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Pinnacle West Capital Corp. (PNW)

Pinnacle West is an investor-owned electric utility holding company based in Phoenix, Arizona. Its principal subsidiary is APS, which the filing says has provided energy and energy-related products throughout Arizona since 1886, is Arizona's largest and longest-serving electric company, and generates electricity in 11 of Arizona's 15 counties. Its other active subsidiaries are El Dorado and PNW Power. It has one reportable business segment, regulated electricity, covering the regulated retail and wholesale electricity businesses and the generation, transmission and distribution behind them.

Pinnacle West Capital Corp.

Pinnacle West is an investor-owned electric utility holding company based in Phoenix, Arizona. Its principal subsidiary is APS, which the filing says has provided energy and energy-related products throughout Arizona since 1886, is Arizona's largest and longest-serving electric company, and generates electricity in 11 of Arizona's 15 counties. Its other active subsidiaries are El Dorado and PNW Power. It has one reportable business segment, regulated electricity, covering the regulated retail and wholesale electricity businesses and the generation, transmission and distribution behind them.

APS provides electric service to approximately 1.4 million customers. It owns or leases 6,257 MW of regulated generation capacity and holds a mix of long-term and short-term power purchase agreements for more.

The plants

Nuclear comes from the Palo Verde Generating Station, a three-unit plant approximately 50 miles west of Phoenix. APS operates it and owns 29.1 percent of Units 1 and 3 and approximately 23.9 percent of Unit 2, leasing a further 5.2 percent of that unit to reach a combined 29.1 percent interest in it. Its total entitlement from Palo Verde is 1,146 MW. The renewed operating licences run to June 2045 for Unit 1, April 2046 for Unit 2 and November 2047 for Unit 3. The remaining Unit 2 lease expires in 2033, after APS bought two of the three leased interests during 2025.

APS has six natural gas power plants across Arizona at Redhawk, Ocotillo, Sundance, West Phoenix, Saguaro and Yucca, several units at Yucca running on either gas or oil, plus two oil-only plants at Douglas and Yucca GT-4. Its total entitlement from these plants is 3,722 MW. It owns and operates all of them except two units at Yucca that it operates for the Imperial Irrigation District. Some of the gas is financially hedged up to three years ahead and converted to a physical purchase a month before delivery, under long-term transportation agreements with three companies, some running through 2052. Fuel oil is bought on short-term purchases delivered by truck to the plants.

Four Corners, in the northwestern corner of New Mexico, was originally a five-unit plant; Units 1, 2 and 3 were retired in December 2013, and APS operates the plant and owns 63 percent of Units 4 and 5, for a total entitlement of 970 MW. Its coal comes from a mine owned by a company formed by the Navajo Nation, under a long-term agreement running from July 2016 through 2031, amended and restated in July 2024, and the plant's leasehold interest on Navajo Nation land was extended to 2041. Since June 2021 the owners have had the option to run Four Corners seasonally, shutting one unit in the winter and spring, and APS has elected not to begin seasonal operation because of market conditions. At Cholla in northeastern Arizona, APS ceased coal-burning operations in March 2025 and formally retired Units 1 and 3 on 30 April 2025. The Navajo Plant, in which APS held a 14 percent interest, ceased operations in November 2019.

Planning what comes next

Every three years APS performs an integrated resource plan, a study identifying the resources needed to meet customer demand over the next 15 years. The latest was released in 2023 and the next is due to be filed with the Arizona utility regulator in August 2026. To help ensure competitive costs for resources it regularly issues competitive bid solicitations, the most recent in 2025, open to bids for all resource types, both customer-scale behind the meter and utility-scale in front of it.

From the June 2023 round APS procured 3,606 MW of battery storage, 2,649 MW of solar, 517 MW of natural gas and 500 MW of wind, expected in service from 2026 to 2028. From the November 2024 round it signed an amendment extending an existing gas tolling agreement to 600 MW from 2027, with the term running to 2038.

