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Arphra AIPlain-English read on Public Service Enterprise Group Incorporated’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $9.72B | $9.8B | $11.24B | $10.29B | $12.17B | $12.31B | $12.8B | $13.36B | $13.6B |
| Cost of revenue | $6.73B | $7.2B | $6.41B | $6.75B | $3.77B | $6.32B | $6.62B | $6.96B | $7.06B |
| Gross profit | $3B | $2.6B | $4.83B | $3.54B | $8.4B | $6B | $6.23B | $6.62B | $6.54B |
| Gross margin | +30.83% | +26.57% | +42.96% | +34.41% | +69.00% | +48.76% | +48.63% | +49.59% | +48.11% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | -$328M | -$376M | $218M | $0 | $0 | $77.61M | $83.05M | $87.29M | $86.92M |
| Total operating expenses | $3.85B | $1.22B | $1.14B | $1.19B | $5.42B | $2.79B | $2.77B | $2.99B | $3.05B |
| Operating income | -$856M | $1.38B | $3.69B | $2.35B | $2.98B | $3.27B | $3.35B | $3.6B | $3.56B |
| Operating margin | -8.80% | +14.09% | +32.79% | +22.87% | +24.49% | +26.54% | +26.19% | +26.96% | +26.19% |
| EBITDA | $814M | $2.85B | $5.09B | $4.04B | $4.64B | $5.04B | $5.26B | $5.48B | $5.63B |
| EBIT | -$589M | $1.57B | $3.77B | $2.67B | $3.38B | $3.51B | $3.72B | $3.93B | $3.91B |
| Below the line | |||||||||
| Interest expense | $500M | $563M | $688M | $841M | $1.01B | $898.98M | $967.11M | $992.03M | $1.02B |
| Interest income | $79M | $93M | $121M | $113M | $0 | $88.15M | $93.18M | $95.81M | $97.92M |
| Other income / expense | -$233M | -$379M | -$604M | -$528M | -$606M | — | — | — | — |
| Pre-tax income | -$1.09B | $1B | $3.08B | $1.83B | $2.37B | $2.7B | $2.82B | $2.93B | $2.99B |
| Income tax expense | -$441M | -$29M | $518M | $53M | $263M | $275.05M | $278.68M | $299.58M | $301.01M |
| Earnings | |||||||||
| Net income | -$648M | $1.03B | $2.56B | $1.77B | $2.11B | $2.34B | $2.49B | $2.58B | $2.56B |
| Net income · continuing ops | -$648M | $1.03B | $2.56B | $1.77B | $2.11B | $2.35B | $2.5B | $2.49B | $2.54B |
| Net margin | -6.67% | +10.52% | +22.81% | +17.22% | +17.35% | +19.00% | +19.42% | +19.33% | +18.83% |
| EPS · basic | $-1.29 | $2.07 | $5.15 | $3.56 | $4.23 | $4.38 | $4.77 | $5.08 | $5.42 |
| EPS · diluted | $-1.29 | $2.06 | $5.13 | $3.54 | $4.21 | $4.38 | $4.70 | $5.04 | $5.40 |
| EPS · low estimate | — | — | — | — | — | $4.34 | $4.61 | $4.99 | $4.67 |
| EPS · high estimate | — | — | — | — | — | $4.42 | $4.81 | $5.18 | $6.06 |
| Shares · basic | 504M | 498M | 498M | 498M | 499M | 500.08M | 497.37M | 495.61M | 496.11M |
| Shares · diluted | 504M | 501M | 500M | 500M | 501M | 505.44M | 504.92M | 502.05M | 504.77M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 10 | 11 | 14 | 9 |
| Analysts (EPS) | — | — | — | — | — | 14 | 14 | 7 | 2 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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