Southwest Gas Corporation SWX

82.44 1.06 1.30% as of 25 Sep
Market cap
$5.9B
P/E
10.7×
Growth Flags show if company had growth for consecutive years

Insider Decisions

Total sells 0.25
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — 1 — — — — — — — —
Insider Ownership 0.75%

Capital & Financial Ratios

Market Cap 5,900.00
Revenue 1,740.92
Net Income 544.09
Free Cash Flow (527.84)
Net Debt 3,239.34
Current Ratio 1.12
Debt/Equity 0.85
P/E ratio 10.75
P/S ratio 3.43
P/B ratio 1.45
Past 5Y EPS Growth (6.87%)
This Y EPS Growth 16.58%
Next Y EPS Growth 15.94%
Next 5Y EPS Growth 17.33%
in millions of $

Dividends

Payout Ratio 1.03
Annual Dividend Rate 2.48
Annual Dividend Yield 9.72%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.55
0.62
0.65
0.65
2025 2.48
0.62
0.62
0.62
0.62
2024 2.48
0.62
0.62
0.62
0.62
2023 2.48
0.62
0.62
0.62
0.62
2022 2.46
0.60
0.62
0.62
0.62
2021 2.36
0.57
0.60
0.60
0.60
2020 2.26
0.55
0.57
0.57
0.57
2019 2.16
0.52
0.55
0.55
0.55
2018 2.06
0.50
0.52
0.52
0.52
2017 1.94
0.45
0.50
0.50
0.50
2016 1.76
0.41
0.45
0.45
0.45
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 107 315 577 271
Receivables 888 203 180 131
Inventory — 94 94 96
Other 114 97 102 52
1,881 1,464 1,192 868
2023 2024 2025 Q'26
Payables 347 191 226 116
ST’ Debt 671 680 75 100
Other 571 183 185 188
1,685 1,832 930 777
in millions of $

Compound Annual Growth

10y 5y 3y
Sales (2.36%) (10.07%) (26.86%)
Cash Flow 0.07% (2.34%) 10.92%
Earnings 12.26% 13.62% 0.00%
Book Value 9.54% 8.17% 9.00%

Revenue

Mar Jun Sep Dec Year
’26 585 358 — — —
’25 746 396 317 481 1,940
’24 1,581 1,182 359 — 2,475
’23 1,603 1,294 1,169 — 2,535
’22 1,267 1,146 1,126 1,421 4,960
’21 886 821 889 1,084 3,680
’20 836 757 791 914 3,299
in millions of $ · fiscal quarters ending in the months shown
value withheld pending a data check

Operating Cash Flow

Mar Jun Sep Dec Year
’26 162 146 — — —
’25 291 126 57 82 556
’24 544 307 304 201 1,356
’23 (186) 198 186 311 509
’22 187 77 40 104 407
’21 (52) 54 50 60 111
’20 272 104 113 138 626
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 (47) (174) — — —
’25 128 (68) (151) (156) (246)
’24 344 83 105 (1) 531
’23 (405) (22) (40) 209 (257)
’22 24 (128) (205) (143) (452)
’21 (205) (132) (119) (149) (604)
’20 61 (109) (96) (54) (199)
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 1.91 0.58 — — —
’25 1.58 (0.18) 3.74 1.43 6.08
’24 1.22 0.25 0.00 1.28 2.76
’23 0.67 0.40 0.04 1.01 2.13
’22 1.58 (0.10) (0.18) (4.18) (3.10)
’21 2.03 0.43 (0.19) 1.15 3.39
’20 1.31 0.68 0.32 1.82 4.14
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1.1
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
53.51 72.32 62.54 73.27 45.68 57.00 59.51 53.79 57.55 64.69

