Pinnacle West Capital (PNW) Operating Margin (2009 - 2026)
Pinnacle West Capital (PNW) recorded Operating Margin of 21.00% in Q2 2026, down 1.64 percentage points from 22.63% a year earlier but up 9.59 percentage points from the prior quarter.
Powered by 
Analysis
Pinnacle West Capital (PNW) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Pinnacle West Capital's Operating Margin came in at 20.52% as of Jun 30, 2026, up 1.56 percentage points year-over-year; for FY2025, it came in at 19.99%, up 0.25 percentage points from FY2024.
- Annual Operating Margin has increased for three straight years, though with a five-year change of -1.98 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 19.75% in FY2024 (+2.19 pp), 17.56% in FY2023 (+0.64 pp), 16.93% in FY2022 (-4.25 pp) and 21.17% in FY2021 (-0.80 pp).
- Quarterly Operating Margin has ranged from 3.64% in Q4 2022 to 32.82% in Q3 2021 over the past five years.
- On a year-over-year basis, Operating Margin rose in four of the last eight quarters, with an average year-over-year change of +0.64 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 7.63 percentage points in Q2 2024, against a drop of 6.82 percentage points in Q2 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 11.41% (Q1 2026), 10.73% (Q4 2025) and 31.96% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Nextera Energy | 184.16 Bn | 170.91 Bn | - | 32.44% |
| 2 | Southern | 105.91 Bn | 96.97 Bn | 5.92 Bn | 25.46% |
| 3 | Duke Energy | 101.09 Bn | 97.35 Bn | 5.66 Bn | 26.99% |
| 4 | National Grid | 84.08 Bn | 56.38 Bn | - | - |
| 5 | American Electric Power | 70.48 Bn | 68.27 Bn | 4.75 Bn | 26.52% |
| 6 | Dominion Energy | 61.21 Bn | 59.20 Bn | - | 7.34% |
| 7 | Sempra | 54.16 Bn | 53.28 Bn | 2.89 Bn | 17.45% |
| 8 | Entergy | 52.47 Bn | 38.91 Bn | - | 33.93% |
| 9 | Xcel Energy | 50.70 Bn | 44.18 Bn | - | 28.55% |
| 10 | Pinnacle West Capital | 12.84 Bn | 12.79 Bn | 897.25 Mn | 21.00% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.00% |
| Mar 31, 2026 | 11.41% |
| Dec 31, 2025 | 10.73% |
| Sep 30, 2025 | 31.96% |
| Jun 30, 2025 | 22.63% |
| Mar 31, 2025 | 5.54% |
| Dec 31, 2024 | 7.72% |
| Sep 30, 2024 | 30.92% |
| Jun 30, 2024 | 23.97% |
| Mar 31, 2024 | 7.02% |
| Dec 31, 2023 | 7.50% |
| Sep 30, 2023 | 31.52% |
| Jun 30, 2023 | 16.34% |
| Mar 31, 2023 | 5.37% |
| Dec 31, 2022 | 3.64% |
| Sep 30, 2022 | 28.41% |
| Jun 30, 2022 | 21.01% |
| Mar 31, 2022 | 6.95% |
| Dec 31, 2021 | 6.26% |
| Sep 30, 2021 | 32.82% |
API Access
Pinnacle West Capital Operating Margin 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-margin&ticker=PNW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=PNW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();