PNW · Pinnacle West Capital Corp · Financials

$103.42 +1.84 (+1.81%) At close · Oct 16

S&P 500 member Russell 1000 member Rebalance outlook locked

Market Cap

$12.53B

121.20M

Volume · Oct 16 1.03M Avg daily vol (3M) 1.21M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

Pull these statements through the financial statements API or MCP →

Revenue

$5.34B +4.2%

FY2025

Net Income

$631.64M +0.9%

FY2025

Gross Margin

70.85% -1.6pp

FY2018

Operating Margin

19.99% +0.2pp

FY2025

Diluted EPS

$5.05 -3.6%

FY2025

Operating Cash Flow

$1.81B +12.1%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	FY2026 (G)	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Revenue	+7.3%	+8.3%	+4.3%	—	$5.55B	$5.34B	$5.12B	$4.7B^G	$4.32B	$3.8B	$3.59B	$3.47B	$3.69B	$3.57B	$3.5B	$3.5B	$3.49B	$3.45B	$3.3B	$3.24B	$3.19B	$3.15B	$3.22B
Cost of Revenue	—	—	—	—	$1.05B	—	—	—	—	—	—	—	$1.08B	$981.3M	$1.08B	—	—	—	—	—	—	—	—
Gross Profit	—	—	—	—	$2.51B	—	—	—	—	—	—	—	$2.62B	$2.58B	$2.42B	—	—	—	—	—	—	—	—
Gross Margin	—	—	—	—	—	—	—	—	—	—	—	—	70.85%	72.48%	69.26%	—	—	—	—	—	—	—	—
Amortization of Intangibles	+23.2%	+17.5%	+10.5%	—	—	$157M	$136M	$90M	$84M	$80M	$70M	$66M	$68M	$72M	$58M	$58M	$53M	$53M	$50M	$47M	$45M	—	—
Depreciation & Amortization	+5.8%	+7.2%	+5.4%	—	$994.64M	$969.62M	$956.18M	$854.14M	$817.81M	$719.14M	$686.25M	$664.14M	$650.96M	$610.63M	$565.01M	$571.66M	$496.49M	$492.32M	$481.26M	$493.78M	$472.81M	$450.86M	$431.67M
Impairment of Real Estate	—	—	—	—	$1.62M	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	$16.73M	$280.19M	$53.25M
Total Costs & Expenses	+5.9%	+8.8%	+4.9%	—	$4.41B	$4.27B	$4.11B	$3.87B	$3.59B	$3B	$2.8B	$2.8B	$2.92B	$2.66B	$2.66B	$2.64B	$2.68B	$2.61B	$2.45B	$2.49B	$2.47B	$2.54B	$2.64B
Operating Income	+13.4%	+6.3%	+2.3%	—	$1.14B	$1.07B	$1.01B	$824.64M	$731.91M	$805.31M	$788.15M	$671.96M	$773.69M	$909.76M	$835.61M	$854.6M	$811.24M	$846.32M	$851.76M	$746.51M	$714.88M	$616.13M	$582.65M
Operating Margin	—	—	—	—	—	19.99%	19.75%	17.56%	16.93%	21.17%	21.97%	19.36%	20.96%	25.52%	23.88%	24.45%	23.23%	24.5%	25.8%	23.03%	22.42%	19.54%	18.1%
EBITDA	+9.5%	+6.7%	+3.6%	—	$2.13B	$2.04B	$1.97B	$1.68B	$1.55B	$1.52B	$1.47B	$1.34B	$1.42B	$1.52B	$1.4B	$1.43B	$1.31B	$1.34B	$1.33B	$1.24B	$1.19B	$1.07B	$1.01B
Interest Expense	+18.2%	+13.0%	+9.0%	—	$463.25M	$421.97M	$377.47M	$331.32M	$255.54M	$233.26M	$228.97M	$216.72M	$218.29M	$197.68M	$185.75M	$178.71M	$185.49M	$187.03M	$199.65M	$223.64M	$227.7M	$227.39M	$205.37M
Interest Income	+35.0%	+8.1%	+43.3%	—	$12.43M	$18.04M	$24.32M	$27.24M	$7.33M	$6.73M	$12.21M	$10.38M	$8.65M	$3.5M	$884K	$493K	$1.01M	$1.63M	$1.24M	$1.85M	$3.26M	$1.5M	—
Other Non-Operating Income	-2.3%	+0.8%	+17.8%	—	$84.91M	$92.71M	$101.97M	$102.38M	$99.28M	$173.98M	$89.04M	$86.8M	$109.04M	$54.14M	$48.08M	$18.01M	$18.65M	$11.26M	$4.2M	$16.37M	$18.53M	$5.86M	-$3.4M
Investment Income (Loss)	—	+62.5%	—	—	$17.83M	$26.72M	$0	$0	$0	$0	$2.36M	—	$16.15M	$354K	$0	—	$8.39M	$0	—	—	—	—	—
Pretax Income	—	—	—	—	—	$738.37M	$736.56M	$595.69M	—	—	—	—	—	—	—	—	$644.4M	$670.56M	$656.31M	$539.24M	$505.72M	$394.6M	—
Income Tax	+12.6%	+6.4%	-7.7%	—	$110.36M	$106.73M	$110.53M	$76.91M	$74.83M	$110.09M	$78.17M	-$15.77M	$133.9M	$258.27M	$236.41M	$237.72M	$220.71M	$230.59M	$237.32M	$183.6M	$160.87M	$138.55M	$95.54M
Net Income	+8.0%	+2.1%	+3.3%	—	$650.99M	$631.64M	$626.03M	$518.78M	$500.83M	$635.94M	$570.05M	$557.81M	$530.54M	$507.95M	$461.53M	$456.19M	$423.7M	$439.97M	$413.16M	$366.94M	$350.05M	$68.33M	$242.13M
Net Margin	—	—	—	—	—	11.83%	12.22%	11.05%	11.58%	16.72%	15.89%	16.07%	14.37%	14.25%	13.19%	13.05%	12.13%	12.74%	12.51%	11.32%	10.98%	2.17%	7.52%
Net Income Attributable to Noncontrolling Interests	-4.3%	-5.0%	-2.2%	—	$10.89M	$15.11M	$17.22M	$17.22M	$17.22M	$17.22M	$19.49M	$19.49M	$19.49M	$19.49M	$19.49M	$18.93M	$26.1M	$33.89M	$31.62M	$27.47M	$20.16M	$4.43M	$17.5M
Net Income Available to Common Stockholders	+8.4%	+2.3%	+3.5%	—	$640.11M	$616.53M	$608.81M	$501.56M	$483.6M	$618.72M	$550.56M	$538.32M	$511.05M	$488.46M	$442.03M	$437.26M	$397.6M	$406.07M	$381.54M	$339.47M	$350.05M	$68.33M	—
Comprehensive Income	+6.7%	+2.5%	+2.9%	—	$639.51M	$615.07M	$611.01M	$499.85M	$507.03M	$626.66M	$544.86M	$528.93M	$516.89M	$487.28M	$442.96M	$460.65M	$407.51M	$442.03M	$419.7M	$347.08M	$321.87M	—	—
EPS (Basic) USD/shares	+6.4%	+1.0%	+2.7%	—	$5.32	$5.15	$5.35	$4.42	$4.27	$5.48	$4.89	$4.79	$4.56	$4.37	$3.97	$3.94	$3.59	$3.69	$3.48	$3.11	$3.28	$0.68	$2.40
EPS (Diluted) USD/shares	+5.8%	+0.7%	+2.6%	$4.55 – $4.75	$5.21	$5.05^G	$5.24^G	$4.41^G	$4.26^G	$5.47^G	$4.87^G	$4.77	$4.54	$4.35	$3.95	$3.92	$3.58	$3.66	$3.45	$3.09	$3.27	$0.67	$2.40
Shares Outstanding (Basic Avg) shares	+1.9%	+1.2%	+0.8%	—	—	119.69M	113.85M	113.44M	113.2M	112.91M	112.67M	112.44M	112.13M	111.84M	111.41M	111.03M	110.63M	109.98M	109.51M	109.05M	106.57M	101.16M	100.69M
Shares Outstanding (Diluted Avg) shares	+2.5%	+1.6%	+0.9%	—	—	121.97M	116.23M	113.8M	113.42M	113.19M	112.94M	112.76M	112.55M	112.37M	112.05M	111.55M	111.18M	110.81M	110.53M	109.86M	107.14M	101.26M	100.97M

