Portland General Financials
Portland General (POR) reported $3.6B in revenue for fiscal year 2025, up 4.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A capital-intensive model where operating cash flow is finally catching up to heavy reinvestment.
FY2025’s cash-flow improvement did not come from higher reported earnings alone: net income slipped from$313M to$306M while operating cash flow jumped from$778M to$1.1B , pulling free cash flow from-$490M to-$71M . That combination says the business got much better at turning profit into cash, even though its capital program still absorbed almost all of that cash with$1.2B of capex.
Long-term debt climbed from
Profitability looks stable rather than transformative: operating margin finished FY2025 at
Financial Health Signals
Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Portland General's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Portland General scores 0.99, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Portland General passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Portland General generates $3.65 in operating cash flow ($1.1B OCF vs $306.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Portland General earns $2.39 in operating income for every $1 of interest expense ($555.0M vs $232.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Portland General generated $3.6B in revenue in fiscal year 2025. This represents an increase of 4.0% from the prior year.
Portland General's EBITDA was $1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 12.4% from the prior year.
Portland General reported $306.0M in net income in fiscal year 2025. This represents a decrease of 2.2% from the prior year.
Portland General earned $2.77 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 8.0% from the prior year.
Cash & Balance Sheet
Portland General recorded an outflow of $71.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 85.5% from the prior year.
Portland General held $76.0M in cash against $4.7B in long-term debt as of fiscal year 2025.
Portland General paid $2.08 per share in dividends in fiscal year 2025. This represents an increase of 5.1% from the prior year.
Margins & Returns
Portland General's operating margin was 15.5% in fiscal year 2025, reflecting core business profitability. This is up 0.6 percentage points from the prior year.
Portland General's net profit margin was 8.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.5 percentage points from the prior year.
Portland General's ROE was 7.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.9 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Portland General invested $1.2B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 6.2% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
POR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.5B | $3.6B+4.0% | $3.4B+17.7% | $2.9B+10.4% | $2.6B+10.5% | $2.4B+11.7% | $2.1B+1.0% | $2.1B+6.6% | $2.0B-0.9% | $2.0B+4.5% | $1.9B | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $396.0M | $392.0M-2.7% | $403.0M+18.2% | $341.0M+0.3% | $340.0M+1.2% | $336.0M+18.7% | $283.0M-2.4% | $290.0M+7.0% | $271.0M+4.2% | $260.0M+8.3% | $240.0M-0.4% | $241.0M+6.2% | $227.0M+3.7% | $219.0M+1.4% | $216.0M-0.9% | $218.0M |