The portfolio spans biomass, biogas, coal, energy storage, geothermal, natural gas, solar and wind. In 2025 approximately 58 percent of the energy supply came from clean resources, counting nuclear, renewables, demand-side management and power purchase agreements with clean resources. APS has an aspirational goal to be carbon-neutral by 2050, which it defines as aiming to offset elsewhere any emissions its generation still produces in that year.

The filing says wildfire safety remains a critical focus, and that APS has increased investment in fire mitigation to clear defensible space around its infrastructure, continue system upgrades, build partnerships with government entities and first responders, and educate customers and communities. The filing says APS intends to harden its infrastructure in order to improve resiliency against extreme weather events and other disruptions, and that it anticipates increasing investments in a modern and more flexible electricity grid with advanced distribution technologies.

From Pinnacle West Capital's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Pinnacle West Capital became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 3 November 2026
Revenue
$2.0 billion
+8.3% on the year · +35.5% on the quarter
Q4 FY2024Q3 FY2026
Net income
$434 million
+5.1% on the year · +143.2% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$3.49
+2.9% on the year · +144.1% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 25 February 2026
Revenue
$5.3 billion
+4.2% on the year
FY2018FY2025
Net income
$617 million
+1.3% on the year
FY2018FY2025
Diluted EPS
$5.05
-3.6% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsPinnacle West Capital (PNW) reported revenue of $5.3 billion for fiscal 2025, the year ended 31 December 2025, up 4.2% on the year before. Net income was $617 million and diluted earnings per share $5.05. Revenue was $5.1 billion in fiscal 2024, $4.7 billion in fiscal 2023, $4.3 billion in fiscal 2022 and $3.8 billion in fiscal 2021. Net income in the same years was $609 million, $502 million, $484 million and $619 million. Over the twelve months to 30 September 2026, Pinnacle West Capital reported revenue of $5.7 billion and net income of $661 million. Revenue grew 8.3% a year, compounded, over the five years to fiscal 2025. Pinnacle West Capital declared $3.61 a share in dividends over the last four quarters and had 121 million shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Pinnacle West Capital was $12.6 billion, 19.6 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE8.8%
ROCE6.2%
Operating margin20.7%
Net margin11.6%
FCF margin-16.3%
Interest cover2.5x
Debt to equity1.53x
Cash conversion2.77x
Share count, last 12 months1.3%
Sales CAGR, 3 years7.3%
Profit CAGR, 3 years8.4%
EPS, TTM$5.32

