Latest period
$2.63B
YoY change
+16.7%
5Y CAGR
+14.6%
Peak year (2025)
$2.62B
Cumulative CapEx
$31.72B
CapEx history chart for Pinnacle West Capital (PNW) from 1994 to 2025
Latest: $2.62B
CapEx growth chart for Pinnacle West Capital (PNW) from 1994 to 2025
Latest: +16.7%
CapEx history table for Pinnacle West Capital (PNW) from 1994 to 2025
| 2025 | $2.62B | +16.7% | +$375.42M | ||
| 2024 | $2.25B | +21.8% | +$402.82M | ||
| 2023 | $1.85B | +8.1% | +$138.88M | ||
| 2022 | $1.71B | +15.9% | +$234.01M | ||
| 2021 | $1.47B | +11.1% | +$146.89M | ||
| 2020 | $1.33B | +11.3% | +$135.14M | ||
| 2019 | $1.19B | +1.1% | +$13.28M | ||
| 2018 | $1.18B | -16.4% | −$230.60M | ||
| 2017 | $1.41B | +10.5% | +$133.30M | ||
| 2016 | $1.28B | +18.5% | +$199.38M | ||
| 2015 | $1.08B | +18.2% | +$165.45M | ||
| 2014 | $910.63M | -10.4% | −$105.69M | ||
| 2013 | $1.02B | +14.3% | +$126.77M | ||
| 2012 | $889.55M | +0.6% | +$5.20M | ||
| 2011 | $884.35M | +18.2% | +$135.98M | ||
| 2010 | $748.37M | -2.1% | −$16.23M | ||
| 2009 | $764.61M | -18.3% | −$170.97M | ||
| 2008 | $935.58M | +1.9% | +$17.00M | ||
| 2007 | $918.58M | +24.5% | +$180.80M | ||
| 2006 | $737.78M | +16.5% | +$104.25M | ||
| 2005 | $633.53M | +17.7% | +$95.30M | ||
| 2004 | $538.23M | -22.4% | −$155.24M | ||
| 2003 | $693.48M | -22.6% | −$202.05M | ||
| 2002 | $895.52M | -13.9% | −$145.06M | ||
| 2001 | $1.04B | +58.0% | +$381.98M | ||
| 2000 | $658.61M | +91.8% | +$315.21M | ||
| 1999 | $343.40M | +7.6% | +$24.30M | ||
| 1998 | $319.10M | — | +$319.10M | ||
| 1997 | $0.00 | -100.0% | −$258.60M | ||
| 1996 | $258.60M | -12.6% | −$37.20M | ||
| 1995 | $295.80M | +15.9% | +$40.50M | ||
| 1994 | $255.30M | — | — |
- 2025$2.62B+16.7%
- 2024$2.25B+21.8%
- 2023$1.85B+8.1%
- 2022$1.71B+15.9%
- 2021$1.47B+11.1%
- 2020$1.33B+11.3%
- 2019$1.19B+1.1%
- 2018$1.18B-16.4%
- 2017$1.41B+10.5%
- 2016$1.28B+18.5%
- 2015$1.08B+18.2%
- 2014$910.63M-10.4%
- 2013$1.02B+14.3%
- 2012$889.55M+0.6%
- 2011$884.35M+18.2%
- 2010$748.37M-2.1%
- 2009$764.61M-18.3%
- 2008$935.58M+1.9%
- 2007$918.58M+24.5%
- 2006$737.78M+16.5%
- 2005$633.53M+17.7%
- 2004$538.23M-22.4%
- 2003$693.48M-22.6%
- 2002$895.52M-13.9%
- 2001$1.04B+58.0%
- 2000$658.61M+91.8%
- 1999$343.40M+7.6%
- 1998$319.10M—
- 1997$0.00-100.0%
- 1996$258.60M-12.6%
- 1995$295.80M+15.9%
- 1994$255.30M—
CapEx values are taken from Pinnacle West Capital's reported cash flow statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About CapEx at Pinnacle West Capital (PNW)
According to Pinnacle West Capital's latest reported financial statements, the company's current CapEx (TTM) is $2.63B. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
2025's annual CapEx for Pinnacle West Capital (PNW) came in at $2.62B – grew 16.7% year-over-year.
Through 2020–2025 (5 years), Pinnacle West Capital CapEx delivered a +14.6% annualised rate; sustaining 7 straight years of year-over-year growth.
$2.62B stands as the all-time-high annual CapEx, posted in 2025, against a low of $0.00 during 1997.
Pinnacle West Capital Capital Expenditures by Year
Pinnacle West Capital Capital Expenditures 2025: $2.62B
2025's CapEx for Pinnacle West Capital came in at $2.62B, grew 16.7% from 2024. This figure represents the highest annual value in the available history.
Pinnacle West Capital Capital Expenditures 2024: $2.25B
Pinnacle West Capital posted CapEx of $2.25B in 2024, grew 21.8% from 2023.
Pinnacle West Capital Capital Expenditures 2023: $1.85B
In 2023, Pinnacle West Capital reported CapEx of $1.85B, grew 8.1% from 2022.
Pinnacle West Capital Capital Expenditures 2022: $1.71B
Pinnacle West Capital CapEx in 2022 was $1.71B, grew 15.9% from 2021.
Pinnacle West Capital Capital Expenditures 2021: $1.47B
Pinnacle West Capital CapEx in 2021 was $1.47B.
See more financial history for Pinnacle West Capital (PNW).
Sector peers by CapEx
Utilities peers of Pinnacle West Capital (PNW), ranked by their latest CapEx
| $14.02B | |
| $13.39B | |
| $12.64B | |
| $10.61B | |
| $9.27B | |
| $2.95B | |
| $1.28B | |
| $130.00M |
- $14.02B
- $13.39B
- $12.64B
- $10.61B
- $9.27B
- $1.28B
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