15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | — | $440M | — | — | -$252M | $3.5B | $577M |
| 2024 | — | $199M | — | — | $509M | $4.2B | $315M |
| 2023 | $5.4B | $151M | 51.8% | 5.4% | -$257M | $5.3B | $107M |
| 2023 | $5.5B | -$203M | 50.7% | -0.2% | -$609M | $5.3B | $105M |
| 2023 | $5.4B | -$218M | 50.4% | -0.3% | -$774M | $5.3B | $221M |
| 2023 | $5.3B | -$254M | 50.3% | -1.1% | -$881M | $5.1B | $82M |
| 2022 | $5.0B | -$203M | 49.0% | -0.5% | -$452M | $2.3B | $123M |
| 2022 | $4.6B | $147M | 48.0% | 8.2% | -$458M | $6.3B | $175M |
| 2022 | $4.4B | $148M | 47.8% | 8.0% | -$372M | $6.1B | $216M |
| 2022 | $4.1B | $180M | 47.7% | 9.0% | -$375M | $6.3B | $625M |
| 2021 | $3.7B | $201M | 46.9% | 10.0% | -$604M | $2.6B | $223M |
| 2021 | $3.5B | $234M | 47.1% | 11.6% | -$510M | $4.1B | $187M |
| 2021 | $3.4B | $264M | 47.4% | 12.9% | -$487M | $3.1B | $48M |
| 2021 | $3.3B | $277M | 47.9% | 13.4% | -$465M | $3.1B | $92M |
| 2020 | $3.3B | $232M | 47.6% | 12.8% | -$199M | $2.9B | $83M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | — | $138M | — | — | -$47M | $3.5B | $485M |
| Dec '25 | — | $68M | — | — | -$156M | $3.5B | $577M |
| Sep '25 | — | $263M | — | — | -$106M | $3.5B | $779M |
| Jun '25 | — | -$40M | — | — | -$94M | $4.7B | $356M |
| Mar '25 | — | $114M | — | — | $128M | $5.0B | $406M |
| Dec '24 | — | $92M | — | — | -$1M | $4.2B | $315M |
| Sep '24 | $1.1B | $289000 | 40.2% | 1.9% | $105M | $5.1B | $457M |
| Jun '24 | $1.2B | $18M | 48.9% | 7.0% | $83M | $5.2B | $600M |
| Mar '24 | $1.6B | $88M | 67.4% | 10.0% | $323M | $5.3B | $458M |
| Dec '23 | — | $73M | — | — | $103M | $5.3B | $107M |
| Sep '23 | $1.2B | $3M | 41.4% | 5.2% | -$40M | $5.3B | $105M |
| Jun '23 | $1.3B | $29M | 44.7% | 6.6% | -$22M | $5.3B | $221M |
| Mar '23 | $1.6B | $46M | 62.3% | 8.4% | -$405M | $5.1B | $82M |
| Sep '22 | $1.1B | -$12M | 39.6% | 4.4% | — | $6.3B | $175M |
| Jun '22 | $1.1B | -$7M | 43.6% | 4.0% | — | $6.1B | $216M |
| Mar '22 | $1.3B | $96M | 60.3% | 13.3% | $24M | $6.3B | $625M |
| Sep '21 | $889M | -$12M | 36.2% | 2.6% | — | $4.1B | $187M |
| Jun '21 | $821M | $25M | 41.7% | 7.2% | — | $3.1B | $48M |
| Mar '21 | $886M | $117M | 62.1% | 19.6% | -$205M | $3.1B | $92M |
| Dec '20 | $914M | $104M | 0.0% | 16.7% | — | $2.9B | $83M |
How the market has priced SWX against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Southwest Gas Holdings, Inc.'s revenue has grown 18.1% per year, and net income grown 13.6% per year. These are computed facts, not advice.
As of FY2025, Southwest Gas Holdings, Inc. reported $3.5B of total debt against $577M of cash.
In FY2025, gross margin was —, operating margin —, and net margin —.
As of Jun '26, Southwest Gas Holdings, Inc. traded at a price-to-earnings ratio of about 14.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.