Southwest Gas Holdings Inc SWX Stock Analysis
- NYSE
- Stock
- Market closed · opens Monday 9:30 AM ET
$87.45 up $1.25, 1.45% at close Oct 16
Last close · Previous close $86.20
- Market cap
- $6.33BAt the Oct 16 close
- P/E ratio
- 12.20On last 12 months’ EPS
- Diluted EPS
- $7.17Last 12 months
- Dividend yield
- 2.89%Last 12 months
Price chart
$87.45up $1.25, 1.45%Fri, Oct 16 session
Use the left and right arrow keys to move along the chart.
Price data
Trading
- Previous close$86.20Oct 15
- Volume669.55KOct 16 session
Shares traded on all US exchanges in the last completed session. Live intraday volume covers IEX only, so it is left out.
- Avg. volume790.84KLast 21 sessions
The average daily shares traded over the last 21 trading sessions, about one calendar month.
- 52-week range: $76.99 to $94.47; now $87.45
The lowest and highest trades over the past 52 weeks, adjusted for splits. The marker shows the latest price.
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
Performance
Past performance, measured to the Oct 16 close. Total return includes reinvested dividends.Price change only, without dividends. Compared with the S&P 500, using SPY.
SWX trailed the S&P 500 in all 7 periods.
| Period | SWX and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | SWX: up 0.8% S&P 500: up 1.5% | SWX trailed the S&P 500 by 0.7 percentage points Trailed |
| 3M | SWX: down 5.3% S&P 500: up 1.9% | SWX trailed the S&P 500 by 7.2 percentage points Trailed |
| YTD | SWX: up 11.6% S&P 500: up 12.8% | SWX trailed the S&P 500 by 1.2 percentage points Trailed |
| 1Y | SWX: up 16.1% S&P 500: up 16.8% | SWX trailed the S&P 500 by 0.7 percentage points Trailed |
| Long term | ||
| 3Y | SWX: up 63.5% S&P 500: up 81.5% +17.8% vs +22.0% a year | SWX trailed the S&P 500 by 18.0 percentage points Trailed |
| 5Y | SWX: up 51.0% S&P 500: up 83.1% +8.6% vs +12.9% a year | SWX trailed the S&P 500 by 32.1 percentage points Trailed |
| 10Y | SWX: up 79.0% S&P 500: up 319.6% +6.0% vs +15.4% a year | SWX trailed the S&P 500 by 240.6 percentage points Trailed |
$10,000 invested in SWX 10 years ago (Oct 14, 2016) would be worth about $17,903 at the close on , with dividends reinvested. The same amount in the S&P 500 would be worth about $41,964.
SWX trailed the S&P 500 in all 7 periods.
| Period | SWX and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | SWX: up 0.8% S&P 500: up 1.2% | SWX trailed the S&P 500 by 0.4 percentage points Trailed |
| 3M | SWX: down 5.9% S&P 500: up 1.7% | SWX trailed the S&P 500 by 7.6 percentage points Trailed |
| YTD | SWX: up 9.3% S&P 500: up 11.9% | SWX trailed the S&P 500 by 2.6 percentage points Trailed |
| 1Y | SWX: up 12.8% S&P 500: up 15.5% | SWX trailed the S&P 500 by 2.7 percentage points Trailed |
| Long term | ||
| 3Y | SWX: up 48.0% S&P 500: up 75.0% +14.0% vs +20.5% a year | SWX trailed the S&P 500 by 27.0 percentage points Trailed |
| 5Y | SWX: up 27.2% S&P 500: up 71.2% +4.9% vs +11.4% a year | SWX trailed the S&P 500 by 44.0 percentage points Trailed |
| 10Y | SWX: up 31.0% S&P 500: up 258.1% +2.7% vs +13.6% a year | SWX trailed the S&P 500 by 227.1 percentage points Trailed |
$10,000 invested in SWX 10 years ago (Oct 14, 2016) would be worth about $13,097 at the close on , not counting dividends. The same amount in the S&P 500 would be worth about $35,813.
All-time high
$94.14
Closing high on . Now 7.1% below that record.
Split-adjusted daily closes since Dec 30, 1987.
Stock splits
SWX hasn’t split since its price history begins in 1987.
Valuation
The Oct 16 close compared with the last 12 months of reported results (the four quarters to Jun 30, 2026). Tap a metric to see how it’s calculated.
