Public Service Enterprise
PEG · NYSEElectric & Other Services Combined · Fiscal year ends Dec 31
Public Service Enterprise reported revenue of $12.2B in the fiscal year ended Dec 2025, up 18.3% from the year before. Operating income was $3B, an operating margin of 24.5%, and net income was $2.1B. Operating cash flow of $3.3B less capital expenditure of $3.3B left free cash flow of $26M. Net debt was $22.4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $9.7B | $9.8B | $11.2B | $10.3B | $12.2B |
| Operating income | −$856M | $1.4B | $3.7B | $2.4B | $3B |
| Interest expense | $571M | $628M | $748M | $882M | $1B |
| Pre-tax income | −$1.1B | $1B | $3.1B | $1.8B | $2.4B |
| Income tax | −$441M | −$29M | $518M | $53M | $263M |
| Net income | −$648M | $1B | $2.6B | $1.8B | $2.1B |
| Diluted EPS | −1.29 | 2.06 | 5.13 | 3.54 | 4.22 |
| Diluted shares | 504M | 501M | 500M | 500M | 501M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $818M | $465M | $54M | $125M | $132M |
| Receivables | $1.9B | $1.9B | $1.5B | $1.6B | $1.9B |
| Current assets | $6.3B | $4.3B | $3.4B | $4.2B | $4.6B |
| Total assets | $49B | $48.7B | $50.7B | $54.6B | $57.6B |
| Payables | $1.3B | $1.3B | $1.2B | $1.1B | $1.5B |
| Current liabilities | $7.1B | $6.7B | $5.1B | $6.5B | $5.7B |
| Short-term debt | $700M | $1.6B | $1.5B | $2.2B | $875M |
| Long-term debt | $15.2B | $16.5B | $17.8B | $19B | $21.7B |
| Shareholders' equity | $14.4B | $13.7B | $15.5B | $16.1B | $17B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.7B | $1.5B | $3.8B | $2.1B | $3.3B |
| Capital expenditure | $2.7B | $2.9B | $3.3B | $3.4B | $3.3B |
| Free cash flow | −$983M | −$1.4B | $481M | −$1.2B | $26M |
| Stock-based compensation | $28M | $29M | $18M | $40M | $43M |
| Share buybacks | $0 | $500M | $0 | $0 | – |
| Dividends paid | $1B | $1.1B | $1.1B | $1.2B | $1.3B |
| Dividend per share | 2.04 | 2.16 | 2.28 | 2.40 | 2.52 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 0.8% | 14.7% | −8.4% | 18.3% |
| Operating income growth (YoY) | – | – | 166.8% | −36.1% | 26.6% |
| EPS growth (YoY) | – | – | 149.0% | −31.0% | 19.2% |
| Operating margin | −8.8% | 14.1% | 32.8% | 22.9% | 24.5% |
| Net margin | −6.7% | 10.5% | 22.8% | 17.2% | 17.3% |
| Return on equityBlank when equity is negative | −4.5% | 7.5% | 16.6% | 11.0% | 12.4% |
| ROCEEBIT ÷ (assets − current liabilities) | −2.0% | 3.3% | 8.1% | 4.9% | 5.7% |
| Free cash flow margin | −10.1% | −14.1% | 4.3% | −12.1% | 0.2% |
| Cash conversion (CFO ÷ net income) | −2.68x | 1.46x | 1.48x | 1.20x | 1.56x |
| Receivable days | 70 | 72 | 48 | 57 | 57 |
| Interest cover | −1.50x | 2.20x | 4.93x | 2.67x | 2.97x |
| Debt ÷ equity | 1.10x | 1.32x | 1.25x | 1.31x | 1.33x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $15.1B | $17.6B | $19.2B | $21B | $22.4B |
| Current ratio | 0.88x | 0.64x | 0.67x | 0.65x | 0.80x |
Recent filings
More in Electric & Other Services Combined
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.