Portland General Electric Co (POR) financial statements: income statement, balance sheet and cash flow
Portland General Electric Co's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Portland General Electric Co reported revenue of $3.6B (+4.0% year on year) and net income of $306.0M (-2.2% year on year).
Income statement
Portland General Electric Co income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenues, net
$3.6B
$3.5B
$2.9B
$2.6B
Alternative revenue programs, net of amortization
$21.0M
($40.0M)
$11.0M
$11.0M
Total Revenues
$3.6B
$3.4B
$2.9B
$2.6B
Purchased power and fuel
$1.4B
$1.4B
$1.2B
$988.0M
Generation, transmission and distribution
$450.0M
$436.0M
$374.0M
$348.0M
Administrative and other
$392.0M
$403.0M
$341.0M
$340.0M
Depreciation and amortization
$578.0M
$496.0M
$458.0M
$417.0M
Taxes other than income taxes
$190.0M
$175.0M
$164.0M
$157.0M
Total operating expenses
$3.0B
$2.9B
$2.5B
$2.3B
Income from operations
$555.0M
$512.0M
$396.0M
$397.0M
Interest expense, net
$232.0M
$211.0M
$173.0M
$156.0M
Allowance for equity funds used during construction
$18.0M
$23.0M
$19.0M
$14.0M
Miscellaneous income, net
$18.0M
$26.0M
$31.0M
$17.0M
Other income, net
$36.0M
$49.0M
$50.0M
$31.0M
Income before income taxes
$359.0M
$350.0M
$273.0M
$272.0M
Income tax expense
$53.0M
$37.0M
$45.0M
$39.0M
Net income
$306.0M
$313.0M
$228.0M
$233.0M
Basic
110.5M
103.9M
97.8M
89.3M
Diluted
110.7M
104.2M
98.0M
89.6M
Basic
$2.77
$3.02
$2.33
$2.61
Diluted
$2.77
$3.01
$2.33
$2.60
Portland General Electric Co income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenues, net
$811.0M
$863.0M
$946.0M
$798.0M
Alternative revenue programs, net of amortization
$3.0M
$16.0M
$6.0M
$9.0M
Total revenues
$814.0M
$879.0M
$952.0M
$807.0M
Purchased power and fuel
$296.0M
$361.0M
$372.0M
$294.0M
Generation, transmission and distribution
$112.0M
$110.0M
$112.0M
$114.0M
Administrative and other
$90.0M
$106.0M
$99.0M
$96.0M
Depreciation and amortization
$143.0M
$144.0M
$148.0M
$139.0M
Taxes other than income taxes
$52.0M
$51.0M
$47.0M
$46.0M
Total operating expenses
$693.0M
$772.0M
$778.0M
$689.0M
Income from operations
$121.0M
$107.0M
$174.0M
$118.0M
Interest expense, net
$61.0M
$60.0M
$60.0M
$57.0M
Allowance for equity funds used during construction
$6.0M
$3.0M
$4.0M
$6.0M
Miscellaneous income, net
$14.0M
$4.0M
$5.0M
$7.0M
Other income, net
$20.0M
$7.0M
$9.0M
$13.0M
Income before income tax expense
$80.0M
$54.0M
$123.0M
$74.0M
Income tax expense
$12.0M
$9.0M
$20.0M
$12.0M
Net income and Comprehensive income
$68.0M
$45.0M
$104.0M
$62.0M
Basic
115.7M
115.6M
110.2M
109.5M
Diluted
116.4M
116.1M
110.4M
109.8M
Basic
$0.59
$0.39
$0.94
$0.56
Diluted
$0.59
$0.38
$0.94
$0.56
Balance sheet
Portland General Electric Co balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$76.0M
$12.0M
$5.0M
$165.0M
Accounts receivable, net
$460.0M
$456.0M
$414.0M
$398.0M
Materials and supplies
$99.0M
$92.0M
$83.0M
$63.0M
Fuel
$25.0M
$22.0M
$30.0M
$32.0M
Regulatory assets-current
$168.0M
$205.0M
$221.0M
$54.0M
Other current assets
$244.0M
