Pinnacle West Capital (PNW) FY2012 results: revenue $3.3 billion, up 1.9% on the year
Pinnacle West Capital Corp. (PNW) reported revenue of $3.3 billion for fiscal 2012, the year ended 31 December 2012, up 1.9% on the year before. Net income was $382 million, up 12.4%, and diluted earnings per share $3.45. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$3.3 billion
+1.9% on the year
FY2008FY2012
Operating margin
25.8%
23.0% a year earlier
FY2008FY2012
Net income
$382 million
+12.4% on the year
FY2008FY2012
Diluted EPS
$3.45
+11.7% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
3,302
3,241
3,189
+1.9%
Operating income
852
747
715
+14.1%
Operating margin
25.8%
23.0%
22.4%
Interest expense
200
224
228
-10.7%
Pre-tax income
656
539
506
+21.7%
Income tax
237
184
161
+29.3%
Effective tax rate
36.2%
34.0%
31.8%
Net income
382
339
350
+12.4%
Net margin
11.6%
10.5%
11.0%
Diluted EPS
$3.45
$3.09
$3.27
+11.7%
$ million except per share. 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.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,171
1,126
750
+4.0%
Capital expenditure
890
884
748
+0.6%
Free cash flow
282
241
2.1
+16.7%
Free cash flow margin
8.5%
7.4%
0.1%
Cash from investing
-873
-782
-576
Cash from financing
-306
-420
-210
Depreciation and amortisation
481
494
473
-2.5%
Share-based compensation
32.0
23.0
15.0
+39.1%
Dividends paid
225
222
217
+1.5%
Dividend per share
$2.67
$2.10
$2.10
+27.1%
Diluted shares, weighted
111m
110m
107m
+0.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
3,973
3,822
3,683
+3.9%
Non-controlling interest
129
109
91.9
+19.1%
Short-term borrowings
n/a
n/a
16.6
Debt
3,414
3,496
3,678
-2.3%
Other liabilities
5,863
5,684
4,923
+3.1%
Total liabilities and equity
13,380
13,111
12,393
+2.0%
Fixed assets
9,417
9,044
8,688
+4.1%
Intangible assets
162
171
185
-4.9%
Cash and equivalents
26.2
33.6
110
-22.0%
Other assets
3,775
3,863
3,410
-2.3%
Total assets
13,380
13,111
12,393
+2.0%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.