Pinnacle West Capital Corp (PNW)

Operating profit margin

		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
Operating income (ttm)	US$ in thousands	1,012,063	1,001,905	971,182	840,715	824,640	787,011	688,321	728,136	731,911	745,177	756,977	812,268	805,310	786,141	811,776	795,264	788,152	769,301	717,583	652,298
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
Operating profit margin		19.75%	19.95%	19.86%	17.88%	17.56%	16.70%	15.14%	16.23%	16.93%	18.11%	19.15%	20.88%	21.17%	20.99%	21.99%	21.96%	21.97%	21.88%	20.78%	19.23%

December 31, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,012,063K ÷ $5,124,912K
= 19.75%

The operating profit margin of Pinnacle West Capital Corp has exhibited some fluctuations over the past few years based on the provided data. The margin was relatively stable during the period from March 31, 2020, to June 30, 2021, ranging between approximately 19% and 22%. However, there was a slight decline in the margin in the subsequent quarters, dropping to around 20% by September 30, 2021.

From December 31, 2021, to December 31, 2024, the operating profit margin experienced more significant variability, with fluctuations between 16% and 20%. The margin reached a peak of 19.95% on September 30, 2024, before slightly decreasing to 19.75% by the end of December 31, 2024.

Overall, it is observed that the operating profit margin of Pinnacle West Capital Corp has shown some volatility in recent periods, but has generally been maintained at a reasonable level, demonstrating the company's ability to generate profits from its core operations. Further analysis and consideration of other financial metrics would be beneficial to provide a more holistic assessment of the company's financial performance.