Pinnacle West Capital (PNW) FY2016 results: revenue $3.5 billion, up 0.1% on the year
Pinnacle West Capital Corp. (PNW) reported revenue of $3.5 billion for fiscal 2016, the year ended 31 December 2016, up 0.1% on the year before. Net income was $442 million, up 1.1%, and diluted earnings per share $3.95. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$3.5 billion
+0.1% on the year
FY2009FY2016
Operating margin
23.9%
24.4% a year earlier
FY2009FY2016
Net income
$442 million
+1.1% on the year
FY2009FY2016
Diluted EPS
$3.95
+0.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,499
3,495
3,492
+0.1%
Cost of revenue
1,076
n/a
n/a
Gross profit
2,423
n/a
n/a
Gross margin
69.3%
n/a
n/a
Operating income
836
855
811
-2.2%
Operating margin
23.9%
24.4%
23.2%
Interest expense
186
179
185
+3.9%
Pre-tax income
n/a
n/a
644
Income tax
236
238
221
-0.6%
Effective tax rate
n/a
n/a
34.2%
Net income
442
437
398
+1.1%
Net margin
12.6%
12.5%
11.4%
Diluted EPS
$3.95
$3.92
$3.58
+0.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,023
1,094
1,100
-6.5%
Capital expenditure
1,275
1,076
911
+18.5%
Free cash flow
-252
18.2
189
Free cash flow margin
-7.2%
0.5%
5.4%
Cash from investing
-1,252
-1,066
-923
Cash from financing
198
3.8
-179
+5,126.4%
Depreciation and amortisation
565
572
496
-1.2%
Share-based compensation
18.9
18.8
33.1
+0.7%
Dividends paid
274
260
247
+5.5%
Dividend per share
$2.56
$2.44
$2.33
+4.9%
Diluted shares, weighted
112m
112m
111m
+0.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,804
4,584
4,367
+4.8%
Non-controlling interest
132
136
152
-2.4%
Debt
4,324
3,820
3,538
+13.2%
Other liabilities
6,744
6,489
6,257
+3.9%
Total liabilities and equity
16,004
15,028
14,314
+6.5%
Fixed assets
11,372
10,628
10,145
+7.0%
Intangible assets
90.0
124
120
-27.4%
Cash and equivalents
8.9
39.5
7.6
-77.5%
Other assets
4,534
4,237
4,041
+7.0%
Total assets
16,004
15,028
14,314
+6.5%
10-K for the year ended 31 December 2016, filed 22 February 2019: the filing.