# Pinnacle West Capital Corporation (PNW) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Utilities / Electric Utilities. Price $97.52, market value $11.8 billion.

## Valuation
- **P/E (trailing): 18.7×** (5-yr avg 14.6×, 3-yr avg 15.7×). Pinnacle West Capital Corporation trades at 18.7× trailing earnings, well above its own five-year average of 14.6×: investors are paying up relative to the company's past. The Utilities median in the September 2026 study was 21.2×. Forward P/E is 17.5×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 2.1×**. Each dollar of revenue is priced at 2.1×.
- **Price / book: 1.7×**. The shares trade at 1.7× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 10.1×**. Enterprise value is 10.1× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: -7.4%** (5-yr avg -7.8%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 5.3%**. The inverse of the P/E: 5.3% of the price is earned each year.

## Profitability
- **Operating margin: 20.5%**. 20.5% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 11.8%**. 11.8% of each dollar of sales reaches the bottom line.
- **Return on equity: 9.0%**. 9.0% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 5.3%**. Return on all capital, debt included, is 5.3%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 2.2%**. Each dollar of assets produces 2.2% of profit.

## Growth
- **Revenue growth (1 yr): 4.2%** (3-yr 7.3%/yr, 5-yr 8.3%/yr). Revenue grew 4.2% over the last year, against 8.3% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -3.6%** (3-yr 5.8%/yr, 5-yr 0.7%/yr). Earnings per share fell 3.6%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 1.39**. Debt is 1.39 times equity, a leveraged balance sheet, which is normal for utilities.
- **Net debt / EBITDA: 4.6×**. It would take 4.6 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.73%** ($3.63 per share, trailing). Pinnacle West Capital Corporation yields 3.73%, an income-level yield.
- **Payout ratio: 67%**. 67% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 2.5%/yr** (1-yr 1.7%). The dividend has grown 2.5% a year over five years.

## Analyst view
- **Analyst consensus: hold** (13 analysts). 13 analysts cover Pinnacle West Capital Corporation; the consensus is hold, with an average price target of $105.85 (+9% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 12.4%** (YTD 12.0%, 3-mo -5.4%). The shares are up 12.4% over twelve months including dividends.
- **From 52-week high: -12.3%** (14.3% above the low). Trading 12% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 36**. An RSI of 36 is neutral.
- **Beta (1 yr): -0.13** (volatility 17%). Beta of -0.13 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=PNW · Page: https://foliofundamentals.com/stocks/pnw

Not investment advice.