Analyst estimates 2026–2028

Powerpack
Low Price
79.58 86.87 85.97 92.94 81.62 73.54 95.62 68.03 80.29 83.23
High Price
2,247 2,285 2,312 2,295 2,272 2,286 2,351 2,371 2,435 2,453
Employees
1 1 1 1 1 2 2 1 1 1
Revenue/Emp
2,460 2,549 2,880 3,120 3,299 3,680 4,960 2,535 2,475 1,940
Revenue
83.86% 86.07% 85.44% 87.65% 89.61% 88.29% 83.89% 50.56% 53.54% 74.35%
Gross Margin
232 259 243 273 305 247 (273) 169 254 331
EBT
9.41% 10.16% 8.45% 8.74% 9.24% 6.71% (5.51%) 6.68% 10.27% 17.05%
EBT Margin
153 194 182 217 239 207 (198) 156 205 435
Net Income
289 251 249 303 332 371 470 295 303 331
Depreciation
51.83 53.14 58.28 57.52 58.91 62.23 75.66 35.81 34.45 26.89
Revenue/Sh
3.20 4.04 3.69 3.94 4.15 3.39 (3.10) 2.13 2.77 6.09
Earnings/Sh
12.65 7.71 10.70 9.22 11.18 1.88 6.22 7.19 18.87 7.71
Cash Flow/Sh
(11.16) (13.00) (15.50) (17.29) (14.73) (12.10) (13.11) (10.82) (11.49) (11.12)
Capex/Sh
1.50 (5.29) (4.80) (8.07) (3.55) (10.22) (6.89) (3.63) 7.39 (3.42)
Free CF/Sh
35.00 37.79 45.56 46.20 47.77 49.94 46.66 46.76 51.24 54.89
Book Value/Sh
47 48 49 54 56 59 66 71 72 72
Shares
23.88 19.69 20.79 19.18 14.71 20.42 0.00 29.92 25.53 12.16
PE Ratio
1.47 1.50 1.31 1.32 1.03 1.13 0.82 1.79 2.05 2.98
PS Ratio
2.18 2.11 1.68 1.64 1.27 1.40 1.32 1.37 1.38 1.46
PB Ratio
2.11 2.28 2.08 2.16 1.88 2.78 2.00 3.83 3.62 4.49
EV/Sales
73.25 (22.94) (25.26) (15.41) (31.14) (16.95) (21.94) (37.82) 16.87 (35.32)
EV/FCF
601 370 529 500 626 111 407 509 1,356 556
Op' Cash Flow
(530) (624) (766) (938) (825) (716) (859) (766) (825) (803)
Capex
71 (254) (237) (438) (199) (604) (452) (257) 531 (246)
FCF
(95) (159) (99) (220) (41) (1,497) 285 196 (368) 262
Working Cap'
1,600 2,038 2,292 2,675 2,880 6,322 5,991 5,281 4,184 3,508
Total Debt
1,572 1,995 2,207 2,625 2,796 6,099 5,868 5,174 3,870 2,931
Net Debt
1,661 1,812 2,252 2,506 2,675 2,954 3,059 3,310 3,681 3,961
Sh' Equity
2.78% 3.28% 2.68% 2.76% 2.75% 1.87% (1.57%) 1.20% 1.66% 3.91%
ROA
6.10% 5.63% 5.01% 4.53% 4.83% 2.55% (0.17%) 2.16% 3.36% 4.30%
ROIC
9.35% 11.16% 8.97% 8.99% 8.97% 7.13% (6.76%) 4.74% 5.69% 11.51%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Southwest Gas Corporation peers in Utilities Regulated Gas

All 15 Utilities Regulated Gas stocks →

Southwest Gas Corporation (SWX) key facts

  • Southwest Gas Corporation (SWX) is an Utilities Regulated Gas company in the Utilities sector, listed on the New York Stock Exchange.
  • As of September 25, 2026, SWX traded at $82.44, a market capitalization of $5.9 billion.
  • Southwest Gas Corporation pays an annual dividend of $2.48 per share, a yield of 9.72%, with a payout ratio of 103.4%.
  • Return on equity was 11.5% and debt-to-equity 0.85.

Source: company filings (standardised) and stockrow calculations.