Price-to-earnings (P/E)
12.2×The Oct 16 close ÷ diluted EPS over the last 12 months ($7.17)
The range covers daily P/E ratios from Oct 7, 2021 to Oct 16, 2026, each based on the previous 12 months of earnings.
SWX trades at 12.2× its earnings over the last 12 months, below its 5-year median of 27.2×. In plain terms, buyers are paying about $12 for each $1 of profit from the past year. How to read P/E
Other valuation measures
- 3.6×Last 12 months’ revenue
Market value divided by revenue over the last 12 months. Useful when earnings are small or negative.
P/S = Market cap ÷ Revenue (last 12 months)Price-to-sales ratio - 1.5×Book value as of Jun 30, 2026
Price relative to accounting equity (book value) per share on the Jun 30, 2026 balance sheet. Asset-light companies often trade far above book value.
P/B = Price ÷ Book value per sharePrice-to-book ratio - 8.7×Last 12 months’ EBITDA
Enterprise value divided by EBITDA over the last 12 months. It compares companies with different amounts of debt.
EV/EBITDA = Enterprise value ÷ EBITDA (last 12 months)EV/EBITDA explained - 0.06Last 12 months’ EPS growth
The P/E divided by the growth in diluted EPS over the last 12 months (+211.7% on the 12 months before). It looks backward: near 1 means the P/E roughly matches last year’s growth. Sites that use analysts’ growth forecasts show a different PEG.
PEG = P/E ÷ EPS growth (%) = 12.2 ÷ 211.7 - −7.63%Last 12 months’ free cash flow
Free cash flow over the last 12 months as a share of the company’s market value: the cash the business generated for each dollar of stock.
FCF yield = Free cash flow (last 12 months) ÷ Market capFree cash flow - $9.57BAt the Oct 16 close
What it would cost to buy the whole business: the market cap at the Oct 16 close, plus debt, minus cash and short-term investments from the Jun 30, 2026 balance sheet.
EV = Market cap + Debt − Cash and short-term investmentsEV/EBITDA explained
Build your own SWX DCF in Excel. Value Southwest Gas Holdings with your own growth and margin assumptions.Browse DCF models Free DCF calculator
Financials
Reported results, not forecasts. From company filings via Tiingo; the latest report is Q2 FY26, the quarter ended Jun 30, 2026. “Last 12 months” means the four quarters from Jul 1, 2025 to Jun 30, 2026, and balance-sheet figures are as of Jun 30, 2026.
Revenue and net income
Last 12 months, with the change from the 12 months before
- Revenue
- $1.74Bdown 15.3%
- Net income
- $519.34Mup 212.0%
- Diluted EPS
- $7.17up 211.7%
Data table
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| Q3 FY24 (Sep 30, 2024) | $359.13M | $289.00K | $0.00 |
| Q4 FY24 (Dec 31, 2024) | $553.06M | $92.46M | $1.28 |
| Q1 FY25 (Mar 31, 2025) | $746.42M | $113.87M | $1.58 |
| Q2 FY25 (Jun 30, 2025) | $396.32M | −$40.15M | −$0.56 |
| Q3 FY25 (Sep 30, 2025) | $316.91M | $270.48M | $3.74 |
| Q4 FY25 (Dec 31, 2025) | $480.74M | $68.36M | $0.94 |
| Q1 FY26 (Mar 31, 2026) | $585.12M | $138.37M | $1.91 |
| Q2 FY26 (Jun 30, 2026) | $358.15M | $42.12M | $0.58 |
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| FY21 (Dec 31, 2021) | $3.68B | $200.78M | $3.39 |
| FY22 (Dec 31, 2022) | $4.96B | −$203.29M | −$3.10 |
| FY23 (Dec 31, 2023) | $2.53B | $150.89M | $2.13 |
| FY24 (Dec 31, 2024) | $2.48B | $198.82M | $2.76 |
| FY25 (Dec 31, 2025) | $1.94B | $439.83M | $6.08 |
Margins
- Gross 48.5%
- Operating 28.7%
- Net 29.8%
The percentages above the chart cover the last 12 months; the lines show each quarter. What margins tell you
Cash flow
- −$482.67MLast 12 months
Cash from operations minus capital spending: the cash left after the business maintains and grows its assets.
