SWX Stock Analysis: Southwest Gas Holdings | NYSE
Utilities - Regulated Gas | NYSE, USA | Market Cap: 6.559m USD | 12M Return: 19.3% | US8448951025 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 62.7M
EPS Trend: 82.8%
Qual. Beats: 0
Rev. Trend: -92.9%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Southwest Gas Holdings, Inc. (NYSE: SWX) is the parent company of Southwest Gas Corporation, a regulated natural gas utility that purchases, distributes, and transports natural gas to residential, commercial, and industrial customers across Arizona, Nevada, and California. The company offers both tariff sales and transportation services and operates a pipeline transmission system that includes an LNG storage facility. As of December 31, 2025, it served approximately 2,281,000 customers across its three-state footprint, with the largest concentration in Arizona. The company was founded in 1931 and is headquartered in Las Vegas, Nevada.
Operating within the Gas Utilities sub-industry of the Utilities sector, SWXs business model is anchored in rate-regulated distribution and transmission infrastructure, which typically provides stable, predictable cash flows tied to authorized rate bases and customer growth in its service territories. Its pipeline and LNG storage assets also enable capacity-based and storage-service revenue, complementing its core regulated utility operations.
- Arizona and Nevada rate cases expand regulated return on equity
- Customer growth accelerates in Arizona and Nevada service territories
- Pipeline replacement capex drives higher rate base and depreciation expense
| Net Income: 261.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.09 > 0.02 and ΔFCF/TA -7.44 > 1.0 |
| NWC/Revenue: -4.95% < 20% (prev 10.96%; Δ -15.91% < -1%) |
| CFO/TA 0.05 > 3% & CFO 476.1m > Net Income 261.6m |
| Net Debt (3.48b) to EBITDA (876.2m): 3.97 < 3 |
| Current Ratio: 0.89 > 1.5 & < 3 |
| Outstanding Shares: last quarter (72.8m) vs 12m ago 0.58% < -2% |
| Gross Margin: 65.27% > 18% (prev 25.79%; Δ 39.48% > 0.5%) |
| Asset Turnover: 16.48% > 50% (prev 38.77%; Δ -22.28% > 0%) |
| Interest Coverage Ratio: 2.97 > 6 (EBIT TTM 528.8m / Interest Expense TTM 178.1m) |
| A: -0.01 (Total Current Assets 663.7m - Total Current Liabilities 749.0m) / Total Assets 10.6b |
| B: 0.11 (Retained Earnings 1.12b / Total Assets 10.6b) |
| C: 0.05 (EBIT TTM 528.8m / Avg Total Assets 10.4b) |
| D: 0.63 (Book Value of Equity 4.10b / Total Liabilities 6.46b) |
| Altman-Z'' = 1.30 = BB |
| DSRI: 2.47 (Receivables 172.5m/162.3m, Revenue 1.72b/4.00b) |
| GMI: 0.40 (GM 25.79% / 65.27%) |
| AQI: 1.47 (AQ_t 0.06 / AQ_t-1 0.04) |
| SGI: 0.43 (Revenue 1.72b / 4.00b) |
| TATA: -0.02 (NI 261.6m - CFO 476.1m) / TA 10.6b) |
| Beneish M = -2.50 (Cap -4..+1) = BBB |
As of November 07, 2026, the stock is trading at USD 91.33 with a total of 670,604 shares traded. Over the past week, the price has changed by -1.88%, over one month by +9.61%, over three months by -0.46% and over the past year by +19.26%.
Current recommended Stop Loss: 88.50 (which is 3.1% or 1.4 ATR below the current price).
Southwest Gas Holdings has received a consensus analysts rating of 4.80. Therefore, it is recommended to buy SWX.
- StrongBuy: 8
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 100.9 | 10.5% |
P/E Trailing = 22.017
P/E Forward = 18.5874
P/S = 3.8082
P/B = 1.6222
P/EG = 1.3283
Revenue TTM = 1.72b USD
EBIT TTM = 528.8m USD
EBITDA TTM = 876.2m USD
Long Term Debt = 3.50b USD (from longTermDebt, last quarter)
Short Term Debt = 32.5m USD (from shortTermDebt, last quarter)
Debt = 3.53b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.48b USD (calculated: Debt 3.53b - CCE 53.4m)
Enterprise Value = 10.0b USD (6.56b + Debt 3.53b - CCE 53.4m)
Interest Coverage Ratio = 2.97 (Ebit TTM 528.8m / Interest Expense TTM 178.1m)
EV/FCF = -10.91x (Enterprise Value 10.0b / FCF TTM -920.0m)
FCF Yield = -9.17% (FCF TTM -920.0m / Enterprise Value 10.0b)
FCF Margin = -53.42% (FCF TTM -920.0m / Revenue TTM 1.72b)
Net Margin = 15.19% (Net Income TTM 261.6m / Revenue TTM 1.72b)
Gross Margin = 65.27% ((Revenue TTM 1.72b - Cost of Revenue TTM 598.1m) / Revenue TTM)
Gross Margin QoQ = 93.25% (prev 89.27%)
Tobins Q-Ratio = 0.95 (Enterprise Value 10.0b / Total Assets 10.6b)
Interest Expense / Debt = 5.04% (Interest Expense 178.1m / Debt 3.53b)
Taxrate = 29.64% (110.9m / 374.0m)
NOPAT = 372.0m (EBIT 528.8m * (1 - 29.64%))
Current Ratio = 0.89 (Total Current Assets 663.7m / Total Current Liabilities 749.0m)
Debt / Equity = 0.86 (Debt 3.53b / totalStockholderEquity, last quarter 4.10b)
Debt / EBITDA = 3.97 (Net Debt 3.48b / EBITDA 876.2m)
Debt / FCF = -3.78 (negative FCF - burning cash) (Net Debt 3.48b / FCF TTM -920.0m)
Total Stockholder Equity = 4.07b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.50% (Net Income 261.6m / Total Assets 10.6b)
RoE = 6.42% (Net Income TTM 261.6m / Total Stockholder Equity 4.07b)
RoCE = 6.98% (EBIT 528.8m / Capital Employed (Equity 4.07b + L.T.Debt 3.50b))
RoIC = 3.80% (NOPAT 372.0m / Invested Capital 9.80b)
WACC = 5.02% (E(6.56b)/V(10.1b) * Re(5.81%) + D(3.53b)/V(10.1b) * Rd(5.04%) * (1-Tc(0.30)))
Discount Rate = 5.81% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 94.29 | Cagr: 0.50%
[DCF] Fair Price = unknown (Cash Flow -920.0m)
EPS Correlation: 82.76 | EPS CAGR: 10.30% | SUE: 0.27 | # QB: 0
Revenue Correlation: -92.86 | Revenue CAGR: -34.32% | SUE: -0.08 | # QB: 0
EPS current Quarter (2027-03-31): EPS=2.14 | Chg30d=-2.73% | Revisions=+0% | Analysts=5
EPS current Year (2026-12-31): EPS=4.27 | Chg30d=+0.38% | Revisions=+40% | GrowthEPS=+17.0% | GrowthRev=-45.5%
EPS next Year (2027-12-31): EPS=5.03 | Chg30d=+1.56% | Revisions=+50% | GrowthEPS=+17.8% | GrowthRev=+6.4%
[Analyst] Revisions Ratio: +50% (up=6, down=1)