Southwest Gas Holdings, Inc.
SWX · Natural Gas Transmisison & Distribution · 72.4M shares · +7%/yr ↑ shares · EDGAR filings ↗
Grade
C67Stable regulated natural-gas utility with mid-pack returns and heavy, rate-base-driven capex.
Strengths
- ROE 11.1% (64th pct) and ROA 4.2% (74th pct) with regulated earnings stability
- Solid cash position and runway
Risks
- Negative FCF (-$252M) from utility capex intensity (4.9 pct)
- Debt-to-equity 0.87 (73.7 pct)
- No standout metric; returns cluster near the regulated-utility norm
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
11.1%
Return on assets
4.2%
ROIC
5.1%
Revenue growth (QoQ)
-8.7%
Debt / equity
0.9×
Net debt / EBITDA
3.6×
Current ratio
1.3×
Free cash flow
-$252M
EBITDA
$805M
Tangible book value
$3.9B
Cash & investments
$577M
Cash runway
9q
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-11 | Shareholder vote | filing ↗ |
| 2026-05-05 | ResultsExhibits | filing ↗ |
| 2026-02-25 | Exec/director change | filing ↗ |
| 2026-02-25 | ResultsExhibits | filing ↗ |
| 2026-02-12 | 1.02 | filing ↗ |
| 2026-02-11 | Exec/director changeReg FD | filing ↗ |
| 2026-01-09 | ResultsNon-reliance/restatementReg FD | filing ↗ |
| 2026-01-02 | Exec/director changeReg FD | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-11 | 2026-05-07 | 0001692115-26-000090 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001692115-26-000088 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001692115-26-000086 ↗ |
| 8-K | 2026-02-25 | 2026-02-19 | 0001193125-26-071537 ↗ |
| 10-K | 2026-02-25 | 2025-12-31 | 0001692115-26-000062 ↗ |
| 8-K | 2026-02-25 | 2026-02-25 | 0001692115-26-000060 ↗ |
| 8-K | 2026-02-12 | 2026-02-11 | 0001193125-26-047540 ↗ |
| 8-K | 2026-02-11 | 2026-02-06 | 0001193125-26-045442 ↗ |
| 8-K | 2026-01-09 | 2026-01-09 | 0001692115-26-000004 ↗ |
| 8-K | 2026-01-02 | 2025-12-31 | 0001193125-26-000920 ↗ |
| 8-K | 2025-11-26 | 2025-11-26 | 0001193125-25-300528 ↗ |
| 8-K | 2025-11-05 | 2025-10-31 | 0001193125-25-266887 ↗ |