PINNACLE WEST CAPITAL CORP

10-K & 10-Q Filings

Pinnacle West Capital Corporation (Pinnacle West) is a holding company that primarily derives its revenues and earnings from its wholly-owned subsidiary, Arizona Public Service Company (APS). APS is a vertically-integrated electric utility that provides retail or wholesale electric service to most of Arizona. Its business strategy includes a focus on clean energy and reducing carbon emissions. APS's energy sources include nuclear, natural gas, coal, oil, and solar. The company's nuclear power comes from Palo Verde Generating Station, where it owns a combined 29.1% ownership and leasehold interest. APS has been involved in legal proceedings related to the DOE's failure to meet its obligations regarding acceptance of spent nuclear fuel and high-level waste. The company's website is www.pinnaclewest.com and its ticker symbol is PCW.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$3241.38
3301.80
3454.63
3484.84
3488.07
3490.70
3556.18
3691.25
3471.21
3586.98
3803.84
4324.39
4695.99
944.96
951.71
3.14%0.72%Cost of Revenue (-)
$1436.52
1399.13
1511.42
1597.19
1595.72
1561.34
1515.42
1658.47
1633.17
1607.80
1803.43
2382.54
2586.70
586.41
568.16
5.02%-3.11%Gross Profit (+)
$1804.86
1902.68
1943.21
5190.27
5204.58
5229.29
5394.69
2032.78
1838.04
1979.18
2000.41
1941.85
2109.29
358.54
383.55
1.31%6.98%Selling, General & Administrative (-)
$147.41
159.32
164.17
172.29
171.81
166.50
184.35
212.85
218.58
224.84
234.64
220.37
224.01
57.14
59.16
3.55%3.55%Operating Expenses (-)
$154.07
166.15
172.16
175.18
176.74
170.04
191.01
222.35
224.47
232.12
241.03
222.86
225.93
57.75
59.18
3.24%2.49%Costs & Expenses (Total) (-)
$2494.87
2450.05
2608.30
2680.39
2640.84
2642.70
2630.87
2917.56
2799.25
2798.83
2998.53
3592.47
3871.35
894.24
884.92
3.73%-1.04%Operating Income/Loss (+)
$746.51
851.75
846.32
811.24
854.60
855.98
934.43
773.69
671.96
788.15
805.31
731.91
824.64
50.72
66.79
0.83%31.70%Non-operating Income/Expense (+)
$16.37
4.20
11.26
18.65
18.01
27.70
29.48
109.04
86.80
89.04
173.98
99.28
102.38
26.87
44.90
16.51%67.09%Interest Expense (-)
$223.64
199.65
187.03
185.49
178.71
185.75
197.68
218.28
216.72
228.97
233.26
255.54
331.32
75.40
86.63
3.33%14.90%Earnings before Tax (+)
$539.24
656.31
670.56
644.40
693.91
697.94
766.22
664.44
542.04
648.23
746.03
575.65
595.69
2.19
25.06
0.83%1043.20%Tax Expense (-)
$183.60
237.32
230.59
220.71
237.72
236.41
258.27
133.90
-15.77
78.17
110.09
74.83
76.91
1.18
3.89
-6.99%228.91%Income/Loss (Continuing Operations) (+)
$355.63
418.99
439.97
423.70
456.19
461.53
507.95
530.54
557.81
570.05
635.94
500.83
518.78
1.01
21.17
3.20%1997.92%Income/Loss (Discontinued Operations) (+)
$11.31
-5.83
Profit/Loss (+)
$366.94
413.16
439.97
423.70
456.19
461.53
507.95
530.54
557.81
570.05
635.94
500.83
518.78
1.01
21.17