At the close of 6 November 2026

Price$104.21
Market cap$12.6 billion
Stock P/E19.6x
Price to book1.7x
EV / EBITDA11.0x
Dividend yield3.5%
Market cap / sales2.2x
52-week high$109.37
52-week low$86.55
Price, 1 year18.9%
Price CAGR, 3 years13.0%
Price CAGR, 5 years10.0%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Pinnacle West Capital Corp.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
PNWgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue7997841,0621,4701,0099451,1221,6389929521,3091,7691,0951,0321,3591,8211,1281,1501,4561,973
Cost of revenue257265352557455395408615376358437631396380477656420437558758
Gross profit5425187099135545507141,0236165948721,1376996528821,1657087138971,215
Gross margin68%66%67%62%55%58%64%62%62%62%67%64%64%63%65%64%63%62%62%62%
Operating income50.054.522341836.850.718351674.466.831454784.557.2308582121131306621
Operating margin6%7%21%28%4%5%16%32%8%7%24%31%8%6%23%32%11%11%21%31%
Interest expense59.960.962.263.568.975.481.587.886.686.697.998.095.094.8102111114116122125
Net income27.617.0164326-24.0-3.3107398-0.016.9204395-6.8-4.619341315.432.9179434
Net margin3%2%15%22%-2%-0%10%24%-0%2%16%22%-1%-0%14%23%1%3%12%22%
Diluted EPS$0.24$0.15$1.45$2.88-$0.21-$0.03$0.94$3.50$0.00$0.15$1.76$3.37-$0.06-$0.04$1.58$3.39$0.13$0.27$1.43$3.49
Operating cash flow200341248444210212226396374347190633439402261665477235394723
Capital expenditure467392452434431445473396532518534666532623710623670628729735
Free cash flow-268-51.0-20410.0-221-234-247-0.0-158-170-344-32.7-92.1-221-44842.0-193-393-335-11.4
Buybacksn/an/an/an/an/an/an/a-0.4n/an/an/a-0.4n/an/an/an/an/an/an/an/a
Dividends paid94.194.394.394.396.096.196.296.298.098.198.298.3100105105105107108110110
Shares outstanding113m113m113m113m113m113m113m113m113m114m114m114m119m119m119m120m121m121m121m121m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2008FY2009 †FY2010 †FY2011FY2012FY2013FY2014 †FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023 †FY2024FY2025TTM
Revenue3,2203,1543,1893,2413,3023,4553,4923,4953,4993,5653,6913,4713,5873,8044,3244,6965,1255,3405,706
Cost of revenuen/an/an/an/an/an/an/an/a1,0769811,0761,0429931,1531,6291,7931,8231,9332,174
Gross profitn/an/an/an/an/an/an/an/a2,4232,5842,6152,4292,5942,6512,6952,9033,3023,4073,533
Gross marginn/an/an/an/an/an/an/an/a69.3%72.5%70.8%70.0%72.3%69.7%62.3%61.8%64.4%63.8%61.9%
Operating income5836167157478528468118558369107746727888057328251,0121,0681,179
Operating margin18.1%19.5%22.4%23.0%25.8%24.5%23.2%24.4%23.9%25.5%21.0%19.4%22.0%21.2%16.9%17.6%19.7%20.0%20.7%
Interest expense205227228224200187185179186198218217229233256331377422477
Pre-tax incomen/a395506539656671644n/an/an/an/an/an/an/an/a596737738n/a
Income tax95.5139161184237231221238236258134-15.878.211074.876.9111107113
Effective tax raten/a35.1%31.8%34.0%36.2%34.4%34.2%n/an/an/an/an/an/an/an/a12.9%15.0%14.5%n/a
Net income24268.3350339382406398437442488511538551619484502609617661
Net margin7.5%2.2%11.0%10.5%11.6%11.8%11.4%12.5%12.6%13.7%13.8%15.5%15.3%16.3%11.2%10.7%11.9%11.5%11.6%
Diluted EPS$2.40$0.67$3.27$3.09$3.45$3.66$3.58$3.92$3.95$4.35$4.54$4.77$4.87$5.47$4.26$4.41$5.24$5.05$5.32
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2009 to FY2025, 9 years left out

FY2009FY2010FY2011FY2012FY2022FY2023FY2024FY2025Share
of the parts, latest year
Regulated Electricity Segment3,1493,1813,2373,2944,3244,6965,1255,340100.0%
All other5848n/an/an/an/an/a
Othern/an/an/an/a0000n/a
Regulated Electricity SegmentAll other FY2009 to FY2012
3,154FY20093,189FY20103,241FY20113,302FY20124,324FY20224,696FY20235,125FY20245,340FY2025

$ million; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Profit by segment FY2009 to FY2012, 1 year left out

The profit before tax each segment reports. Costs Pinnacle West Capital does not charge to a segment are left out, so the segments can add up to more than the company's own profit before tax.

FY2009FY2011FY2012Margin
FY2012
Regulated Electricity Segment40554165719.9%
All other-10-2-1-12.5%
Regulated Electricity SegmentAll other
395FY2009539FY2011656FY2012

$ million; the figure over a bar is all the segments together; a year a segment lost money, it hangs below the line. Hover a block for its profit, sales and margin.

