PG&E Corp (PCG)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	50,975,000	50,343,000	50,230,000	48,508,000	47,742,000	47,854,000	44,174,000	39,123,000	38,225,000	35,959,000	35,955,000	37,801,000	37,288,000	36,311,000	34,920,000	22,176,000	0	—	—	0
Total stockholders’ equity	US$ in thousands	25,040,000	24,132,000	23,763,000	23,334,000	22,823,000	22,234,000	21,767,000	21,392,000	20,971,000	20,475,000	21,547,000	21,127,000	21,001,000	20,812,000	3,549,000	5,507,000	5,136,000	8,739,000	10,342,000	12,877,000
Debt-to-equity ratio		2.04	2.09	2.11	2.08	2.09	2.15	2.03	1.83	1.82	1.76	1.67	1.79	1.78	1.74	9.84	4.03	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $50,975,000K ÷ $25,040,000K
= 2.04

The debt-to-equity ratio of PG&E Corp. has remained relatively stable over the past eight quarters, ranging between 2.13 and 2.29. This indicates that the company has been consistently utilizing a higher proportion of debt to finance its operations compared to equity. A ratio above 1 suggests that PG&E Corp. relies more on debt financing, which can potentially entail higher financial risk due to the obligations associated with servicing debt. The slight fluctuations in the ratio suggest that the company's capital structure has not undergone significant changes during this period. It would be prudent for stakeholders to closely monitor PG&E Corp.'s debt levels and financial health to assess its ability to manage debt repayment obligations effectively.