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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $5.34B | $5.12B | $4.70B | $4.32B | $3.80B | $3.59B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - |
| Total Operating Expenses | $4.27B | $4.11B | $3.87B | $3.59B | $3.00B | $2.80B |
| D&A | $969.62M | $956.18M | $854.14M | $817.81M | $719.14M | $686.25M |
| Operating Income | $1.07B | $1.01B | $824.64M | $731.91M | $805.31M | $788.15M |
| Interest Expense | $421.97M | $377.47M | $331.32M | $255.54M | $233.26M | $228.97M |
| Income Tax | $106.73M | $110.53M | $76.91M | $74.83M | $110.09M | $78.17M |
| Net Income | $616.53M | $608.81M | $501.56M | $483.60M | $618.72M | $550.56M |
| EPS - Basic | $5.15 | $5.35 | $4.42 | $4.27 | $5.48 | $4.89 |
| EPS - Diluted | $5.05 | $5.24 | $4.41 | $4.26 | $5.47 | $4.87 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $6.60M | $3.84M | $4.96M | $4.83M | $9.97M | $59.97M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $680.20M | $485.43M | $442.45M | $430.43M | $393.08M | $318.58M |
| Current Assets | $1.70B | $1.69B | $1.93B | $1.75B | $1.55B | $1.20B |
| Total Assets | $30.03B | $26.10B | $24.66B | $22.72B | $22.00B | $20.02B |
| Current Liabilities | $3.16B | $2.84B | $2.89B | $1.76B | $1.76B | $1.36B |
| Long-term Debt | $9.21B | $8.06B | $7.54B | $7.74B | $6.91B | $6.31B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $7.05B | $6.75B | $6.18B | $6.05B | $5.91B | $5.63B |
| Retained Earnings | $3.85B | $3.67B | $3.47B | $3.36B | $3.26B | $3.03B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.81B | $1.61B | $1.21B | $1.24B | $860.01M | $966.37M |
| Investing Cash Flow | ($2.38B) | ($1.93B) | ($1.69B) | ($1.62B) | ($1.39B) | ($1.28B) |
| Financing Cash Flow | $576.35M | $322.69M | $486.68M | $371.47M | $476.92M | $361.14M |
| CapEx | $2.62B | $2.25B | $1.85B | $1.71B | $1.47B | $1.33B |
| Free Cash Flow | ($819.52M) | ($639.37M) | ($638.67M) | ($466.05M) | ($613.46M) | ($360.22M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 20.0% | 19.7% | 17.6% | 16.9% | 21.2% | 22.0% |
| EBITDA margin | 38.2% | 38.4% | 35.7% | 35.8% | 40.1% | 41.1% |
| Net margin | 11.5% | 11.9% | 10.7% | 11.2% | 16.3% | 15.3% |
| Free cash flow margin | -15.3% | -12.5% | -13.6% | -10.8% | -16.1% | -10.0% |
| FCF / Net income | -1.33 | -1.05 | -1.27 | -0.96 | -0.99 | -0.65 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 14.8% | 15.4% | 13.3% | 13.4% | 15.1% | 12.4% |
| Return on assets | 2.1% | 2.3% | 2.0% | 2.1% | 2.8% | 2.7% |
| Return on equity | 8.7% | 9.0% | 8.1% | 8.0% | 10.5% | 9.8% |
| Return on invested capital | 5.6% | 5.8% | 5.2% | 4.6% | 5.3% | 5.8% |
| Liquidity | ||||||
| Current ratio | 0.54 | 0.59 | 0.67 | 0.99 | 0.88 | 0.88 |
| Quick ratio | 0.54 | 0.59 | 0.67 | 0.99 | 0.88 | 0.88 |
| Cash ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.04 |
| Leverage | ||||||
| Debt / Equity | 1.31 | 1.19 | 1.22 | 1.28 | 1.17 | 1.12 |
| Debt / Assets | 0.31 | 0.31 | 0.31 | 0.34 | 0.31 | 0.32 |
| Debt / EBITDA | 4.52 | 4.09 | 4.49 | 5.00 | 4.54 | 4.28 |
| Interest coverage | 2.5x | 2.7x | 2.5x | 2.9x | 3.5x | 3.4x |
| Equity multiplier | 4.26 | 3.86 | 3.99 | 3.76 | 3.73 | 3.55 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.18 | 0.20 | 0.19 | 0.19 | 0.17 | 0.18 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 17.6x | 16.2x | 16.3x | 17.8x | 12.9x | 16.4x |
| P / B | 1.5x | 1.5x | 1.3x | 1.4x | 1.4x | 1.6x |
| P / S | 2.0x | 1.9x | 1.7x | 2.0x | 2.1x | 2.5x |
| EV / EBITDA | 9.8x | 9.1x | 9.4x | 10.6x | 9.8x | 10.4x |
| Growth | ||||||
| Revenue growth (YoY) | 4.2% | 9.1% | 8.6% | 13.7% | 6.0% | 3.3% |
| Revenue CAGR (3y) | 7.3% | 10.4% | 9.4% | 7.6% | 1.0% | 0.2% |
| Revenue CAGR (5y) | 8.3% | 8.1% | 4.9% | 3.9% | 1.7% | 0.5% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 5.5% | 22.7% | 12.7% | -9.1% | 2.2% | 17.3% |
| Net income growth (YoY) | 1.3% | 21.4% | 3.7% | -21.8% | 12.4% | 2.3% |
| EPS growth (YoY) | -3.6% | 18.8% | 3.5% | -22.1% | 12.3% | 2.1% |
| EPS CAGR (3y) | 5.8% | -1.4% | -3.3% | -3.7% | 6.4% | 3.8% |
| EPS CAGR (5y) | 0.7% | 1.9% | -0.6% | -0.4% | 6.7% | 4.4% |
| FCF growth (YoY) | -28.2% | -0.1% | -37.0% | 24.0% | -70.3% | -53.5% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 4.3% | 9.3% | 2.1% | 2.4% | 4.8% | 3.7% |
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✗Asset turnover improved
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 |