PNW at a glance
Pinnacle West Capital (PNW, SEC CIK 764622) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on September 30, 2026 and Form 4 insider filings as recently as August 11, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Pinnacle West Capital (PNW) reported revenue of $5.3 billion (up 4.2% from FY2024) and net income of $616.5 million. Diluted EPS was $5.05.
- As of June 30, 2026, 41 institutional investment managers tracked by SignalX reported holding Pinnacle West Capital (PNW) shares worth $5.7 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Blankenship Elizabeth A on August 10, 2026 of 980 shares at $99.17 per share.
- In the last 90 days, PNW insiders reported 0 open-market purchases ($0) and 2 open-market sales ($281K) on Form 4, a net sale of $281K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $5.3B
- +4.2% vs prior year
- Insiders · 90 days
- 0 buys · 2 sells
- Net −$281K
- 13F holders
- 41 funds
- $5.7B · +2 vs prior quarter
- Latest 8-K
- Sep 30, 2026
- Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Management Discussion & Analysis
- Revenue $5,340M in 2025 vs $5,125M in 2024, up $215M YoY; retail revenues 95% of total
- Net income $617M vs $609M, up $8M; operating margin data not explicitly stated in text
- Operating cash flow $1,805M vs $1,610M (+$195M); capex $2,378M investing outflows, rising ~$444M YoY
- Dividends $423M paid in 2025 at $3.60/share; no share buybacks; equity infusions to APS of $375M total
- 2025 Rate Case seeks $579.5M net base rate increase (~13.99%); capex guided $2,600M–$2,700M annually 2026–2028; tariff and wildfire risks flagged
Risk Factors
- ACC/FERC dual regulatory exposure: ACC can reopen and modify final orders; FERC penalties up to ~$1.2M per day per violation under Energy Policy Act of 2005
- Trump administration tariffs and 2025 U.S. Supreme Court ruling on IEEPA tariff validity creating cost uncertainty; supply chain delays compounding equipment procurement risks
- Palo Verde nuclear plant = ~18% of APS's owned/leased generation capacity; potential retrospective insurance premium of ~$24.2M and federal liability exposure up to $144.9M per nuclear incident
- AI/data center load growth highly uncertain; slower-than-projected ramp-up risk where 1% variation in residential/small commercial kWh sales shifts net income ~$25M annually
- Holding company structural subordination: Pinnacle West debt junior to all APS subsidiary obligations; APS must maintain minimum 40% common equity ratio per ACC financing order before paying dividends upstream
Business Overview
- Arizona regulated electric utility holding company; ~$30B assets; APS serves ~1.4M customers across 11 of 15 Arizona counties
- Cholla coal plant ceased operations March 2025, formally retired April 30, 2025; 2025 Rate Case filed seeking recovery of ongoing Cholla environmental remediation costs
- APS committed to SPP Markets+ day-ahead market participation (FERC-approved Jan 2025), expected live October 2027; major western market expansion vs prior WEIM-only posture
- 2025 peak demand hit 8,648 MW (Aug 7), up from 8,210 MW in 2024; plans to add up to 2,000 MW of new flexible natural gas generation
- EPA finalized repeal of 2009 GHG "Endangerment Finding" Feb 18, 2026: directly undercuts regulatory foundation for carbon emission rules affecting APS's gas fleet buildout plans
AI summary of the PNW 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Risk Factors
- EPA’s March 23, 2026 Phoenix-Mesa ozone action preserved moderate nonattainment permitting, avoiding stricter serious-area NOx limits
- Environmental groups challenged EPA’s ozone determination in the Ninth Circuit on May 22, 2026
- APS’s fossil generation remains exposed to emissions-control pressure because most natural-gas units operate in Maricopa County
- Litigation outcome remains unpredictable, creating permitting and compliance uncertainty for APS projects in Maricopa County
AI summary of the PNW 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- October 2026 analyst and investor meetings signal active investor-relations outreach
- Exhibit 99.1 handouts may contain updated strategy, operating outlook, or financial guidance
Item 7.01: Regulation FD Disclosure
- September 2026 analyst and investor meetings, supported by Exhibit 99.1 handouts
- Reg FD disclosure provides investors equal access to presentation materials used in those meetings
Item 7.01: Regulation FD Disclosure
- August 2026 analyst and investor meetings signal upcoming investor-relations engagement
- Exhibit 99.1 handouts contain Pinnacle West’s discussion materials and potentially market-relevant disclosures
AI summaries of PNW 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for PNW
Don't miss the next PNW filing
- Alerts as it files. A push when PNW files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut PNW, by share count.
