Companies / Utilities
PNW
Pinnacle West Capital
Multi-Utilities
Multi-UtilitiesAnalysis in progress
In progress
We are decoding this company's strategy and relationships
New analyses are published every weekday. Founding members get them first.
Business at a glance
Operating-health scores describe reported fundamentals on a 0–100 scale. They are not a rating of the stock. How they work
Operating health29
Growth44
Profitability60
Cash generation0
Balance sheet2
Dilution control40
Key ratios and five-year financials
Latest quarter revenue YoY (2026-09-30)8.3%Revenue growth (FY)4.2%Revenue CAGR (3y)7.3%Gross margin—Operating margin20.0%Net margin11.8%Free cash flow margin-15.3%R&D / revenue—Stock comp / revenue0.5%Net debt / operating cash flow5.85xCurrent ratio0.54Diluted share count change4.9%
| Fiscal year ending | FY 2021-12 | FY 2022-12 | FY 2023-12 | FY 2024-12 | FY 2025-12 |
|---|---|---|---|---|---|
| Revenue | $3.8B | $4.3B | $4.7B | $5.1B | $5.3B |
| Operating income | $805M | $732M | $825M | $1.0B | $1.1B |
| Net income | $636M | $501M | $519M | $626M | $632M |
| Operating cash flow | $860M | $1.2B | $1.2B | $1.6B | $1.8B |
| Capital expenditure | $1.5B | $1.7B | $1.8B | $2.2B | $2.6B |
| Free cash flow | -$613M | -$466M | -$639M | -$639M | -$820M |
| Stock-based comp | $18M | $16M | $17M | $24M | $27M |
| Buybacks | — | $3M | $4M | — | — |
| Dividends | $369M | $379M | $386M | $395M | $423M |
| Cash | $10M | $5M | $5M | $4M | $7M |
| Total debt | $7.2B | $8.1B | $9.0B | $9.4B | $10.6B |
| Equity | $5.9B | $6.0B | $6.2B | $6.8B | $7.0B |
StratGraph publishes general, impersonal research about public companies based on public filings. It is not investment advice, not a recommendation to buy, sell or hold any security, and not tailored to any reader's circumstances. Content may contain errors and may be partly generated with AI tools; verify against the original filings, which are linked. Authors may not trade securities discussed within the window set by our trading policy. Full disclaimer.