| Operating Income | $497.0M | $555.0M+8.4% | $512.0M+29.3% | $396.0M-0.3% | $397.0M+5.0% | $378.0M+40.5% | $269.0M-23.8% | $353.0M+2.0% | $346.0M-8.9% | $380.0M+11.8% | $340.0M+10.0% | $309.0M+5.5% | $293.0M+42.2% | $206.0M-31.8% | $302.0M-2.3% | $309.0M |
| Interest Expense | $240.0M | $232.0M+10.0% | $211.0M+22.0% | $173.0M+10.9% | $156.0M+13.9% | $137.0M+0.7% | $136.0M+6.3% | $128.0M+3.2% | $124.0M+3.3% | $120.0M+7.1% | $112.0M-1.8% | $114.0M+18.8% | $96.0M-5.0% | $101.0M-6.5% | $108.0M-1.8% | $110.0M |
| Income Tax | $40.0M | $53.0M+43.2% | $37.0M-17.8% | $45.0M+15.4% | $39.0M+69.6% | $23.0M | $0-100.0% | $27.0M+58.8% | $17.0M-80.2% | $86.0M+72.0% | $50.0M+11.1% | $45.0M-26.2% | $61.0M+190.5% | $21.0M-67.2% | $64.0M+10.3% | $58.0M |
| Net Income | $257.0M | $306.0M-2.2% | $313.0M+37.3% | $228.0M-2.1% | $233.0M-4.5% | $244.0M+57.4% | $155.0M-27.6% | $214.0M+0.9% | $212.0M+13.4% | $187.0M-3.1% | $193.0M+12.2% | $172.0M-1.7% | $175.0M+66.7% | $105.0M-25.5% | $141.0M-4.1% | $147.0M |
| EPS (Diluted) | — | $2.77-8.0% | $3.01+29.2% | $2.33-10.4% | $2.60-4.4% | $2.72+58.1% | $1.72-28.0% | $2.39+0.8% | $2.37+12.9% | $2.10-2.8% | $2.16+5.9% | $2.04-6.4% | $2.18+61.5% | $1.35-27.8% | $1.87-4.1% | $1.95 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
POR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.2B+5.5% | $12.5B+11.9% | $11.2B+7.2% | $10.5B+10.2% | $9.5B+4.7% | $9.1B+8.0% | $8.4B+3.5% | $8.1B+3.5% | $7.8B+4.1% | $7.5B+4.4% | $7.2B+2.4% | $7.0B+15.4% | $6.1B+7.6% | $5.7B-1.1% | $5.7B |
| Current Assets | $1.1B+4.6% | $1.0B+9.6% | $935.0M-22.7% | $1.2B+75.9% | $688.0M-4.6% | $721.0M+44.2% | $500.0M-22.2% | $643.0M+22.2% | $526.0M+13.6% | $463.0M-16.9% | $557.0M-20.3% | $699.0M+18.3% | $591.0M-5.0% | $622.0M-13.1% | $716.0M |
| Cash & Equivalents | $76.0M+533.3% | $12.0M+140.0% | $5.0M-97.0% | $165.0M+217.3% | $52.0M-79.8% | $257.0M+756.7% | $30.0M-74.8% | $119.0M+205.1% | $39.0M+550.0% | $6.0M+50.0% | $4.0M-96.9% | $127.0M+18.7% | $107.0M+791.7% | $12.0M+100.0% | $6.0M |
| Accounts Receivable | $460.0M+0.9% | $456.0M+10.1% | $414.0M+4.0% | $398.0M+21.0% | $329.0M+21.4% | $271.0M+7.1% | $253.0M+31.1% | $193.0M+14.9% | $168.0M+8.4% | $155.0M-1.9% | $158.0M+6.0% | $149.0M+2.1% | $146.0M-3.9% | $152.0M+5.6% | $144.0M |
| Total Liabilities | $9.1B+4.0% | $8.8B+10.9% | $7.9B+2.7% | $7.7B+13.2% | $6.8B+5.1% | $6.5B+11.3% | $5.8B+3.6% | $5.6B+3.4% | $5.4B+4.6% | $5.2B+4.7% | $5.0B-3.5% | $5.1B+19.9% | $4.3B+8.7% | $3.9B-3.1% | $4.1B |
| Current Liabilities | $993.0M-11.3% | $1.1B+0.6% | $1.1B-25.7% | $1.5B+94.8% | $768.0M-5.8% | $815.0M+57.0% | $519.0M-34.4% | $791.0M+83.1% | $432.0M-25.1% | $577.0M-7.8% | $626.0M-28.3% | $873.0M+122.1% | $393.0M-24.6% | $521.0M-15.1% | $614.0M |
| Long-Term Debt | $4.7B+7.1% | $4.4B+11.5% | $3.9B+15.3% | $3.4B+3.1% | $3.3B+13.8% | $2.9B+11.1% | $2.6B+19.2% | $2.2B-10.2% | $2.4B+10.3% | $2.2B+6.8% | $2.1B-3.1% | $2.1B+11.0% | $1.9B+24.7% | $1.5B-6.1% | $1.6B |
| Total Equity | $4.1B+8.9% | $3.8B+14.3% | $3.3B+19.4% | $2.8B+2.7% | $2.7B+3.6% | $2.6B+0.8% | $2.6B+3.4% | $2.5B+3.7% | $2.4B+3.1% | $2.3B+3.8% | $2.3B+18.2% | $1.9B+5.1% | $1.8B+5.3% | $1.7B+3.9% | $1.7B |
| Retained Earnings | $1.8B+4.5% | $1.7B+6.7% | $1.6B+2.6% | $1.5B+3.9% | $1.5B+6.0% | $1.4B+0.9% | $1.4B+6.1% | $1.3B+6.9% | $1.2B+5.8% | $1.1B+7.5% | $1.1B+7.0% | $1.0B+9.5% | $913.0M+2.2% | $893.0M+7.2% | $833.0M |
Not reported in any period shown, so not listed: Inventory, Goodwill.