$238.0M
$182.0M
$498.0M
Total current assets
$1.1B
$1.0B
$935.0M
$1.2B
In service
$16.0B
$14.9B
$13.3B
$12.4B
Accumulated depreciation and amortization
($5.4B)
($5.1B)
($4.8B)
($4.4B)
Total in service, net
$10.6B
$9.8B
$8.6B
$8.0B
Construction work-in-progress
$416.0M
$567.0M
$974.0M
$467.0M
Electric utility plant, net
$11.0B
$10.3B
$9.5B
$8.5B
Regulatory assets - noncurrent
$619.0M
$632.0M
$492.0M
$473.0M
Nuclear decommissioning trust
$42.0M
$30.0M
$31.0M
$39.0M
Non-qualified benefit plan trust
$36.0M
$34.0M
$35.0M
$38.0M
Other noncurrent assets
$468.0M
$478.0M
$169.0M
$234.0M
Total assets
$13.2B
$12.5B
$11.2B
$10.5B
Accounts payable
$330.0M
$365.0M
$347.0M
$457.0M
Liabilities from price risk management activities - current
$158.0M
$147.0M
$164.0M
$118.0M
Current portion of long-term debt
$0
$170.0M
$80.0M
$260.0M
Current portion of finance lease obligations
$27.0M
$27.0M
$20.0M
$20.0M
Accrued expenses and other current liabilities
$478.0M
$410.0M
$355.0M
$641.0M
Total current liabilities
$993.0M
$1.1B
$1.1B
$1.5B
Long-term debt, net of current portion
$4.7B
$4.4B
$3.9B
$3.4B
Regulatory liabilities-noncurrent
$1.5B
$1.4B
$1.4B
$1.4B
Deferred income taxes
$601.0M
$564.0M
$488.0M
$439.0M
Deferred investment tax credits
$194.0M
$61.0M
—
—
Unfunded status of pension and postretirement plans
$107.0M
$140.0M
$172.0M
$170.0M
Liabilities from price risk management activities-noncurrent
$56.0M
$72.0M
$75.0M
$75.0M
Asset retirement obligations
$299.0M
$292.0M
$272.0M
$257.0M
Non-qualified benefit plan liabilities
$70.0M
$74.0M
$79.0M
$83.0M
Finance lease obligations, net of current portion
$263.0M
$276.0M
$289.0M
$294.0M
Other noncurrent liabilities
$362.0M
$358.0M
$99.0M
$91.0M
Total liabilities
$9.1B
$8.8B
$7.9B
$7.7B
Preferred stock, no par value, 30,000,000 shares authorized; none issued and outstanding
0
0
0
0
Common stock, no par value, 160,000,000 shares authorized; 115,559,079 and 109,342,251 shares issued and outstanding as of December 31, 2025 and 2024, respectively
2.4B
2.1B
1.8B
1.2B
Accumulated other comprehensive loss
($4.0M)
($4.0M)
($5.0M)
($4.0M)
Retained earnings
$1.8B
$1.7B
$1.6B
$1.5B
Total shareholders' equity
$4.1B
$3.8B
$3.3B
$2.8B
Total liabilities and shareholders' equity
$13.2B
$12.5B
$11.2B
$10.5B
Portland General Electric Co balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$35.0M
$8.0M
$137.0M
$56.0M
Accounts receivable, net
$410.0M
$405.0M
$455.0M
$397.0M
Inventories
$126.0M
$130.0M
$124.0M
$123.0M
Regulatory assets-current
$255.0M
$243.0M
$207.0M
$188.0M
Other current assets
$218.0M
$224.0M
$136.0M
$126.0M
Total current assets
$1.0B
$1.0B
$1.1B
$890.0M
Electric utility plant, net
$11.5B
$11.1B
$10.8B
$10.6B
Regulatory assets-noncurrent
$521.0M
$552.0M
$599.0M
$581.0M
Nuclear decommissioning trust
$46.0M
$40.0M
$44.0M
$42.0M
Non-qualified benefit plan trust
$38.0M
$35.0M
$36.0M
$35.0M
Other noncurrent assets
$459.0M
$464.0M
$472.0M
$488.0M
Total assets
$13.6B
$13.2B
$13.0B
$12.7B
Accounts payable
$451.0M
$277.0M
$276.0M
$267.0M
