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Annual data and sources

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Southwest Gas Holdings, Inc. (SWX) · NYSE · USD · Sector unavailable · SEC ID 0001692115

Annual coverage: 2015-12-31–2025-12-31 (11 periods). Data snapshot built 2026-10-09.

Tables include every stored fiscal period, even outside the selected chart range. Missing or unsupported values are marked “Unavailable,” not zero.

Earnings and per-share history

Annual EPS, cash flow and dividends

Per-share values are in USD; dividend yield is a percent.

Dividend-yield method and limitations

Annual EPS, cash flow, dividends and fiscal-year dividend yield for Southwest Gas Holdings, Inc.. Per-share values in USD; yield in percent.
Fiscal year / endBasic EPSDiluted EPSFCF / shareDividends / shareFiscal-year dividend yieldFiling sources
2025
2025-12-31
6.096.08-3.482.483.07%Basic EPS (2026-02-25)
Diluted EPS (2026-02-25)
Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25)
Dividend (2026-02-25)
2024
2024-12-31
2.772.767.072.483.53%Basic EPS (2026-02-25)
Diluted EPS (2026-02-25)
Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25)
Dividend (2026-02-25)
2023
2023-12-31
2.132.13-3.622.483.91%Basic EPS (2026-02-25)
Diluted EPS (2026-02-25)
Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25)
Dividend (2026-02-25)
2022
2022-12-31
-3.10-3.10-6.892.484.01%Basic EPS (2025-02-26)
Diluted EPS (2025-02-26)
Operating cash flow (2025-02-26) · Capital expenditure (2025-02-26)
Dividend (2025-02-26)
2021
2021-12-31
3.393.39-10.202.383.51%Basic EPS (2024-02-28)
Diluted EPS (2024-02-28)
Operating cash flow (2024-02-28) · Capital expenditure (2024-02-28)
Dividend (2024-02-28)
2020
2020-12-31
4.154.14-3.552,280.004,015.68%Basic EPS (2023-02-28)
Diluted EPS (2023-02-28)
Operating cash flow (2023-02-28) · Capital expenditure (2023-02-28)
Dividend (2023-02-28)
2019
2019-12-31
3.943.94-8.062,180.003,198.51%Basic EPS (2022-03-01)
Diluted EPS (2022-03-01)
Operating cash flow (2022-03-01) · Capital expenditure (2022-03-01)
Dividend (2022-03-01)
2018
2018-12-31
3.693.68-4.792,080.003,124.54%Basic EPS (2021-02-25)
Diluted EPS (2021-02-25)
Operating cash flow (2021-02-25) · Capital expenditure (2021-02-25)
Dividend (2021-02-25)
2017
2017-12-31
4.044.04-5.291,980.002,866.04%Basic EPS (2020-03-02)
Diluted EPS (2020-03-02)
Operating cash flow (2020-03-02) · Capital expenditure (2020-03-02)
Dividend (2020-03-02)
2016
2016-12-31
3.203.181.481.802.80%Basic EPS (2019-02-28)
Diluted EPS (2019-02-28)
Operating cash flow (2019-02-28) · Capital expenditure (2019-02-28)
Dividend (2019-02-28)
2015
2015-12-31
2.942.921.351.623.59%Basic EPS (2018-02-28)
Diluted EPS (2018-02-28)
Operating cash flow (2018-02-28) · Capital expenditure (2018-02-28)
Dividend (2018-02-28)

Revenue and debt per share

Revenue/share is annual revenue divided by average diluted shares. Debt/share is year-end borrowings divided by common shares; leases are excluded. Per-share values are in USD. Metric definitions.

