# Pinnacle West Capital Corp: overview

PNW · NYSE · CIK 764622 · [Utilities](/sectors/utilities.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/pnw.md) · [Financials](/companies/pnw/financials.md) · [Filings](/companies/pnw/filings.md) · [Insiders](/companies/pnw/insiders.md)

Latest reported revenue: [$1.46bn](/filings/0000764622-26-000041.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 4, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0000764622-26-000041).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,769](/filings/0000764622-25-000087.md) | [1,095 d](/filings/0000764622-26-000011.md) | [1,032](/filings/0000764622-26-000025.md) | [1,359](/filings/0000764622-26-000041.md) | [1,821](/filings/0000764622-25-000087.md) | [1,128 d](/filings/0000764622-26-000011.md) | [1,150](/filings/0000764622-26-000025.md) | [1,456](/filings/0000764622-26-000041.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [30.9%](/filings/0000764622-25-000087.md) | [7.7% d](/filings/0000764622-26-000011.md) | [5.5%](/filings/0000764622-26-000025.md) | [22.6%](/filings/0000764622-26-000041.md) | [32.0%](/filings/0000764622-25-000087.md) | [10.7% d](/filings/0000764622-26-000011.md) | [11.4%](/filings/0000764622-26-000025.md) | [21.0%](/filings/0000764622-26-000041.md) |
| Net margin | % | [22.6%](/filings/0000764622-25-000087.md) | [(0.2%) d](/filings/0000764622-26-000011.md) | [(0.0%)](/filings/0000764622-26-000025.md) | [14.5%](/filings/0000764622-26-000041.md) | [22.9%](/filings/0000764622-25-000087.md) | [1.6% d](/filings/0000764622-26-000011.md) | [3.1%](/filings/0000764622-26-000025.md) | [12.4%](/filings/0000764622-26-000041.md) |
| Diluted EPS | $ per share | [3.37](/filings/0000764622-25-000087.md) | not reported | [(0.04)](/filings/0000764622-26-000025.md) | [1.58](/filings/0000764622-26-000041.md) | [3.39](/filings/0000764622-25-000087.md) | not reported | [0.27](/filings/0000764622-26-000025.md) | [1.43](/filings/0000764622-26-000041.md) |
| Free cash flow | $m | [(32.7) d](/filings/0000764622-25-000087.md) | [(92.1) d](/filings/0000764622-26-000011.md) | [(221)](/filings/0000764622-26-000025.md) | [(448) d](/filings/0000764622-26-000041.md) | [42.0 d](/filings/0000764622-25-000087.md) | [(193) d](/filings/0000764622-26-000011.md) | [(393)](/filings/0000764622-26-000025.md) | [(335) d](/filings/0000764622-26-000041.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:ProfitLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [3,804](/filings/0000764622-24-000016.md) | [4,324](/filings/0000764622-25-000023.md) | [4,696](/filings/0000764622-26-000011.md) | [5,125](/filings/0000764622-26-000011.md) | [5,340](/filings/0000764622-26-000011.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [21.2%](/filings/0000764622-24-000016.md) | [16.9%](/filings/0000764622-25-000023.md) | [17.6%](/filings/0000764622-26-000011.md) | [19.7%](/filings/0000764622-26-000011.md) | [20.0%](/filings/0000764622-26-000011.md) |
| Net margin | % | [16.7%](/filings/0000764622-24-000016.md) | [11.6%](/filings/0000764622-25-000023.md) | [11.0%](/filings/0000764622-26-000011.md) | [12.2%](/filings/0000764622-26-000011.md) | [11.8%](/filings/0000764622-26-000011.md) |
| Diluted EPS | $ per share | [5.47](/filings/0000764622-24-000016.md) | [4.26](/filings/0000764622-25-000023.md) | [4.41](/filings/0000764622-26-000011.md) | [5.24](/filings/0000764622-26-000011.md) | [5.05](/filings/0000764622-26-000011.md) |
| Free cash flow | $m | [(613)](/filings/0000764622-24-000016.md) | [(466)](/filings/0000764622-25-000023.md) | [(639)](/filings/0000764622-26-000011.md) | [(639)](/filings/0000764622-26-000011.md) | [(820)](/filings/0000764622-26-000011.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:ProfitLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/pnw/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Capital Research Global Investors](/funds/1422848.md) | 2026-06-30 | $1.76bn | 16,494,147 |  | Added +57,253 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $1.26bn | 11,782,896 |  | Added +14,316 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $845.0m | 7,897,426 |  | Added +95,986 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $750.8m | 7,016,843 |  | Added +105,654 |
| [BARROW HANLEY MEWHINNEY & STRAUSS LLC](/funds/313028.md) | 2026-06-30 | $703.6m | 6,575,681 |  | Reduced −424,936 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $640.6m | 5,986,758 |  | Reduced −1,808 |
| [ATLAS Infrastructure Partners (UK) Ltd.](/funds/1924953.md) | 2026-06-30 | $570.5m | 5,332,226 |  | Added +257,813 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $446.6m | 4,173,460 |  | Reduced −76,833 |
| [Soroban Capital Partners LP](/funds/1517857.md) | 2026-06-30 | $414.6m | 3,874,977 |  | Added +20,162 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $344.3m | 3,223,551 |  | Added +89,508 |

## Recent filings

[All 1,661 filings](/companies/pnw/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-09-30 | 16:05 ET | [8-K](/filings/0000764622-26-000049.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000764622-26-000049 |
| 2026-09-04 | 16:27 ET | [8-K](/filings/0000764622-26-000046.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000764622-26-000046 |
| 2026-08-13 | 16:37 ET | [8-K](/filings/0001104659-26-095989.md) | 9.01 Financial statements and exhibits | 0001104659-26-095989 |
| 2026-08-07 | 16:35 ET | [8-K](/filings/0000764622-26-000044.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000764622-26-000044 |
| 2026-08-04 | 09:01 ET | [8-K](/filings/0001104659-26-090108.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001104659-26-090108 |
| 2026-08-04 | 08:20 ET | [10-Q](/filings/0000764622-26-000041.md) | Quarterly report, period 2026-06-30 | 0000764622-26-000041 |
| 2026-08-04 | 08:18 ET | [8-K](/filings/0000764622-26-000040.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000764622-26-000040 |
| 2026-06-29 | 16:03 ET | [8-K](/filings/0000764622-26-000034.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0000764622-26-000034 |
| 2026-06-08 | 16:25 ET | [8-K](/filings/0000764622-26-000031.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000764622-26-000031 |
| 2026-06-05 | 16:44 ET | [8-K](/filings/0001104659-26-071021.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-071021 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0000764622-26-000011.md), filed Feb 25, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/349cc602-4615-4157-bf66-3c6dafe53e82)

## About the filer

- CIK: 764622
- Tickers: PNW
- Exchange: NYSE
- SIC code: 4911 Electric Services
- State of incorporation: AZ
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:24 ET. No prices; not investment advice.