PNW · Pinnacle West Capital Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.15B | - | $1.82B | $1.36B | $1.03B | - | $1.77B | $1.31B | $951.71M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | $1.02B | - | $1.24B | $1.05B | $975.06M | - | $1.22B | $995.25M | $884.92M | - |
| D&A | $259.84M | - | - | - | $250.65M | - | - | - | $226.41M | - |
| Operating Income | $131.17M | - | $581.85M | $307.55M | $57.22M | - | $546.99M | $313.75M | $66.79M | - |
| Interest Expense | $115.90M | - | $111.20M | $101.97M | $86.63M | - | $87.82M | $97.86M | $86.63M | - |
| Income Tax | $1.17M | - | $77.89M | $35.02M | ($6.18M) | - | $74.23M | $32.42M | $3.89M | - |
| Net Income | $32.92M | - | $413.21M | $192.56M | ($4.64M) | - | $394.97M | $203.81M | $16.86M | - |
| EPS - Basic | $0.27 | - | $3.45 | $1.61 | ($0.04) | - | $3.47 | $1.79 | $0.15 | - |
| EPS - Diluted | $0.27 | - | $3.39 | $1.58 | ($0.04) | - | $3.37 | $1.76 | $0.15 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6.41M | $6.60M | $30.89M | $18.84M | $10.05M | $3.84M | $49.17M | $4.01M | $9.63M | $4.96M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $601.65M | $680.20M | $536.92M | $668.66M | $599.24M | $485.43M | $429.48M | $548.84M | $476.63M | $442.45M |
| Current Assets | $1.61B | $1.70B | $2.00B | $1.79B | $1.59B | $1.69B | $2.26B | $2.05B | $1.78B | $1.93B |
| Total Assets | $30.69B | $30.03B | $29.89B | $29.24B | $27.24B | $26.10B | $26.31B | $25.70B | $24.85B | $24.66B |
| Current Liabilities | $2.70B | $3.16B | $2.97B | $3.43B | $3.17B | $2.84B | $3.20B | $3.11B | $3.06B | $2.89B |
| Long-term Debt | $9.80B | $9.21B | $9.20B | $8.51B | $8.06B | $8.06B | $8.06B | $8.06B | $7.54B | $7.54B |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $7.07B | $7.05B | $7.17B | $6.73B | $6.74B | $6.75B | $6.62B | $6.21B | $6.20B | $6.18B |
| Retained Earnings | $3.88B | $3.85B | $4.05B | $3.64B | $3.66B | $3.67B | $3.88B | $3.49B | $3.48B | $3.47B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $235.30M | - | - | - | $401.89M | - | - | - | $347.35M | - |
| Investing Cash Flow | ($551.55M) | - | - | - | ($586.12M) | - | - | - | ($424.09M) | - |
| Financing Cash Flow | $316.06M | - | - | - | $190.43M | - | - | - | $81.42M | - |
| CapEx | $628.36M | - | - | - | $622.55M | - | - | - | $517.76M | - |
| Free Cash Flow | ($393.06M) | - | - | - | ($220.66M) | - | - | - | ($170.40M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 11.4% | - | 32.0% | 22.6% | 5.5% | - | 30.9% | 24.0% | 7.0% | - |
| EBITDA margin | 34.0% | - | - | - | 29.8% | - | - | - | 30.8% | - |
| Net margin | 2.9% | - | 22.7% | 14.2% | -0.4% | - | 22.3% | 15.6% | 1.8% | - |
| Free cash flow margin | -34.2% | - | - | - | -21.4% | - | - | - | -17.9% | - |
| FCF / Net income | -11.94 | - | - | - | 47.51 | - | - | - | -10.11 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 3.4% | - | 15.9% | 15.4% | - | - | 15.8% | 13.7% | 18.7% | - |
| Return on assets | 0.1% | - | 1.4% | 0.7% | -0.0% | - | 1.5% | 0.8% | 0.1% | - |
| Return on equity | 0.5% | - | 5.8% | 2.9% | -0.1% | - | 6.0% | 3.3% | 0.3% | - |
