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.
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Pinnacle West Capital Corporation (PNW) Debt to equity
Pinnacle West Capital Corporation's debt to equity at the end of the quarter to 30 June 2026 was 1.6×, up 0.1× from fiscal 2025 (1.5×). Over the past ten years it has ranged from 0.8× (fiscal 2015) to 1.5× (fiscal 2025) — the current reading is the highest in ten years. That is in line with the Utilities Regulated Electric industry median of 1.5× and above the Utilities sector median of 1.2×.
Debt to equity, annual
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Annual newest first
| Period | Debt to equity | Change |
|---|---|---|
| FY2025 | 1.5× | 8.42% |
| FY2024 | 1.4× | (4.27%) |
| FY2023 | 1.4× | 8.76% |
| FY2022 | 1.3× | 8.08% |
| FY2021 | 1.2× | 8.39% |
| FY2020 | 1.1× | 8.90% |
| FY2019 | 1.0× | 6.15% |
| FY2018 | 1.0× | 0.80% |
| FY2017 | 1.0× | 10.41% |
| FY2016 | 0.9× | 8.23% |
Quarterly newest first
| Period | Debt to equity | Change |
|---|---|---|
| Jun 2026 | 1.6× | 3.93% |
| Mar 2026 | 1.5× | 3.75% |
| Dec 2025 | 1.5× | 2.55% |
| Sep 2025 | 1.5× | (3.30%) |
| 42 more quarters | Free account |
Against its own ten years
Debt to equity against peers
| Company | Debt to equity |
|---|---|
| IDA IDACORP, Inc. compare | 1.0× |
| OGE OGE Energy Corporation compare | 1.2× |
| EVRG Evergy Inc. compare | 1.3× |
| TXNM TXNM Energy, Inc. compare | 1.5× |
| KEP Korea Electric Power Corporation compare | 1.6× |
| PNW Pinnacle West Capital Corporation | 1.6× |
| LNT Alliant Energy Corporation compare | 1.6× |
| CMS CMS Energy Corporation compare | 1.9× |
| EIX Edison International compare | 2.2× |
| Utilities Regulated Electric industry median | 1.5× |
| Utilities sector median | 1.2× |
| Market median | 0.1× |
What Debt to equity is
Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.
(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)
More on PNW
- Revenue
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- Free cash flow
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- P/E ratio
- P/S ratio
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- Price to free cash flow
- EV/EBITDA
- EV/Sales
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