Summary - Funding Rounds

Founding Date

1951
Piedmont Natural Gas Company is a subsidiary of Duke Energy

Piedmont Natural Gas Company Income Statement

Annual

USDFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

1.6b1.4b1.1b1.3b1.5b1.4b1.1b23.6b23.8b

Revenue growth, %

15%(7%)(16%)

Cost of goods sold

6.8b

Gross profit

16.9b

Gross profit Margin, %

71%

General and administrative expense

352.9m5.8b6.5b

Operating expense total

414.3m430.6m449.7m477.3m510.3m542.3m352.9m5.8b12.2b

Depreciation and amortization

7.0m

EBIT

138.3m143.0m125.7m144.2m179.9m185.0m225.4m5.8b4.7b

EBIT margin, %

9%10%11%11%12%13%20%25%20%

Interest expense

43.7m44.0m20.1m24.9m54.7m68.6m68.6m2.0b2.1b

Interest income

659.0k1.8m1.3m2.8m1.8m3.2m

Investment income

28.9m24.0m23.9m26.1m32.8m34.5m28.6m119.0m83.0m

Pre tax profit

185.9m198.1m220.4m238.6m227.2m317.4m4.3b3.1b

Income tax expense

21.8m77.0m78.2m85.9m94.8m90.2m124.2m1.2b448.0m

Net Income

142.0m113.6m119.8m134.4m143.8m137.0m193.2m3.1b2.7b

Quarterly

USDQ3, 2010Q1, 2011Q2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Revenue

211.6m652.1m392.6m197.3m471.8m308.4m161.1m515.9m399.4m162.9m657.7m462.2m164.2m607.3m424.9m158.3m461.3m350.2m157.8m321.7m5.7b5.6b6.5b5.9b5.6b6.6b6.0b

General and administrative expense

52.0m1.4b1.4b1.4b1.5b1.4b

Operating expense total

81.4m139.1m120.0m81.6m140.4m123.2m89.0m145.4m132.4m96.4m159.2m144.2m101.6m164.3m150.5m106.3m176.8m152.5m108.1m52.0m1.4b1.4b1.4b1.5b4.7b5.1b1.4b

Depreciation and amortization

973.0m1.0b

EBIT

(3.5m)90.9m52.9m389.0k79.8m48.8m(2.5m)86.2m51.5m591.0k102.3m67.3m3.3m105.8m75.1m5.2m109.4m71.8m6.7m96.0m1.4b1.4b1.7b1.3b979.0m1.6b1.4b

EBIT margin, %

(2%)14%13%0%17%16%(2%)17%13%0%16%15%2%17%18%3%24%21%4%30%25%25%26%21%17%24%23%

Interest expense

7.8m11.0m12.9m11.4m7.2m5.7m4.1m4.5m3.3m5.7m10.6m12.0m13.1m17.7m18.1m16.7m17.1m16.6m15.7m12.0m491.0m486.0m498.0m515.0m518.0m517.0m543.0m

Interest income

31.0k168.0k470.0k711.0k61.0k581.0k267.0k448.0k742.0k667.0k250.0k1.0m862.0k630.0k631.0k673.0k329.0k936.0k708.0k

Investment income

2.6m7.8m12.4m2.4m6.3m11.7m3.3m7.2m12.4m3.7m9.9m14.4m5.0m8.3m15.8m5.8m9.2m14.6m4.2m29.0m36.0m36.0m(24.0m)43.0m

Pre tax profit

125.8m82.8m(7.5m)141.9m92.0m(5.1m)161.1m103.3m(11.9m)152.5m108.7m(13.3m)163.1m101.4m(11.2m)86.4m1.1b1.0b1.3b803.0m607.0m1.2b988.0m

Income tax expense

35.1m61.0m56.0m36.3m(2.8m)63.5m40.8m(4.6m)59.5m42.3m(5.0m)65.3m37.9m(4.5m)32.3m344.0m327.0m364.0m181.0m95.0m

Net Income

(9.5m)84.4m47.4m(8.7m)76.2m50.2m(4.6m)85.9m55.8m(2.3m)97.6m62.5m(7.3m)93.0m66.4m(8.3m)97.8m63.4m(6.7m)54.1m716.0m686.0m954.0m620.0m502.0m1.1b900.0m

Piedmont Natural Gas Company Balance Sheet

Quarterly

USDQ3, 2010Q1, 2011Q2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Cash

5.2m20.1m9.3m104.7m10.1m10.4m5.7m10.6m14.9m4.8m16.2m13.8m18.4m19.9m13.4m10.7m20.4m12.3m13.5m25.2m878.0m298.0m282.0m421.0m304.0m303.0m377.0m

