Pinnacle West Capital (PNW) FY2015 results: revenue $3.5 billion, up 0.1% on the year
Pinnacle West Capital Corp. (PNW) reported revenue of $3.5 billion for fiscal 2015, the year ended 31 December 2015, up 0.1% on the year before. Net income was $437 million, up 10.0%, and diluted earnings per share $3.92. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2016.
Revenue
$3.5 billion
+0.1% on the year
FY2008FY2015
Operating margin
24.4%
23.2% a year earlier
FY2008FY2015
Net income
$437 million
+10.0% on the year
FY2008FY2015
Diluted EPS
$3.92
+9.5% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,495
3,492
3,455
+0.1%
Operating income
855
811
846
+5.3%
Operating margin
24.4%
23.2%
24.5%
Interest expense
179
185
187
-3.7%
Pre-tax income
n/a
644
671
Income tax
238
221
231
+7.7%
Effective tax rate
n/a
34.2%
34.4%
Net income
437
398
406
+10.0%
Net margin
12.5%
11.4%
11.8%
Diluted EPS
$3.92
$3.58
$3.66
+9.5%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,094
1,100
1,153
-0.5%
Capital expenditure
1,076
911
1,016
+18.2%
Free cash flow
18.2
189
137
-90.3%
Free cash flow margin
0.5%
5.4%
4.0%
Cash from investing
-1,066
-923
-1,009
Cash from financing
3.8
-179
-161
Depreciation and amortisation
572
496
492
+15.1%
Share-based compensation
18.8
33.1
25.0
-43.3%
Dividends paid
260
247
235
+5.4%
Dividend per share
$2.44
$2.33
$2.23
+4.7%
Diluted shares, weighted
112m
111m
111m
+0.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,584
4,367
4,194
+5.0%
Non-controlling interest
136
152
146
-10.6%
Debt
3,820
3,538
3,490
+8.0%
Other liabilities
6,489
6,257
5,678
+3.7%
Total liabilities and equity
15,028
14,314
13,509
+5.0%
Fixed assets
10,628
10,145
9,900
+4.8%
Intangible assets
124
120
158
+3.5%
Cash and equivalents
39.5
7.6
9.5
+419.3%
Other assets
4,237
4,041
3,441
+4.8%
Total assets
15,028
14,314
13,509
+5.0%
10-K for the year ended 31 December 2015, filed 19 February 2016: the filing.