PUBLIC SERVICE ENTERPRISE GROUP INC PEG
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. We are a public utility holding company that, acting through our wholly owned subsidiaries, is a predominantly regulated electric and gas utility and a nuclear generation business. Our business plan focuses on achieving growth by allocating capital primarily toward regulated investments in an effort to continue to improve the sustainability and predictability of our business and realizing the value of the consistent and reliable carbon-free generation from our nuclear units.
As a holding company, our profitability depends on our subsidiaries' operating results. We principally conduct our business through two direct wholly owned subsidiaries, PSE&G and PSEG Power LLC (PSEG Power), described below, each of which also has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.12B | $9.87B | $9.25B | $11.23B | $10.31B | $9.10B | $9.31B | $9.34B | $8.35B | $8.17B |
| Cost of revenue | — | — | — | — | — | $3.06B | $3.37B | $3.23B | $2.78B | $2.90B |
| Gross profit | — | — | — | — | — | $6.04B | $5.94B | $6.11B | $5.57B | $5.27B |
| Total operating expenses | $9.19B | $7.94B | $7.55B | $8.42B | $10.58B | $7.33B | $8.13B | $7.40B | $7.67B | $7.37B |
| Operating income | $2.98B | $2.35B | $3.69B | $1.38B | -$856.0M | $2.27B | $1.94B | $2.30B | $1.43B | $1.60B |
| Interest expense | $1.00B | $882.0M | $748.0M | $628.0M | $571.0M | $600.0M | $569.0M | $476.0M | $391.0M | $385.0M |
| Pre-tax income | $2.37B | $1.82B | $3.08B | $1.00B | -$1.09B | $2.30B | $1.95B | $1.85B | $1.27B | $1.30B |
| Income tax | $263.0M | $53.0M | $518.0M | $29.0M | $441.0M | $396.0M | $257.0M | $417.0M | $306.0M | $411.0M |
| Net income | $2.11B | $1.77B | $2.56B | $1.03B | -$648.0M | $1.91B | $1.69B | $1.44B | $1.57B | $887.0M |
| EPS, basic | 4.23 | 3.56 | 5.15 | 2.07 | -1.29 | 3.78 | 3.35 | 2.85 | 3.12 | 1.76 |
| EPS, diluted | 4.22 | 3.54 | 5.13 | 2.06 | -1.29 | 3.76 | 3.33 | 2.83 | 3.10 | 1.75 |
| Shares, diluted (wtd. avg.) | $501.0M | $500.0M | $500.0M | $501.0M | $504.0M | $507.0M | $507.0M | $507.0M | $507.0M | $508.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $132.0M | $125.0M | $99.0M | $511.0M | $863.0M | $572.0M | $176.0M | $199.0M | $315.0M | $426.0M |
| Receivables | $1.89B | $1.60B | $1.48B | $1.94B | $1.86B | $1.41B | $1.31B | $1.44B | $1.35B | $1.16B |
| Total current assets | $4.60B | $4.24B | $3.37B | $4.30B | $6.25B | $3.63B | $3.23B | $3.51B | $3.31B | $3.25B |
| Goodwill | — | — | — | — | — | — | $0 | $16.0M | $16.0M | $16.0M |
| Other intangibles | — | — | — | $14.0M | $20.0M | $158.0M | $149.0M | $143.0M | $114.0M | $98.0M |
| Total assets | $57.58B | $54.64B | $50.74B | $48.72B | $49.00B | $50.05B | $47.73B | $45.33B | $42.72B | $40.07B |
| Accounts payable | $1.49B | $1.14B | $1.21B | $1.27B | $1.31B | $1.33B | $1.36B | $1.45B | $1.69B | $1.46B |
| Short-term debt | $875.0M | $2.15B | $1.50B | $1.57B | $700.0M | $1.68B | $1.36B | $1.29B | $1.00B | $500.0M |
| Total current liabilities | $5.74B | $6.50B | $5.06B | $6.68B | $7.07B | $5.52B | $5.05B | $4.93B | $4.17B | $3.28B |
| Long-term debt | $21.67B | $18.96B | $17.78B | $16.50B | $15.22B | $14.50B | $13.74B | $13.17B | $12.07B | $10.89B |
| Retained earnings | $13.45B | $12.59B | $12.02B | $10.59B | $10.64B | $12.32B | $11.41B | $10.58B | $9.88B | $9.17B |
| Total equity | $16.98B | $16.11B | $15.48B | $13.73B | $14.44B | $15.98B | $15.09B | $14.38B | $13.85B | $13.13B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.30B | $2.13B | $3.81B | $1.50B | $1.74B | $3.10B | $3.38B | $2.91B | $3.26B | $3.31B |
| Depreciation and amortisation | — | — | — | — | — | — | — | $1.16B | $1.99B | $1.48B |
| Capital expenditure | $3.27B | $3.38B | $3.33B | $2.89B | $2.72B | $2.92B | $3.17B | $3.91B | $4.19B | $4.20B |
| Investing cash flow | -$3.31B | -$3.31B | -$2.96B | -$1.10B | -$2.24B | -$2.68B | -$3.15B | -$3.92B | -$4.26B | -$4.25B |
| Financing cash flow | $12.0M | $1.23B | -$1.26B | -$754.0M | $799.0M | -$30.0M | -$257.0M | $887.0M | $885.0M | $966.0M |
| Dividends paid | $1.26B | $1.20B | $1.14B | $1.08B | $1.03B | $991.0M | $950.0M | $910.0M | $870.0M | $830.0M |
| Buybacks | — | $0 | $0 | $500.0M | $0 | $0 | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-077446.
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