# PINNACLE WEST CAPITAL CORPORATION (PNW) · Edgar & Edgarette company card

> Pinnacle West Capital (PNW) grew revenue 4.2% in FY2025 to $5.3 billion, operating margin 20.0%, in line with the 20.3% median for electric services, equity 23.5% of assets, and dividend per share up 12 years running. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 764622 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/PNW) · [JSON](https://www.pops4.com/boards/company/PNW.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $5.3B |
| Revenue growth, 1 year | 4.2% |
| Revenue growth per year | 8.9% |
| Operating margin | 20.0% (prior year 19.7%) |
| Net margin | 11.8% |
| Operating cash flow | $1.8B |
| Capital spending | $2.6B |
| Free cash flow | −$820M |
| Cash | $7M |
| Long-term debt | $9.8B |
| Total assets | $30.0B |
| Total equity | $7.0B |
| Equity ÷ assets | 23.5% |
| Return on equity | 9.0% |
| Dividend per share | $3.61 |
| Dividend years rising | 12 |

## Readings, computed from those figures

- Piotroski F: 4 of 9 (middling)
- Health Harbor boat: New ship · no warning signs
- Cash Compass: Cash cow now · steady, with strong cash arriving today

## Edgarette's reading

Exposure: revenue $5.3B (FY2025), total debt $9.8B. Experience: revenue up 4.2% on the year, up 8.9% a year over 4 years; operating margin 20.0%, up from 19.7%. Soundness: equity 23.5% of assets, return on equity 9.0%, payout 66.9% of profit, dividend per share up 12 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $5.0B and $6.0B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $4.7B to $6.5B. A statistical range, not company guidance. Against peers (40 filers, $50M+ revenue, electric services): operating margin 20.0% against a 20.3% median; growth 4.2% against 9.4%.

Range logged 2026-09-26, receipt 3a67a87ebabb2d5b, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-06-29 ([filing](https://www.sec.gov/Archives/edgar/data/764622/000076462226000034/0000764622-26-000034-index.htm))

## Recent filings

- 8-K · filed 2026-11-03 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/764622/000076462226000051/0000764622-26-000051-index.htm)
- 10-Q · filed 2026-11-03 · [filing](https://www.sec.gov/Archives/edgar/data/764622/000076462226000050/0000764622-26-000050-index.htm)
- 8-K · filed 2026-09-30 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/764622/000076462226000049/0000764622-26-000049-index.htm)
- 8-K · filed 2026-09-04 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/764622/000076462226000046/0000764622-26-000046-index.htm)
- 8-K · filed 2026-08-13 · 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/764622/000110465926095989/0001104659-26-095989-index.htm)
- 8-K · filed 2026-08-07 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/764622/000076462226000044/0000764622-26-000044-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000764622.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=764622

## Cite

POPS4, Edgar & Edgarette: PINNACLE WEST CAPITAL CORPORATION (PNW) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/PNW. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.