PSE Balance Sheet - Public Service Enterprise Group Inc

Watchlist Manager

Watchlist

Price: 66.58 EUR 2.75%

Market Cap: €33.2B

Financial profile · Q3 FY2026

A regulated utility model where network investment absorbs much of operating cash

PSEG combines rate-regulated electric and gas operations with nuclear generation, producing a durable earnings base alongside exposure to generation-related and accounting volatility. Its multi-year results show a capital-intensive model in which investment often consumes most operating cash, leaving free cash flow around breakeven or negative.

What the latest results confirm

The latest trailing cash results remained consistent with that profile: operating cash flow was close to capital spending, leaving free cash flow slightly negative and similar to the prior-year trailing period. The quarter-to-quarter movement does not by itself indicate a change in the underlying model.

What matters next

Whether operating cash flow keeps pace with the regulated network investment program over subsequent reporting periods.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	423m	313m	177m	147m	543m	818m	465m	54m	125m	132m
Cash Equivalents	423m	313m	177m	147m	543m	818m	465m	54m	125m	132m
Total Receivables	1.2B	1.5B	1.7B	1.3B	1.5B	1.9B	2B	1.5B	2B	2.3B
Accounts Receivables	1.2B	1.3B	1.4B	1.3B	1.4B	1.9B	1.9B	1.5B	1.6B	1.9B
Other Receivables	78m	127m	242m	21m	63m	9m	79m	10m	394m	406m
Inventory	887m	866m	902m	897m	878m	744m	960m	1B	1.1B	1.2B
Other Current Assets	705m	658m	751m	853m	736m	2.8B	855m	804m	995m	1B
Total Current Assets	3.3B	3.3B	3.5B	3.2B	3.6B	6.3B	4.3B	3.4B	4.2B	4.6B
PP&E Net	29.3B	31.8B	34.4B	36.1B	37.8B	34.6B	36.1B	38.2B	40.2B	42.2B
PP&E Gross	29.3B	31.8B	34.4B	36.1B	37.8B	34.6B	36.1B	38.2B	40.2B	42.2B
Accumulated Depreciation	(10.1B)	(9.4B)	(9.8B)	(10.1B)	(11B)	(9.3B)	(10B)	(10.6B)	(11.1B)	(11.9B)
Intangible Assets	98m	114m	143m	149m	158m	20m	14m	—	—	—
Goodwill	16m	16m	16m	0	—	—	—	—	—	—
Note Receivable	693m	686m	624m	963m	945m	875m	556m	632m	558m	520m
Long-Term Investments	1.1B	932m	896m	812m	536m	541m	624m	295m	263m	372m
Other Long-Term Assets	5.7B	5.9B	5.8B	6.4B	6.9B	6.7B	7.1B	8.2B	9.4B	9.9B
Other Assets	16m	16m	16m	0	—	—	—	—	—	—
Total Assets	40.1B	42.7B	45.3B	47.7B	50.1B	49B	48.7B	50.7B	54.6B	57.6B
Accounts Payable	1.5B	1.7B	1.5B	1.4B	1.3B	1.3B	1.3B	1.2B	1.1B	1.5B
Accrued Liabilities	128m	151m	136m	190m	284m	221m	174m	220m	273m	402m
Short-Term Debt	388m	542m	1B	1.1B	1.1B	3.5B	2.2B	949m	1.6B	1.5B
Current Portion of Long-Term Debt	500m	1B	1.3B	1.4B	1.7B	700m	1.6B	1.5B	2.2B	875m
Other Current Liabilities	801m	781m	1B	1B	1.2B	1.3B	1.5B	1.2B	1.4B	1.4B
Total Current Liabilities	3.3B	4.2B	4.9B	5B	5.5B	7.1B	6.7B	5.1B	6.5B	5.7B
Long-Term Debt	10.9B	12.1B	13.2B	13.7B	14.5B	15.2B	16.5B	17.8B	19B	21.7B
Deferred Income Tax	8.7B	5.2B	5.7B	6.3B	6.5B	5.8B	5.7B	6.7B	7.2B	7.9B
Minority Interest	0	—	—	—	—	—	—	—	—	—
Other Liabilities	4.1B	7.4B	7.1B	7.6B	7.5B	6.5B	6.1B	5.8B	5.8B	5.3B
Total Liabilities	26.9B	28.9B	30.9B	32.6B	34.1B	34.6B	35B	35.3B	38.5B	40.6B
Common Stock	4.9B	5B	5B	5B	5B	5B	5.1B	5B	5.1B	5.1B
Retained Earnings	9.2B	9.9B	10.6B	11.4B	12.3B	10.6B	10.6B	12B	12.6B	13.4B
Unrealized Security Profit/Loss	—	177m	(16m)	25m	50m	11m	(121m)	(80m)	(93m)	(59m)
Treasury Stock	(717m)	(763m)	(808m)	(831m)	(861m)	(896m)	(1.4B)	(1.4B)	(1.4B)	(1.4B)
Other Equity	(263m)	(406m)	(361m)	(514m)	(554m)	(361m)	(429m)	(99m)	(40m)	(32m)
Total Equity	13.1B	13.8B	14.4B	15.1B	16B	14.4B	13.7B	15.5B	16.1B	17B
Total Liabilities & Equity	40.1B	42.7B	45.3B	47.7B	50.1B	49B	48.7B	50.7B	54.6B	57.6B
Common Shares Outstanding	505m	505m	504m	504m	504m	504m	497m	498m	498m	498m