POR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.0B | $1.1B+43.7% | $778.0M+85.2% | $420.0M-37.7% | $674.0M+26.7% | $532.0M-6.2% | $567.0M+3.8% | $546.0M-13.3% | $630.0M+5.5% | $597.0M+6.2% | $562.0M+8.1% | $520.0M0.0% | $520.0M-4.4% | $544.0M+10.1% | $494.0M+9.1% | $453.0M |
| Capital Expenditures | $1.2B | $1.2B-6.2% | $1.3B-6.6% | $1.4B+77.3% | $766.0M+20.4% | $636.0M-18.9% | $784.0M+29.4% | $606.0M+1.8% | $595.0M+15.8% | $514.0M-12.0% | $584.0M-2.3% | $598.0M-40.6% | $1.0B+53.5% | $656.0M+116.5% | $303.0M+1.0% | $300.0M |
| Free Cash Flow | -$189.0M | -$71.0M+85.5% | -$490.0M+47.8% | -$938.0M-919.6% | -$92.0M+11.5% | -$104.0M+52.1% | -$217.0M-261.7% | -$60.0M-271.4% | $35.0M-57.8% | $83.0M+477.3% | -$22.0M+71.8% | -$78.0M+84.0% | -$487.0M-334.8% | -$112.0M-158.6% | $191.0M+24.8% | $153.0M |
| Investing Cash Flow | -$1.2B | -$1.2B+7.8% | -$1.3B+4.5% | -$1.4B-79.2% | -$758.0M-15.5% | -$656.0M+16.6% | -$787.0M-30.3% | -$604.0M-28.2% | -$471.0M+8.4% | -$514.0M+12.1% | -$585.0M-12.1% | -$522.0M+47.5% | -$994.0M-43.6% | -$692.0M-135.4% | -$294.0M+1.7% | -$299.0M |
| Financing Cash Flow | $177.0M | $142.0M-73.0% | $526.0M-32.4% | $778.0M+294.9% | $197.0M+343.2% | -$81.0M-118.1% | $447.0M+1541.9% | -$31.0M+60.8% | -$79.0M-58.0% | -$50.0M-300.0% | $25.0M+120.7% | -$121.0M-124.5% | $494.0M+103.3% | $243.0M+225.3% | -$194.0M-27.6% | -$152.0M |
| Dividends Paid | $236.0M | $225.0M+12.5% | $200.0M+11.7% | $179.0M+13.3% | $158.0M+5.3% | $150.0M+7.1% | $140.0M+4.5% | $134.0M+7.2% | $125.0M+5.9% | $118.0M+7.3% | $110.0M+13.4% | $97.0M+11.5% | $87.0M+3.6% | $84.0M+3.7% | $81.0M+2.5% | $79.0M |
| Share Buybacks | N/A | N/A | $0 | $0-100.0% | $18.0M+50.0% | $12.0M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
POR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 15.5%+0.6pp | 14.9%+1.3pp | 13.6%-1.4pp | 15.0%-0.8pp | 15.8%+3.2pp | 12.5%-4.1pp | 16.6%-0.8pp | 17.4%-1.5pp | 18.9%+1.2pp | 17.7% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 8.6%-0.5pp | 9.1%+1.3pp | 7.8%-1.0pp | 8.8%-1.4pp | 10.2%+2.9pp | 7.2%-2.8pp | 10.1%-0.6pp | 10.7%+1.3pp | 9.3%-0.7pp | 10.0% | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | 7.4%-0.9pp | 8.3%+1.4pp | 6.9%-1.5pp | 8.4%-0.6pp | 9.0%+3.1pp | 5.9%-2.3pp | 8.3%-0.2pp | 8.5%+0.7pp | 7.7%-0.5pp | 8.2%+0.6pp | 7.6%-1.5pp | 9.2%+3.4pp | 5.8%-2.4pp | 8.2%-0.7pp | 8.8% |
| Return on Assets | 2.3%-0.2pp | 2.5%+0.5pp | 2.0%-0.2pp | 2.2%-0.3pp | 2.6%+0.9pp | 1.7%-0.8pp | 2.5%-0.1pp | 2.6%+0.2pp | 2.4%-0.2pp | 2.6%+0.2pp | 2.4%-0.1pp | 2.5%+0.8pp | 1.7%-0.8pp | 2.5%-0.1pp | 2.6% |
| Current Ratio | 1.08+0.2x | 0.92+0.1x | 0.840.0x | 0.81-0.1x | 0.900.0x | 0.88-0.1x | 0.96+0.2x | 0.81-0.4x | 1.22+0.4x | 0.80-0.1x | 0.89+0.1x | 0.80-0.7x | 1.50+0.3x | 1.190.0x | 1.17 |
| Debt-to-Equity | 1.130.0x | 1.150.0x | 1.180.0x | 1.220.0x | 1.21+0.1x | 1.10+0.1x | 1.00+0.1x | 0.87-0.1x | 1.00+0.1x | 0.940.0x | 0.91-0.2x | 1.11+0.1x | 1.05+0.2x | 0.89-0.1x | 0.98 |
| FCF Margin | -2.0%+12.3pp | -14.2%+17.9pp | -32.1%-28.6pp | -3.5%+0.9pp | -4.3%+5.8pp | -10.1%-7.3pp | -2.8%-4.6pp | 1.8%-2.4pp | 4.1%+5.3pp | -1.1% | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
