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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.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 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 | 2025 |
|---|---|
| Total Revenue | 5,339.94 |
| Operating Revenue | 5,339.94 |
| Cost Of Revenue | 3,118.48 |
| Gross Profit | 2,221.45 |
| Operating Expense | 1,153.82 |
| Total Expenses | 4,272.31 |
| Operating Income | 1,067.63 |
| Total Operating Income As Reported | 1,067.63 |
| EBITDA | 2,129.95 |
| Normalized EBITDA | 2,103.23 |
| EBIT | 1,160.34 |
| Interest Income | 18.04 |
| Interest Expense | 421.97 |
| Net Interest Income | -403.93 |
| Other Non Operating Income Expenses | 47.95 |
| Other Income Expense | 74.67 |
| Interest Income Non Operating | 18.04 |
| Interest Expense Non Operating | 421.97 |
| Net Non Operating Interest Income Expense | -403.93 |
| Pretax Income | 738.37 |
| Tax Provision | 106.73 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 3.86 |
| Net Income Continuous Operations | 631.64 |
| Net Income From Continuing And Discontinued Operation | 616.53 |
| Net Income From Continuing Operation Net Minority Interest | 616.53 |
| Net Income | 616.53 |
| Net Income Common Stockholders | 616.53 |
| Net Income Including Noncontrolling Interests | 631.64 |
| Normalized Income | 593.67 |
| Diluted NI Availto Com Stockholders | 616.53 |
| Basic Average Shares | 119.69 |
| Diluted Average Shares | 121.97 |
| Reconciled Depreciation | 969.62 |
| Reconciled Cost Of Revenue | 3,064.21 |
| Total Unusual Items | 26.72 |
| Total Unusual Items Excluding Goodwill | 26.72 |
| Minority Interests | -15.11 |
| Special Income Charges | 0 |
| Gain On Sale Of Business | 0 |
| Other Special Charges | - |
| Gain On Sale Of Security | 26.72 |
| Depreciation Amortization Depletion Income Statement | 915.34 |
| Depreciation And Amortization In Income Statement | 915.34 |
| Other Operating Expenses | 3.68 |
| Other Taxes | 234.80 |
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 | 19.75 | 1.73 | 8.7% | 12.43 |
| FirstEnergy Corp. | FE | $26.4B | 25.88 | 2.11 | 8.2% | 12.43 |
| Eversource Energy | ES | $26.3B | 15.53 | 1.62 | 10.4% | 10.25 |
| American Water Works Company, Inc. | AWK | $23.9B | 21.49 | 2.20 | 10.3% | 13.54 |
| NiSource Inc. | NI |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $22.0B |
| 23.65 |
| 2.33 |
| 9.8% |
| 12.50 |
| CMS Energy Corporation | CMS | $21.7B | 20.29 | 2.44 | 12.0% | 11.97 |
| Evergy, Inc. | EVRG | $18.9B | 22.06 | 1.85 | 8.4% | 12.50 |
| Alliant Energy Corporation | LNT | $18.4B | 22.76 | 2.51 | 11.0% | 15.05 |
| The AES Corporation | AES | $10.5B | 11.54 | 2.59 | 22.4% | 13.28 |
| Peer Median | - | 21.78 | 2.26 | 10.4% | 12.50 | |