Southwest Gas Holdings, Inc.

SWX

Southwest Gas Holdings, Inc.

SWX

Insider Sentiment (TTM):

Last Purchase:2025-09-10Last Sale:2026-01-09Shares Purchased (TTM):24Shares Sold (TTM):1,503,028

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:62,432,413Shares Outstanding:72,441,000Institutional Ownership Pct.:86.18%

Earnings Market Reaction:

Filing Date:2026-08-05Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Public Utilities Property…
Public Utilities Property Plant And Equipment Accu…	-3,155	-3,113	-3,063	-3,025	-2,984	-2,953	-2,914	-2,937	-2,897	-2,864	-2,823	-2,780
Public Utilities Property Plant And Equipment Cons…	360	260	237	231	201	176	179	243	226	245	201	273
Public Utilities Property Plant And Equipment Net	9,064	8,807	8,691	8,496	8,349	8,213	8,109	7,958	7,788	7,634	7,518	7,385
Assets Current
Cash And Cash Equivalents At Carrying Value	271	485	577	779	356	406	315	457	600	458	107	105
Accounts Receivable Net Current	119	169	171	111	705	694	203	673	796	843	887	903
Income Taxes Receivable	13	6	10	-	6	6	0	7	10	7	2	4
Deferred Gas Cost	0	0	5	0	0	7	14	9	40	199	553	687
Materials Supplies And Other	96	94	94	91	91	-	94	-	-	-	-	-
Assets Held For Sale Not Part Of Disposal Group Cu…	-	-	-	-	-	-	0	0	0	0	21	24
Prepaid Expense And Other Assets Current	319	238	235	211	217	257	141	261	240	215	219	230
Assets Of Disposal Group Including Discontinued Op…	-	-	0	0	-	-	601	-	-	-	-	-
Assets Current	868	1,058	1,192	1,243	1,425	1,432	1,464	1,455	1,732	1,780	1,881	1,998
Assets Noncurrent
Goodwill	11	11	11	11	787	781	11	788	786	787	790	787
Deferred Income Tax Assets Net	-	-	-	-	0	0	3	3	2	1	0	0
Other Assets Noncurrent	351	354	357	406	484	478	396	478	442	432	414	411
Disposal Group Including Discontinued Operation As…	-	-	0	0	-	-	1,927	-	-	-	-	-
Assets Noncurrent Other Than Noncurrent Investment…	362	365	368	417	1,270	1,259	2,334	1,268	1,230	1,221	1,204	1,198
Assets	10,475	10,407	10,429	10,329	12,214	12,076	12,073	11,875	11,985	11,888	11,870	11,836
Liabilities And Stockhold…
Capitalization Longterm D…
Common Stock Value	74	74	74	74	74	74	73	73	73	73	73	73
Additional Paid In Capital Common Stock	2,906	2,901	2,899	2,893	2,873	2,727	2,721	2,715	2,710	2,547	2,542	2,540
Accumulated Other Comprehensive Income Loss Net Of…	-10	-34	-35	-38	-41	-49	-49	-44	-46	-46	-44	-44
Retained Earnings Accumulated Deficit	1,156	1,160	1,023	999	770	827	759	711	755	782	739	669
Stockholders Equity	4,125	4,102	3,961	3,929	4,116	3,751	3,504	3,455	3,493	3,356	3,310	3,239
Minority Interest	-	-	0	0	441	173	177	177	174	-	0	-
Redeemable Noncontrolling Interest Equity Carrying…	-	-	0	0	8	8	8	8	8	8	105	145
Long Term Debt Noncurrent	3,410	3,434	3,433	3,507	4,397	4,328	3,504	4,382	5,064	4,649	4,610	5,236
Capitalization Longterm Debt And Equity	7,535	7,536	7,394	7,436	8,520	8,087	7,194	8,022	8,738	8,013	8,025	8,619
Liabilities Current
Long Term Debt Current	100	75	75	-	28	29	0	30	31	43	43	42
Short Term Borrowings	-	-	0	0	260	690	680	663	111	644	629	58
Accounts Payable Current	116	122	226	119	255	253	191	227	264	265	347	255
Contract With Customer Liability Current	67	68	67	67	67	66	64	61	57	53	48	47
Accrual For Taxes Other Than Income Taxes Current	52	79	54	59	51	87	59	64	64	97	58	76
Interest Payable Current	35	38	35	39	40	39	36	45	37	40	37	47
Deferred Gas Purchases Current	287	248	310	356	349	289	255	189	121	-	0	-
Dividends Payable Current	0	0	45	45	-	-	45	-	-	-	-	-
Other Liabilities Current	121	100	117	113	361	347	119	422	408	577	523	527
Liabilities Of Disposal Group Including Discontinu…	-	-	0	8	-	-	383	-	-	-	0	0
Liabilities Current	777	730	930	805	1,415	1,807	1,832	1,703	1,096	1,719	1,685	1,053
Other Liabilities Noncurr…
Other Accrued Liabilities Noncurrent	513	504	496	490	486	479	472	465	463	457	458	454
Deferred Credits And Other Liabilities Noncurrent	610	615	632	692	866	866	701	894	896	915	950	968
Liabilities Of Disposal Group Including Discontinu…	-	-	0	0	-	-	1,017	-	-	-	-	-
Other Liabilities Noncurrent	2,163	2,141	2,105	2,088	2,279	2,182	3,047	2,150	2,151	2,156	2,161	2,164
Liabilities And Stockholders Equity	10,475	10,407	10,429	10,329	12,214	12,076	12,073	11,875	11,985	11,888	11,870	11,836
Common Stock Par Or Stated Value Per Share	1	1	1	1	1	1	1	1	1	1	1	1
Common Stock Shares Authorized	120	120	120	120	120	120	120	120	120	120	120	120
Common Stock Shares Issued	72	72	72	72	72	72	72	72	72	72	72	72
Shares Outstanding	72	72	72	72	72	72	72	72	72	72	72	72

