Pinnacle West Capital Corporation (PNW) Financial Statements
Pinnacle West Capital financial statements at a glance
Pinnacle West Capital reported revenue of $5.34 billion for fiscal year 2025 (ended December 31, 2025), up 4.2% from fiscal year 2024. Net income was $616.53 million, a net margin of 11.5%.
At the end of fiscal year 2025 it had total assets of $30.03 billion, total liabilities of $22.99 billion and shareholders' equity of $7.05 billion, with total debt of $10.56 billion.
Its operations brought in $1.81 billion of cash.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Pinnacle West Capital Corporation
Income Statement
Annual • USD
Pinnacle West Capital key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $5.3B | $5.1B | $4.7B | $4.3B | $3.8B |
| Gross profit | – | – | – | – | $1.7B |
| Operating income | $1.1B | $1.0B | $824.6M | $731.9M | $805.3M |
| Net income | $616.5M | $608.8M | $501.6M | $483.6M | $618.7M |
| Diluted EPS | – | – | – | – | $5.47 |
| Total assets | $30.0B | $26.1B | $24.7B | $22.7B | $22.0B |
| Total liabilities | $23.0B | $19.3B | $18.5B | $16.7B | $16.0B |
| Shareholders' equity | $7.0B | $6.8B | $6.2B | $6.0B | $5.9B |
| Cash | – | – | – | – | $10.0M |
| Total debt | $10.6B | $9.4B | $9.0B | $8.1B | $8.2B |
| Operating cash flow | $1.8B | $1.6B | $1.2B | $1.2B | $860.0M |
| Capital spending | – | – | – | – | $1.5B |
| Free cash flow | – | – | – | – | -$613.5M |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2021.
Questions and answers
What was Pinnacle West Capital's revenue in fiscal year 2025?
$5.34 billion, up 4.2% from $5.12 billion in fiscal year 2024.
How much profit does Pinnacle West Capital make?
Pinnacle West Capital reported net income of $616.53 million for fiscal year 2025 (11.5% of revenue); operating income was $1.07 billion.
How much cash and debt does Pinnacle West Capital have?
At the end of fiscal year 2025: total debt of $10.56 billion.
