Pinnacle West is currently navigating a critical transition as rapid industrialization in the Phoenix metropolitan area necessitates massive grid investment, evidenced by a $628.4 million quarterly capital expenditure in 2026Q1. While this expansion supports l...
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Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth accelerated to 11.4% in 2026Q1, though operating margins remain highly sensitive to seasonal demand, fluctuating from 5.5% in 2025Q1 to 34.9% in 2026Q1.
Pinnacle West has demonstrated robust retail sales growth of 5.2% and a 2.4% increase in its customer base in a recent quarter. Management has reaffirmed a long-term outlook of 4-6% sales growth and 1.5-2.5% customer growth.
Upcoming transmission projects are expected to provide additional positive impacts, supported by favorable economic conditions.
In 2025, Pinnacle West Capital's revenue increased by 4.20% to $5.34 billion, and earnings rose by 1.27%. The company reported solid 2025 results, with full-year net income of $616.5 million, up from $608.8 million in 2024, driven by customer growth, higher electricity usage, and increased transmission revenues.
Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 4, 2026 | $1.43-2.1% vs $1.46 | $1.5B+4.2% vs $1.4B |
Q2 2026 May 4, 2026 | $0.27+1000.0% vs -$0.03 | $1.1B+6.0% vs $1.1B |
Q1 2026 Feb 25, 2026 | $0.13+160.0% vs $0.05 | $1.1B-3.6% vs $1.2B |
Q4 2025 Nov 3, 2025 | $3.39+11.5% vs $3.04 | $1.8B+55.7% vs $1.2B |
California State Teachers Retirement System grew its position in shares of Pinnacle West Capital Corporation (NYSE: PNW) by 10,353.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,979,144 shares of the utilities provider's stock after acquiring an additional
Hsbc Holdings PLC decreased its position in shares of Pinnacle West Capital Corporation (NYSE: PNW) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 606,558 shares of the utilities provider's stock after selling 44,376 shares during the period. Hsbc Holdings
Pinnacle West Capital, MGE Energy and Vestas Wind Systems offer exposure to expanding wind capacity, clean-energy investment and strong turbine demand.
Pinnacle West (PNW) reported earnings 30 days ago. What's next for the stock?
Benchmark PNW against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Pinnacle West Capital Corporation (PNW)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $93.15 | $11.29B | 18.45 | 4.2% | 11.55% | 8.84% | 3.72% | |
| $101.66 | $28.13B | 19.00 | 15.43% | 17.86% | 11.59% | — | |
| $102.83 | $33.49B | 21.29 | 13.96% | 16.69% | 11.84% | — | |
| $79.27 | $18.27B | 21.66 | 1.65% | 15.26% | 9.01% | — | |
| $69.87 | $4.3B | 23.77 | 6.38% | 10.13% | 5.92% | — | |
| $130.33 | $7.22B | 22.09 | -0.75% | 18.8% | 9.34% | — |
Pinnacle West Capital Corporation (PNW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Pinnacle West Capital Corporation (PNW) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 4, 2026·SEC
Aug 4, 2026·SEC
Jun 29, 2026·SEC
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Pinnacle West Capital Corporation (PNW) stock FAQ — growth, dividends, profitability & financials explained
Pinnacle West Capital Corporation (PNW) reported $5.55B in revenue for fiscal year 2025. This represents a 206% increase from $1.82B in 1996.
Pinnacle West Capital Corporation (PNW) grew revenue by 4.2% over the past year. Growth has been modest.
Yes, Pinnacle West Capital Corporation (PNW) is profitable, generating $640.1M in net income for fiscal year 2025 (11.5% net margin).
Yes, Pinnacle West Capital Corporation (PNW) pays a dividend with a yield of 3.72%. This makes it attractive for income-focused investors.
Pinnacle West Capital Corporation (PNW) has a return on equity (ROE) of 8.8%. This is below average, suggesting room for improvement.
Pinnacle West Capital Corporation (PNW) had negative free cash flow of $878.5M in fiscal year 2025, likely due to heavy capital investments.
Pinnacle West Capital Corporation (PNW) has a dividend payout ratio of 69%. This suggests the dividend is well-covered and sustainable.
