Financial Statements — PNW
Balance Sheet
(in billions USD)| Metric | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 0.01 | 0.03 | 0.02 | 0.01 | 0.05 | 0.00 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.03 | 0.01 | 0.03 | 0.01 | 0.02 |
| Total Current Assets | 1.61 | 2.00 | 1.79 | 1.59 | 2.26 | 2.05 | 1.78 | 2.16 | 1.85 | 1.75 | 2.02 | 1.80 | 1.59 | 1.71 | 1.52 | 1.17 |
| Property, Plant & Equipment | 18.47 | 17.32 | 17.20 | 17.00 | 16.38 | 16.29 | 15.87 | 15.62 | 15.47 | 14.55 | 14.48 | 14.50 | 14.25 | 14.02 | 13.96 | 13.76 |
| Intangible Assets | 0.54 | 0.54 | 0.57 | 0.56 | 0.59 | 0.59 | 0.51 | 0.25 | 0.26 | 0.26 | 0.25 | 0.27 | 0.27 | 0.27 | 0.28 | 0.28 |
| Total Non-current Assets* | 29.08 | 27.89 | 27.45 | 25.65 | 24.04 | 23.65 | 23.07 | 22.27 | 22.13 | 21.83 | 20.83 | 20.70 | 20.61 | 19.83 | 19.54 | 19.01 |
| Total Assets | 30.69 | 29.89 | 29.24 | 27.24 | 26.31 | 25.70 | 24.85 | 24.43 | 23.98 | 23.58 | 22.84 | 22.50 | 22.20 | 21.54 | 21.06 | 20.18 |
| Accounts Payable | 0.60 | 0.54 | 0.67 | 0.60 | 0.43 | 0.55 | 0.48 | 0.40 | 0.44 | 0.36 | 0.48 | 0.44 | 0.34 | 0.35 | 0.38 | 0.31 |
| Short-term Debt | 0.59 | 0.68 | 1.41 | 0.87 | 0.62 | 0.53 | 0.79 | 0.42 | 0.31 | 0.50 | 0.47 | 0.54 | 0.26 | 0.13 | 0.50 | 0.21 |
| Total Current Liabilities | 2.70 | 2.97 | 3.43 | 3.17 | 3.20 | 3.11 | 3.06 | 1.97 | 1.93 | 1.72 | 2.06 | 2.02 | 1.60 | 1.65 | 2.02 | 1.33 |
| Long-term Debt | 9.80 | 9.20 | 8.51 | 8.06 | 8.06 | 8.06 | 7.54 | 8.16 | 8.16 | 7.92 | 7.34 | 7.24 | 7.23 | 6.76 | 6.32 | 6.47 |
| Total Non-current Liabilities* | 20.93 | 19.76 | 19.08 | 17.33 | 16.50 | 16.38 | 15.59 | 16.09 | 16.08 | 15.81 | 14.54 | 14.57 | 14.67 | 13.82 | 13.32 | 13.17 |
| Total Liabilities* | 23.62 | 22.72 | 22.51 | 20.50 | 19.69 | 19.49 | 18.65 | 18.06 | 18.01 | 17.53 | 16.60 | 16.59 | 16.27 | 15.47 | 15.34 | 14.50 |
| Retained Earnings | 3.88 | 4.05 | 3.64 | 3.66 | 3.88 | 3.49 | 3.48 | 3.67 | 3.27 | 3.36 | 3.58 | 3.25 | 3.28 | 3.43 | 3.09 | 3.06 |
| Total Stockholder Equity | 7.07 | 7.17 | 6.73 | 6.74 | 6.62 | 6.21 | 6.20 | 6.37 | 5.97 | 6.05 | 6.24 | 5.91 | 5.93 | 6.06 | 5.72 | 5.68 |
* Derived from reported values
Income Statement
(in billions USD) (except per-share rows)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Total Revenue | 1.15 | 1.13 | 1.82 | 1.36 | 1.03 | 1.10 | 1.77 | 1.31 | 0.95 | 0.99 | 1.64 | 1.12 | 0.94 | 1.01 | 1.47 | 1.06 | 0.78 | 0.80 | 1.31 | 1.00 |
