(SWX) Southwest Gas Holdings - Overview
Stock: Natural Gas, Installation Services, Maintenance Services, Utility Infrastructure
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 3.28% |
| Yield on Cost 5y | 6.03% |
| Yield CAGR 5y | 1.30% |
| Payout Consistency | 97.0% |
| Payout Ratio | 1.6% |
| Risk 5d forecast | |
|---|---|
| Volatility | 21.3% |
| Relative Tail Risk | -3.56% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.48 |
| Alpha | 4.40 |
| Character TTM | |
|---|---|
| Beta | 0.327 |
| Beta Downside | 0.390 |
| Drawdowns 3y | |
|---|---|
| Max DD | 18.31% |
| CAGR/Max DD | 0.66 |
Description: SWX Southwest Gas Holdings January 10, 2026
Southwest Gas Holdings Inc. (NYSE:SWX) distributes and transports natural gas to residential, commercial, and industrial customers across Arizona, Nevada, and California through its Natural Gas Distribution and Utility Infrastructure Services segments. The company’s core activities include tariff-based gas sales, transportation services, and the installation, repair, and maintenance of energy distribution systems, as well as gas-construction projects throughout North America. Founded in 1931 and headquartered in Las Vegas, Nevada, SWX operates under a regulated utility model that ties earnings to approved rates and cost-of-service filings.
Key operating metrics (FY 2023) show a regulated rate base of roughly $6.2 billion, a customer base of ~2.2 million, and a system average interruption duration index (SAIDI) of 45 minutes-well below the industry average of 120 minutes, indicating strong reliability. Revenue growth is modestly linked to regional population expansion (≈1.5% annual growth in the Southwest) and seasonal heating demand, while the company’s capital-intensive infrastructure projects are driven by state-mandated pipeline upgrades and the broader shift toward natural gas as a transitional fuel in the power-generation mix.
For a deeper quantitative view, the ValueRay platform offers granular financial metrics and scenario analysis to help you assess SWX’s risk-adjusted upside.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income: 463.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -5.87 > 1.0 |
| NWC/Revenue: 10.96% < 20% (prev -5.51%; Δ 16.47% < -1%) |
| CFO/TA 0.07 > 3% & CFO 676.0m > Net Income 463.9m |
| Net Debt (2.73b) to EBITDA (987.1m): 2.76 < 3 |
| Current Ratio: 1.55 > 1.5 & < 3 |
| Outstanding Shares: last quarter (72.4m) vs 12m ago 0.44% < -2% |
| Gross Margin: 25.79% > 18% (prev 0.20%; Δ 2560 % > 0.5%) |
| Asset Turnover: 36.07% > 50% (prev 37.81%; Δ -1.74% > 0%) |
| Interest Coverage Ratio: 2.10 > 6 (EBITDA TTM 987.1m / Interest Expense TTM 266.8m) |
Altman Z'' 1.10
| A: 0.04 (Total Current Assets 1.24b - Total Current Liabilities 804.7m) / Total Assets 10.33b |
| B: 0.10 (Retained Earnings 999.4m / Total Assets 10.33b) |
| C: 0.05 (EBIT TTM 561.1m / Avg Total Assets 11.10b) |
| D: 0.16 (Book Value of Equity 1.04b / Total Liabilities 6.40b) |
| Altman-Z'' Score: 1.10 = BB |
Beneish M -4.00
| DSRI: 0.25 (Receivables 162.3m/728.4m, Revenue 4.00b/4.49b) |
| GMI: 0.77 (GM 25.79% / 19.79%) |
| AQI: 0.38 (AQ_t 0.04 / AQ_t-1 0.11) |
| SGI: 0.89 (Revenue 4.00b / 4.49b) |
| TATA: -0.02 (NI 463.9m - CFO 676.0m) / TA 10.33b) |
| Beneish M-Score: -4.32 (Cap -4..+1) = AAA |
What is the price of SWX shares?
Over the past week, the price has changed by +0.53%, over one month by +2.82%, over three months by +6.43% and over the past year by +13.00%.
Is SWX a buy, sell or hold?
- StrongBuy: 3
- Buy: 0
- Hold: 4
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the SWX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 91.7 | 10.1% |
| Analysts Target Price | 91.7 | 10.1% |
| ValueRay Target Price | 92.9 | 11.5% |
SWX Fundamental Data Overview February 03, 2026
P/E Forward = 20.5761
P/S = 1.2857
P/B = 1.5184
P/EG = 2.0583
Revenue TTM = 4.00b USD
EBIT TTM = 561.1m USD
EBITDA TTM = 987.1m USD
Long Term Debt = 3.51b USD (from longTermDebt, last quarter)
Short Term Debt = 710.0m USD (from shortTermDebt, last fiscal year)
Debt = 3.51b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.73b USD (from netDebt column, last quarter)
Enterprise Value = 8.71b USD (5.98b + Debt 3.51b - CCE 778.6m)
Interest Coverage Ratio = 2.10 (Ebit TTM 561.1m / Interest Expense TTM 266.8m)
EV/FCF = -66.71x (Enterprise Value 8.71b / FCF TTM -130.5m)
FCF Yield = -1.50% (FCF TTM -130.5m / Enterprise Value 8.71b)
FCF Margin = -3.26% (FCF TTM -130.5m / Revenue TTM 4.00b)
Net Margin = 11.59% (Net Income TTM 463.9m / Revenue TTM 4.00b)
Gross Margin = 25.79% ((Revenue TTM 4.00b - Cost of Revenue TTM 2.97b) / Revenue TTM)
Gross Margin QoQ = 44.00% (prev 19.80%)
Tobins Q-Ratio = 0.84 (Enterprise Value 8.71b / Total Assets 10.33b)
Interest Expense / Debt = 1.40% (Interest Expense 49.0m / Debt 3.51b)
Taxrate = 15.11% (36.5m / 241.3m)
NOPAT = 476.3m (EBIT 561.1m * (1 - 15.11%))
Current Ratio = 1.55 (Total Current Assets 1.24b / Total Current Liabilities 804.7m)
Debt / Equity = 0.89 (Debt 3.51b / totalStockholderEquity, last quarter 3.93b)
Debt / EBITDA = 2.76 (Net Debt 2.73b / EBITDA 987.1m)
Debt / FCF = -20.91 (negative FCF - burning cash) (Net Debt 2.73b / FCF TTM -130.5m)
Total Stockholder Equity = 3.67b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.18% (Net Income 463.9m / Total Assets 10.33b)
RoE = 12.64% (Net Income TTM 463.9m / Total Stockholder Equity 3.67b)
RoCE = 7.82% (EBIT 561.1m / Capital Employed (Equity 3.67b + L.T.Debt 3.51b))
RoIC = 5.78% (NOPAT 476.3m / Invested Capital 8.25b)
WACC = 4.93% (E(5.98b)/V(9.49b) * Re(7.12%) + D(3.51b)/V(9.49b) * Rd(1.40%) * (1-Tc(0.15)))
Discount Rate = 7.12% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 0.34%
Fair Price DCF = unknown (Cash Flow -130.5m)
EPS Correlation: -28.75 | EPS CAGR: -44.25% | SUE: -4.0 | # QB: 0
Revenue Correlation: -42.42 | Revenue CAGR: -27.97% | SUE: -2.70 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.11 | Chg30d=+0.135 | Revisions Net=+1 | Analysts=4
EPS next Year (2026-12-31): EPS=4.13 | Chg30d=+0.028 | Revisions Net=+1 | Growth EPS=+13.6% | Growth Revenue=-38.1%