# Pinnacle West Capital Corporation (PNW)

**Exchange:** NYSE  
**Sector:** Utilities  
**Market cap:** $12.49B  
**Price:** $102.40 (-0.68%)

> Pinnacle West Capital Corporation is an investor-owned electric utility holding company based in Phoenix, Arizona, that primarily owns and operates Arizona Public Service (APS), the largest utility company in Arizona. Through APS, Pinnacle West serves approximately two-thirds of the Phoenix metropolitan area across eleven of Arizona's fifteen counties, providing electricity and natural gas to millions of homes and businesses. The company operates a diversified energy generation portfolio including coal, nuclear, natural gas, and solar facilities. Pinnacle West's nuclear operations include a stake in the Palo Verde Nuclear Generating Station, one of the nation's significant nuclear power plants. The company is actively transitioning toward renewable energy, operating utility-scale solar systems and numerous smaller solar facilities while planning substantial investments in energy storage capacity. Pinnacle West is regulated by the Arizona Corporation Commission and is publicly traded on the New York Stock Exchange as a component of the S&P 500 index. The company focuses on delivering reliable and affordable energy solutions while supporting Arizona's transition to a sustainable energy future.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $5.34B | — | $1.07B | — | — |
| 2024 | $5.12B | — | $1.01B | — | — |
| 2023 | $4.70B | — | $825M | — | — |
| 2022 | $4.32B | — | $732M | — | — |
| 2021 | $3.80B | — | $805M | — | — |
| 2020 | $3.59B | — | $788M | — | — |
| 2019 | $3.47B | — | $672M | — | — |
| 2018 | $3.69B | $2.62B | $774M | — | — |
| 2017 | $3.57B | $2.58B | $910M | — | — |
| 2016 | $3.50B | $2.42B | $836M | — | — |
| 2015 | $3.50B | — | $855M | — | — |
| 2014 | $3.49B | — | $811M | — | — |
| 2013 | $3.45B | — | $846M | — | — |
| 2012 | $3.30B | — | $852M | — | — |
| 2011 | $3.24B | — | $747M | — | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $30.03B | $22.99B | $7.05B | $7M | $9.21B |
| 2024 | $26.10B | $19.35B | $6.75B | $4M | $8.06B |
| 2023 | $24.66B | $18.48B | $6.18B | $5M | $7.54B |
| 2022 | $22.72B | $16.67B | $6.05B | $5M | $7.74B |
| 2021 | $22.00B | $16.10B | $5.91B | $10M | $6.91B |
| 2020 | $20.02B | $14.39B | $5.63B | $60M | $6.31B |
| 2019 | $18.48B | $13.05B | $5.43B | $10M | $4.83B |
| 2018 | $17.66B | $12.44B | $5.22B | $6M | $4.64B |
| 2017 | $17.02B | $12.01B | $5.01B | $14M | $4.79B |
| 2016 | $16.00B | $11.20B | $4.80B | $9M | $4.02B |
| 2015 | $15.03B | $10.44B | $4.58B | $39M | $3.46B |
| 2014 | $14.29B | $9.92B | $4.37B | $8M | $3.01B |
| 2013 | $13.51B | $9.31B | $4.19B | $10M | $3.34B |
| 2012 | $13.38B | $9.41B | $3.97B | $26M | $3.32B |
| 2011 | $13.11B | $9.29B | $3.82B | $34M | $3.50B |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $1.81B | — | — |
| 2024 | $1.61B | — | — |
| 2023 | $1.21B | — | — |
| 2022 | $1.24B | — | — |
| 2021 | $860M | — | — |
| 2020 | $966M | — | — |
| 2019 | $957M | — | — |
| 2018 | $1.28B | — | — |
| 2017 | $1.12B | — | — |
| 2016 | $1.02B | — | — |
| 2015 | $1.09B | — | — |
| 2014 | $1.10B | — | — |
| 2013 | $1.15B | — | — |
| 2012 | $1.17B | — | — |
| 2011 | $1.13B | — | — |

Source: [CompaniesByCap](https://companiesbycap.com/company/PNW)