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Pinnacle West Capital cash flow statement

In fiscal 2025, Pinnacle West Capital's operations generated $1.81bn of cash; it spent $2.62bn on capital projects, leaving free cash flow of −$820m. It returned $423m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations1,0677501,1261,1711,1531,1001,0941,0231,1181,2779579668601,2411,2081,6101,8051,829
Depreciation and amortisation4514734944814924965725656116516646867198188549569701,015
Stock-based pay51523322533191921201818181617242727
Capital spending7657488848901,0169111,0761,2751,4091,1781,1911,3271,4731,7071,8462,2492,6252,761
Free cash flow303224128213718918−252−29199−235−360−613−466−639−639−820−932
Free cash flow after stock pay298−13218250112156−1−271−31179−253−379−632−482−656−663−847−959
Dividends paid205217222225235247260274290309330351369379386395423436
Share buybacks—————————————34———
Shares issued32561616171519−5−13−51−1−2−3−4341——

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Pinnacle West Capital's SEC filings (10-K and 10-Q), retrieved November 3, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Pinnacle West Capital.