How profitable is Pinnacle West Capital Corporation (PNW)?

In FY 2025 (10-K), PNW converted $5.3B of revenue into a 52% gross margin, 20% operating margin, and $1.6B in free cash flow (29.3% FCF margin).

Stock Ratings / Utilities / PNW / financials

KEP (46) EMA (65) AES (34) OGE (69) ⌘ Pro Terminal →

Pinnacle West Capital Corporation (PNW) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$106.28 -0.34% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $106.01

Pinnacle West Capital Corporation (PNW) carries a Roarable Rating of C (Hold) with 65/100 RQD Confidence. The composite score sits in the neutral Hold band (59–69), meaning current holders don’t need to panic-sell while prospective buyers can wait for a move into the 70+ Buy zone.

ROARABLE C • HOLD / WATCH Cap $12.88B

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on PNW Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is PNW stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Pinnacle West Capital Corporation (NYSE: PNW) is rated C (Hold / HOLD) by Roarable's 5-pillar RQD engine with a composite confidence score of 65/100 at a spot price of $106.28 (-0.34% 1D, market cap $12.88B). Pillar breakdown: Fundamental Cash Engine 11/20, Institutional 13F & Options Flow 15/20, SEC Balance-Sheet Forensics 10/20, FRED Macro Regime Fit 13/20, and Executive Insider Alignment 16/20. Across 116 tracked Utilities issuers, PNW ranks #21 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does PNW compare to KEP and EMA in the Utilities sector?

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Within the Utilities sector (Electric Utilities: Central), PNW carries a Roarable C (65/100 RQD), trailing P/E of 15.5x, gross margin of —, and ROIC of 5.2%. By comparison, KEP (Korea Electric Power Corporation) holds a D grade (46/100 RQD, P/E N/A, ROIC —, cap $13.28B) and EMA (Emera Incorporated) posts a C grade (65/100 RQD, P/E 32.8x, ROIC 9.9%, cap $15.14B). Among the 5-stock peer group, AES leads on earnings multiple (11.8x) while EMA leads on capital efficiency (9.9% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for PNW?

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Per PNW's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000764622), Pinnacle West Capital Corporation generated $5.34B in revenue (+4.2% YoY), $0 in net income, and $1.56B in free cash flow against $30.03B in total assets and $9.21B in total debt. Key quantitative strengths: Big institutional funds and options desks are actively positioning on the bullish side. Primary risk factors monitored: Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $106.01 (-0.25%)🧬 Cannibal Buyback (-2.36% YoY Shares)⚙️ Cash Engine: 11/20 (D+) • 29.3% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record: Scores of 65/100 (C) historically posted market-perform odds over rolling 90-day windows (+1.3% avg 90D alpha vs SPY • 55.6% hit rate — wait for RQD ≥ 70 breakout).

Audit Bucket Track Record →

RQD QUANT TACHOMETERHOLD / WATCH • C

JEV AI Jury Split (Battleground)

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw B- · Rk D+

Each axis scored 0–20

12M PRICE TARGET CONE+3.2% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for PNW)Realized 20D OHLCV Swing Band: ±3.5%

Deterministic 5-Pillar Attribution (65/100 Composite)

🔍 WHY PNW SCORES 65/100 (C) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Insider Conviction & Share Dilution+16/20 pts (25% of score)

SEC Form 4 / 13F Thermometer: 80% Net Buy • Cannibal Buyback (-2.36% YoY Shares)

▲ #2 Bullish Driver: Whale & Options Positioning+15/20 pts (23% of score)

20D Institutional Volume Accumulation (±3.5% realized swing band)

▼ #1 Drag / Risk Factor: SEC 10-K Forensic Risk10/20 pts (-10 pt drag)

Balance-sheet & 10-K footnote risk deducts 10 pts from forensic ceiling

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade C$102.04+1.8% Next Q

Q2 (-2Q)

Grade C$103.89+0.9% Next Q

Q3 (-1Q)

Grade C+$104.87+1.3% Next Q

Current

Grade C$106.28+1.3% Hist 90D α

Trajectory: C (57) → C (65)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the PNW Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 65/100 (C) score, PNW faces multiple-compression risk if 15.5x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-2.36% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($98.83) or 200D SMA ($100.61) invalidates the momentum regime and cuts Target Base ($109.63) toward Bear Floor ($85.51).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $PNW• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “PNW Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 65%NO 35%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How PNW Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$1.56B (29.3% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $4.70B

FY24

Rev $5.12B

FY25

Rev $5.34B

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$5.34B	52%	20%	$0	$1.56B	5.2%
FY 2024	$5.12B	52%	19.7%	$0	$1.38B	5.4%
FY 2023	$4.70B	52%	17.6%	$0	$996.4M	15.2%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring PNW)

✓Walkthrough of PNW's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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PNW // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +4.38%⚡ TESTING RESISTANCE

