Pinnacle West Capital (PNW) FY2021 results: revenue $3.8 billion, up 6.0% on the year
Pinnacle West Capital Corp. (PNW) reported revenue of $3.8 billion for fiscal 2021, the year ended 31 December 2021, up 6.0% on the year before. Net income was $619 million, up 12.4%, and diluted earnings per share $5.47. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$3.8 billion
+6.0% on the year
FY2014FY2021
Operating margin
21.2%
22.0% a year earlier
FY2014FY2021
Net income
$619 million
+12.4% on the year
FY2014FY2021
Diluted EPS
$5.47
+12.3% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
860
966
957
-11.0%
Capital expenditure
1,473
1,327
1,191
+11.1%
Free cash flow
-613
-360
-235
Free cash flow margin
-16.1%
-10.0%
-6.8%
Cash from investing
-1,387
-1,278
-1,131
Cash from financing
477
361
179
+32.1%
Depreciation and amortisation
719
686
664
+4.8%
Share-based compensation
18.5
18.3
18.4
+0.9%
Dividends paid
369
351
330
+5.4%
Dividend per share
$3.36
$3.23
$3.04
+4.0%
Diluted shares, weighted
113m
113m
113m
+0.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
5,906
5,634
5,431
+4.8%
Non-controlling interest
115
119
123
-3.4%
Debt
7,356
6,483
5,747
+13.5%
Operating lease liabilities
728
361
51.9
+101.6%
Other liabilities
7,898
7,423
7,127
+6.4%
Total liabilities and equity
22,003
20,020
18,479
+9.9%
Fixed assets
14,184
13,728
13,198
+3.3%
Intangible assets
274
283
291
-3.1%
Cash and equivalents
10.0
60.0
10.3
-83.4%
Other assets
7,536
5,950
4,980
+26.6%
Total assets
22,003
20,020
18,479
+9.9%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.