Pinnacle West Capital Corporation (PNW) vs Portland General Electric Company (POR)

Pinnacle West Capital Corporation and Portland General Electric Company are both Utilities Regulated Electric companies. Pinnacle West Capital Corporation is the larger, with a market value of $11.0B against $5.4B — 2.0× the size. Pinnacle West Capital Corporation trades at the lower P/E: 17.2× against 20.5×. Pinnacle West Capital Corporation grew revenue faster over the last twelve months: 5.69% against 1.32%. Pinnacle West Capital Corporation has the higher net margin (11.5% vs 7.27%) and the higher return on invested capital (3.86% vs 3.35%). Both pay a dividend; Pinnacle West Capital Corporation yields more (5.26% vs 4.74%). Across the 22 metrics below, Pinnacle West Capital Corporation leads on 13 and Portland General Electric Company on 9.

Valuation

Metric PNW POR Utilities Regulated Electric median
P/E 17.24 20.55 18.84
P/S 2.00 1.53 2.52
P/B 1.57 1.32 1.63
Price to free cash flow n/m n/m 36.22
EV/EBITDA 8.40 9.77 11.82
EV/Sales 4.05 2.99 4.58
Earnings yield 5.80% 4.87% 5.30%
Free cash flow yield (4.52%) (3.49%) (5.06%)

Profitability

Metric PNW POR Utilities Regulated Electric median
Gross margin 62.70% 60.27% 66.28%
Operating margin 20.52% 14.06% 21.79%
Net margin 11.52% 7.27% 12.94%
Free cash flow margin (9.05%) (5.35%) (11.51%)
Return on equity 9.21% 6.45% 9.75%
Return on assets 2.07% 1.95% 2.75%
Return on invested capital 3.86% 3.35% 3.87%

Growth

Metric PNW POR Utilities Regulated Electric median
Revenue growth (TTM) 5.69% 1.32% 7.43%
EPS growth (last fiscal year) (3.63%) (7.97%) —
Revenue growth, 5-year CAGR 8.28% 10.76% 6.75%
Net income growth, 5-year CAGR 2.29% 14.57% 6.44%

Health

Metric PNW POR Utilities Regulated Electric median
Debt to equity 1.61 1.26 1.53
Current ratio 0.59 0.98 0.81
Net debt to EBITDA 4.22 4.28 5.25

Dividend

Metric PNW POR Utilities Regulated Electric median
Dividend yield 5.26% 4.74% 4.33%
Payout ratio 0.97 0.76 0.66

Size

Metric PNW POR Utilities Regulated Electric median
Market cap 11.04b 5.39b 22.90b

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