Pinnacle West Capital financials
$93.40+2.28%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.34B | $5.12B | $4.70B | $4.32B | $3.80B | $3.59B | $3.47B | $3.69B | $3.57B | $3.50B |
| Gross profit | $3.41B | $3.30B | $2.90B | $2.70B | $2.65B | $2.59B | $2.43B | $2.62B | $2.58B | $2.42B |
| Gross margin | 63.8% | 64.4% | 61.8% | 62.3% | 69.7% | 72.3% | 70.0% | 70.8% | 72.5% | 69.3% |
| Operating income | $1.07B | $1.01B | $824.6M | $731.9M | $805.3M | $844.5M | $694.9M | $823.5M | $934.4M | $856.0M |
| Net income | $616.5M | $608.8M | $501.6M | $483.6M | $618.7M | $550.6M | $538.3M | $511.0M | $488.5M | $442.0M |
| Net margin | 11.5% | 11.9% | 10.7% | 11.2% | 16.3% | 15.3% | 15.5% | 13.8% | 13.7% | 12.6% |
| Diluted EPS | $5.05 | $5.24 | $4.41 | $4.26 | $5.47 | $4.87 | $4.77 | $4.54 | $4.35 | $3.95 |
| EBITDA | $2.04B | $1.97B | $1.68B | $1.77B | $1.57B | $1.53B | $1.36B | $1.47B | $1.55B | $1.42B |
| Operating cash flow | $1.81B | $1.61B | $1.21B | $1.24B | $860.0M | $966.4M | $956.7M | $1.28B | $573.5M | $387.7M |
| Free cash flow | -$819.5M | -$639.4M | -$638.7M | -$466.0M | -$613.5M | -$360.2M | -$234.7M | $99.0M | -$835.3M | -$887.8M |
| Diluted shares | 122.0M | 116.2M | 113.8M | 113.4M | 113.2M | 112.9M | 112.8M | 112.6M | 112.4M | 112.0M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $6.6M | $3.8M | $5.0M | $4.8M | $10.0M | $60.0M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Total debt | $10.67B | $9.51B | $9.10B | $8.19B | $7.41B | $6.54B |
| Total assets | $30.03B | $26.10B | $24.66B | $22.72B | $22.00B | $20.02B |
| Total liabilities | $22.94B | $19.25B | $18.38B | $16.56B | $15.98B | $14.27B |
| Shareholders' equity | $7.09B | $6.86B | $6.28B | $6.16B | $6.02B | $5.75B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology