PNW
Pinnacle West Capital CorporationEvidence as of 2026-09-02Overview · Pinnacle West Capital Corporation
Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facili…
Management team
- Mr. Jeffrey B. Guldner · Non-Executive AdvisorFind on LinkedIn
- Mr. Andrew D. Cooper · Senior VP & CFOFind on LinkedIn
- Mr. Theodore N. Geisler · Chairman of the Board, President and CEOFind on LinkedIn
- Mr. Christopher Bauer · VP & TreasurerFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
+0.2 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The evidence balance is Mixed ( +0.2 of a possible +2; confidence high) and the surviving claims establish a company with rising headline revenue, seasonal operating patterns, and modest leverage changes. Reported quarterly revenues rose from $ 951,712,000 in fiscal Q1 2024 (3 months ended 2024-04-25) to $ 1,455,749,000 in fiscal Q2 2026 (3 months ended 2026-07-28), with intermediate points such as $ 1,308,994,000 (fiscal Q2 2024), $ 1,768,801,000 (fiscal Q3 2024), $ 1,032,280,000 (fiscal Q1 2026) and $ 1,820,741,000 (fiscal Q3 2025). Operating income shows a clear seasonal pattern—higher in fiscal Q3 periods (for example, $ 546,986,000 in fiscal Q3 2024 and $ 581,846,000 in fiscal Q3 2025) and lower in many fiscal Q1 periods (for example, $ 66,792,000 in fiscal Q1 2024 and fiscal Q1 2025); operating income in fiscal Q2 2026 was $ 305,672,000, producing an operating margin of about 21.01% on revenue of $ 1,455,749,000 (contrast fiscal Q1 2026 margin ≈ 11.41% and fiscal Q3 2025 margin ≈ 31.96%).
On the balance sheet and market side, shares outstanding increased from 113,558,885 as of 2024-04-25 to 121,197,234 as of 2026-07-28, long‑term noncurrent debt rose from $ 8,058,648,000 as of 2024-12-31 to $ 9,775,808,000 as of 2026-06-30, and cash has shown point‑in‑time volatility (for example, $ 3,838,000 as of 2024-12-31, $ 30,885,000 as of 2025-09-30, $ 9,124,000 as of 2026-06-30). The 10‑Q filed 2026-08-04 reports consolidated assets of approximately $ 33 billion, that APS supplies about 1.5 million retail customers in 11 Arizona counties, ownership positions in Palo Verde units, planned conversions at Cholla, a gas transportation precedent agreement, and potential grant funding up to $ 70 million from DOE subject to final agreements. Market signals are mixed: trailing dividend yield is +3.73% (86th percentile), short momentum is negative while a 12_1 momentum measure is +15.6% (mid‑rank), price sits slightly below the 50‑day SMA and essentially at the 200‑day SMA with a golden cross, volatility is low‑to‑moderate in absolute terms but high versus the stock’s history, beta to SPY is -0.15, and institutional 13F holdings were reported at $ 12.41B as of 2026-03-31. Valuation inputs show price $ 97.66, market cap $ 11,836,121,872, trailing EPS 6.67 (trailing P/E 14.64), EV $ 15,163,997,872 and TTM operating income $ 1,326,244,000, but FCF (TTM), capex and EBITDA (TTM) are missing so implied FCF growth and some multiples cannot be calculated from the packet.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Reported quarterly revenues rose from $951,712,000 in fiscal Q1 2024 (3 months ended 31 March 2024) to $1,455,749,000 in fiscal Q2 2026 (3 months ended 30 June 2026); intervening quarterly revenue points in the series include $1,308,994,000 (fiscal Q2 2024), $1,768,801,000 (fiscal Q3 2024), $951,712,000 (fiscal Q1 2025), $1,358,751,000 (fiscal Q2 2025), $1,820,741,000 (fiscal Q3 2025) and $1,032,280,000 (fiscal Q1 2026).
XBRL companyfacts · 0000764622-26-000041Operating income shows a seasonal pattern with higher results in fiscal Q3 periods (e.g., $546,986,000 operating income in fiscal Q3 2024 and $581,846,000 in fiscal Q3 2025) and lower results in many fiscal Q1 periods (e.g., $66,792,000 in fiscal Q1 2024 and $66,792,000 in fiscal Q1 2025); in fiscal Q2 2026 operating income was $305,672,000.