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2008–FY2025: $6.75M in buybacks, $5.32B in dividends.

Debt Profile

Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.

Reported debt balances

Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.

Reported balance	As of	Amount	Source
Debt and lease obligations	2026-06-30	USD 10,550,808,000	10-Q filed 2026-08-04
Related accounting measures — not additional borrowing Carrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year. Current portion of long-term debt USD 775,000,000 Noncurrent debt carrying amount USD 9,775,808,000
Operating lease liabilities	2026-06-30	USD 5,135,887,000	10-Q filed 2026-08-04
Related accounting measures — not additional borrowing Carrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year. Current operating lease liabilities USD 193,207,000 Noncurrent operating lease liabilities USD 4,942,680,000
Short-term borrowings	2026-06-30	USD 818,600,000	10-Q filed 2026-08-04

2 filing observations remain unmatched and are excluded from instrument histories.

Instrument and agreement coverage is incomplete. Additional filings are awaiting review.

Covenants

Covenant terms have not yet been verified for this profile.

The balance figures do not establish whether covenants apply or whether the company complies with them.

Loans, facilities and notes

The instrument breakdown is not yet verified. Read the debt note in the linked report for borrowing terms and maturity conditions.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

4.15×

Peer median 4.87×

EV/EBIT

20.25×

Peer median 22.34×

P/E (TTM)

19.85×

Peer median 20.85×

Peer medians compare against the 28 similar-size Utilities - Regulated Electric companies (of 33 listed).

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022
Reportable Segment Aggregation Before Other Operating Segment	$5,340,000,000	$5,125,000,000	$4,696,000,000	$4,324,000,000
Corporate And Other	$0	$0	$0	$0

By Product & Service (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Electric and Transmission Service	$5,319,000,000	$5,073,000,000	$4,651,000,000	$4,302,000,000	$3,760,000,000	$3,533,000,000	$3,415,000,000	$3,644,000,000
Transmission Services	$129,667,000	$119,038,000	$138,631,000	$116,628,000	$99,285,000	$65,859,000	$62,460,000	$60,261,000
Wholesale	$108,661,000	$96,857,000	$208,985,000	$383,126,000	$187,640,000	$93,345,000	—	—
Other Services	$17,355,000	$11,273,000	$10,763,000	$10,904,000	$16,646,000	$12,502,000	$16,308,000	$25,527,000

Key facts CIK 764622 CUSIP 723484101 13F (30d) 82 filings 78 filers Visit website Investor relations