Pinnacle West Capital (Pinnacle West Capital) EBIT

: $927 Mil (TTM As of Dec. 2023)

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Pinnacle West Capital's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $94 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $927 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Pinnacle West Capital's annualized ROC % for the quarter that ended in Dec. 2023 was 0.74%. Pinnacle West Capital's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 1.93%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Pinnacle West Capital's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.94%.

Pinnacle West Capital EBIT Historical Data

The historical data trend for Pinnacle West Capital's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Pinnacle West Capital Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

758.76

877.20

979.29

831.19

927.02

Pinnacle West Capital Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT																40.47	77.59	208.38	547.38	93.66

Competitive Comparison

For the Utilities - Regulated Electric subindustry, Pinnacle West Capital's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Pinnacle West Capital EV-to-EBIT Distribution

For the Utilities - Regulated industry and Utilities sector, Pinnacle West Capital's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Pinnacle West Capital's EV-to-EBIT falls into.

Pinnacle West Capital EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $927 Mil.

Pinnacle West Capital (NYSE:PNW) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Pinnacle West Capital's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	297.52 * ( 1 - 39.42% )	/	( (23672.692	+	24841.516)	/ 2 )
=	180.237616	/	24257.104
=	0.74 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	24434.426	-	746.626	-	( 15.108	-	max(0, 1968.342	-	2161.938	+	15.108	))
=	23672.692

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	24661.153	-	782.017	-	( 4.955	-	max(0, 2889.347	-	1926.967	+	4.955	))
=	24841.516

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Pinnacle West Capital's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	374.656	/	( ( (18664.934 + max(736.716, 0))	+	(19023.022 + max(439.596, 0)) )	/	2 )
=	374.656	/	( ( 19401.65	+	19462.618 )	/	2 )
=	374.656	/	19432.134
=	1.93 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(664.936	+	493.829	+	781.715)	-	(746.626	+	40.557	+	416.581)
=	736.716

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(513.892	+	493.547	+	769.121)	-	(782.017	+	42.037	+	512.91)
=	439.596

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Pinnacle West Capital's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	927.016	/	18746.902
	=	4.94 %

Pinnacle West Capital EBIT Related Terms

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Pinnacle West Capital (Pinnacle West Capital) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Pinnacle West Capital Corp (NYSE:PNW) » Definitions » EBIT

Comparable Companies

OGE IDA EVRG POR LNT PNM AGR MGEE HE GNE NEE SO DUK LSE:NG. AEP PCG D BOM:532555 EXC PEG

Traded in Other Exchanges

PWC:Germany

Address

400 North Fifth Street, P.O. Box 53999, Phoenix, AZ, USA, 85072-3999

Website

https://www.pinnaclewest.com

Pinnacle West is a holding company whose principal subsidiary is Arizona Public Service, a vertically integrated electric utility that serves 1.4 million customers across a 35,000-square-mile territory in central Arizona, including Phoenix. APS owns or leases more than 6 gigawatts of power generation capacity, including a 29% ownership stake in the largest nuclear plant in the U.S., Palo Verde. About half of the electricity that APS supplies to customers comes from clean energy sources, including nuclear.

Executives

Robert Edgar Smith	officer: EVP, GC, and CDO	400 NORTH FIFTH STREET, MAIL STATION 8602, PHOENIX AZ 85004
Paul J Mountain	officer: VP, Finance and Treasurer	400 N 5TH ST, PHOENIX AZ 85004
Jeffrey B. Guldner	director, officer: Chairman, President and CEO	400 N. FIFTH STREET, MS8695, PHOENIX AZ 85004
Donna M Easterly	other: SVP HR APS	400 NORTH FIFTH STREET, MAIL STATION 8602, PHOENIX AZ 85004
Elizabeth A Blankenship	officer: VP, Controller and CAO	400 NORTH FIFTH STREET, MAIL STATION 8602, PHOENIX AZ 85004
Andrew D Cooper	officer: SVP & CFO	400 NORTH 5TH STREET, MS 8602, PHOENIX AZ 85004
Jacob Tetlow	other: EVP, Ops, APS	400 N. FIFTH ST, MS 8602, PHOENIX AZ 85004
Theodore N Geisler	other: President, APS	400 NORTH FIFTH STREET, MAIL STATION 8602, PHOENIX AZ 85004
Kristine L Svinicki	director	30 IVAN ALLEN JR BLVD NW, ATLANTA GA 30308
Esparza Jose Luis Jr	other: SVP, Public Policy, APS	8360 S. DURANGO DR., LAS VEGAS NV 89113
Barbara D Lockwood	other: VP, Regulation, APS	400 NORTH FIFTH STREET, MAIL STATION 8602, PHOENIX AZ 85004
Adam C Heflin	other: EVP & CNO	1901 CHOUTEAU AVENUE, P. O. BOX 66149, MC-1370, ST. LOUIS MO 63166-6149
De La Melena Gonzalo A Jr	director	400 N 5TH ST, PHOENIX AZ 85004
James R Hatfield	officer: SVP & CFO, PNW & APS	P O BOX 321 MC/1110, OKLAHOMA CITY OK 73101
William H Spence	director	UNIVERSITY OFFICE PLAZA, 252 CHAPMAN RD., PO BOX 6066, NEWARK DE 19714-0066