The Pinnacle West Capital reports a gross margin of 37.5%, an operating margin of 20.5%, an EBITDA margin of 39.8%, and a net margin of 11.5%. Operating margin led the improvement across the available margins, expanding by 1.5 percentage points.
PNW margin history
Over the last 3 years, Pinnacle West Capital's margins averaged 36.76% gross, 19.47% operating, 39.48% EBITDA, and 11.56% net. For Pinnacle West Capital, gross, operating, and EBITDA margins are above their three-year averages, while net margin is below its three-year average.
PNW margin expansion
Gross margin expanded by 0.9 percentage points, operating margin by 1.5 percentage points, EBITDA margin by 0.8 percentage points, and net margin by 0.5 percentage points, led by operating margin with an increase of 1.5 percentage points.
PNW Gross margin
Over the last 3 years, Pinnacle West Capital recorded an average gross margin of 36.76%. Pinnacle West Capital's current gross margin is 37.5% and is 0.7 percentage points above its three-year average. The highest gross margin for Pinnacle West Capital was 37.9% in Mar 2026, while the lowest was 34.5% in Dec 2023.
PNW Operating margin
Looking at the last 3 years, Pinnacle West Capital had an average operating margin of 19.47%. Compared with its three-year average, Pinnacle West Capital's current operating margin is 20.5% and is 1 percentage points above its three-year average. Looking back over the last 3 years, Pinnacle West Capital's operating margin reached 20.9% at its highest point in Mar 2026 and 17.6% at its lowest in Dec 2023.
PNW EBITDA margin
Across the last 3 years, Pinnacle West Capital's EBITDA margin came to 39.48%. The current EBITDA margin stands at 39.8%, 0.3 percentage points above its three-year average. EBITDA margin was highest at 40.4% in Sep 2024 and lowest at 37.6% in Dec 2023.
PNW Net margin
In the last 3 years, Pinnacle West Capital had an average net margin of 11.56%. The latest net margin for Pinnacle West Capital is 11.5%, 0.1 percentage points below its three-year average. Looking back over the last 3 years, Pinnacle West Capital's net margin reached 12.7% at its highest point in Jun 2024 and 10.7% at its lowest in Dec 2023.
PNW margin group comparison
Pinnacle West Capital's gross margin of 37.5% is below the Utilities sector, the industry and its peers average. Looking at its Utilities sector average of 42.8%, Pinnacle West Capital's gross margin is 12% lower.
PNW margin peer comparison
Frequently asked questions
What is Pinnacle West Capital's gross margin?
The current gross margin for PNW is 37.5% as of Jun 30, 2026.
What is Pinnacle West Capital's operating margin?
As of Jun 30, 2026, PNW has an operating margin of 20.5%.
What is Pinnacle West Capital's EBITDA margin?
For the period ending Jun 30, 2026, PNW recorded an EBITDA margin of 39.8%.
What is Pinnacle West Capital's net margin?
As of Jun 30, 2026, PNW has a net margin of 11.5%.
What are the average margins of PNW?
Pinnacle West Capital's gross, operating, EBITDA, and net margins averaged 36.8% gross, 19.5% operating, 39.5% EBITDA, and 11.6% net over the last 3 years.
What are the highest historical margins of PNW?
Within the 5-year period, PNW recorded its highest margins at 38.5% gross in Dec 2021, 21.2% operating in Dec 2021, 44.2% EBITDA in Dec 2021, and 16.3% net in Dec 2021.
What are the lowest historical margins of PNW?
Pinnacle West Capital's lowest recorded margins during the past 5 years were 32.1% gross in Jun 2023, 15.1% operating in Jun 2023, 34.9% EBITDA in Jun 2023, and 8.9% net in Jun 2023.