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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
—
Company details
Market cap
~$12.6B
Dividend yield
~3.5%
EPS guide (2026)
$4.55–4.75
Revenue (TTM)
~$5.3B
Customers
~1.4M
Capex plan
~$10.4B
Rev. growth
+3%
Allowed ROE (req.)
~10.7%
In plain English
Pinnacle West is a single-state electric utility holding company: nearly all of it is Arizona Public Service (APS), the regulated monopoly that generates, moves and delivers power to ~1.4M customers across most of Arizona. It earns a state-approved return on the assets it builds — and a wave of data-centre and factory growth around Phoenix (TSMC, chip and battery plants) is driving one of its biggest-ever capital plans. Its crown jewel is a 29% stake in Palo Verde, the largest US nuclear plant, which it also operates.
In simple terms
What Pinnacle West Capital really sells
Pinnacle West is a single-state electric utility holding company: nearly all of it is Arizona Public Service (APS), the regulated monopoly that generates, moves and delivers power to ~1.4M customers across most of Arizona. It earns a state-approved return on the assets it builds — and a wave of data-centre and factory growth around Phoenix (TSMC, chip and battery plants) is driving one of its biggest-ever capital plans. Its crown jewel is a 29% stake in Palo Verde, the largest US nuclear plant, which it also operates.
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