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Pinnacle West Capital PNW Construction work in progress

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Other financials

Income statement

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Revenue$1.1B+11.4%
Gross profit$712.9M+9.3%
Operating income$131.2M+129%
Net income$35.1M+10,489%
EPS (diluted)$0.27+775%

Balance sheet

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Cash & equivalents$6.4M-36.2%
Total debt$15.1B+24.8%
Total equity$7.1B+4.9%
Total assets$30.7B+12.7%

Cash flow

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Operating cash flow$235.3M-41.5%
CapEx$628.4M+0.9%
Free cash flow-$393.1M-78.1%

Valuation

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Market cap$12.4B+7.4%
Enterprise value$27.54B+16.4%
P/E18.6×-0.4×
P/S2.3×+0.1×

Profitability

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Gross margin63.5%-1.0pp
Operating margin20.9%+1.7pp
Net margin12.2%+0.6pp
FCF margin-18.9%+14.3pp

Returns & leverage

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Return on equity9.7%+0.3pp
Debt / equity2.1×+0.3×
Current ratio0.6×+0.1×

Where this comes from

Reported directly by Pinnacle West Capital in its filing.

Tagged under the XBRL concept pnw:ConstructionWorkInProgressGross.

The official record: Pinnacle West Capital’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Pinnacle West Capital's construction work in progress?
Pinnacle West Capital (PNW) reported construction work in progress of $1.89B in Q1 2026.
How has Pinnacle West Capital's construction work in progress changed year-over-year?
Pinnacle West Capital's construction work in progress increased by 1.6% year-over-year, from $1.86B to $1.89B.
What is the long-term trend for Pinnacle West Capital's construction work in progress?
Over 5 years (2020 to 2025), Pinnacle West Capital's construction work in progress has grown at a 12.0% compound annual growth rate (CAGR), from $937.38M to $1.65B.
What does construction work in progress mean?
Costs for infrastructure projects currently being built but not yet operational.
How do you interpret construction work in progress?
High levels of construction work in progress indicate significant ongoing capital investment and future growth potential.
How does construction work in progress compare across companies?
Critical for utilities undergoing grid modernization or generation capacity upgrades.