Fiscal endRevenue / shareTotal debt / shareCalculation inputs & SEC filings
2025-12-31Unavailable48.57
Calculation inputs & SEC filings
  • Revenue: Unavailable — required inputs are missing, conflicting or unsupported
  • Average diluted shares: 72,337,000.00 shares
  • Borrowings: 3,508,012,000.00 USD
  • Year-end common shares: 72,224,593.00 shares
2024-12-31Unavailable58.29
Calculation inputs & SEC filings
  • Revenue: Unavailable — required inputs are missing, conflicting or unsupported
  • Average diluted shares: 72,032,000.00 shares
  • Borrowings: 4,184,477,000.00 USD
  • Year-end common shares: 71,782,756.00 shares
2023-12-3176.5573.79
Calculation inputs & SEC filings
  • Revenue: 5,433,972,000.00 USD
  • Average diluted shares: 70,990,000.00 shares
  • Borrowings: 5,280,890,000.00 USD
  • Year-end common shares: 71,563,750.00 shares
2022-12-3175.6689.25
Calculation inputs & SEC filings
  • Revenue: 4,960,009,000.00 USD
  • Average diluted shares: 65,558,000.00 shares
  • Borrowings: 5,990,662,000.00 USD
  • Year-end common shares: 67,119,143.00 shares
2021-12-3162.11104.63
Calculation inputs & SEC filings
  • Revenue: 3,680,451,000.00 USD
  • Average diluted shares: 59,259,000.00 shares
  • Borrowings: 6,322,008,000.00 USD
  • Year-end common shares: 60,422,081.00 shares
2020-12-3158.8350.35
Calculation inputs & SEC filings
  • Revenue: 3,298,873,000.00 USD
  • Average diluted shares: 56,076,000.00 shares
  • Borrowings: 2,879,633,000.00 USD
  • Year-end common shares: 57,192,925.00 shares
2019-12-3157.4448.63
Calculation inputs & SEC filings
  • Revenue: 3,119,917,000.00 USD
  • Average diluted shares: 54,312,000.00 shares
  • Borrowings: 2,674,994,000.00 USD
  • Year-end common shares: 55,007,433.00 shares
2018-12-3158.2143.23
Calculation inputs & SEC filings
  • Revenue: 2,880,013,000.00 USD
  • Average diluted shares: 49,476,000.00 shares
  • Borrowings: 2,292,318,000.00 USD
  • Year-end common shares: 53,026,848.00 shares
2017-12-3153.1142.39
Calculation inputs & SEC filings
  • Revenue: 2,548,792,000.00 USD
  • Average diluted shares: 47,991,000.00 shares
  • Borrowings: 2,038,422,000.00 USD
  • Year-end common shares: 48,090,470.00 shares
2016-12-3151.46Unavailable
Calculation inputs & SEC filings
  • Revenue: 2,460,490,000.00 USD
  • Average diluted shares: 47,814,000.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 47,482,068.00 shares
2015-12-3149.80Unavailable
Calculation inputs & SEC filings
  • Revenue: 2,359,509,000.00 USD
  • Average diluted shares: 47,383,000.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: Unavailable — required inputs are missing, conflicting or unsupported

Operating performance and returns

Revenue and profit margins

Operating margin is operating income divided by revenue; net margin is net income divided by revenue. Negative margins indicate a loss. Metric definitions.

