Annual Financials for Pinnacle West Capital Corporation (PNW)

20 Years of financial data for all companies
Including key metrics, annual/quarterly financials, and historic PE ratio.



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All numbers in thousands except per share items and ratios.
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Reported Currency: USD TTM 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31
Revenue 4,713,731 4,324,385 3,803,835 3,586,982 3,471,209 3,691,247 3,565,296 3,498,682 3,495,443 3,491,632 3,454,628 3,301,804 3,241,379 3,263,645 3,297,101 3,367,076 3,523,620 3,401,748 2,987,955 2,899,725 2,817,852
Revenue Growth - 13.68% 6.05% 3.34% -5.96% 3.53% 1.90% 0.09% 0.11% 1.07% 4.63% 1.86% -0.68% -1.01% -2.08% -4.44% 3.58% 13.85% 3.04% 2.91%
Cost of Revenue 2,921,111 2,616,415 2,106,618 1,952,329 1,983,853 2,112,860 1,905,744 1,986,829 1,969,675 2,087,854 2,020,436 1,879,559 1,009,464 1,046,815 1,281,001 1,478,813 1,435,159 1,251,286 888,232 949,580 862,181
Gross Profit 1,792,620 1,707,970 1,697,217 1,634,653 1,487,356 1,578,387 1,659,552 1,511,853 1,525,768 1,403,778 1,434,192 1,422,245 2,231,915 2,216,830 2,016,100 1,888,263 2,088,461 2,150,462 2,099,723 1,950,145 1,955,671
Gross Profit Margin 36.48% 39.50% 44.62% 45.57% 42.85% 42.76% 46.55% 43.21% 43.65% 40.20% 41.52% 43.07% 68.86% 67.92% 61.15% 56.08% 59.27% 63.22% 70.27% 67.25% 69.40%
Research and Development 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
General and Administrative Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 66,897 342,371 330,742 351,558 461,870 391,886
Total Operating Expenses 1,005,609 976,059 891,907 846,501 815,396 804,700 725,125 655,869 671,166 592,536 587,869 570,490 1,485,407 1,492,946 1,435,874 1,357,717 1,469,210 1,531,592 1,584,434 1,443,886 1,473,617
Operating Income or Loss 787,011 731,911 805,310 788,152 671,960 773,687 934,427 855,984 854,602 811,242 846,323 851,755 746,508 723,884 321,773 477,296 619,251 618,870 515,289 506,259 482,054
Operating Margin 14.22% 16.93% 21.17% 21.97% 19.36% 20.96% 26.21% 24.47% 24.45% 23.23% 24.50% 25.80% 23.03% 22.18% 9.76% 14.18% 17.57% 18.19% 17.25% 17.46% 17.11%
Interest Expense 313,638 255,539 233,262 228,971 216,723 218,285 197,684 185,750 178,705 185,493 187,027 199,645 223,637 227,635 223,114 197,470 212,620 196,826 185,087 195,859 204,590
EBITDA 1,656,898 1,624,280 1,588,430 1,457,798 1,318,261 1,412,762 1,451,012 1,327,377 1,411,144 1,216,462 1,328,036 1,317,234 1,242,142 1,202,724 1,027,562 920,904 1,035,992 1,273,618 900,249 905,331 933,965
Depreciation and Amortization 843,796 892,369 783,120 669,646 646,301 582,354 534,118 485,829 571,664 417,358 492,322 481,262 493,784 472,807 443,160 390,358 403,896 652,097 381,604 431,551 466,900
Income Before Tax 560,187 575,653 746,030 648,225 542,040 664,442 766,221 697,938 693,910 644,401 670,557 656,310 539,238 514,919 105,058 278,964 449,700 473,561 350,055 364,075 336,136
Income Tax Expense 65,375 74,827 110,086 78,173 -15,773 133,902 258,272 236,411 237,720 220,705 230,591 237,317 183,604 164,321 37,827 65,407 150,920 156,418 126,892 128,857 105,560
Net Income 486,200 483,602 618,720 550,559 538,320 511,047 488,456 442,034 437,257 397,595 406,074 381,542 339,473 350,053 68,330 242,125 307,143 327,255 176,267 243,195 240,579
