FY2025 · ended Dec 31, 2025 · Revenue $5.34B, +4.2% YoY · Filed Feb 25, 2026
Pinnacle West Capital Corporation (PNW) files with the SEC under industry code 4911, Electric Services. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $5.3 billion and net income of $631.6 million. Free cash flow was -$819.5 million. As of Sep 30, 2026 it held $11.1 million in cash and investments and $17.0 billion in total debt.
Revenue (TTM)
$5.71B
+7.5% vs year-ago TTM
Net income (TTM)
$669.91M
+9.5% vs year-ago TTM
Operating cash flow (TTM)
$1.83B
+3.5% vs year-ago TTM
Free cash flow (TTM)
$-931.93M
-29.6% vs year-ago TTM
EPS (TTM)
$5.34
+8.6% vs year-ago TTM
Dividend per share (TTM)
$3.64
+1.7% vs year-ago TTM
Shares outstanding
120.91M
+1.5% vs prior year
Net cash
$-16.96B
as of Sep 30, 2026
Operating margin
20.7%
FY 2026
Company profile
- Industry
- Electric Services (SIC 4911)
- Listed as
- PNW (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- AZ
- Headquarters
- Phoenix, AZ
- SEC filer status
- Large accelerated filer
- SEC CIK
- 764622
Other Electric Services companies
- Nextera Energy Inc NEE
- Southern Co SO
- Constellation Energy Corp CEG
- American Electric Power Co Inc AEP
- Dominion Energy, Inc D
- Entergy Corp /DE/ ETR
- Vistra Corp. VST
- Fortis Inc. FTS
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $5.3B | $5.1B | $4.7B | $4.3B | $3.8B |
| Operating income | $1.1B | $1.0B | $824.6M | $731.9M | $805.3M |
| Net income | $631.6M | $626.0M | $518.8M | $500.8M | $635.9M |
| Diluted EPS | $5.05 | $5.24 | $4.41 | $4.26 | $5.47 |
| Operating cash flow | $1.8B | $1.6B | $1.2B | $1.2B | $860.0M |
| Free cash flow | -$819.5M | -$639.4M | -$638.7M | -$466.0M | -$613.5M |
| Total assets | $30.0B | $26.1B | $24.7B | $22.7B | $22.0B |
| Stockholders' equity | $7.0B | $6.8B | $6.2B | $6.0B | $5.9B |
| Cash and investments | $6.6M | $3.8M | $5.0M | $4.8M | $10.0M |
| Total debt | $14.3B | $11.0B | $9.4B | $8.8B | $8.0B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Results of operations, Regulation FD disclosure
|
Nov 3, 2026 | Nov 3, 2026 |
| 10-Q | Quarterly report | Nov 3, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Regulation FD disclosure
|
Sep 30, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Regulation FD disclosure
|
Sep 4, 2026 | Sep 4, 2026 |
| 8-K | Current report | Aug 13, 2026 | Aug 10, 2026 |
| 8-K |
Current report
Regulation FD disclosure
|
Aug 7, 2026 | Aug 7, 2026 |
All 1002 Pinnacle West Capital Corporation SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.