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SWX · NYSE · United States · Natural Gas Transmisison & Distribution
In shortSouthwest Gas Holdings, Inc. is profitable.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | – | n/a |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | – | n/a |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 11.8% | 59/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 4.5% | 30/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.28× | 40/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.89× | 62/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 3.64× | 10/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.43 | 9/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | – | n/a |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | -0.57× | 0/100 |
| Years with positive free cash flow (last 5) | 1 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 4 of 5 | 80/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 3 | 100/100 |
| Revenue growth volatility | 14.0% | 59/100 |
| Operating margin volatility | 5.3% | 61/100 |
Weight in the score: 20%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 3,680 | 4,960 | 5,434 | – | – |
| Cost of revenue | 1,955 | 2,529 | 2,617 | 2,415 | – |
| Gross profit | 1,725 | 2,431 | 2,817 | – | – |
| Operating income | 370 | (24) | 293 | 406 | 474 |
| Interest expense | 119 | 243 | 292 | 297 | – |
| Pre-tax income | 247 | (273) | 169 | 254 | 331 |
| Income tax | 40 | (76) | 29 | 33 | 96 |
| Net income | 201 | (203) | 151 | 199 | 440 |
| Diluted EPS | $3.39 | −$3.10 | $2.13 | $2.76 | $6.08 |
| Diluted shares (millions) | 59 | 66 | 71 | 72 | 72 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
1.43 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 5, 2026