SWX

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Southwest Gas Holdings, Inc. Common Stock (DE)

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Key Metrics

Previous Close: $91.75
52-Week Range: $75.75 – $94.47
Market Cap: $6.61B
P/E (TTM): 23.47
EPS (TTM): 3.89
Dividend Yield: 2.81%

Advanced Metrics

Price/Book: 1.60
PEG Ratio: 2.24
Return on Equity: 6.83%
Return on Assets: 2.82%
Gross Margin: 54.03%
Operating Margin: 24.16%
Profit Margin: 31.40%
Current Ratio: 1.12
Debt/Equity: 0.85
Total Debt: $3.51B
Free Cash Flow: $-390.81M
Revenue Growth: -9.60%
Earnings Growth: —
Enterprise Value: $9.89B

SWX Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$4.96B	$2.53B	$2.48B	$1.94B
Cost of Revenue	$3.97B	$1.79B	$1.68B	$1.04B
Gross Profit	$994.87M	$748.42M	$798.53M	$898.68M
Selling, General & Admin	$263.00K	-$151.00K	$84.00K	-$7.67M
Operating Expenses	$564.10M	$384.06M	$392.14M	$417.13M
Operating Income	$430.76M	$364.36M	$406.39M	$481.55M
EBITDA	$439.87M	$659.68M	$763.76M	$864.68M
Pretax Income	-$273.34M	$169.40M	$254.14M	$330.87M
Income Tax	-$75.65M	$29.41M	$33.16M	$96.04M
Net Income	-$203.29M	$150.89M	$198.81M	$439.83M
Diluted EPS	-3.10	2.13	2.76	6.08
Diluted Shares	65.56M	70.99M	72.03M	72.34M

SWX Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$123.08M	$106.54M	$314.77M	$576.64M
Receivables	$963.08M	$981.48M	$299.61M	$281.81M
Inventory	—	—	$93.75M	$93.82M
Current Assets	$3.71B	$1.88B	$1.46B	$1.19B
Total Assets	$13.20B	$11.87B	$12.07B	$10.43B
Current Liabilities	$3.42B	$1.68B	$1.83B	$929.90M
Long-Term Debt	$4.40B	$4.61B	$3.50B	$3.43B
Total Debt	$5.99B	$5.28B	$4.18B	$3.51B
Total Liabilities	$9.98B	$8.46B	$8.38B	$6.47B
Retained Earnings	$747.07M	$738.84M	$758.65M	$1.02B
Shareholders' Equity	$3.06B	$3.31B	$3.50B	$3.96B
Working Capital	$284.70M	$196.27M	-$367.62M	$262.19M
Net Debt	$5.87B	$5.17B	$3.87B	$2.93B

SWX Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$407.46M	$509.21M	$1.36B	$556.08M
Capital Expenditure	-$859.42M	-$765.87M	-$846.59M	-$807.87M
Free Cash Flow	-$451.96M	-$256.66M	$509.19M	-$251.79M
Depreciation & Amortisation	$470.45M	$295.46M	$303.10M	$330.72M
Stock-Based Compensation	$9.45M	$6.23M	$11.37M	$14.63M
Investing Cash Flow	-$838.90M	$150.97M	-$921.57M	-$24.81M
Financing Cash Flow	$356.48M	-$700.79M	-$176.34M	-$318.28M
Dividends Paid	-$160.56M	-$174.57M	-$177.63M	-$178.51M
Net Change in Cash	-$74.96M	-$40.62M	$257.88M	$212.98M

SWX Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$746.42M	$1.12B	$316.91M	$480.74M	$585.12M
Cost of Revenue	$415.25M	$898.50M	$177.46M	$209.36M	$241.16M
Gross Profit	$331.17M	$221.87M	$139.45M	$271.38M	$343.96M
Selling, General & Admin	$107.00K	-$260.00K	-$2.09M	-$5.42M	—
Operating Expenses	$117.45M	$126.15M	$100.35M	$107.29M	$124.62M
Operating Income	$213.72M	$95.72M	$39.10M	$164.09M	$219.35M
EBITDA	$316.60M	$251.26M	$131.45M	$265.13M	$329.94M
Pretax Income	$168.50M	$42.27M	$3.37M	$129.81M	$184.59M
Income Tax	$34.21M	$52.59M	-$803.00K	$59.98M	$46.22M
Net Income	$113.87M	-$12.88M	$270.48M	$68.36M	$138.37M
Diluted EPS	1.58	-0.18	3.74	1.43	1.91
Diluted Shares	72.14M	72.09M	72.41M	72.55M	72.57M

SWX Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$406.30M	$355.63M	$778.63M	$576.64M	$484.75M
Receivables	$761.76M	$762.03M	$162.28M	$281.81M	$241.01M
Inventory	—	$90.78M	$91.15M	$93.82M	$93.66M
Current Assets	$1.43B	$1.43B	$1.24B	$1.19B	$1.06B
Total Assets	$12.08B	$12.21B	$10.33B	$10.43B	$10.41B
Current Liabilities	$1.81B	$1.41B	$804.70M	$929.90M	$729.96M
Long-Term Debt	$4.33B	$4.40B	$3.51B	$3.43B	$3.43B
Total Debt	$5.05B	$4.68B	$3.51B	$3.51B	$3.51B
Total Liabilities	$8.32B	$8.09B	$6.40B	$6.47B	$6.30B
Retained Earnings	$827.45M	$769.72M	$999.40M	$1.02B	$1.16B
Shareholders' Equity	$3.58B	$3.67B	$3.93B	$3.96B	$4.10B
Working Capital	-$374.62M	$10.58M	$438.79M	$262.19M	$327.72M
Net Debt	$4.64B	$4.33B	$2.73B	$2.93B	$3.02B

SWX Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$291.27M	$126.34M	$56.90M	$81.57M	$162.13M
Capital Expenditure	-$163.13M	-$244.49M	-$162.73M	-$237.51M	-$208.72M
Free Cash Flow	$128.13M	-$118.14M	-$105.83M	-$155.95M	-$46.59M
Depreciation & Amortisation	$93.69M	$137.39M	$10.63M	$89.02M	$99.60M
Stock-Based Compensation	$4.75M	$6.25M	-$1.01M	$4.64M	$4.47M
Investing Cash Flow	-$186.65M	-$209.37M	$611.20M	-$240.00M	-$203.63M
Financing Cash Flow	-$62.13M	$32.12M	-$244.72M	-$43.55M	-$50.40M
Dividends Paid	-$44.53M	-$44.61M	-$44.72M	-$44.65M	-$44.81M
Net Change in Cash	$42.49M	-$50.91M	$423.38M	-$201.99M	-$91.89M

Market Snapshot

About

Southwest Gas Holdings provides natural gas distribution services and related products and services. The company serves residential, commercial, and industrial customers in Arizona, Nevada, and California through its utility operations. It also provides pipeline construction and maintenance services through its infrastructure services segment.