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Southwest Gas Holdings, Inc. · SWX
SWXNYSECommon stockCurrentCIK 1692115Updated Oct 3, 2026
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Southwest Gas Holdings, Inc. Reports Third Quarter 2025 Financial Results, Southwest Gas 2025 Net Income Expected Toward Top End of Guidance Range News provided by Southwest Gas Holdings, Inc. Nov 05, 2025, 08:00 ET Share this article Share to X Share this article Share to X Completed Full Separatio ↗
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Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 10,429,477,000Source | 12,023,836,000Source | 11,869,896,000Source | 13,196,614,000Source |
| GoodwillUSD | 11,155,000Source | 781,201,000Source | 789,729,000Source | 787,250,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 576,645,000Source | 363,789,000Source | 106,536,000Source | 123,078,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 170,601,000Source | 722,622,000Source | 886,549,000Source | 866,246,000Source |
| Assets, CurrentUSD | 1,192,092,000Source | 1,464,475,000Source | 1,881,114,000Source | 3,707,662,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 234,598,000Source | 265,113,000Source | 218,832,000Source | 433,850,000Source |
| Other Assets, NoncurrentUSD | 356,865,000Source | 474,751,000Source | 414,008,000Source | 395,948,000Source |
| LIABILITIES AND EQUITY | ||||
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | 73,854,000Source | 73,413,000Source | 73,194,000Source | 68,749,000Source |
| Retained Earnings (Accumulated Deficit)USD | 1,022,846,000Source | 758,649,000Source | 738,839,000Source | 747,069,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -34,546,000Source | -49,218,000Source | -43,787,000Source | -44,242,000Source |
| Stockholders' Equity Attributable to ParentUSD | 3,961,119,000Source | 3,504,187,000Source | 3,310,036,000Source | 3,058,759,000Source |
| Additional Paid in Capital, Common StockUSD | 2,898,965,000Source | 2,721,343,000Source | 2,541,790,000Source | 2,287,183,000Source |
| Liabilities and EquityUSD | 10,429,477,000Source | 12,023,836,000Source | 11,869,896,000Source | 13,196,614,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 929,898,000Source | 1,832,097,000Source | 1,684,847,000Source | 3,422,963,000Source |
| Accounts Payable, CurrentUSD | 225,732,000Source | 331,807,000Source | 346,907,000Source | 662,090,000Source |
| Other Liabilities, NoncurrentUSD | 2,105,448,000Source | 2,154,317,000Source | 2,160,508,000Source | 2,152,244,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 0Source | 177,235,000Source | — | — |
| Additional Financial Items | ||||
| Deferred Tax Liabilities, NetUSD | 977,312,000Source | 805,606,000Source | 752,534,000Source | 681,985,000Source |
| Dividends Payable, CurrentUSD | 44,779,000Source | 44,500,000Source | 44,400,000Source | 41,600,000Source |
| Long-term Debt, Current MaturitiesUSD | 75,000,000Source | 30,018,000Source | 42,552,000Source | 44,557,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 3,433,012,000Source | 4,348,340,000Source | 4,609,838,000Source | 4,403,299,000Source |
| Redeemable Noncontrolling Interest, Equity, Carrying AmountUSD | 0Source | 7,660,000Source | 104,667,000Source | 159,349,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 435,180,000Source | 204,836,000Source | 155,517,000Source | -197,684,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation and amortization | — | — | — | — |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 14,631,000Source | 14,899,000Source | 8,079,000Source | 9,446,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | -32,411,000Source | -126,521,000Source | 22,583,000Source | 193,775,000Source |
| Increase (Decrease) in Accounts PayableUSD | 13,172,000Source | -10,574,000Source | -286,161,000Source | 293,909,000Source |
| Deferred Income Tax Expense (Benefit)USD | 94,284,000Source | 26,497,000Source | 26,914,000Source | -90,916,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 556,076,000Source | 1,355,780,000Source | 509,211,000Source | 407,460,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | — | 0Source | 0Source | 18,809,000Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -24,814,000Source | -921,568,000Source | 150,966,000Source | -838,902,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | 955,000Source | -8,973,000Source | -9,909,000Source | -17,822,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 807,866,000Source | 945,923,000Source | 872,521,000Source | 859,421,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 3,063,000Source | 3,116,000Source | 1,990,000Source | 2,662,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -318,279,000Source | -176,335,000Source | -700,795,000Source | 356,480,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 178,509,000Source | 177,768,000Source | 174,574,000Source | 160,563,000Source |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | -4,678,000Source | -14,948,000Source | -15,881,000Source | -24,172,000Source |
| Repayments of Long-term DebtUSD | — | 629,407,000Source | 248,328,000Source | 499,914,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 212,856,000Source | 257,253,000Source | — | -75,816,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | 363,789,000Source | 106,536,000Source | 123,078,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 240,175,000Source | 278,888,000Source | 282,626,000Source | 219,825,000Source |