FY2012Share of salesShare of profit
Regulated Electricity Segment100%100%
All otherunder 1%a loss

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has a profit before tax figure. A margin is a segment's profit before tax over its own sales.

Cash flow

FY2008FY2009 †FY2010 †FY2011FY2012FY2013FY2014 †FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023 †FY2024FY2025TTM
Operating cash flow8481,0677501,1261,1711,1531,1001,0941,0231,1181,2779579668601,2411,2081,6101,8051,829
Capital expenditure9367657488848901,0169111,0761,2751,4091,1781,1911,3271,4731,7071,8462,2492,6252,761
Free cash flow-87.53032.124128213718918.2-252-29199.0-235-360-613-466-639-639-820-932
Free cash flow margin-2.7%9.6%0.1%7.4%8.5%4.0%5.4%0.5%-7.2%-8.2%2.7%-6.8%-10.0%-16.1%-10.8%-13.6%-12.5%-15.3%-16.3%
Cash from investing-815-705-576-782-873-1,009-923-1,066-1,252-1,429-1,193-1,131-1,278-1,387-1,618-1,694-1,934-2,379-2,417
Cash from financing16.0-322-210-420-306-161-1793.8198316-92.4179361477371487323576568
Depreciation and amortisation4324514734944814924965725656116516646867198188549569701,015
Share-based compensationn/a5.015.023.032.025.033.118.818.920.519.518.418.318.515.917.323.527.526.6
Buybacksn/an/an/an/an/an/an/an/an/an/an/an/an/an/a2.74.1n/an/an/a
Dividends paid204205217222225235247260274290309330351369379386395423436
Dividend per share$2.10$2.10$2.10$2.10$2.67$2.23$2.33$2.44$2.56$2.70$2.87$3.04$3.23$3.36$3.43$3.49$3.55$3.61n/a
Diluted shares, weighted101m101m107m110m111m111m111m112m112m112m113m113m113m113m113m114m116m122m124m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a121m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2008FY2009 †FY2010 †FY2011FY2012FY2013FY2014 †FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity3,5713,3163,6833,8223,9734,1944,3674,5844,8045,0075,2235,4315,6345,9066,0496,1786,7547,0467,479
Non-controlling interestn/a11291.910912914615213613212912612311911511110710340.642.5
Short-term borrowingsn/a15416.6n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Debtn/a3,4973,6783,4963,4143,4903,5383,8204,3244,9675,2155,7476,4837,3568,1339,0259,42710,56311,428
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/a0.051.93617286391,2101,5213,5485,329
Other liabilitiesn/a4,9574,9235,6845,8635,6786,2576,4896,7446,9167,1017,1277,4237,8987,7928,1418,2978,8339,185
Total liabilities and equityn/a12,03512,39313,11113,38013,50914,31415,02816,00417,01917,66418,47920,02022,00322,72324,66126,10330,03233,464
Owned
Fixed assetsn/a8,5078,6889,0449,4179,90010,14510,62811,37211,67012,37113,19813,72814,18414,52215,80316,83418,35818,643
Intangible assetsn/a16418517116215812012490.0257263291283274259267591576525
Cash and equivalents10514511033.626.29.57.639.58.913.95.810.360.010.04.85.03.86.611.1
Other assetsn/a3,2183,4103,8633,7753,4414,0414,2374,5345,0785,0254,9805,9507,5367,9378,5868,67411,09114,285
Total assetsn/a12,03512,39313,11113,38013,50914,31415,02816,00417,01917,66418,47920,02022,00322,72324,66126,10330,03233,464
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded4.3%8.3%7.3%7.5%
Profit growth, compounded3.5%2.3%8.4%11.2%
Return on equity, average9.3%8.9%8.6%8.7%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Pinnacle West Capital's revenue in fiscal 2025?

Pinnacle West Capital (PNW) reported revenue of $5.3 billion for fiscal 2025, the year ended 31 December 2025, up 4.2% on the year before.

