PNW
Pinnacle West Capital Corp
NYSE: PNW · UTILITIES · UTILITIES - REGULATED ELECTRIC
$101.67
-1.41% today
Updated 2026-04-29
Market cap
$12.30B
P/E ratio
20.13
P/S ratio
2.30x
EPS (TTM)
$5.05
Dividend yield
3.49%
52W range
$84 – $105
Volume
1.2M
Pinnacle West Capital Corp (PNW) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.40B | $3.52B | $3.37B | $3.30B | $3.26B | $3.24B | $3.30B | $3.45B | $3.49B | $3.50B | $3.50B | $3.57B | $3.69B | $3.47B | $3.59B | $3.80B | $4.32B | $4.70B | $5.12B | $5.34B |
| Revenue growth (YoY) | — | +3.6% | -4.4% | -2.1% | -1.0% | -0.7% | +1.9% | +4.6% | +1.1% | +0.1% | +0.1% | +1.9% | +3.5% | -6.0% | +3.3% | +6.0% | +13.7% | +8.6% | +9.1% | +4.2% |
| Cost of revenue | $1.25B | $1.44B | $1.43B | $1.18B | $1.92B | $1.91B | $1.88B | $2.02B | $2.09B | $1.97B | $2.01B | $1.93B | $2.11B | $1.98B | $1.95B | $2.11B | $2.62B | $2.85B | $2.99B | $3.98B |
| Gross profit | $2.15B | $2.09B | $1.88B | $1.98B | $1.27B | $1.33B | $1.42B | $1.43B | $1.40B | $1.53B | $1.49B | $1.63B | $1.58B | $1.49B | $1.63B | $1.70B | $1.71B | $1.84B | $2.14B | $1.36B |
| Gross margin | 63.2% | 59.3% | 55.9% | 59.9% | 39.0% | 41.0% | 43.1% | 41.5% | 40.2% | 43.7% | 42.6% | 45.9% | 42.8% | 42.8% | 45.6% | 44.6% | 39.5% | 39.3% | 41.7% | 25.4% |
| R&D | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — | — |
| SG&A | — | — | — | — | $0.00 | $0.00 | $0.00 | $172.16M | $175.18M | $176.74M | $20.37M | $191.01M | $222.35M | $224.47M | $232.12M | $241.03M | — | — | — | — |
| Operating income | $618.87M | $619.25M | $505.21M | $616.13M | $714.88M | $746.51M | $851.75M | $846.32M | $811.24M | $854.60M | $835.61M | $909.76M | $773.69M | $671.96M | $788.15M | $805.31M | $731.91M | $824.64M | $1.01B | $1.12B |
| Operating margin | 18.2% | 17.6% | 15.0% | 18.7% | 21.9% | 23.0% | 25.8% | 24.5% | 23.2% | 24.4% | 23.9% | 25.5% | 21.0% | 19.4% | 22.0% | 21.2% | 16.9% | 17.6% | 19.7% | 20.9% |
| EBITDA | $1.27B | $1.02B | $929.03M | $1.07B | $1.21B | $1.26B | $1.34B | $1.35B | $1.33B | $1.44B | $1.45B | $1.57B | $1.53B | $1.42B | $1.56B | $1.70B | $1.65B | $1.78B | $2.07B | $2.13B |
| EBITDA margin | 37.4% | 29.0% | 27.6% | 32.5% | 37.0% | 38.8% | 40.5% | 39.1% | 38.0% | 41.3% | 41.4% | 44.2% | 41.5% | 41.0% | 43.6% | 44.7% | 38.1% | 37.9% | 40.4% | 39.9% |
| EBIT | $618.87M | $619.25M | $505.06M | $621.99M | $733.41M | $762.88M | $855.96M | $857.58M | $829.89M | $872.62M | $883.69M | $963.90M | $882.73M | $758.76M | $877.20M | $979.29M | $831.19M | $927.02M | $1.11B | $1.16B |
| Interest expense | $196.83M | $212.62M | $197.47M | $223.11M | $227.63M | $223.64M | $199.65M | $187.03M | $185.49M | $178.71M | $185.75M | $197.68M | $218.28M | $216.72M | $228.97M | $233.26M | $255.54M | $331.32M | $377.47M | $421.97M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $327.25M | $307.14M | $242.13M | $68.33M | $350.05M | $339.47M | $381.54M | $406.07M | $397.60M | $437.26M | $442.03M | $488.46M | $511.05M | $538.32M | $550.56M | $618.72M | $483.60M | $501.56M | $608.81M | $616.53M |
| Net income growth (YoY) | — | -6.1% | -21.2% | -71.8% | +412.3% | -3.0% | +12.4% | +6.4% | -2.1% | +10.0% | +1.1% | +10.5% | +4.6% | +5.3% | +2.3% | +12.4% | -21.8% | +3.7% | +21.4% | +1.3% |
| Profit margin | 9.6% | 8.7% | 7.2% | 2.1% | 10.7% | 10.5% | 11.6% | 11.8% | 11.4% | 12.5% | 12.6% | 13.7% | 13.8% | 15.5% | 15.3% | 16.3% | 11.2% | 10.7% | 11.9% | 11.5% |