Stocks · Utilities · Regulated Electric

Pinnacle West Capital Corporation PNW

$95.96 +0.04% Close, Oct 5, 2026 · NYSE · Market cap $11.62B

High qualityStrong trendLow risk

Next earnings report: Nov 2, 2026

Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.

Three things to know

  1. Operating margin widened to 27.0% from 19.0% a year earlier.
  2. Net debt is 5.2× EBITDA, a high level of leverage.
  3. The stock is in a downtrend: below its 200-day average, with the 50-day average below the 200-day.

PromtFinance scores

Each score is a percentile within the Utilities sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.

Growth67Positive

How fast revenue, earnings and cash flow are growing.

  • Revenue growth (TTM, YoY)Bottom 31%
  • EPS growth (TTM, YoY)Top 41%
  • Revenue growth, 3-year CAGRTop 24%
  • Revenue growth accelerationTop 31%
Quality91Exceptional

Returns on capital, margins, earnings quality and balance-sheet strength.

  • Return on invested capitalTop 42%
  • Gross marginTop 30%
  • Operating marginTop 20%
  • Cash conversion (OCF / net income)Top 18%
  • Accruals (lower is better)Top 41%
  • Net debt / EBITDA (lower is better)Top 45%
  • Interest coverTop 19%
Value43Weak

How cheap the shares are relative to earnings, cash flow and their own history.

  • Earnings yieldTop 47%
  • Free-cash-flow yieldBottom 39%
  • EBITDA / enterprise valueTop 40%
  • Sales / enterprise valueTop 44%
  • P/E vs own 5-year history (lower is better)Bottom 16%
Momentum89Strong

Strength and persistence of the price trend, including versus the S&P 500.

  • 12-month return excluding last monthTop 18%
  • 6-month returnTop 29%
  • 1-year return vs S&P 500Top 7%
  • Distance from 52-week highTop 21%
  • Trend checklist (0–4)Top 24%
Revisions18Very weak

Earnings surprises and analyst sentiment (estimate-revision history is being collected).

  • Average EPS surprise, last 4 quartersTop 1%
  • Consecutive EPS beatsBottom 14%
  • Share of analysts rating BuyBottom 19%
  • Upside to consensus price targetBottom 11%
Stability81Strong

Low volatility, shallow drawdowns, low market sensitivity and modest leverage.

  • Volatility, 60 days (lower is better)Top 33%
  • Maximum drawdown, 3 yearsTop 15%
  • Beta vs S&P 500 (lower is better)Top 44%
  • Net debt / EBITDA (lower is better)Top 45%

What changed

Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).

MeasureBeforeNow
Revenue growth (YoY)4.8%5.7%↑
EPS growth (YoY)6.6%7.4%↑
Gross margin40.9%55.5%↑
Operating margin19.0%27.0%↑
FCF margin-15.1%-15.8%↓

Fundamental momentum

MeasureNow (TTM)Year / quarter beforeSector rank
Revenue growth (TTM, YoY)5.7%4.8%↑Bottom 31%
EPS growth (TTM, YoY)7.4%6.6%↑Top 41%
Gross margin55.5%40.9%↑Top 30%
Operating margin27.0%19.0%↑Top 20%
Net margin11.5%11.0%↑—
Free-cash-flow margin-15.8%-15.1%↓—
Return on invested capital4.2%—Top 42%
Revenue growth, 3-year CAGR7.3%—Top 24%

Quality of earnings and balance sheet

Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
2.77×
Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
-3.5%
Stock-based compensation / revenueA cost to shareholders through dilution.
0.2%
Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
+20.4 pp
Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
5.20×
Interest cover (operating income / interest)How many times operating profit covers interest.
3.2×

Shareholder returns

Dividend yield (dividends paid, TTM)
3.71%
Net buyback yield (TTM)
-0.72%
Shareholder yield
2.99%
Share count change, 1 year
+2.2%
Share count change, 3-year CAGR
+3.1%

Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.

Based on the four quarters through Jun 30, 2026 (filed Aug 4, 2026).

Earnings and expectations

Earnings momentum

Consecutive EPS beats
0
Beats in the last 8 reports
4 of 8
Average EPS surprise, last 4
+100.0%
Average 2-day reaction, last 8
+0.4%
Positive 20 days after report
3 of 8

Analysts

Consensus price target
$104.75
Target vs current price
+9.2%
Analysts with a rating
25
Share rating Buy or Strong Buy
28%
Consensus rating
Hold

How the stock reacted to recent reports

Report dateEPS surprise2 days5 days20 days60 days
Aug 4, 2026-2.1%+0.6%-1.6%-3.1%—
May 4, 2026+1000.0%-1.7%-4.1%-5.9%-1.2%
Feb 25, 2026+160.0%-0.3%+1.9%-2.1%+1.9%
Nov 3, 2025+11.5%+1.1%-0.6%+0.9%+5.1%
Aug 6, 2025+0.0%+0.2%+0.1%-3.9%-3.5%
May 1, 2025-180.0%-1.9%-1.4%-4.6%-6.8%
Feb 25, 2025+80.6%+1.1%+2.2%+1.1%+0.5%
Nov 6, 2024-3.4%+3.9%+4.9%+6.2%+0.5%

Returns from the close before each report. Past reactions do not determine future ones.

