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Pinnacle West Capital Corporation

PNW

Utilities · 96.58 -0.6% today

Participation confirmed · construction unavailableMarket checked 10 Sept, 15:55 GMT-4

Market read

Pinnacle West Capital Corporation's move is being confirmed by its market group.

No new filing conclusion is available. 13 of 35 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.

Company-0.6% todayVolume comparison unavailable
Market group13 of 35 activePackaged Foods & Beverages · inactive
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
  • At least 23 of 35 durable members become active together.
  • Capital-flow agreement rises above 55%.
  • A filing-linked outsider such as HELE begins moving with the group.

Invalidation: The live read weakens if participation falls to 12 of 35 members or fewer.

Watch this read

Research brief

The story so far

Utilities · Utilities - Regulated Electric

No new filing conclusion is available. 13 of 35 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • At least 23 of 35 durable members become active together.
  • Capital-flow agreement rises above 55%.
  • A filing-linked outsider such as HELE begins moving with the group.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements121
Verified relationships8
Evidence supporting the case
  • Data center and AI demand has repeated favorable evidence across 4 filings.
  • Supply chain and availability has repeated favorable evidence across 4 filings.
  • Tariffs and trade policy has repeated favorable evidence across 4 filings.
Evidence challenging the case
  • Diluted shares increased 4.9% in the latest annual period.
  • Credit and interest rates has repeated adverse evidence across 5 filings.
Questions before a position
  • EV/sales is 31% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

96.58
6m-4.0%12m+10.5%24m+9.2%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$3.8B+6.0%$5.47+0.2%
2022-12-31$4.3B+13.7%$4.26+0.2%
2023-12-31$4.7B+8.6%$4.41+0.3%
2024-12-31$5.1B+9.1%$5.24+2.1%
2025-12-31$5.3B+4.2%$5.05+4.9%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 5 filings
APS’s consolidated net cash provided by financing activities was $503 million in 2026 compared to $561 million in 2025, a decrease of $58 million in net cash provided primarily due to a net decrease of $753 million in short-term borrowings and $200 million in…
10-Q · Aug 4, 2026
Data center and AI demandpositive · 4 filings
While steady customer growth was somewhat offset by lower usage among residential customers, energy savings driven by customer conservation, energy efficiency, and distributed renewable generation initiatives, the main drivers of increased revenues for this p…
10-Q · May 4, 2026
Supply chain and availabilitypositive · 4 filings
As a result of increased tariffs and supply chain constraints, APS amended several of its agreements from its ASRFP issued in 2023 to mitigate these cost impacts.
10-Q · Aug 4, 2026
Tariffs and trade policypositive · 4 filings
As a result of increased tariffs and supply chain constraints, APS amended several of its agreements from its ASRFP issued in 2023 to mitigate these cost impacts.
10-Q · Aug 4, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 2.2× · EV/sales 3.9×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

96.58-0.6% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for PNW. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for PNW. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind PNW

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

PWFiling-linked namepartnerFeb 25, 2026

PNW Power’s investments include TransCanyon, a 50/50 joint venture that was formed in 2014 with BHE U.S.

PWFiling-linked nameinvesteeFeb 25, 2026

Certain investments and assets that BCE previously held, including the TransCanyon joint venture and holdings in the two Tenaska wind farm investments, were not included in the BCE Sale and were instead transferred to Pinnacle West Power, LLC (“PNW Power”), a…

BRK-BBerkshire Hathaway Inc.investeeFeb 25, 2026

Transmission LLC, a subsidiary of Berkshire Hathaway Energy Company.

Filing peers

No filing peers are available for this name yet.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

PNW is currently a Participant in the organic co-movement group Packaged Foods & Beverages. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.