Pinnacle West Capital (PNW) Operating Expenses (2009 - 2026)
Pinnacle West Capital's Operating Expenses came in at $1.02 billion for Q1 2026, up 4.4% from $975.06 million a year earlier and up 1.1% from the prior quarter.
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Analysis
Pinnacle West Capital (PNW) Operating Expenses (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Mar 31, 2026, Pinnacle West Capital reported Operating Expenses of $4.32 billion, up 2.7% year-over-year; for FY2025, it came in at $4.27 billion, up 3.9% from FY2024.
- Operating Expenses has increased in each of the last five years, with a five-year compound annual growth rate of 8.8% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $4.11 billion in FY2024 (+6.2%), $3.87 billion in FY2023 (+7.8%), $3.59 billion in FY2022 (+19.8%) and $3 billion in FY2021 (+7.1%).
- The five-year range for quarterly Operating Expenses is $721.86 million (Q2 2021) to $1.24 billion (Q3 2025).
- Year-over-year, Operating Expenses increased in seven of the last eight quarters, with growth averaging 5.8%.
- The fastest year-over-year change in Operating Expenses over five years came in Q4 2022 (growth of 29.9%), and the weakest in Q4 2023 (a decline of 5.7%).
- Business Quant data shows PNW's Operating Expenses at $1.01 billion (Q4 2025), $1.24 billion (Q3 2025) and $1.05 billion (Q2 2025) in the three quarters before Q1 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Nextera Energy | 162.78 Bn | 152.72 Bn | - | 5.29 Bn |
| 2 | Southern | 100.19 Bn | 91.25 Bn | 5.92 Bn | 5.20 Bn |
| 3 | Duke Energy | 91.91 Bn | 88.50 Bn | 6.74 Bn | 6.84 Bn |
| 4 | National Grid | 77.40 Bn | 49.69 Bn | - | - |
| 5 | American Electric Power | 68.36 Bn | 65.53 Bn | 3.84 Bn | 4.20 Bn |
| 6 | Dominion Energy | 54.82 Bn | 52.81 Bn | - | 4.15 Bn |
| 7 | Sempra | 53.87 Bn | 52.99 Bn | 2.89 Bn | 1.35 Bn |
| 8 | Entergy | 48.18 Bn | 37.31 Bn | - | 2.67 Bn |
| 9 | Xcel Energy | 46.63 Bn | 41.53 Bn | - | 2.41 Bn |
| 10 | Pinnacle West Capital | 12.32 Bn | 12.26 Bn | 712.87 Mn | 1.02 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 1.02 Bn |
| Dec 31, 2025 | 1.01 Bn |
| Sep 30, 2025 | 1.24 Bn |
| Jun 30, 2025 | 1.05 Bn |
| Mar 31, 2025 | 975.06 Mn |
| Dec 31, 2024 | 1.01 Bn |
| Sep 30, 2024 | 1.22 Bn |
| Jun 30, 2024 | 995.25 Mn |
| Mar 31, 2024 | 884.92 Mn |
| Dec 31, 2023 | 917.19 Mn |
| Sep 30, 2023 | 1.12 Bn |
| Jun 30, 2023 | 938.42 Mn |
| Mar 31, 2023 | 894.24 Mn |
| Dec 31, 2022 | 972.56 Mn |
| Sep 30, 2022 | 1.05 Bn |
| Jun 30, 2022 | 838.57 Mn |
| Mar 31, 2022 | 729.04 Mn |
| Dec 31, 2021 | 748.84 Mn |
| Sep 30, 2021 | 878.88 Mn |
| Jun 30, 2021 | 721.86 Mn |
API Access
Pinnacle West Capital Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PNW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PNW", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PNW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();