PINNACLE WEST CAPITAL CORP · Electric Services

PNW

Low riskNext report: In 6 days (est.)

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The short version

A profitable company with steady sales. Institutions are adding.

Going well

Raised its dividend (3.4% yield)
Profitable every year for 10 years
Brings in more cash than it spends

Money moves

No insider buying or selling in the last 30 days
Institutions added 5.9% to their holdings in the quarter ending June 2026 (372 bought, 250 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$105.33-0.5% that day

Company value: $12.8B; Share price times all shares
Price vs profit (P/E): 20.2x; You pay about $20 for each $1 of yearly profit
Price vs sales: 2.3x; Company value is 2.3 times a year of sales
Dividend yield: 3.4%; Yearly dividend as a share of today's price
Cash vs value: 0%; Cash as a share of company value
Debt vs value: 77%; Debt as a share of company value

From PNW's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$1.5B+7.1% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $5.6B, up 5.7% from the 12 months before. Over 5 years, sales grew about 8.3% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of PNW. Starting points are the company's recent numbers.

Sales growth+6% a yearRecently: +5.7% a yearProfit margin12%Last 12 months: 11.7%P/E at the end20xToday: 20.2x. Many steady companies trade at 12x to 25xShare count change+3% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$7.4B

Profit in 5 years$892M

Price these guesses point to$126.97+21% vs $105.33 todayAbout +3.8% a year, before dividends

What today's price needs: with a 12% margin and a 20x P/E, sales would have to grow about 2.1% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/6Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.9.2%
MissDebt under half of equityNot relying on borrowed money.1.39x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.11.8%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$1.8B
MissShare count not growingNot diluting owners. Falling means buybacks.+7.5% in 3 years

Revenue: $5.3B; +4.2% vs prior year
5-year growth: +8.3%/yr; revenue, per year
Total debt: $9.8B; 1.39x equity
Current ratio: 0.54x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 4

Revenue: $1.5B; +7.1% YoY
EPS: $1.43; vs $1.58
Op. margin: 21.0%; -1.6 pts
Free cash flow: -$334.7M
Share count: +2.2%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 1.0
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+5.9%

Institutions added 5.9% to their holdings. 372 bought, 250 sold. 3 quarters of net buying in a row.

Shares held by institutions132.2M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+2.3%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

1.5x · $10.6B debt

Shares outstandingLatest reported

121M

Earnings reports

Last 12

Next reportIn 6 days (est.)Estimated from the same quarter last year

Results filedAug 4
Results filedMay 4
Results filedFeb 25
Results filedNov 3, 2025
Results filedAug 6, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

New 5%+ holder (passive)Aug 12 · View filing ↗Big holder Offering prospectusAug 4 · View filing ↗Offering Offering prospectusJun 5 · View filing ↗Offering Offering prospectusJun 2 · View filing ↗Offering Offering prospectusJun 1 · View filing ↗Offering

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Investor disclosureSep 30 · Form 8-K ↗Investor disclosureSep 4 · Form 8-K ↗Current reportAug 13 · Form 8-K ↗New 5%+ holder (passive)Aug 12 · Form SCHEDULE 13G ↗

SoldJose Luis Jr EsparzaInsider

1,800 shares at $102.01 · $184K

-27% of holdings
Now owns 4,910 shares
Not a pre-planned sale
Filed 4 days after trade

Aug 7Form 4 ↗

SoldElizabeth A BlankenshipVP, Controller and CAO

980 shares at $99.17 · $97K

-8% of holdings
Now owns 10,886 shares
Not a pre-planned sale
Filed 1 day after trade

Aug 10Form 4 ↗

Planned insider saleAug 7 · Form 144 ↗Planned insider saleAug 7 · Form 144 ↗Investor disclosureAug 7 · Form 8-K ↗Earnings resultsAug 4 · Form 8-K ↗Quarterly reportAug 4 · Form 10-Q ↗Offering prospectusAug 4 · Form 424B5 ↗Major agreementAug 4 · Form 8-K ↗Leadership changeJun 29 · Form 8-K ↗Investor disclosureJun 8 · Form 8-K ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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