How much did Pinnacle West Capital earn in fiscal 2025?

Net income was $617 million for fiscal 2025, and diluted earnings per share $5.05.

What is Pinnacle West Capital's P/E ratio?

At the close of 6 November 2026, Pinnacle West Capital traded at 19.6 times its earnings over the twelve months to 30 September 2026.

What is Pinnacle West Capital's market cap?

The market cap of Pinnacle West Capital was $12.6 billion at the close of 6 November 2026.

Does Pinnacle West Capital pay a dividend?

Yes. Pinnacle West Capital declared $3.61 a share in dividends over the four quarters to 30 September 2026.

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TTM		Debt to equityDiv. yield
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Entergy Corp. ETR$52.8 billion25.4110.3%24.6%10.3%1.752.3%
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PPL Corp. PPL$27.0 billion20.478.6%24.5%7.5%1.333.1%
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TTM		Debt to equityDiv. yield
NextEra Energy Inc. NEE$182.3 billion15.6718.9%30.0%9.6%1.852.8%
Southern Co. SO$107.5 billion21.1311.1%24.7%7.9%1.653.2%
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Constellation Energy Corp. CEG$88.7 billion24.3410.8%14.7%26.0%0.770.7%
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Kinder Morgan, Inc. KMI$66.7 billion18.4911.4%29.0%11.7%1.053.9%
TC Energy Corporation TRP *$64.5 billion26.4412.9%52.7%10.7%2.203.9%
Dominion Energy, Inc. D$60.4 billion22.799.1%22.5%21.5%1.663.9%
Cheniere Energy, Inc. LNG$56.8 billion19.4046.3%28.1%22.5%3.680.8%
Targa Resources Corp. TRGP$56.7 billion23.4164.1%22.5%4.7%5.201.7%
ONEOK Inc. OKE$53.7 billion13.2317.4%14.2%36.8%1.225.0%
Entergy Corp. ETR$52.8 billion25.4110.3%24.6%10.3%1.752.3%
Sempra SRE$51.1 billion16.759.2%n/a-0.9%1.123.3%
Xcel Energy Inc. XEL$50.6 billion18.5710.5%21.7%4.5%1.592.9%
Exelon Corp. EXC$47.2 billion17.708.8%19.8%6.7%1.773.6%
Consolidated Edison Inc. ED$44.0 billion18.988.7%18.7%9.0%1.05n/a
Vistra Corp. VST$41.9 billion21.0440.5%18.5%3.8%3.570.7%
WEC Energy Group, Inc. WEC$38.1 billion21.0412.1%23.5%8.1%1.523.2%
Public Service Enterprise Group Inc. PEG$36.2 billion20.5110.2%21.6%5.3%1.483.6%
Ameren Corp. AEE$31.2 billion19.6211.3%25.2%-0.3%1.552.6%
American Water Works Company, Inc. AWK$29.9 billion26.059.5%37.0%5.4%1.372.3%
Atmos Energy Corp. ATO$29.3 billion20.679.2%37.0%6.5%0.682.0%
Venture Global, Inc. VG$28.8 billion9.0838.9%37.6%100.7%4.880.3%
Pg&E Corp. PCG$28.6 billion9.618.6%20.2%4.1%1.88n/a
DTE Energy Co. DTE$28.2 billion20.5810.8%13.1%12.4%2.253.3%
Cheniere Energy Partners, L.P. CQP$27.8 billionn/an/a34.2%13.2%n/an/a
Centerpoint Energy Inc. CNP$27.0 billion23.259.8%24.4%7.8%2.122.3%
PPL Corp. PPL$27.0 billion20.478.6%24.5%7.5%1.333.1%