Liabilities from price risk management activities-current
$140.0M
$167.0M
$133.0M
$112.0M
Current portion of finance lease obligation
$27.0M
$27.0M
$27.0M
$27.0M
Accrued expenses and other current liabilities
$451.0M
$449.0M
$481.0M
$439.0M
Total current liabilities
$1.1B
$929.0M
$985.0M
$913.0M
Long-term debt, net of current portion
$4.9B
$4.7B
$4.7B
$4.7B
Regulatory liabilities-noncurrent
$1.5B
$1.5B
$1.5B
$1.4B
Deferred income taxes
$639.0M
$623.0M
$572.0M
$606.0M
Deferred investment tax credits
$190.0M
$193.0M
$195.0M
$65.0M
Unfunded status of pension and postretirement plans
$94.0M
$93.0M
—
—
Liabilities from price risk management activities-noncurrent
$66.0M
$73.0M
$43.0M
$43.0M
Asset retirement obligations
$301.0M
$301.0M
$293.0M
$293.0M
Non-qualified benefit plan liabilities
$67.0M
$68.0M
$70.0M
$71.0M
Finance lease obligations, net of current portion
$256.0M
$259.0M
$266.0M
$270.0M
Other noncurrent liabilities
$403.0M
$384.0M
$359.0M
$352.0M
Total liabilities
$9.5B
$9.1B
$9.1B
$8.8B
Preferred stock, no par value, 30,000,000 shares authorized; none issued and outstanding as of June 30, 2026 and December 31, 2025
0
0
0
0
Common stock, no par value, 160,000,000 shares authorized; 115,785,254 and 115,559,079 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
2.4B
2.4B
2.2B
2.1B
Accumulated other comprehensive loss
($4.0M)
($4.0M)
($3.0M)
($4.0M)
Retained earnings
$1.7B
$1.7B
$1.8B
$1.7B
Total shareholders' equity
$4.1B
$4.1B
$4.0B
$3.9B
Total liabilities and shareholders' equity
$13.6B
$13.2B
$13.0B
$12.7B
Cash flow statement
Portland General Electric Co cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$306.0M
$313.0M
$228.0M
$233.0M
Depreciation and amortization
$578.0M
$496.0M
$458.0M
$417.0M
Deferred income taxes
$37.0M
$23.0M
$8.0M
$6.0M
Allowance for equity funds used during construction
($18.0M)
($23.0M)
($19.0M)
($14.0M)
Pension and other postretirement benefits
$12.0M
$6.0M
$5.0M
$13.0M
Alternative revenue programs
($21.0M)
$40.0M
($11.0M)
($11.0M)
Stock-based compensation
$16.0M
$24.0M
$17.0M
$15.0M
Regulatory assets
$24.0M
($126.0M)
$20.0M
—
Regulatory liabilities
($21.0M)
($20.0M)
$24.0M
—
Tax credit sales
$179.0M
—
—
—
Other non-cash income and expenses, net
$64.0M
$57.0M
$40.0M
$54.0M
Accounts receivable and unbilled revenues
($16.0M)
($66.0M)
($29.0M)
($66.0M)
Margin deposits
$9.0M
($33.0M)
$24.0M
($80.0M)
Accounts payable and accrued liabilities
$44.0M
$47.0M
($166.0M)
$157.0M
Margin deposits from wholesale counterparties
$16.0M
—
—
—
Other working capital items, net
($10.0M)
($12.0M)
($20.0M)
($22.0M)
Contribution to pension and other postretirement plans
($24.0M)
—
—
—
Contribution to non-qualified employee benefit trust
($10.0M)
($10.0M)
($7.0M)
($9.0M)
Asset Retirement Obligation, Cash Paid to Settle
($13.0M)
($16.0M)
($25.0M)
($27.0M)
Other, net
($34.0M)
($34.0M)
($16.0M)
($45.0M)
Net cash provided by operating activities
$1.1B
$778.0M
$420.0M
$674.0M
Capital expenditures
($1.2B)
($1.3B)
($1.4B)
($766.0M)
Purchases of nuclear decommissioning trust securities
($9.0M)
($8.0M)