| Income Taxes Paid, NetUSD | 40,488,000Source | 9,905,000Source | 9,365,000Source | 12,001,000Source |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | -624,000Source | 273,000Source | -854,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 23,336,000Source | — | — | — |
| Amortization of Intangible AssetsUSD | — | 26,600,000Source | 26,700,000Source | 29,800,000Source |
| Dividends Payable, CurrentUSD | 44,779,000Source | 44,500,000Source | 44,400,000Source | 41,600,000Source |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | 1,604,000Source | 3,634,000Source | 4,683,000Source | 7,865,000Source |
| GoodwillUSD | 11,155,000Source | 781,201,000Source | 789,729,000Source | 787,250,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 234,836,000Source | — | — | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 200,344,000Source | — | — | — |
| Income (Loss) from Equity Method InvestmentsUSD | 0Source | — | — | — |
| Income Tax Expense (Benefit)USD | 96,037,000Source | 36,460,000Source | 41,832,000Source | -75,653,000Source |
| InterestExpenseNonoperatingUSD | — | 297,043,000Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | 439,826,000Source | 198,815,000Source | 150,889,000Source | -203,290,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -4,646,000Source | 6,021,000Source | 4,628,000Source | 5,606,000Source |
| Nonoperating Income (Expense)USD | -143,013,000Source | -242,475,000Source | -220,981,000Source | -248,939,000Source |
| Other Nonoperating Income (Expense)USD | 60,068,000Source | 54,568,000Source | 71,305,000Source | -6,189,000Source |
| Proceeds from Issuance of Common StockUSD | 19,727,000Source | 8,884,000Source | 251,759,000Source | 461,828,000Source |
| Proceeds from Issuance of Long-term DebtUSD | 0Source | 353,769,000Source | 1,044,861,000Source | 1,067,805,000Source |
| Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of EquityUSD | 5,809,000Source | 6,597,000Source | 1,869,000Source | 0Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | — | — | 5,433,972,000Source | 4,960,009,000Source |
| Cost of RevenueUSD | — | 2,415,101,000Source | 2,617,402,000Source | 2,529,318,000Source |
| Gross Profit (Calculated) · Derived | — | — | — | — |
| Operating Income (Loss)USD | 473,886,000Source | 483,771,000Source | 418,330,000Source | -24,398,000Source |
| Other Nonoperating Income (Expense)USD | 60,068,000Source | 54,568,000Source | 71,305,000Source | -6,189,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 330,873,000Source | 241,296,000Source | 197,349,000Source | -273,337,000Source |
| Income Tax Expense (Benefit)USD | 96,037,000Source | 36,460,000Source | 41,832,000Source | -75,653,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -4,646,000Source | 6,021,000Source | 4,628,000Source | 5,606,000Source |
| Net Income (Loss) Attributable to ParentUSD | 439,826,000Source | 198,815,000Source | 150,889,000Source | -203,290,000Source |
| Earnings Per Share, BasicUSD per share | 6.09Source | 2.77Source | 2.13Source | -3.1Source |
| Earnings Per Share, DilutedUSD per share | 6.08Source | 2.76Source | 2.13Source | -3.1Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 72,162,000Source | 71,841,000Source | 70,787,000Source | 65,558,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 72,337,000Source | 72,032,000Source | 70,990,000Source | 65,558,000Source |
| Interest Expense (non-operating)USD | — | 297,043,000Source | — | — |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | — | 26,600,000Source | 26,700,000Source | 29,800,000Source |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 2.48Source | 2.48Source | 2.48Source | 2,480Source |
| Costs and ExpensesUSD | 1,466,494,000Source | 4,628,674,000Source | 5,015,642,000Source | 4,984,407,000Source |
| Current Income Tax Expense (Benefit)USD | 1,753,000Source | 9,963,000Source | 14,918,000Source | 15,263,000Source |
| Depreciation, Depletion and Amortization, NonproductionUSD | 330,724,000Source | 438,440,000Source | 440,908,000Source | 470,455,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | — | 224,173,000Source | 176,820,000Source | -302,581,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 234,836,000Source | — | — | — |
| Income (Loss) from Continuing Operations, Per Basic ShareUSD per share | 3.25Source | — | — | — |
| Income (Loss) from Continuing Operations, Per Diluted ShareUSD per share | 3.25Source | — | — | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 200,344,000Source | — | — | — |
| Income (Loss) from Equity Method InvestmentsUSD | 0Source | — | — | — |
| Interest ExpenseUSD | — | — | 292,286,000Source | 242,750,000Source |
| Interest Income (Expense), Nonoperating, NetUSD | -203,081,000Source | — | — | — |
| Interest Income, OtherUSD | — | 33,581,000Source | 50,757,000Source | 16,183,000Source |
| Nonoperating Income (Expense)USD | -143,013,000Source | -242,475,000Source | -220,981,000Source | -248,939,000Source |
| Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of EquityUSD | 5,809,000Source | 6,597,000Source | 1,869,000Source | 0Source |
| Taxes, MiscellaneousUSD | 94,070,000Source | 88,965,000Source | 88,751,000Source | 93,383,000Source |
| Utilities Operating Expense, Gas and Petroleum PurchasedUSD | 497,636,000Source | 1,150,005,000Source | 1,253,269,000Source | 799,060,000Source |