Company research
PINNACLE WEST CAPITAL CORP
CIK 764622Updated Sep 27, 2026
SecurityPNW · NYSE · equity
PNW price & chart
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Recent filings
Regulation FD Disclosure
Items 7.01, 9.01
Financial Statements and Exhibits
Items 9.01
SCHEDULE 13G filing
Regulation FD Disclosure
Items 7.01, 9.01
144 filing
Show 5 more recent filings
144 filing
Entry into a Material Definitive Agreement
Items 1.01, 9.01
424B5 filing
Results of Operations and Financial Condition · Regulation FD Disclosure
Items 2.02, 7.01, 9.01
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Items 5.02, 9.01
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 30,031,599,000Source | 26,102,760,000Source | 24,661,153,000Source | 22,723,405,000Source |
| Property, Plant and Equipment, NetUSD | 18,358,275,000Source | 16,833,524,000Source | 15,803,127,000Source | 14,522,268,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 575,978,000Source | 591,310,000Source | 267,110,000Source | 258,880,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 6,604,000Source | 3,838,000Source | 4,955,000Source | 4,832,000Source |
| Assets, CurrentUSD | 1,703,709,000Source | 1,689,404,000Source | 1,926,967,000Source | 1,750,554,000Source |
| Operating Lease, Right-of-Use AssetUSD | 3,649,669,000Source | 1,605,463,000Source | 1,309,975,000Source | 801,688,000Source |
| Other Assets, NoncurrentUSD | 144,997,000Source | 115,095,000Source | 102,845,000Source | 125,672,000Source |
| LIABILITIES AND EQUITY | ||||
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | 3,231,372,000Source | 3,121,617,000Source | 2,752,676,000Source | 2,724,740,000Source |
| Retained Earnings (Accumulated Deficit)USD | 3,850,817,000Source | 3,666,959,000Source | 3,466,317,000Source | 3,360,347,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -32,408,000Source | -30,942,000Source | -33,144,000Source | -31,435,000Source |
| Stockholders' Equity Attributable to ParentUSD | 7,046,458,000Source | 6,754,311,000Source | 6,177,664,000Source | 6,048,647,000Source |
| Liabilities and EquityUSD | 30,031,599,000Source | 26,102,760,000Source | 24,661,153,000Source | 22,723,405,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 3,161,026,000Source | 2,843,797,000Source | 2,889,347,000Source | 1,762,141,000Source |
| Operating Lease, Liability, CurrentUSD | 188,586,000Source | 100,367,000Source | 67,883,000Source | 105,210,000Source |
| Accounts Payable, CurrentUSD | 680,203,000Source | 485,426,000Source | 442,455,000Source | 430,425,000Source |
| Operating Lease, Liability, NoncurrentUSD | 3,548,365,000Source | 1,520,877,000Source | 1,210,189,000Source | 639,247,000Source |
| Deferred Income Tax Liabilities, NetUSD | 2,470,932,000Source | 2,444,473,000Source | 2,416,480,000Source | 2,384,421,000Source |
| Other Liabilities, NoncurrentUSD | 249,171,000Source | 242,320,000Source | 251,469,000Source | 252,149,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 40,617,000Source | 103,167,000Source | 107,198,000Source | 111,229,000Source |
| Additional Financial Items | ||||
| Deferred Tax Liabilities, NetUSD | 2,470,932,000Source | 2,444,473,000Source | 2,416,480,000Source | 2,384,421,000Source |
| Dividends Payable, CurrentUSD | 110,022,000Source | 106,592,000Source | 99,813,000Source | 97,895,000Source |
| Dividends PayableUSD | 110,022,000Source | 106,592,000Source | 99,813,000Source | 97,895,000Source |
| Long-term Debt, Current MaturitiesUSD | 600,000,000Source | 800,000,000Source | — | — |
| Long-term Debt, Excluding Current MaturitiesUSD | 9,205,676,000Source | 8,058,648,000Source | 7,540,622,000Source | 7,741,286,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 631,643,000Source | 626,030,000Source | 518,781,000Source | 500,826,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 969,615,000Source | 956,184,000Source | 854,136,000Source | 817,814,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 27,457,000Source | 23,532,000Source | 17,341,000Source | 15,942,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in InventoriesUSD | 63,711,000Source | 7,895,000Source | 42,911,000Source | 83,469,000Source |
| Increase (Decrease) in Accounts PayableUSD | 171,138,000Source | -7,214,000Source | -75,623,000Source | 90,076,000Source |
