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Pinnacle West CapitalPNW

Multi-Utilities · Phoenix, Arizona · In the S&P 500
Solid businessPricier than peers
$106.28−0.34%After hours: $106.64 (+0.34%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 19.3% over 1 year
Pinnacle West Capital over 1 yearDaily close, $, to 30 Oct 2026
$90$100$110Nov2026MarMayJulSep$106.28$90$100$110NovMarJul$106.28
Source: Nasdaq daily closes
Market value$12.88B
Price to earnings20.4x
Forward P/E20.8x
Dividend yield3.48%
Year to date+19.8%
One year+19.3%
Next earningsTue 3 Nov, before the open
SectorUtilities
52-week range (closes)
$86.55$109.37

Quality and valuation

How Pinnacle West Capital compares with other utilities stocks. A description, not a recommendation.

Pinnacle West Capital and 7 multi-utilities peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: pricier than most

An average business among utilities companies, priced above most of them.

Pinnacle West Capital trades at 20.8 times the next 12 months of expected earnings, against a median of 18.6x for the 33 utilities stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +5.7% vs +8.3%
  • Less profitable (operating margin): 20.5% vs 23.0%
  • Turns less of its sales into cash: −15.8% vs −14.5%
PNW trades at 20.8x forward earnings, above the sector medianForward p/e, Multi-Utilities peers
PCG7.8xSRE16.6xD17.5xED18.4xXEL18.7xAEE19.9xPNW20.8xNEE20.8xSector median 18.6xPCG7.8xSRE16.6xD17.5xED18.4xXEL18.7xAEE19.9xPNW20.8xNEE20.8xSector median 18.6x
Source: CNBC quotes; Mostly Markets
At 20.4x earnings, PNW is pricier than its average since Aug 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
16x18xAverage 18.2x2025202620.4x16x18xAverage 18.2x2025202620.4x
Source: Nasdaq prices; SEC filings

Financials

From Pinnacle West Capital's SEC filings, through the quarter ending 30 Jun 2026. Hover or tap a bar for its value.

Revenue grew 7.1% from a year earlierQuarterly revenue, $bn, latest Q2 ’26
$0.0bn$0.5bn$1.0bn$1.5bnQ3 ’24Q1 ’25Q3 ’25$1.5bnQ2 ’26$0bn$1bnQ3 ’24Q1 ’25Q3 ’25$1.5bnQ2 ’26
Source: SEC filings
Growth slowed to +7.1% last quarterRevenue growth, year on year, %
0%5%10%Q3 ’24Q1 ’25Q3 ’257.1%Q2 ’260%5%10%Q3 ’24Q1 ’25Q3 ’257.1%Q2 ’26
Source: SEC filings
Operating margin was 21.0% last quarterOperating income as a share of revenue, %
0%10%20%30%Q3 ’24Q1 ’25Q3 ’2521.0%Q2 ’260%20%Q3 ’24Q1 ’25Q3 ’2521.0%Q2 ’26
Source: SEC filings
Free cash flow was −$879 million over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $m
−$400m−$200m$0mQ3 ’24Q1 ’25Q3 ’25−$335mQ2 ’26−$400m−$200m$0mQ3 ’24Q1 ’25Q3 ’25−$335mQ2 ’26
Source: SEC filings
Last 12 monthsPNWSector median
Revenue growth+5.7%+8.3%
Operating margin20.5%23.0%
Free cash flow margin−15.8%−14.5%
Price to earnings20.4x21.1x

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Similar companies

Multi-Utilities, by market value.

CompanyPriceTodayYTDValue
NEENextEra Energy$83.71+1.91%+4.3%$176B
DDominion Energy$66.62+2.30%+13.7%$58.59B
SRESempra$86.06+0.20%−2.5%$56.27B
XELXcel Energy$79.82+0.99%+8.1%$49.86B
EDConsolidated Edison$116.64+1.00%+17.4%$43.14B
AEEAmeren$110.54+0.30%+10.7%$30.60B
PCGPG&E$13.18−0.38%−18.0%$29.03B
DTEDTE Energy$135.49+0.72%+5.0%$28.19B