What is the current annual gross margin of PNW?

As of today, PNW annual gross margin is 25.41%

What is 1-year change in PNW annual gross margin?

PNW annual gross margin is down -2.12% year-over-year

What is 3-year change in PNW annual gross margin?

PNW annual gross margin is up +69.74% over the past 3 years

How far is PNW annual gross margin from its all-time high?

PNW annual gross margin is currently -61.84% below its historical high of 66.58% set on December 31, 1991

How does PNW annual gross margin rank versus sector peers?

PNW annual gross margin is higher than 43.14% of companies in Utilities sector

When is PNW next annual earnings release?

The next annual earnings release for PNW is on February 25, 2027

What is the current quarterly gross margin of PNW?

As of today, PNW quarterly gross margin is 35.84%

What is PNW quarterly gross margin most recent change?

PNW quarterly gross margin was up +29.95% on September 30, 2026

What is 1-year change in PNW quarterly gross margin?

PNW quarterly gross margin is down -7.82% year-over-year

How far is PNW quarterly gross margin from its all-time high?

PNW quarterly gross margin is currently -57.55% below its historical high of 84.42% set on March 31, 1996

How does PNW quarterly gross margin rank versus sector peers?

PNW quarterly gross margin is higher than 60.00% of companies in Utilities sector

When is PNW next earnings release?

The next earnings release for PNW is on February 25, 2027

PNW Gross Margin History & Chart Since 1980

Annual Gross Margin

25.41%0.55%-2.12%

December 31, 2025

Summary

Current Value: As of today, PNW annual gross margin is 25.41%, down -2.12% on December 31, 2025
Historical Performance: PNW annual gross margin is up +69.74% over the past 3 years, down -11.00% over the past 5 years
All-Time High Comparison: PNW annual gross margin is currently -61.84% below its historical high of 66.58% set on December 31, 1991
3-Year Low Comparison: PNW annual gross margin is +69.74% above its 3-year low of 14.97% reached on an earlier date
Sector Comparison: PNW annual gross margin is higher than 43.14% of companies in Utilities sector

Gross Margin Chart

beforeafter

Performance

PNW Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Gross Margin	Dec 31, 25	25.41%	-2.1%	+69.7%	-11.0%	-28.4%
Quarterly Gross Margin	Sep 30, 26	35.84%	-7.8%	-2.5%	-25.9%	-25.9%
Price	Nov 12, 26	$107.03	+20.5%	+55.3%	+61.9%	+128.3%
PE Ratio	Nov 12, 26	20.12	+10.3%	+22.5%	+53.7%	+26.7%
Annual Revenue	Dec 31, 25	$5.34B	+4.2%	+23.5%	+48.9%	+63.7%
Annual Gross Profit	Dec 31, 25	$0.00	-100.0%	-100.0%	-100.0%	-100.0%
Annual Operating Margin	Dec 31, 25	20.94%	-2.5%	+113.2%	-5.2%	-28.6%
Annual Net Margin	Dec 31, 25	11.83%	-3.2%	+2.2%	-25.6%	+10.1%

Gross Margin Highs

PNW Annual Gross Margin Highs Comparison
Period	High	Date	Current
3Y	30.25%	Dec 31, 23	-16.0%
5Y	30.25%	Dec 31, 23	-16.0%
All	66.58%	Dec 31, 91	-61.8%

Gross Margin Lows

PNW Annual Gross Margin Lows Comparison
Period	Low	Date	Current
3Y	14.97%	N/A	+69.7%
5Y	14.97%	Dec 31, 22	+69.7%
All	0.00%	Dec 1, 80	N/A

Gross Margin History

Year	Value	Change
2025	25.41%	-2.1%
2024	25.96%	-14.2%
2023	30.25%	+102.1%
2022	14.97%	-31.4%
2021	21.81%	-23.6%
2020	28.55%	+0.8%
2019	28.32%	+3.2%
2018	27.44%	-18.0%
2017	33.46%	+16.6%
2016	28.69%	-12.5%
2015	32.78%	+6.6%
2014	30.76%	-1.1%
2013	31.09%	-8.1%
2012	33.83%	+2.3%
2011	33.07%	-6.8%
2010	35.49%	+25.8%
2009	28.22%	+36.8%
2008	20.63%	-9.5%
2007	22.80%	-0.7%
2006	22.97%	-17.0%
2005	27.68%	+16.4%
2004	23.78%	-44.7%
2003	43.00%	-13.7%

Year	Value	Change
2002	49.81%	+192.3%
2001	17.04%	-18.9%
2000	21.02%	-24.6%
1999	27.87%	-13.2%
1998	32.11%	-5.7%
1997	34.04%	-7.1%
1996	36.64%	-13.2%
1995	42.21%	+5.3%
1994	40.09%	-8.7%
1993	43.93%	-2.9%
1992	45.25%	-32.0%
1991	66.58%	>+9,900.0%
1990	0.00%	0.0%
1989	0.00%	0.0%
1988	0.00%	0.0%
1987	0.00%	0.0%
1986	0.00%	0.0%
1985	0.00%	0.0%
1984	0.00%	0.0%
1983	0.00%	0.0%
1982	0.00%	0.0%
1981	0.00%	0.0%
1980	0.00%	-

