Pinnacle West Capital Corp (PNW)

Pretax 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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	719,335	728,936	715,002	601,336	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
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
Pretax margin		14.04%	14.52%	14.62%	12.79%	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%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $719,335K ÷ $5,124,912K
= 14.04%

The pretax margin of Pinnacle West Capital Corp has fluctuated over the period from March 31, 2020 to December 31, 2024. The pretax margin represents the percentage of each dollar of revenue that the company retains as profit before taxes.

The pretax margin started at 15.24% on March 31, 2020, increased to a peak of 19.16% on December 31, 2021, and then began to decline. During the later periods, the pretax margin fluctuated, with a general downward trend. In the most recent data available on December 31, 2024, the pretax margin stood at 14.04%.

Overall, the trend in the pretax margin shows some variability, with periods of growth followed by periods of decline. It is important for Pinnacle West Capital Corp to monitor and potentially address the factors contributing to these fluctuations to ensure sustained profitability and financial health.