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Where Portland General Ranks
Frequently Asked Questions
What is Portland General's annual revenue?
Portland General (POR) reported $3.6B in total revenue for fiscal year 2025. This represents a 4.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Portland General's revenue growing?
Portland General (POR) revenue grew by 4.0% year-over-year, from $3.4B to $3.6B in fiscal year 2025.
Is Portland General profitable?
Yes, Portland General (POR) reported a net income of $306.0M in fiscal year 2025, with a net profit margin of 8.6%.
What is Portland General's EBITDA?
Portland General (POR) had EBITDA of $1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Portland General have?
As of fiscal year 2025, Portland General (POR) had $76.0M in cash and equivalents against $4.7B in long-term debt.
What is Portland General's operating margin?
Portland General (POR) had an operating margin of 15.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Portland General's net profit margin?
Portland General (POR) had a net profit margin of 8.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Portland General pay dividends?
Yes, Portland General (POR) paid $2.08 per share in dividends during fiscal year 2025.
What is Portland General's return on equity (ROE)?
Portland General (POR) has a return on equity of 7.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Portland General's free cash flow?
Portland General (POR) recorded an outflow of $71.0M in free cash flow during fiscal year 2025. This represents a 85.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Portland General's operating cash flow?
Portland General (POR) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Portland General's total assets?
Portland General (POR) had $13.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Portland General's capital expenditures?
Portland General (POR) invested $1.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Portland General's current ratio?
Portland General (POR) had a current ratio of 1.08 as of fiscal year 2025, which is considered adequate.
What is Portland General's debt-to-equity ratio?
Portland General (POR) had a debt-to-equity ratio of 1.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Portland General's return on assets (ROA)?
Portland General (POR) had a return on assets of 2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Portland General's Altman Z-Score?
Portland General (POR) has an Altman Z-Score of 0.99, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Portland General's Piotroski F-Score?
Portland General (POR) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Portland General's earnings high quality?
Portland General (POR) has an earnings quality ratio of 3.65x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Portland General cover its interest payments?
Portland General (POR) has an interest coverage ratio of 2.39x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Portland General?
Portland General (POR) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.