PNW · Pinnacle West Capital Corporation

$102.702026-05-17

Sector: Utilities; Industry: Regulated Electric; Sub-Industry: Multi-Utilities

Intrinsic Value Range Comparison · Mulya.ai

Leases factored

Bull

$0

-176.3% vs market

Base · active

$0

-196.7% vs market

Bear

$0

-187.3% vs market

Mulya.ai vs Analyst IV Comparison?

Bear $-90

Base $-99

Bull $-78

Median $97

Market $103

Market Price $103

Mulya.ai Base $-99

Analysts Median $97

Mulya.ai IV range ($-90 · $-78)

Analysts Range ($90 · $115)

Fundamentals · historical + forward · base

italics = DCF projection

Period	Revenue	Rev Gr ?	Ops M% ?	Tax Rate ?	NOPAT ?	Reinvest ?	FCFF ?	WACC% ?	PV FCFF ?	ROIC ?	Inv. Cap ?	EPS ?	P/E
2021.Q4	$3.8B	—	25.5%	14.8%	$827MM	−$2.5B	−$1.7B	4.7%	—	5.4%	$15.4B	$5.07	—
2022.Q4	$4.3B	13.7%	20.4%	13.0%	$767MM	−$2.8B	−$2.0B	6.4%	—	4.9%	$16.1B	$3.96	—
2023.Q4	$4.7B	8.6%	21.1%	12.9%	$865MM	−$2.2B	−$1.3B	6.5%	—	5.2%	$17.4B	$4.11	—
2024.Q4	$5.1B	9.1%	23.8%	15.0%	$1.0B	−$3.9B	−$2.8B	6.9%	—	5.7%	$18.9B	$4.99	—
2025.Q4	$5.3B	4.2%	26.1%	14.5%	$1.2B	−$4.7B	−$3.5B	6.7%	—	5.5%	$24.3B	$5.05	9.0
italics below = DCF projection · 10yr Rev CAGR: 4.5%
2026.Q4	$5.5B	+3.9%	25.3%	15.0%	$1.2B	−$3.8B	−$2.7B	7.1%	−$2.5B	4.5%	$28.1B	$8.12	12.6
2027.Q4	$5.9B	+6.8%	25.3%	15.6%	$1.3B	−$3.5B	−$2.2B	7.3%	−$1.9B	4.2%	$31.6B	$8.61	11.9
2028.Q4	$6.2B	+4.8%	25.3%	16.1%	$1.3B	−$1.7B	−$418MM	7.4%	−$339MM	4.1%	$33.3B	$8.97	11.4
2029.Q4	$6.5B	+4.4%	25.3%	16.7%	$1.4B	−$1.9B	−$572MM	7.5%	−$431MM	4.0%	$35.3B	$9.30	11.0
2030.Q4	$6.8B	+4.4%	25.3%	17.2%	$1.4B	−$1.7B	−$317MM	7.7%	−$222MM	3.9%	$37.0B	$9.65	10.6

Term. Yr+	$8.7B	4.1%	26.0%	20.0%	$1.8B	−$859MM	$943MM	8.6%	$9.9B	8.6%	—	—	—

Active scenario IV: $0 (-196.7% vs market)