Pinnacle West Capital Corp (PNW)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	7,540,620	8,164,370	8,164,320	7,916,550	7,741,290	7,344,200	7,241,300	7,226,620	6,913,740	6,763,150	6,315,930	6,465,040	6,314,270	6,316,420	5,922,160	4,833,320	4,832,560	4,985,000	4,886,880	4,886,110
Total assets	US$ in thousands	24,661,200	24,434,400	23,979,300	23,580,400	22,723,400	22,844,600	22,501,500	22,201,000	22,003,200	21,536,400	21,061,600	20,184,700	20,020,400	19,751,400	19,307,400	18,561,800	18,479,200	18,377,600	18,165,700	17,854,100
Debt-to-assets ratio		0.31	0.33	0.34	0.34	0.34	0.32	0.32	0.33	0.31	0.31	0.30	0.32	0.32	0.32	0.31	0.26	0.26	0.27	0.27	0.27

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $7,540,620K ÷ $24,661,200K
= 0.31

The debt-to-assets ratio of Pinnacle West Capital Corp. has been relatively stable over the past eight quarters, ranging from 0.34 to 0.37. This indicates that, on average, the company finances around 34% to 37% of its total assets through debt. The consistency in this ratio suggests a prudent approach to managing debt levels and leveraging assets to support the company's operations and investments. A lower debt-to-assets ratio generally signifies lower financial risk and greater financial stability for the company, as it indicates a lower dependency on debt financing. It is important for investors and stakeholders to monitor this ratio over time to assess Pinnacle West's leverage position and financial health.