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CEG vs. PNW: Constellation Energy vs. Pinnacle West Capital Stock Comparison

How do Constellation Energy (CEG) and Pinnacle West Capital (PNW) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Constellation Energy (CEG) and Pinnacle West Capital (PNW) are both classified in the Electric Utilities sub-industry within the broader Electric Utilities industry, placing them in the closest GICS peer bucket.

Pinnacle West Capital (PNW) has more than two decades of public-market history since February 21, 1973, whereas Constellation Energy (CEG) listed on January 19, 2022 and has a much shorter record to draw on.

Company profile comparison for Constellation Energy (CEG) and Pinnacle West Capital (PNW)
Profile ItemCEGPNW
NameConstellation Energy CorporationPinnacle West Capital Corporation
Country/RegionUnited StatesUnited States
GICS SectorUtilitiesUtilities
GICS Industry GroupUtilitiesUtilities
GICS IndustryElectric UtilitiesElectric Utilities
GICS Sub-IndustryElectric UtilitiesElectric Utilities
Market Capitalization88.56 billion USD12.63 billion USD
CurrencyUSDUSD
ExchangeNasdaqNYSE
Listing DateJanuary 19, 2022February 21, 1973
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

CEG
PNW
GSPC
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Constellation Energy (CEG) and Pinnacle West Capital (PNW). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Constellation Energy (CEG) and Pinnacle West Capital (PNW). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Constellation Energy (CEG) and Pinnacle West Capital (PNW)
MetricCEGPNW
Total Return (1Y)-23.27%24.23%
Total Return (3Y, Annualized)32.21%18.78%
Total Return (5Y, Annualized)--15.87%

Risk Profile

Drawdown History

CEG
PNW
GSPC
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Constellation Energy (CEG) and Pinnacle West Capital (PNW). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Constellation Energy (CEG) and Pinnacle West Capital (PNW)
MetricCEGPNW
Volatility (1Y, Annualized)49.44%17.21%
Beta (5Y)1.110.48
Max Drawdown (5Y)-50.70%-24.02%
Avg. Volume (3M)3.37M1.28M

Risk-Adjusted Performance

Risk-Return Positioning

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CEG and PNW are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Constellation Energy (CEG) and Pinnacle West Capital (PNW)
MetricCEGPNW
Sharpe Ratio (1Y)-0.561.16
Sortino Ratio (1Y)-0.781.77

Profitability

ROE (TTM)

Constellation Energy (CEG) at 15.06% sits in the top ROE quartile, while Pinnacle West Capital (PNW) at 9.09% is closer to the peer norm — stronger capital efficiency for CEG.

CEG

Utilities industry group

15.06%

Max
17.99%
CEG
15.06%
Q3
12.01%
Median
9.44%
Q1
7.56%
Min
2.17%

PNW

Utilities industry group

9.09%

Max
17.99%
Q3
12.01%
Median
9.44%
PNW
9.09%
Q1
7.56%
Min
2.17%
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their ROE against the Utilities industry group benchmark.

Net Margin (TTM)

Both Constellation Energy (CEG) at 11.08% and Pinnacle West Capital (PNW) at 11.59% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

CEG

Utilities industry group

11.08%

Max
28.78%
Q3
17.30%
Median
12.73%
CEG
11.08%
Q1
9.18%
Min
-0.20%

PNW

Utilities industry group

11.59%

Max
28.78%
Q3
17.30%
Median
12.73%
PNW
11.59%
Q1
9.18%
Min
-0.20%
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their net margin against the Utilities industry group benchmark.

Operating Margin (TTM)

Pinnacle West Capital (PNW) at 31.70% carries a top-quartile operating margin, while Constellation Energy (CEG) at 8.66% operates in the bottom quartile.

CEG

Utilities industry group

8.66%

Max
53.83%
Q3
31.12%
Median
23.62%
Q1
15.45%
CEG
8.66%
Min
-4.90%

PNW

Utilities industry group

31.70%

Max
53.83%
PNW
31.70%
Q3
31.12%
Median
23.62%
Q1
15.45%
Min
-4.90%
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their operating margin against the Utilities industry group benchmark.

Profitability Metrics

Profitability metrics for Constellation Energy (CEG) and Pinnacle West Capital (PNW)
MetricCEGPNW
ROE (TTM)15.06%9.09%
ROA (TTM)3.89%2.36%
Net Margin (TTM)11.08%11.59%
Operating Margin (TTM)8.66%31.70%
Gross Margin (TTM)22.11%43.84%

Growth

Revenue Growth

Both Constellation Energy (CEG) at 8.34% and Pinnacle West Capital (PNW) at 4.20% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their Revenue Growth across different time periods.

EPS Growth

Pinnacle West Capital (PNW) at -3.63% is around its peer norm for EPS growth, while Constellation Energy (CEG) at -37.76% drops into the bottom quartile, signaling weaker earnings momentum.

