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Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility, and nuclear generation businesses in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs. The PSEG Power segment engages in nuclear generation businesses; and supplies power and natural gas to nuclear power plants. As of December 31, 2025, it had electric transmission and distribution system of 25,000 circuit miles and 871,000 poles; 58 switching stations with an installed capacity of 40,000 megavolt-amperes (MVA), and 238 substations with an installed capacity of 10,890 MVA; four electric distribution headquarters and five electric sub-headquarters; 18,000 miles of gas mains, 12 gas distribution headquarters, two sub-headquarters, and two meter shop, as well as 54 natural gas metering and regulating stations; and 158 MegaWatts defined conditions of installed PV solar capacity. The company was founded in 1903 and is based in Newark, New Jersey.
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 | $12.2B | $4.8B | $2.1B | $26M | 12.4% | 18.3% | 19.1% |
| 2024 | $10.3B | $4.0B | $1.8B | $-1.2B | 11.0% | -8.4% | -30.9% |
| 2023 | $11.2B | $5.1B | $2.6B | $481M | 19.1% | 14.7% | 148.6% |
| 2022 | $9.8B | $2.8B | $1.0B | $-1.4B | 7.5% | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 9,800 | 11,237 | 10,290 | 12,168 |
| Cost Of Revenue | - | 7,196 | 6,417 | 6,755 | 7,931 |
| Gross Profit | - | 2,604 | 4,820 | 3,535 | 4,237 |
| Operating Expense | - | 1,127 | 1,135 | 1,182 | 1,257 |
| Operating Income | - | 1,477 | 3,685 | 2,353 | 2,980 |
| EBITDA | - | 2,848 | 5,093 | 4,039 | 4,794 |
| EBIT | - | 1,565 | 3,769 | 2,666 | 3,335 |
| Pretax Income | - | 1,002 | 3,081 | 1,825 | 2,374 |
| Tax Provision | - | -29 | 518 | 53 | 263 |
| Net Income | - | 1,031 | 2,563 | 1,772 | 2,111 |
| Net Income Common Stockholders | - | 1,031 | 2,563 | 1,772 | 2,111 |
| Total Expenses | - | 8,323 | 7,552 | 7,937 | 9,188 |
| Interest Expense | - | 563 | 688 | 841 | 961 |
| Interest Income | - | 93 | 121 | 113 | 122 |
| Selling General And Administration | -328 | -376 | 218 | - | - |
| Normalized EBITDA | - | 3,236 | 4,904 | 3,912 | 4,605 |
| Normalized Income | - | 1,337.52 | 2,405.75 | 1,648.68 | 1,942.98 |
| Market Cap | 40,301.69 | 40,301.69 | 40,301.69 | 40,301.69 | 40,301.69 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Public Service Enterprise Group Incorporatedthis co. | PEG | $40.4B | 19.09↓ discount | 2.37 | 12.4% | 13.43 |
| Entergy Corporation | ETR | $50.6B | 29.34 | 3.07 | 10.5% | 13.19 |
| Exelon Corporation | EXC | $48.0B | 17.34 | 1.67 | 9.6% | 10.76 |
| Xcel Energy Inc. | XEL | $46.4B | 24.48 | 2.09 | 8.5% | 13.54 |
| Consolidated Edison, Inc. |
| - |
| 2021 | - | - | - | - | - | - | - |
| ED |
| $39.0B |
| 19.86 |
| 1.66 |
| 8.4% |
| 10.88 |
| PG&E Corporation | PCG | $38.0B | 13.53 | 1.18 | 8.7% | 9.64 |
| WEC Energy Group, Inc. | WEC | $36.9B | 23.95 | 2.74 | 11.4% | 14.73 |
| NRG Energy, Inc. | NRG | $33.8B | 39.28 | 32.92 | 83.8% | 13.98 |
| DTE Energy Company | DTE | $30.5B | 20.90 | 2.48 | 11.9% | 12.74 |
| Peer Median | - | 22.42 | 2.29 | 10.0% | 12.96 | |