Tearsheet

Portland General Electric (POR)


Market Price (12/29/2025): $47.25 | Market Cap: $5.2 Bil
Sector: Utilities | Industry: Electric Utilities

Portland General Electric (POR)


Market Price (12/29/2025): $47.25
Market Cap: $5.2 Bil
Sector: Utilities
Industry: Electric Utilities

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10.0%, Dividend Yield is 4.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.8%
Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -67%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 93%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%
  Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.3%
2 Low stock price volatility
Vol 12M is 20%
  Key risks
POR key risks include [1] adverse profitability impacts from Oregon Public Utility Commission decisions and state decarbonization mandates, Show more.
3 Megatrend and thematic drivers
Megatrends include Renewable Energy Transition, and Electrification of Everything. Themes include Battery Storage & Grid Modernization, Solar Energy Generation, Show more.
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10.0%, Dividend Yield is 4.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.8%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%
2 Low stock price volatility
Vol 12M is 20%
3 Megatrend and thematic drivers
Megatrends include Renewable Energy Transition, and Electrification of Everything. Themes include Battery Storage & Grid Modernization, Solar Energy Generation, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -67%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 93%
6 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.3%
7 Key risks
POR key risks include [1] adverse profitability impacts from Oregon Public Utility Commission decisions and state decarbonization mandates, Show more.

Valuation, Metrics & Events

POR Stock


Why The Stock Moved


Qualitative Assessment

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1. Strong industrial load growth from data center and semiconductor customers: Portland General Electric experienced significant demand growth, with industrial load increasing by 16.5% quarter-over-quarter in Q2 2025 and actual load increasing by 5.5% (7.3% weather-adjusted) in Q3 2025. The company also revised its 2025 load growth forecast upward, indicating robust demand for its services.

2. Better-than-expected Q3 2025 adjusted earnings per share (EPS): The company reported adjusted earnings of $1.00 per diluted share for the third quarter of 2025, surpassing analyst expectations of $0.98. This performance, despite a revenue miss, highlighted the company's operational efficiency.

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Stock Movement Drivers

Fundamental Drivers

The 10.7% change in POR stock from 9/28/2025 to 12/28/2025 was primarily driven by a 8.1% change in the company's P/E Multiple.
928202512282025Change
Stock Price ($)42.9647.5710.73%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)3488.003511.000.66%
Net Income Margin (%)8.43%8.63%2.39%
P/E Multiple16.0017.308.07%
Shares Outstanding (Mil)109.52110.17-0.59%
Cumulative Contribution10.72%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025
ReturnCorrelation
POR10.7% 
Market (SPY)4.3%6.2%
Sector (XLU)-1.4%29.8%

Fundamental Drivers

The 21.1% change in POR stock from 6/29/2025 to 12/28/2025 was primarily driven by a 22.3% change in the company's P/E Multiple.
629202512282025Change
Stock Price ($)39.2847.5721.10%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)3439.003511.002.09%
Net Income Margin (%)8.84%8.63%-2.37%
P/E Multiple14.1417.3022.33%
Shares Outstanding (Mil)109.42110.17-0.68%
Cumulative Contribution21.10%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025
ReturnCorrelation
POR21.1% 
Market (SPY)12.6%11.9%
Sector (XLU)5.9%42.4%

Fundamental Drivers

The 14.6% change in POR stock from 12/28/2024 to 12/28/2025 was primarily driven by a 37.7% change in the company's P/E Multiple.
1228202412282025Change
Stock Price ($)41.5047.5714.62%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)3341.003511.005.09%
Net Income Margin (%)10.27%8.63%-15.94%
P/E Multiple12.5617.3037.66%
Shares Outstanding (Mil)103.84110.17-6.09%
Cumulative Contribution14.20%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025
ReturnCorrelation
POR14.6% 
Market (SPY)17.0%22.9%
Sector (XLU)14.8%54.8%

