SWXNYSE—63

Southwest Gas Holdings, Inc.

Natural Gas UtilitiesVerified

Southwest Gas Holdings, Inc. (SWX) is currently classified as Utilities within Natural Gas Utilities (Utilities). Classification confidence: 0.92 (verified market data). Capital structure on the latest snapshot: total assets 10,429,477,000 USD, total equity 3,961,119,000, short-term debt 75,000,000, long-term debt 3,433,012,000. Net cash position is approximately -2,931,367,000 USD. Profitability profile: revenue 0, gross profit 0, operating income 473,886,000, net income 439,826,000. Return on equity ~11.1%. Return on assets ~4.2%. Operating-cash-flow to net-income ratio is 1.26. Risk profile from automated assessment: liquidity risk medium, dilution risk medium. Flags: Net cash is negative after subtracting total debt.; Source documents mention dilution or offering risk..

30-day price · SWX(missing data)

No daily-bar history available from current data sources. Alternate source pending.

Profile

CompanySouthwest Gas Holdings, Inc.

ExchangeNYSE

TickerSWX

CIK0001692115

SICNatural Gas Transmisison & Distribution

SectorUtilities

BusinessUtilities

Industry groupUtilities

IndustryNatural Gas Utilities

AI analysis

Business. Southwest Gas Holdings, Inc. is classified under Utilities / Natural Gas Utilities and appears profitable on the latest normalized snapshot.

Classification. Classification confidence is 0.92 based on verified market data; matched terms: Natural Gas Utilities, Utilities, Utilities.

Key takeaways

Return on equity is about 11.1%.
Debt to equity is about 0.89x.

Financial snapshot

PeriodFY2025

CurrencyUSD

Revenue—

Gross profit—

Operating income$473.9M

Net income$439.8M

R&D—

SG&A—

D&A—

SBC$14.6M

Operating cash flow$556.1M

CapEx$807.9M

Free cash flow-$251.8M

Total assets$10.43B

Total liabilities—

Total equity$3.96B

Cash & equivalents$576.6M

Long-term debt$3.43B

Annual history (last 5)

PeriodRevenueOp IncomeNet IncomeFCF

FY2025—$473.9M$439.8M-$251.8M

FY2025——$336.4M—

FY2025——$73.7M—

FY2024—$483.8M$198.8M$409.9M

FY2025—$406.5M$198.8M$509.2M

PeriodGross %Op %Net %FCF %

FY2025————

FY2024————

FY2025————

PeriodAssetsEquityCashDebt

FY2025$10.43B$3.96B$576.6M—

FY2025—$3.89B——

FY2025—$3.65B——

FY2024$12.02B$3.50B$363.8M—

FY2025$12.07B$3.50B$314.8M—

PeriodOCFCapExFCFSBC

FY2025$556.1M$807.9M-$251.8M$14.6M

FY2025$474.5M———

FY2025$417.6M———

FY2024$1.36B$945.9M$409.9M$14.9M

FY2025$1.36B$846.6M$509.2M$11.4M

Quarterly history (last 4)

PeriodRevenueOp IncomeNet IncomeFCF

Q3 2025—$315.2M$371.5M-$95.8M

Q2 2025—$295.9M$101.0M$10.0M

Q3 2025————

Q1 2025—$200.4M$113.9M$103.8M

PeriodGross %Op %Net %FCF %

Q3 2025————

Q2 2025————

Q3 2025————

Q1 2025————

PeriodAssetsEquityCashDebt

Q3 2025$10.33B$3.93B$778.6M—

Q2 2025$12.21B$3.67B$355.6M—

Q3 2025—$4.12B——

Q1 2025$12.08B$3.58B$406.3M—

PeriodOCFCapExFCFSBC

Q3 2025$474.5M$570.4M-$95.8M$10.0M

Q2 2025$417.6M$407.6M$10.0M$11.0M

Q3 2025————

Q1 2025$291.3M$187.5M$103.8M$6.3M

Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book—

Net cash-$2.93B

Current ratio1.3

Debt/Equity0.9

ROA4.2%

ROE11.1%

Cash conversion1.3%

CapEx/Revenue—

SBC/Revenue—

Asset intensity—

Dilution ratio0.2%

Risk assessment

Dilution riskMedium

Liquidity riskMedium

Net cash is negative after subtracting total debt.
Source documents mention dilution or offering risk.

Industry benchmarks

Activity: Utilities · cohort 10 companies

MetricSWXActivity

Op margin—23.0% medp25 18.0% · p75 24.5%

Net margin—12.8% medp25 9.6% · p75 14.9%

Gross margin—36.3% medp25 36.3% · p75 36.3%

R&D / revenue—144.6% medp25 144.6% · p75 144.6%

CapEx / revenue—36.1% medp25 30.7% · p75 43.6%

Debt / equity89.0%106.3% medp25 83.9% · p75 133.8%below median

Observations

IR observations

market data ESG controversies score100.0

market data ESG governance pillar76.0

market data ESG social pillar49.9

market data insider trading score4.0

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

SEC filingstype companyfacts · CIK 0001692115 · 429 us-gaap concepts

data.sec.gov/CIK0001692115.json

2026-05-01 12:46 UTC#49a4d3c6

Source: analysis-pipeline (hybrid)Generated: 2026-05-01 12:46 UTCJob: 25bfc06d