Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

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 24 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
NDA-FI.HENordea Bank Abp5.73%$0.9467.38%
RBF.BKR&B Food Supply Public Company Limited5.73%$0.1781.37%
1882.HKHaitian International Holdings Limited5.72%$1.2733.58%
3339.HKLonking Holdings Limited5.72%$0.1736.46%
4126.TWOPacific Hospital Supply Co., Ltd5.72%$4.8486.09%
SLFSun Life Financial Inc.5.72%$3.6065.58%
0QKD.LForbo Holding AG5.71%$50.0340.66%
IPE.WAIPOPEMA Securities S.A.5.71%$0.2368.17%
SNOR.OLSpareBank 1 Nordmøre5.71%$10.0420.14%
3705.TWYungShin Global Holding Corporation5.70%$3.2590.33%
MST.BKMaybank Securities (Thailand) Public Company Limited5.70%$0.3875.36%
3462.TNomura Real Estate Master Fund, Inc.5.69%$9,849.8672.94%
CHILE.SNBanco de Chile5.69%$9.8578.63%
RSUL4.SAMetalúrgica Riosulense S.A.5.69%$3.9836.85%
600007.SSChina World Trade Center Co., Ltd.5.68%$1.1395.72%
AURG.OLAurskog Sparebank5.68%$15.0028.30%
BPO-PT.TOBrookfield Office Properties Inc5.68%$1.1634.59%
KTY.WAGrupa Kety S.A.5.68%$52.8592.39%
PREB.BKPre-Built Public Company Limited5.68%$0.2076.14%
3213.TWOMildef Crete Inc.5.67%$5.9677.23%
NAB.AXNational Australia Bank Limited5.67%$2.4066.40%
3282.TComforia Residential REIT, Inc5.66%$18,861.6284.64%
DTEL.BRDeutsche Telekom AG5.66%$1.1349.89%
HELG.OLSpareBank 1 Helgeland5.66%$10.3551.40%
SITHAI.BKSrithai Superware Public Company Limited5.66%$0.0697.25%
002884.SZGuangdong Lingxiao Pump Industry Co.,Ltd.5.65%$1.0077.13%
1535.TWChina Ecotek Corporation5.65%$2.9975.30%
8960.TUnited Urban Investment Corporation5.65%$10,346.6368.81%
SIILI.HESiili Solutions Oyj5.65%$0.2640.06%
AVEN.STAvensia AB (publ)5.64%$0.5078.26%
RPH.BKRatchaphruek Hospital Public Company Limited5.64%$0.2885.55%
1702.HKDongguang Chemical Limited5.63%$0.1123.80%
601033.SSGrandtop Yongxing Group Co., Ltd.5.63%$0.8583.54%
601398.SSIndustrial & Commercial Bank of China Ltd.5.63%$0.4543.37%
JDF.BKJD Food Public Company Limited5.63%$0.0852.54%
024110.KSIndustrial Bank of Korea5.62%$1,165.3436.50%
DHBK.QADoha Bank Q.P.S.C.5.62%$0.1655.17%
0667.HKChina East Education Holdings Limited5.61%$0.3885.28%
0807.HKSIIC Environment Holdings Ltd.5.61%$0.0625.08%
EKH.BKEkachai Medical Care Public Company Limited5.61%$0.2891.43%
HIFA-B.STHifab Group AB (publ.)5.61%$0.1742.74%
KCAR.BKKrungthai Car Rent and Lease Public Company Limited5.61%$0.3043.66%
000987.SZGuangzhou Yuexiu Financial Holdings Group Co., Ltd.5.60%$0.4663.54%
0VCO.LPeyto Exploration & Development Corp.5.60%$1.2970.79%
1537.TWKung Long Batteries Industrial Co.,Ltd5.60%$7.0072.79%
DVR.AXDiverger Limited5.60%$0.0769.90%
SECURE.BKnForce Secure Public Company Limited5.60%$0.7053.33%
029960.KQKorea Environment Technology Co., Ltd.5.59%$499.3892.03%
2057.HKZTO Express (Cayman) Inc.5.59%$9.3186.81%
3468.TStar Asia Investment Corporation5.59%$3,448.1578.34%