Net Income Margin 7.99% 11.18% 16.27% 15.35% 15.51% 13.84% 13.70% 12.63% 12.51% 11.39% 11.75% 11.56% 10.47% 10.73% 2.07% 7.19% 8.72% 9.62% 5.90% 8.39% 8.54%
EPS 4.29 4.27 5.48 4.89 4.79 4.56 4.37 3.97 3.94 3.59 3.69 3.48 3.11 3.28 0.68 2.40 3.06 3.29 1.83 2.66 2.64
EPS Diluted 4.28 4.26 5.47 4.87 4.77 4.54 4.35 3.95 3.92 3.58 3.66 3.45 3.09 3.27 0.67 2.40 3.05 3.27 1.82 2.66 2.63
Weighted Average Shares Out - 113,196 112,910 112,666 112,443 112,129 111,839 111,409 111,026 110,626 109,984 109,510 109,053 106,573 101,161 100,691 100,256 99,417 96,321 91,427 91,265
Weighted Average Shares Out Diluted - 113,416 113,192 112,942 112,758 112,550 112,367 112,046 111,552 111,178 110,806 110,527 109,864 107,138 101,264 100,965 100,835 100,010 96,850 91,427 91,405

Reported Currency: USD Q3 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31
Current Assets
Cash and Cash Equivalents 15,108 4,832 9,969 59,968 10,283 5,766 13,892 8,881 39,488 7,604 9,526 26,202 33,583 110,188 145,378 105,245 56,321 87,210 154,003 163,366 228,779
Short Term Investments 0 5,709,822 0 0 0 0 4,693,102 4,396,754 4,164,527 3,959,755 3,826,831 3,666,509 3,556,674 3,334,872 2,928,999 2,771,781 3,214,134 3,162,948 0 0 0
Cash + Short Term Investments 15,108 4,832 9,969 59,968 10,283 5,766 13,892 8,881 39,488 7,604 9,526 26,202 33,583 110,188 145,378 105,245 56,321 87,210 154,003 163,366 228,779
Net Receivables 871,286 608,281 508,063 432,783 408,147 400,988 415,068 359,154 368,395 398,277 529,014 371,153 412,140 422,001 432,738 389,388 451,225 496,031 497,702 362,967 365,732
Inventory 493,829 450,636 367,167 334,297 345,920 294,094 289,270 282,587 279,931 255,986 259,710 249,430 226,387 202,989 218,547 253,692 177,551 147,775 133,394 121,845 124,466
Other Current Assets 211,967 138,409 214,272 192,505 195,028 185,866 220,490 139,438 186,797 168,625 116,283 108,359 95,976 102,150 78,084 54,428 262,350 743,646 1,106,293 488,952 250,070
Total Current Assets 2,161,938 1,750,554 1,551,100 1,198,319 1,030,030 924,991 1,016,288 822,219 890,516 973,435 1,043,609 1,005,726 956,470 931,930 928,737 882,482 947,447 1,474,662 1,891,392 1,137,130 969,047
Non-Current Assets
Property, Plant and Equipment 18,664,934 17,397,162 16,603,798 15,381,704 14,377,787 13,766,668 13,188,077 12,624,254 11,684,969 11,074,575 10,731,296 10,234,243 9,791,687 9,042,817 9,093,436 8,784,936 8,330,643 7,785,828 7,486,167 7,430,001 7,480,090
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 170,571 184,952 164,380 131,722 0 0 0 0 0
Long Term Investments 1,488,622 1,420,641 1,653,167 1,392,944 1,255,870 1,087,235 871,000 779,586 735,196 713,866 642,007 570,625 513,733 625,134 673,511 909,958 533,000 526,000 391,000 98,371 0
Tax Assets 2,408,218 1,521 1,823,580 1,671,962 1,428,043 5,243 54,352 53,805 41,065 66,979 93,185 77,771 19,068 19,855 89,842 18,027 11,806 18,238 94,710 9,057 631
Other Non-Current Assets -538,766 1,894,647 97,884 92,922 96,953 1,617,163 1,632,176 1,634,367 1,552,537 1,364,922 840,900 1,329,100 1,659,489 1,558,015 858,249 892,968 1,315,070 1,555,115 1,368,460 1,116,702 1,086,610
Total Non-Current Assets 22,272,488 20,972,851 20,452,122 18,822,102 17,449,217 16,739,211 16,002,794 15,182,034 14,137,742 13,340,097 12,465,077 12,373,889 12,154,548 11,430,773 10,879,418 10,737,611 10,296,265 9,981,281 9,431,253 8,759,617 8,567,331
