Southwest Gas Holdings, Inc.
SWX · Price history
Price at last available close
$92.49
+$10.62 (+12.97%) 1M
2026-10-28
Tap or drag sideways to inspect a price. Use two fingers to compare automatically. Release to scroll. Use Shift + arrow keys to compare with a keyboard.
Company & revenue
About Southwest Gas Holdings, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Southwest Gas Holdings, Inc., operating through its various subsidiaries, is primarily engaged in the delivery and transportation of natural gas to customers across Arizona, Nevada, and California. The company's operations are segmented into Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage. Beyond its core gas services, it also offers specialized utility infrastructure support, including trenching, the installation and replacement of subterranean pipelines, and ongoing maintenance for energy distribution networks.
How they make money
Southwest Gas Holdings, Inc. operates as a regulated utility holding company. It generates revenue primarily through the distribution and transportation of natural gas to residential, commercial, and industrial customers, with rates set by state regulatory commissions, and through interstate pipeline and storage services.
Products & services
Natural gas distribution, interstate natural gas pipeline transportation, and natural gas storage services.
Brands & revenue mix
The primary brand for the company's regulated natural gas distribution operations.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
The company does not have a single customer that accounts for 10% or more of its consolidated revenues as of the fiscal year ended December 31, 2025.
Suppliers, materials & equipment
- Natural gas producers and marketers — Suppliers of natural gas commodity for distribution to end-use customers.Source
Strengths
- Regulated utility business model providing stable cash flowsSource
Sources
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly revenue fell 68.0% versus the same quarter last year.
Check comparable business scope and currency, then separate volume, pricing and divestitures. One weaker quarter does not establish that the same decline will continue.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
34
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
45
Weak
Financial Strength
58
Business Quality / Moat
37
Management
74
Growth Quality
0
Risk / Durability
36
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
22
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
29/100
Building Historical Record
Model Score 29/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
No strong positive signal is being highlighted from the currently available summary data.
- •Elevated debt risk
- •M&A headline · Aug 22, 2026
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Asset quality is a weaker factor
Company-specific research
Questions worth answering for SWX
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •What is driving SWX's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
- •How long can SWX fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Is SWX's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify SWX's current valuation?
- •What does the current fundamental change risk warning mean for the reliability or interpretation of SWX's score?
Essential Investment Snapshot
Wall Street Score
34
Opportunity Score
22
Market Cap
$6.70B
P/E Ratio
12.7
EPS
$7.18
52-Week High
$94.47
52-Week Low
$76.99
Beta
0.56
Intrinsic Value
$61.03
Analyst Target
$103.00
Shares Outstanding
72.3M
Total Revenue
$1.74B
Total Debt
$3.51B
Reported Dividend Yield
2.70%
Liquidation Value / Share
$57.03
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Building upward momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for SWX
Detected from reported data — verify before acting.Dividend history reported
The provider reports a dividend yield. Confirm the latest declaration before treating it as a current payment.
Elevated debt risk
Total debt is at least one year of revenue • Free cash flow is negative • Cash covers less than 20% of total debt
M&A headline · Aug 22, 2026
11,181,201 Shares in Southwest Gas Corporation $SWX Acquired by BlackRock Inc. — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
Defense WorldCommunity Sentiment
0 active · 0 total callsNo personal call yet on SWX.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Regulated utility business model providing stable cash flows.
Potential downside factors
- −Debt risk (elevated): Total debt is at least one year of revenue.
- −Free cash flow is negative.
- −Cash covers less than 20% of total debt.
- −Regulatory risk regarding rate recovery and authorized returns.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
4 historical score records availablePrevious Score
34
Oct 22, 2026
Change
-0.2
points
Current Score
34
Oct 23, 2026
Category Changes
SWX decreased 0.2 points because Capital declined by 2 points.
Negative Contributors
- − Capital declined by 2 points
Projected Score
Projected Score
33
Projected Change
-1.4 points
Preliminary comparable-period financial changes suggest decline of approximately 1.4 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$92.49
Model Intrinsic Value
$61.03
Difference
+$31.46
+51.5% vs IV
Margin of Safety
-51.5%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Large reported revenue change: -62.0%
Revenue changed sharply from 2024 to 2025. This can reflect a real business change, acquisition, divestiture, discontinued operations, restatement, or reporting-basis change. Compare the underlying filing before treating it as normal growth or decline.
TTM may combine quarters from before and after the event, so its trend can also be distorted.
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $466.8M | $1.94B | $5.11B | $5.43B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | -$190.9M | $1.37B | $4.10B | $4.41B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $657.7M | $568.0M | $1.01B | $1.02B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $133.9M | $0.00 | $84K | -$151K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $176.0M | $94.1M | $527.4M | $600.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $791.4M | $864.7M | $976.8M | $930.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $481.7M | $473.9M | $483.8M | $418.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $149.0M | $203.1M | $297.0M | $292.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $387.9M | $330.9M | $241.3M | $197.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $71.4M | $96.0M | $36.5M | $41.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $519.3M | $439.8M | $198.8M | $150.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $7.18 | $6.09 | $2.77 | $2.13 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 72.52M | 72.16M | 71.84M | 70.79M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 72.67M | 72.34M | 72.03M | 70.99M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$358.2M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.58
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-25.1%
Cash Change
-23.9%
Margin Change
+12.9 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Debt reduced
What Weakened
- Cash position declined
Potential Score Impact
Positive indicators included debt levels, net income margin. Pressure indicators included revenue growth, EPS growth, cash levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 68.0%. EPS declined 422.2%. Cash declined 23.9%. Total debt declined 25.1%. Net income margin improved by 12.9 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
9
Smart Money
9
Number of Gurus
1
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
A dividend is reported, but detailed payment history is temporarily unavailable or awaiting refresh.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
4 historical recordsHistorical Score Chart
3 of 4 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Regulated GasNews
Southwest Gas (SWX) Reports Next Week: Wall Street Expects Earnings Growth
Southwest Gas Holdings, Inc. to Report Third Quarter 2026 Results on November 4, 2026
First Citizens Bank & Trust Co. Sells 6,606 Shares of Southwest Gas Corporation $SWX
Southwest Gas Holdings Declares Fourth Quarter 2026 Dividend
Rumor Mill · SWX
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
Related Stock Research
Continue researching this company with related Wall Street Score rankings and investing guides.
Score Alerts
Premium unlocks alerts when a score rises, falls, or reaches your target price.
Start 7-Day Free TrialPortfolio Score
Premium unlocks portfolio scoring, strongest and weakest holdings, and overall margin of safety.
Start 7-Day Free Trial