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Pinnacle West Pinnacle West is an investor-owned electric utility holding company based in Phoenix, Arizona with consolidated assets of approximately $30 billion. We derive essentially all of our revenues and earnings from our principal subsidiary, APS.
19.99% operating margin is respectable but not wide. ROIC at 4.91%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 4.2%, steady but not accelerating.
Negative free cash flow of -$820M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$5.46B
▲ +4.2% YoY
Net Income (TTM)
$654M
▲ +1.3% YoY
Op. Margin
20.92%
▲ +0.2pp YoY
ROIC
4.80%
▼ -0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$992M
▼ -28.2% YoY
Op. Cash Flow (TTM)
$1.64B
▲ +12.1% YoY
Net Debt
$15.14B
Cash & Equiv.
$6M
5Y CAGR: +8.3%
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