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Southwest Gas Holdings, Inc.
NYSE: SWX Utilities Energy 🔎 Screen
🏹 Trader: 🎯 Near 52W High | BRS 63 Forming View all →
$6.4B
Market Cap
13.2
P/E
1.66
PEG
4.7%
ROCE
11.4%
ROE
0.87
D/E
24.4%
OPM
-2.3%
% from 52W High
61
α RS
🔍 SWX is showing a near-52W-high setup because it's within 2.3% of its 52-week high, it matches 2 of 37 tracked screener presets, and RS Rating is 61. Net: Broad signal stack, not a recommendation. ? 52W High Conviction RS Rating
Sources
2.3% from 52W high · Conviction 2/37 · RS Rating 61
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🌏 Global Investor Returns
Currency-adjusted total returns for SWX including FX impact
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📈 Price History
Ratio Health
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📊 Sector Averages
About

Southwest Gas Holdings, Inc., through its subsidiary, Southwest Gas Corporation, purchases, distributes, and transports natural gas for residential, commercial, and industrial customers in Arizona, Nevada, and California in the United States.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding SWX
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 514.8K $44.7M 0.06% Mar 2026
Jim Simons Renaissance Technologies LLC 459.0K $39.9M 0.06% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED SWX Q1 2026 EPS $1.91, affirms 2026 guidance $4.17-$4.32, long-term growth 12-14%
Revenue & Profitability
First quarter 2026 earnings per share from continuing operations was $1.91, up from $1.86 in Q1 2025. Operating margin increased $15.1 million primarily due to rate relief and customer growth. The company affirmed 2026 adjusted EPS guidance of $4.17 to $4.32 and long-term growth of 12-14%. Higher depreciation and income taxes partially offset gains.
Outlook
Management is optimistic about growth in Arizona and Nevada, with S&P projecting nearly 5% population growth from 2026 to 2031. The California rate case is expected to be decided in 2026 with full retroactive recovery. The Great Basin expansion is on track, and overall demand for natural gas in the region remains strong.
Growth Drivers
Key growth drivers include continued customer growth (1% net in Q1, historically 1.5%), rate relief from pending rate cases in Arizona, Nevada, and California, and the Great Basin 2028 expansion project which is designed for up to 1 billion cu ft/day with an estimated $1.7 billion capital cost. The open season was oversubscribed, offering potential upside beyond current design capacity.
Balance Sheet & CapEx
The company plans to invest approximately $1.25 billion in 2026 and $6.3 billion over the next five years, primarily for safety, reliability, and system growth. This includes the Great Basin expansion project. Financing will come from operating cash flow and a planned bond issuance; no equity issuance is expected in 2026.
Margins
Operations and maintenance expense increased only 1.6%, below inflation, reflecting cost discipline. Depreciation rose $5.9 million in Q1 due to ongoing capital investment, but is expected to be offset by rate recovery. Management expects earnings growth to be front-end loaded through 2028-2029 as the Great Basin expansion enters service and formula rates reduce regulatory lag.
Key Risks
Risks include delays in the California rate case final decision (draft decision received but cost of capital deferred), potential for less favorable cost of capital outcomes, and uncertainty around Great Basin contracting conversion. If contracted demand materially exceeds the 1 billion cu ft/day design, changes to project scope, capital, and margin estimates may be required.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Adjusted EPS rose to $0.45, driven by regulatory progress, lower interest expense, and strong margin growth. Great Basin's 2028 expansion advanced with increased contracted demand and CapEx, while the balance sheet remains robust and guidance is reaffirmed.
Q1 2026 Q1 2026 2026-05-05
Q1 2026 EPS rose to $1.91, driven by rate relief and customer growth, with strong demand for the Great Basin expansion. 2026 Adjusted EPS guidance of $4.17–$4.32 and a $6.3B five-year capital plan were affirmed, supported by a robust balance sheet.
Q4 2025 Q4 2025 2026-02-25
Delivered strong 2025 results with 19% EPS growth, completed Centuri sale, and initiated 2026 EPS guidance of $4.17–$4.32. Five-year plan targets 12%-14% EPS CAGR, $6.3B in capex, and major earnings uplift from the Great Basin project.
Q3 2025 Q3 2025 2025-11-05
Completed Centuri sale, repaid all holding company debt, and improved ROE to 8.3%. EPS rose to $3.74 per share, with strong utility margin growth and S&P credit upgrade. 2025 net income guidance reaffirmed at the top end, with robust liquidity and constructive regulatory outlook.
Q2 2025 Q2 2025 2025-08-06
Record net income and robust customer growth marked the first half of 2025, supported by regulatory wins and operational improvements. Over $470 million was raised from Centuri share sales to reduce debt, and the Great Basin Expansion Project is set to drive future growth.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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