Fundamental Drivers

The 9.1% change in POR stock from 12/29/2022 to 12/28/2025 was primarily driven by a 36.7% change in the company's Total Revenues ($ Mil).
1229202212282025Change
Stock Price ($)43.6047.579.10%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)2568.003511.0036.72%
Net Income Margin (%)9.66%8.63%-10.64%
P/E Multiple15.6917.3010.21%
Shares Outstanding (Mil)89.26110.17-23.42%
Cumulative Contribution3.11%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2023 to 12/28/2025
ReturnCorrelation
POR20.4% 
Market (SPY)48.4%19.4%
Sector (XLU)42.3%61.9%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
POR Return-20%28%-4%-8%5%15%9%
Peers Return16%38%-12%21%26%16%150%
S&P 500 Return16%27%-19%24%23%18%114%

Monthly Win Rates [3]
POR Win Rate50%50%58%50%58%67% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
POR Max Drawdown-38%-4%-18%-18%-9%-7% 
Peers Max Drawdown-34%-5%-26%-7%-9%-23% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See POR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique KeyEventPORS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-31.7%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven46.5%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-46.1%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven85.4%51.3%
2020 Covid PandemicTime to BreakevenTime to BreakevenNot Fully Recovered days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-21.2%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven26.9%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven273 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-53.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven115.9%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,506 days1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Portland General Electric's stock fell -31.7% during the 2022 Inflation Shock from a high on 4/6/2022. A -31.7% loss requires a 46.5% gain to breakeven.

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About Portland General Electric (POR)

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line. It has 28,206 circuit miles of distribution lines. The company also purchases and sells wholesale natural gas in the United States and Canada. It serves approximately 917 thousand residential, commercial, and industrial customers in 51 cities. The company was founded in 1889 and is headquartered in Portland, Oregon.

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  • Like the AT&T or Verizon for electricity, but serving the Portland, Oregon region.
  • The Consolidated Edison (ConEd) for electricity in the Portland, Oregon metropolitan area.
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  • Electricity Supply: Generating and procuring electrical power from diverse sources to meet the energy demands of its service area.
  • Electricity Delivery: Operating and maintaining the extensive transmission and distribution grid that reliably transports electricity from power sources to homes and businesses.
  • Customer Energy Management Programs: Providing various programs and resources to customers focused on energy efficiency, demand response, and renewable energy options.

AI Analysis | Feedback

Portland General Electric (symbol: POR) is a public utility that sells electricity primarily to individuals and businesses within its service territory in Oregon.

Its customer base can be broadly categorized into three main segments:

  • Residential: This category includes individual households and apartment dwellers who use electricity for their homes.
  • Commercial: This segment comprises various businesses, offices, retail establishments, and other non-industrial enterprises.
  • Industrial: This category includes large manufacturing facilities, data centers, and other high-energy-demand industrial operations.

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  • Energy Northwest

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Maria Pope, President & Chief Executive Officer

Maria Pope has served as President and Chief Executive Officer of Portland General Electric since October 2017, assuming the CEO role in January 2018. She initially joined PGE in 2009 as Chief Financial Officer and Treasurer. Prior to her CEO appointment, she was PGE's Senior Vice President of Power Supply, Operations, and Resource Strategy, where she oversaw the company's energy supply portfolio and long-term resource strategy, including the transition to the Western Energy Imbalance Market. Before joining PGE, Pope was the CFO of Mentor Graphics Corporation. Her career also includes senior operating and finance positions within the forest products and consumer products industries, and she began her career in banking with Morgan Stanley. Pope currently chairs the board of Columbia Banking System, Inc.

Joseph Trpik, SVP & Chief Financial Officer

Joseph Trpik was appointed Senior Vice President and Chief Financial Officer of Portland General Electric, effective June 30, 2023. He joined PGE with over two decades of senior leadership experience at Exelon, one of the largest utilities in the U.S. At Exelon, Trpik held various roles, including Senior Vice President and Chief Accounting Officer, and also served as Senior Vice President and Chief Financial Officer of Exelon Utilities and ComEd, Exelon's largest utility subsidiary. In these positions, he was responsible for financial planning and analysis, capital allocation, cost management, risk management, financial systems, accounting, tax, and investor communications. Earlier in his career, Trpik was a Senior Manager at PwC.

