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Portland General Electric cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$127M in Q3 2026 · −$416M over twelve months

Operating cash flow$323M
Capital spending−$450M
Free cash flow−$127M
Cash / net income2.7×

Analysis

In Q3 2026, Portland General Electric generated $323M of operating cash flow and spent $450M on capital projects, leaving free cash flow of −$127M. That is $227M less than in Q3 2025 ($100M).

Over the twelve months to Sep 30, 2026, operating cash flow was $959M; the largest uses were capital spending ($1.4B), dividends ($242M), other financing ($41.0M); besides operations, cash came from shares issued ($357M), net borrowing (+) / repaid (−) ($282M); the cash balance fell by $68.0M.

Operating cash flow was $323M against net income of $119M — 2.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$146M, payables +$73.0M, receivables −$37.0M.

Free cash flow

Portland General Electric: free cash flow by quarterPortland General Electric: free cash flow by quarter−$222MQ4 2024−$128MQ1 2025$99.0MQ2 2025$100MQ3 2025−$142MQ4 2025$9.0MQ1 2026−$156MQ2 2026−$127MQ3 2026
Operating cash flow less capital spending.
Portland General Electric: operating cash flow against capital spendingPortland General Electric: operating cash flow against capital spendingOperating cash flowCapital spending$170M$392MQ4 2024$231M$359MQ1 2025$336M$237MQ2 2025$403M$303MQ3 2025$148M$290MQ4 2025$268M$259MQ1 2026$220M$376MQ2 2026$323M$450MQ3 2026
Latest (Q3 2026): Operating cash flow $323M, Capital spending $450M.

Capital allocation, year by year

Portland General Electric: where the cash came from (up) and went (down), by fiscal yearPortland General Electric: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $532MFY2021: Net borrowing $90.0MFY2021: Asset sales $4.0MFY2021: Capital spending −$636MFY2021: Buybacks −$12.0MFY2021: Dividends −$150M$626MFY2021FY2022: Operating cash flow $674MFY2022: Net borrowing $353MFY2022: Asset sales $13.0MFY2022: Capital spending −$766MFY2022: Buybacks −$18.0MFY2022: Dividends −$158M$1.0BFY2022FY2023: Operating cash flow $420MFY2023: Net borrowing $486MFY2023: Shares issued $485MFY2023: Capital spending −$1.4BFY2023: Dividends −$179M$1.4BFY2023FY2024: Operating cash flow $778MFY2024: Net borrowing $394MFY2024: Shares issued $346MFY2024: Capital spending −$1.3BFY2024: Dividends −$200M$1.5BFY2024FY2025: Operating cash flow $1.1BFY2025: Net borrowing $140MFY2025: Shares issued $250MFY2025: Capital spending −$1.2BFY2025: Dividends −$225M$1.5BFY2025
Over these 5 years operating cash flow totalled $3.5B; the largest uses were capital spending ($5.2B) and dividends ($912M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$69.0M
Debt$4.7B
Net debt$4.6B

Portland General Electric's operations bring cash in ($959M over twelve months), and it spends more than that on capital projects: a gap of $416M funded from its $69.0M of cash and investments and from borrowing ($4.7B of debt). That is a choice to invest, not a cash runway running down.

Portland General Electric: debt maturities by year (FY2025)Portland General Electric: debt maturities by year (FY2025)$160MYear 2$100MYear 3$200MYear 4$325MYear 5$3.9BAfter year 5
Principal due in each year as disclosed in the annual report, against $69.0M of cash and investments now.

Where the cash came from and went

Portland General Electric: sources (+) and uses (−) of cash, Q3 2026Portland General Electric: sources (+) and uses (−) of cash, Q3 2026Capital spending−$450MOperating cash flow$323MOther financing$148MNet borrowing (+) / repaid (−)$80.0MDividends−$64.0MCash drawn (+) / kept (−)−$34.0MOther investing−$3.0M
Portland General Electric: sources (+) and uses (−) of cash, TTM to Q3 2026Portland General Electric: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$1.4BOperating cash flow$959MShares issued$357MNet borrowing (+) / repaid (−)$282MDividends−$242MCash drawn (+) / kept (−)$68.0MOther financing−$41.0MOther investing−$8.0M

From profit to cash

Portland General Electric: net income to operating cash flow, Q3 2026Portland General Electric: net income to operating cash flow, Q3 2026Net income$119MDepreciation & amortization$146MDeferred taxes$9.0MOther non-cash$17.0MReceivables−$37.0MInventory−$1.0MPayables$73.0MPrepaid and other assets−$27.0MOther operating capital$8.0MOperating cash flow$323M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$323M−$450M−$64.0M$80.0M—−$34.0M−$127M
Q2 2026$220M−$376M−$60.0M$270M$1.0M−$27.0M−$156M
Q1 2026$268M−$259M−$60.0M$9.0M—$68.0M$9.0M
Q4 2025$148M−$290M−$58.0M−$68.0M$201M$61.0M−$142M
Q3 2025$403M−$303M−$58.0M—$49.0M−$81.0M$100M
Q2 2025$336M−$237M−$54.0M——−$45.0M$99.0M
Q1 2025$231M−$359M−$55.0M$208M—$1.0M−$128M
Q4 2024$170M−$392M−$52.0M$90.0M$168M$23.0M−$222M

Portland General Electric: income statement and cash flow

Portland General Electric, Q3 2026: revenue $971M (+2% year over year), operating margin 19.3%. The chart follows the revenue to costs, profit and cash.

Portland General Electric: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.