%	66.5%	66.7%	69.5%	67.6%	57.0%	53.0%	52.7%	51.2%	48.3%	55.4%	55.6%	47.8%	49.9%	44.4%	41.5%	44.9%	42.7%	55.1%	49.4%	64.5%	68.0%	67.7%	64.2%	66.3%	69.9%	70.9%	–	–	–	–	–	–	–	–	–
Operating margin	23.1%	24.5%	22.9%	32.8%	14.1%	(8.8%)	23.6%	19.3%	23.7%	15.7%	17.8%	28.4%	24.1%	23.1%	23.3%	24.7%	24.9%	25.9%	19.7%	22.5%	14.2%	15.2%	16.5%	17.7%	16.7%	17.6%	27.8%	27.6%	27.0%	21.5%	22.4%	23.2%	25.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Net margin	16.0%	17.3%	17.2%	22.8%	10.5%	(6.7%)	19.8%	16.8%	14.8%	17.3%	9.9%	16.1%	13.9%	12.5%	13.0%	13.6%	13.3%	13.2%	9.4%	10.5%	6.1%	5.3%	6.6%	10.4%	2.9%	7.8%	11.2%	(1.2%)	10.9%	8.8%	10.1%	10.7%	11.5%	10.5%	9.4%	10.7%	11.9%	11.3%	12.0%	12.4%	9.6%	12.4%

Analyst consensus

Buy33 analysts

Bearish · 1 · Hold · 16 · Bullish · 16

Earnings history

	EPS	Estimate
Q3 2024	$0.90	$0.87	Beat
Q4 2024	$0.84	$0.82	Beat
Q1 2025	$1.43	$1.44	Miss
Q2 2025	$0.77	$0.70	Beat
Q3 2025	$1.13	$1.02	Beat
Q4 2025	$0.72	$0.71	Beat
Q1 2026	$1.55	$1.44	Beat
Q2 2026	$0.86	$0.79	Beat

Peers

Company overview

IPO dateJan 2, 1980

CEORalph A. LaRossa

Employees13,189

SectorUtilities

IndustryRegulated Electric

CountryUS

ExchangeNew York Stock Exchange

Websiteinvestor.pseg.com

Public Service Enterprise Group Incorporated (PSEG) is an energy provider primarily operating through its subsidiaries in the Northeastern and Mid-Atlantic United States. The company's business activities are structured into two primary segments: PSE&G and PSEG Power. The PSE&G division is responsible for transmitting electricity and distributing both electricity and natural gas to residential, commercial, and industrial customers. This segment also commits resources to solar power generation projects and various energy efficiency initiatives, as well as offering appliance service and repair. By December 31, 2021, its substantial infrastructure included 25,000 circuit miles of electric transmission and distribution systems, supported by 862,000 utility poles. It also featured 56 switching stations with a total capacity of 39,353 megavolt-amperes (MVA) and 235 substations with a combined capacity of 9,285 MVA. The electric network was further managed by four main and five sub-electric distribution headquarters. On the gas side, PSE&G maintained 18,000 miles of gas mains, twelve primary and two secondary gas distribution headquarters, a single meter shop, and 58 natural gas metering and regulating stations. Public Service Enterprise Group Incorporated was established in 1985 and is headquartered in Newark, New Jersey.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.