Other Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Assets 24,434,426 22,723,405 22,003,222 20,020,421 18,479,247 17,664,202 17,019,082 16,004,253 15,028,258 14,313,532 13,508,686 13,379,615 13,111,018 12,362,703 11,808,155 11,620,093 11,243,712 11,455,943 11,322,645 9,896,747 9,536,378
Current Liabilities
Accounts Payable 404,971 430,425 393,083 318,585 346,448 277,336 256,442 264,631 297,480 295,211 284,516 221,312 326,987 236,354 240,637 261,029 323,346 346,047 377,107 373,526 293,427
Short Term Debt 764,578 496,615 542,443 243,785 927,388 576,400 177,400 302,200 357,580 530,970 693,549 215,003 477,435 648,479 431,408 848,115 504,434 37,346 400,620 688,195 511,561
Tax Payables 265,463 164,440 168,645 159,551 144,899 154,819 148,946 138,964 138,600 140,613 130,998 124,939 120,289 104,711 104,011 109,798 0 0 0 0 0
Deferred Revenue 40,557 41,769 42,293 48,340 64,908 91,174 70,388 82,520 73,073 72,307 76,101 79,689 72,176 159,542 158,607 150,539 0 0 60,509 51,804 49,783
Other Current Liabilities 758,236 793,332 779,050 749,723 739,621 704,054 693,622 643,595 714,184 660,655 564,478 567,538 466,107 266,361 252,508 246,245 557,187 1,075,167 1,433,837 512,371 296,203
Total Current Liabilities 1,968,342 1,762,141 1,756,869 1,360,433 2,078,365 1,648,964 1,197,852 1,292,946 1,442,317 1,559,143 1,618,644 1,083,542 1,342,705 1,310,736 1,083,160 1,505,928 1,384,967 1,458,560 2,272,073 1,625,896 1,150,974
Non-Current Liabilities
Long Term Debt 9,369,011 8,380,533 7,642,136 6,675,602 4,884,430 4,638,232 4,789,713 4,021,785 3,462,391 3,031,215 2,796,465 3,199,088 3,019,054 2,948,991 3,370,524 3,031,603 3,127,125 3,232,633 2,608,455 2,584,985 2,897,725
Deferred Revenue 520,180 422,103 257,151 221,032 215,330 137,153 113,996 88,672 115,609 123,052 114,480 109,359 116,805 63,004 65,934 70,816 47,126 92,351 3,017,153 2,420,286 2,657,900
Deferred Tax 2,661,898 2,565,098 2,498,432 2,326,775 2,188,807 2,007,826 1,896,380 3,155,394 2,910,505 2,761,243 2,504,243 2,151,371 1,925,388 1,833,566 1,496,095 1,403,318 1,243,743 1,225,798 1,225,253 1,227,553 1,329,253
Other Non-Current Liabilities 3,426,790 3,433,654 3,827,174 3,683,786 3,559,127 3,883,322 3,885,411 2,509,544 2,377,979 2,319,777 2,134,394 2,733,966 2,776,480 2,431,180 2,446,762 2,162,263 1,909,006 2,000,218 -1,224,861 -911,824 -1,328,878
Total Non-Current Liabilities 15,977,879 14,801,388 14,224,893 12,907,195 10,847,694 10,666,533 10,685,500 9,775,395 8,866,484 8,235,287 7,549,582 8,193,784 7,837,727 7,276,741 7,379,315 6,668,000 6,327,000 6,551,000 5,626,000 5,321,000 5,556,000
Total Liabilities 17,946,221 16,563,529 15,981,762 14,267,628 12,926,059 12,315,497 11,883,352 11,068,341 10,308,801 9,794,430 9,168,226 9,277,326 9,180,432 8,587,477 8,462,475 8,174,114 7,712,101 8,009,827 7,897,681 6,946,551 6,706,599
Common Stock 2,744,501 2,724,740 2,702,743 2,677,482 2,659,561 2,634,265 2,614,805 2,596,030 2,541,668 2,512,970 2,491,558 2,466,923 2,439,530 2,419,133 2,149,483 2,148,469 2,133,733 2,587,201 2,067,377 1,769,047 1,744,354
Retained Earnings 3,665,946 3,360,347 3,264,719 3,025,106 2,837,610 2,641,183 2,442,511 2,255,547 2,092,803 1,926,065 1,785,273 1,624,102 1,534,483 1,423,961 1,298,213 1,444,208 1,413,741 1,319,747 1,193,712 1,204,122 1,127,699
Accumulated Other Comprehensive Income/Loss -30,434 -31,435 -54,861 -62,796 -57,096 -47,708 -45,002 -43,822 -44,748 -68,141 -78,053 -114,008 -152,163 -159,767 -131,587 -146,698 -15,863 12,268 165,120 -22,545 -39,001
