Question 1

What is Pinnacle West Capital's P/FCF ratio?

Accepted Answer

Pinnacle West Capital (PNW) P/FCF ratio is currently not available. When trailing twelve-month free cash flow is negative — common during heavy capex cycles or operating losses — P/FCF is reported as N/A and analysts switch to P/S or EV/EBITDA.

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Pinnacle West Capital?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Pinnacle West Capital specifically, the relevant sector benchmark is the current sector median of 45.4×.

Question 5

What is Pinnacle West Capital's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Pinnacle West Capital (PNW) P/FCF ratio has ranged from a low of 5.6× in 2005 to a high of 2164.1× in 2010.

Question 6

What was Pinnacle West Capital's P/FCF ratio in 2018?

Accepted Answer

Pinnacle West Capital (PNW) P/FCF ratio at the end of 2018 was 96.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 7

Why does Pinnacle West Capital's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.

Question 8

Why is Pinnacle West Capital's P/FCF ratio not available?

Accepted Answer

When trailing twelve-month free cash flow is negative — common during heavy capex cycles or operating losses — P/FCF is reported as N/A and analysts switch to P/S or EV/EBITDA.


2025	$10.6B	-$820M	—	—	Dec 31, 2025
2024	$9.69B	-$639M	—	—	Dec 31, 2024
2023	$8.16B	-$639M	—	—	Dec 31, 2023
2022	$8.62B	-$466M	—	—	Dec 31, 2022
2021	$7.98B	-$613M	—	—	Dec 31, 2021
2020	$9.01B	-$360M	—	—	Dec 31, 2020
2019	$10.1B	-$235M	—	—	Dec 31, 2019
2018	$9.56B	$99M	96.6×	—	Dec 31, 2018
2017	$9.54B	-$291M	—	—	Dec 31, 2017
2016	$8.7B	-$252M	—	—	Dec 31, 2016
2015	$7.17B	$18.2M	392.9×	+352.9×	Dec 31, 2015
2014	$7.57B	$189M	40.0×	-2.5×	Dec 31, 2014
2013	$5.83B	$137M	42.5×	+22.7×	Dec 31, 2013
2012	$5.59B	$282M	19.9×	-1.9×	Dec 31, 2012
2011	$5.26B	$241M	21.8×	-2142.3×	Dec 31, 2011
2010	$4.51B	$2.08M	2164.1×	+2150.2×	Dec 31, 2010
2009	$3.71B	$266M	13.9×	—	Dec 31, 2009
2008	$3.24B	-$122M	—	—	Dec 31, 2008
2007	$4.26B	-$261M	—	—	Dec 31, 2007
2006	$5.06B	-$344M	—	—	Dec 31, 2006
2005	$4.07B	$730M	5.6×	-7.8×	Dec 31, 2005
2004	$4.07B	$304M	13.4×	-4.1×	Dec 31, 2004
2003	$3.65B	$208M	17.5×	—	Dec 31, 2003
2002	$3.11B	-$24.7M	—	—	Dec 31, 2002


Eversource Energy (ES)	110.1×
Constellation Energy (CEG)	86.9×
NextEra Energy (NEE)	82.1×
American States Water (AWR)	77.8×
Middlesex Water (MSEX)	63.1×
Vistra (VST)	45.4×
UGI (UGI)	32.9×
FirstEnergy (FE)	16.3×
Duke Energy (DUK)	15.4×
Consolidated Edison (ED)	14.6×
American Electric Power Company (AEP)	9.3×

P/FCF Ratio for Pinnacle West Capital (PNW) 2003-2026

P/FCF Ratio daily chart for Pinnacle West Capital (PNW)

Historical P/FCF Ratio for Pinnacle West Capital (PNW) from 2002 to 2025

About P/FCF Ratio at Pinnacle West Capital (PNW)

Pinnacle West Capital P/FCF Ratio by Year

Pinnacle West Capital P/FCF Ratio 2018: 96.6×

Pinnacle West Capital P/FCF Ratio 2015: 392.9×

Pinnacle West Capital P/FCF Ratio 2014: 40.0×

Pinnacle West Capital P/FCF Ratio 2013: 42.5×

Pinnacle West Capital P/FCF Ratio 2012: 19.9×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Pinnacle West Capital (PNW) Key Financials