Southwest Gas Corporation (SWX) Latest News

News by impact score

Fine-tune

24 Sep

4

Southwest Gas Holdings, SWX, is pursuing aggressive infrastructure investments to boost safety, reliability, and service across its regulated gas-distribution networks. For 2026, SWX plans about $1.25 billion in capex—$925 million in Utility operations and $325 million for the Great Basin 2028 Expansion—within a $6.3 billion plan for 2026–2030. The company targets 9.5–11.5% annual rate-base growth and 12–14% annual adjusted EPS growth through 2030. In the first half of 2026 SWX spent about $520 million on modernization and expansion. The Great Basin 2028 project adds roughly 1 Bcf/d of contracted demand, with interest for 1.8 Bcf/d (2029–2035); capex for the project is about $2.3 billion, with potential annual incremental margin of $270–$300 million after completion. Regulatory recovery and these expansions could support rate-base growth and SWX's long-run trajectory. Zacks notes improving earnings estimates, lower debt-to-capital, and a Buy rating. Multi-billion-dollar capex and the Great Basin expansion, supported by regulatory recovery, could materially boost SWX's rate-base growth and earnings trajectory.

23 Sep

3

Southwest Gas (SWX) has fallen 6.3% over four weeks amid selling pressure. The stock sits in oversold territory with an RSI around 26.7, signaling a potential reversal as supply and demand realign. The downside appears overextended, creating a possible entry point for a rebound. On the fundamentals side, sell-side analysts have, on balance, raised earnings estimates for the year by a small amount in the past month, a factor often linked to near-term price strength. SWX carries a Zacks Rank #2 (Buy), placing it among the top stocks based on earnings revisions and surprises. The piece notes both technical and fundamental signals that could support a short-term uptick, though RSI limitations and broader market factors remain important caveats. Oversold RSI and modest EPS revisions imply potential near-term rebound.

5 Sep

4

Southwest Gas (SWX) increased its pipeline investment by $600 million. Additional $600 million pipeline commitment constitutes a major capital outlay likely to reshape financial trajectory and investor view of growth strategy.

12 Aug

3 transcript

Southwest Gas (SWX) released Q2 2026 earnings results during its conference call. Quarterly earnings calls typically influence short-term stock sentiment through results and guidance.

9 Aug

3 transcript

Southwest Gas reported Q2 revenue of $1.1B and EPS of $0.45, with management noting higher operating costs and pipeline investments while maintaining full-year guidance amid regulatory reviews in key states. Quarterly results and guidance updates supply fresh financial data that can shift near-term valuation without altering long-term business model.

5 Aug

3 transcript

Southwest Gas Holdings, Inc. summarized its Q2 2026 earnings call. Q2 earnings updates moderately influence investor views on company trajectory.

3

Southwest Gas Holdings Inc (SWX) reported strong Holdco performance during its Q2 2026 earnings call. Strong Holdco performance points to moderate influence on Southwest Gas Corporation future trajectory without major strategic shifts.

3

Southwest Gas Holdings reported second quarter 2026 financial results and reaffirmed full-year 2026 guidance. Quarterly results with reaffirmed guidance update financial performance outlook without signaling major strategic shifts.

29 Jul

3

Southwest Gas (SWX) is projected to exceed earnings estimates, prompting questions over possible stock price gains. Earnings beat expectations can drive short-term stock moves and sentiment shifts for Southwest Gas.

25 Jun

3

OGS reports improved performance from customer growth and strategic investments. Customer growth plus investments point to moderate ongoing effects on operations and results.

12 Jun

3

Southwest Gas Corporation benefits from its regulated business structure and ongoing strategic investments that support stable operations and growth. Regulated structure and strategic investments support moderate operational stability and incremental growth without transformative shifts.

6 Jun

4

Southwest Gas plans US$6.3 billion grid upgrade with accompanying EPS revisions as investors evaluate effects on company outlook and performance. US$6.3 billion grid upgrade constitutes major capital investment and strategic shift with direct effects on infrastructure spending and earnings trajectory.

17 May

4

Icahn exits Southwest Gas, shifting focus to board reset and strategic review at the utility. Icahn exit forces board overhaul and strategy shift with major implications for SWX direction.