Firstenergy Corp. FE$26.9 billion22.339.3%14.9%12.2%2.323.8%
Eversource Energy ES$26.3 billion18.438.7%21.5%4.6%1.764.5%
Edison International EIX$22.8 billion6.3220.3%31.8%2.6%2.335.9%
CMS Energy Corp. CMS$21.7 billion24.719.0%13.8%8.2%2.063.3%
Nisource Inc. NI$21.2 billion22.649.8%27.4%10.0%1.912.7%
Evergy, Inc. EVRG$20.5 billion19.499.7%27.4%8.5%1.473.2%
Alliant Energy Corp. LNT$18.9 billion20.2512.0%22.6%5.4%1.612.9%
NRG Energy, Inc. NRG$18.6 billion22.9217.5%6.1%12.8%4.822.1%
Western Midstream Partners, LP WES$16.5 billion12.91n/a38.5%22.3%n/an/a
Talen Energy Corp. TLN$16.0 billionn/a-16.1%2.0%71.9%6.06n/a
Essential Utilities, Inc. WTRG$13.0 billion22.847.9%72.4%9.2%1.223.2%
Pinnacle West Capital Corp. PNW$12.6 billion19.598.8%20.7%7.5%1.533.5%
DT Midstream, Inc. DTM$11.6 billion24.759.8%49.4%13.4%0.683.0%
OGE Energy Corp. OGE$10.5 billion19.0310.6%25.8%2.4%1.123.4%
Antero Midstream Corp. AM$9.0 billion13.3730.5%81.3%7.3%1.424.7%
Entergy Arkansas, LLC EAI$8.7 billion4.1910.3%24.6%n/a1.7513.4%
Idacorp Inc. IDA$8.6 billion22.519.2%23.5%4.5%0.952.4%
UGI Corp. UGI$7.9 billion12.3912.9%16.2%-0.5%1.354.0%
Kinetik Holdings Inc. KNTK$7.9 billion16.31n/a12.2%15.8%n/a6.6%
Clearway Energy, Inc. CWEN$7.0 billion44.271.7%13.4%9.9%1.665.4%
National Fuel Gas Co. NFG$7.0 billion10.2117.2%40.3%15.1%0.912.9%
Southwest Gas Holdings, Inc. SWX$6.6 billionn/an/an/an/a0.862.8%
Black Hills Corp. BKH$6.5 billion20.418.0%24.3%2.8%1.133.3%
Txnm Energy Inc. TXNM$6.4 billion28.076.3%24.4%10.0%1.652.9%
Ormat Technologies, Inc. ORA$5.7 billion42.745.1%16.7%28.6%0.600.5%
New Jersey Resources Corp. NJR$5.5 billion15.0113.9%24.8%6.4%1.403.5%
Portland General Electric Co. POR$5.5 billion19.736.3%14.4%1.2%1.164.6%
Spire Inc. SR$5.2 billion9.9015.3%19.7%4.1%2.033.7%
NorthWestern Energy Group, Inc. NWE$5.1 billion31.225.7%18.1%10.1%1.273.2%
One Gas, Inc. OGS$5.1 billion17.258.3%21.1%-1.9%1.003.3%
Archrock, Inc. AROC$4.8 billion14.2021.4%n/a3.7%1.473.2%
Kodiak Gas Services, Inc. KGS$4.2 billion49.563.7%27.4%8.2%1.264.6%
MDU Resources Group Inc. MDU$4.0 billion20.026.5%17.1%-0.7%0.873.0%
American States Water Co. AWR$3.6 billion24.6512.6%32.2%11.1%0.792.3%
Chesapeake Utilities Corp. CPK$3.4 billion22.129.0%27.2%13.9%1.042.0%
Avista Corp. AVA$3.4 billion13.498.7%18.9%-1.4%1.194.9%
Otter Tail Corp. OTTR$3.3 billion18.719.2%15.2%0.0%0.652.9%
California Water Service Group CWT$3.2 billion22.797.2%19.4%4.8%0.862.6%
H2O America HTO$3.0 billion24.704.8%20.7%4.2%0.952.8%
MGE Energy Inc. MGEE$3.0 billion18.5510.9%22.5%8.0%0.632.3%
Fervo Energy Co. FRVO$2.7 billionn/an/an/an/a0.08n/a
Northwest Natural Holding Co. NWN$2.2 billion17.138.3%22.9%3.2%1.843.8%
Centuri Holdings, Inc. CTRI$2.1 billion36.326.0%3.1%31.5%0.90n/a