2.93%1997.92%Net Income/Loss (NCI) (-)
$27.47
31.62
33.89
26.10
18.93
19.49
19.49
19.49
19.49
19.49
17.22
17.22
17.22
4.31
4.31
-3.81%0.00%Net Income/Loss (+)
$339.47
381.54
406.07
397.60
437.26
442.03
488.46
511.05
538.32
550.56
618.72
483.60
501.56
-3.30
16.86
3.31%611.43%Net Income/Loss (Common) (+)
$339.47
381.54
406.07
397.60
437.26
442.03
488.46
511.05
538.32
550.56
618.72
483.60
501.56
-3.30
16.86
3.31%611.43%EPS (Basic)
$3.11
3.48
3.69
3.59
3.94
3.97
4.37
4.56
4.79
4.89
5.48
4.27
4.42
-0.03
0.15
2.97%600.00%EPS (Diluted)
$3.09
3.45
3.66
3.58
3.92
3.95
4.35
4.54
4.77
4.87
5.47
4.26
4.41
-0.03
0.15
3.01%600.00%Weighted Avg Shares (Basic)
109.05
109.51
109.98
110.63
111.03
111.41
111.84
112.13
112.44
112.67
112.91
113.20
113.44
113.36
113.62
0.33%0.23%Weighted Avg Shares (Diluted)
109.86
110.53
110.81
111.18
111.55
112.05
112.37
112.55
112.76
112.94
113.19
113.42
113.80
113.36
114.23
0.29%0.77%Cash
$33.58
26.20
9.53
7.60
39.49
8.88
13.89
5.77
10.28
59.97
9.97
4.83
4.96
6.95
9.63
-14.74%38.60%Receivables
$280.44
273.89
296.70
294.65
271.57
247.45
302.63
263.82
258.25
293.79
366.57
429.43
491.46
426.98
406.49
4.79%-4.80%Inventory
$204.39
218.10
137.17
128.16
132.20
133.98
164.76
167.55
143.28
166.48
-1.64%16.19%Other Assets (Current)
$438.06
487.54
737.38
671.19
579.46
565.88
699.76
518.24
633.33
712.36
1040.58
1151.53
1263.00
1171.17
1199.38
9.23%2.41%Assets (Current)
$956.47
1005.73
1043.61
973.43
890.52
822.22
1016.29
924.99
1030.03
1198.32
1551.10
1750.55
1926.97
1748.39
1781.98
6.01%1.92%Property, Plant & Equipment (Net)
$9962.26
10396.39
10888.99
11194.33
11808.94
12714.28
13445.27
14029.57
14522.54
15159.21
15987.43
16854.35
17980.16
17115.86
18264.64
5.04%6.71%Accumulated Depreciation
$4709.99
4929.61
-5300.22
5397.75
5594.09
5970.10
6128.53
6366.01
6637.86
7110.31
7504.60
7929.88
8408.04
8072.60
8594.80
4.95%6.47%Goodwill & Intangibles
$170.57
162.15
157.69
119.75
123.97
90.02
257.19
262.90
290.56
282.57
273.69
258.88
267.11
260.45
512.87
3.81%96.92%Other Assets
$1999.03
1803.61
6718.62
2016.55
2199.96
2328.28
2426.86
1430.66
1438.42
1682.99
1738.71
1679.82
1713.72
1664.07
1706.02
-1.28%2.52%Assets (Non-current)
$12154.55
12373.89
12465.08
13210.88
14008.91
15042.56
15872.13
16739.21
17449.22
18822.10
20452.12
20972.85
22734.19
21831.99
23065.73
5.36%5.65%Assets (Total)
$13111.02
13379.61
13508.69
14313.53
15028.26
16004.25
17019.08
17664.20
18479.25
20020.42
22003.22
22723.40
24661.15
23580.37
24847.71
5.41%5.37%Accounts Payable
$502.15
455.42
526.39
554.22
561.75
264.63
539.45
575.94
632.86
628.63
715.05
753.98
782.02
648.04
775.48
3.76%19.67%Debt (Current)
$477.44
215.00
693.55
530.97
357.58
302.20
177.40
576.40
927.39
169.00
442.00
391.41
1484.50
558.37
1668.50
9.91%198.82%Other Liabilities (Current)
$363.12
413.12
398.70
473.96
522.99
726.12
481.00
496.63
518.11
562.80
599.82
616.76
622.83
517.92