FAQ

What is the current annual gross margin of PNW?: As of today, PNW annual gross margin is 25.41%
What is 1-year change in PNW annual gross margin?: PNW annual gross margin is down -2.12% year-over-year
What is 3-year change in PNW annual gross margin?: PNW annual gross margin is up +69.74% over the past 3 years
How far is PNW annual gross margin from its all-time high?: PNW annual gross margin is currently -61.84% below its historical high of 66.58% set on December 31, 1991
How does PNW annual gross margin rank versus sector peers?: PNW annual gross margin is higher than 43.14% of companies in Utilities sector
When is PNW next annual earnings release?: The next annual earnings release for PNW is on February 25, 2027

Gross Margin Formula

Gross Margin = Gross Profit

Revenue × 100%

Quarterly Gross Margin

35.84%8.26%+29.95%

September 30, 2026

Summary

Current Value: As of today, PNW quarterly gross margin is 35.84%, up +29.95% on September 30, 2026
Historical Performance: PNW quarterly gross margin is down -7.82% year-over-year, down -2.48% over the past 3 years
All-Time High Comparison: PNW quarterly gross margin is currently -57.55% below its historical high of 84.42% set on March 31, 1996
3-Year Low Comparison: PNW quarterly gross margin is +89500.00% above its 3-year low of 0.04% reached on March 31, 2025
Sector Comparison: PNW quarterly gross margin is higher than 60.00% of companies in Utilities sector

Performance

PNW Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Gross Margin	Sep 30, 26	35.84%	+29.9%	-7.8%	-2.5%	-25.9%
Annual Gross Margin	Dec 31, 25	25.41%	–	-2.1%	+69.7%	-11.0%
Price	Nov 12, 26	$107.03	+6.3%	+20.5%	+55.3%	+61.9%
PE Ratio	Nov 12, 26	20.12	+4.1%	+10.3%	+22.5%	+53.7%
Quarterly Revenue	Sep 30, 26	$1.97B	+35.5%	+8.3%	+20.4%	+50.8%
Quarterly Gross Profit	Sep 30, 26	$707.05M	+76.1%	-0.1%	+17.5%	+11.8%
Quarterly Operating Margin	Sep 30, 26	32.96%	+42.6%	-7.6%	-1.6%	-25.3%
Quarterly Net Margin	Sep 30, 26	22.12%	+78.1%	-3.5%	-10.0%	-15.9%

Quarterly Gross Margin Highs

PNW Quarterly Gross Margin Highs Comparison
Period	High	Date	Current
1Y	38.88%	N/A	-7.8%
3Y	38.88%	Sep 30, 25	-7.8%
5Y	48.35%	N/A	-25.9%
All	84.42%	Mar 31, 96	-57.5%

Quarterly Gross Margin Lows

PNW Quarterly Gross Margin Lows Comparison
Period	Low	Date	Current
1Y	18.27%	Dec 31, 25	+96.2%
3Y	0.04%	Mar 31, 25	>+9999.0%
5Y	-14.09%	Mar 31, 22	+354.4%
All	-14.09%	Mar 31, 22	+354.4%

Quarterly Gross Margin History

Month	Value	Change
Sep 2026	35.84%	+29.9%
Jun 2026	27.58%	+42.7%
Mar 2026	19.33%	+5.8%
Dec 2025	18.27%	-53.0%
Sep 2025	38.88%	+81.9%
Jun 2025	21.37%	>+9,900.0%
Mar 2025	0.04%	-99.6%
Dec 2024	10.20%	-72.6%
Sep 2024	37.28%	+29.4%
Jun 2024	28.82%	+50.8%
Mar 2024	19.11%	-17.5%
Dec 2023	23.16%	-37.0%
Sep 2023	36.75%	+41.3%
Jun 2023	26.01%	-17.3%
Mar 2023	31.47%	+50.9%
Dec 2022	20.85%	-7.8%
Sep 2022	22.61%	+11.6%
Jun 2022	20.26%	+243.8%
Mar 2022	-14.09%	-169.5%
Dec 2021	20.27%	-58.1%
Sep 2021	48.35%	+95.9%
Jun 2021	24.68%	+105.8%
Mar 2021	11.99%	-18.5%
Dec 2020	14.72%	-60.0%
Sep 2020	36.83%	+5.7%
Jun 2020	34.84%	+79.5%
Mar 2020	19.41%	+51.3%
Dec 2019	12.83%	-68.6%
Sep 2019	40.85%	+17.4%
Jun 2019	34.80%	+138.8%
Mar 2019	14.57%	+25.5%
Dec 2018	11.61%	-69.3%
Sep 2018	37.80%	+22.5%
Jun 2018	30.86%	+77.2%
Mar 2018	17.42%	+22.2%
Dec 2017	14.25%	-67.5%
Sep 2017	43.84%	+18.5%
Jun 2017	37.01%	+46.3%
Mar 2017	25.29%	+39.0%
Dec 2016	18.19%	-59.9%
Sep 2016	45.35%	+93.2%
Jun 2016	23.47%	+27.0%
Mar 2016	18.48%	-24.2%
Dec 2015	24.39%	-46.0%
Sep 2015	45.14%	+51.3%
Jun 2015	29.84%	+25.7%
Mar 2015	23.73%	+0.4%
Dec 2014	23.64%	-44.2%
Sep 2014	42.36%	+29.1%
Jun 2014	32.81%	+108.1%
Mar 2014	15.77%	-15.8%
Dec 2013	18.72%	-55.6%
Sep 2013	42.14%	+14.4%
Jun 2013	36.84%	+110.6%
Mar 2013	17.49%	-28.0%
Dec 2012	24.30%	-48.2%
Sep 2012	46.87%	+40.0%
Jun 2012	33.49%	+54.5%
Mar 2012	21.68%	-11.3%
Dec 2011	24.44%	-49.5%
Sep 2011	48.39%	+44.9%
Jun 2011	33.39%	+108.9%
Mar 2011	15.98%	-22.6%
Dec 2010	20.64%	-58.1%