Benjamin Felton, EVP & Chief Operating Officer

Benjamin Felton serves as the Executive Vice President and Chief Operating Officer for Portland General Electric.

Angelica Espinosa, SVP, Chief Legal & Compliance Officer

Angelica Espinosa holds the position of Senior Vice President, Chief Legal & Compliance Officer at Portland General Electric. She has also served as the Board Chair of the PGE Foundation since 2024.

Larry Bekkedahl, SVP, Advanced Energy Delivery

Larry Bekkedahl is the Senior Vice President of Advanced Energy Delivery at Portland General Electric.

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Portland General Electric (POR) faces several key risks inherent to its operations as a regulated utility in the Pacific Northwest.

Key Risks to Portland General Electric (POR)

1. Regulatory and Compliance Risks: As a regulated electric utility, Portland General Electric's financial performance and operations are heavily influenced by federal and state regulations, including oversight by the Federal Energy Regulatory Commission (FERC) and the Oregon Public Utility Commission (OPUC). Changes in laws, regulatory decisions, and the outcomes of General Rate Cases can significantly impact allowed rates of return on equity (ROE), customer pricing, and the ability to recover power costs, operating expenses, and capital investments. Recent regulatory decisions, such as reductions in allowed ROE, underscore the sensitivity of the company's profitability to the regulatory environment. Additionally, compliance with evolving environmental laws, particularly those related to decarbonization mandates in Oregon, can lead to increased costs and liabilities.

2. Weather, Climate, and Wildfire Risks: Portland General Electric is exposed to significant risks from unseasonable or severe weather events, which are exacerbated by climate change. These events, such as heat waves, can disrupt operations, increase costs, and affect revenue. More intense weather patterns necessitate substantial investments in infrastructure to enhance reliability and resilience. A particularly pronounced risk for utilities in the Western U.S., including PGE, is the potential for financially burdensome wildfires. The company faces an outsized financial risk of potentially causing forest fires, which can result in significant financial losses and reputational harm. Fluctuations in regional rainfall and snowpack also impact hydroelectric generation, requiring increased reliance on other, potentially more costly, energy sources or wholesale market purchases.

3. Operational and Cybersecurity Risks: The inherent nature of operating complex electric generation, transmission, and distribution infrastructure presents various operational challenges. These include the risk of equipment breakdown or failure, natural disasters, and accidents. Furthermore, Portland General Electric is vulnerable to cyber-attacks and physical security breaches, which could disrupt operations, lead to financial losses, and damage the company's reputation. Maintaining a skilled workforce is also critical, and the inability to attract and retain qualified employees, or disruptions from labor negotiations, can adversely affect operations and financial results.

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Distributed Energy Resources (DERs), particularly customer-sited rooftop solar and battery storage systems.

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The primary product and service offered by Portland General Electric (POR) is the generation, transmission, distribution, and retail of electricity. Portland General Electric serves residential, commercial, and industrial customers within its service territory, which encompasses parts of seven counties and 51 cities in Oregon. This service area covers approximately 2 million Oregonians, representing nearly half of the state's population, and roughly two-thirds of Oregon's commercial and industrial activity.

The addressable market for Portland General Electric's main product and service is the electricity market within the state of Oregon. In 2024, Oregon's total electricity net generation was approximately 64,661,249 megawatt-hours (MWh). In 2020, the total electricity consumed in Oregon from both in-state and out-of-state sources was 53.7 million MWh.

