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Pinnacle West Capital PNW Q3 2025 earnings

Reported November 3, 2025 · Before market open

Revenue$1.8BBeat by $651.0M
EPS$3.39Beat by $0.35
Revenue estimate$1.2B
EPS estimate$3.04

Next report

Nov 2, 2026 (in 2 months)
Revenue estimate$1.8B
EPS estimate$3.11

Financials

Q3 2025

Income statement

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Revenue$1.8B+2.9%
Gross profit$1.2B+2.4%
Operating income$581.8M+6.4%
Net income$417.5M+4.6%
EPS (diluted)$3.39+0.6%

Balance sheet

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Cash & equivalents$30.9M-37.2%
Total debt$14.2B+25.9%
Total equity$7.2B+8.3%
Total assets$29.9B+13.6%

Cash flow

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Operating cash flow$665.0M+5.0%
CapEx$623.0M-6.4%
Free cash flow-+100%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$10.71B+6.3%
Enterprise value$24.92B+16.8%
P/E17.4×+1.5×
P/S2×0.0×

Profitability

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Gross margin64%-0.1pp
Operating margin19.4%-0.5pp
Net margin11.6%-1.0pp
FCF margin-14.3%+0.3pp

Returns & leverage

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Return on equity8.9%-0.8pp
Debt / equity2×+0.3×
Current ratio0.7×0.0×

Segments

By product

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Retail Electric Service$963.2M-0.3%
Wholesale Energy Sales$46.3M—
Transmission Services for Others$44.3M+14.4%
Other Sources$1.7M-34.8%

By segment

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Other-—

FAQ

When did Pinnacle West Capital report Q3 2025 earnings?
Pinnacle West Capital (PNW) reported Q3 2025 earnings on November 3, 2025 before market open.
What were Pinnacle West Capital's Q3 2025 revenue and EPS?
Pinnacle West Capital reported revenue of $1.8B and eps of $3.39 for Q3 2025.
Did Pinnacle West Capital beat estimates in Q3 2025?
Revenue beat the consensus estimate of $1.2B by $651.0M. EPS beat the consensus estimate of $3.04 by $0.35.
How did Pinnacle West Capital's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.9% from $1.8B a year earlier and eps grew 0.6% from $3.37.