A Business at a Glance
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The Company, a Delaware corporation, is a holding company headquartered in Las Vegas, Nevada, owning all of the shares of common stock of Southwest Gas and, until the Centuri IPO on April 22, 2024, all of the shares of common stock of Centuri. The Company operated two reportable segments until August 2025, the Natural Gas Distribution segment (Southwest Gas) and Utility Infrastructure Services segment (Centuri). After the deconsolidation of Centuri in August 2025, the business is solely comprised of the Natural Gas Distribution segment. The Company is incorporated in Delaware, and Southwest Gas is incorporated in California. The Company, through its operating wholly-owned subsidiary Southwest Gas, engages in the business of purchasing, distributing, and transporting natural gas for its customers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 1.9B | 5.1B | 5.4B | 5.0B | 3.7B |
| Net Income | 440M | 440M | 199M | 151M | -203M | 201M |
| EPS | $6.08 | $6.08 | $2.76 | $2.13 | $-3.10 | $3.39 |
| Free Cash Flow | -252M | -252M | 509M | -257M | -452M | -604M |
| ROIC | 5.6% | 5.0% | 5.0% | 2.8% | -0.3% | 4.3% |
| Gross Margin | 51.9% | 51.9% | 52.8% | 51.8% | 49.0% | 46.9% |
| Debt/Equity | 0.89 | 0.89 | 1.20 | 1.60 | 1.96 | 2.14 |
| Dividends/Share | $2.47 | $2.48 | $2.48 | $2.48 | $2.48 | $2.38 |
| Operating Income | 474M | 474M | 406M | 293M | -24M | 370M |
| Operating Margin | 24.4% | 24.4% | 8.0% | 5.4% | -0.5% | 10.0% |
| ROE | 11.1% | 11.8% | 5.7% | 4.7% | -6.8% | 7.1% |
| Shares Outstanding | 72M | 72M | 72M | 71M | 66M | 59M |
Southwest Gas Holdings, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
Southwest Gas Holdings, Inc. trades at 15.0x trailing earnings, compared to its 15-year median P/E of 16.1x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 3.4% with a gross margin of 50.5%. Total shareholder yield (dividends) is 2.7%. At current prices, the estimated annualized return to fair value is +20.1%.
Southwest Gas Holdings, Inc. (SWX) has a current P/E ratio of 15.0, compared to its historical median P/E of 16.1. The stock is currently considered Fair based on its historical valuation range.
Southwest Gas Holdings, Inc. (SWX) has a 5-year average return on invested capital (ROIC) of 3.4%. This is below average and may indicate limited pricing power.
Southwest Gas Holdings, Inc. (SWX) has a market capitalization of $6.6B. It is classified as a mid-cap stock.
Yes, Southwest Gas Holdings, Inc. (SWX) pays a dividend with a trailing twelve-month yield of 2.70%.
Based on historical P/E analysis, Southwest Gas Holdings, Inc. (SWX) appears fair. The current P/E of 15.0 is 7% below its historical median of 16.1. The estimated fair value CAGR (P/E method) is -4.4%.
Southwest Gas Holdings, Inc. (SWX) operates in the Natural Gas Transmisison & Distribution industry, within the Utilities sector.
Southwest Gas Holdings, Inc. (SWX) reported annual revenue of $1.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
Southwest Gas Holdings, Inc. (SWX) has a net profit margin of 22.7%. This is a strong margin indicating high profitability.
Southwest Gas Holdings, Inc. (SWX) generated $-252 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Southwest Gas Holdings, Inc. (SWX) has a debt-to-equity ratio of 0.89. This indicates moderate leverage.
Southwest Gas Holdings, Inc. (SWX) reported earnings per share (EPS) of $6.08 in its most recent fiscal year.
Southwest Gas Holdings, Inc. (SWX) has a return on equity (ROE) of 11.8%. This indicates moderate shareholder returns.
Southwest Gas Holdings, Inc. (SWX) has a 5-year average gross margin of 50.5%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 11 years of financial data for Southwest Gas Holdings, Inc. (SWX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Southwest Gas Holdings, Inc. (SWX) has a book value per share of $54.76, based on its most recent annual SEC filing.