Utilities · Electric Utilities · US stock · price as of 22 Oct 2026
Key indicators
Price
$72.72
52-week range
$66.15 – $87.63
Market cap
$36.3B
P/E (trailing)
18.1×
EV / EBITDA
20.9×
Free-cash-flow yield
0.8%
Dividend yield
3.6%
Revenue (last 12 months)
$13.0B
Revenue growth (3y a year)
2.7%
Operating margin
22.3%
Return on invested capital
6.2%
Net debt / EBITDA
8.4×
Fair value
Fair value (average of valid models)$64.32 middle half of models $60 – $74
Versus priceFair−12% to fair value
P/E multiple
$73.97
P/B multiple
$77.35
P/S multiple
$75.01
EV/EBITDA multiple
$68.09
EV/EBIT multiple
$76.35
EV/revenue multiple
$71.97
10-year DCF, EBITDA exit
$40.17
5-year DCF, EBITDA exit
$63.06
10-year DCF, revenue exit
$43.94
5-year DCF, revenue exit
$65.21
5-year DCF, growth exit
$49.70
Earnings power value
$66.97
Model uncertainty
Medium
X-Ray Score
54/ 100 · Medium confidence · ahead of 65% of sector peers
Valuation48
Growth63
Profitability45
Financial health66
Dividends47
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Public Service Enterprise Group is a holding company whose main business is PSE&G, a regulated utility delivering electricity and natural gas to customers in New Jersey. It also owns PSEG Power, which operates nuclear generation and sells electricity into wholesale markets. Revenue comes mainly from regulated delivery rates approved by the state, together with sales of power from its generation fleet.
Revenue of $13.0 billion was recorded for the latest twelve months; sales expanded at 2.7% a year across three years. Public Service Enterprise Group Inc converts that into an operating margin of 22.3%. Return on invested capital comes to 6%. Leverage, measured as net debt to EBITDA, is 8.4 times.
StocksXray gives Public Service Enterprise Group Inc an X-Ray Score of 54 out of 100 (medium confidence), ahead of 65% of the S&P 500 stocks in its sector. Its strongest lens is financial health (66) and its weakest is profitability (45).
Our fair value (the average of the valid models) is $64.32 (range $59.72 to $74.23). At $72.72 the stock trades 13% above that value, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Public Service Enterprise Group Inc (PEG)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$56.87
$53.97
$55.93
$79.77
$78.26
$72.72
Market cap
$28.7B
$27.0B
$28.0B
$39.9B
$39.2B
$36.3B
P/E
–
26.2×
10.9×
22.5×
18.5×
18.1×
EV / revenue
4.6×
4.2×
4.3×
6.1×
5.2×
4.7×
EV / EBITDA
–
33.9×
13.1×
26.5×
21.2×
20.9×
Price / free cash flow
–
–
58.1×
–
1,508.0×
131.5×
Free-cash-flow yield
−3.4%
−5.1%
1.7%
−3.1%
0.1%
0.8%
Price / book
2.0×
2.0×
1.8×
2.5×
2.3×
2.1×
Dividend yield
3.59%
4.00%
4.08%
3.01%
3.22%
3.63%
Fundamentals checklist ● 6 Good · ● 4 Average · ● 4 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−2.7%Bad
Free-cash-flow yield0.8%Good
Risk models
Altman Z score1.5×Good
Piotroski F-Score7 of 9Good
Growth
EPS growth (3y)27.0%Good
Revenue growth (3y)2.7%Average
Growth consistency70%Bad
Balance sheet
Current ratio0.9×Average
Net debt / EBITDA8.4×Bad
Interest cover2.7×Good
Valuation
Fair value vs price0.9×Bad
EBIT / EV yield4.8%Average
Profitability
Return on invested capital6.2%Good
Operating margin22.3%Average
Red flags
Dividend may be at risk — Dividends exceed free cash flow
Dividend may be at risk — Dividends exceed free cash flow
Dividend may be at risk — Dividends exceed free cash flow
Dividend may be at risk — Dividends exceed free cash flow
Dividend may be at risk — Dividends exceed free cash flow
XStocksXray
Public Service Enterprise Group Inc (PEG)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
10,315
11,231
11,237
10,290
12,168
13,026
Gross profit
–
–
–
–
–
–
Operating income
-856
1,381
3,685
2,353
2,980
2,902
Net income
-648
1,031
2,563
1,772
2,111
2,012
Diluted EPS ($)
-1.29
2.06
5.13
3.54
4.22
4.02
Free cash flow
-983
-1,385
481
-1,247
26
276
Gross margin
–
–
–
–
–
–
Operating margin
−8.3%
12.3%
32.8%
22.9%
24.5%
22.3%
Net margin
−6.3%
9.2%
22.8%
17.2%
17.3%
15.4%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
48,999
48,718
50,741
54,640
57,576
58,813
Cash
818
465
54
125
132
192
Total debt
19,438
20,270
20,233
22,707
24,074
24,541
Equity
14,438
13,729
15,477
16,114
16,982
17,329
Dividend per share ($)
2.04
2.16
2.28
2.40
2.52
2.60
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
