Portland General Electric Co

Portland General Electric maintains a capital structure characterized by significant leverage, with total liabilities of $9.10 billion against total equity of $4.13 billion. The debt-to-equity ratio stands at 1.13, reflecting a standard utility financing profile where long-term debt of $4.66 billion supports asset-heavy operations. Liquidity is assessed as medium risk, with a key flag noting that net cash is negative after subtracting total debt. Operating cash flow of $1.12 billion covers capital expenditures of $1.19 billion, indicating that current operations are nearly self-funding for maintenance and growth capex, though requiring external financing for the shortfall.

Profitability metrics show a return on equity of 7.4% and a return on assets of 2.31%. The company generated $3.58 billion in revenue, resulting in an operating income of $555 million and net income of $306 million. While specific cohort medians are not provided for direct comparison, these returns are consistent with regulated utility economics, where returns are capped by regulatory frameworks rather than driven by competitive market expansion. The operating margin of approximately 15.5% suggests stable cost control within the regulated environment.

Revenue concentration is inherent to the utility model, with the company serving a defined geographic franchise. The financial snapshot does not provide a detailed segment breakdown, but the activity is classified strictly as Electric Utilities, implying a single-segment operational focus on power generation and distribution. The absence of diversified revenue streams means the company's financial performance is directly tied to the regulatory approval of rates and the volume of electricity consumed in its service area.

Growth trajectory is indicated by the scale of capital expenditures, which at $1.19 billion, represents a significant reinvestment rate relative to the $3.58 billion revenue base. This level of capex suggests ongoing infrastructure upgrades or expansion, typical for utilities modernizing grids or integrating renewable sources. Without historical period data, the year-over-year growth rate cannot be quantified, but the sustained high capex implies a commitment to long-term asset base growth.

Risk factors include medium liquidity risk and low dilution risk. The negative net cash position highlights reliance on debt markets for liquidity management. The low dilution risk is supported by the fact that basic and diluted shares outstanding are identical at 115.6 million, indicating no significant in-the-money options or convertible securities currently impacting share count. The primary financial risk remains the ability to service $4.66 billion in long-term debt amidst potential interest rate fluctuations.

Recent observations include analyst estimates with a mean price target of $52.30 and a median of $52.50, with a mean recommendation of 2.92, indicating a neutral to slightly positive sentiment. The analyst consensus is split between strong buys and holds, with no pure "buy" ratings, suggesting cautious optimism. No specific news events or filing observations were provided beyond system triggers, limiting the ability to assess recent operational developments or regulatory changes.

Portland General Electric Co (POR.O) has been formally classified within the Utilities economic sector and Electric Utilities activity, establishing a clear operational taxonomy for the company. This structural definition provides a foundational context for analyzing the firm's market position and regulatory environment, anchoring subsequent risk and performance assessments in its core utility business model. The company's risk profile has been updated to reflect a low dilution risk, indicating that existing shareholders face minimal threat of equity value erosion from new share issuance. This assessment suggests a stable capital structure regarding equity expansion, which is a positive signal for long-term holders concerned about ownership concentration. Conversely, the risk assessment identifies a medium liquidity risk, highlighting potential constraints or volatility in the company's ability to meet short-term financial obligations. This classification serves as a critical counterbalance to the low dilution risk, signaling that while equity stability is maintained, management must navigate moderate challenges in maintaining immediate cash flow flexibility. These updates occur within a broader landscape where the company is tracked by 32 top holders, though current data shows no active analyst coverage or index membership. The absence of analyst estimates and index inclusion suggests that POR.O may be viewed as a niche or less liquid holding, making the newly defined risk metrics particularly relevant for the existing investor base in evaluating the stock's stability and sector alignment.

Revenue grew at a 10.0% CAGR from 2022 to 2026, demonstrating strong top-line expansion over the four-year period.

Cash conversion ratio of 3.65 ranks above the 75th percentile of the cohort, highlighting robust cash generation capabilities.

Analyst consensus implies 0.5% upside to the mean price target of $52.30, suggesting fair valuation with limited downside risk.

Free cash flow deteriorated significantly to -$851 million in 2024, driven by heavy capital expenditures exceeding operating cash generation.

Debt-to-equity ratio of 1.13 is well above the cohort median of 0.76, indicating higher financial leverage and potential credit risk.

The company faces a high credit risk flag, signaling potential concerns regarding its ability to meet financial obligations.

Net income declined 2.2% year-over-year to $306 million in 2026, showing earnings contraction despite revenue growth.

Interest coverage ratio of 2.39 suggests limited buffer for servicing debt, exposing the firm to rising interest rate environments.

Revenue $863.0M, −7,4% YoY; Operating income −36,3% YoY.

• ▍Revenue $863.0M, −7,4% YoY
• ▍Operating income −36,3% YoY
• ▍Net income −55,0% YoY
• ▍Free cash flow +25,3% YoY
• ▍Net margin 5.2%

Revenue $879.0M, +5,0% YoY; Operating income +3,4% YoY.

• ▍Revenue $879.0M, +5,0% YoY
• ▍Operating income +3,4% YoY
• ▍Net income +7,9% YoY
• ▍Free cash flow +44,1% YoY
• ▍Net margin 4.7%

Revenue $946.0M, +0,4% YoY; Operating income +19,2% YoY.

• ▍Revenue $946.0M, +0,4% YoY
• ▍Operating income +19,2% YoY
• ▍Net income +9,6% YoY
• ▍Free cash flow −30,6% YoY
• ▍Net margin 10.9%

Revenue $798.0M, +4,9% YoY; Operating income +1,7% YoY.

• ▍Revenue $798.0M, +4,9% YoY
• ▍Operating income +1,7% YoY
• ▍Net income −13,9% YoY
• ▍Free cash flow +40,8% YoY
• ▍Net margin 7.8%

Revenue $932.0M; Operating income $168.0M.

• ▍Revenue $932.0M
• ▍Operating income $168.0M
• ▍Net margin 10.7%

Revenue $837.0M; Operating income $88.0M.

• ▍Revenue $837.0M
• ▍Operating income $88.0M
• ▍Net margin 4.5%

Revenue $942.0M; Operating income $146.0M.

• ▍Revenue $942.0M
• ▍Operating income $146.0M
• ▍Net margin 10.0%

Revenue $761.0M; Operating income $116.0M.

• ▍Revenue $761.0M
• ▍Operating income $116.0M
• ▍Net margin 9.5%

Revenue $3.56B, +2,2% YoY; Operating income +7,6% YoY.

• ▍Revenue $3.56B, +2,2% YoY
• ▍Operating income +7,6% YoY
• ▍Net income −2,2% YoY
• ▍Free cash flow +19,4% YoY
• ▍Net margin 8.6%

Revenue $3.48B, +19,5% YoY; Operating income +29,3% YoY.

• ▍Revenue $3.48B, +19,5% YoY
• ▍Operating income +29,3% YoY
• ▍Net income +37,3% YoY
• ▍Free cash flow +22,6% YoY
• ▍Net margin 9.0%

Revenue $2.91B, +10,5% YoY; Operating income −0,2% YoY.

• ▍Revenue $2.91B, +10,5% YoY
• ▍Operating income −0,2% YoY
• ▍Net income −2,1% YoY
• ▍Free cash flow −210,6% YoY
• ▍Net margin 7.8%

Revenue $2.64B, +8,7% YoY; Operating income +5,0% YoY.

• ▍Revenue $2.64B, +8,7% YoY
• ▍Operating income +5,0% YoY
• ▍Net income −4,5% YoY
• ▍Free cash flow −98,5% YoY
• ▍Net margin 8.8%