Southwest Gas Holdings, Inc. (SWX)
In fiscal 2025 capital spending exceeded operating cash flow by $251.8M. At June 30, 2026 it held $270.5M in cash against $3.5B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 4, 2026.
Key facts about Southwest Gas Holdings, Inc.
- Net worth
- Southwest Gas Holdings, Inc. has a market value (market cap) of $6.7B at the latest share price, and shareholders' equity of $4.1B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $1.9B (-21.6% year on year), with net income of $439.8M.
- Cash flow
- In fiscal 2025 operations brought in $556.1M of cash; after $807.9M of capital spending, free cash flow was -$251.8M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 4, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Southwest Gas Holdings, Inc.'s next report is expected around January 8, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Southwest Gas Holdings, Inc. declared dividends of $2.48 per share in fiscal 2025, a yield of 2.68% at the current price.
What Southwest Gas Holdings, Inc. does
Southwest Gas Holdings, Inc. is registered with the SEC under industry code SIC 4923 (Natural Gas Transmisison & Distribution). Its shares trade on NYSE under the ticker SWX.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $1.9B | $439.8M | $6.08 | -$251.8M |
| 2024 | $2.5B | $198.8M | $2.76 | $509.2M |
| 2023 | $5.4B | $150.9M | $2.13 | -$256.7M |
| 2022 | $5B | -$203.3M | -$3.10 | -$452M |
| 2021 | $3.7B | $200.8M | $3.39 | -$604.2M |
| 2020 | $3.3B | $232.3M | $4.14 | -$199M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where SWX ranks in Utilities
Dividends
Southwest Gas Holdings, Inc. declared $2.48 per share in fiscal 2025. At the current price that is a yield of 2.68%. It paid out $178.5M in cash dividends, 41% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $2.48 | $178.5M | 41% |
| 2024 | $2.48 | $177.6M | 89% |
| 2023 | $2.48 | $174.6M | 116% |
| 2022 | $2.48 | $160.6M | n/a |
| 2021 | $2.38 | $138.2M | 69% |
| 2020 | $2.28 | $125.5M | 54% |
Latest SEC filings
What Southwest Gas Holdings, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 4, 2026Quarterly report 10-Q · period to September 30, 2026
- November 4, 2026
- October 30, 2026Passive stake (5% or more) SCHEDULE 13G
- October 27, 2026Passive stake changed SCHEDULE 13G/A
- October 20, 2026
- August 5, 2026
- August 5, 2026
- June 25, 2026
- May 11, 2026
- May 8, 2026Activist stake changed SCHEDULE 13D/A
Insider trades
What the people running Southwest Gas Holdings, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $204.5K worth of shares in the last 90 days and bought none on the open market.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 28, 2026 | Williams Julie M.SVP/Cont. Improvement and Opt. | Sold | 2,500 | $204.5K |
| May 7, 2026 | Kim LeezieDirector | Received as pay | 1,196 | - |
| May 7, 2026 | Carson Molly R.Director | Received as pay | 1,196 | - |
| February 27, 2026 | Forsberg Justin SSVP/Chief Financial Officer | Shares withheld for tax | 520 | $41.6K |
| February 27, 2026 | Gabe Randall P.SVP/Chief Administrative OFC | Shares withheld for tax | 2,172 | $173.8K |
| February 27, 2026 | Brown Justin LPresident/Southwest Gas Corp. | Shares withheld for tax | 3,209 | $281.1K |
| February 27, 2026 | Brown Justin LPresident/Southwest Gas Corp. | Shares withheld for tax | 6,838 | $547.2K |
| February 27, 2026 | Mazzeo Catherine MSVP/Chief Legal/Comp. Officer | Shares withheld for tax | 544 | $43.5K |
Who owns SWX
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Fmr LLC13G, passive with 1 related filers | 7.8% | February 5, 2026 |
| Vanguard Portfolio Management13G, passive | 5.36% | April 29, 2026 |
| Vanguard Capital Management13G, passive | 5.13% | October 30, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 411 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 11,181,201 | +434,070 |
| Fmr LLC | 5,575,126 | +413,169 |
| Vanguard Portfolio Management LLC | 3,973,510 | +117,743 |
| Corvex Management LP | 3,208,538 | -1,109,623 |
| Vanguard Capital Management LLC | 3,047,616 | +39,317 |
| State Street Corp | 2,607,181 | +185,646 |
| Geode Capital Management, LLC | 2,086,964 | +378,958 |
| Maverick Capital Ltd | 1,889,558 | -237,369 |
| Aqr Capital Management LLC | 1,603,686 | +439,708 |
| Adage Capital Partners GP, L.L.C. | 1,354,517 | -120,483 |
| Channing Capital Management, LLC | 1,074,868 | -31,963 |
| Dimensional Fund Advisors LP | 1,058,783 | +4,033 |
| Principal Financial Group Inc | 985,861 | -85,932 |
| Gabelli Funds LLC | 950,843 | -15,246 |
| Norges Bank | 948,095 | new |
| Northern Trust Corp | 892,391 | +98,136 |
| Goldman Sachs Group Inc | 869,554 | +173,960 |
| River Road Asset Management, LLC | 865,242 | -38,508 |
| Bank of New York Mellon Corp | 838,118 | -8,133 |
| Fuller & Thaler Asset Management, Inc. | 800,855 | -28,779 |
Insiders
20 insiders reported holding 476,029 shares in total, about $44M at the last price.
| Holder | Shares |
|---|---|
| Haller Karen SPresident and CEO | 185,798 |
| Mariucci Anne LDirector | 50,100 |
| Stefani Robert JSVP/Chief Financial Officer | 28,444 |
| Brown Justin LPresident/Southwest Gas Corp. | 27,623 |
| Williams Julie M.SVP/Cont. Improvement and Opt. | 26,450 |
| Gabe Randall P.SVP/Chief Administrative OFC | 24,153 |
| Lewis-Raymond JaneDirector | 17,474 |
| Thornton Leslie TDirector | 17,201 |
| Mazzeo Catherine MSVP/Chief Legal/Comp. Officer | 16,150 |
| Timperley Amy L.SVP/Chief Reg. & Public Aff. | 15,118 |
Questions about SWX
What does Southwest Gas Holdings, Inc. do?
Southwest Gas Holdings, Inc. is a company in the Utilities sector, listed on NYSE as SWX. Its shares trade on NYSE under the ticker SWX.
What is Southwest Gas Holdings, Inc.'s net worth?
Southwest Gas Holdings, Inc. has a market value (market cap) of $6.7B at the latest share price, and shareholders' equity of $4.1B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Southwest Gas Holdings, Inc. profitable?
Yes. Over the twelve months to June 30, 2026 it reported net income of $546.6M.
When did Southwest Gas Holdings, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 4, 2026. It covers the period to September 30, 2026.
When is Southwest Gas Holdings, Inc.'s next earnings report?
Southwest Gas Holdings, Inc.'s next report is expected around January 8, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does Southwest Gas Holdings, Inc. pay a dividend?
Yes. Southwest Gas Holdings, Inc. declared dividends of $2.48 per share in fiscal 2025, a yield of 2.68% at the current price.
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Where the numbers come from
Financial figures are the values Southwest Gas Holdings, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.