| Deferred Income Tax Expense (Benefit)USD | -50,850,000Source | -20,923,000Source | -24,310,000Source | 43,202,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 1,805,095,000Source | 1,609,823,000Source | 1,207,697,000Source | 1,241,441,000Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -2,378,674,000Source | -1,933,630,000Source | -1,694,249,000Source | -1,618,046,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | 8,912,000Source | 8,413,000Source | 6,458,000Source | 15,612,000Source |
| Cash flows from financing activities: | ||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 576,345,000Source | 322,690,000Source | 486,675,000Source | 371,468,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 422,792,000Source | 394,663,000Source | 386,486,000Source | 378,881,000Source |
| Repayments of Long-term DebtUSD | — | — | 32,740,000Source | 150,000,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 2,766,000Source | -1,117,000Source | 123,000Source | -5,137,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 6,604,000Source | 3,838,000Source | 4,955,000Source | 4,832,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 388,540,000Source | 360,349,000Source | 310,996,000Source | 245,271,000Source |
| Income Taxes Paid, NetUSD | 22,754,000Source | 133,968,000Source | 8,788,000Source | 46,227,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 27,000,000Source | 24,000,000Source | 17,000,000Source | 16,000,000Source |
| Amortization of Intangible AssetsUSD | 157,000,000Source | 136,000,000Source | 90,000,000Source | 84,000,000Source |
| Asset Retirement Obligation, Accretion ExpenseUSD | 64,552,000Source | 56,143,000Source | 44,269,000Source | — |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on DisposalUSD | 0Source | 22,988,000Source | 6,423,000Source | — |
| Dividends Payable, CurrentUSD | 110,022,000Source | 106,592,000Source | 99,813,000Source | 97,895,000Source |
| Dividends PayableUSD | 110,022,000Source | 106,592,000Source | 99,813,000Source | 97,895,000Source |
| Gain (Loss) on InvestmentsUSD | 26,720,000Source | — | 6,205,000Source | 0Source |
| Gain (Loss) on Sale of InvestmentsUSD | 0Source | -1,418,000Source | -3,402,000Source | -20,537,000Source |
| Income Tax Expense (Benefit)USD | 106,726,000Source | 110,529,000Source | 76,912,000Source | 74,827,000Source |
| InterestExpenseNonoperatingUSD | 421,968,000Source | 377,472,000Source | — | — |
| Investment Income, InterestUSD | 18,037,000Source | 24,322,000Source | 27,242,000Source | 7,326,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 15,112,000Source | 17,224,000Source | 17,224,000Source | 17,224,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 616,531,000Source | 608,806,000Source | 501,557,000Source | 483,602,000Source |
| Nonoperating Income (Expense)USD | 92,707,000Source | 101,968,000Source | 102,376,000Source | 99,281,000Source |
| Proceeds from Issuance of Common StockUSD | — | — | -4,093,000Source | -2,653,000Source |
| Proceeds from Issuance of Long-term DebtUSD | — | — | 689,349,000Source | 875,537,000Source |
| Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of EquityUSD | 61,146,000Source | 38,620,000Source | 53,118,000Source | 45,263,000Source |
| Unrealized Gain (Loss) on DerivativesUSD | 0Source | 0Source | 777,000Source | -777,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 5,339,939,000Source | 5,124,915,000Source | 4,695,991,000Source | 4,324,385,000Source |
| Operating Income (Loss)USD | 1,067,630,000Source | 1,012,063,000Source | 824,640,000Source | 731,911,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 738,369,000Source | — | — | — |
| Income Tax Expense (Benefit)USD | 106,726,000Source | 110,529,000Source | 76,912,000Source | 74,827,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 15,112,000Source | 17,224,000Source | 17,224,000Source | 17,224,000Source |
| Earnings Per Share, BasicUSD per share | 5.15Source | 5.35Source | 4.42Source | 4.27Source |
| Earnings Per Share, DilutedUSD per share | 5.05Source | 5.24Source | 4.41Source | 4.26Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 119,687,000Source | 113,846,000Source | 113,442,000Source | 113,196,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 121,971,000Source | 116,232,000Source | 113,804,000Source | 113,416,000Source |
