Direct Answer
Pinnacle West Capital reported revenue of $5.3 billion for the fiscal year ended December 31, 2025, with an operating margin of 20.0% and net income of $632 million, according to its SEC filings. Revenue grew 4.2% from the prior year.
What Are Pinnacle West Capital's Key Financial Figures?
| Fiscal year | FY2025 ended December 31, 2025 | FY2024 ended December 31, 2024 | FY2023 ended December 31, 2023 | FY2022 ended December 31, 2022 |
|---|---|---|---|---|
| Revenue | $5.3 billion | $5.1 billion | $4.7 billion | $4.3 billion |
| Operating income | $1.1 billion | $1.0 billion | $825 million | $732 million |
| Operating margin | 20.0% | 19.7% | 17.6% | 16.9% |
| Net income | $632 million | $626 million | $519 million | $501 million |
| Net margin | 11.8% | 12.2% | 11.0% | 11.6% |
| Operating cash flow | $1.8 billion | $1.6 billion | $1.2 billion | $1.2 billion |
| Capital expenditures | $2.6 billion | $2.2 billion | $1.8 billion | $1.7 billion |
| Free cash flow | -$820 million | -$639 million | -$639 million | -$466 million |
Operating margin held roughly steady between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was -$820 million against net income of $632 million; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement.
What Does Pinnacle West Capital's Balance Sheet Show?
| Cash and cash equivalents | $7 million |
|---|---|
| Long-term debt | $9.2 billion |
| Total assets | $30.0 billion |
| Total liabilities | Not reported |
| Shareholders' equity | $7.0 billion |
| Current ratio | 0.5x |
Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.
Where These Numbers Come From
Every figure on this page is a value Pinnacle West Capital reported in its own SEC filings, read from the SEC's XBRL data (accession 0000764622-26-000011 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
What was Pinnacle West Capital's revenue in fiscal 2025?
Pinnacle West Capital reported revenue of $5.3 billion for the fiscal year ended December 31, 2025, according to its SEC filings.
What is Pinnacle West Capital's operating margin?
Pinnacle West Capital's operating margin was 20.0% in fiscal 2025: operating income of $1.1 billion on revenue of $5.3 billion.
How much free cash flow did Pinnacle West Capital generate?
Operating cash flow of $1.8 billion less capital expenditures of $2.6 billion gives free cash flow of -$820 million for fiscal 2025.