Southwest Gas Holdings Inc (SWX) financials
Southwest Gas revenue and earnings by year
Southwest Gas's revenue was $1.94 billion in the fiscal year to December 31, 2025, down 21.6% from the year before. Net income was $440 million, 22.7% of revenue. Since the fiscal year to December 31, 2016, revenue has shrunk 2.6% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.94 | 2.48 | 2.53 | 4.96 | 3.68 | 3.30 | 3.12 | 2.88 | 2.55 | 2.46 |
| Revenue growth | -21.6% | -2.3% | -48.9% | 34.8% | 11.6% | 5.7% | 8.3% | 13.0% | 3.6% | — |
| Gross profit | 0.80 | 0.71 | 0.66 | 0.90 | 0.74 | 0.76 | 0.68 | 0.61 | 0.59 | 0.60 |
| Gross margin | 41.5% | 28.7% | 26.0% | 18.2% | 20.1% | 22.9% | 21.6% | 21.1% | 23.3% | 24.6% |
| Operating income | 0.47 | 0.41 | 0.29 | -0.02 | 0.37 | 0.42 | 0.37 | 0.36 | 0.34 | 0.32 |
| Operating margin | 24.4% | 16.4% | 11.6% | -0.5% | 10.0% | 12.8% | 11.9% | 12.4% | 13.5% | 12.8% |
| Net income | 0.44 | 0.20 | 0.15 | -0.20 | 0.20 | 0.23 | 0.21 | 0.18 | 0.19 | 0.15 |
| Net margin | 22.7% | 8.0% | 6.0% | -4.1% | 5.5% | 7.0% | 6.9% | 6.3% | 7.6% | 6.2% |
| Diluted EPS | $6.08 | $2.76 | $2.13 | -$3.10 | $3.39 | $4.13 | $3.95 | $3.68 | $4.03 | $3.18 |
| Free cash flow | -0.25 | 0.53 | -0.26 | -0.45 | -0.60 | -0.20 | -0.44 | -0.24 | -0.25 | 0.07 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open SWX in Markets.
See also: SWX valuation and P/E history · SWX returns
No forecast, no recommendation. This page describes Southwest Gas Holdings Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.