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PINNACLE WEST CAPITAL CORP PNW

NYSE · stock · Electric Services · website · IPO 1961-08-28 · LEI

PINNACLE WEST CAPITAL CORP statistics & valuation

Market cap$13.1B
P / S2.5×
P / B1.8×
Dividend yield3.23%
Net debt$9.2B
Net debt / EBITDA4.5×
Enterprise value USD$22.3B
EV / EBITDA10.9×
Earnings yield EBIT/EV4.8%
Return on capital4%
Graham number -19.1%$81.25

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($81.25); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
23.90% 25.50% 21.00% 19.40% 22.00% 21.20% 16.90% 17.60% 19.70% 20.00% 2016201720182019202020212022202320242025
Return on equity (%)
2016201720182019202020212022202320242025
Shares outstanding
112.0M 112.4M 112.5M 112.8M 112.9M 113.2M 113.4M 113.8M 116.2M 122.0M 2016201720182019202020212022202320242025
Net debt ($)
$4.01B $4.78B $4.63B $4.82B $6.25B $6.90B $7.74B $7.54B $8.05B $9.20B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.81× 0.93× 0.87× 0.87× 1.10× 1.15× 1.26× 1.20× 1.18× 1.30× 2016201720182019202020212022202320242025
EPS ($)
$3.95 $4.35 $4.54 $4.77 $4.87 $5.47 $4.26 $4.41 $5.24 $5.05 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

PINNACLE WEST CAPITAL CORP trades at about 19.9× earnings — near its 10-year norm (10-year range 12.7×–20.5×, median 18.4×).

12.7× 20.5×

Shaded band = 10-year range (12.7×–20.5×); dot = today's 19.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin20.0%19.7%17.6%16.9%21.2%22.0%19.4%21.0%25.5%23.9%
Debt / equity1.30×1.18×1.20×1.26×1.15×1.10×0.87×0.87×0.93×0.81×
Current ratio0.540.590.670.990.880.880.500.560.850.64

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.