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Pinnacle West Capital $PNW

Utilities · Multi-Utilities · NYSE/NASDAQ

S&P 500 Russell 1000 Arizona
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$103.02
+1.84 (+1.82%)
As of Oct 20, 2026, 1:41 PM EDT
Price history
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Key facts

52-week range (closes)
$86.55 – $109.37 Lowest close Dec 10, 2025, highest Jul 2, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Fiscal year ends
December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since
Oct 4, 1999 · All S&P 500 changes

Pinnacle West Capital (PNW) is trading up at $103.02 (+1.82%) on NYSE/NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Utilities sector.

Pinnacle West Capital revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)
$5.34B$2.67B$0FY2016 revenue: $3.50BFY2016 net income: $442.0M · Net margin 12.6%'16FY2017 revenue: $3.57BFY2017 net income: $488.5M · Net margin 13.7%'17FY2018 revenue: $3.69BFY2018 net income: $511.0M · Net margin 13.8%'18FY2019 revenue: $3.47BFY2019 net income: $538.3M · Net margin 15.5%'19FY2020 revenue: $3.59BFY2020 net income: $550.6M · Net margin 15.3%'20FY2021 revenue: $3.80BFY2021 net income: $618.7M · Net margin 16.3%'21FY2022 revenue: $4.32BFY2022 net income: $483.6M · Net margin 11.2%'22FY2023 revenue: $4.70BFY2023 net income: $501.6M · Net margin 10.7%'23FY2024 revenue: $5.12BFY2024 net income: $608.8M · Net margin 11.9%'24FY2025 revenue: $5.34BFY2025 net income: $616.5M · Net margin 11.5%'250%5%10%15%20%FY2016 net margin: 12.6%FY2017 net margin: 13.7%FY2018 net margin: 13.8%FY2019 net margin: 15.5%FY2020 net margin: 15.3%FY2021 net margin: 16.3%FY2022 net margin: 11.2%FY2023 net margin: 10.7%FY2024 net margin: 11.9%FY2025 net margin: 11.5%
Pinnacle West Capital annual financial statements
FY2016Dec 2016FY2017Dec 2017FY2018Dec 2018FY2019Dec 2019FY2020Dec 2020FY2021Dec 2021FY2022Dec 2022FY2023Dec 2023FY2024Dec 2024FY2025Dec 2025
Income statement
Revenue$3.50B$3.57B$3.69B$3.47B$3.59B$3.80B$4.32B$4.70B$5.12B$5.34B
Growth (year over year)+0.1%+1.9%+3.5%−6.0%+3.3%+6.0%+13.7%+8.6%+9.1%+4.2%
Gross profit$2.42B$2.58B$2.62B$2.43B$2.59B$2.65B$2.70B$2.90B$3.30B$3.41B
Gross margin69.3%72.5%70.8%70.0%72.3%69.7%62.3%61.8%64.4%63.8%
Operating income$835.6M$909.8M$773.7M$672.0M$788.2M$805.3M$731.9M$824.6M$1.01B$1.07B
Operating margin23.9%25.5%21.0%19.4%22.0%21.2%16.9%17.6%19.7%20.0%
Net income$442.0M$488.5M$511.0M$538.3M$550.6M$618.7M$483.6M$501.6M$608.8M$616.5M
Net margin12.6%13.7%13.8%15.5%15.3%16.3%11.2%10.7%11.9%11.5%
EPS (diluted)$3.95$4.35$4.54$4.77$4.87$5.47$4.26$4.41$5.24$5.05
Balance sheet
Cash and equivalents$8.88M$13.9M$5.77M$10.3M$60.0M$9.97M$4.83M$4.96M$3.84M$6.60M
Total assets$16.0B$17.0B$17.7B$18.5B$20.0B$22.0B$22.7B$24.7B$26.1B$30.0B
Total liabilities$11.1B$11.9B$12.3B$12.9B$14.3B$16.0B$16.6B$18.4B$19.2B$22.9B
Long-term debt$4.02B$4.79B$4.64B$4.83B$6.31B$6.91B$7.74B$7.54B$8.06B$9.21B
Shareholders' equity$4.80B$5.01B$5.22B$5.43B$5.63B$5.91B$6.05B$6.18B$6.75B$7.05B
Cash flow
Operating cash flow$1.02B$1.12B$1.28B$956.7M$966.4M$860.0M$1.24B$1.21B$1.61B$1.81B
Capital expenditure$1.28B$1.41B$1.18B$1.19B$1.33B$1.47B$1.71B$1.85B$2.25B$2.62B
Free cash flow−$252.1M−$290.7M$99.0M−$234.7M−$360.2M−$613.5M−$466.0M−$638.7M−$639.4M−$819.5M
Dividends paid$274.2M$289.8M$308.9M$329.6M$350.6M$369.5M$378.9M$386.5M$394.7M$422.8M
Share buybacks——————$2.65M$4.09M——

From Pinnacle West Capital's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Pinnacle West Capital vs the Utilities sector and the S&P 500

Pinnacle West Capital's latest reported figures next to the median of the other 30 S&P 500 Utilities companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Pinnacle West Capital compared with the median Utilities company and the median S&P 500 company
MeasurePinnacle West CapitalUtilities (30 other S&P 500 companies)S&P 500 (502 other companies)
Revenue growth, latest fiscal year+4.2%+9.7%+7.0%
Net margin, latest fiscal year11.5%13.7%13.0%
Dividend per share, latest fiscal year$3.61$2.48$2.40
Share price change, 1 year+9.1%−7.7%+5.6%

Pinnacle West Capital: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 20, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Pinnacle West Capital included, are the last regular-session prices of October 19, 2026; the 1-year change compares that price with each company's last close on or before October 20, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 30/496, net margin 30/496, dividend per share 28/349, 1-year price change 30/490; the reasons below can overlap. 12 are left out of the price figure because our archive holds no comparable close for them; dividend medians are among the 28 sector and 349 S&P 500 companies reporting a per-share dividend. The S&P 500 price figure is the middle company's change, not the index's return.

About Pinnacle West Capital

Pinnacle West Capital Corporation is an American utility holding company that owns Arizona Public Service (APS). It is publicly traded on the New York Stock exchange and a component of the S&P 500 stock market index. APS is the largest utility company in Arizona and is regulated by the Arizona Corporation Commission (ACC).

Source: Wikipedia — Pinnacle West Capital

Headquarters
Phoenix, Arizona From SEC filings, Oct 2026

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