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Side-by-side financial comparison of PG&E Corporation (PCG) and Principal Financial Group (PFG). Click either name above to swap in a different company.
PG&E Corporation is the larger business by last-quarter revenue ($6.9B vs $4.6B, roughly 1.5× Principal Financial Group). PG&E Corporation runs the higher net margin — 12.9% vs 11.3%, a 1.6% gap on every dollar of revenue. On growth, PG&E Corporation posted the faster year-over-year revenue change (15.0% vs -3.7%). Over the past eight quarters, PG&E Corporation's revenue compounded faster (7.2% CAGR vs 6.3%).
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.
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
PCG vs PFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.9B | $4.6B |
| Net Profit | $885.0M | $517.0M |
| Gross Margin | — | — |
| Operating Margin | 21.4% | — |
| Net Margin | 12.9% | 11.3% |
| Revenue YoY | 15.0% | -3.7% |
| Net Profit YoY | 39.6% | -42.9% |
| EPS (diluted) | $0.39 | $2.30 |
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 | $6.9B | — | ||
| Q4 25 | $6.8B | $4.6B | ||
| Q3 25 | $6.3B | $3.7B | ||
| Q2 25 | $5.9B | $3.7B | ||
| Q1 25 | $6.0B | $3.7B | ||
| Q4 24 | $6.6B | $4.8B | ||
| Q3 24 | $5.9B | $3.0B | ||
| Q2 24 | $6.0B | $4.3B |
| Q1 26 | $885.0M | — | ||
| Q4 25 | $670.0M | $517.0M | ||
| Q3 25 | $850.0M | $213.8M | ||
| Q2 25 | $549.0M | $406.2M | ||
| Q1 25 | $634.0M | $48.1M | ||
| Q4 24 | $674.0M | $905.4M | ||
| Q3 24 | $579.0M | $-220.0M | ||
| Q2 24 | $524.0M | $353.1M |
| Q1 26 | 21.4% | — | ||
| Q4 25 | 18.0% | — | ||
| Q3 25 | 19.3% | — | ||
| Q2 25 | 18.6% | — | ||
| Q1 25 | 20.4% | — | ||
| Q4 24 | 15.4% | — | ||
| Q3 24 | 17.3% | — | ||
| Q2 24 | 18.9% | — |
| Q1 26 | 12.9% | — | ||
| Q4 25 | 9.8% | 11.3% | ||
| Q3 25 | 13.6% | 5.8% | ||
| Q2 25 | 9.3% | 11.1% | ||
| Q1 25 | 10.6% | 1.3% | ||
| Q4 24 | 10.2% | 19.1% | ||
| Q3 24 | 9.7% | -7.3% | ||
| Q2 24 | 8.8% | 8.2% |
| Q1 26 | $0.39 | — | ||
| Q4 25 | $0.29 | $2.30 | ||
| Q3 25 | $0.37 | $0.95 | ||
| Q2 25 | $0.24 | $1.79 | ||
| Q1 25 | $0.28 | $0.21 | ||
| Q4 24 | $0.30 | $3.92 | ||
| Q3 24 | $0.27 | $-0.95 | ||
| Q2 24 | $0.24 | $1.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.4B |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | — | $11.9B |
| Total Assets | — | $341.4B |
| Debt / EquityLower = less leverage | — | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $713.0M | $4.4B | ||
| Q3 25 | $404.0M | $5.1B | ||
| Q2 25 | $494.0M | $3.7B | ||
| Q1 25 | $2.0B | $3.9B | ||
| Q4 24 | $940.0M | $4.2B | ||
| Q3 24 | $895.0M | $6.2B | ||
| Q2 24 | $1.3B | $4.8B |
| Q1 26 | — | — | ||
| Q4 25 | $57.4B | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $53.6B | $4.0B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | $3.9B |
| Q1 26 | — | — | ||
| Q4 25 | $32.5B | $11.9B | ||
| Q3 25 | $32.0B | $11.7B | ||
| Q2 25 | $31.2B | $11.4B | ||
| Q1 25 | $30.7B | $11.2B | ||
| Q4 24 | $30.1B | $11.1B | ||
| Q3 24 | $26.8B | $11.2B | ||
| Q2 24 | $26.3B | $11.0B |
| Q1 26 | — | — | ||
| Q4 25 | $141.6B | $341.4B | ||
| Q3 25 | $138.2B | $334.5B | ||
| Q2 25 | $136.4B | $323.1B | ||
| Q1 25 | $135.4B | $313.0B | ||
| Q4 24 | $133.7B | $313.7B | ||
| Q3 24 | $132.3B | $322.9B | ||
| Q2 24 | $130.8B | $308.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.76× | 0.33× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | 1.78× | 0.36× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.36× |
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 | — | $1.7B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.37× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $1.7B | ||
| Q3 25 | $2.9B | $1.0B | ||
| Q2 25 | $1.1B | $811.9M | ||
| Q1 25 | $2.8B | $977.3M | ||
| Q4 24 | $1.9B | $1.5B | ||
| Q3 24 | $3.1B | $1.1B | ||
| Q2 24 | $711.0M | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $-1.2B | — | ||
| Q3 25 | $-80.0M | — | ||
| Q2 25 | $-2.0B | — | ||
| Q1 25 | $213.0M | — | ||
| Q4 24 | $-896.0M | — | ||
| Q3 24 | $526.0M | — | ||
| Q2 24 | $-1.6B | — |
| Q1 26 | — | — | ||
| Q4 25 | -17.6% | — | ||
| Q3 25 | -1.3% | — | ||
| Q2 25 | -34.0% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | -13.5% | — | ||
| Q3 24 | 8.9% | — | ||
| Q2 24 | -26.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 46.4% | — | ||
| Q3 25 | 46.9% | — | ||
| Q2 25 | 52.0% | — | ||
| Q1 25 | 44.0% | — | ||
| Q4 24 | 42.6% | — | ||
| Q3 24 | 43.8% | — | ||
| Q2 24 | 38.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.93× | 3.37× | ||
| Q3 25 | 3.35× | 4.70× | ||
| Q2 25 | 1.93× | 2.00× | ||
| Q1 25 | 4.49× | 20.32× | ||
| Q4 24 | 2.87× | 1.61× | ||
| Q3 24 | 5.41× | — | ||
| Q2 24 | 1.36× | 4.05× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