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Portland General Electric (symbol: POR) is expected to experience future revenue growth over the next 2-3 years driven by several key factors:

  1. Robust Industrial Load Growth: The company is benefiting from significant increases in demand, particularly from data centers and semiconductor manufacturers within its service territory. Industrial load growth reached 13% in Q3 2025 and 16.5% in Q2 2025. This strong demand has led PGE to update its weather-adjusted 2025 load growth guidance to between 3.5% and 4.5%.
  2. Approved Rate Increases: Portland General Electric has successfully obtained regulatory approvals for price adjustments. General rate increases were implemented in January 2024, affecting residential customers by 17.2%, commercial by 15.9%, and industrial by 11%. Further rate changes, averaging 6.2% overall for customers, with a 5.5% increase for residential customers, took effect on January 1, 2025. These adjustments aim to cover rising power costs, inflation, and essential grid investments.
  3. Strategic Capital Investments in Clean Energy and Grid Modernization: PGE is undertaking substantial capital expenditure programs to enhance its infrastructure, integrate clean energy resources, and modernize its grid. The company plans to invest approximately $6.475 billion in its power sector businesses from 2025 through 2029, with significant portions allocated to transmission, distribution, and battery energy storage systems (BESS). By mid-2025, PGE anticipates having deployed over 500 MW of battery storage capacity, which supports renewable energy integration and grid reliability. These investments contribute to rate base growth, a fundamental component of utility revenue.
  4. Overall Customer Growth: In addition to specialized industrial demand, Portland General Electric continues to experience growth in its broader customer base. The company added 16,000 customers in 2024. Residential customer count increased by 1.2% in Q3 2025 and 1.6% in Q1 2025. This expansion in customer numbers contributes to a growing demand for electricity services.

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Share Repurchases

  • Portland General Electric reported share repurchases of $(3) million (250,000 shares) in 2021 and $(5) million (350,000 shares) in 2022.
  • As of June 30, 2025, quarterly stock buybacks were reported as $0.00.

Share Issuance

  • In October 2022, PGE priced an underwritten public offering of 10,100,000 shares of common stock at $43.00 per share, offered in connection with forward sale agreements.
  • In 2023, the company issued 11,615,000 shares through equity forward sales agreements, raising $485 million.
  • In March 2024, PGE issued 1,714,972 shares for net proceeds of $78 million, and in the third quarter of 2024, an additional 2,351,070 shares were issued, generating $100 million in net proceeds.
  • As of July 26, 2024, PGE entered into an equity distribution agreement authorizing the sale of up to $400 million of common stock through at-the-market offerings, though no transactions had occurred under this program as of October 25, 2024.

Capital Expenditures

  • PGE plans a US$6.5 billion capital expenditure program over the next five years (2025-2029), primarily focused on enhancing renewable energy generation and modernizing its grid infrastructure. This includes approximately $1.82 billion for transmission, $3.03 billion for distribution, and $615 million for battery energy storage systems (BESS).
  • In 2024, the company invested $1,262 million in capital projects, directed towards grid modernization, hardening and resiliency, customer growth, integration of renewable and non-emitting dispatchable capacity, and wildfire risk mitigation.
  • Capital expenditures in 2023 totaled $1,462 million, with a focus on decarbonization, customer demand growth, grid resiliency and security, and risk mitigation. The projected capital expenditures for 2025 are $1,270 million.

Better Bets than Portland General Electric (POR)

Trade Ideas

Select ideas related to POR. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PEG_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025PEGPublic Service EnterpriseMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-0.3%-0.3%-2.4%
PCG_9262025_Dip_Buyer_ValueBuy09262025PCGPG&EDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
5.5%5.5%-0.8%
AES_9052025_Dip_Buyer_ValueBuy09052025AESAESDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
10.2%10.2%-3.2%
POR_8312020_Dip_Buyer_ValueBuy08312020PORPortland General ElectricDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
12.0%40.0%-11.7%

Recent Active Movers

More From Trefis

Peer Comparisons for Portland General Electric

Peers to compare with:

