PEG PUBLIC SERVICE ENTERPRISE GROUP INC

Overview and Growth

Fiscal 2025 results for PUBLIC SERVICE ENTERPRISE GROUP INC combined $12.17B of revenue with net income of $2.11B and an operating cash inflow of $3.30B. Revenue of $12.17B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $10.29B in fiscal 2024, revenue recorded a 18.3% year-over-year increase. Diluted earnings per share were $4.22, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted EPS increased by 19.2% from $3.54 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. Revenue equaled 0.21x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $8.01B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 65.8%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced $2.98B of income after the reported operating expense base, before the remaining non-operating and tax effects. Operating margin measured 24.5%, showing the portion of revenue preserved after the full set of operating costs. Net income came to $2.11B, completing the progression from revenue through gross and operating profitability to the final reported result. Net margin was 17.3%, meaning that this portion of revenue remained as net income after all recognized expenses. The earnings statement records $2.37B of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 19.5% of revenue, placing earnings before tax in the context of the company’s operating scale. The company recognized $263.00M of income tax for the period, completing the transition from pretax income to net income. Relative to pretax income, the tax provision measured 11.1%, quantifying the portion of pre-tax earnings paid in income tax.

Liquidity and Capital Structure

At period end, current assets of $4.60B compared with current liabilities of $5.74B, defining the company’s short-term resource position. Current assets covered only 0.8x of current liabilities, so current liabilities exceeded current assets at period end. The company held $132.00M in cash and equivalents, a narrower liquidity measure than total current assets. Cash and equivalents represented 2.3% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $22.55B, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 1.33x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 39.2% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 32.9%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 0.2% of total assets, showing the liquid cash component within the company’s broader resource base.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $3.30B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Operating cash flow equaled 1.56x of net income, showing how strongly accounting earnings converted into cash from operations. The cash-flow statement records $3.27B of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 99.2% of operating cash flow, leaving the remainder available as free cash flow. The combination of operating cash flow and capital spending produced $26.00M of positive free cash flow for the period. The free-cash-flow margin was 0.2%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 0.0%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.