Total Stockholders Equity 6,374,685 6,048,647 5,906,200 5,633,503 5,430,648 5,222,915 5,006,690 4,803,622 4,583,917 4,367,493 4,194,470 3,972,806 3,821,850 3,683,327 3,316,109 3,445,979 3,531,611 3,446,116 3,424,964 2,950,196 2,829,779
Total Investments 1,488,622 7,130,463 1,653,167 1,392,944 1,255,870 1,087,235 5,564,102 5,176,340 4,899,723 4,673,621 4,468,838 4,237,134 4,070,407 3,960,006 3,602,510 3,681,739 3,747,134 3,688,948 391,000 98,371 0
Total Debt 10,133,589 8,877,148 8,184,579 6,919,387 5,811,818 5,214,632 4,967,113 4,323,985 3,819,971 3,562,185 3,490,014 3,414,091 3,496,489 3,597,470 3,801,932 3,879,718 3,631,559 3,269,979 3,009,075 3,273,180 3,409,286
Net Debt 10,118,481 8,872,316 8,174,610 6,859,419 5,801,535 5,208,866 4,953,221 4,315,104 3,780,483 3,554,581 3,480,488 3,387,889 3,462,906 3,487,282 3,656,554 3,774,473 3,575,238 3,182,769 2,855,072 3,109,814 3,180,507

Reported Currency: USD TTM 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31
Cash Flows from Operating Activities
Net Income 494,812 500,826 635,944 570,052 557,813 530,540 507,949 461,527 456,190 423,696 439,966 413,164 366,940 370,209 53,555 242,125 307,143 327,255 176,267 243,195 240,579
Depreciation & Amortization 841,080 817,814 719,141 686,253 664,140 650,955 610,629 565,011 571,664 496,487 492,322 481,262 493,784 414,555 404,331 390,358 403,896 381,173 353,082 401,105 438,143
Deferred Income Tax 38,766 37,309 112,669 64,373 -5,417 112,185 243,577 229,952 245,292 185,269 301,838 228,602 176,192 260,411 105,492 158,024 -58,027 27,738 -23,806 -113,850 81,756
Stock Based Compensation 15,422 15,942 18,460 18,292 18,376 19,547 20,502 18,883 -381 339 534 -749 -165,561 18,943 199,985 95,935 0 270,924 62,492 -35,925 -438,143
Change in Working Capital -122,740 -13,551 -372,149 -233,131 -213,782 -22,237 -154,065 -187,289 -159,837 10,796 -108,640 116,422 204,705 -262,745 -16,050 -157,181 -65,978 -374,891 -45,015 299,976 119,428
Accounts Receivable -64,979 -63,869 -72,559 -18,191 -12,789 37,530 -93,797 -2,489 -22,219 -52,672 -44,991 14,587 32,428 -67,943 12,292 80,834 75,467 -10,255 -59,431 36,542 107,347
Inventory -54,039 -83,469 -32,870 11,623 -51,826 -6,103 -6,683 -1,491 -23,945 3,724 -11,878 -23,043 -23,398 12,276 21,572 22,588 -29,776 -9,094 -16,836 2,621 -4,629
Accounts Payable -126,960 90,076 20,267 -6,059 50,641 -14,602 -23,769 -66,917 -34,266 -353 45,414 -96,600 58,346 9,125 -27,328 -69,439 -42,004 5,825 -12,372 98,001 -34,303
Other Working Capital 123,238 43,711 -286,987 -220,504 -199,808 -39,062 -29,816 -116,392 -79,407 60,097 -97,185 221,478 137,329 -216,203 -22,586 -191,164 -69,665 -361,367 43,624 162,812 51,013
Other Non-Cash Items -223,914 -116,899 -254,051 -139,474 -64,404 -13,846 -110,556 -64,694 -18,601 -16,960 27,287 -67,579 49,523 -50,916 283,752 84,307 70,902 -238,697 207,276 47,579 460,067
Net Cash Provided by Operating Activities 1,043,426 1,241,441 860,014 966,365 956,726 1,277,144 1,118,036 1,023,390 1,094,327 1,099,627 1,153,307 1,171,122 1,125,583 750,457 1,031,065 813,568 657,936 393,502 730,296 842,080 901,830
Cash Flows from Investing Activities
Investments in Property, Plant, and Equipment -1,745,158 -1,707,490 -1,473,475 -1,326,584 -1,191,447 -1,178,169 -1,408,774 -1,275,472 -1,076,087 -910,634 -1,016,322 -889,551 -884,350 -748,374 -764,609 -935,577 -918,581 -737,779 -633,532 -538,232 -693,475
