TTM
27.5%
YoY change
+1.19pp
Trough year (2001)
14.9%
Peak year (1985)
100.0%
Latest annual
20.9%
Operating Margin history chart for Pinnacle West Capital (PNW) from 1985 to 2025
Latest: 20.9%
Operating Margin change chart for Pinnacle West Capital (PNW) from 1985 to 2025
Latest: +1.19pp
Operating Margin history table for Pinnacle West Capital (PNW) from 1985 to 2025
| 2025 | 20.9% | +1.19pp | ||
| 2024 | 19.7% | +2.19pp | ||
| 2023 | 17.6% | +0.64pp | ||
| 2022 | 16.9% | -4.25pp | ||
| 2021 | 21.2% | -0.80pp | ||
| 2020 | 22.0% | +2.61pp | ||
| 2019 | 19.4% | -1.60pp | ||
| 2018 | 21.0% | -4.56pp | ||
| 2017 | 25.5% | +1.63pp | ||
| 2016 | 23.9% | -0.57pp | ||
| 2015 | 24.4% | +1.22pp | ||
| 2014 | 23.2% | -1.26pp | ||
| 2013 | 24.5% | -1.30pp | ||
| 2012 | 25.8% | +2.77pp | ||
| 2011 | 23.0% | +1.13pp | ||
| 2010 | 21.9% | +3.22pp | ||
| 2009 | 18.7% | +3.68pp | ||
| 2008 | 15.0% | -2.57pp | ||
| 2007 | 17.6% | -0.62pp | ||
| 2006 | 18.2% | +0.95pp | ||
| 2005 | 17.2% | -0.62pp | ||
| 2004 | 17.9% | +1.07pp | ||
| 2003 | 16.8% | -4.09pp | ||
| 2002 | 20.9% | +6.03pp | ||
| 2001 | 14.9% | -3.46pp | ||
| 2000 | 18.3% | -5.56pp | ||
| 1999 | 23.9% | -2.74pp | ||
| 1998 | 26.6% | -1.33pp | ||
| 1997 | 28.0% | -1.97pp | ||
| 1996 | 29.9% | -3.77pp | ||
| 1995 | 33.7% | +2.01pp | ||
| 1994 | 31.7% | -68.32pp | ||
| 1993 | 100.0% | 0.00pp | ||
| 1992 | 100.0% | 0.00pp | ||
| 1991 | 100.0% | 0.00pp | ||
| 1990 | 100.0% | 0.00pp | ||
| 1989 | 100.0% | 0.00pp | ||
| 1988 | 100.0% | 0.00pp | ||
| 1987 | 100.0% | 0.00pp | ||
| 1986 | 100.0% | 0.00pp | ||
| 1985 | 100.0% | — |
- 202520.9%+1.19pp
- 202419.7%+2.19pp
- 202317.6%+0.64pp
- 202216.9%-4.25pp
- 202121.2%-0.80pp
- 202022.0%+2.61pp
- 201919.4%-1.60pp
- 201821.0%-4.56pp
- 201725.5%+1.63pp
- 201623.9%-0.57pp
- 201524.4%+1.22pp
- 201423.2%-1.26pp
- 201324.5%-1.30pp
- 201225.8%+2.77pp
- 201123.0%+1.13pp
- 201021.9%+3.22pp
- 200918.7%+3.68pp
- 200815.0%-2.57pp
- 200717.6%-0.62pp
- 200618.2%+0.95pp
- 200517.2%-0.62pp
- 200417.9%+1.07pp
- 200316.8%-4.09pp
- 200220.9%+6.03pp
- 200114.9%-3.46pp
- 200018.3%-5.56pp
- 199923.9%-2.74pp
- 199826.6%-1.33pp
- 199728.0%-1.97pp
- 199629.9%-3.77pp
- 199533.7%+2.01pp
- 199431.7%-68.32pp
- 1993100.0%0.00pp
- 1992100.0%0.00pp
- 1991100.0%0.00pp
- 1990100.0%0.00pp
- 1989100.0%0.00pp
- 1988100.0%0.00pp
- 1987100.0%0.00pp
- 1986100.0%0.00pp
- 1985100.0%—
Operating Margin values are taken from Pinnacle West Capital's reported income 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 Operating Margin at Pinnacle West Capital (PNW)
According to Pinnacle West Capital's latest reported financial statements, the company's latest reported operating margin is 27.5%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of Pinnacle West Capital (PNW) operating margin is 20.94% – expanded 1.2 percentage points year-over-year.
Across the available history, operating margin reached its high of 100.00% in 1985 and its low of 14.85% in 2001.
Pinnacle West Capital Operating Margin by Year
Pinnacle West Capital Operating Margin 2025: 20.9%
Pinnacle West Capital posted operating margin of 20.94% in 2025, expanded 1.2 percentage points from 2024.
Pinnacle West Capital Operating Margin 2024: 19.7%
In 2024, Pinnacle West Capital reported operating margin of 19.75%, expanded 2.2 percentage points from 2023.
Pinnacle West Capital Operating Margin 2023: 17.6%
Pinnacle West Capital operating margin in 2023 was 17.56%, expanded 0.6 percentage points from 2022.
Pinnacle West Capital Operating Margin 2022: 16.9%
2022's operating margin for Pinnacle West Capital came in at 16.93%, contracted 4.2 percentage points from 2021.
Pinnacle West Capital Operating Margin 2021: 21.2%
Pinnacle West Capital operating margin in 2021 was 21.17%.
See more financial history for Pinnacle West Capital (PNW).
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