NGL Energy Partners LP NGL$1.9 billionn/an/a1.9%18.0%n/an/a
NextDecade Corp. NEXT$1.6 billionn/a-83.8%n/an/a107.19n/a
Hawaiian Electric Industries Inc. HE$1.5 billion6.3912.8%10.5%13.6%1.28n/a
New Fortress Energy Inc. NFE$1.3 billionn/an/a-84.3%-36.9%n/an/a
Excelerate Energy, Inc. EE$1.2 billion25.252.1%23.8%16.2%0.460.9%
Middlesex Water Co. MSEX$1.1 billion21.639.5%30.5%8.9%0.802.4%
Unitil Corp. UTL$1.0 billion18.318.6%18.6%21.1%1.543.3%
Xplr Infrastructure, LP XIFR$689 million4.601.4%6.4%-1.1%0.57n/a
York Water Co. YORW$530 million19.678.5%37.9%13.7%0.652.8%
Hallador Energy Co. HNRG$476 million505.00-0.5%3.7%6.5%0.23n/a
Genie Energy Ltd. GNE$462 million16.1810.9%5.2%1.7%0.031.7%
Consolidated Water Co. Ltd. CWCO$436 million27.527.2%12.3%-1.2%0.002.1%
Clean Energy Fuels Corp. CLNE$421 millionn/a-13.6%-4.0%6.3%0.39n/a
Montauk Renewables, Inc. MNTK$388 million54.203.0%0.6%4.3%0.57n/a
Artesian Resources Corp. ARTNA$354 million15.049.2%25.0%5.9%0.723.7%
Cadiz Inc. CDZI$300 millionn/a-789.7%-236.1%-21.3%18.65n/a
Summit Midstream Corp. SMC$288 millionn/a-0.6%14.6%20.9%2.07n/a
Pure Cycle Corp. PCYO$262 million17.859.7%37.7%22.9%0.09n/a
RGC Resources Inc. RGCO$241 million17.2911.4%17.3%13.8%1.213.7%
Global Water Resources, Inc. GWRS$219 million81.112.6%12.6%9.8%1.414.1%
Stabilis Solutions, Inc. SLNG$67 millionn/a-15.0%-19.4%-30.3%0.14n/a
Ocean Power Technologies, Inc. OPTT$4 millionn/an/a-1,088.8%-25.8%1.17n/a
29 companies share its SEC industry code (Electric Services); the rest are the names nearest in size in its wider industry, Utilities, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on PNW

Dividends$3.61 a share in FY2025
Filings27 in twelve months: 20 current reports (8-K), about 12 regulation FD disclosure; 4 results of operations; 2 material agreement; 2 officer or director change; 1 other events
Planned insider sales3 Form 144 notices in twelve months, $937,217; latest 7 August 2026
Options tapeput/call 0.1 by open interest at the 6 November 2026 close; the straddle prices a 4.0% move to 20 November 2026
13F holders734 funds reported a position for the quarter to 30 June 2026; largest Capital Research Global Investors
Insider trading4 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest12.5 million shares short, 8.78 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20263 November 2026EDGAR
10-Q30 June 20264 August 2026EDGAR
10-Q31 March 20264 May 2026EDGAR
10-K31 December 202525 February 2026EDGAR
10-Q30 September 20253 November 2025EDGAR
10-Q30 June 20256 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202425 February 2025EDGAR
10-Q30 September 20246 November 2024EDGAR
10-Q30 June 20241 August 2024EDGAR

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