- Ask anything. An AI agent that reads every PNW filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Blankenship Elizabeth A | Sell | Aug 10, 2026 | 980 | $99.17 |
| Esparza Jose Luis Jr | Sell | Aug 7, 2026 | 1,800 | $102.01 |
| TREVATHAN JAMES E JR | A | May 14, 2026 | 1,665 | - |
| Tetlow Jacob | Sell | May 13, 2026 | 41 | $99.01 |
| Tetlow Jacob | Sell | May 13, 2026 | 6,526 | $99.00 |
| Baum Shirley A | A | Mar 18, 2026 | 2,781 | - |
| Esparza Jose Luis Jr | F | Mar 18, 2026 | 1,402 | $100.92 |
| Heflin Adam C | F | Mar 18, 2026 | 8,364 | $100.92 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $4.7B | $5.1B | $5.3B |
| Operating Income | $824.6M | $1.0B | $1.1B |
| Net Income | $501.6M | $608.8M | $616.5M |
| Op. Margin | 17.6% | 19.7% | 20.0% |
| Net Margin | 10.7% | 11.9% | 11.5% |
| Balance Sheet | |||
| Total Assets | - | $26.1B | $30.0B |
| Equity | $6.2B | $6.8B | $7.0B |
| ROE | 8.1% | 9.0% | 8.7% |
| Per Share | |||
| EPS | $4.41 | $5.24 | $5.05 |
| Cash Flow | |||
| Operating CF | $1.2B | $1.6B | $1.8B |
Source: XBRL data in Pinnacle West Capital (PNW)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate PNW share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 41 | $5.72B |
| Q1 2026 | 39 | $5.25B |
| Q4 2025 | 35 | $4.39B |
| Q3 2025 | 36 | $4.42B |
| Q2 2025 | 36 | $4.38B |
| Q1 2025 | 32 | $3.47B |
| Q4 2024 | 29 | $2.87B |
| Q3 2024 | 27 | $1.66B |
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Source: 13F-HR filings on SEC EDGAR (aggregated from 275 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
PNW filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Sep 30, 2026 | - | Analysis | - |
| 8-K | Sep 4, 2026 | - | Analysis | - |
| SC 13G | Aug 12, 2026 | - | - | |
| 4 | Aug 11, 2026 | - | - | - |
| 4 | Aug 11, 2026 | - | - | - |
| 8-K | Aug 7, 2026 | - | Analysis | - |
| 8-K | Aug 4, 2026 | - | Analysis | - |
| 10-Q | Aug 4, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 4, 2026 | - | Analysis | - |
| 8-K | Jun 29, 2026 | - | Analysis | - |
| 8-K | Jun 8, 2026 | - | Analysis | |
| 8-K | Jun 5, 2026 | - | Analysis | |
| 8-K | Jun 5, 2026 | - | - | |
| 8-K | May 19, 2026 | - | Analysis | |
| 4 | May 18, 2026 | - | - | |
| 4 | May 14, 2026 | - | - | |
| SC 13G | May 13, 2026 | - | - | |
| 8-K | May 6, 2026 | - | Analysis | |
| 8-K | May 4, 2026 | - | Analysis | - |
| 10-Q | May 4, 2026 | Mar 31, 2026 | Analysis | |
| SC 13G | Apr 30, 2026 | - | - | |
| 8-K | Apr 15, 2026 | - | Analysis | - |
| 4 | Mar 20, 2026 | - | - | - |
| 4 | Mar 20, 2026 | - | - | - |
| 4 | Mar 20, 2026 | - | - | - |
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PNW SEC filings: frequently asked questions
Are PNW insiders buying or selling?
In the last 90 days, Pinnacle West Capital (PNW) officers, directors and 10% owners reported no open-market purchases and 2 open-market sales worth $280,800 by 2 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold PNW stock?
As of June 30, 2026, the largest Pinnacle West Capital (PNW) holders among the 13F filers tracked by SignalX were BlackRock ($1.3 billion), Vanguard Capital Management LLC ($845.0 million), State Street Corp ($750.8 million), Vanguard Portfolio Management LLC ($640.6 million), Invesco Ltd ($446.6 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was PNW's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Pinnacle West Capital (PNW) reported revenue of $5.3 billion (up 4.2% from FY2024) and net income of $616.5 million. Diluted EPS was $5.05. The figures come from the XBRL data in the 10-K.
What are the main risks in PNW's latest 10-K?
In the 10-K filed February 25, 2026, Pinnacle West Capital (PNW) flagged: ACC/FERC dual regulatory exposure: ACC can reopen and modify final orders; FERC penalties up to ~$1.2M per day per violation under Energy Policy Act of 2005. Trump administration tariffs and 2025 U.S. Supreme Court ruling on IEEPA tariff validity creating cost uncertainty; supply chain delays compounding equipment procurement risks. (AI summary of the Risk Factors section.)
What did PNW report in its latest 8-K?
Pinnacle West Capital (PNW) filed an 8-K on September 30, 2026 reporting Item 7.01 (Regulation FD Disclosure). October 2026 analyst and investor meetings signal active investor-relations outreach.
What are the latest PNW SEC filings?
Pinnacle West Capital (PNW) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on September 30, 2026 and a Form 4 insider filing on August 11, 2026.
What is PNW's SEC CIK number?
Pinnacle West Capital (PNW)'s SEC Central Index Key (CIK) is 764622. EDGAR lists every PNW filing under that number.
Ask anything about PNW
The research agent reads PNW's filings, financials, insider trades and 13F holders, then answers with sources.