611.89
4.60%18.14%Liabilities (Current)
$1342.70
1083.54
1618.64
1559.14
1442.32
1292.95
1197.85
1648.96
2078.36
1360.43
1756.87
1762.14
2889.35
1724.33
3055.87
6.59%77.22%Debt (Non-current)
$3019.05
3199.09
2796.47
5937.43
6799.78
4021.78
9281.01
8827.67
4884.43
6314.27
6913.73
7741.29
7540.62
7916.55
7541.87
7.93%-4.73%Other Liabilities
$4818.67
4994.70
4753.12
2297.86
2066.70
5753.61
1404.49
1838.87
5963.26
6592.93
7311.16
7060.10
7946.32
7775.04
7939.44
4.26%2.11%Liabilities (Non-current)
$7837.73
8193.78
7549.58
8235.29
8866.48
9775.40
10685.50
10666.53
10847.69
12907.19
14224.89
14801.39
15486.94
15691.59
15481.31
5.84%-1.34%Liabilities (Total)
$9180.43
9277.33
9168.23
9794.43
10308.80
11068.34
11883.35
12315.50
12926.06
14267.63
15981.76
16563.53
18376.29
17415.92
18537.18
5.95%6.44%Treasury Stock
$4.72
4.21
-4.31
3.40
5.81
4.13
5.62
4.83
9.43
6.29
6.40
5.00
8.19
7.45
9.07
4.70%21.77%Retained Earnings
$1534.48
1624.10
1785.27
1926.07
2092.80
2255.55
2442.51
2641.18
2837.61
3025.11
3264.72
3360.35
3466.32
3357.05
3483.18
7.03%3.76%AOCI
$-21.27
14.82
-78.05
-68.14
-44.75
-43.82
-45.00
-47.71
-57.10
-62.80
-54.86
-31.43
-33.14
-31.54
-32.58
-3.32%Shareholder's Equity
$3930.59
4102.29
4340.46
4519.10
4719.46
4935.91
5135.73
5348.70
5553.19
5752.79
6021.46
6159.88
6284.86
6164.45
6310.53
3.99%2.37%Liabilities & Equity
$13111.02
13379.61
13508.69
14313.53
15028.26
16004.25
17019.08
17664.20
18479.25
20020.42
22003.22
22723.40
24661.15
23580.37
24847.71
5.41%5.37%Net Income/Loss
$366.94
413.16
439.97
423.70
456.19
461.53
507.95
530.54
557.81
570.05
635.94
500.83
518.78
1.01
21.17
2.93%1997.92%Depreciation & Amortization
$493.78
481.26
492.32
496.49
571.66
565.01
610.63
650.96
664.14
686.25
719.14
817.81
854.14
208.77
226.41
4.67%8.45%Increase/Decrease in Working Capital
$-242.79
-56.30
-356.02
-6.07
157.29
280.87
207.83
97.07
298.84
329.10
628.80
307.75
812.77
58.12
-50.57
-187.01%Share-based Compensation
$
18.88
20.50
19.55
18.38
18.29
18.46
15.94
17.34
3.63
5.93
63.27%Adjustments to Reconcile Net Income
$758.64
761.47
713.34
675.93
638.14
561.86
610.09
746.60
398.91
396.31
224.07
740.62
688.92
210.60
326.19
-0.80%54.89%Net Cash (Operating)
$1125.58
1171.12
1153.31
1099.63
1094.33
1023.39
1118.04
1277.14
956.73
966.37
860.01
1241.44
1207.70
211.60
347.35
0.59%64.15%Capital Expenditure
$884.35
889.55
-1016.32
910.63
1076.09
1275.47
1408.77
1178.17
1191.45
1326.58
1473.47
1707.49
1822.97
445.17
479.07
6.21%7.62%Net Cash (Investing)
$-782.01
-872.99
-1009.40
-922.67
-1066.23
-1252.08
-1428.54
-1192.82
-1130.98
-1277.82
-1386.93
-1618.05
-1694.25
-453.24
-424.09
6.43%Increase/Decrease in Debt
$1108.92
-86.03
320.08
72.82
279.44
499.92
641.44
244.25
530.46
662.52
728.00
725.54
656.61
185.14
-4.27%Increase/Decrease in Equity
$15.84
15.96
17.32
15.29
19.37
-4.87
-13.39
-5.05
0.69
-1.39
-2.35
-2.65
