# Southwest Gas Holdings, Inc.: overview

SWX · NYSE · CIK 1692115 · [Utilities](/sectors/utilities.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/swx.md) · [Financials](/companies/swx/financials.md) · [Filings](/companies/swx/filings.md) · [Insiders](/companies/swx/insiders.md)

Latest reported revenue: [$1.08bn](/filings/0001692115-24-000114.md) for Q3 FY2024, three months to 2024-09-30, from the 10-Q filed Nov 6, 2024 (XBRL us-gaap:Revenues, accession 0001692115-24-000114).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,079](/filings/0001692115-24-000114.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [1.9%](/filings/0001692115-25-000149.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [0.0%](/filings/0001692115-25-000149.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Diluted EPS | $ per share | [0.00](/filings/0001692115-25-000149.md) | not reported | [1.58](/filings/0001692115-26-000088.md) | [(0.56)](/filings/0001692115-26-000112.md) | [3.63](/filings/0001692115-26-000062.md) | not reported | [1.91](/filings/0001692115-26-000088.md) | [0.58](/filings/0001692115-26-000112.md) |
| Free cash flow | $m | [105 d](/filings/0001692115-25-000149.md) | [(1.4) d](/filings/0001692115-26-000062.md) | [128](/filings/0001692115-26-000088.md) | [(73.0) d](/filings/0001692115-26-000112.md) | [(151) d](/filings/0001692115-26-000062.md) | [(156) d](/filings/0001692115-26-000062.md) | [(46.6)](/filings/0001692115-26-000088.md) | [(174) d](/filings/0001692115-26-000112.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2023 (2023-06-30) | FY2023 (2023-09-30) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [5,443](/filings/0001692115-23-000133.md) | [5,487](/filings/0001692115-23-000143.md) | [5,434](/filings/0001692115-24-000038.md) | not reported | not reported |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(0.3%)](/filings/0001692115-23-000133.md) | [(0.2%)](/filings/0001692115-23-000143.md) | [5.4%](/filings/0001692115-26-000062.md) | not reported | not reported |
| Net margin | % | [(4.0%)](/filings/0001692115-23-000133.md) | [(3.7%)](/filings/0001692115-23-000143.md) | [2.8%](/filings/0001692115-26-000062.md) | not reported | not reported |
| Diluted EPS | $ per share | [(3.18)](/filings/0001692115-23-000133.md) | [(2.91)](/filings/0001692115-23-000143.md) | [2.13](/filings/0001692115-26-000062.md) | [2.76](/filings/0001692115-26-000062.md) | [6.08](/filings/0001692115-26-000062.md) |
| Free cash flow | $m | [(774)](/filings/0001692115-23-000133.md) | [(609)](/filings/0001692115-23-000143.md) | [(257)](/filings/0001692115-26-000062.md) | [509](/filings/0001692115-26-000062.md) | [(252)](/filings/0001692115-26-000062.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/swx/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $991.5m | 11,181,201 |  | Added +434,070 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $494.4m | 5,575,126 |  | Added +413,169 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $352.4m | 3,973,510 |  | Added +117,743 |
| [Corvex Management LP](/funds/1535472.md) | 2026-06-30 | $284.5m | 3,208,538 |  | Reduced −1,109,623 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $270.3m | 3,047,616 |  | Added +39,317 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $231.2m | 2,607,181 |  | Added +185,646 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $185.1m | 2,086,964 |  | Added +378,958 |
| [MAVERICK CAPITAL LTD](/funds/934639.md) | 2026-06-30 | $167.6m | 1,889,558 |  | Reduced −237,369 |
| [AQR CAPITAL MANAGEMENT LLC](/funds/1167557.md) | 2026-06-30 | $142.2m | 1,603,686 |  | Added +439,708 |
| [ADAGE CAPITAL PARTNERS GP, L.L.C.](/funds/1165408.md) | 2026-06-30 | $120.1m | 1,354,517 |  | Reduced −120,483 |

## Recent filings

[All 1,124 filings](/companies/swx/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-20 | 16:15 ET | [8-K](/filings/0001193125-26-426703.md) | 5.02 Departure or appointment of officers or directors | 0001193125-26-426703 |
| 2026-08-05 | 08:35 ET | [10-Q](/filings/0001692115-26-000112.md) | Quarterly report, period 2026-06-30 | 0001692115-26-000112 |
| 2026-08-05 | 08:05 ET | [8-K](/filings/0001692115-26-000109.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001692115-26-000109 |
| 2026-05-11 | 17:17 ET | [8-K](/filings/0001692115-26-000090.md) | 5.07 Shareholder vote results | 0001692115-26-000090 |
| 2026-05-08 | 16:05 ET | [SCHEDULE 13D/A](/filings/0001011438-26-000266.md) | Ownership report, active investor, amended | 0001011438-26-000266 |
| 2026-05-05 | 08:11 ET | [10-Q](/filings/0001692115-26-000088.md) | Quarterly report, period 2026-03-31 | 0001692115-26-000088 |
| 2026-05-05 | 08:05 ET | [8-K](/filings/0001692115-26-000086.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001692115-26-000086 |
| 2026-03-23 | 16:10 ET | [DEF 14A](/filings/0001692115-26-000080.md) | Proxy statement, period 2026-05-07 | 0001692115-26-000080 |
| 2026-02-25 | 16:07 ET | [8-K](/filings/0001193125-26-071537.md) | 5.02 Departure or appointment of officers or directors | 0001193125-26-071537 |
| 2026-02-25 | 08:27 ET | [10-K](/filings/0001692115-26-000062.md) | Annual report, period 2025-12-31 | 0001692115-26-000062 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001692115-26-000062.md), filed Feb 25, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1692115
- Tickers: SWX
- Exchange: NYSE
- SIC code: 4923 Natural Gas Transmisison & Distribution
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 12:40 ET. No prices; not investment advice.