XBRL companyfacts · 0000764622-26-000041Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
As of the 10-Q filed 4 August 2026, Pinnacle West reports consolidated assets of approximately $33 billion and that it derives essentially all of its revenues and earnings from its principal subsidiary, APS.
10-Q filed 2026-08-04The 10-Q filed 4 August 2026 states APS provides electricity to approximately 1.5 million retail customers in 11 of Arizona's 15 counties.
10-Q filed 2026-08-04Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
As of 2026-09-01, the trailing twelve‑month dividend yield is +3.73% and ranks in the 86th percentile of the 547‑member research universe.
Moneyta signal set · 2026-09-01Momentum is negative over shorter horizons (momentum_3m = -1.2%, momentum_6m = -3.4%) but momentum_12_1 = +15.6% and its cross‑sectional rank for the 12_1 measure is the 53th percentile of 547 as of 2026-09-01.
Moneyta signal set · 2026-09-01weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
13F-reported institutional holdings totaled "$12.41B" as of the quarter ended 2026-03-31 (13F filings carry a 45-day reporting lag).
13F holdings · 700 filers · as of 2026-03-31The top reported institutional holders in the 2026-03-31 13F included Capital Research Global Investors at "$1.66B", BlackRock, Inc. at "$1.19B", and VANGUARD CAPITAL MANAGEMENT LLC at "$786.0M".
13F holdings · 700 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Multiple outlets report Pinnacle West reiterated full-year 2026 EPS guidance of $4.55 to $4.75 in its Q2 2026 update.
News · simplywall.st · 2026-08-29Coverage links Pinnacle West to Arizona's growth—several headlines frame PNW as a way to gain exposure to Arizona's population and economic expansion.
News · finance.yahoo.com · 2026-08-28Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Jacob Tetlow reported a sale of "6526" shares for "$646k" on 2026-05-13; the filing does not indicate a 10b5-1/trading plan (trading_plan: null).
Form 4 · Tetlow Jacob (insider) · $646k sold · 2026-05-13The chairman/CEO Theodore N. Geisler reported a sale of "2897" shares for "$292k" on 2026-03-18; the filing does not indicate a 10b5-1/trading plan (trading_plan: null).
Form 4 · Geisler Theodore N (Chairman, CEO and President) · $0 code A · 2026-03-18Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The reported price used is 97.66 with a price date of 2026-09-01 and a market capitalization of 11,836,121,872.
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve‑month EPS is 6.67, producing a trailing P/E of 14.64.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
Several pieces of the provided evidence together support a favorable read: revenues show a multi-quarter increase from $951.7M in Q1 2024 to $1,455.7M in Q2 2026 and operating margins in some quarters (e.g., Q2 2026 at ~21.0%, Q3 2025 at ~32.0%) indicate periods of strong operational profitability; the company’s scale and core utility franchise are documented (about $33B consolidated assets and APS serving ~1.5M retail customers), and strategic generation and fuel-transport actions (Palo Verde ownership, planned Cholla conversions, and a gas-transport precedent agreement) show management activity to shape future supply mix. Market and ownership signals are supportive: a relatively high dividend yield (3.73%, 86th percentile) and sizable institutional holdings (13F reported $12.41B) imply investor interest, while price sits near the 200-day average with a golden cross. These items jointly form a bull case grounded in revenue expansion, episodic margin strength, operational scale, and institutional credibility.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.32
38 surviving claims rest on 18 distinct sources; the heaviest analyst carries 18% of them, and 99% of what the desk raised survived the debate.
The evidence set is moderately robust: 38 surviving claims draw on a relatively small set of 18 distinct sources, so multiple claims depend on the same documents and outlets. Because the heaviest analyst contributes under one‑fifth of claims and nearly all desk items survived debate, the read is stable in its current form but still sensitive to a few key filings and market metrics.
Peer context · computed, not argued
12-1 momentum ranks 4th of 10 in Utilities—Regulated Electric (as of 2026-09-01).
90-day volatility ranks 7th of 10 in Utilities—Regulated Electric (as of 2026-09-01).
dividend yield ranks 3rd of 10 in Utilities—Regulated Electric (as of 2026-09-01).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
22 filings· 1 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer−0.2 to the score
9 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+1.0 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.4 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.5 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
12 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state — stated and inferred flags kept apart.
Read by Talbot−0.8 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on PNW Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.