-4.09
-2.13
-4.50
-110.77%Interest Expenses
$217.79
177.07
170.21
184.46
189.29
208.48
Dividends Paid
$221.73
225.07
-235.24
246.67
260.03
274.23
289.79
308.89
329.64
350.58
369.48
378.88
386.49
96.08
98.08
4.74%2.09%Net Cash (Financing)
$-420.18
-305.51
-160.58
-178.88
3.79
198.08
315.51
-92.45
178.77
361.14
476.92
371.47
486.68
243.75
81.42
-66.60%Cash Taxes Paid
$10.32
-102.15
6.55
9.96
2.19
21.17
Increase/Decrease in Cash
$-76.61
-7.38
-16.68
-1.92
31.88
-30.61
5.01
-8.13
4.52
49.69
-50.00
-5.14
0.12
2.12
4.68
120.81%Cash (Beginning)
$110.19
33.58
26.20
9.53
7.60
39.49
8.88
13.89
5.77
10.28
59.97
9.97
4.83
4.83
4.96
-22.94%2.55%Cash (Ending)
$33.58
26.20
9.53
7.60
39.49
8.88
13.89
5.77
10.28
59.97
9.97
4.83
4.96
6.95
9.63
-14.74%38.60%NOPAT
$732.22
543.77
555.29
533.39
846.54
843.77
931.76
749.03
652.41
693.10
686.48
636.77
718.17
23.35
56.42
-0.16%141.68%Gross Margin %
55.68%
57.63%
56.25%
148.94%
149.21%
149.81%
151.70%
55.07%
52.95%
55.18%
52.59%
44.90%
44.92%
37.94%
40.30%
Operating Margin %
23.03%
25.80%
24.50%
23.28%
24.50%
24.52%
26.28%
20.96%
19.36%
21.97%
21.17%
16.93%
17.56%
5.37%
7.02%
NOPAT Margin %
22.59%
16.47%
16.07%
15.31%
24.27%
24.17%
26.20%
20.29%
18.79%
19.32%
18.05%
14.73%
15.29%
2.47%
5.93%
Net Margin %
10.47%
11.56%
11.75%
11.41%
12.54%
12.66%
13.74%
13.84%
15.51%
15.35%
16.27%
11.18%
10.68%
-0.35%
1.77%
Tax Rate %
1.91%
36.16%
34.39%
34.25%
0.94%
1.43%
0.29%
3.19%
2.91%
12.06%
14.76%
13.00%
12.91%
53.97%
15.53%
ROA
5.58%
4.06%
4.11%
3.73%
5.63%
5.27%
5.47%
4.24%
3.53%
3.46%
3.12%
2.80%
2.91%
0.10%
0.23%
ROE
18.63%
13.26%
12.79%
11.80%
17.94%
17.09%
18.14%
14.00%
11.75%
12.05%
11.40%
10.34%
11.43%
0.38%
0.89%
ROIC
7.35%
5.22%
5.23%
4.93%
7.41%
6.79%
7.04%
5.40%
4.56%
4.62%
4.36%
3.82%
4.03%
0.14%
0.31%
Asset Turnover
0.25
0.25
0.26
0.24
0.23
0.22
0.21
0.21
0.19
0.18
0.17
0.19
0.19
0.04
0.04
Inventory Turnover
7.03
6.42
12.09
12.74
12.16
13.46
14.46
15.44
4.09
3.41
Equity Multiplier
3.34
3.26
3.11
3.17
3.18
3.24
3.31
3.30
3.33
3.48
3.65
3.69
3.92
3.83
3.94
Current Ratio
0.71
0.93
0.64
0.62
0.62
0.64
0.85
0.56
0.50
0.88
0.88
0.99
0.67
1.01
0.58
Quick Ratio
0.23
0.28
0.19
0.19
0.22
0.20
0.26
0.16
0.13
0.26
0.21
0.25
0.17
0.25
0.14
Debt/Equity Ratio
0.89
0.83
0.80
1.43
1.52
0.88
1.84
1.76
1.05
1.13
1.22
1.32
1.44
1.37
1.46
Interest Coverage Ratio
3.43
4.58
5.02
4.64
4.94
3.71
Working Capital/Sales
-0.05
-0.04
-0.12
-0.14
-0.15
-0.11
-0.13
-0.11
-0.14
-0.12
-0.13
-0.11
-0.09
-0.35
-0.52
Dividend Payout Ratio %
30.28%
41.39%
-42.36%
46.25%
30.72%
32.50%
31.10%
41.24%
50.53%
50.58%
53.82%
59.50%
53.82%
411.55%
173.84%
Total Payout
$-685.25
295.15
-572.65
335.63
131.42
-36.36
-148.97
278.18
-201.51
-310.56
-356.17
-344.00
-266.03
-86.92
102.58
218.01%Payout Ratio %
-93.59%
54.28%
-103.13%
62.92%
15.52%
-4.31%
-15.99%
37.14%
-30.89%
-44.81%
-51.88%
-54.02%
-37.04%
-372.33%
181.82%