FCF = Operating cash flow − Capital spendingFree cash flow - Operating cash flow$446.69MLast 12 months
- Capital spending$929.36MLast 12 months
- −27.7%Last 12 months
Free cash flow as a share of revenue, both over the last 12 months.
Shareholder returns
- $19.43MLast 12 months
Cash spent repurchasing shares, net of shares issued. Buybacks shrink the share count, so each remaining share owns more of the company.
- Dividends paid$180.88MLast 12 months
- Total returned$180.88MLast 12 months
Balance sheet
- $270.52MAs of Jun 30, 2026
Cash plus short- and long-term marketable securities on the Jun 30, 2026 balance sheet.
- Total debt$3.51BAs of Jun 30, 2026
- Net debt$3.24BAs of Jun 30, 2026
- 1.12As of Jun 30, 2026
Current assets divided by current liabilities on the Jun 30, 2026 balance sheet. Above 1 means short-term assets cover the bills due within a year.
Current ratio = Current assets ÷ Current liabilitiesCurrent ratio - 0.85As of Jun 30, 2026
Total debt divided by shareholders’ equity on the Jun 30, 2026 balance sheet: a measure of financial leverage.
D/E = Total debt ÷ Shareholders’ equityDebt-to-equity ratio
Financial strength
- 6 of 9Last 12 months
vs the 12 beforeA 0–9 checklist from accounting professor Joseph Piotroski. Each test compares the last 12 months with the 12 months before and scores a point if it passes. 8–9 is strong; 0–2 is weak.
- ✓Net income was positive: passed
- ✓Operating cash flow was positive: passed
- ✓Return on assets improved: passed
- ✗Operating cash flow exceeded net income: not passed
- ✓Long-term debt fell relative to assets: passed
- ✓Current ratio improved: passed
- ✗Share count didn’t rise: not passed
- ✓Gross margin improved: passed
- ✗Asset turnover (revenue ÷ assets) improved: not passed
- 12.9%Last 12 months
Over the last 12 months, Southwest Gas Holdings’s net income was 12.9% of its shareholders’ equity (averaged over the last four quarter-ends). It describes the past year, not an expected return.
ROE = Net income (last 12 months) ÷ Average equityReturn on equity - 5.0%Last 12 months
Over the last 12 months, Southwest Gas Holdings’s net income was 5.0% of its total assets (averaged over the last four quarter-ends): what the business earned on everything it owns.
ROA = Net income (last 12 months) ÷ Average total assets
Dividends
Cash dividends per share by ex-dividend year, adjusted for splits.
Dividends per share
Data table
| Year | Per share |
|---|---|
| 2016 | $1.76 |
| 2017 | $1.94 |
| 2018 | $2.06 |
| 2019 | $2.16 |
| 2020 | $2.26 |
| 2021 | $2.36 |
| 2022 | $2.46 |
| 2023 | $2.48 |
| 2024 | $2.48 |
| 2025 | $2.48 |
| 2026 (to date) | $1.91 |
Dividend details
- $2.53Per share, last 12 months
Cash dividends per share with ex-dividend dates in the last 12 months.
- 2.89%; 5-yr low 2.44%, 5-yr high 5.56%Last 12 months
Dividends paid over the last 12 months as a share of the Oct 16 close. The bar shows where that yield sits in its range over the past five years; the median was 3.36%.
- $0.65Ex-dividend
The most recent payment per share. Shares bought on or after the ex-dividend date don’t receive it.
- FrequencyQuarterly4 payments in the last 12 months
- up 1.9% a yearFull years 2020–2025
The compound annual growth rate of the full-year dividend per share from 2020 to 2025.
- 35.3%Last 12 months
The share of earnings paid out as dividends over the last 12 months. Lower ratios leave more room to reinvest or raise the dividend.
Payout = Dividends per share ÷ Diluted EPS (both last 12 months)Payout ratio calculator
About Southwest Gas Holdings Inc
Southwest Gas Holdings, Inc., through its primary operating subsidiary Southwest Gas Corporation, engages in the business of purchasing, distributing, and transporting natural gas for its customers. Southwest Gas Corporation is a dynamic energy company committed to exceeding the expectations of over 2 million customers in Arizona, Nevada, and California by providing safe, reliable, and affordable service while pursuing innovative sustainable energy solutions to fuel the growth in its communities. SOURCE Southwest Gas Holdings, Inc.