2026-11-03O $106.6H $106.6L $106.3C $106.3VOL 1.23M

RES: $107.6SUP: $84.03SMA50: $98.83SMA200: $100.6

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

PNW Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 PNW Butterfly Map → + Track PNW →

Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle

7.9%/yr Implied 5Y Growth

vs. +4.2% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on PNW today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for PNW. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for PNW today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (PNW)

Utilities Rank #21 of 116 ⚔️ KEP vs PNW Full Matrix →

1. Head-to-Head Utilities Peer Comparison (PNW vs. KEP, EMA, AES, OGE)

Industry: Electric Utilities: Central (56 Tracked Issuers)

Across 116 tracked Utilities securities in the Roarable RQD universe, Pinnacle West Capital Corporation (PNW) ranks #21 by composite RQD confidence (65/100, grade C) and #40 by equity capitalization ($12.88B). Within this direct 5-issuer industry benchmark cohort, AES leads on earnings valuation at 11.8x trailing P/E, while EMA leads on capital efficiency and profitability with 9.9% ROIC and — gross margin. OGE currently holds the highest overall quantitative score in the immediate peer group at 69/100 (C+) compared with PNW at 65/100 (C).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
PNW ACTIVE Pinnacle West Capital Corporation	C	65/100	15.5x	—	5.2%	-0.34%	$12.88B	Benchmark Subject
KEP Korea Electric Power Corporation	D	46/100	—	—	—	-0.58%	$13.28B	/kep-vs-pnw →
EMA Emera Incorporated	C	65/100	32.8x	—	9.9%	-0.18%	$15.14B	/ema-vs-pnw →
AES The AES Corporation	E	34/100	11.8x	18.1%	6.7%	-1.46%	$10.58B	/aes-vs-pnw →
OGE OGE Energy Corp	C+	69/100	21.7x	60.5%	6.1%	+0.20%	$10.23B	/oge-vs-pnw →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0000764622 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Pinnacle West Capital Corporation (PNW) reported GAAP revenue of $5.34B (+4.2% vs. FY2024 revenue of $5.12B , and +13.7% cumulative change since FY2023) , GAAP net income of $0, operating cash flow of $1.81B, and free cash flow of $1.56B (+13.5% YoY). On the balance sheet, PNW closed FY2025 with $30.03B in total assets against $9.21B in total debt (Altman Z-Score: 0.95, Piotroski F-Score: 6/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$5.34B	$0	$1.81B	$1.56B	$30.03B	$9.21B
FY2024 (FY)	2024-12-31	$5.12B	$0	$1.61B	$1.38B	$26.10B	$8.06B
FY2023 (FY)	2023-12-31	$4.70B	$0	$1.21B	$996.4M	$7.11B	$1.66B

3. PNW Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is PNW stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does PNW compare to KEP and EMA in the Utilities sector?

What are the biggest fundamental strengths and SEC risk factors for PNW?

Where is PNW trading relative to its 50-day, 200-day, and 52-week technical levels?

PNW last traded at $106.28 (-0.34% on volume of 1,226,777 shares), positioning the stock +7.54% above its 50-day simple moving average ($98.83) and +5.64% above its 200-day simple moving average ($100.61). Across its 52-week range of $86.18 to $111.16, PNW sits at the 80.5% percentile with a 14-day RSI of 64.9 (BULLISH MOMENTUM) and an implied next-earnings move of ±3.5% ($102.56 to $110.00).

Direct Sub-Reports: PNW RQD Cockpit PNW 12M Forecast PNW Earnings & Move PNW Dividends & DRIP PNW Insiders & 13F PNW Whale Options PNW Profit Sankey PNW News & Why

ROARABLE RATING BRIEF • RQD 65/100 (C) ✓ SEC XBRL & RQD VERIFIED

PNW — Pinnacle West Capital Corporation: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit

Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Pinnacle West Capital Corporation (PNW) earns a live Roarable RQD composite score of 65/100, corresponding to a C letter grade (Roarable Hold) at a spot price of $106.28 (-0.34% 1D, market capitalization $12.88B).

Fundamental Cash Engine (11/20): Anchored by return on invested capital (ROIC) of 5.2%, gross margin of —, operating margin of 20.0%, and free cash flow yield of 12.11%.
Whale 13F & Options Flow (15/20) + Insider Conviction (16/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
Macro Regime Fit (13/20) + Forensic Balance Sheet (10/20): Incorporates a 0.69x equity beta, Altman Z-Score of 0.95, Piotroski F-Score of 6/9, and Debt/Equity of 1.31x.

