Pinnacle West Capital Corp (PNW)
Utilities · Multi-Utilities · US stock · S&P 500 component
$103.42
▲ +1.84 (1.81%)
Fair valueFair
$102 −1.0% to fair value
$51fair band $72–$133$154
Day's range
$101.68 – $103.71
52-week range
$83.83 – $110.16
About Pinnacle West Capital Corp
Pinnacle West Capital is the holding company for Arizona Public Service, a regulated electric utility that serves homes, businesses and industrial customers across much of Arizona. The utility generates power from natural gas, nuclear, solar and other sources, and it operates the transmission and distribution lines that deliver it. Its rates are set by the Arizona Corporation Commission and federal regulators.
Revenue comes from regulated charges paid by customers for electricity, which depend on rates approved by regulators and on usage. The last twelve months produced $5.6 billion, and revenue has grown at 7.3% a year across the last three years. The operating margin is 20.5%, and the business earns a profit of 4% on the capital invested in it. It carries net debt of 7.7 times EBITDA. The company pays a dividend with a yield of 3.5%. On the site's X-Ray Score it receives 44 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $83.83 – $110.16Volume 1,033,787Daily, split-adjusted
Vitals
Market cap$12.9B
52-week range$83.83 – $110.16
Volume (last day)1,033,787
P/E (TTM)19.5
EBIT / EV yield3.9%
Free-cash-flow yield-6.8%
Dividend yield3.5%
Revenue (TTM)$5.6B
Net income (TTM)$651M
Operating margin20.5%
Return on capital3.8%
Debt incl. leases$16.5B
Cash & securities$9M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$102model spread $102 – $102
Fair
−1.0% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Terminal value >80% of DCF: lower confidence
Price $103
Undervalued < $72Fair $72 – $133Overvalued > $133
10-year DCF (market-scaled) · excluded
$1
Peer multiples
$93
Earnings power floor (not blended)
$-19
Fundamentals-adjusted multiple
$112
Growth the price implies
14.9%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Utilities peers. Open a lens to see the numbers behind it.
Valuation
Weak
38/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.9%
Free-cash-flow yield-6.8%
Fair value vs price1.0×
Growth
Fair
61/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)7.3%
EPS growth (3y)5.8%
Growth consistency100%
Profitability
Weak
41/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital3.8%
Operating margin20.5%
Financial health
Weak
32/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA7.7×
Interest cover2.5×
Dividends
Fair
54/100
Dividend is typical for its sector.
See the numbers →
Dividend yield3.5%
Dividend growth3.7%
Quarterly results: last 6 quarters
+8.5%
Mar '25
+3.8%
Jun '25
+2.9%
Sep '25
+3.0%
Dec '25
+11.4%
Mar '26
+7.1%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.5B, diluted EPS $1.43.
Compare with peers
ED Consolidated Edison In...69 AEE Ameren Corp58 NI Nisource Inc.55 DTB Dte Energy Co55Other Multi-Utilities companies by X-Ray Score.
Fundamentals checklist
● 2 Good · ● 4 Average · ● 8 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreBad
Growth
EPS growth (3y)Average
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDABad
Interest coverAverage
Valuation
Fair value vs priceAverage
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginBad
Each check is graded against the company's sector, not a fixed number. Checklist score 41/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| 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 |
| Operating margin | 21.2% | 16.9% | 17.6% | 19.7% | 20.0% |
| Free cash flow | −$613M | −$466M | −$639M | −$639M | −$820M |
| Diluted EPS | $5.47 | $4.26 | $4.41 | $5.24 | $5.05 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Strongly bullish
9 bullish · 1 neutral · 2 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 99.70 | Bullish |
| EMA 10 | 99.94 | Bullish |
| SMA 20 | 96.33 | Bullish |
| EMA 20 | 98.22 | Bullish |
| SMA 50 | 97.34 | Bullish |
| EMA 50 | 98.06 | Bullish |
| SMA 100 | 100.4 | Bullish |
| EMA 100 | 98.67 | Bullish |
| SMA 200 | 98.52 | Bullish |
| EMA 200 | 97.30 | Bullish |
Oscillators (daily)
| RSI (14) | 73.78 | Bearish |
| MACD (12, 26) | 1.56 | Bullish |
| Momentum (12) | 11.16 | Bullish |
| Stochastic %K (14) | 97.80 | Bearish |
| Williams %R (14) | -2.20 | Bearish |
| CCI (20) | 136.2 | Bearish |
Pivot points (classic, last session)
S3 100.1 | S2 100.9 | S1 102.2 | Pivot 102.9 | R1 104.2 | R2 105.0 | R3 106.2 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
3.64 USD
Yield on today's price
3.52%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 3 Aug 2026 | 0.9100 |
| 4 May 2026 | 0.9100 |
| 2 Feb 2026 | 0.9100 |
| 3 Nov 2025 | 0.9100 |
| 1 Aug 2025 | 0.8950 |
| 5 May 2025 | 0.8950 |
| 3 Feb 2025 | 0.8950 |
| 4 Nov 2024 | 0.8950 |
| 1 Aug 2024 | 0.8800 |
| 30 Apr 2024 | 0.8800 |
| 31 Jan 2024 | 0.8800 |
| 31 Oct 2023 | 0.8800 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
PNW SEC filings
30 Sep 2026
8-KSEC EDGAR
Regulation FD disclosure
4 Sep 2026
8-KSEC EDGAR
Regulation FD disclosure
13 Aug 2026
8-KSEC EDGAR
Current report
7 Aug 2026
8-KSEC EDGAR
Regulation FD disclosure
4 Aug 2026
8-KSEC EDGAR
Entered a material agreement
4 Aug 2026
424B5SEC EDGAR
424B5
4 Aug 2026
10-QSEC EDGAR
Quarterly report
4 Aug 2026
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.