Pinnacle West Capital (PNW) FY2022 results: revenue $4.3 billion, up 13.7% on the year
Pinnacle West Capital Corp. (PNW) reported revenue of $4.3 billion for fiscal 2022, the year ended 31 December 2022, up 13.7% on the year before. Net income was $484 million, down 21.8%, and diluted earnings per share $4.26. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2023.
Revenue
$4.3 billion
+13.7% on the year
FY2015FY2022
Operating margin
16.9%
21.2% a year earlier
FY2015FY2022
Net income
$484 million
-21.8% on the year
FY2015FY2022
Diluted EPS
$4.26
-22.1% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,241
860
966
+44.4%
Capital expenditure
1,707
1,473
1,327
+15.9%
Free cash flow
-466
-613
-360
Free cash flow margin
-10.8%
-16.1%
-10.0%
Cash from investing
-1,618
-1,387
-1,278
Cash from financing
371
477
361
-22.1%
Depreciation and amortisation
818
719
686
+13.7%
Share-based compensation
15.9
18.5
18.3
-13.6%
Buybacks
2.7
n/a
n/a
Dividends paid
379
369
351
+2.5%
Dividend per share
$3.43
$3.36
$3.23
+2.1%
Diluted shares, weighted
113m
113m
113m
+0.2%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
6,049
5,906
5,634
+2.4%
Non-controlling interest
111
115
119
-3.5%
Debt
8,133
7,356
6,483
+10.6%
Operating lease liabilities
639
728
361
-12.2%
Other liabilities
7,792
7,898
7,423
-1.3%
Total liabilities and equity
22,723
22,003
20,020
+3.3%
Fixed assets
14,522
14,184
13,728
+2.4%
Intangible assets
259
274
283
-5.4%
Cash and equivalents
4.8
10.0
60.0
-51.5%
Other assets
7,937
7,536
5,950
+5.3%
Total assets
22,723
22,003
20,020
+3.3%
10-K for the year ended 31 December 2022, filed 27 February 2023: the filing.