2. Business Model, Unit Margins & SEC Financial Trajectory

Pinnacle West Capital Corporation (PNW) is a NYSE-listed issuer in the Utilities sector, specifically the Electric Utilities: Central industry, profile.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Pinnacle West Capital Corporation (PNW) reported $5.34B in annual revenue (up from $5.12B in FY2024, +4.2% YoY) and $0 in GAAP net income. Over the multi-year SEC filing window from FY2023 ($4.70B revenue, $0 net income) through FY2025, PNW scaled operating cash flow to $1.81B and free cash flow to $1.56B, backed by $30.03B in total assets against $9.21B in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

🐂 Primary Bull Case (C • RQD 65/100): Big institutional funds and options desks are actively positioning on the bullish side. Company leadership has skin in the game with net positive insider conviction. With Fundamental Cash Engine at 11/20 and Institutional Whale Flow at 15/20, sustained execution supports upside toward the upper end of the $86.18 – $111.16 52-week range.
🐻 Primary Bear Case & Valuation Risk: Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins. Investors must weigh 15.5x trailing P/E and 17.4x EV/EBITDA against 20.0% operating margins and a 0.69x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Supply_chain is NONE, with no upstream or downstream links and no proprietary signals recorded. Sector and industry are Utilities and Electric Utilities: Central.

Key Question #1: Can PNW sustain or expand its 20.0% operating margin and 5.2% ROIC against Electric Utilities: Central peers over the next 4 quarters?
Key Question #2: Following FY2025 revenue of $5.34B and free cash flow of $1.56B, how will capital allocation balance growth reinvestment against $9.21B in total debt?
Key Question #3: How sensitive is PNW's 14.4x forward P/E multiple to Utilities capital spending cycles and macro interest-rate shifts (Beta 0.69x)?

PNW Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Pinnacle West Capital Corporation (PNW) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to PNW Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo! Finance Canada • 22h ago

Pinnacle West Capital Corporation (PNW) Stock Price, News, Quote & History

Yahoo! Finance Canada report covering Pinnacle West Capital Corporation (PNW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST TradingView • 1d ago

Pinnacle West Capital Corporation Stock 12‑Month Price Target Raised to $104.27

TradingView report covering Pinnacle West Capital Corporation (PNW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Is Pinnacle West Capital (PNW) Stock Outpacing Its Utilities Peers This Year?

Yahoo Finance report covering Pinnacle West Capital Corporation (PNW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST marketscreener.com • 1d ago

Pinnacle West Capital Increases Quarterly Dividend by 1.6% to $0.925 per Share Payable Dec.1, to Shareholders of Record Nov. 2

marketscreener.com report covering Pinnacle West Capital Corporation (PNW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Quiver Quantitative • 1d ago

Lobbying Update: $60,000 of PINNACLE WEST CAPITAL CORPORATION lobbying was just disclosed

Quiver Quantitative report covering Pinnacle West Capital Corporation (PNW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Pinnacle West Capital to Post Q3 Earnings: What's in the Cards?

Yahoo Finance report covering Pinnacle West Capital Corporation (PNW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST TradingView • 1d ago

Will Rising Customer Demand Support PNW's Long-Term Earnings Growth?

TradingView report covering Pinnacle West Capital Corporation (PNW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

AVA vs. PNW: Which Stock Is the Better Value Option?

Yahoo Finance report covering Pinnacle West Capital Corporation (PNW) market action, institutional positioning, and fundamental catalysts.

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🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

PNW Bull vs. Bear Conversation Board — What's Your Call at $106.28?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON PNW 🐻 33% BEARISH CONVICTION

SI SiliconVal_Bull RQD DEBATE OPENER • Growth & Tech Investor 🐂 BULLISH 🎯 Target: $132.85 (+25.0%)

📌 Pinned Debate

A 12.11% FCF yield and a 16/20 insider-conviction pillar, backed by a 1.6% dividend increase to $0.925 per share, point to cash generat

Don't sleep on PNW's setup in Utilities. A 12.11% FCF yield and a 16/20 insider-conviction pillar, backed by a 1.6% dividend increase to $0.925 per share, point to cash generation and insider confidence the market may not fully price.. Beta of 0.69 means it moves fast when momentum turns, and the 5-pillar RQD gauge (65/100) backs up the fundamental quality.

SectorRotator 🐂 BULL

@CreditSpread_Watch Fair point on 15.5x trailing P/E, but you're ignoring the forward operating leverage in Electric Utilities: Central. If gross margin (0.0%) holds, EPS grows into the multiple faster than bears think.

CR CreditSpread_Watch RQD DEBATE OPENER • Balance Sheet Analyst 🐻 BEARISH 🎯 Target: $87.15 (-18.0%)

Spot @ $106.28

An Altman Z-Score of 0.95 and Debt/Equity of 1.31, with total debt rising from $1.66B to $9.21B, signal a leveraged balance sheet a

Here is the bear case nobody on the bull side wants to address on PNW: An Altman Z-Score of 0.95 and Debt/Equity of 1.31, with total debt rising from $1.66B to $9.21B, signal a leveraged balance sheet and a 5.2% ROIC that is modest relative to that debt load.. At 15.5x trailing P/E, even a small guidance miss in Electric Utilities: Central triggers a 12-15% air pocket.