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CEG vs. PCG: Constellation Energy vs. PG&E Stock Comparison

How do Constellation Energy (CEG) and PG&E (PCG) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Constellation Energy (CEG) and PG&E (PCG) are both classified in the Electric Utilities sub-industry within the broader Electric Utilities industry, placing them in the closest GICS peer bucket.

PG&E (PCG) has more than two decades of public-market history since June 1, 1972, whereas Constellation Energy (CEG) listed on January 19, 2022 and has a much shorter record to draw on.

Company profile comparison for Constellation Energy (CEG) and PG&E (PCG)
Profile ItemCEGPCG
NameConstellation Energy CorporationPG&E Corporation
Country/RegionUnited StatesUnited States
GICS SectorUtilitiesUtilities
GICS Industry GroupUtilitiesUtilities
GICS IndustryElectric UtilitiesElectric Utilities
GICS Sub-IndustryElectric UtilitiesElectric Utilities
Market Capitalization88.56 billion USD28.57 billion USD
CurrencyUSDUSD
ExchangeNasdaqNYSE
Listing DateJanuary 19, 2022June 1, 1972
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

CEG
PCG
GSPC
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Constellation Energy (CEG) vs. PG&E (PCG), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Constellation Energy (CEG) and PG&E (PCG). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Constellation Energy (CEG) and PG&E (PCG). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Constellation Energy (CEG) and PG&E (PCG)
MetricCEGPCG
Total Return (1Y)-23.27%-19.03%
Total Return (3Y, Annualized)32.21%-6.50%
Total Return (5Y, Annualized)--2.05%

Risk Profile

Drawdown History

CEG
PCG
GSPC
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Constellation Energy (CEG) vs. PG&E (PCG), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Constellation Energy (CEG) and PG&E (PCG). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Constellation Energy (CEG) and PG&E (PCG)
MetricCEGPCG
Volatility (1Y, Annualized)49.44%34.84%
Beta (5Y)1.110.17
Max Drawdown (5Y)-50.70%-43.92%
Avg. Volume (3M)3.37M39.33M

Risk-Adjusted Performance

Risk-Return Positioning

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CEG and PCG are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Constellation Energy (CEG) and PG&E (PCG)
MetricCEGPCG
Sharpe Ratio (1Y)-0.56-0.67
Sortino Ratio (1Y)-0.78-0.81

Profitability

ROE (TTM)

Constellation Energy (CEG) at 15.06% sits in the top ROE quartile, while PG&E (PCG) at 8.89% is closer to the peer norm — stronger capital efficiency for CEG.

CEG

Utilities industry group

15.06%

Max
17.99%
CEG
15.06%
Q3
12.01%
Median
9.44%
Q1
7.56%
Min
2.17%

PCG

Utilities industry group

8.89%

Max
17.99%
Q3
12.01%
Median
9.44%
PCG
8.89%
Q1
7.56%
Min
2.17%
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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their ROE against the Utilities industry group benchmark.

Net Margin (TTM)

Both Constellation Energy (CEG) at 11.08% and PG&E (PCG) at 11.57% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

CEG

Utilities industry group

11.08%

Max
28.78%
Q3
17.30%
Median
12.73%
CEG
11.08%
Q1
9.18%
Min
-0.20%

PCG

Utilities industry group

11.57%

Max
28.78%
Q3
17.30%
Median
12.73%
PCG
11.57%
Q1
9.18%
Min
-0.20%
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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their net margin against the Utilities industry group benchmark.

Operating Margin (TTM)

PG&E (PCG) at 23.64% runs core operations around its industry’s norm, while Constellation Energy (CEG) at 8.66% operates in the bottom quartile.

CEG

Utilities industry group

8.66%

Max
53.83%
Q3
31.12%
Median
23.62%
Q1
15.45%
CEG
8.66%
Min
-4.90%

PCG

Utilities industry group

23.64%

Max
53.83%
Q3
31.12%
PCG
23.64%
Median
23.62%
Q1
15.45%
Min
-4.90%
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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their operating margin against the Utilities industry group benchmark.

Profitability Metrics

Profitability metrics for Constellation Energy (CEG) and PG&E (PCG)
MetricCEGPCG
ROE (TTM)15.06%8.89%
ROA (TTM)3.89%2.59%
Net Margin (TTM)11.08%11.57%
Operating Margin (TTM)8.66%23.64%
Gross Margin (TTM)22.11%40.57%

Growth

Revenue Growth

Constellation Energy (CEG) at 8.34% is around its peer norm for revenue growth, while PG&E (PCG) at 2.11% drops into the bottom quartile, signaling weaker demand or pricing momentum.

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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their Revenue Growth across different time periods.

EPS Growth

PG&E (PCG) at 2.61% is around its peer norm for EPS growth, while Constellation Energy (CEG) at -37.76% drops into the bottom quartile, signaling weaker earnings momentum.