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-7.30%	-2.22%	0.08%	-	-	-	-	-	-	-	-	-
2025	2.78%	6.85%	12.56%	2.93%	0.67%	5.64%	5.95%	3.03%	5.91%	-4.01%	4.50%	1.45%
2024	3.22%	-6.37%	0.93%	4.91%	7.51%	6.12%	6.99%	-3.70%	0.85%	-0.31%	-2.32%	-7.57%
2023	-	-	-	-6.97%	-9.59%	-14.74%	3.07%	8.26%	1.55%	6.92%	9.56%	16.77%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	1.12	1.45	1.28	1.55	1.01	0.79	0.80	0.85	1.58	1.04	1.12	1.90
Quick Ratio	0.71	1.12	1.03	1.28	0.85	0.65	0.72	0.70	1.36	0.91	0.99	1.68
Working Capital	90.52M	327.72M	262.19M	438.79M	10.58M	-374.62M	-367.62M	-247.35M	635.45M	61.29M	196.27M	945.96M
Leverage & Debt
Debt to Equity	0.19	0.18	0.23	0.20	0.35	0.50	0.52	0.47	0.30	0.51	0.51	0.32
Interest Coverage TTM	2.70	2.25	1.98	1.72	1.50	1.75	1.54	1.35	1.52	1.54	1.43	-0.03
Debt Ratio	0.07	0.07	0.09	0.08	0.12	0.15	0.15	0.14	0.09	0.14	0.14	0.09
Efficiency & Turnover
Asset Turnover TTM	0.12	0.16	0.17	0.07	0.07	0.14	0.21	0.38	0.44	0.46	0.43	0.54
Days Sales Outstanding TTM	108.74	88.49	35.14	176.03	320.57	170.96	80.33	64.08	59.65	58.89	58.87	45.47
Receivables Turnover TTM	3.36	4.12	10.39	2.07	1.14	2.13	4.54	5.70	6.12	6.20	6.20	8.03
Per Share Metrics
Diluted EPS TTM	7.55	6.46	6.08	6.00	2.28	3.05	2.76	2.48	2.53	2.68	2.13	-2.82
Free Cash Flow Per Share TTM	-6.52	-5.13	-2.72	-0.58	7.83	14.49	17.23	18.67	5.08	-6.52	-16.88	-18.03
Dividend Per Share TTM	3.72	3.70	3.71	3.70	3.70	4.32	4.33	4.32	4.28	4.25	4.27	3.68
Margin Metrics
Gross Profit Margin TTM	-	-	-	-	-190.25%	-47.99%	2.43%	47.05%	54.37%	53.26%	51.83%	59.96%
Operating Profit Margin TTM	36.11%	26.95%	24.42%	56.64%	51.86%	28.16%	16.42%	8.90%	8.30%	8.15%	7.70%	-0.12%
Net Profit Margin TTM	39.68%	26.36%	22.67%	53.47%	19.22%	13.43%	8.03%	3.98%	3.44%	3.56%	2.78%	-3.00%
Growth Metrics
Net Revenue Growth (1Y)	61.76%	8.44%	-21.61%	-81.90%	-83.87%	-69.68%	-54.45%	-33.53%	-21.02%	-17.55%	-12.74%	46.09%
Net Income Growth (1Y)	233.92%	112.93%	121.22%	143.44%	-9.79%	14.30%	31.76%	-188.01%	-183.52%	-176.00%	-174.22%	-240.46%
EPS Growth (1Y)	231.95%	111.67%	120.24%	142.33%	-10.10%	13.84%	29.83%	-187.69%	-183.17%	-172.34%	-168.74%	-231.70%
Valuation Metrics
P/E TTM	11.64	13.23	12.85	12.65	31.45	22.42	24.21	27.91	25.86	26.18	27.17	-19.30
P/B TTM	1.55	1.51	1.43	1.40	1.26	1.38	1.37	1.37	1.28	1.50	1.24	1.21
P/S TTM	4.62	3.49	2.91	6.76	6.05	3.01	1.94	1.11	0.89	0.93	0.75	0.58
Market Cap	6.39B	6.21B	5.65B	5.50B	5.17B	4.94B	4.81B	4.98B	4.71B	5.05B	4.10B	3.91B
Enterprise Value	9.63B	9.23B	8.58B	8.22B	9.50B	9.58B	8.68B	9.60B	9.32B	9.92B	9.27B	9.14B
Calculated Values
Free Cash Flow TTM	-472.69M	-371.33M	-196.61M	-42.09M	564.37M	1.04B	1.24B	1.34B	364.98M	-467.35M	-1.19B	-1.29B
Net Debt	3.24B	3.02B	2.93B	2.73B	4.33B	4.64B	3.87B	4.62B	4.61B	4.88B	5.17B	5.23B
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-01-09Sale

