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Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, four wind farms, and seven hydroelectric facilities. As of December 31, 2025, the company owned an electric transmission system consisting of 1,744 circuit miles, including 287 circuit miles of 500 kilovolt line, 414 circuit miles of 230 kilovolt line, and 577 miles of 115 kilovolt line; 466 miles of 57 kilovolt line; and served 960 thousand retail customers in 51 cities. It also has 29,251 circuit miles of distribution lines. Portland General Electric Company was founded in 1889 and is headquartered in Portland, Oregon.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.6B | $1.2B | $306M | $-71M | 7.4% | 4.0% | -2.2% |
| 2024 | $3.4B | $1.1B | $313M | $-490M | 8.2% | 17.7% | 37.3% |
| 2023 | $2.9B | $904M | $228M | $-938M | 6.9% | 10.4% | -2.1% |
| 2022 | $2.6B | $845M | $233M | $-92M | 8.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,647 | 2,923 | 3,440 | 3,576 |
| Cost Of Revenue | 1,336 | 1,564 | 1,854 | 1,861 |
| Gross Profit | 1,311 | 1,359 | 1,586 | 1,715 |
| Operating Expense | 914 | 963 | 1,074 | 1,160 |
| Operating Income | 397 | 396 | 512 | 555 |
| EBITDA | 845 | 904 | 1,057 | 1,169 |
| EBIT | 428 | 446 | 561 | 591 |
| Pretax Income | 272 | 273 | 350 | 359 |
| Tax Provision | 39 | 45 | 37 | 53 |
| Net Income | 233 | 228 | 313 | 306 |
| Net Income Common Stockholders | 233 | 228 | 313 | 306 |
| Total Expenses | 2,250 | 2,527 | 2,928 | 3,021 |
| Interest Expense | 156 | 173 | 211 | 232 |
| Selling General And Administration | 340 | 341 | 403 | 392 |
| Normalized EBITDA | 831 | 885 | 1,034 | 1,151 |
| Normalized Income | 221 | 212.12 | 292.46 | 290.66 |
| Basic EPS | 2.61 | 2.33 | 3.02 | 0 |
| Diluted EPS | 2.60 | 2.33 | 3.01 | 0 |
| Tax Effect Of Unusual Items | 2 | 3.12 | 2.46 | 2.66 |
| Tax Rate For Calcs | 0.14 | 0.16 | 0.11 | 0.15 |
| Total Unusual Items | 14 | 19 | 23 | 18 |
| Total Unusual Items Excluding Goodwill | 14 | 19 | 23 | 18 |
| Net Income From Continuing Operation Net Minority Interest | 233 | 228 | 313 | 306 |
| Reconciled Depreciation | 417 | 458 | 496 | 578 |
| Reconciled Cost Of Revenue | 1,336 | 1,564 | 1,854 | 1,861 |
| Net Interest Income | -156 | -173 | -211 | -232 |
| Net Income From Continuing And Discontinued Operation | 233 | 228 | 313 | 306 |
| Total Operating Income As Reported | 397 | 396 | 512 | 555 |
| Diluted Average Shares | 89.64 | 97.95 | 104.16 | 0 |
| Basic Average Shares | 89.29 | 97.76 | 103.95 | 0 |
| Diluted NI Availto Com Stockholders | 233 | 228 | 313 | 306 |
| Net Income Including Noncontrolling Interests | 233 | 228 | 313 | 306 |
| Net Income Continuous Operations | 233 | 228 | 313 | 306 |
| Other Income Expense | 31 | 50 | 49 | 36 |
| Other Non Operating Income Expenses | 17 | 31 | 26 | 18 |
| Special Income Charges | 14 | 19 | 23 | 18 |
| Other Special Charges | -14 | -19 | -23 | -18 |
| Net Non Operating Interest Income Expense | -156 | -173 | -211 | -232 |
| Interest Expense Non Operating | 156 | 173 | 211 | 232 |
| Other Operating Expenses | 348 | 374 | 0 | 0 |
| Other Taxes | 157 | 164 | 175 | 190 |
| Depreciation Amortization Depletion Income Statement | 417 | 458 | 496 | 578 |
| Depreciation And Amortization In Income Statement | 417 | 458 | 496 | 578 |
| General And Administrative Expense | 340 | 341 | 403 | 392 |
| Other Gand A | 340 | 341 | 403 | 392 |
| Operating Revenue | 2,579 | 2,868 | 3,357 | 3,471 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Portland General Electric Companythis co. | POR | $5.9B | 18.43 | 1.43 | 7.4% | 9.72 |
| Ormat Technologies, Inc. | ORA | $6.8B | 54.61 | 2.64 | 4.6% | 20.43 |
| Southwest Gas Holdings, Inc. | SWX | $6.7B | 28.28 | 1.68 | 11.1% | 11.64 |
| TXNM Energy, Inc. | TXNM | $6.5B | 39.77 | 1.88 | 4.4% | 14.10 |
| Black Hills Corporation | BKH |
| $5.7B |
| 18.67 |
| 1.47 |
| 7.5% |
| 12.50 |
| New Jersey Resources Corporation | NJR | $5.6B | 17.15 | 2.26 | 14.0% | 13.89 |
| ONE Gas, Inc. | OGS | $5.5B | 20.05 | 1.60 | 7.7% | 11.43 |
| Spire Inc. | SR | $5.3B | 19.63 | 1.66 | 8.0% | 12.48 |
| Brookfield Infrastructure Corporation | BIPC | $4.3B | - | -3.28 | -12.0% | 7.01 |
| Peer Median | - | 20.05 | 1.67 | 7.6% | 12.49 | |