Financials

PORHPQHPEIBMCSCOAAPLMedian
NamePortland.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price47.5723.2624.49305.0978.16273.4062.86
Mkt Cap5.221.932.6284.9309.24,074.4158.8
Rev LTM3,51155,29534,29665,40257,696408,62556,496
Op Inc LTM5483,6241,64411,54412,991130,2147,584
FCF LTM-1512,80062711,85412,73396,1847,327
FCF 3Y Avg-4942,9781,40011,75313,879100,5037,366
CFO LTM1,1403,6972,91913,48313,744108,5658,590
CFO 3Y Avg7563,6723,89613,49814,736111,5598,697

Growth & Margins

PORHPQHPEIBMCSCOAAPLMedian
NamePortland.HP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM5.1%3.2%13.8%4.5%8.9%6.0%5.5%
Rev Chg 3Y Avg11.1%-3.9%6.5%2.6%3.7%1.8%3.2%
Rev Chg Q2.5%4.2%14.4%9.1%7.5%9.6%8.3%
QoQ Delta Rev Chg LTM0.7%1.1%3.7%2.1%1.8%2.1%2.0%
Op Mgn LTM15.6%6.6%4.8%17.7%22.5%31.9%16.6%
Op Mgn 3Y Avg14.8%7.4%7.2%16.4%24.2%30.8%15.6%
QoQ Delta Op Mgn LTM0.7%-0.2%-1.4%0.6%0.4%0.1%0.2%
CFO/Rev LTM32.5%6.7%8.5%20.6%23.8%26.6%22.2%
CFO/Rev 3Y Avg22.8%6.8%12.7%21.4%26.1%28.4%22.1%
FCF/Rev LTM-4.3%5.1%1.8%18.1%22.1%23.5%11.6%
FCF/Rev 3Y Avg-15.9%5.5%4.6%18.6%24.6%25.6%12.1%

Valuation

PORHPQHPEIBMCSCOAAPLMedian
NamePortland.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap5.221.932.6284.9309.24,074.4158.8
P/S1.50.41.04.45.410.02.9
P/EBIT8.96.819.925.122.531.321.2
P/E17.38.6572.736.029.941.033.0
P/CFO4.65.911.221.122.537.516.2
Total Yield10.0%14.1%2.3%5.0%5.4%2.8%5.2%
Dividend Yield4.2%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg-11.0%10.6%5.5%6.4%6.0%3.1%5.7%
D/E1.00.50.70.20.10.00.4
Net D/E0.90.30.60.20.00.00.3

Returns

PORHPQHPEIBMCSCOAAPLMedian
NamePortland.HP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn-5.4%-3.6%12.7%-1.1%1.6%-2.0%-1.5%
3M Rtn10.7%-11.9%2.7%7.9%17.0%7.1%7.5%
6M Rtn21.1%-4.0%34.5%6.6%15.2%36.3%18.2%
12M Rtn14.6%-27.0%16.2%40.5%34.5%7.5%15.4%
3Y Rtn9.1%-3.7%67.3%141.3%79.6%114.1%73.5%
1M Excs Rtn-6.8%-5.6%12.9%-2.2%-0.0%-3.7%-3.0%
3M Excs Rtn6.4%-16.2%-1.7%3.6%12.7%2.8%3.2%
6M Excs Rtn8.8%-16.3%22.3%-5.7%3.0%24.0%5.9%
12M Excs Rtn-1.8%-42.9%-0.7%25.0%19.9%-8.4%-1.3%
3Y Excs Rtn-67.3%-83.5%-11.2%59.6%-1.2%28.4%-6.2%

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Generation, transmission, distribution, and retail sale of electricity2,9232,6472,3962,1452,123
Total2,9232,6472,3962,1452,123


