Definitive Analysis
Definitive Analysis
Financial Statements
Periods / Units
Fundamentals
Valuations
Miscellaneous
Analysis Mode
Full Access
See Pricing Start Trial

Pinnacle West Capital Corporation (PNW)

Company Dividend Discount ModelIndustry: Regulated ElectricSector: Utilities

Valuation Snapshot

Stable Growth$65.11 - $112.55$85.50
Multi-Stage$74.81 - $81.67$78.17
Blended Fair Value$81.84
Current Price$89.66
Upside-8.72%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.67%4.81%3.303.243.173.092.942.762.592.432.302.18
YoY Growth--2.12%2.01%2.54%5.39%6.35%6.72%6.59%5.68%5.46%5.41%
Dividend Yield--3.47%4.37%4.00%3.96%3.61%3.64%2.73%3.04%2.75%2.90%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)594.30
(-) Cash Dividends Paid (M)415.54
(=) Cash Retained (M)178.76
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)118.8674.2944.57
Cash Retained (M)178.76178.76178.76
(-) Cash Required (M)-118.86-74.29-44.57
(=) Excess Retained (M)59.90104.48134.19
(/) Shares Outstanding (M)119.44119.44119.44
(=) Excess Retained per Share0.500.871.12
LTM Dividend per Share3.483.483.48
(+) Excess Retained per Share0.500.871.12
(=) Adjusted Dividend3.984.354.60
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate2.81%3.81%4.81%
Fair Value$65.11$85.50$112.55
Upside / Downside-27.39%-4.63%25.53%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)594.30616.96640.47664.89690.23716.54738.04
Payout Ratio69.92%73.94%77.95%81.97%85.98%90.00%92.50%
Projected Dividends (M)415.54456.15499.26545.00593.49644.89682.69

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate2.81%3.81%4.81%
Year 1 PV (M)414.09418.11422.14
Year 2 PV (M)411.42419.47427.59
Year 3 PV (M)407.69419.70431.95
Year 4 PV (M)403.02418.94435.31
Year 5 PV (M)397.54417.26437.74
PV of Terminal Value (M)6,901.327,243.547,599.21
Equity Value (M)8,935.099,337.019,753.94
Shares Outstanding (M)119.44119.44119.44
Fair Value$74.81$78.17$81.67
Upside / Downside-16.56%-12.81%-8.92%

High-Yield Dividend Screener

« Prev Page 17 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
SAHSonic Automotive, Inc.2.13%$1.3135.28%
AIG-PAAmerican International Group, Inc.2.12%$1.6930.01%
LANCLancaster Colony Corporation2.11%$3.8261.80%
TDACTranslational Development Acquisition Corp.2.10%$0.2279.86%
FASTFastenal Company2.09%$0.8579.50%
FDUSFidus Investment Corporation2.09%$0.4117.86%
IBOCInternational Bancshares Corporation2.09%$1.4020.70%
SMRSXALPS/Smith Short Duration Bond Investor2.09%$0.2298.81%
SSSSSuRo Capital Corp.2.09%$0.208.46%
MLRMiller Industries, Inc.2.08%$0.7830.00%
OACCOaktree Acquisition Corp. III Life Sciences2.08%$0.2261.74%
FCCOFirst Community Corporation2.07%$0.6025.08%
GNTXGentex Corporation2.07%$0.4928.42%
OACCUOaktree Acquisition Corp. III Life Sciences Unit2.07%$0.2261.74%
DLBDolby Laboratories, Inc.2.06%$1.3149.64%
APOGApogee Enterprises, Inc.2.05%$0.7737.24%
CAKEThe Cheesecake Factory Incorporated2.05%$1.0832.74%
EWBCEast West Bancorp, Inc.2.05%$2.3625.97%
ALFCenturion Acquisition Corp.2.04%$0.2251.38%
ATOAtmos Energy Corporation2.04%$3.4546.19%
OVLYOak Valley Bancorp2.04%$0.6129.73%
0HYE.LCincinnati Financial Corporation2.03%$3.2824.36%
AOSA. O. Smith Corporation2.03%$1.3936.68%
ACTEnact Holdings, Inc.2.02%$0.8018.03%
ARKOArko Corp.2.02%$0.0955.86%
KFYKorn Ferry2.02%$1.3426.97%
0H68.LAflac Incorporated2.01%$2.2028.14%
LENLennar Corporation2.01%$2.1025.46%
AVYAvery Dennison Corporation2.00%$3.6641.17%
RHLDResolute Holdings Management, Inc.2.00%$3.7422.61%
ALFUUCenturion Acquisition Corp. Unit1.99%$0.2251.38%
GNTYGuaranty Bancshares, Inc.1.99%$0.9730.69%
NCNACCO Industries, Inc.1.99%$0.9524.54%
QCOMQUALCOMM Incorporated1.99%$3.4468.67%
THGThe Hanover Insurance Group, Inc.1.98%$3.5520.46%
CNMDCONMED Corporation1.97%$0.8038.60%
FBINFortune Brands Innovations, Inc.1.97%$1.0036.69%
FEIMFrequency Electronics, Inc.1.97%$1.0046.25%
RPMRPM International Inc.1.97%$2.0437.93%
BNJBrookfield Finance Inc. 4.50% P1.96%$0.3070.51%
MTGMGIC Investment Corporation1.96%$0.5717.51%
CCSCentury Communities, Inc.1.95%$1.1516.06%
0K6F.LNetApp, Inc.1.94%$2.0735.51%
BLKBlackRock, Inc.1.94%$21.0053.94%
FNB-PEF.N.B. Corporation1.94%$0.4834.55%
0L4F.LSealed Air Corporation1.93%$0.8030.13%
AEOAmerican Eagle Outfitters, Inc.1.93%$0.5142.14%
SLGNSilgan Holdings Inc.1.93%$0.8026.98%
FSFGFirst Savings Financial Group, Inc.1.92%$0.6123.93%
GENGen Digital Inc.1.92%$0.5054.91%