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Side-by-side financial comparison of ENTERPRISE PRODUCTS PARTNERS L.P. (EPD) and PG&E Corporation (PCG). Click either name above to swap in a different company.
ENTERPRISE PRODUCTS PARTNERS L.P. is the larger business by last-quarter revenue ($14.4B vs $6.9B, roughly 2.1× PG&E Corporation). PG&E Corporation runs the higher net margin — 12.9% vs 10.4%, a 2.5% gap on every dollar of revenue. On growth, PG&E Corporation posted the faster year-over-year revenue change (15.0% vs -72.1%). Over the past eight quarters, PG&E Corporation's revenue compounded faster (7.2% CAGR vs 3.3%).
Enterprise Products Partners L.P. is an American midstream natural gas and crude oil pipeline company with headquarters in Houston, Texas. It acquired GulfTerra in September 2004. The company ranked No. 105 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. Dan Duncan was the majority owner until his death in 2010.
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
EPD vs PCG — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $14.4B | $6.9B |
| Net Profit | $1.5B | $885.0M |
| Gross Margin | — | — |
| Operating Margin | 13.2% | 21.4% |
| Net Margin | 10.4% | 12.9% |
| Revenue YoY | -72.1% | 15.0% |
| Net Profit YoY | 6.4% | 39.6% |
| EPS (diluted) | — | $0.39 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $14.4B | $6.9B | ||
| Q4 25 | $13.8B | $6.8B | ||
| Q3 25 | $12.0B | $6.3B | ||
| Q2 25 | $11.4B | $5.9B | ||
| Q1 25 | $15.4B | $6.0B | ||
| Q4 24 | $14.2B | $6.6B | ||
| Q3 24 | $13.8B | $5.9B | ||
| Q2 24 | $13.5B | $6.0B |
| Q1 26 | $1.5B | $885.0M | ||
| Q4 25 | $1.6B | $670.0M | ||
| Q3 25 | $1.3B | $850.0M | ||
| Q2 25 | $1.4B | $549.0M | ||
| Q1 25 | $1.4B | $634.0M | ||
| Q4 24 | $1.6B | $674.0M | ||
| Q3 24 | $1.4B | $579.0M | ||
| Q2 24 | $1.4B | $524.0M |
| Q1 26 | — | — | ||
| Q4 25 | 27.0% | — | ||
| Q3 25 | 28.6% | — | ||
| Q2 25 | 30.5% | — | ||
| Q1 25 | 22.1% | — | ||
| Q4 24 | 25.3% | — | ||
| Q3 24 | 24.6% | — | ||
| Q2 24 | 24.5% | — |
| Q1 26 | 13.2% | 21.4% | ||
| Q4 25 | 14.7% | 18.0% | ||
| Q3 25 | 14.0% | 19.3% | ||
| Q2 25 | 15.8% | 18.6% | ||
| Q1 25 | 11.4% | 20.4% | ||
| Q4 24 | 13.9% | 15.4% | ||
| Q3 24 | 12.9% | 17.3% | ||
| Q2 24 | 13.1% | 18.9% |
| Q1 26 | 10.4% | 12.9% | ||
| Q4 25 | 11.9% | 9.8% | ||
| Q3 25 | 11.1% | 13.6% | ||
| Q2 25 | 12.6% | 9.3% | ||
| Q1 25 | 9.0% | 10.6% | ||
| Q4 24 | 11.4% | 10.2% | ||
| Q3 24 | 10.3% | 9.7% | ||
| Q2 24 | 10.4% | 8.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | — | $0.29 | ||
| Q3 25 | — | $0.37 | ||
| Q2 25 | — | $0.24 | ||
| Q1 25 | — | $0.28 | ||
| Q4 24 | — | $0.30 | ||
| Q3 24 | — | $0.27 | ||
| Q2 24 | — | $0.24 |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | — |
| Free Cash FlowOCF − Capex | $1.9B | — |
| FCF MarginFCF / Revenue | 13.4% | — |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $2.0B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $2.1B | $1.1B | ||
| Q1 25 | $2.3B | $2.8B | ||
| Q4 24 | $2.4B | $1.9B | ||
| Q3 24 | $2.1B | $3.1B | ||
| Q2 24 | $1.6B | $711.0M |
| Q1 26 | $1.9B | — | ||
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-80.0M | ||
| Q2 25 | $762.0M | $-2.0B | ||
| Q1 25 | $1.3B | $213.0M | ||
| Q4 24 | $1.3B | $-896.0M | ||
| Q3 24 | $898.0M | $526.0M | ||
| Q2 24 | $310.0M | $-1.6B |
| Q1 26 | 13.4% | — | ||
| Q4 25 | — | -17.6% | ||
| Q3 25 | — | -1.3% | ||
| Q2 25 | 6.7% | -34.0% | ||
| Q1 25 | 8.1% | 3.6% | ||
| Q4 24 | 9.1% | -13.5% | ||
| Q3 24 | 6.5% | 8.9% | ||
| Q2 24 | 2.3% | -26.5% |
| Q1 26 | 1.4% | — | ||
| Q4 25 | — | 46.4% | ||
| Q3 25 | — | 46.9% | ||
| Q2 25 | 11.4% | 52.0% | ||
| Q1 25 | 6.9% | 44.0% | ||
| Q4 24 | 7.5% | 42.6% | ||
| Q3 24 | 8.5% | 43.8% | ||
| Q2 24 | 9.4% | 38.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.50× | 2.93× | ||
| Q3 25 | 1.30× | 3.35× | ||
| Q2 25 | 1.44× | 1.93× | ||
| Q1 25 | 1.66× | 4.49× | ||
| Q4 24 | 1.46× | 2.87× | ||
| Q3 24 | 1.46× | 5.41× | ||
| Q2 24 | 1.12× | 1.36× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EPD
Segment breakdown not available.
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