| Operating Income | 0.13 | 0.12 | 0.58 | 0.31 | 0.06 | 0.08 | 0.55 | 0.31 | 0.07 | 0.07 | 0.52 | 0.18 | 0.05 | 0.04 | 0.42 | 0.22 | 0.05 | 0.05 | 0.43 | 0.28 |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 0.09 | 0.09 | 0.09 | 0.08 | 0.08 | 0.07 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 |
| Pretax Income* | 0.04 | 0.02 | 0.50 | 0.23 | (0.01) | -0.00 | 0.47 | 0.24 | 0.03 | 0.01 | 0.46 | 0.13 | 0.00 | (0.03) | 0.38 | 0.20 | 0.03 | 0.03 | 0.42 | 0.27 |
| Tax Provision | 0.00 | -0.00 | 0.08 | 0.04 | (0.01) | -0.00 | 0.07 | 0.03 | 0.00 | 0.00 | 0.06 | 0.02 | 0.00 | (0.01) | 0.05 | 0.03 | 0.00 | -0.00 | 0.07 | 0.05 |
| Net Income | 0.04 | 0.02 | 0.42 | 0.20 | -0.00 | -0.00 | 0.40 | 0.21 | 0.02 | 0.00 | 0.40 | 0.11 | 0.00 | (0.02) | 0.33 | 0.17 | 0.02 | 0.03 | 0.34 | 0.22 |
| Basic EPS | 0.27 | 0.13 | 3.45 | 1.61 | (0.04) | (0.06) | 3.47 | 1.79 | 0.15 | 0.00 | 3.51 | 0.94 | (0.03) | (0.21) | 2.88 | 1.45 | 0.15 | 0.24 | 3.01 | 1.91 |
| Diluted EPS | 0.27 | 0.12 | 3.39 | 1.58 | (0.04) | (0.04) | 3.37 | 1.76 | 0.15 | 0.00 | 3.50 | 0.94 | (0.03) | (0.22) | 2.88 | 1.45 | 0.15 | 0.24 | 3.00 | 1.91 |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Operating Cash Flow | 235.30 | 476.78 | 664.99 | 261.43 | 401.90 | 439.49 | 633.19 | 189.79 | 347.35 | 373.80 | 396.29 | 226.01 | 211.61 | 209.53 | 443.63 | 247.68 | 340.61 | 199.50 | 348.16 | 110.34 |
| Capital Expenditures | 628.36 | 669.52 | 623.03 | 709.52 | 622.55 | 531.62 | 665.85 | 533.97 | 517.76 | 531.84 | 396.33 | 473.02 | 445.17 | 430.63 | 433.64 | 451.64 | 391.58 | 467.04 | 325.28 | 317.37 |
| Free Cash Flow* | (393.06) | (192.74) | 41.96 | (448.08) | (220.66) | (92.13) | (32.65) | (344.18) | (170.40) | (158.04) | (0.05) | (247.02) | (233.57) | (221.10) | 9.99 | (203.96) | (50.97) | (267.54) | 22.88 | (207.03) |
| Investing Cash Flow | (551.55) | (545.56) | (579.78) | (667.22) | (586.11) | (464.31) | (582.21) | (463.02) | (424.09) | (458.34) | (352.13) | (430.53) | (453.24) | (396.15) | (427.64) | (419.91) | (374.34) | (424.62) | (312.74) | (301.50) |
| Financing Cash Flow | 316.06 | 44.50 | (73.16) | 414.58 | 190.43 | (20.52) | (5.82) | 267.61 | 81.42 | 74.39 | (36.70) | 205.23 | 243.75 | 184.42 | (38.14) | 187.45 | 37.73 | 209.40 | (23.88) | 188.11 |
* Derived from reported values
Dividends Per Share
(USD)| Metric | Q4
2025 | Q3
2025 | Q2
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q4
2021 | Q3
2021 | Q2
2021 | Q4
2020 | Q3
2020 | Q2
2020 | Q4
2019 | Q3
2019 |
|---|
| Dividends Per Share | 1.82 | 0.00 | 1.79 | 1.79 | 0.00 | 1.76 | 1.76 | 0.00 | 1.73 | 1.73 | 0.00 | 1.70 | 1.70 | 0.00 | 1.66 | 1.66 | 0.00 | 1.57 | 1.56 | 0.00 |