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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Constellation Energy (CEG) and Pinnacle West Capital (PNW)
MetricCEGPNW
Revenue Growth (YoY)8.34%4.20%
Revenue Growth (3Y CAGR)1.47%7.28%
EPS Growth (YoY)-37.76%-3.63%
EPS Growth (3Y CAGR)--5.83%

Financial Strength

Current Ratio (MRQ)

Pinnacle West Capital (PNW) at 0.71 keeps current ratio within its industry’s typical mid-range, while Constellation Energy (CEG) at 1.46 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

CEG

Utilities industry group

1.46

Max
1.90
CEG
1.46
Q3
1.17
Median
0.88
Q1
0.66
Min
0.29

PNW

Utilities industry group

0.71

Max
1.90
Q3
1.17
Median
0.88
PNW
0.71
Q1
0.66
Min
0.29
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their current ratio against the Utilities industry group benchmark.

Debt / Equity (MRQ)

Constellation Energy (CEG) at 0.76 keeps leverage in the lower quartile, while Pinnacle West Capital (PNW) at 2.26 sits in the higher-leverage quartile.

CEG

Utilities industry group

0.76

Max
2.63
Q3
1.77
Median
1.35
Q1
0.84
CEG
0.76
Min
0.00

PNW

Utilities industry group

2.26

Max
2.63
PNW
2.26
Q3
1.77
Median
1.35
Q1
0.84
Min
0.00
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their debt-to-equity ratio against the Utilities industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Constellation Energy (CEG) and Pinnacle West Capital (PNW)
MetricCEGPNW
Current Ratio (MRQ)1.460.71
Debt / Equity (MRQ)0.762.26
Net Debt / EBITDA3.027.67

Dividends

Dividend Yield (TTM)

Both Constellation Energy (CEG) at 0.68% and Pinnacle West Capital (PNW) at 3.51% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

CEG

Utilities industry group

0.68%

Max
6.66%
Q3
3.58%
Median
2.85%
CEG
0.68%
Q1
0.66%
Min
0.00%

PNW

Utilities industry group

3.51%

Max
6.66%
Q3
3.58%
PNW
3.51%
Median
2.85%
Q1
0.66%
Min
0.00%
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their dividend yield against the Utilities industry group benchmark.

Dividend Payout Ratio (TTM)

Pinnacle West Capital (PNW) at 68.42% keeps its payout within the industry’s typical band; Constellation Energy (CEG) at 15.92% pays out less than peers usually do, retaining more of its earnings — a policy difference more than a quality gap.

CEG

Utilities industry group

15.92%

Max
113.04%
Q3
68.72%
Median
56.38%
Q1
32.38%
CEG
15.92%
Min
0.00%

PNW

Utilities industry group

68.42%

Max
113.04%
Q3
68.72%
PNW
68.42%
Median
56.38%
Q1
32.38%
Min
0.00%
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their payout ratio against the Utilities industry group benchmark.

Dividend Metrics

Dividend metrics for Constellation Energy (CEG) and Pinnacle West Capital (PNW)
MetricCEGPNW
Dividend Yield (TTM)0.68%3.51%
Dividend Payout Ratio (TTM)15.92%68.42%

Valuation

P/E Ratio (TTM)

Pinnacle West Capital (PNW) at 19.59 is near its industry’s usual P/E ratio, while Constellation Energy (CEG) at 24.43 sits in the richer quartile — CEG needs stronger growth or earnings quality to justify the premium.

CEG

Utilities industry group

24.43

Max
31.22
CEG
24.43
Q3
23.30
Median
19.64
Q1
15.17
Min
3.34

PNW

Utilities industry group

19.59

Max
31.22
Q3
23.30
Median
19.64
PNW
19.59
Q1
15.17
Min
3.34
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their P/E ratio against the Utilities industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Constellation Energy (CEG) at 2.83 and Pinnacle West Capital (PNW) at 2.21 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

CEG

Utilities industry group

2.83

Max
6.35
Q3
3.63
CEG
2.83
Median
2.63
Q1
1.52
Min
0.00

PNW

Utilities industry group

2.21

Max
6.35
Q3
3.63
Median
2.63
PNW
2.21
Q1
1.52
Min
0.00
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Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their P/S ratio against the Utilities industry group benchmark.

P/B Ratio (MRQ)

Pinnacle West Capital (PNW) at 1.69 is valued about in line with its industry on P/B ratio, while Constellation Energy (CEG) at 2.78 carries an above-peer premium to book — CEG is pricier on assets.

CEG

Utilities industry group

2.78

Max
3.12
CEG
2.78
Q3
2.21
Median
1.83
Q1
1.46
Min
0.34

PNW

Utilities industry group

1.69

Max
3.12
Q3
2.21
Median
1.83
PNW
1.69
Q1
1.46
Min
0.34
Loading chart…
Constellation Energy (CEG) vs. Pinnacle West Capital (PNW): A comparison of their P/B ratio against the Utilities industry group benchmark.

Valuation Metrics

Valuation metrics for Constellation Energy (CEG) and Pinnacle West Capital (PNW)
MetricCEGPNW
P/E Ratio (TTM)24.4319.59
P/S Ratio (TTM)2.832.21
P/B Ratio (MRQ)2.781.69
Free Cash Flow Yield (TTM)-7.48%-7.90%