Accounts Receivable

81.0m241.9m112.5m84.6m159.3m77.4m66.2m176.3m142.7m73.8m270.6m149.1m75.8m224.1m82.9m62.0m158.5m90.1m60.1m231.8m1.7b1.9b2.1b2.0b612.0m682.0m2.0b

Prepaid Expenses

29.9m4.2m15.2m28.9m4.8m18.6m23.8m5.5m13.1m29.0m9.6m18.3m33.6m10.7m18.9m24.4m10.7m15.9m19.2m8.5m425.0m436.0m433.0m422.0m976.0m

Inventories

66.2m3.4b3.4b3.3b3.1b3.2b3.1b3.1b

Current Assets

275.6m510.4m250.9m358.9m430.3m275.5m289.1m455.7m306.8m276.6m559.0m327.2m308.4m495.5m229.8m222.3m421.9m279.0m270.0m474.9m8.0b7.7b7.7b8.3b8.5b9.5b9.2b

PP&E

627.0k509.0k490.0k471.0k443.0k433.0k424.0k407.0k399.0k390.0k375.0k368.0k362.0k349.0k343.0k338.0k327.0k321.0k316.0k4.8b

Goodwill

48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m48.9m19.4b19.4b19.4b19.4b19.4b19.3b19.3b

Total Assets

3.0b3.3b3.1b3.2b3.5b3.4b3.6b4.0b4.0b4.2b4.7b4.6b4.7b5.0b4.9b5.0b5.5b5.5b5.6b5.9b134.1b135.0b136.3b138.5b140.3b143.2b151.1b

Accounts Payable

72.7m134.5m64.0m67.8m104.4m75.9m87.8m123.5m113.1m81.4m174.2m98.4m85.2m119.9m75.8m88.1m121.0m85.6m93.8m152.6m2.2b2.2b2.6b2.4b2.7b3.2b2.5b

Short-term debt

122.0m315.5m103.5m269.5m457.5m80.0m200.0m100.0m100.0m100.0m570.0m370.0m490.0m40.0m40.0m40.0m365.0m5.5b7.0b4.4b6.9b2.9b3.5b5.5b

Current Liabilities

356.0m653.9m555.6m488.3m692.0m279.4m398.3m886.6m658.3m786.6m882.9m659.5m741.1m782.9m507.0m646.8m797.1m652.9m481.2m729.8m10.9b12.5b10.8b13.0b12.8b13.9b12.3b

Long-term debt

732.0m671.9m475.0m735.0m675.0m975.0m975.0m875.0m875.0m875.0m1.2b1.2b1.2b1.4b1.4b1.4b1.5b1.5b1.8b1.8b47.0b46.0b48.9b49.0b49.9b50.5b55.2b

Non-Current Liabilities

898.6m948.3m980.3m1.0b1.1b1.1b1.1b1.2b1.3b1.3b1.4b1.4b1.4b1.5b1.5b1.5b1.7b1.7b1.8b

Total Debt

854.0m987.4m578.5m1.0b1.1b1.1b1.2b975.0m975.0m975.0m1.2b1.2b1.2b1.4b1.4b1.4b1.5b1.5b1.8b2.2b49.0b49.5b51.4b53.0b52.7b54.0b56.2b

Common Stock

440.5m431.4m436.3m441.3m424.7m431.1m436.8m450.2m549.4m555.9m616.0m623.3m629.9m645.7m653.3m660.7m732.1m739.2m744.1m859.8m1.0m1.0m1.0m1.0m1.0m1.0m1.0m

Preferred Stock

974.0m

Additional Paid-in Capital

38.7b38.8b38.8b38.8b39.7b39.7b40.8b

Retained Earnings

549.1m584.0m610.6m581.1m605.9m634.6m608.4m649.1m681.5m655.8m700.7m738.3m706.0m739.8m780.3m746.0m776.8m812.7m778.4m812.4m2.5b2.6b2.9b3.0b2.9b3.3b3.4b

Total Equity

988.8m1.0b1.0b1.0b1.0b1.1b1.0b1.1b1.2b1.2b1.3b1.4b1.3b1.4b1.4b1.4b1.5b1.6b1.5b1.7b41.2b41.3b41.6b41.8b42.5b43.0b45.0b

Debt to Equity Ratio

0.9 x1 x0.6 x1 x1.1 x1 x1.1 x0.9 x0.8 x0.8 x0.9 x0.9 x0.9 x1 x1 x1 x1 x1 x1.2 x1.3 x1.2 x1.2 x1.2 x1.3 x1.2 x

