Pinnacle West Capital Corp
- 取引所
- 米国株
- 国 / 地域
- USA
- 上場日
- 1984年7月19日
- 従業員数
- 6,610
- 公式サイト
- www.pinnaclewest.com
総合バリュエーションレンジ · 保守的 $75–$85 / 妥当 $85–$100 / 楽観的 $100–$115。$105.38 時点で 楽観的な本源的価値レンジ内 · 多くの期待を織り込み済み。
レポート公開時 $99.74（2026年5月30日）
データ提供：EODHD、報告通貨で表示。参考情報であり、投資助言ではありません。
Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using nuclear, gas, oil, coal, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables. The company also owns and maintains substations, including transmission and distribution yards; and owns energy storage facilities. Pinnacle West Capital Corporation was incorporated in 1985 and is headquartered in Phoenix, Arizona.
沿革
Pinnacle West Capital Corporation is an investor-owned electric utility holding company headquartered in Phoenix, Arizona. It went public on July 19, 1984 and was incorporated in 1985. Nearly all of its revenue and profit come from its principal subsidiary, Arizona Public Service (APS), one of Arizona's largest and oldest electric companies, which provides electricity to roughly 1.4 million retail customers across 11 of Arizona's 15 counties using nuclear, gas, oil, coal, and solar generating facilities. The company generates, transmits, and distributes electricity and also owns substations and energy storage facilities. Revenue grew from about $3.8 billion in 2021 to roughly $5.34 billion in 2025, and the company employs about 6,610 people. In 2025 it completed a CEO transition, with Ted Geisler taking over.
業界での地位
Pinnacle West operates as a regulated electric utility through APS, holding the position of Arizona's largest and oldest electric company. Within its franchise territory the traditional retail electricity business has no direct competitor, functioning as a single-region monopoly with regulated returns set under the Arizona Corporation Commission (ACC) and the Federal Energy Regulatory Commission (FERC); the company's approved ACC/FERC rate base totals about $12.23 billion, with an ACC-allowed return on equity of 9.55% and a FERC-allowed return on equity of 10.75%. Its moat derives from institutional factors—franchise territory, licensing, the rate-setting regime, construction approvals, transmission rights, and nuclear qualification—together with high switching costs, since customers within the territory have essentially no alternative grid. Its service area is among the faster-growing in the United States, with first-quarter 2026 customer growth of 2.2% and long-term customer growth expected at 1.5%–2.5%. Peer regulated electric utilities include Ameren (AEE), Xcel Energy (XEL), Eversource (ES), and Edison International (EIX).
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