Fiscal endRevenue (USD)Operating margin (%)Net margin (%)Calculation inputs & SEC filings
2025-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • Revenue: Unavailable — required inputs are missing, conflicting or unsupported
  • Operating income: 473,886,000.00 USD
  • Net income: 435,180,000.00 USD
2024-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • Revenue: Unavailable — required inputs are missing, conflicting or unsupported
  • Operating income: 406,472,000.00 USD
  • Net income: 204,836,000.00 USD
2023-12-315,433,972,000.005.392.86
Calculation inputs & SEC filings
  • Revenue: 5,433,972,000.00 USD
  • Operating income: 292,975,000.00 USD
  • Net income: 155,517,000.00 USD
2022-12-314,960,009,000.00-0.49-3.99
Calculation inputs & SEC filings
  • Revenue: 4,960,009,000.00 USD
  • Operating income: -24,398,000.00 USD
  • Net income: -197,684,000.00 USD
2021-12-313,680,451,000.0010.045.63
Calculation inputs & SEC filings
  • Revenue: 3,680,451,000.00 USD
  • Operating income: 369,547,000.00 USD
  • Net income: 207,202,000.00 USD
2020-12-313,298,873,000.0012.827.24
Calculation inputs & SEC filings
  • Revenue: 3,298,873,000.00 USD
  • Operating income: 423,004,000.00 USD
  • Net income: 238,985,000.00 USD
2019-12-313,119,917,000.0011.926.94
Calculation inputs & SEC filings
  • Revenue: 3,119,917,000.00 USD
  • Operating income: 371,811,000.00 USD
  • Net income: 216,647,000.00 USD
2018-12-312,880,013,000.0012.416.31
Calculation inputs & SEC filings
  • Revenue: 2,880,013,000.00 USD
  • Operating income: 357,433,000.00 USD
  • Net income: 181,652,000.00 USD
2017-12-312,548,792,000.0013.467.61
Calculation inputs & SEC filings
  • Revenue: 2,548,792,000.00 USD
  • Operating income: 343,124,000.00 USD
  • Net income: 193,942,000.00 USD
2016-12-312,460,490,000.0012.826.22
Calculation inputs & SEC filings
  • Revenue: 2,460,490,000.00 USD
  • Operating income: 315,474,000.00 USD
  • Net income: 153,055,000.00 USD
2015-12-312,359,509,000.0012.225.91
Calculation inputs & SEC filings
  • Revenue: 2,359,509,000.00 USD
  • Operating income: 288,332,000.00 USD
  • Net income: 139,430,000.00 USD

Cash generation and capital returns

FCF margin is free cash flow as a share of revenue. FCF / net income compares free cash flow with positive net income. ROCE divides operating income by average capital employed and requires positive opening and closing balances. Metric definitions.

Fiscal endFCF margin (%)FCF / net income (%)ROCE (%)Calculation inputs & SEC filings
2025-12-31Unavailable-57.864.80
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Free cash flow -251,790,000.00 USD ÷ Net income 435,180,000.00 USD
  • ROCE (operating income ÷ average capital employed): Operating income 473,886,000.00 USD ÷ Average capital employed 9,870,259,000.00 USD
2024-12-31Unavailable248.58Unavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Free cash flow 509,190,000.00 USD ÷ Net income 204,836,000.00 USD
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2023-12-31Unavailable-165.04Unavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — inputs come from different filings.
  • FCF / net income: Free cash flow -256,660,000.00 USD ÷ Net income 155,517,000.00 USD
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2022-12-31-9.11Unavailable-0.25
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Free cash flow -451,961,000.00 USD ÷ Revenue 4,960,009,000.00 USD
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Operating income -24,398,000.00 USD ÷ Average capital employed 9,713,429,500.00 USD
2021-12-31-16.42-291.624.23
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Free cash flow -604,243,000.00 USD ÷ Revenue 3,680,451,000.00 USD
  • FCF / net income: Free cash flow -604,243,000.00 USD ÷ Net income 207,202,000.00 USD
  • ROCE (operating income ÷ average capital employed): Operating income 369,547,000.00 USD ÷ Average capital employed 8,738,547,000.00 USD
2020-12-31-6.03-83.285.67
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Free cash flow -199,025,000.00 USD ÷ Revenue 3,298,873,000.00 USD
  • FCF / net income: Free cash flow -199,025,000.00 USD ÷ Net income 238,985,000.00 USD
  • ROCE (operating income ÷ average capital employed): Operating income 423,004,000.00 USD ÷ Average capital employed 7,457,036,500.00 USD
2019-12-31-14.03-202.075.50
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Free cash flow -437,776,000.00 USD ÷ Revenue 3,119,917,000.00 USD
  • FCF / net income: Free cash flow -437,776,000.00 USD ÷ Net income 216,647,000.00 USD
  • ROCE (operating income ÷ average capital employed): Operating income 371,811,000.00 USD ÷ Average capital employed 6,754,635,500.00 USD
2018-12-31-8.23-130.506.04
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Free cash flow -237,058,000.00 USD ÷ Revenue 2,880,013,000.00 USD
  • FCF / net income: Free cash flow -237,058,000.00 USD ÷ Net income 181,652,000.00 USD
  • ROCE (operating income ÷ average capital employed): Operating income 357,433,000.00 USD ÷ Average capital employed 5,920,134,500.00 USD
2017-12-31-9.95-130.81Unavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Free cash flow -253,694,000.00 USD ÷ Revenue 2,548,792,000.00 USD
  • FCF / net income: Free cash flow -253,694,000.00 USD ÷ Net income 193,942,000.00 USD
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2016-12-312.8846.37Unavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Free cash flow 70,977,000.00 USD ÷ Revenue 2,460,490,000.00 USD
  • FCF / net income: Free cash flow 70,977,000.00 USD ÷ Net income 153,055,000.00 USD
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2015-12-312.7145.94Unavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Free cash flow 64,060,000.00 USD ÷ Revenue 2,359,509,000.00 USD
  • FCF / net income: Free cash flow 64,060,000.00 USD ÷ Net income 139,430,000.00 USD
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.

