Pinnacle West Capital Corporation (PNW) Earnings History
Annual and quarterly earnings data from 1994 to 2025
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PNW EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
PNW Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 25.4% | 20.9% | 11.5% |
| 2024 | 41.7% | 19.7% | 11.9% |
| 2023 | 39.3% | 17.6% | 10.7% |
| 2022 | 39.5% | 16.9% | 11.2% |
| 2021 | 44.6% | 21.2% | 16.3% |
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Pinnacle West Capital Corporation (PNW) Earnings Overview
As of May 8, 2026, Pinnacle West Capital Corporation (PNW) reported trailing twelve-month net income of $654M, reflecting -3.6% year-over-year growth. The company earned $5.28 per diluted share over the past four quarters, with a net profit margin of 11.5%.
Looking at the long-term picture, PNW's 5-year EPS compound annual growth rate (CAGR) stands at +0.7%, reflecting modest earnings expansion. The company achieved its highest annual net income of $619M in fiscal 2021.
Pinnacle West Capital Corporation maintains positive profitability with a gross margin of 25.4%, operating margin of 20.9%, and net margin of 11.5%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including AEE ($1.52B net income, 16.5% margin), WEC ($1.64B net income, 15.9% margin), EVRG ($882M net income, 14.5% margin), PNW has room to improve margins relative to the peer group. Compare PNW vs AEE →
PNW Earnings vs Peers
Earnings metrics vs comparable public companies
PNW Historical Earnings Data (1994–2025)
32 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $617M | +1.3% | $1.12B | $5.05 | 11.5% | 20.9% |
| 2024 | $609M | +21.4% | $1.01B | $5.24 | 11.9% | 19.7% |
| 2023 | $502M | +3.7% | $825M | $4.41 | 10.7% | 17.6% |
| 2022 | $484M | -21.8% | $732M | $4.26 | 11.2% | 16.9% |
| 2021 | $619M | +12.4% | $805M | $5.47 | 16.3% | 21.2% |
| 2020 | $551M | +2.3% | $788M | $4.87 | 15.3% | 22.0% |
| 2019 | $538M | +5.3% | $672M | $4.77 | 15.5% | 19.4% |
| 2018 | $511M | +4.6% | $774M | $4.54 | 13.8% | 21.0% |
| 2017 | $488M | +10.5% | $910M | $4.35 | 13.7% | 25.5% |
| 2016 | $442M | +1.1% | $836M | $3.95 | 12.6% | 23.9% |
Full PNW Stock Analysis
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Start ComparisonPNW — Frequently Asked Questions
Quick answers to the most common questions about buying PNW stock.
Is PNW growing earnings?
PNW EPS of $5.28 reflects slowing growth at -3.6%, below the 5-year CAGR of +0.7%. TTM net income is $654M. Expansion rate has moderated.
What are PNW's profit margins?
Pinnacle West Capital Corporation net margin is +11.5%, with operating margin at +20.9%. Margins sit within typical range for the sector.
How consistent are PNW's earnings?
PNW earnings data spans 1994-2025. The current earnings trend is -3.6% YoY. Historical data enables comparison across business cycles.