PEGPUBLIC SERVICE ENTERPRISE GROUP INC

Electric & Other Services Combined

Revenue: $12.1B; 23% YoY
Operating margin: 24.6%; 3.2% YoY
EBITDA: $3.0B; 27% YoY
Market cap: $37.0B
Employees: 2,025; $6M revenue each
Net debt / EBITDA: 7.9×; $23.4B net debt
AI in 10-K: 1.5; mentions per 10K words

Takeover score 0 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
156% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
38% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
0% of assets
Over 40% of assets
Shareholder dissentNo
94% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$6M · 84th pct
Bottom quartile of its SIC industry
Quiet on AINo
1.5 per 10K words · 45th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
7.9× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$37.0B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$3M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$10.3B	$11.2B	$9.3B	$9.9B	$12.1B	23%
Operating income	−$856M	$1.4B	$3.7B	$2.4B	$3.0B	27%
Net income	−$648M	$1.0B	$2.6B	$1.8B	$2.1B	19%
Operating cash flow	$1.7B	$1.5B	$3.8B	$2.1B	$3.3B	55%
Capex	$2.7B	$2.9B	$3.3B	$3.4B	$3.3B	3.2%
Stock-based comp	$28M	$29M	$18M	$40M	$43M	7.5%
Buybacks	$0	$500M	$0	$0	—
Dividends	$1.0B	$1.1B	$1.1B	$1.2B	$1.3B	5.2%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $3M · 13
Net: −$3M

Pay vs performance

No pay-versus-performance disclosure yet.