Loading institutional data...
Loading institutional data...
Held by 367 of 2,417 reporting institutions (97th percentile) — extremely crowded.
Data as of Q3 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading analysis...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading insider activity...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 5%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
The dividend exceeds free cash flow (4838%) — funded from the balance sheet or debt, a red flag if it persists. Last year: $1.26B dividends + $0 buybacks = $1.26B returned on $26.0M FCF.
9 consecutive years of dividend increases · 5%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.17B 100.0% | $10.29B 100.0% | $11.24B 100.0% | $9.80B 100.0% | $9.72B 100.0% | $9.60B 100.0% | $10.08B 100.0% | $9.70B 100.0% | $9.09B 100.0% | $8.97B 100.0% |
| Cost of Revenue | — | — | — | — | — | $3.06B 31.8% | $3.37B 33.5% | $3.23B 33.3% | $2.78B 30.5% | $2.90B 32.4% |
| Total Operating Expenses | $9.19B 75.5% | $7.94B 77.1% | $7.55B 67.2% | $8.42B 85.9% | $10.58B 108.8% | $7.33B 76.4% | $8.13B 80.7% | $7.40B 76.3% | $7.67B 84.3% | $7.37B 82.2% |
| Operating Income | $2.98B 24.5% | $2.35B 22.9% | $3.69B 32.8% | $1.38B 14.1% | -$856.0M -8.8% | $2.27B 23.6% | $1.94B 19.3% | $2.30B 23.7% | $1.43B 15.7% | $1.60B 17.8% |
| Interest Expense | $1.00B 8.3% | $882.0M 8.6% | $748.0M 6.7% | $628.0M 6.4% | $571.0M 5.9% | $600.0M 6.2% | $569.0M 5.6% | $476.0M 4.9% | $391.0M 4.3% | $385.0M 4.3% |
| Interest & Investment Income | $32.0M 0.3% | $32.0M 0.3% | $53.0M 0.5% | $31.0M 0.3% | $20.0M 0.2% | $25.0M 0.3% | $26.0M 0.3% | $29.0M 0.3% | $30.0M 0.3% | $30.0M 0.3% |
| Other Income (Expense), net | $145.0M 1.2% | $154.0M 1.5% | $173.0M 1.5% | $124.0M 1.3% | $98.0M 1.0% | $115.0M 1.2% | $125.0M 1.2% | $85.0M 0.9% | $82.0M 0.9% | $102.0M 1.1% |
| Pretax Income | $2.37B 19.5% | $1.82B 17.7% | $3.08B 27.4% | $1.00B 10.2% | -$1.09B -11.2% | $2.30B 24.0% | $1.95B 19.4% | $1.85B 19.1% | $1.27B 13.9% | $1.30B 14.5% |
| Income Tax Expense | $263.0M 2.2% | $53.0M 0.5% | $518.0M 4.6% | -$29.0M -0.3% | -$441.0M -4.5% | $396.0M 4.1% | $257.0M 2.6% | $417.0M 4.3% | -$306.0M -3.4% | $411.0M 4.6% |
| Net Income | $2.11B 17.3% | $1.77B 17.2% | $2.56B 22.8% | $1.03B 10.5% | -$648.0M -6.7% | $1.91B 19.8% | $1.69B 16.8% | $1.44B 14.8% | $1.57B 17.3% | $887.0M 9.9% |
| Per Share | ||||||||||
| EPS (Basic) | $4.23 | $3.56 | $5.15 | $2.07 | -$1.29 | $3.78 | $3.35 | $2.85 | $3.12 | $1.76 |
| EPS (Diluted) | $4.22 | $3.54 | $5.13 | $2.06 | -$1.29 | $3.76 | $3.33 | $2.83 | $3.10 | $1.75 |
| Weighted Avg Shares (Basic) | 499.0M | 498.0M | 498.0M | 498.0M | 504.0M | 504.0M | 504.0M | 504.0M | 505.0M | 505.0M |
| Weighted Avg Shares (Diluted) | 501.0M | 500.0M | 500.0M | 501.0M | 504.0M | 507.0M | 507.0M | 507.0M | 507.0M | 508.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $132.0M is below the $875.0M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.5% on $22.55B of debt.
Cash of $132.0M is below short-term debt of $875.0M — relies on refinancing/operations.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Ranked against 14 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DUK | $98.2B | 19.9× | 11.1× | 3.1× | 5.6% | — | 15.7% | 9.6% | 3.7% | 5.0× | 841 |
| EXC | $47.3B | — | 11.6× | 1.9× | 5.3% | — | 11.4% | 9.6% | 3.6% | 5.8× | 374 |
| ED | $42.7B | 20.5× | — | 2.5× | 10.9% | — | 12.0% | 8.4% | 4.0% | — | 428 |
| PCG | $39.7B | 11.2× | — | 1.6× | 2.1% | — | 10.8% | 8.3% | 2.9% | — | 198 |
| WEC | $37.4B | 23.8× | 15.5× | 3.8× | 14.0% | 66.7% | 15.9% | 11.1% | 4.5% | 5.5× | 402 |
| PEG | $36.7B | 17.4× | — | 3.0× | 18.3% | — | 17.3% | 12.4% | 5.3% | — | 367 |
| AEE | $30.5B | 20.6× | — | 3.5× | 15.4% | — | 16.6% | 10.9% | 4.5% | — | 234 |
| CMS | $21.8B | 19.7× | 13.2× | 2.5× | 13.6% | — | 12.5% | 11.7% | 3.8% | 6.0× | 215 |
| NI | $21.5B | 22.9× | 7.4× | 3.3× | 23.5% | — | 14.3% | 9.8% | 9.1% | 0.2× | 208 |
| EVRG | $19.7B | 23.3× | 13.3× | 3.3× | 2.0% | — | 14.4% | 8.4% | 3.6% | 5.4× | 258 |
| LNT | $18.3B | 22.5× | 15.9× | 4.2× | 9.6% | 85.7% | 18.6% | 11.0% | 4.2% | 6.1× | 225 |
| NWE | $4.9B | 26.9× | 14.2× | 3.0× | 6.4% | — | 11.2% | 6.3% | 2.9% | 5.8× | 73 |
| AVA | $3.1B | 15.7× | 5.5× | 1.6× | 1.3% | — | 9.8% | 7.1% | 6.2% | 0.6× | 80 |
| UTL | $1.0B | 18.5× | — | 1.9× | 8.3% | — | 9.4% | 8.2% | 3.4% | — | 48 |
| GNE | $431M | 18.2× | 8.2× | 0.9× | 18.1% | 24.8% | 4.8% | 9.6% | 9.2% | -6.8× | 15 |
Peers = companies sharing PEG's sector (Electric & Other Services Combined) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 2 positive fiscal years (FY2023, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $74.29 today, the market must believe free cash flow compounds 37.2%/yr for a decade (off $253.5M on the 3-yr avg basis).
On the basis ($223.0M) the requirement is 39.0%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 37.2% is more optimistic than its 6-yr track record.
Default is 8.3% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.50B shares (market data) · net debt $22.41B
mean -341.5% · volatility σ 317% · implied rate exceeded in 0/3 yrs
Central path = implied 37.2%/yr growth; shaded band = ±1σ (317%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 80th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 12% against ROIC 5% — 7% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 1.5× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 33.3 | 33.5 | 31.8 | — | — | — | — | — |
| Operating Income | 23.7 | 19.3 | 23.6 | -8.8 | 14.1 | 32.8 | 22.9 | 24.5 |
| Income Tax | 4.3 | 2.6 | 4.1 | -4.5 | -0.3 | 4.6 | 0.5 | 2.2 |
| Net Income | 14.8 | 16.8 | 19.8 | -6.7 | 10.5 | 22.8 | 17.2 | 17.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on PEG: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -1.6pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 5.7% | 8.3% (today's — no rate published for this year) | -2.6pts |
| FY2020 | 6.3% | 8.3% (today's — no rate published for this year) | -1.9pts |
| FY2021 | -2.6% | 7.9% | -10.4pts |
| FY2022 | 3.9% | 8.0% | -4.1pts |
| FY2023 | 9.5% | 6.9% | 2.5pts |
| FY2024 | 5.7% | 8.3% | -2.6pts |
| FY2025 | 6.7% | 7.6% | -0.8pts |
| Now | 5.3% | 8.3% | -2.9pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 67.6% | 17.8% | 9.9% |
| FY2017 | 69.5% | 15.7% | 17.3% |
| FY2018 | 66.7% | 23.7% | 14.8% |
| FY2019 | 66.5% | 19.3% | 16.8% |
| FY2020 | 68.2% | 23.6% | 19.8% |
| FY2021 | not reported | -8.8% | -6.7% |
| FY2022 | not reported | 14.1% | 10.5% |
| FY2023 | not reported | 32.8% | 22.8% |
| FY2024 | not reported | 22.9% | 17.2% |
| FY2025 | not reported | 24.5% | 17.3% |
Leverage and buybacks account for 7 points of the 12% return on equity in FY2025. The business earns 5% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
The spread is -1.6pts and would invert under a ±2% move in WACC, so the verdict rests on the cost-of-capital assumption rather than on the business.
Free cash flow has fallen short of reported profit in 3 of the last three years.
Reported free cash flow is $26M; after share-based compensation it is -$17M. The difference is a real cost that the cash flow statement adds back.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: ebitda.
At $73.63, free cash flow must compound 37.12%/yr for 10 years. It has done -29.57%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | −16.0% | 37.1% |
| FY2021 | −649.2% | 37.1% |
| FY2024 | −359.3% | 37.1% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM (share count from the last fiscal year — the TTM window reports none).
The implied rate of 37.12% has not been achieved in any of the last 3 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $2.11B | $2.11B |
| Share-based comp | $43M | $2.15B |
| Other non-cash & working capital | $1.14B | $3.30B |
| Operating cash flow | $3.30B | $3.30B |
| Capex | −$3.27B | $26M |
| Free cash flow | $26M | $26M |
| FCF after SBC | −$17M | −$17M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -4.7% | 7.4% | 12.1 points |
| FY2021 | 1.2% | 31.8% | 30.6 points |
| FY2022 | 0.8% | 4.6% | 3.8 points |
| FY2023 | 14.7% | -23.8% | -38.4 points |
| FY2024 | -8.4% | 7.8% | 16.2 points |
| FY2025 | 18.3% | 18.2% | -0.0 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 47.6 days | not reported | 147 days | -99.4 days |
| FY2020 | 53.6 days | not reported | 159.1 days | -105.5 days |
| FY2021 | 69.8 days | not reported | not reported | not reported |
| FY2022 | 72.4 days | not reported | not reported | not reported |
| FY2023 | 48.1 days | not reported | not reported | not reported |
| FY2024 | 56.6 days | not reported | not reported | not reported |
| FY2025 | 56.6 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -3.5 percent |
| FY2020 | -2.4 percent |