($1.0M)
($3.0M)
Sales of nuclear decommissioning trust securities
$4.0M
$2.0M
$1.0M
$3.0M
Other, net
($2.0M)
($23.0M)
$0
($5.0M)
Net cash used in investing activities
($1.2B)
($1.3B)
($1.4B)
($758.0M)
Proceeds from issuance of long-term debt
$310.0M
$670.0M
$600.0M
$360.0M
Payments on long-term debt
($170.0M)
($130.0M)
($260.0M)
$0
Proceeds from issuances of common stock, net of issuance costs
$250.0M
$346.0M
$485.0M
—
Issuance (maturities) of commercial paper, net
$0
($146.0M)
$146.0M
—
Dividends paid
($225.0M)
($200.0M)
($179.0M)
($158.0M)
Other
($23.0M)
($14.0M)
($14.0M)
($12.0M)
Net cash provided by financing activities
$142.0M
$526.0M
$778.0M
$197.0M
Change in cash and cash equivalents
$64.0M
$7.0M
($160.0M)
$113.0M
Cash and cash equivalents, beginning of year
$12.0M
$5.0M
$165.0M
$52.0M
Cash and cash equivalents, end of year
$76.0M
$12.0M
$5.0M
$165.0M
Cash paid for interest, net of amounts capitalized
$198.0M
$174.0M
$136.0M
$128.0M
Income taxes, net
($162.0M)
—
—
—
Accrued capital additions
$126.0M
$184.0M
$212.0M
$111.0M
Accrued dividends payable
$63.0M
$57.0M
$51.0M
$42.0M
Portland General Electric Co cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$113.0M
$45.0M
$265.0M
$162.0M
Depreciation and amortization
$287.0M
$144.0M
$427.0M
$279.0M
Deferred income taxes
$13.0M
$14.0M
$39.0M
$25.0M
Allowance for equity funds used during construction
($9.0M)
($3.0M)
($15.0M)
($11.0M)
Alternative revenue programs
($19.0M)
($16.0M)
($11.0M)
($5.0M)
Regulatory assets
$3.0M
$12.0M
($6.0M)
($3.0M)
Regulatory liabilities
$4.0M
$31.0M
($21.0M)
($16.0M)
Tax credit sales
$12.0M
$3.0M
$153.0M
$13.0M
Other non-cash income and expenses, net
$61.0M
$43.0M
$69.0M
$49.0M
Accounts receivable, net
$47.0M
$52.0M
($9.0M)
$52.0M
Inventories
($2.0M)
($6.0M)
($10.0M)
($9.0M)
Margin deposits
$50.0M
$45.0M
$66.0M
$85.0M
Accounts payable and accrued liabilities
($53.0M)
($48.0M)
$43.0M
($35.0M)
Margin deposits from wholesale counterparties
$8.0M
$3.0M
$0
—
Other working capital items, net
$12.0M
($3.0M)
$37.0M
$22.0M
Other, net
($39.0M)
($48.0M)
($57.0M)
($41.0M)
Net cash provided by operating activities
$488.0M
$268.0M
$970.0M
$567.0M
Capital expenditures
($635.0M)
($259.0M)
($899.0M)
($596.0M)
Sales of Nuclear decommissioning trust securities
$3.0M
$3.0M
$4.0M
$1.0M
Purchases of Nuclear decommissioning trust securities
($3.0M)
($3.0M)
($9.0M)
($3.0M)
Other, net
($15.0M)
($3.0M)
($12.0M)
($11.0M)
Net cash used in investing activities
($650.0M)
($262.0M)
($916.0M)
($609.0M)
Proceeds from Issuance of long-term debt
$270.0M
$0
$310.0M
$310.0M
Payments on long-term debt
$0
$0
($102.0M)
($102.0M)
Dividends paid
($120.0M)
($60.0M)
($167.0M)
($109.0M)
Other
($29.0M)
($23.0M)
($19.0M)
($13.0M)
Net cash provided by financing activities
$121.0M
($74.0M)
$71.0M
$86.0M
Change in cash and cash equivalents
($41.0M)
($68.0M)
$125.0M
$44.0M
Cash and cash equivalents, beginning of period
$76.0M
$76.0M
$137.0M
$56.0M
Cash and cash equivalents, end of period
$35.0M
$8.0M
—
—
Cash paid for interest, net of amounts capitalized