Public Service Enterprise Group IncorporatedPEG
NYSE•Utilities•Utilities - Regulated Electric
Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility, and nuclear generation businesses in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs. The PSEG Power segment engages in nuclear generation businesses; and supplies power and natural gas to nuclear power plants. As of December 31, 2025, it had electric transmission and distribution system of 25,000 circuit miles and 871,000 poles; 58 switching stations with an installed capacity of 40,000 megavolt-amperes (MVA), and 238 substations with an installed capacity of 10,890 MVA; four electric distribution headquarters and five electric sub-headquarters; 18,000 miles of gas mains, 12 gas distribution headquarters, two sub-headquarters, and two meter shop, as well as 54 natural gas metering and regulating stations; and 158 MegaWatts defined conditions of installed PV solar capacity. The company was founded in 1903 and is based in Newark, New Jersey.
Public Service Enterprise Group (PEG) reported trailing twelve months revenue of $12.89B as of March 2026, a 22.1% increase year-over-year. Quarterly revenue reached $4.16B, reflecting continued top-line momentum.
Public Service Enterprise Group generated $2.26B in TTM net income, with quarterly EBITDA of $1.07B. The operating margin expanded from 23.5% to 25.9%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (25.9%) and net margin (17.8%) indicates moderate non-operating costs. Net margin has improved from 17.4% a year ago, signaling stronger bottom-line efficiency.
PEG trades at a P/E of 17.9x (in line with broad market averages) and a P/S of 3.2x. The price-to-book ratio of 2.3x reflects a moderate premium to book value.
The company generated $578.00M in free cash flow over the trailing twelve months, a 37.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $57.95B in total assets with $22.66B in long-term debt against $17.30B in stockholders equity for a debt-to-equity ratio of 1.3. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~24.4%, suggesting durable pricing power and cost discipline.
ROE is positive at ~11.9% on average, adequate but below the threshold typically associated with wide moats.
Only 3 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (7 of 7 quarters up), with ~36.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~25.4% — no sign of cost or pricing stress.
Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.3 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
5 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation