PINNACLE WEST CAPITAL CORP (PNW) closed fiscal year 2025 with a gross margin of 41.6 % and a net margin of 11.5 %.
PINNACLE WEST CAPITAL CORP (PNW) closed fiscal year 2025 with a gross margin of 41.6 % and a net margin of 11.5 %. The same year shows an EBITDA margin of 38.2 % and an EBIT margin of 20.0 %. The free cash flow margin was -15.3 %. Against the previous year the gross margin moved −0.1 pp and the net margin −0.3 pp. Across the period the gross margin ranges between 39.3 % in 2023 and 72.5 % in 2017. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | 69.26 % | 72.48 % | 70.85 % | — | — | — | 39.50 % | 39.28 % | 41.70 % | 41.60 % |
| EBITDA margin (%) | 31.50 % | 33.83 % | 37.24 % | 38.26 % | 40.37 % | 38.75 % | 37.45 % | 40.80 % | 40.03 % | 42.64 % | 38.60 % | 38.49 % | 41.10 % | 40.08 % | 35.84 % | 35.75 % | 38.41 % | 38.15 % |
| EBIT margin (%) | 18.10 % | 19.54 % | 22.42 % | 23.03 % | 25.80 % | 24.50 % | 23.23 % | 24.45 % | 23.88 % | 25.52 % | 20.96 % | 19.36 % | 21.97 % | 21.17 % | 16.93 % | 17.56 % | 19.75 % | 19.99 % |
| Net margin (%) | 7.52 % | 2.17 % | 10.98 % | 10.47 % | 11.56 % | 11.75 % | 11.39 % | 12.51 % | 12.63 % | 13.70 % | 13.84 % | 15.51 % | 15.35 % | 16.27 % | 11.18 % | 10.68 % | 11.88 % | 11.55 % |
| FCF margin (%) | -2.72 % | 9.60 % | 0.07 % | 7.44 % | 8.53 % | 3.97 % | 5.41 % | 0.52 % | -7.21 % | -8.15 % | 2.68 % | -6.76 % | -10.04 % | -16.13 % | -10.78 % | -13.60 % | -12.48 % | -15.35 % |
