Return On Equity	(Dec 31 2025) 2025	(Dec 31 2024) 2024	(Dec 31 2023) 2023	(Dec 31 2022) 2022	(Dec 31 2021) 2021
Y / Y Equity Change	3.35 %	9.11 %	2.03 %	2.3 %	4.67 %
Y / Y Net Income Change	0.9 %	20.67 %	3.59 %	-21.25 %	11.56 %
Return On Equity	8.91 %	9.13 %	8.25 %	8.13 %	10.56 %

PNW all Ratios >> Back to PNW Management Effectiveness >> See Quarterly PNW Return On Equity

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Roe Comment

In (Dec 31 2025) ROE detoriated to 8.91 %, despite net income growth.

Financial Statements
Pinnacle West Capital's Equity	$ 7,087 Millions	Annual PNW's Balance sheet
Pinnacle West Capital's Annual Income	$ 632 Millions	Annual PNW's Income Statement
Where are PNW's Income coming from?		Visit PNW's Income by Segment

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