Month	Value	Change
Sep 2010	49.25%	+30.5%
Jun 2010	37.75%	+65.4%
Mar 2010	22.83%	+14.3%
Dec 2009	19.98%	-52.1%
Sep 2009	41.74%	+42.6%
Jun 2009	29.27%	+253.1%
Mar 2009	8.29%	-42.2%
Dec 2008	14.35%	-54.6%
Sep 2008	31.64%	+43.0%
Jun 2008	22.13%	+53.4%
Mar 2008	14.43%	+54.3%
Dec 2007	9.35%	-72.0%
Sep 2007	33.42%	+37.9%
Jun 2007	24.23%	+58.6%
Mar 2007	15.28%	+18.5%
Dec 2006	12.89%	-60.4%
Sep 2006	32.57%	+28.0%
Jun 2006	25.44%	+68.0%
Mar 2006	15.14%	-11.1%
Dec 2005	17.03%	-53.5%
Sep 2005	36.65%	+21.0%
Jun 2005	30.28%	+31.5%
Mar 2005	23.02%	-40.9%
Dec 2004	38.94%	+8.2%
Sep 2004	35.99%	+53.1%
Jun 2004	23.50%	-63.5%
Mar 2004	64.47%	-3.5%
Dec 2003	66.82%	+66.2%
Sep 2003	40.20%	+73.0%
Jun 2003	23.24%	+41.4%
Mar 2003	16.43%	-65.1%
Dec 2002	47.05%	+49.9%
Sep 2002	31.38%	+30.3%
Jun 2002	24.08%	+20.8%
Mar 2002	19.94%	+21.7%
Dec 2001	16.39%	-15.2%
Sep 2001	19.33%	-9.5%
Jun 2001	21.37%	+43.5%
Mar 2001	14.89%	-14.3%
Dec 2000	17.38%	-0.8%
Sep 2000	17.52%	-41.5%
Jun 2000	29.97%	+20.2%
Mar 2000	24.93%	+5.6%
Dec 1999	23.61%	-20.6%
Sep 1999	29.72%	-9.4%
Jun 1999	32.82%	+18.8%
Mar 1999	27.63%	+4.9%
Dec 1998	26.33%	-29.2%
Sep 1998	37.19%	+14.7%
Jun 1998	32.41%	+10.9%
Mar 1998	29.23%	-63.3%
Jun 1997	79.69%	+1.5%
Mar 1997	78.54%	-4.2%
Sep 1996	81.96%	-0.5%
Jun 1996	82.38%	-2.4%
Mar 1996	84.42%	+0.7%
Dec 1995	83.86%	+0.5%
Sep 1995	83.48%	-0.7%
Jun 1995	84.08%	-0.1%
Mar 1995	84.14%	+1.0%
Dec 1994	83.28%	+0.6%
Sep 1994	82.76%	+1.6%
Jun 1994	81.48%	+0.8%
Mar 1994	80.87%	-

FAQ

What is the current quarterly gross margin of PNW?: As of today, PNW quarterly gross margin is 35.84%
What is PNW quarterly gross margin most recent change?: PNW quarterly gross margin was up +29.95% on September 30, 2026
What is 1-year change in PNW quarterly gross margin?: PNW quarterly gross margin is down -7.82% year-over-year
How far is PNW quarterly gross margin from its all-time high?: PNW quarterly gross margin is currently -57.55% below its historical high of 84.42% set on March 31, 1996
How does PNW quarterly gross margin rank versus sector peers?: PNW quarterly gross margin is higher than 60.00% of companies in Utilities sector
When is PNW next earnings release?: The next earnings release for PNW is on February 25, 2027

Gross Margin Formula

Gross Margin = Gross Profit

Revenue × 100%

Data Sources & References

PNW Official Website www.pinnaclewest.com
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/764622/000076462226000011/0000764622-26-000011-index.htm
PNW Profile on Yahoo Finance finance.yahoo.com/quote/PNW
PNW Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/pnw