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Friday 6 November 2026 Export PNW’s income statement to Excel — free account

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.

Revenue
+8.35%
EPS
+4.27%
Free cash flow
−24.9%
Total debt
+9.05%

Quarter to September 2026, against a year earlier

103.77 1.80 −1.71%
Market cap
$12.6B
P/E
19.0×
Fwd P/E
22.0×
Dividend yield
3.52%
F-score
3/9
Altman Z
0.69
Beneish M
−2.46
Dividend safety
40/100
Overview Business Profile Earnings & Analysis
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Pinnacle West Capital Corporation (PNW) Net margin

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Pinnacle West Capital Corporation's net margin over the twelve months to 30 September 2026 was 11.6%, up 0.0 percentage points from fiscal 2025 (11.6%). Over the past ten years it has ranged from 10.7% (fiscal 2023) to 16.3% (fiscal 2021); the current reading is higher than 27% of that period. That is below the Utilities Regulated Electric industry median of 13.5% and in line with the Utilities sector median of 11.6%.

Net margin, annual

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Annual newest first

Period Net margin Change (points)
FY2025 11.6% (0.33)
FY2024 11.9% 1.20
FY2023 10.7% (0.50)
FY2022 11.2% (5.09)
FY2021 16.3% 0.92
FY2020 15.4% (0.16)
FY2019 15.5% 1.67
FY2018 13.8% 0.14
FY2017 13.7% 1.07
FY2016 12.6% 0.12

Quarterly newest first

Period Net margin Change (points)
Sep 2026 22.0% 9.74
Jun 2026 12.3% 9.41
Mar 2026 2.86% 1.49
Dec 2025 1.37% (21.32)
43 more quarters

Against its own ten years

Low 10.7% High 16.3%
Ten-year median 12.6%
Current reading's percentile 28

Net margin against peers

Company Net margin
LNT Alliant Energy Corporation compare 20.7%
IDA IDACORP, Inc. compare 19.9%
EIX Edison International compare 19.6%
EVRG Evergy Inc. compare 16.7%
OGE OGE Energy Corporation compare 16.4%
PNW Pinnacle West Capital Corporation 11.6%
TXNM TXNM Energy, Inc. compare 9.85%
CMS CMS Energy Corporation compare 9.60%
KEP Korea Electric Power Corporation compare 8.11%
Utilities Regulated Electric industry median 13.5%
Utilities sector median 11.6%
Market median 1.06%

What Net margin is

Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.

Net Income Allotted to Shareholders ÷ Revenue

The full definition of Net margin →

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