PG&E
PG&E returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | 4.09% | — | 9.39% | 2.25% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | 4.04% | — | 8.9% | 2.13% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | 3.91% | — | 8.27% | 1.96% | — |
| FY 2025 Q3 | Sep 30, 2025 | — | 3.81% | — | 8.83% | 2% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 3.76% | — | 8.19% | 1.82% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 3.83% | — | 8.33% | 1.83% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | 3.95% | — | 8.97% | 1.94% | — |
| FY 2024 Q3 | Sep 30, 2024 | — | 4.1% | — | 10.78% | 2.16% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 3.59% | — | 10.07% | 2.01% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 3.06% | — | 9.8% | 1.96% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | 2.53% | — | 9.37% | 1.85% | — |
| FY 2023 Q3 | Sep 30, 2023 | — | 1.58% | — | 7.92% | 1.54% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | 1.93% | — | 8.54% | 1.67% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | 2.01% | — | 8.47% | 1.71% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | 1.95% | — | 8.22% | 1.63% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | 2.49% | — | 8.24% | — | — |
| FY 2022 Q2 | Jun 30, 2022 | 0.98% | 2.1% | — | 0.98% | — | -3.4 pp |
| FY 2022 Q1 | Mar 31, 2022 | 0.88% | 2.44% | — | 1.19% | 0.26% | -3.5 pp |
| FY 2021 Q4 | Dec 31, 2021 | — | 2.21% | — | -0.49% | -0.09% | — |
| FY 2021 Q3 | Sep 30, 2021 | — | 1.98% | — | -1.81% | -0.36% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | 2.37% | — | 6.38% | 0.78% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | 1.7% | — | -11.78% | -1.68% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | 2.17% | — | -10.09% | -1.42% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | -3.72% | — | -34.75% | -5.65% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | -8.03% | — | -98.44% | -7.05% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | -12.35% | — | -80.7% | -8.76% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | -17.89% | — | -86.09% | -9.42% | — |
| FY 2019 Q3 | Sep 30, 2019 | — | -21.65% | — | -77.42% | -13.87% | — |
| FY 2019 Q2 | Jun 30, 2019 | — | -17.7% | — | -59.87% | -11.3% | — |
| FY 2019 Q1 | Mar 31, 2019 | — | -14.58% | — | -43.9% | -9.5% | — |
| FY 2018 Q4 | Dec 31, 2018 | — | -20.17% | — | -42.99% | -9.43% | — |
| FY 2018 Q3 | Sep 30, 2018 | — | 0.41% | — | 0.71% | 0.21% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | 0.75% | — | 0.65% | 0.19% | — |
| FY 2018 Q1 | Mar 31, 2018 | 5.48% | 4.32% | -22.88% | 7.94% | 2.22% | 1.1 pp |
| FY 2017 Q4 | Dec 31, 2017 | 6.06% | 4.85% | 9.71% | 8.86% | 2.43% | 1.7 pp |
| FY 2017 Q3 | Sep 30, 2017 | 7.85% | 5.74% | — | 12.22% | 3.24% | 3.4 pp |
| FY 2017 Q2 | Jun 30, 2017 | 7.46% | 5.41% | — | 11.65% | 3.05% | 3.1 pp |
| FY 2017 Q1 | Mar 31, 2017 | 7.05% | 4.88% | — | 10.65% | 2.8% | 2.6 pp |
| FY 2016 Q4 | Dec 31, 2016 | 5.95% | 3.69% | — | 8.07% | 2.13% | 1.6 pp |
| FY 2016 Q3 | Sep 30, 2016 | — | 2.31% | — | 4.92% | 1.32% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | 2.17% | — | 4.6% | 1.2% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | 2.71% | — | 5.88% | 1.54% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | 2.71% | — | 5.41% | 1.44% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | 3.12% | — | 5.39% | 1.48% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | 4.17% | — | 8.86% | 2.34% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | 3.91% | — | 8.16% | 2.15% | — |
| FY 2014 Q4 | Dec 31, 2014 | 6.53% | 4.79% | 26.4% | 9.54% | 2.51% | 2.1 pp |
| FY 2014 Q3 | Sep 30, 2014 | 6.57% | — | 27.28% | 9.34% | 2.48% | 2.2 pp |
| FY 2014 Q2 | Jun 30, 2014 | 4.41% | 3.34% | -2.93% | 5.13% | 1.36% | 0 pp |
| FY 2014 Q1 | Mar 31, 2014 | 4.73% | 3.64% | 2.25% | 5.68% | 1.5% | 0.3 pp |
| FY 2013 Q4 | Dec 31, 2013 | 4.8% | 3.74% | 1.96% | 5.94% | 1.53% | 0.4 pp |
| FY 2013 Q3 | Sep 30, 2013 | 4.37% | — | -9.89% | 5.27% | 1.37% | -0 pp |
| FY 2013 Q2 | Jun 30, 2013 | — | 4.14% | — | 6.86% | 1.78% | — |
| FY 2013 Q1 | Mar 31, 2013 | 4.85% | 3.84% | -3.68% | 6.29% | 1.62% | 0.5 pp |
| FY 2012 Q4 | Dec 31, 2012 | 4.95% | 3.84% | -0.62% | 6.48% | 1.62% | 0.5 pp |
| FY 2012 Q3 | Sep 30, 2012 | 5.34% | 4.47% | -6.36% | 7.27% | 1.88% | 0.9 pp |
| FY 2012 Q2 | Jun 30, 2012 | — | 4.09% | — | 6.11% | 1.57% | — |
| FY 2012 Q1 | Mar 31, 2012 | 5.32% | 4.78% | -8.98% | 7.32% | 1.85% | 0.9 pp |
| FY 2011 Q4 | Dec 31, 2011 | 5.23% | 4.8% | -17.68% | 7.22% | 1.79% | 0.8 pp |
| FY 2011 Q3 | Sep 30, 2011 | 6.17% | 5.27% | -6.28% | 8.8% | 2.21% | 1.8 pp |
| FY 2011 Q2 | Jun 30, 2011 | 6.41% | 5.65% | -7.24% | 9.44% | 2.37% | 2 pp |
| FY 2011 Q1 | Mar 31, 2011 | 6.43% | 5.86% | -12.61% | 9.55% | 2.35% | 2 pp |
| FY 2010 Q4 | Dec 31, 2010 | 6.81% | 6.16% | -5.79% | 10.17% | 2.5% | 2.4 pp |
| FY 2010 Q3 | Sep 30, 2010 | 7.17% | 6.35% | — | 10.59% | — | 2.8 pp |
| FY 2010 Q2 | Jun 30, 2010 | 7.52% | 6.85% | — | 11.36% | — | 3.1 pp |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 4.4%, rounded from the Utility · General benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · PCG, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.