Pinnacle West Capital Corporation

PNW Utilities Utilities Regulated Electric

Pinnacle West Capital Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.3 billion, up 4.20% from fiscal 2024. In the quarter to June 2026, revenue grew 7.14%, EPS fell 8.70%, free cash flow grew 36.8% and total debt rose 10.8%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five.

103.57 1.99 +1.96%
Market cap
$12.3B
P/E
19.5×
Fwd P/E
21.9×
Dividend yield
3.51%
F-score
3/9
Altman Z
0.69
Beneish M
−2.46
Dividend safety
40/100

Pinnacle West Capital Corporation 10-Q filed Aug 4, 2026

Fiscal Q2 2026 · Period ended Jun 30, 2026 · Filed · accepted 8:20 AM ET · Document on sec.gov · Filing index

What changed

Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed May 4, 2026: 28 added · 3 removed · 54 modified; 22 with only figures updated; 1 moved without change

  1. Modified · Reliable

    Additional Currently, additional natural gas capacity is necessary to support reliable service and meet increasing energy needs. However, at this time existing natural gas pipelines into Arizona are currentlyfully committed. As a result, in July 2025, APS executed a gas transportation precedent agreement to secure a long-term supply of additional natural gas transportation. The new pipeline is expected to be operational by late 2029 and will be owned and operated by a third-partythird party. In July 2026, APS announced plans to convert two units at Cholla to natural gas, adding approximately 380 MW of gas-fired generation. The plan is subject to change pending the comparison to other generation sources that APS is considering in its evaluation of the 2025 ASRFP. The plan contemplates that construction on the gas conversion would begin in 2028 with a targeted in-service date in 2029. In addition to the planned Cholla gas conversion, APS plans to add up to 2,000 MW of flexible natural gas generation to its portfolio, designed to help meet the growing around-the-clock energy needs in Arizona. APS continues to explore additional development opportunities to meet Arizona’s growing needs.

84 more changes in this Item, word by word, in Powerpack.

Powerpack