Pinnacle West Capital (PNW) financial statements
- FY2025 revenue
- $5.3B▲ +4.2%
- FY2025 net income
- $632M▲ +0.9%
- FY2025 diluted EPS
- $5.05▼ −3.6%
- FY2025 free cash flow
- −$820M
Pinnacle West Capital income statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Revenue | 5,340 | 5,125 | 4,696 |
| Operating income | 1,068 | 1,012 | 825 |
| Pretax income | 738 | 737 | 596 |
| Net income | 632 | 626 | 519 |
| Diluted earnings per share | 5.05 | 5.24 | 4.41 |
Pinnacle West Capital balance sheet
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Cash and cash equivalents | 7 | 4 | 5 |
| Total assets | 30,032 | 26,103 | 24,661 |
| Total liabilities (derived) | 22,945 | 19,245 | 18,376 |
| Total equity | 7,087 | 6,857 | 6,285 |
| Long-term debt | 9,206 | 8,059 | 7,541 |
Pinnacle West Capital cash flow statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Operating cash flow | 1,805 | 1,610 | 1,208 |
| Capital expenditure | -2,625 | -2,249 | -1,846 |
| Free cash flow (derived) | -820 | -639 | -639 |
| Dividends paid | -423 | -395 | -386 |
| Share repurchases | n/a | n/a | -4 |
Quarterly highlights
| USD millions | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 |
|---|---|---|---|---|
| Period ended | 30 Sep 2026 | 30 Jun 2026 | 31 Mar 2026 | 31 Dec 2025 |
| Revenue (derived) | 1,973 | 1,456 | 1,150 | 1,128 |
| Operating income (derived) | 621 | 306 | 131 | 121 |
| Net income (derived) | 436 | 181 | 35 | 18 |
| Diluted earnings per share | 3.49 | 1.43 | 0.27 | n/a |
| Operating cash flow (derived) | 723 | 394 | 235 | 477 |
| Total assets | 33,464 | 32,577 | 30,691 | 30,032 |
Pinnacle West Capital major shareholders
| Holder | Share of class | Shares | Filed |
|---|---|---|---|
| Capital Research Global Investors | 13.6% | 16,441,549 | 14 May 2026 |
| BlackRock, Inc. | 8.2% | 9,818,438 | 17 April 2025 |
| Vanguard Capital Management | 7.4% | 8,892,434 | 30 April 2026 |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | 5.4% | 6,575,662 | 12 August 2026 |
Pinnacle West Capital 10-K and SEC filings
| Filed | Form | Type | Description |
|---|---|---|---|
| 3 November 2026 | 8-K | Current report | Current report |
| 3 November 2026 | 10-Q | Quarterly report | Quarterly report |
| 30 September 2026 | 8-K | Current report | Current report |
| 4 September 2026 | 8-K | Current report | Current report |
| 13 August 2026 | 8-K | Current report | FORM 8-K |
| 7 August 2026 | 8-K | Current report | Current report |
| 4 August 2026 | 8-K | Current report | FORM 8-K |
| 4 August 2026 | 10-Q | Quarterly report | Quarterly report |
Common questions
What was Pinnacle West Capital's revenue in fiscal 2025?
Pinnacle West Capital reported $5.3 billion in revenue for fiscal 2025, the year ended 31 December 2025, up 4.2% from fiscal 2024.
What was Pinnacle West Capital's net income in fiscal 2025?
Pinnacle West Capital reported net income of $632 million for fiscal 2025, the year ended 31 December 2025, up 0.9% from fiscal 2024. Diluted earnings per share were $5.05.
What was Pinnacle West Capital's free cash flow in fiscal 2025?
Pinnacle West Capital had negative free cash flow of $820 million in fiscal 2025. Operating cash flow was $1.8 billion and capital expenditure was $2.6 billion.
What were Pinnacle West Capital's total assets at the end of fiscal 2025?
Pinnacle West Capital reported total assets of $30.0 billion at the end of fiscal 2025, the year ended 31 December 2025.
How much Pinnacle West Capital history does each plan include?
Free covers the last 3 fiscal years of annual figures. Basic covers the last 10 fiscal years, annual and quarterly. Pro covers the full history, with first reported values and as of dates.
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