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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 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

Calculated from Pinnacle West Capital’s reported figures.

Plus components not separately reported this period.

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 total debt?
Pinnacle West Capital (PNW) reported total debt of $15.14B in Q1 2026.
How has Pinnacle West Capital's total debt changed year-over-year?
Pinnacle West Capital's total debt increased by 24.8% year-over-year, from $12.13B to $15.14B.
What is the long-term trend for Pinnacle West Capital's total debt?
Over 5 years (2020 to 2025), Pinnacle West Capital's total debt has grown at a 15.6% compound annual growth rate (CAGR), from $6.92B to $14.3B.
What does total debt mean?
The total amount of money the company owes to banks, bondholders, and other lenders.
How do you interpret total debt?
An increase in total debt may signal aggressive capital investment or liquidity challenges, while a decrease indicates deleveraging or improved cash flow generation. For a utility, this metric must be viewed in the context of regulated rate base growth and capital expenditure requirements.
How does total debt compare across companies?
Regulated utilities typically maintain high levels of total debt to finance infrastructure, with peer comparisons often focused on the debt-to-capitalization ratio or debt-to-EBITDA to assess creditworthiness.