Price Behavior

Price Behavior
Market Price$47.57 
Market Cap ($ Bil)5.2 
First Trading Date03/31/2006 
Distance from 52W High-5.4% 
   50 Days200 Days
DMA Price$47.56$42.70
DMA Trendupup
Distance from DMA0.0%11.4%
 3M1YR
Volatility18.0%20.1%
Downside Capture-20.4916.05
Upside Capture32.6626.93
Correlation (SPY)7.8%23.1%
POR Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta0.330.240.280.300.260.36
Up Beta0.230.340.420.380.240.40
Down Beta-1.61-0.09-0.04-0.180.250.26
Up Capture150%87%83%62%22%11%
Bmk +ve Days13263974142427
Stock +ve Days14284070131385
Down Capture15%-5%-1%29%34%65%
Bmk -ve Days7162452107323
Stock -ve Days6142356118363

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of POR With Other Asset Classes (Last 1Y)
 PORSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return14.6%15.2%17.8%72.1%8.6%4.4%-8.2%
Annualized Volatility19.9%15.9%19.4%19.3%15.2%17.0%35.0%
Sharpe Ratio0.570.700.722.700.340.09-0.08
Correlation With Other Assets 54.8%23.0%14.5%-2.2%56.2%-6.4%

ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of POR With Other Asset Classes (Last 5Y)
 PORSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return6.8%9.7%14.7%18.7%11.5%4.6%30.8%
Annualized Volatility20.9%17.2%17.1%15.5%18.7%18.9%48.6%
Sharpe Ratio0.260.430.700.970.500.160.57
Correlation With Other Assets 73.1%32.4%15.7%4.2%57.2%8.9%

ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of POR With Other Asset Classes (Last 10Y)
 PORSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return6.5%10.5%14.8%15.3%7.0%5.3%69.2%
Annualized Volatility24.1%19.2%18.0%14.7%17.6%20.8%55.8%
Sharpe Ratio0.270.480.710.860.320.220.90
Correlation With Other Assets 80.7%45.2%13.5%10.9%63.2%9.8%

ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity6,344,706
Short Interest: % Change Since 1130202511.9%
Average Daily Volume1,167,679
Days-to-Cover Short Interest5.43
Basic Shares Quantity110,170,000
Short % of Basic Shares5.8%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/31/2025-0.3%4.3%8.1%
7/25/20254.2%3.5%8.4%
4/25/2025-3.8%-3.3%-2.3%
2/14/2025-1.1%5.3%6.3%
10/25/2024-1.0%-2.9%-2.5%
7/26/2024-0.9%0.2%-0.3%
4/26/2024-1.0%0.5%1.1%
2/16/20240.2%1.6%0.5%
...
SUMMARY STATS   
# Positive81614
# Negative16810
Median Positive1.8%2.3%5.4%
Median Negative-1.0%-3.1%-6.0%
Max Positive4.2%5.3%13.7%
Max Negative-4.3%-9.3%-33.3%

SEC Filings

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Report DateFiling DateFiling
09/30/202510/31/202510-Q (09/30/2025)
06/30/202507/25/202510-Q (06/30/2025)
03/31/202504/25/202510-Q (03/31/2025)
12/31/202402/14/202510-K (12/31/2024)
09/30/202410/25/202410-Q (09/30/2024)
06/30/202407/26/202410-Q (06/30/2024)
03/31/202404/26/202410-Q (03/31/2024)
12/31/202302/20/202410-K (12/31/2023)
09/30/202310/27/202310-Q (09/30/2023)
06/30/202307/28/202310-Q (06/30/2023)
03/31/202304/28/202310-Q (03/31/2023)
12/31/202202/16/202310-K (12/31/2022)
09/30/202210/25/202210-Q (09/30/2022)
06/30/202207/28/202210-Q (06/30/2022)
03/31/202204/28/202210-Q (03/31/2022)
12/31/202102/17/202210-K (12/31/2021)

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Bekkedahl Larry NealSr. Vice President8262025Sell43.002,00086,0001,447,810Form
1McFarland John CarterVice President8072025Sell42.342,19092,725881,476Form
2Lewis Michael A7222025Sell40.101,93777,674541,711Form
3Felton BenjaminEVP, COO4182025Sell43.021,84579,3721,404,431Form