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Side-by-side financial comparison of PG&E Corporation (PCG) and Union Pacific Corporation (UNP). Click either name above to swap in a different company.
PG&E Corporation is the larger business by last-quarter revenue ($6.9B vs $6.2B, roughly 1.1× Union Pacific Corporation). Union Pacific Corporation runs the higher net margin — 27.4% vs 12.9%, a 14.5% gap on every dollar of revenue. On growth, PG&E Corporation posted the faster year-over-year revenue change (15.0% vs 3.2%). Over the past eight quarters, PG&E Corporation's revenue compounded faster (7.2% CAGR vs 1.7%).
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.
The Union Pacific Railroad Company is a Class I freight-hauling railroad that operates 8,300 locomotives over 32,200 miles (51,800 km) routes in 23 U.S. states west of Chicago and New Orleans. Union Pacific is the second-largest railroad in the United States after BNSF.
PCG vs UNP — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $6.9B | $6.2B |
| Net Profit | $885.0M | $1.7B |
| Gross Margin | — | — |
| Operating Margin | 21.4% | 39.5% |
| Net Margin | 12.9% | 27.4% |
| Revenue YoY | 15.0% | 3.2% |
| Net Profit YoY | 39.6% | 4.6% |
| EPS (diluted) | $0.39 | $2.87 |
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 | $6.2B | ||
| Q4 25 | $6.8B | $6.1B | ||
| Q3 25 | $6.3B | $6.2B | ||
| Q2 25 | $5.9B | $6.2B | ||
| Q1 25 | $6.0B | $6.0B | ||
| Q4 24 | $6.6B | $6.1B | ||
| Q3 24 | $5.9B | $6.1B | ||
| Q2 24 | $6.0B | $6.0B |
| Q1 26 | $885.0M | $1.7B | ||
| Q4 25 | $670.0M | $1.8B | ||
| Q3 25 | $850.0M | $1.8B | ||
| Q2 25 | $549.0M | $1.9B | ||
| Q1 25 | $634.0M | $1.6B | ||
| Q4 24 | $674.0M | $1.8B | ||
| Q3 24 | $579.0M | $1.7B | ||
| Q2 24 | $524.0M | $1.7B |
| Q1 26 | 21.4% | 39.5% | ||
| Q4 25 | 18.0% | 39.5% | ||
| Q3 25 | 19.3% | 40.8% | ||
| Q2 25 | 18.6% | 41.0% | ||
| Q1 25 | 20.4% | 39.3% | ||
| Q4 24 | 15.4% | 41.3% | ||
| Q3 24 | 17.3% | 39.7% | ||
| Q2 24 | 18.9% | 40.0% |
| Q1 26 | 12.9% | 27.4% | ||
| Q4 25 | 9.8% | 30.4% | ||
| Q3 25 | 13.6% | 28.6% | ||
| Q2 25 | 9.3% | 30.5% | ||
| Q1 25 | 10.6% | 27.0% | ||
| Q4 24 | 10.2% | 28.8% | ||
| Q3 24 | 9.7% | 27.4% | ||
| Q2 24 | 8.8% | 27.9% |
| Q1 26 | $0.39 | $2.87 | ||
| Q4 25 | $0.29 | $3.12 | ||
| Q3 25 | $0.37 | $3.01 | ||
| Q2 25 | $0.24 | $3.15 | ||
| Q1 25 | $0.28 | $2.70 | ||
| Q4 24 | $0.30 | $2.91 | ||
| Q3 24 | $0.27 | $2.75 | ||
| Q2 24 | $0.24 | $2.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $735.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | — |
| Total Assets | — | $69.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $735.0M | ||
| Q4 25 | $713.0M | $1.3B | ||
| Q3 25 | $404.0M | $808.0M | ||
| Q2 25 | $494.0M | $1.1B | ||
| Q1 25 | $2.0B | $1.4B | ||
| Q4 24 | $940.0M | $1.0B | ||
| Q3 24 | $895.0M | $947.0M | ||
| Q2 24 | $1.3B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $57.4B | $30.3B | ||
| Q3 25 | — | $30.3B | ||
| Q2 25 | — | $30.3B | ||
| Q1 25 | — | $30.6B | ||
| Q4 24 | $53.6B | $29.8B | ||
| Q3 24 | — | $29.8B | ||
| Q2 24 | — | $31.2B |
| Q1 26 | — | — | ||
| Q4 25 | $32.5B | $18.5B | ||
| Q3 25 | $32.0B | $17.3B | ||
| Q2 25 | $31.2B | $16.3B | ||
| Q1 25 | $30.7B | $16.0B | ||
| Q4 24 | $30.1B | $16.9B | ||
| Q3 24 | $26.8B | $16.6B | ||
| Q2 24 | $26.3B | $16.5B |
| Q1 26 | — | $69.6B | ||
| Q4 25 | $141.6B | $69.7B | ||
| Q3 25 | $138.2B | $68.6B | ||
| Q2 25 | $136.4B | $68.6B | ||
| Q1 25 | $135.4B | $68.5B | ||
| Q4 24 | $133.7B | $67.7B | ||
| Q3 24 | $132.3B | $67.6B | ||
| Q2 24 | $130.8B | $67.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.76× | 1.64× | ||
| Q3 25 | — | 1.75× | ||
| Q2 25 | — | 1.86× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | 1.78× | 1.76× | ||
| Q3 24 | — | 1.79× | ||
| Q2 24 | — | 1.89× |
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 | — | $631.0M |
| FCF MarginFCF / Revenue | — | 10.1% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $2.2B | ||
| Q3 25 | $2.9B | $2.5B | ||
| Q2 25 | $1.1B | $2.3B | ||
| Q1 25 | $2.8B | $2.2B | ||
| Q4 24 | $1.9B | $2.7B | ||
| Q3 24 | $3.1B | $2.7B | ||
| Q2 24 | $711.0M | $1.9B |
| Q1 26 | — | $631.0M | ||
| Q4 25 | $-1.2B | $1.2B | ||
| Q3 25 | $-80.0M | $1.6B | ||
| Q2 25 | $-2.0B | $1.4B | ||
| Q1 25 | $213.0M | $1.3B | ||
| Q4 24 | $-896.0M | $1.7B | ||
| Q3 24 | $526.0M | $1.8B | ||
| Q2 24 | $-1.6B | $1.0B |
| Q1 26 | — | 10.1% | ||
| Q4 25 | -17.6% | 20.1% | ||
| Q3 25 | -1.3% | 25.2% | ||
| Q2 25 | -34.0% | 22.7% | ||
| Q1 25 | 3.6% | 21.6% | ||
| Q4 24 | -13.5% | 28.4% | ||
| Q3 24 | 8.9% | 29.9% | ||
| Q2 24 | -26.5% | 16.8% |
| Q1 26 | — | — | ||
| Q4 25 | 46.4% | 16.4% | ||
| Q3 25 | 46.9% | 15.2% | ||
| Q2 25 | 52.0% | 15.2% | ||
| Q1 25 | 44.0% | 15.0% | ||
| Q4 24 | 42.6% | 15.1% | ||
| Q3 24 | 43.8% | 13.6% | ||
| Q2 24 | 38.4% | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.93× | 1.20× | ||
| Q3 25 | 3.35× | 1.41× | ||
| Q2 25 | 1.93× | 1.24× | ||
| Q1 25 | 4.49× | 1.36× | ||
| Q4 24 | 2.87× | 1.51× | ||
| Q3 24 | 5.41× | 1.59× | ||
| Q2 24 | 1.36× | 1.14× |
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% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