Owner: Brown, Justin L

Title: President/Southwest Gas Corp.

Shares: 3,028

Price/Share: $81.08

Value: $245,510.24

Shares Owned: 6,320

Relationship: Officer

Ownership: Direct

2025-09-25Sale

Owner: Icahn, Carl C, Icahn Part…

Title: -

Shares: 1,500,000

Price/Share: $77.91

Value: $116,865,000.00

Shares Owned: 6,032,604

Relationship: TenPercentOwner

Ownership: Indirect

2025-09-10Purchase

Owner: Sandoval, Brian E

Title: -

Shares: 24

Price/Share: $78.57

Value: $1,885.68

Shares Owned: 1,562

Relationship: Director

Ownership: Direct

2025-06-27Sale

Owner: Stefani, Robert J

Title: SVP/CFO/Controller

Shares: 7,000

Price/Share: $75.00

Value: $525,000.00

Shares Owned: 24,665

Relationship: Officer

Ownership: Direct

2025-03-28Sale

Owner: Stefani, Robert J

Title: SVP/Chief Financial Officer

Shares: 2,000

Price/Share: $72.55

Value: $145,100.00

Shares Owned: 31,665

Relationship: Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-01-09	Brown, Justin L	Officer	President/Southwest Gas Corp.	Direct	Sale	3,028	81.08	$245,510.24	6,320	4
2025-09-25	Icahn, Carl C, Icahn Part…	TenPercentOwner	-	Indirect	Sale	1,500,000	77.91	$116,865,000.00	6,032,604	4
2025-09-10	Sandoval, Brian E	Director	-	Direct	Purchase	24	78.57	$1,885.68	1,562	4
2025-06-27	Stefani, Robert J	Officer	SVP/CFO/Controller	Direct	Sale	7,000	75.00	$525,000.00	24,665	4
2025-03-28	Stefani, Robert J	Officer	SVP/Chief Financial Officer	Direct	Sale	2,000	72.55	$145,100.00	31,665	4
2025-03-24	Icahn, Carl C, Icahn Part…	TenPercentOwner	-	Indirect	Sale	2,100,000	74.60	$156,660,000.00	7,532,604	4
2024-11-19	Icahn, Partners Lp, Icahn…	TenPercentOwner	-	Indirect	Sale	1,390,000	76.74	$106,668,600.00	9,632,604	4
2024-08-27	Stefani, Robert J	Officer	SVP/Chief Financial Officer	Direct	Sale	10,233	72.56	$742,506.48	33,205	4
2024-05-13	Brown, Justin L	Officer	President/Southwest Gas Corp.	Direct	Sale	2,625	76.50	$200,812.50	23,830	4
2023-12-27	Daily, Paul M	Officer	CEO/Centuri Group, Inc.	Direct	Sale	1,000	63.80	$63,800.00	58,377	4
2023-09-27	Icahn, Carl C, Icahn Part…	TenPercentOwner	-	Indirect	Purchase	1,400	62.00	$86,800.00	11,022,604	4
2023-09-25	Icahn, Partners Lp, Icahn…	TenPercentOwner	-	Indirect	Purchase	600	62.00	$37,200.00	11,016,668	4
2023-09-11	Icahn, Partners Master Fu…	TenPercentOwner	-	Indirect	Purchase	61,702	61.48	$3,793,438.96	10,928,190	4
2023-06-02	Icahn, Partners Lp, Icahn…	TenPercentOwner	-	Indirect	Purchase	487	57.99	$28,241.13	10,844,681	4
2023-05-26	Icahn, Partners Lp, Icahn…	TenPercentOwner	-	Indirect	Purchase	27,803	57.87	$1,608,959.61	10,835,029	4
2023-05-24	Icahn, Partners Master Fu…	TenPercentOwner	-	Indirect	Purchase	15,681	57.98	$909,184.38	10,610,217	4
2023-03-28	Icahn, Partners Lp, Icahn…	TenPercentOwner	-	Indirect	Purchase	55,154	61.00	$3,364,394.00	10,520,600	4
