Pinnacle West Capital Corp (PNW)
Pretax margin
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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
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Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 578,469 | 542,963 | 466,758 | 535,198 | 558,429 | 614,768 | 647,375 | 718,632 | 728,806 | 665,905 | 677,850 | 650,239 | 628,732 | 648,353 | 590,289 | 516,868 | 527,420 | 584,847 | 618,650 | 668,202 |
Revenue (ttm) | US$ in thousands | 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 | 3,471,212 | 3,557,197 | 3,634,437 | 3,739,059 |
Pretax margin | 12.32% | 11.52% | 10.27% | 11.93% | 12.91% | 14.94% | 16.38% | 18.47% | 19.16% | 17.78% | 18.36% | 17.95% | 17.53% | 18.44% | 17.10% | 15.24% | 15.19% | 16.44% | 17.02% | 17.87% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $578,469K ÷ $4,695,989K
= 12.32%
Pinnacle West Capital Corp.'s pretax margin has shown a decreasing trend over the last four quarters, dropping from 13.31% in Q4 2022 to 12.69% in Q4 2023. This indicates that the company's ability to generate profits before accounting for taxes has declined. The most recent pretax margin of 12.69% in Q4 2023 is lower than the average of the previous quarters (Q3 2023 to Q1 2022), which was 14.69%. This suggests a recent decrease in the company's profitability compared to the recent past. Further investigation into the factors contributing to the decline in pretax margin may be warranted to understand the underlying reasons for this trend.
Peer comparison
Dec 31, 2023