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Pinnacle West Capital PNW Q4 2025 earnings

Reported February 25, 2026 · Before market open

Revenue$1.1BMiss by $42.2M
EPS$0.13Beat by $0.08
Revenue estimate$1.2B
EPS estimate$0.05

Next report

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

Financials

Q4 2025

Income statement

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Revenue$1.1B+3.0%
Gross profit$707.8M+1.2%
Operating income$121.0M+43.1%
Net income$17.6M—
EPS (diluted)$0.12—

Balance sheet

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Cash & equivalents$6.6M+72.1%
Total debt$14.3B+29.4%
Total equity$7.0B+4.3%
Total assets$30.0B+15.1%

Cash flow

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Operating cash flow$476.8M+8.5%
CapEx$669.5M+25.9%
Free cash flow-$192.7M-109%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$10.62B+10.1%
Enterprise value$24.91B+20.4%
P/E16.8×+1.5×
P/S2×+0.1×

Profitability

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Gross margin63.8%-0.6pp
Operating margin20%+0.2pp
Net margin11.8%-0.4pp
FCF margin-16.1%+6.7pp

Returns & leverage

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Return on equity9.2%-0.6pp
Debt / equity2×+0.4×
Current ratio0.5×-0.1×

Segments

By product

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Retail Electric Service$479.2M-5.2%
Transmission Services for Others$27.8M+11.0%
Wholesale Energy Sales$19.6M-4.0%
Other Sources$4.4M+71.2%

By segment

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Other-—

FAQ

When did Pinnacle West Capital report Q4 2025 earnings?
Pinnacle West Capital (PNW) reported Q4 2025 earnings on February 25, 2026 before market open.
What were Pinnacle West Capital's Q4 2025 revenue and EPS?
Pinnacle West Capital reported revenue of $1.1B and eps of $0.13 for Q4 2025.
Did Pinnacle West Capital beat estimates in Q4 2025?
Revenue missed the consensus estimate of $1.2B by $42.2M. EPS beat the consensus estimate of $0.05 by $0.08.
How did Pinnacle West Capital's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 3.0% from $1.1B a year earlier.
Where can I find Pinnacle West Capital's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000764622-26-000016) directly on SEC EDGAR. The filing index links above go to sec.gov.