2023-03-23	Icahn, Carl C, Icahn Part…	TenPercentOwner	-	Indirect	Purchase	407,466	60.11	$24,492,781.26	10,213,070	4
2023-03-17	Icahn, Partners Lp, Icahn…	TenPercentOwner	-	Indirect	Purchase	156,302	60.11	$9,395,313.22	9,688,006	4
2023-03-14	Icahn, Carl C, Icahn Part…	TenPercentOwner	-	Indirect	Purchase	237	60.12	$14,248.44	9,483,487	4
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Institutional Ownership

No data available for chart

2026-03-31

86.18%

Inst. Shares: 62,432,413

Shares Outstanding: 72,441,000

2025-12-31

90.09%

Inst. Shares: 65,007,558

Shares Outstanding: 72,162,000

2025-09-30

88.71%

Inst. Shares: 64,054,718

Shares Outstanding: 72,209,000

2025-06-30

89.64%

Inst. Shares: 64,621,615

Shares Outstanding: 72,088,000

2025-03-31

87.55%

Inst. Shares: 63,045,503

Shares Outstanding: 72,012,000

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	62,432,413	72,441,000	86.18%
2025-12-31	65,007,558	72,162,000	90.09%
2025-09-30	64,054,718	72,209,000	88.71%
2025-06-30	64,621,615	72,088,000	89.64%
2025-03-31	63,045,503	72,012,000	87.55%
2024-12-31	64,321,849	71,841,000	89.53%
2024-09-30	63,454,426	71,880,000	88.28%
2024-06-30	65,649,525	71,839,000	91.38%
2024-03-31	64,990,667	71,728,000	90.61%
2023-12-31	52,932,234	70,787,000	74.78%
2023-09-30	50,453,599	71,626,000	70.44%
2023-06-30	50,303,555	71,536,000	70.32%
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Southwest Gas Holdings, Inc. (SWX) — SEC Financial Statements & Analysis

Southwest Gas Holdings, Inc. (SWX) is a natural gas transmisison & distribution company, incorporated in DE. Southwest Gas Holdings, Inc. trades on NYSE as: SWX. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), Southwest Gas Holdings, Inc. reported a 61.76% year-over-year revenue growth, a Gross Profit Margin of -190.25% (TTM), a Debt-to-Equity ratio of 0.19x, a Price-to-Sales (P/S) ratio of 4.62x (TTM), a Price-to-Book (P/B) ratio of 1.55x (TTM), at a market cap of $6.39B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 61.76%
Gross Profit Margin TTM: -190.25%
Debt To Equity: 0.19x
P/S TTM: 4.62x
P/B TTM: 1.55x
Market Cap: $6.39B

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Southwest Gas Holdings, Inc. in?

Southwest Gas Holdings, Inc. (SWX) operates in the Natural Gas Transmisison & Distribution industry.

What is SWX's market cap?

Southwest Gas Holdings, Inc. (SWX) has a market capitalization of $6.39B as of 2026-06-30.

What is SWX's P/E ratio?

Southwest Gas Holdings, Inc. (SWX)'s trailing twelve month P/E ratio is 11.64x as of 2026-06-30.

What exchange does SWX trade on?

Southwest Gas Holdings, Inc. (SWX) trades on the NYSE.

Where is Southwest Gas Holdings, Inc. incorporated?

Southwest Gas Holdings, Inc. is incorporated in DE.