| Return on invested capital | 0.8% | - | 3.0% | 1.7% | 0.3% | - | 3.1% | 1.9% | 0.4% | - |
| Liquidity | ||||||||||
| Current ratio | 0.60 | 0.54 | 0.67 | 0.52 | 0.50 | 0.59 | 0.71 | 0.66 | 0.58 | 0.67 |
| Quick ratio | 0.60 | 0.54 | 0.67 | 0.52 | 0.50 | 0.59 | 0.71 | 0.66 | 0.58 | 0.67 |
| Cash ratio | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.02 | 0.00 | 0.00 | 0.00 |
| Leverage | ||||||||||
| Debt / Equity | 1.39 | 1.31 | 1.28 | 1.26 | 1.20 | 1.19 | 1.22 | 1.30 | 1.22 | 1.22 |
| Debt / Assets | 0.32 | 0.31 | 0.31 | 0.29 | 0.30 | 0.31 | 0.31 | 0.31 | 0.30 | 0.31 |
| Debt / EBITDA | 25.07 | - | - | - | 26.18 | - | - | - | 25.72 | - |
| Interest coverage | 1.1x | - | 5.2x | 3.0x | 0.7x | - | 6.2x | 3.2x | 0.8x | - |
| Equity multiplier | 4.34 | 4.26 | 4.17 | 4.35 | 4.04 | 3.86 | 3.98 | 4.14 | 4.01 | 3.99 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.04 | - | 0.06 | 0.05 | 0.04 | - | 0.07 | 0.05 | 0.04 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 373.1x | - | 26.4x | 56.6x | - | - | 26.3x | 43.4x | 498.2x | - |
| P / B | 1.8x | - | 1.5x | 1.6x | 1.7x | - | 1.6x | 1.4x | 1.4x | - |
| P / S | 10.8x | - | 6.0x | 8.0x | 11.0x | - | 5.9x | 6.8x | 9.0x | - |
| EV / EBITDA | 56.9x | - | - | - | 63.1x | - | - | - | 54.8x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 11.4% | - | 2.9% | 3.8% | 8.5% | - | 8.0% | 16.7% | 0.7% | - |
| Revenue CAGR (3y) | 6.8% | - | 7.4% | 8.6% | 9.6% | - | 10.6% | 9.4% | 11.0% | - |
| Revenue CAGR (5y) | 10.5% | - | 7.7% | 7.9% | 9.3% | - | 8.2% | 8.5% | 5.1% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 129.2% | - | 6.4% | -2.0% | -14.3% | - | 6.0% | 71.2% | 31.7% | - |
| Net income growth (YoY) | - | - | 4.6% | -5.5% | - | - | -0.8% | 91.1% | - | - |
| EPS growth (YoY) | - | - | 0.6% | -10.2% | - | - | -3.7% | 87.2% | - | - |
| EPS CAGR (3y) | - | - | 5.6% | 2.9% | - | - | 4.0% | -2.7% | -22.3% | - |
| EPS CAGR (5y) | -3.3% | - | 2.0% | -1.6% | - | - | 4.0% | 6.6% | -1.3% | - |
| FCF growth (YoY) | -78.1% | - | - | - | -29.5% | - | - | - | 27.0% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 4.9% | 4.3% | 8.3% | 8.3% | 8.7% | 9.3% | 3.8% | 4.1% | 2.5% | 2.1% |
Peer comparison
Same SIC group: Electric Services
Comparing PINNACLE WEST CAPITAL CORP against the 5 most active filers in the same SIC group.
Dividends
$3.63/share trailing 12 months · +1.7% YoY
| Ex-date | Per share |
|---|---|
| May 4, 2026 | $0.9100 |
| Feb 2, 2026 | $0.9100 |
| Nov 3, 2025 | $0.9100 |
| Aug 1, 2025 | $0.8950 |
| May 5, 2025 | $0.8950 |
| Feb 3, 2025 | $0.8950 |
| Nov 4, 2024 | $0.8950 |
| Aug 1, 2024 | $0.8800 |
| Apr 30, 2024 | $0.8800 |
| Jan 31, 2024 | $0.8800 |
| Oct 31, 2023 | $0.8800 |
| Jul 31, 2023 | $0.8650 |
| Apr 28, 2023 | $0.8650 |
| Jan 31, 2023 | $0.8650 |
| Oct 31, 2022 | $0.8650 |
| Jul 29, 2022 | $0.8500 |
| Apr 29, 2022 | $0.8500 |
| Jan 31, 2022 | $0.8500 |
| Nov 15, 2021 | $0.8500 |
| Jul 30, 2021 | $0.8300 |
| Apr 30, 2021 | $0.8300 |
| Jan 29, 2021 | $0.8300 |
| Oct 30, 2020 | $0.8300 |
| Jul 31, 2020 | $0.7830 |