What is Pinnacle West Capital's regulatory asset?

Pinnacle West Capital (PNW) reported regulatory asset of $1.65B in Q1 2026.

How has Pinnacle West Capital's regulatory asset changed year-over-year?

Pinnacle West Capital's regulatory asset decreased by 2.6% year-over-year, from $1.69B to $1.65B.

What is the long-term trend for Pinnacle West Capital's regulatory asset?

Over 2 years (2023 to 2025), Pinnacle West Capital's regulatory asset has grown at a -6.8% compound annual growth rate (CAGR), from $2.02B to $1.75B.

Pinnacle West Capital PNW Regulatory Asset

Regulatory Asset at other companies

Duke EnergyDUK

$17.01B-1.5%

Essential UtilitiesWTRG

$2.11B+8.7%

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 us-gaap:RegulatoryAssets.

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 regulatory asset?: Pinnacle West Capital (PNW) reported regulatory asset of $1.65B in Q1 2026.
How has Pinnacle West Capital's regulatory asset changed year-over-year?: Pinnacle West Capital's regulatory asset decreased by 2.6% year-over-year, from $1.69B to $1.65B.
What is the long-term trend for Pinnacle West Capital's regulatory asset?: Over 2 years (2023 to 2025), Pinnacle West Capital's regulatory asset has grown at a -6.8% compound annual growth rate (CAGR), from $2.02B to $1.75B.