Loading…
Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using nuclear, gas, oil, coal, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables. The company also owns and maintains substations, including transmission and distribution yards; and owns energy storage facilities. Pinnacle West Capital Corporation was incorporated in 1985 and is headquartered in Phoenix, Arizona.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $5.3B | $2.1B | $617M | $-820M | 8.7% | 4.2% | 1.3% |
| 2024 | $5.1B | $2.1B | $609M | $-639M | 9.0% | 9.1% | 21.4% |
| 2023 | $4.7B | $1.8B | $502M | $-639M | 8.1% | 8.6% | 3.7% |
| 2022 | $4.3B | $1.6B | $484M | $-466M | 8.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,324.38 | 4,695.99 | 5,124.92 | 5,339.94 |
| Cost Of Revenue | - | 2,616.42 | 2,851.38 | 2,987.72 | 3,118.48 |
| Gross Profit | - | 1,707.97 | 1,844.61 | 2,137.19 | 2,221.45 |
| Operating Expense | - | 976.06 | 1,019.97 | 1,125.13 | 1,153.82 |
| Operating Income | - | 731.91 | 824.64 | 1,012.06 | 1,067.63 |
| EBITDA | - | 1,649.01 | 1,781.15 | 2,070.22 | 2,129.95 |
| EBIT | - | 831.19 | 927.02 | 1,114.03 | 1,160.34 |
| Pretax Income | - | 575.65 | 595.69 | 736.56 | 738.37 |
| Tax Provision | - | 74.83 | 76.91 | 110.53 | 106.73 |
| Net Income | - | 483.60 | 501.56 | 608.81 | 616.53 |
| Net Income Common Stockholders | - | 483.60 | 501.56 | 608.81 | 616.53 |
| Total Expenses | - | 3,592.47 | 3,871.35 | 4,112.85 | 4,272.31 |
| Interest Expense | - | 255.54 | 331.32 | 377.47 | 421.97 |
| Interest Income | - | 7.33 | 27.24 | 24.32 | 18.04 |
| Normalized EBITDA | - | 1,624.28 | 1,725.23 | 2,010.02 | 2,103.23 |
| Normalized Income | - | 462.09 | 499.12 | 590.47 | 593.67 |
| Market Cap | 12,380.92 | 12,380.92 | 12,380.92 | 12,380.92 | 12,380.92 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Pinnacle West Capital Corporationthis co. | PNW | $12.2B | 20.08↓ discount | 1.76 | 8.7% | 12.52 |
| Edison International | EIX | $28.0B | 5.64 | 1.55 | 27.5% | 6.31 |
| CenterPoint Energy, Inc. | CNP | $27.7B | 26.41 | 2.49 | 9.4% | 13.78 |
| American Water Works Company, Inc. | AWK | $25.9B | 23.28 | 2.39 | 10.3% | 14.22 |
| Eversource Energy |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| ES |
| $25.5B |
| 15.24 |
| 1.59 |
| 10.4% |
| 10.16 |
| CMS Energy Corporation | CMS | $23.6B | 21.93 | 2.63 | 12.0% | 12.49 |
| NiSource Inc. | NI | $22.8B | 24.71 | 2.43 | 9.8% | 12.83 |
| Evergy, Inc. | EVRG | $18.7B | 21.86 | 1.83 | 8.4% | 12.43 |
| Alliant Energy Corporation | LNT | $18.6B | 23.06 | 2.55 | 11.0% | 15.17 |
| Peer Median | - | 22.50 | 2.41 | 10.4% | 12.66 | |