Debt to Assets Ratio

0.3 x0.3 x0.2 x0.3 x0.3 x0.3 x0.3 x0.2 x0.2 x0.2 x0.2 x0.3 x0.3 x0.3 x0.3 x0.3 x0.3 x0.3 x0.3 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x

Financial Leverage

3 x3.2 x2.9 x3.1 x3.4 x3.2 x3.4 x3.7 x3.3 x3.4 x3.6 x3.4 x3.5 x3.6 x3.4 x3.5 x3.7 x3.5 x3.7 x3.6 x3.3 x3.3 x3.3 x3.3 x3.3 x3.3 x3.4 x

Piedmont Natural Gas Company Cash Flow

Quarterly

USDQ3, 2010Q1, 2011Q2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Net Income

(9.5m)84.4m47.4m(8.7m)76.2m50.2m(4.6m)85.9m55.8m(2.3m)97.6m160.1m152.8m93.0m159.4m151.1m97.8m161.2m154.5m54.1m716.0m1.4b2.4b620.0m1.1b2.2b900.0m

Depreciation and Amortization

26.0m27.3m28.4m31.8m62.9m95.6m34.8m69.3m104.5m36.5m73.3m110.5m25.3m991.0m2.0b3.0b1.1b2.3b3.4b1.2b

Accounts Receivable

276.6m(156.5m)(183.6m)(287.9m)(74.4m)15.4m(240.4m)(18.1m)18.4m(166.9m)(32.5m)10.3m(157.5m)343.0m293.0m80.0m64.0m(27.0m)(288.0m)388.0m

Inventories

(3.5m)(14.1m)(5.9m)7.9m24.2m(5.2m)(5.0m)29.7m20.3m7.1m36.2m26.3m(10.6m)155.0m153.0m248.0m101.0m70.0m104.0m(31.0m)

Accounts Payable

68.3m17.2m19.4m63.2m(5.0m)(9.7m)31.7m(16.5m)(20.7m)13.5m(28.8m)(12.0m)34.6m(463.0m)(505.0m)(554.0m)(327.0m)(142.0m)389.0m(636.0m)

Cash From Operating Activities

21.2m24.6m12.6m48.9m382.8m414.0m21.6m364.3m373.2m(4.1m)255.7m312.1m(24.5m)1.3b2.8b5.0b1.4b3.3b5.7b1.2b

Purchases of PP&E

(38.2m)(98.1m)(137.2m)(125.0m)(236.8m)(348.4m)(104.1m)(204.3m)(308.6m)(112.3m)(254.1m)(379.7m)(113.3m)(2.2b)(3.9b)(5.8b)(2.1b)(2.5b)

Cash From Investing Activities

(40.4m)(104.6m)(153.0m)(138.4m)(257.0m)(385.3m)(116.2m)(222.0m)(329.9m)(120.9m)(263.5m)(402.8m)(124.8m)(2.4b)(4.3b)(6.4b)(2.3b)(4.6b)(7.3b)(2.7b)

Short-term Borrowings

(648.0m)(155.5m)(10.0m)(7.0m)(32.0m)(237.0m)(50.0m)(239.0m)

Long-term Borrowings

(18.0k)(100.0m)(100.0m)(100.0m)(40.0m)(408.0m)(1.0b)(2.0b)(487.0m)(1.2b)

Dividends Paid

(20.3m)(21.0m)(21.7m)(24.1m)(49.1m)(74.1m)(25.2m)(51.2m)(77.2m)(26.7m)(54.3m)(81.9m)(600.0m)(1.2b)(1.8b)(599.0m)(1.2b)(1.8b)(649.0m)

Cash From Financing Activities

33.6m83.3m149.0m97.7m(120.0m)(18.4m)104.8m(138.6m)(42.3m)131.7m6.3m90.5m157.9m1.6b1.5b1.2b947.0m1.3b1.5b1.4b

Net Change in Cash

14.5m3.3m8.6m8.2m5.8m10.4m10.3m3.7m1.0m6.7m(1.4m)(257.0k)8.6m486.0m(94.0m)(110.0m)74.0m(41.0m)

Interest Paid

20.6m22.4m25.1m33.3m56.0m22.6m35.5m58.1m22.9m40.1m64.4m11.0m

Income Taxes Paid

2.0m790.0k200.0k4.4m6.8m848.0k1.4m2.5m1.9m3.2m3.3m

Free Cash Flow

(1.1b)(1.1b)

Piedmont Natural Gas Company Employee Rating

4.045 votes
Culture & Values
4.1
Work/Life Balance
3.8
Senior Management
3.7
Salary & Benefits
4.2
Career Opportunities
3.6
Source