| Interest Expense (non-operating)USD | 421,968,000Source | 377,472,000Source | — | — |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 157,000,000Source | 136,000,000Source | 90,000,000Source | 84,000,000Source |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 3.61Source | 3.55Source | 3.49Source | 3.43Source |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and AmortizationUSD | 1,933,420,000Source | 1,822,566,000Source | 1,792,657,000Source | 1,629,343,000Source |
| Cost, Depreciation and AmortizationUSD | 915,343,000Source | 895,346,000Source | 794,043,000Source | 753,195,000Source |
| Costs and ExpensesUSD | 4,272,309,000Source | 4,112,852,000Source | 3,871,351,000Source | 3,592,474,000Source |
| Current Income Tax Expense (Benefit)USD | 98,805,000Source | 139,734,000Source | 24,126,000Source | 37,567,000Source |
| Gain (Loss) on InvestmentsUSD | 26,720,000Source | — | 6,205,000Source | 0Source |
| Interest ExpenseUSD | — | — | 331,323,000Source | 255,539,000Source |
| Investment Income, InterestUSD | 18,037,000Source | 24,322,000Source | 27,242,000Source | 7,326,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 616,531,000Source | 608,806,000Source | 501,557,000Source | 483,602,000Source |
| Nonoperating Income (Expense)USD | 92,707,000Source | 101,968,000Source | 102,376,000Source | 99,281,000Source |
| Other Cost and Expense, OperatingUSD | 3,684,000Source | 2,389,000Source | 1,913,000Source | 2,494,000Source |
| Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of EquityUSD | 61,146,000Source | 38,620,000Source | 53,118,000Source | 45,263,000Source |
| Taxes, MiscellaneousUSD | 234,797,000Source | 227,395,000Source | 224,013,000Source | 220,370,000Source |
Filing attachments
tm2622461d5_ex4-2.htm · 8-K · 2026-08-13
EX-4.2 3 tm2622461d5_ex4-2.htm EXHIBIT 4.2 Exhibit 4.2 ARIZONA PUBLIC SERVICE COMPANY TO THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. As Trustee under Arizona Public Service Company’s Indenture dated as of January 15, 1998 Thirty-Fourth Supplemental Indenture Dated as of August 13, 2026 6.25% Notes due 2056 This THIRTY-FOURTH SUPPLEMENTAL INDENTURE, dated as of August 13, 2026, is between Arizona Public Service Company, a corporation duly organized and existing under the laws of t…
Read attachment ↗tm2622461d5_ex4-4.htm · 8-K · 2026-08-13
EX-4.4 4 tm2622461d5_ex4-4.htm EXHIBIT 4.4 Exhibit 4.4 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ARIZONA PUBLIC SERVICE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY A…
Read attachment ↗tm2622461d5_ex99-1.htm · 8-K · 2026-08-13
EX-99.1 6 tm2622461d5_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Item 14. Other Expenses of Issuance and Distribution. The expenses, other than underwriting discounts and commissions, to be incurred by Arizona Public Service Company (“APS”) relating to the offering of $100,000,000 principal amount of its 5.50% Notes due 2035 and $600,000,000 principal amount of its 6.25% Notes due 2056, under APS’s Registration Statement on Form S-3 (No. 333-277448-01) and a related prospectus supplement filed w…
Read attachment ↗tm2616946d1_ex4-1.htm · 8-K · 2026-06-05
EX-4.1 3 tm2616946d1_ex4-1.htm EXHIBIT 4.1 Exhibit 4.1 PINNACLE WEST CAPITAL CORPORATION TO THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. As Trustee under Pinnacle West Capital Corporation’s Indenture dated as of December 1, 2000 (For Senior Securities) Seventh Supplemental Indenture Dated as of June 5, 2026 4.650% Senior Notes due 2029 This SEVENTH SUPPLEMENTAL INDENTURE, dated as of June 5, 2026, is between Pinnacle West Capital Corporation, a corporation duly organized and exist…
Read attachment ↗tm2616946d1_ex4-2.htm · 8-K · 2026-06-05
EX-4.2 4 tm2616946d1_ex4-2.htm EXHIBIT 4.2 Exhibit 4.2 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO PINNACLE WEST CAPITAL CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTIT…
Read attachment ↗tm2616946d1_ex99-1.htm · 8-K · 2026-06-05
EX-99.1 6 tm2616946d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Item 14. Other Expenses of Issuance and Distribution. The expenses, other than underwriting discounts and commissions, to be incurred by Pinnacle West Capital Corporation (the “Company”) relating to the offering of $500,000,000 principal amount of its 4.650% Senior Notes due 2029, under the Company’s Registration Statement on Form S-3 (No. 333-277448) and a related prospectus supplement filed with the Securities and Exchange Commis…
Read attachment ↗