Pinnacle West Capital Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	5,340	5,125	4,696	4,324	3,804
Revenue Growth (YoY)	4.20%	9.13%	8.59%	13.69%	6.05%
Fuel and Purchased Power Expense	1,933	1,823	1,793	1,629	1,153
Operations and Maintenance Expenses	1,185	1,165	1,059	987.07	954.07
Gross Profit	2,221	2,137	1,845	1,708	1,697
Depreciation & Amortization Expenses	915.34	895.35	794.04	753.2	650.88
Taxes Other than Income Tax	234.8	227.4	224.01	220.37	234.64
Other Operating Expenses	3.68	2.39	1.91	2.49	6.39
Operating Income	1,068	1,012	824.64	731.91	805.31
Interest Income	61.15	38.62	53.12	45.26	41.74
Interest Expense	-421.97	-377.47	-331.32	-255.54	-233.26
Other Non-Operating Income (Expense)	92.71	101.97	102.38	99.28	173.98
Total Non-Operating Income (Expense)	-268.12	-236.88	-175.83	-111	-17.54
Pretax Income	738.37	736.56	595.69	575.65	746.03
Provision for Income Taxes	106.73	110.53	76.91	74.83	110.09
Net Income	616.53	608.81	501.56	483.6	618.72
Minority Interest in Earnings	15.11	17.22	17.22	17.22	17.22
Net Income to Common	616.53	608.81	501.56	483.6	618.72
Net Income Growth	1.27%	21.38%	3.71%	-21.84%	12.38%
Shares Outstanding (Basic)	120	114	113	113	113
Shares Outstanding (Diluted)	122	116	114	113	113
Shares Change (YoY)	4.94%	2.13%	0.34%	0.20%	0.22%
EPS (Basic)	5.15	5.35	4.42	4.27	5.48
EPS (Diluted)	5.05	5.24	4.41	4.26	5.47
EPS Growth	-3.63%	18.82%	3.52%	-22.12%	12.32%
Free Cash Flow	-819.52	-639.37	-638.67	-466.05	-613.46
Free Cash Flow Per Share	-6.72	-5.50	-5.61	-4.11	-5.42
Dividends Per Share	-	3.535	3.475	3.415	3.340
Dividend Growth	-	1.73%	1.76%	2.25%	5.11%
Gross Margin	41.60%	41.70%	39.28%	39.50%	44.62%
Operating Margin	19.99%	19.75%	17.56%	16.93%	21.17%
Profit Margin	11.83%	12.22%	11.05%	11.58%	16.72%
FCF Margin	-15.35%	-12.48%	-13.60%	-10.78%	-16.13%
EBITDA	2,037	1,968	1,679	1,550	1,524
EBITDA Margin	38.15%	38.41%	35.75%	35.84%	40.08%
EBIT	1,068	1,012	824.64	731.91	805.31
EBIT Margin	19.99%	19.75%	17.56%	16.93%	21.17%
Effective Tax Rate	14.45%	15.01%	12.91%	13.00%	14.76%

Updated Feb 25, 2026. Data Source: Fiscal.ai. Utilities template. Financial Sources.

SEC Filings: 10-K · 10-Q