Pinnacle West Capital (PNW) FY2017 results: revenue $3.6 billion, up 1.9% on the year
Pinnacle West Capital Corp. (PNW) reported revenue of $3.6 billion for fiscal 2017, the year ended 31 December 2017, up 1.9% on the year before. Net income was $488 million, up 10.5%, and diluted earnings per share $4.35. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$3.6 billion
+1.9% on the year
FY2010FY2017
Operating margin
25.5%
23.9% a year earlier
FY2010FY2017
Net income
$488 million
+10.5% on the year
FY2010FY2017
Diluted EPS
$4.35
+10.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
3,565
3,499
3,495
+1.9%
Cost of revenue
981
1,076
n/a
-8.8%
Gross profit
2,584
2,423
n/a
+6.6%
Gross margin
72.5%
69.3%
n/a
Operating income
910
836
855
+8.9%
Operating margin
25.5%
23.9%
24.4%
Interest expense
198
186
179
+6.4%
Income tax
258
236
238
+9.2%
Net income
488
442
437
+10.5%
Net margin
13.7%
12.6%
12.5%
Diluted EPS
$4.35
$3.95
$3.92
+10.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,118
1,023
1,094
+9.2%
Capital expenditure
1,409
1,275
1,076
+10.5%
Free cash flow
-291
-252
18.2
Free cash flow margin
-8.2%
-7.2%
0.5%
Cash from investing
-1,429
-1,252
-1,066
Cash from financing
316
198
3.8
+59.3%
Depreciation and amortisation
611
565
572
+8.1%
Share-based compensation
20.5
18.9
18.8
+8.6%
Dividends paid
290
274
260
+5.7%
Dividend per share
$2.70
$2.56
$2.44
+5.5%
Diluted shares, weighted
112m
112m
112m
+0.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,007
4,804
4,584
+4.2%
Non-controlling interest
129
132
136
-2.5%
Debt
4,967
4,324
3,820
+14.9%
Other liabilities
6,916
6,744
6,489
+2.5%
Total liabilities and equity
17,019
16,004
15,028
+6.3%
Fixed assets
11,670
11,372
10,628
+2.6%
Intangible assets
257
90.0
124
+185.7%
Cash and equivalents
13.9
8.9
39.5
+56.4%
Other assets
5,078
4,534
4,237
+12.0%
Total assets
17,019
16,004
15,028
+6.3%
10-K for the year ended 31 December 2017, filed 22 February 2019: the filing.