회사 개요
Public Service Enterprise Group Incorporated operates as a regulated utility entity within the United States, providing essential electric and gas services alongside nuclear generation capabilities through its subsidiary segments. The company functions primarily within the Utilities sector, specifically classified under the Regulated Electric industry, which implies a business model subject to government oversight regarding rates and service obligations. This substantial utility operator manages a workforce of 13,189 employees and maintains a total market capitalization of $41.28B, reflecting its significant presence in the energy infrastructure landscape. With annual revenues reaching $12.17B, these financial metrics indicate that PEG is a large-scale enterprise capable of delivering stable, utility-scale power and gas distribution to a wide customer base across its service territories.
재무 건전성
The company reported total revenues of $12.17B for the trailing twelve months, generating net income of $2.11B and an EBITDA of $4.50B, highlighting a cost structure where operating expenses consume a significant portion of top-line growth. The reported free cash flow stands at -$105,000,000, which suggests a period of capital expenditure intensity or specific cash outflows that temporarily constrain the company's immediate financial flexibility for discretionary spending. Margin analysis reveals a gross margin of 34.8%, an operating margin of 18.1%, and a profit margin of 17.3%, indicating that while the company retains substantial value after direct costs, operating leverage and other overheads reduce the final profitability relative to sales. In terms of leverage, the firm holds $132.00M in cash against a total debt load of $24.23B, resulting in a debt-to-equity ratio of 142.68% that characterizes a highly leveraged balance sheet typical for capital-intensive utility firms. The current ratio of 0.80 indicates that current assets fall short of covering current liabilities, pointing to a liquidity structure that relies heavily on long-term financing rather than short-term working capital management. Return on equity is calculated at 12.8% while return on assets sits at 3.4%, suggesting that the company generates higher returns on shareholder capital compared to its total asset base due to the high level of financial leverage employed.
밸류에이션 평가
Valuation metrics show a trailing P/E ratio of 19.60 compared to a forward P/E of 17.56, implying that the market anticipates an expansion in earnings per share over the coming year that would justify a lower multiple relative to current valuations. The price-to-book ratio is recorded at 2.43, indicating that the stock trades at a significant premium over its tangible book value, a common characteristic for regulated utilities with intangible regulatory assets and monopoly franchise values. Alternative valuation measures include a price-to-sales ratio of 3.39 and an EV/EBITDA of 14.51, which provide context by comparing enterprise value to operational cash generation and sales volume, respectively, suggesting the market values the company's cash flow generation capability. The 52-week price range spans from a low of $75.17 to a high of $91.26, and the current trading price sits within this band, reflecting the volatility constraints inherent in regulated equity markets. With a beta of 0.60, the stock exhibits lower price volatility relative to the broader market, making it a less sensitive instrument to macroeconomic fluctuations compared to high-beta growth stocks.
Growth & Income
Revenue growth for the trailing twelve months is recorded at 18.3%, while earnings growth stands at 10.5%, indicating that earnings are expanding at a slower pace than top-line revenue, which often points to margin compression or one-time costs impacting the bottom line. As a dividend payer, the company offers a yield of 3.2% supported by a payout ratio of 59.7%, suggesting that the dividend distribution is sustainable as it consumes less than 60% of the generated earnings and leaves room for reinvestment. The lower payout ratio relative to the high dividend yield implies a conservative approach to dividend growth that prioritizes stability over aggressive yield expansion in a capital-intensive environment. Overall, the company presents a profile of moderate revenue expansion with steady earnings growth and a reliable income stream, balancing capital intensity with a consistent track record of shareholder returns in the regulated utility sector.