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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Constellation Energy (CEG) and PG&E (PCG)
MetricCEGPCG
Revenue Growth (YoY)8.34%2.11%
Revenue Growth (3Y CAGR)1.47%4.77%
EPS Growth (YoY)-37.76%2.61%
EPS Growth (3Y CAGR)--12.00%

Financial Strength

Current Ratio (MRQ)

PG&E (PCG) at 1.03 keeps current ratio within its industry’s typical mid-range, while Constellation Energy (CEG) at 1.46 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

CEG

Utilities industry group

1.46

Max
1.90
CEG
1.46
Q3
1.17
Median
0.88
Q1
0.66
Min
0.29

PCG

Utilities industry group

1.03

Max
1.90
Q3
1.17
PCG
1.03
Median
0.88
Q1
0.66
Min
0.29
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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their current ratio against the Utilities industry group benchmark.

Debt / Equity (MRQ)

Constellation Energy (CEG) at 0.76 keeps leverage in the lower quartile, while PG&E (PCG) at 1.88 sits in the higher-leverage quartile.

CEG

Utilities industry group

0.76

Max
2.63
Q3
1.77
Median
1.35
Q1
0.84
CEG
0.76
Min
0.00

PCG

Utilities industry group

1.88

Max
2.63
PCG
1.88
Q3
1.77
Median
1.35
Q1
0.84
Min
0.00
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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their debt-to-equity ratio against the Utilities industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Constellation Energy (CEG) and PG&E (PCG)
MetricCEGPCG
Current Ratio (MRQ)1.461.03
Debt / Equity (MRQ)0.761.88
Net Debt / EBITDA3.026.05

Dividends

Dividend Yield (TTM)

Both Constellation Energy (CEG) at 0.68% and PG&E (PCG) at 1.51% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

CEG

Utilities industry group

0.68%

Max
6.66%
Q3
3.58%
Median
2.85%
CEG
0.68%
Q1
0.66%
Min
0.00%

PCG

Utilities industry group

1.51%

Max
6.66%
Q3
3.58%
Median
2.85%
PCG
1.51%
Q1
0.66%
Min
0.00%
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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their dividend yield against the Utilities industry group benchmark.

Dividend Payout Ratio (TTM)

Both Constellation Energy (CEG) at 15.92% and PG&E (PCG) at 14.81% pay out less of their earnings than their industries typically do, keeping retention high — common for businesses prioritizing reinvestment.

CEG

Utilities industry group

15.92%

Max
113.04%
Q3
68.72%
Median
56.38%
Q1
32.38%
CEG
15.92%
Min
0.00%

PCG

Utilities industry group

14.81%

Max
113.04%
Q3
68.72%
Median
56.38%
Q1
32.38%
PCG
14.81%
Min
0.00%
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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their payout ratio against the Utilities industry group benchmark.

Dividend Metrics

Dividend metrics for Constellation Energy (CEG) and PG&E (PCG)
MetricCEGPCG
Dividend Yield (TTM)0.68%1.51%
Dividend Payout Ratio (TTM)15.92%14.81%

Valuation

P/E Ratio (TTM)

PG&E (PCG) at 9.61 sits in the cheaper P/E ratio quartile, while Constellation Energy (CEG) at 24.43 sits in the richer quartile — a clear split in what investors pay for each dollar of trailing earnings.

CEG

Utilities industry group

24.43

Max
31.22
CEG
24.43
Q3
23.30
Median
19.64
Q1
15.17
Min
3.34

PCG

Utilities industry group

9.61

Max
31.22
Q3
23.30
Median
19.64
Q1
15.17
PCG
9.61
Min
3.34
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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their P/E ratio against the Utilities industry group benchmark.

P/S Ratio (TTM)

PG&E (PCG) at 1.11 sits in the cheaper P/S ratio quartile while Constellation Energy (CEG) at 2.83 prices around its industry’s middle — PCG costs less per dollar of sales, though read it alongside growth and margins.

CEG

Utilities industry group

2.83

Max
6.35
Q3
3.63
CEG
2.83
Median
2.63
Q1
1.52
Min
0.00

PCG

Utilities industry group

1.11

Max
6.35
Q3
3.63
Median
2.63
Q1
1.52
PCG
1.11
Min
0.00
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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their P/S ratio against the Utilities industry group benchmark.

P/B Ratio (MRQ)

PG&E (PCG) at 0.87 looks cheap against book in the lower P/B ratio quartile, while Constellation Energy (CEG) at 2.78 carries a premium in the upper quartile — a clear price-to-book gap.

CEG

Utilities industry group

2.78

Max
3.12
CEG
2.78
Q3
2.21
Median
1.83
Q1
1.46
Min
0.34

PCG

Utilities industry group

0.87

Max
3.12
Q3
2.21
Median
1.83
Q1
1.46
PCG
0.87
Min
0.34
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Constellation Energy (CEG) vs. PG&E (PCG): A comparison of their P/B ratio against the Utilities industry group benchmark.

Valuation Metrics

Valuation metrics for Constellation Energy (CEG) and PG&E (PCG)
MetricCEGPCG
P/E Ratio (TTM)24.439.61
P/S Ratio (TTM)2.831.11
P/B Ratio (MRQ)2.780.87
Free Cash Flow Yield (TTM)-7.48%-22.73%