Pinnacle West Capital Corporation (PNW)

Pinnacle West Capital Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	5,457	5,340	5,125	4,696	4,324	3,804
Revenue Growth (YoY)	4.84%	4.20%	9.13%	8.59%	13.69%	6.05%
Fuel and Purchased Power Expense	1,990	1,933	1,823	1,793	1,629	1,153
Operations and Maintenance Expenses	1,162	1,185	1,165	1,059	987.07	954.07
Gross Profit	2,306	2,221	2,137	1,845	1,708	1,697
Depreciation & Amortization Expenses	920.26	915.34	895.35	794.04	753.2	650.88
Taxes Other than Income Tax	237.42	234.8	227.4	224.01	220.37	234.64
Other Operating Expenses	6.26	3.68	2.39	1.91	2.49	6.39
Operating Income	1,142	1,068	1,012	824.64	731.91	805.31
Interest Expense	-443.02	-421.97	-377.47	-331.32	-255.54	-233.26
Other Non-Operating Income (Expense)	82.61	92.71	101.97	102.38	99.28	173.98
Total Non-Operating Income (Expense)	-360.41	-329.26	-275.5	-228.95	-156.26	-59.28
Pretax Income	781.17	738.37	736.56	595.69	575.65	746.03
Provision for Income Taxes	114.08	106.73	110.53	76.91	74.83	110.09
Net Income	654.1	616.53	608.81	501.56	483.6	618.72
Minority Interest in Earnings	13	15.11	17.22	17.22	17.22	17.22
Net Income to Common	654.1	616.53	608.81	501.56	483.6	618.72
Net Income Growth	11.37%	1.27%	21.38%	3.71%	-21.84%	12.38%
Shares Outstanding (Basic)	120	120	114	113	113	113
Shares Outstanding (Diluted)	122	122	116	114	113	113
Shares Change (YoY)	4.94%	4.94%	2.13%	0.34%	0.20%	0.22%
EPS (Basic)	5.46	5.15	5.35	4.42	4.27	5.48
EPS (Diluted)	5.37	5.05	5.24	4.41	4.26	5.47
EPS Growth	6.76%	-3.63%	18.82%	3.52%	-22.12%	12.32%
Shares Outstanding	121.19	120.9	119.1	113.42	113.17	112.93
Free Cash Flow	-991.93	-819.52	-639.37	-638.67	-466.05	-613.46
Free Cash Flow Per Share	-8.10	-6.72	-5.50	-5.61	-4.11	-5.42
Dividends Per Share	3.610	3.595	3.535	3.475	3.415	3.340
Dividend Growth	0.42%	1.70%	1.73%	1.76%	2.25%	5.11%
Gross Margin	42.25%	41.60%	41.70%	39.28%	39.50%	44.62%
Operating Margin	20.92%	19.99%	19.75%	17.56%	16.93%	21.17%
Profit Margin	12.22%	11.83%	12.22%	11.05%	11.58%	16.72%
FCF Margin	-18.18%	-15.35%	-12.48%	-13.60%	-10.78%	-16.13%
EBITDA	2,120	2,037	1,968	1,679	1,550	1,524
EBITDA Margin	38.85%	38.15%	38.41%	35.75%	35.84%	40.08%
EBIT	1,142	1,068	1,012	824.64	731.91	805.31
EBIT Margin	20.92%	19.99%	19.75%	17.56%	16.93%	21.17%
Effective Tax Rate	14.60%	14.45%	15.01%	12.91%	13.00%	14.76%

Updated May 4, 2026. Data Source: Fiscal.ai. Utilities template. Financial Sources.

SEC Filings: 10-K · 10-Q