Valuation history

P/E ratio history

The P/E chart uses 1129 weekly price points (2005-02-25–2026-10-08); 511 have a basic or diluted P/E ratio. Annual EPS carries forward between fiscal year-ends.

Fiscal-year-end snapshots

10 fiscal-year-end periods with an eligible ratio (2015-12-31–2025-12-31). Most recent: diluted 13.28× and basic 13.26× (fiscal end 2025-12-31; price date 2025-12-26).

Annual P/E = fiscal-year-end closing price ÷ reported annual EPS. It is a historical annual ratio, not TTM or forward P/E. Zero or negative EPS and missing eligible prices produce no ratio. Why we use annual data.

Open the interactive P/E chart · How P/E history is calculated.

Show all annual P/E values (11 fiscal years)
Full stored fiscal-year-end P/E history, independent of the selected chart window. Ratios in ×; prices in USD.
Fiscal endPrice dateClosePrice basisBasic P/EDiluted P/EEPS filings
2025-12-312025-12-2680.76Adjusted close13.2613.28Basic EPS (2026-02-25) Diluted EPS (2026-02-25)
2024-12-312024-12-2770.35Adjusted close25.4025.49Basic EPS (2026-02-25) Diluted EPS (2026-02-25)
2023-12-312023-12-2963.35Adjusted close29.7429.74Basic EPS (2026-02-25) Diluted EPS (2026-02-25)
2022-12-312022-12-3061.88Adjusted closeUnavailableUnavailableBasic EPS (2025-02-26) Diluted EPS (2025-02-26)
2021-12-312021-12-3167.76Adjusted close19.9919.99Basic EPS (2024-02-28) Diluted EPS (2024-02-28)
2020-12-312020-12-3156.78Adjusted close13.6813.71Basic EPS (2023-02-28) Diluted EPS (2023-02-28)
2019-12-312019-12-2768.16Adjusted close17.3017.30Basic EPS (2022-03-01) Diluted EPS (2022-03-01)
2018-12-312018-12-2866.57Adjusted close18.0418.09Basic EPS (2021-02-25) Diluted EPS (2021-02-25)
2017-12-312017-12-2969.08Adjusted close17.1017.10Basic EPS (2020-03-02) Diluted EPS (2020-03-02)
2016-12-312016-12-3064.22Adjusted close20.0720.20Basic EPS (2019-02-28) Diluted EPS (2019-02-28)
2015-12-312015-12-3145.07Adjusted close15.3315.43Basic EPS (2018-02-28) Diluted EPS (2018-02-28)

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