Earnings history

Report dateEPSEstimateSurpriseRevenue
Aug 4, 2026$1.43$1.46-2.1%$1.46B
May 4, 2026$0.27-$0.03+1000.0%$1.15B
Feb 25, 2026$0.13$0.05+160.0%$1.13B
Nov 3, 2025$3.39$3.04+11.5%$1.82B
Aug 6, 2025$1.58$1.58+0.0%$1.36B
May 1, 2025-$0.04$0.05-180.0%$1.03B
Feb 25, 2025-$0.06-$0.31+80.6%$1.10B
Nov 6, 2024$3.37$3.49-3.4%$1.77B

Valuation in context

MultipleNow5-year median5-year percentileSector rank (cheapness)
P/E (trailing)18.4×17.4×67thTop 47%
P/E (forward)20.3×———
EV / EBITDA10.5×——Top 40%
EV / Sales4.14×——Top 44%
Free-cash-flow yield-7.56%——Bottom 39%
Earnings yield5.43%——Top 47%

P/E over the past five years

Range 12.8× – 22.1× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.

What moved the stock over the past year

Price return, 1 year
+9.2%
Earnings per share growth (TTM)
+7.4%
Change in P/E multiple
+2.0%

Most of the move came from earnings growth.

Technical state

Trend checklist

  • ✓ Price above 20-day average
  • ✗ Price above 50-day average
  • ✗ Price above 200-day average
  • ✗ 50-day average above 200-day
  • ✓ MACD histogram positive

Trend quality

Days above the 50-day average
0
Days above the 200-day average
0
50-day average slope (20 days)
-5.0%
200-day average slope (20 days)
+0.6%
Distance from 50-day average
-1.8%
Distance from 200-day average
-3.2%
RSI (14)
52.9
Relative volume
1.11×

Risk and drawdowns

Volatility, 60 days (annualized)
15.2%
Volatility vs own 5-year history
7th percentile · Low for this stock
Beta vs S&P 500 (2 years, weekly)
0.16
Correlation with S&P 500
0.14
Current drawdown from 1-year high
-12.3%
Maximum drawdown, 3 years
-16.7%

Largest declines in the past six years

From peakTo lowDeclineLengthRecovery
Nov 10, 2020Oct 12, 2022-34.3%483 days483 days (Sep 16, 2024)
Jul 2, 2026Sep 24, 2026-16.7%58 daysNot yet recovered
Nov 27, 2024Jan 10, 2025-13.5%28 days54 days (Mar 31, 2025)
Apr 2, 2025Sep 18, 2025-10.0%116 days100 days (Feb 11, 2026)

Declines of 10% or more from a closing high, measured on daily closes.

Financial statements

Market cap
$11.62B
P/E (TTM)
18.4
EPS, diluted (TTM)
$5.21
Revenue (TTM)
$5.55B
Dividend yield
3.79%
52-week range
$86.18 – $111.16
FY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$3.80B$4.32B$4.70B$5.12B$5.34B
Gross profit$1.70B$1.71B$1.84B$2.14B$1.36B
Operating income$805.3M$731.9M$824.6M$1.01B$1.12B
Net income$618.7M$483.6M$501.6M$608.8M$616.5M
EPS (diluted)$5.47$4.26$4.41$5.24$5.05
Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
Revenue$1.77B$1.10B$1.03B$1.36B$1.82B$1.13B$1.15B$1.46B
Net income$395.0M-$6.8M-$4.6M$192.6M$413.2M$15.4M$32.9M$178.6M
EPS (diluted)$3.37-$0.06-$0.04$1.58$3.39$0.12$0.27$1.43
FY 2021FY 2022FY 2023FY 2024FY 2025
Operating cash flow$860.0M$1.24B$1.21B$1.61B$1.81B
Capital expenditure-$1.47B-$1.71B-$1.85B-$2.25B-$2.62B
Free cash flow-$613.5M-$466.0M-$638.7M-$639.4M-$819.5M
Dividends paid-$369.5M-$378.9M-$386.5M-$394.7M-$422.8M
Net share buybacks-$2.4M-$2.7M-$4.1M$341.4M$84.6M

Cash outflows are shown as negative numbers.

Cash and short-term investments
$9.1M
Total assets
$32.58B
Total liabilities
$25.50B
Total debt
$11.37B
Net debt
$11.36B
Shareholders’ equity
$7.03B

As of Jun 30, 2026 (filed Aug 4, 2026).

Dividends

Ex-dateAmountPaid
Aug 3, 2026$0.91Sep 1, 2026
May 4, 2026$0.91Jun 1, 2026
Feb 2, 2026$0.91Mar 2, 2026
Nov 3, 2025$0.91Dec 1, 2025
Aug 1, 2025$0.90Sep 2, 2025
May 5, 2025$0.90Jun 2, 2025
Feb 3, 2025$0.90Mar 3, 2025
Nov 4, 2024$0.90Dec 2, 2024

Short interest

Shares sold short
10,345,769
Days to cover
12.53
Change vs previous report
+6.2%

FINRA short interest, settlement date Sep 15, 2026.

Stock splits

Apr 28, 2011
10-for-1