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Side-by-side financial comparison of Pinnacle West Capital (PNW) and Qnity Electronics, Inc. (Q). Click either name above to swap in a different company.
Qnity Electronics, Inc. is the larger business by last-quarter revenue ($1.3B vs $1.1B, roughly 1.2× Pinnacle West Capital). Qnity Electronics, Inc. runs the higher net margin — 12.3% vs 1.6%, a 10.8% gap on every dollar of revenue. On growth, Qnity Electronics, Inc. posted the faster year-over-year revenue change (10.5% vs 3.0%).
Pinnacle West Capital Corporation is an American utility holding company that owns Arizona Public Service (APS). It is publicly traded on the New York Stock exchange and a component of the S&P 500 stock market index. APS is the largest utility company in Arizona and is regulated by the Arizona Corporation Commission (ACC).
PNW vs Q — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.3B |
| Net Profit | $17.6M | $162.0M |
| Gross Margin | — | 47.0% |
| Operating Margin | 10.7% | — |
| Net Margin | 1.6% | 12.3% |
| Revenue YoY | 3.0% | 10.5% |
| Net Profit YoY | 798.0% | 48.6% |
| EPS (diluted) | $0.12 | $0.72 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $1.3B | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.8B | $1.3B | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.8B | $1.1B | ||
| Q2 24 | $1.3B | — |
| Q1 26 | — | $162.0M | ||
| Q4 25 | $17.6M | — | ||
| Q3 25 | $417.5M | $211.0M | ||
| Q2 25 | $196.9M | — | ||
| Q1 25 | $-338.0K | — | ||
| Q4 24 | $-2.5M | — | ||
| Q3 24 | $399.3M | $199.0M | ||
| Q2 24 | $208.1M | — |
| Q1 26 | — | 47.0% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 45.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 47.0% | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 10.7% | — | ||
| Q3 25 | 32.0% | 21.3% | ||
| Q2 25 | 22.6% | — | ||
| Q1 25 | 5.5% | — | ||
| Q4 24 | 7.7% | — | ||
| Q3 24 | 30.9% | 21.8% | ||
| Q2 24 | 24.0% | — |
| Q1 26 | — | 12.3% | ||
| Q4 25 | 1.6% | — | ||
| Q3 25 | 22.9% | 16.5% | ||
| Q2 25 | 14.5% | — | ||
| Q1 25 | -0.0% | — | ||
| Q4 24 | -0.2% | — | ||
| Q3 24 | 22.6% | 17.3% | ||
| Q2 24 | 15.9% | — |
| Q1 26 | — | $0.72 | ||
| Q4 25 | $0.12 | — | ||
| Q3 25 | $3.39 | $1.01 | ||
| Q2 25 | $1.58 | — | ||
| Q1 25 | $-0.04 | — | ||
| Q4 24 | $-0.04 | — | ||
| Q3 24 | $3.37 | $0.95 | ||
| Q2 24 | $1.76 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $6.6M | $857.0M |
| Total DebtLower is stronger | — | $4.0B |
| Stockholders' EquityBook value | $7.0B | $7.5B |
| Total Assets | $30.0B | $14.1B |
| Debt / EquityLower = less leverage | — | 0.54× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $857.0M | ||
| Q4 25 | $6.6M | — | ||
| Q3 25 | $30.9M | $128.0M | ||
| Q2 25 | $18.8M | — | ||
| Q1 25 | $10.0M | — | ||
| Q4 24 | $3.8M | — | ||
| Q3 24 | $49.2M | — | ||
| Q2 24 | $4.0M | — |
| Q1 26 | — | $4.0B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $7.5B | ||
| Q4 25 | $7.0B | — | ||
| Q3 25 | $7.2B | $9.1B | ||
| Q2 25 | $6.7B | — | ||
| Q1 25 | $6.7B | — | ||
| Q4 24 | $6.8B | — | ||
| Q3 24 | $6.6B | $11.1B | ||
| Q2 24 | $6.2B | — |
| Q1 26 | — | $14.1B | ||
| Q4 25 | $30.0B | — | ||
| Q3 25 | $29.9B | $12.5B | ||
| Q2 25 | $29.2B | — | ||
| Q1 25 | $27.2B | — | ||
| Q4 24 | $26.1B | — | ||
| Q3 24 | $26.3B | — | ||
| Q2 24 | $25.7B | — |
| Q1 26 | — | 0.54× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $476.8M | — |
| Free Cash FlowOCF − Capex | $-192.7M | — |
| FCF MarginFCF / Revenue | -17.1% | — |
| Capex IntensityCapex / Revenue | 59.3% | 9.3% |
| Cash ConversionOCF / Net Profit | 27.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-819.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $476.8M | — | ||
| Q3 25 | $665.0M | $782.0M | ||
| Q2 25 | $261.4M | — | ||
| Q1 25 | $401.9M | — | ||
| Q4 24 | $439.5M | — | ||
| Q3 24 | $633.2M | — | ||
| Q2 24 | $189.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | $-192.7M | — | ||
| Q3 25 | $42.0M | $568.0M | ||
| Q2 25 | $-448.1M | — | ||
| Q1 25 | $-220.7M | — | ||
| Q4 24 | $-92.1M | — | ||
| Q3 24 | $-32.7M | — | ||
| Q2 24 | $-344.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | -17.1% | — | ||
| Q3 25 | 2.3% | 44.5% | ||
| Q2 25 | -33.0% | — | ||
| Q1 25 | -21.4% | — | ||
| Q4 24 | -8.4% | — | ||
| Q3 24 | -1.8% | — | ||
| Q2 24 | -26.3% | — |
| Q1 26 | — | 9.3% | ||
| Q4 25 | 59.3% | — | ||
| Q3 25 | 34.2% | 16.8% | ||
| Q2 25 | 52.2% | — | ||
| Q1 25 | 60.3% | — | ||
| Q4 24 | 48.5% | — | ||
| Q3 24 | 37.6% | — | ||
| Q2 24 | 40.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 27.09× | — | ||
| Q3 25 | 1.59× | 3.71× | ||
| Q2 25 | 1.33× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.59× | — | ||
| Q2 24 | 0.91× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
Q
Segment breakdown not available.