| FY2021 | -4.9 percent |
| FY2022 | -1.0 percent |
| FY2023 | -2.5 percent |
| FY2024 | -0.7 percent |
| FY2025 | -2.1 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-16 | Rostiac Sheila J SVP CAO & CHRO | Tax withholding | 180 | $71.49 | $13k |
| 2026-10-16 | Thigpen Richard T SVP Corporate Citizenship | Tax withholding | 98 | $71.49 | $7k |
| 2026-10-16 | Mcfeaters Charles V President & CNO - PSEG Nuclear | Tax withholding | 210 | $71.49 | $15k |
| 2026-10-16 | Larossa Ralph A Chair, President and CEO | Tax withholding | 1,639 | $71.49 | $117k |
| 2026-10-16 | Hanemann Kim C President and COO - PSE&G | Tax withholding | 344 | $71.49 | $25k |
| 2026-10-16 | Cregg Daniel J Executive VP & CFO | Tax withholding | 459 | $71.49 | $33k |
| 2026-10-16 | Chernick Rose M Vice President and Controller | Tax withholding | 109 | $71.49 | $8k |
| 2026-10-01 | Larossa Ralph A Chair, President and CEO | 10b5-1 plan sale | 2,083 | $67.48 | $141k |
| 2026-09-16 | Park Grace H EVP and General Counsel | Tax withholding | 136 | $70.54 | $10k |
| 2026-09-01 | Larossa Ralph A Chair, President and CEO | 10b5-1 plan sale | 2,083 | $73.46 | $153k |
| 2026-08-11 | Thigpen Richard T SVP Corporate Citizenship | Open-market sale | 8,000 | $74.56 | $596k |
| 2026-08-03 | Larossa Ralph A Chair, President and CEO | 10b5-1 plan sale | 2,083 | $76.47 | $159k |
| 2026-07-01 | Larossa Ralph A Chair, President and CEO | 10b5-1 plan sale | 2,083 | $80.51 | $168k |
| 2026-06-24 | Hanemann Kim C President and COO - PSE&G | 10b5-1 plan sale | 3,035 | $82.00 | $249k |
| 2026-06-01 | Larossa Ralph A Chair, President and CEO | 10b5-1 plan sale | 2,083 | $77.01 | $160k |
| 2026-05-01 | Williams Geisha J Director | Grant | 2,246 | $80.15 | — |
| 2026-05-01 | Tomasky Susan Director | Grant | 2,246 | $80.15 | — |
| 2026-05-01 | Tanji Kenneth Director | Grant | 2,246 | $80.15 | — |
| 2026-05-01 | Surma John P Director | Grant | 2,246 | $80.15 | — |
| 2026-05-01 | Sugg Laura A Director | Grant | 2,246 | $80.15 | — |
| 2026-05-01 | Stephenson Scott G Director | Grant | 2,246 | $80.15 | $180k |
| 2026-05-01 | Smith Valerie Ann Director | Grant | 2,246 | $80.15 | — |
| 2026-05-01 | Perez Ricardo G Director | Grant | 2,246 | $80.15 | — |
| 2026-05-01 | Gentoso Jamie M Director | Grant | 2,246 | $80.15 | — |
| 2026-05-01 | Deese Willie A Director | Grant | 2,246 | $80.15 | $180k |
| 2026-05-01 | Larossa Ralph A Chair, President and CEO | 10b5-1 plan sale | 2,083 | $81.21 | $169k |
| 2026-04-01 | Larossa Ralph A Chair, President and CEO | 10b5-1 plan sale | 2,083 | $81.24 | $169k |
| 2026-03-09 | Hanemann Kim C President and COO - PSE&G | Open-market saleindirect | 9 | $84.04 | $738 |
| 2026-03-05 | Larossa Ralph A Chair, President and CEO | 10b5-1 plan sale | 2,083 | $83.66 | $174k |
| 2026-03-03 | Thigpen Richard T SVP Corporate Citizenship | Open-market sale | 4,700 | $83.00 | $390k |
| 2026-02-24 | 3 co-filers SVP CAO & CHRO | Grant | 12,973 | $85.73 | $1.1m |
| 2026-02-24 | 3 co-filers SVP Corporate Citizenship | Grant | 10,193 | $85.73 | $874k |
| 2026-02-24 | 3 co-filers EVP and General Counsel | Grant | 6,262 | $86.24 | $540k |
| 2026-02-24 | 5 co-filers President & CNO - PSEG Nuclear | Grant | 10,193 | $85.73 | $874k |
| 2026-02-24 | 3 co-filers Chair, President and CEO | Grant | 148,242 | $85.73 | $12.7m |
| 2026-02-24 | 3 co-filers President and COO - PSE&G | Grant | 25,944 | $85.73 | $2.2m |
| 2026-02-24 | 3 co-filers Executive VP & CFO | Grant | 36,135 | $85.73 | $3.1m |
| 2026-02-24 | 3 co-filers Vice President and Controller | Grant | 5,163 | $85.73 | $443k |
| 2026-02-24 | 3 co-filers EVP and General Counsel | Grant | 3,972 | $85.73 | $340k |
| 2026-02-24 | 5 co-filers President & CNO - PSEG Nuclear | Grant | 8,121 | $85.73 | $696k |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.