- Sector
- Utilities
- Industry
- Utilities - Regulated Gas
- Headquarters
- Nevada, USA
- SEC filings
- EDGAR (opens in a new tab)
- Exchange
- NYSE
- Asset type
- Common stock
- Price history since
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SWX stock FAQ
What is SWX stock’s price today?
Southwest Gas Holdings (SWX) traded at $87.45 at the close on , up $1.25 (1.45%) from the previous close of $86.20. Over the past 52 weeks it has traded between $76.99 and $94.47.
If you invested $1,000 in SWX 10 years ago, how much would you have now?
With dividends reinvested, $1,000 invested in SWX on would be worth about $1,790 at the close on , a total return of +79.0%. The same $1,000 would be worth $1,510 if invested five years ago, $1,161 if invested one year ago, $4,575 if invested 20 years ago, and $12,427 if invested 30 years ago. Past performance doesn’t predict future returns.
What is Southwest Gas Holdings’s market cap?
Southwest Gas Holdings’s market capitalization is about $6.3 billion. That’s Tiingo’s daily market cap for , at that day’s closing price of $87.45 (how market cap works). Southwest Gas Holdings reported 72.37M shares outstanding at the end of its latest quarter ().
What is SWX’s P/E ratio?
SWX trades at 12.2 times its diluted earnings over the four quarters to ($7.17 per share), at the close. Over the past five years its P/E has ranged from 11.3 to 39.8, with a median of 27.2. (How the P/E ratio works.)
How much revenue does Southwest Gas Holdings make?
Southwest Gas Holdings reported $1.7 billion of revenue over the four quarters to , down 15.3% from the twelve months before. In its latest quarter (Q2 FY26, ended ) revenue was $358.2 million, down 9.6% from a year earlier.
Is Southwest Gas Holdings profitable?
Yes. Southwest Gas Holdings earned $519.3 million of net income over the four quarters to , a net margin of 29.8%, and its operating margin was 28.7% (what margins tell you).
What are SWX’s earnings per share?
SWX’s diluted earnings per share were $7.17 over the four quarters to , compared with $2.30 in the twelve months before. The latest quarter (Q2 FY26) brought $0.58 per share, against −$0.56 a year earlier (how EPS works).
Does SWX pay a dividend?
Yes. Southwest Gas Holdings pays a quarterly dividend. The most recent was $0.65 per share, with an ex-dividend date of . Over the last twelve months it paid $2.53 per share, a 2.89% yield at the close (how dividend yield works).
Based on the last 12 months’ payments ($2.53 per share), and if the next 12 months match the last 12, 100 shares would receive about $253 over 12 months, and $1,000 over 12 months would take about 396 shares, roughly $34,630 at the close. Dividends can change.
What is SWX’s 52-week high and low?
Over the past 52 weeks SWX has traded as low as $76.99 and as high as $94.47. At $87.45 at the close on , it is 7.4% below that high and 13.6% above the low.
What is SWX’s all-time high?
SWX’s highest closing price was $94.14 on , adjusted for stock splits. At $87.45 at the close on , it is 7.1% below that record.
Has SWX stock ever split?
No. SWX hasn’t split since its price history begins in 1987.
How has SWX stock performed?
Including dividends and measured to the close on , SWX has returned +11.6% so far this year and +16.1% over the past year, and +51.0% over five years (+8.6% a year). Over the same periods the S&P 500, measured by SPY, returned +12.8%, +16.8% and +83.1%. Past performance doesn’t predict future returns.
What sector and industry is Southwest Gas Holdings in?
Southwest Gas Holdings is in the Utilities sector and the Utilities - Regulated Gas industry, and is headquartered in Nevada, USA.
What exchange does SWX trade on?
Southwest Gas Holdings trades on the NYSE under the ticker symbol SWX. Its price history on this dashboard begins on .
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
About this data. Data sourced by Tiingo (opens in a new tab). The live price is Tiingo’s real-time price, based on IEX trades and quotes; intraday charts show IEX trades, and volume figures are consolidated totals for completed sessions. Prices are split-adjusted, and total returns assume dividends are reinvested. Financials come from company filings and can lag new reports. Times are Eastern.
This page is for education, not investment advice. Past performance doesn't predict future returns. Logos provided by Logo.dev (opens in a new tab).
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