A Business at a Glance
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Pinnacle West Pinnacle West is an investor-owned electric utility holding company based in Phoenix, Arizona with consolidated assets of approximately $30 billion. We derive essentially all of our revenues and earnings from our principal subsidiary, APS. Since 1886, APS and its affiliates have provided energy and energy-related products to people and businesses throughout Arizona. APS is Arizona’s largest and longest-serving electric company and generates safe, affordable electricity in 11 of Arizona’s 15 counties. Our other active subsidiaries are El Dorado and PNW Power. Our reportable business segment is our regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission, and distribution. Our reportable business segment activities are conducted primarily through our wholly-owned subsidiary, APS.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Electric and Transmission Service | $3.76B | $4.30B | $4.65B | $5.07B | $5.32B | 50% |
Non-Residential | $1.59B | $1.77B | $2.05B | $2.33B | $2.54B | 24% |
Residential | $1.91B | $2.05B | $2.29B | $2.56B | $2.54B | 24% |
Transmission Services for Others | $99M | $117M | $139M | $119M | $130M | 1% |
Wholesale Energy Sales | $188M | $383M | $209M | $97M | $109M | 1% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 5.3B | 5.3B | 5.1B | 4.7B | 4.3B | 3.8B |
| Net Income | 617M | 617M | 609M | 502M | 484M | 619M |
| EPS | $5.05 | $5.05 | $5.24 | $4.41 | $4.26 | $5.47 |
| Free Cash Flow | -820M | -820M | -639M | -639M | -466M | -613M |
| ROIC | 5.2% | 5.4% | 5.3% | 4.7% | 4.5% | 5.2% |
| Gross Margin | 39.9% | 39.9% | 82.5% | 83.1% | 82.6% | 82.9% |
| Debt/Equity | 1.50 | 1.50 | 1.40 | 1.46 | 1.34 | 1.25 |
| Dividends/Share | $3.46 | $3.61 | $3.55 | $3.49 | $3.43 | $3.36 |
| Operating Income | 1.1B | 1.1B | 1.0B | 825M | 732M | 805M |
| Operating Margin | 20.0% | 20.0% | 19.7% | 17.6% | 16.9% | 21.2% |
| ROE | 8.7% | 8.9% | 9.0% | 8.1% | 8.0% | 10.5% |
| Shares Outstanding | 122M | 122M | 116M | 114M | 114M | 113M |
PINNACLE WEST CAPITAL CORP passes 3 of 9 quality checks, indicating weak fundamentals.
PINNACLE WEST CAPITAL CORP trades at 20.3x trailing earnings, compared to its 15-year median P/E of 14.1x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 5.0% with a gross margin of 74.2%. Total shareholder yield (dividends) is 3.4%. At current prices, the estimated annualized return to fair value is -29.3%.
PINNACLE WEST CAPITAL CORP (PNW) has a current P/E ratio of 20.3, compared to its historical median P/E of 14.1. The stock is currently considered Expensive based on its historical valuation range.
PINNACLE WEST CAPITAL CORP (PNW) has a 5-year average return on invested capital (ROIC) of 5.0%. This is below average and may indicate limited pricing power.
PINNACLE WEST CAPITAL CORP (PNW) has a market capitalization of $12.5B. It is classified as a large-cap stock.
Yes, PINNACLE WEST CAPITAL CORP (PNW) pays a dividend with a trailing twelve-month yield of 3.37%.
Based on historical P/E analysis, PINNACLE WEST CAPITAL CORP (PNW) appears expensive. The current P/E of 20.3 is 44% above its historical median of 14.1. The estimated fair value CAGR (P/E method) is 0.1%.
PINNACLE WEST CAPITAL CORP (PNW) operates in the Electric Services industry, within the Utilities sector.
PINNACLE WEST CAPITAL CORP (PNW) reported annual revenue of $5.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
PINNACLE WEST CAPITAL CORP (PNW) has a net profit margin of 11.5%. This is a healthy margin.
PINNACLE WEST CAPITAL CORP (PNW) generated $-820 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
PINNACLE WEST CAPITAL CORP (PNW) has a debt-to-equity ratio of 1.50. This indicates moderate leverage.
PINNACLE WEST CAPITAL CORP (PNW) reported earnings per share (EPS) of $5.05 in its most recent fiscal year.
PINNACLE WEST CAPITAL CORP (PNW) has a return on equity (ROE) of 8.9%. This indicates moderate shareholder returns.
PINNACLE WEST CAPITAL CORP (PNW) has a 5-year average gross margin of 74.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for PINNACLE WEST CAPITAL CORP (PNW), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PINNACLE WEST CAPITAL CORP (PNW) has a book value per share of $57.72, based on its most recent annual SEC filing.