PG&E Corp (PCG)
Financial leverage ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 133,660,000 | 132,319,000 | 130,788,000 | 127,645,000 | 125,698,000 | 123,009,000 | 120,705,000 | 119,612,000 | 118,644,000 | 117,012,000 | 113,541,000 | 103,931,000 | 103,327,000 | 103,561,000 | 100,494,000 | 98,558,000 | 97,856,000 | 95,587,000 | 109,229,000 | 86,688,000 |
| Total stockholders’ equity | US$ in thousands | 30,149,000 | 26,834,000 | 26,253,000 | 25,731,000 | 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 |
| Financial leverage ratio | 4.43 | 4.93 | 4.98 | 4.96 | 5.02 | 5.10 | 5.08 | 5.13 | 5.20 | 5.26 | 5.22 | 4.86 | 4.93 | 5.06 | 4.66 | 4.67 | 4.66 | 4.59 | 30.78 | 15.74 |
December 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $133,660,000K ÷ $30,149,000K
= 4.43
The financial leverage ratio of PG&E Corp has shown fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio started at a relatively high level of 15.74 on March 31, 2020, indicating a significant reliance on debt to finance its operations. However, there was a substantial decrease in the ratio to 4.59 by September 30, 2020, suggesting a reduction in debt relative to equity.
From September 2020 to June 2021, the financial leverage ratio remained relatively stable around the 4.6 level, indicating a balanced capital structure. There was a slight uptick to 5.06 by September 30, 2021, and the ratio stayed in the range of 4.9 to 5.3 from December 2021 to June 2022, indicating a consistent debt-to-equity mix.
Subsequently, from June 2022 to December 2024, the financial leverage ratio fluctuated around the 5.0 level, indicating a moderate level of debt compared to equity. Overall, the trend in the financial leverage ratio of PG&E Corp shows a initial high leverage position followed by a period of deleveraging, and then maintaining a relatively stable ratio in the subsequent periods, suggesting a balanced approach to capital structure management.
Peer comparison
Dec 31, 2024