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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 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,647 | 2,923 | 3,440 | 3,576 |
| Operating Revenue | - | 2,579 | 2,868 | 3,357 | 3,471 |
| 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 |
| Selling General And Administration | - | 340 | 341 | 403 | 392 |
| Total Expenses | - | 2,250 | 2,527 | 2,928 | 3,021 |
| Operating Income | - | 397 | 396 | 512 | 555 |
| Total Operating Income As Reported | - | 397 | 396 | 512 | 555 |
| EBITDA | - | 845 | 904 | 1,057 | 1,169 |
| Normalized EBITDA | - | 831 | 885 | 1,034 | 1,151 |
| EBIT | - | 428 | 446 | 561 | 591 |
| Interest Expense | - | 156 | 173 | 211 | 232 |
| Net Interest Income | - | -156 | -173 | -211 | -232 |
| Other Non Operating Income Expenses | - | 17 | 31 | 26 | 18 |
| Other Income Expense | - | 31 | 50 | 49 | 36 |
| Interest Expense Non Operating | - | 156 | 173 | 211 | 232 |
| Net Non Operating Interest Income Expense | - | -156 | -173 | -211 | -232 |
| Pretax Income | - | 272 | 273 | 350 | 359 |
| Tax Provision | - | 39 | 45 | 37 | 53 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 2 | 3.12 | 2.46 | 2.66 |
| Net Income Continuous Operations | - | 233 | 228 | 313 | 306 |
| Net Income From Continuing And Discontinued Operation | - | 233 | 228 | 313 | 306 |
| Net Income From Continuing Operation Net Minority Interest | - | 233 | 228 | 313 | 306 |
| Net Income | - | 233 | 228 | 313 | 306 |
| Net Income Common Stockholders | - | 233 | 228 | 313 | 306 |
| Net Income Including Noncontrolling Interests | - | 233 | 228 | 313 | 306 |
| Normalized Income | - | 221 | 212.12 | 292.46 | 290.66 |
| Diluted NI Availto Com Stockholders | - | 233 | 228 | 313 | 306 |
| Basic Average Shares | - | 89.29 | 97.76 | 103.95 | 110.47 |
| Diluted Average Shares | - | 89.64 | 97.95 | 104.16 | 110.74 |
| Reconciled Depreciation | - | 417 | 458 | 496 | 578 |
| Reconciled Cost Of Revenue | - | 1,336 | 1,564 | 1,854 | 1,861 |
| Total Unusual Items | - | 14 | 19 | 23 | 18 |
| Total Unusual Items Excluding Goodwill | - | 14 | 19 | 23 | 18 |
| Special Income Charges | - | 14 | 19 | 23 | 18 |
| Other Special Charges | - | -14 | -19 | -23 | -18 |
| 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 |
| Other Operating Expenses | 310 | 348 | 374 | - | - |
| Other Taxes | - | 157 | 164 | 175 | 190 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Portland General Electric Companythis co. | POR | $5.7B | 18.79 | 1.39 | 7.4% | 9.09 |
| TXNM Energy, Inc. | TXNM | $6.6B | 43.21 | 1.93 | 4.5% | 13.10 |
| Southwest Gas Holdings, Inc. | SWX | $6.3B | 14.34 | 1.59 | 11.1% | 10.69 |
| New Jersey Resources Corporation | NJR | $5.5B | 16.42 | 2.30 | 14.0% | 12.47 |
| Black Hills Corporation | BKH |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $5.5B |
| 18.77 |
| 1.43 |
| 7.6% |
| 11.98 |
| Brookfield Infrastructure Corporation | BIPC | $5.1B | - | - | 18.6% | 6.17 |
| Fluence Energy, Inc. | FLNC | $5.0B | -103.57 | 11.65 | -11.2% | -276.81 |
| ONE Gas, Inc. | OGS | $4.9B | 18.36 | 1.41 | 7.7% | 10.51 |
| Spire Inc. | SR | $4.8B | 17.65 | 1.52 | 8.6% | 11.95 |
| Peer Median | - | 17.65 | 1.59 | 8.2% | 11.32 | |