13 May

4

Activist investor Carl C. Icahn expresses strong interest in Southwest Gas Holdings (SWX), highlighting the gas utility as a favorable investment amid potential strategic opportunities. Icahn's interest signals potential activist involvement that could drive major strategic shifts and significantly boost SWX stock sentiment.

8 May

4

Southwest Gas evaluates oversubscribed pipeline project and pending rate cases relative to its current valuation. Oversubscribed pipeline and rate cases signal major strategic and regulatory opportunities to enhance revenue growth and reshape valuation.

5 May

3

Southwest Gas Corporation (SWX) Q1 earnings beat analyst estimates despite a year-over-year revenue decline. Earnings beat provides moderate boost to financial performance and investor sentiment, offset by revenue decline.

3

Southwest Gas Corporation topped Q1 earnings estimates, reporting stronger-than-expected results driven by solid performance in its natural gas distribution segments. Beating Q1 earnings estimates signals solid financial performance and boosts short-term investor sentiment without fundamentally altering long-term trajectory.

3

Southwest Gas Holdings, Inc. reported first quarter 2026 financial results and affirmed full-year 2026 and long-term guidance. Quarterly earnings with affirmed guidance moderately influences financial performance and investor sentiment.

24 Mar

3

Icahn Enterprises recently acquired $78 million in additional Centuri shares, but the core developments originated earlier, potentially impacting Southwest Gas Holdings. Icahn's expanded stake in the Centuri spinoff exerts moderate activist influence on Southwest Gas's strategy and market perception.

20 Mar

4

Rising customer base and strategic investments drive positive performance for Southwest Gas Corporation (SWX). Customer expansion and strategic investments represent major drivers of SWX's future growth and market performance.

28 Feb

4

Southwest Gas Corporation released Q4 earnings call highlights, detailing financial performance, strategic updates, and future outlook. Q4 earnings call highlights cover financial results, guidance, and strategic initiatives that significantly influence Southwest Gas's trajectory and investor sentiment.

27 Feb

4

Southwest Gas Holdings (SWX) beat earnings expectations, hiked its dividend, and completed a CEO transition, prompting a fresh valuation assessment. Earnings beat and dividend hike signal financial strength and boost investor sentiment, while CEO transition introduces strategic potential.

26 Feb

4

Southwest Gas Corporation targets 14% annual growth through 2030 despite missing recent earnings expectations. Ambitious 14% growth target through 2030 represents a major strategic commitment that could significantly boost long-term investor sentiment despite the earnings miss.

4

Southwest Gas Holdings, Inc. released Q4 2025 earnings call summary detailing financial results, operational updates, and forward guidance. Q4 earnings call summary reveals financial performance and guidance that significantly shape investor expectations and stock trajectory.

3

Southwest Gas Corporation's fourth-quarter earnings and revenues missed analyst estimates. Q4 earnings and revenue misses highlight weaker financial results, moderately affecting investor sentiment and short-term stock performance.

25 Feb

4

Southwest Gas Holdings Inc (SWX) highlighted strong financial performance in Q4 2025 earnings call, covering key metrics and outlook. Strong Q4 2025 earnings results drive significant positive shifts in investor sentiment and company trajectory.

4 transcript

Southwest Gas Corporation (SWX) released its Q4 2025 earnings call transcript, detailing financial results, operational updates, and forward guidance. Q4 2025 earnings transcript discloses financial performance and strategic outlook that significantly impact SWX's future trajectory and market sentiment.

4

Southwest Gas Holdings announces CEO succession plan to ensure leadership continuity. CEO succession signals major leadership transition with potential to reshape strategic direction and investor confidence.

3

Southwest Gas Corporation (SWX) reported Q4 earnings and revenue below analyst estimates. Missing Q4 earnings and revenue estimates highlights financial underperformance with moderate effects on investor sentiment and stock trajectory.

3

Southwest Gas Holdings, Inc. reported fourth quarter and full-year 2025 financial results. Q4 and full-year 2025 financial results disclosure affects key financial metrics and investor sentiment without transformative changes.

stockrow.com/SWX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com