Portland General Electric (POR) financial statements
Portland General Electric reported revenue of $3.6B in fiscal 2025, up 7.1% a year over 9 years.
Net income was $306M and the operating margin 15.6%, against 17.7% in 2016.
Free cash flow was -$71M, and the company returned $225M in dividends.
The diluted share count rose 24% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Portland General Electric's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9B | $2.0B | $2.0B | $2.1B | $2.2B | $2.4B | $2.6B | $2.9B | $3.5B | $3.6B |
| Selling, general and admin | $240M | $260M | $271M | $290M | $283M | $336M | $340M | $341M | $403M | $392M |
| Operating income | $340M | $380M | $346M | $353M | $269M | $378M | $397M | $396M | $512M | $555M |
| Interest expense | $112M | $120M | $124M | $128M | $136M | $137M | $156M | $173M | $211M | $232M |
| Pre-tax income | $243M | $273M | $229M | $241M | $155M | $267M | $272M | $273M | $350M | $359M |
| Income tax | $50M | $86M | $17M | $27M | $0 | $23M | $39M | $45M | $37M | $53M |
| Net income | $193M | $187M | $212M | $214M | $155M | $244M | $233M | $228M | $313M | $306M |
| EPS (diluted) | $2.16 | $2.10 | $2.37 | $2.39 | $1.72 | $2.72 | $2.60 | $2.33 | $3.01 | $2.77 |
| Diluted shares | 89M | 89M | 89M | 90M | 90M | 90M | 90M | 98M | 104M | 111M |
| Operating margin | 17.7% | 18.9% | 17.4% | 16.6% | 12.5% | 15.6% | 15.1% | 13.6% | 14.7% | 15.6% |
| Net margin | 10.0% | 9.3% | 10.7% | 10.1% | 7.2% | 10.1% | 8.8% | 7.8% | 9.0% | 8.6% |
Balance sheet
Fiscal years, from Portland General Electric's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $6M | $39M | $119M | $30M | $257M | $52M | $165M | $5M | $12M | $76M |
| Receivables | $155M | $168M | $193M | $253M | $271M | $329M | $398M | $414M | $456M | $460M |
| Total current assets | $463M | $526M | $643M | $500M | $721M | $688M | $1.2B | $935M | $1.0B | $1.1B |
| Property, plant and equipment | — | — | $6.9B | $7.2B | — | — | — | — | — | — |
| Total assets | $7.5B | $7.8B | $8.1B | $8.4B | $9.1B | $9.5B | $10.5B | $11.2B | $12.5B | $13.2B |
| Total current liabilities | $577M | $432M | $791M | $519M | $815M | $768M | $1.5B | $1.1B | $1.1B | $993M |
| Long-term debt | $2.2B | $2.4B | $2.2B | $2.6B | $2.9B | $3.3B | $3.4B | $3.9B | $4.4B | $4.7B |
| Total liabilities | $5.2B | $5.4B | $5.6B | $5.8B | $6.5B | $6.8B | $7.7B | $7.9B | $8.8B | $9.1B |
| Shareholders' equity | $2.3B | $2.4B | $2.5B | $2.6B | $2.6B | $2.7B | $2.8B | $3.3B | $3.8B | $4.1B |
| Net debt | $2.3B | $2.4B | $2.4B | $2.6B | $2.8B | $3.2B | $3.5B | $4.0B | $4.5B | $4.6B |
Cash flow
Fiscal years, from Portland General Electric's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $562M | $597M | $630M | $546M | $567M | $532M | $674M | $420M | $778M | $1.1B |
| Capital spending | $584M | $514M | $595M | $606M | $784M | $636M | $766M | $1.4B | $1.3B | $1.2B |
| Free cash flow | -$22M | $83M | $35M | -$60M | -$217M | -$104M | -$92M | -$938M | -$490M | -$71M |
| Stock-based compensation | $6M | $7M | $5M | $9M | $11M | $14M | $15M | $17M | $24M | $16M |
| Dividends paid | $110M | $118M | $125M | $134M | $140M | $150M | $158M | $179M | $200M | $225M |
| Share buybacks (net) | — | — | — | $0 | $0 | -$12M | -$18M | $0 | $0 | — |
| Net borrowing | $151M | $75M | $51M | $120M | $451M | $240M | $360M | $486M | $394M | $140M |
| Free cash flow margin | -1.1% | 4.1% | 1.8% | -2.8% | -10.1% | -4.3% | -3.5% | -32.2% | -14.1% | -2.0% |
| Dividends per share | $1.24 | $1.32 | $1.40 | $1.50 | $1.56 | $1.67 | $1.76 | $1.83 | $1.92 | $2.03 |
Questions
What was Portland General Electric's revenue in 2025?
$3.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Portland General Electric generate?
-$71M in fiscal 2025 (operating cash flow minus capital spending).
From Portland General Electric's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.