Pinnacle West Capital Corp (PNW)

Fixed asset turnover

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Revenue (ttm) US$ in thousands 5,124,912 5,021,076 4,890,036 4,702,746 4,695,989 4,713,725 4,545,835 4,485,805 4,324,381 4,113,928 3,952,308 3,890,888 3,803,832 3,745,936 3,692,186 3,621,526 3,586,981 3,516,411 3,452,701 3,392,612
Property, plant and equipment US$ in thousands 16,833,500 16,384,600 16,286,100 15,867,100 15,803,100 15,620,600 15,468,700 14,551,500 14,522,300 14,476,900 14,499,500 14,247,600 14,184,100 14,022,900 13,957,900 13,758,900 13,727,600 13,453,400 13,438,100 13,146,500
Fixed asset turnover 0.30 0.31 0.30 0.30 0.30 0.30 0.29 0.31 0.30 0.28 0.27 0.27 0.27 0.27 0.26 0.26 0.26 0.26 0.26 0.26

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,124,912K ÷ $16,833,500K
= 0.30

The fixed asset turnover ratio for Pinnacle West Capital Corp has been relatively stable around 0.26 to 0.27 from March 31, 2020, to June 30, 2022. However, there has been a gradual improvement in the ratio from September 30, 2022, to December 31, 2024, reaching a peak of 0.31 on September 30, 2024. This indicates that the company is becoming more efficient in generating revenue from its fixed assets over time. The increase in the ratio suggests that Pinnacle West Capital Corp has been better utilizing its fixed assets to generate sales, which is a positive sign for the company's operational efficiency and overall financial performance.