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%

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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 Segments Valuation Filings

Pinnacle West Capital Corporation (PNW) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2012: revenue by segment, and margins
Regulated Operation	3,294	99.76%
Other	8	0.24%
Gross margin		69.87%
Operating margin		25.80%
Pre-tax margin		19.88%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2012	FY2011	FY2010	FY2009
Regulated Electricity Segment	5,340 100.00%	5,125 100.00%	4,696 100.00%	4,324 99.99%	—	—	—	—
Other	0 0.00%	0 0.00%	0 0.00%	0 0.00%	8 0.24%	4 0.12%	8 0.25%	5 0.16%
Regulated Operation	—	—	—	—	3,294 99.76%	3,237 99.86%	3,181 99.74%	3,149 99.85%
Revenue	5,340	5,125	4,696	4,324	3,302	3,241	3,189	3,154

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Customer growth	Q3 FY2026	1.80%	2.40%	—
Customers	Q3 FY2026	1.5M	1.4M	+7.14%
Weather-normalized sales growth	Q3 FY2026	9.50%	5.40%	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q3 FY2023
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.