Acquisitions Net 869,358 0 1,473,475 1,326,584 1,191,447 1,178,169 -26,844 -27,462 -4,034 0 0 0 45,111 0 0 0 0 207,620 -185,046 90,967 0
Purchases of Investments -1,463,484 -1,212,063 -1,725,480 -822,608 -722,181 -672,165 -544,527 -635,691 -496,062 -373,444 -463,274 -434,852 -513,799 -584,885 -463,033 -338,361 -36,525 -1,439,404 -2,962,278 -1,040,955 0
Sales/Maturities of Investments 1,462,378 1,207,713 1,720,966 819,518 719,034 653,033 542,246 633,410 478,813 356,195 446,025 417,603 499,155 632,507 484,612 411,790 69,225 1,446,325 3,143,481 951,630 0
Other Investing Activities -755,149 93,794 -1,382,415 -1,274,728 -1,127,830 -1,173,692 9,362 53,137 31,137 5,215 24,170 33,806 71,876 124,852 38,113 46,989 12,527 -45,495 52,283 4,637 -23,291
Net Cash Used for Investing Activities -1,632,055 -1,618,046 -1,386,929 -1,277,818 -1,130,977 -1,192,824 -1,428,537 -1,252,078 -1,066,233 -922,668 -1,009,401 -872,994 -782,007 -575,900 -704,917 -815,159 -873,354 -568,733 -585,092 -531,953 -716,766
Cash Flows from Financing Activities
Debt Repayment -35,160 -150,000 -19,000 -1,685,840 -665,000 -246,000 -264,800 -370,430 -562,970 -658,303 -122,828 -654,286 -655,169 -243,687 -951,881 -181,491 0 0 0 0 0
Common Stock Issued -2,205 -2,653 2,350 1,389 -692 0 0 0 0 15,288 17,319 15,955 15,841 255,971 3,302 3,687 24,089 39,548 298,168 18,291 0
Common Stock Repurchased -4,788 -2,653 -2,350 -1,389 692 0 0 0 0 731,126 197,257 568,256 453,753 0 867,469 428,675 0 0 0 0 0
Dividends Paid -384,499 -378,881 -369,478 -350,577 -329,643 -308,892 -289,793 -274,229 -260,027 -246,671 -235,244 -225,075 -221,728 -216,979 -205,076 -204,247 -210,473 -201,220 -186,677 -166,772 -157,417
Other Financing Activities 1,023,357 905,655 865,394 2,397,555 1,173,411 462,446 870,105 842,740 826,787 -20,321 -17,086 -10,359 -12,878 -5,052 171 3,891 370,913 270,110 -266,058 -129,342 123,566
Net Cash Used Provided by Financing Activities 596,705 371,468 476,916 361,138 178,768 -92,446 315,512 198,081 3,790 -178,881 -160,582 -305,509 -420,181 -209,747 -286,015 50,515 184,529 108,438 -154,567 -277,823 -33,851
Effect of Forex Changes on Cash 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Change in Cash 8,076 -5,137 -49,999 49,685 4,517 -8,126 5,011 -30,607 31,884 -1,922 -16,676 -7,381 -76,605 -35,190 40,133 48,924 -30,889 -66,793 -9,363 32,304 151,213
Cash at End of Period 34,549 4,832 9,969 59,968 10,283 5,766 13,892 8,881 39,488 7,604 9,526 26,202 33,583 110,188 145,378 105,245 56,321 87,210 154,003 163,366 228,779
Cash at Start of Period 26,473 9,969 59,968 10,283 5,766 13,892 8,881 39,488 7,604 9,526 26,202 33,583 110,188 145,378 105,245 56,321 87,210 154,003 163,366 131,062 77,566
Free Cash Flow
Operating Cash Flow 1,043,426 1,241,441 860,014 966,365 956,726 1,277,144 1,118,036 1,023,390 1,094,327 1,099,627 1,153,307 1,171,122 1,125,583 750,457 1,031,065 813,568 657,936 393,502 730,296 842,080 901,830
Capital Expenditure -1,745,158 -1,707,490 -1,473,475 -1,326,584 -1,191,447 -1,178,169 -1,408,774 -1,275,472 -1,076,087 -910,634 -1,016,322 -889,551 -884,350 -748,374 -764,609 -935,577 -918,581 -737,779 -633,532 -538,232 -693,475
Free Cash Flow -701,732 -466,049 -613,461 -360,219 -234,721 98,975 -290,738 -252,082 18,240 188,993 136,985 281,571 241,233 2,083 266,456 -122,009 -260,645 -344,277 96,764 303,848 208,355