SWX · Southwest Gas Holdings, Inc.
Market Cap
$6.22B
Shares
72.45M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$85.85
Open$85.93
Day$85.21–85.94
52W close$77.23–94.05
Avg vol 30d574K
Short int1.9M · 2.6% float · 5.2d
Short vol63%
Last earningsAug 5, 2026
DataJan 2020–Sep 2026
Filing10-Q · Aug 5
Up next
Next earnings call
Nov 5, 2026
Est · unconfirmed
· in 7 wks
filed Aug 5, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$5.21B
Trailing 12 months
Net income (TTM)
$546.61M
Trailing 12 months
Revenue growth YoY
-7.7%
Year over year
Operating margin
5.4%
Trailing 12 months
P / E (TTM)
11.4
Trailing earnings · reciprocal yield 8.8%
FCF yield
-8.5%
TTM · current market cap
Return on invested capital
5.2%
Trailing 12 months
Net cash
−$3.24B
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
+0.8%
Year over year · more shares
Price change (1Y)
+8.7%
Trailing year
Short interest
2.6%
Latest settlement · 5.2 days to cover
AI Brief
Q2 FY26 earnings call · Aug 5, 2026
Q2 FY26
TL;DR. Southwest Gas Holdings reaffirmed its 2026 EPS guidance of $4.17–$4.32 and reaffirmed full-year and long-term outlook, while raising Great Basin's 2028 expansion project capital estimate to approximately $2.3 billion and annual margin to $270–$300 million with ~1 Bcf/day of binding precedent agreements. The company awaits the California cost-of-capital decision later this month, with Nevada progressing toward an October 2026 effective date and Arizona on track for April 2027.
Bullish
- + Great Basin 2028 expansion contracted demand reached approximately 1 Bcf/day of binding precedent agreements with an estimated $2.3 billion of capital investment and $270–$300 million of incremental annual margin.
- + Constructive California rate case decision delivered approximately $40 million of incremental annual revenue, including ~$9.7 million of incremental Q2 net income from previously deferred margin.
- + Holdco earnings improved significantly from prior year following 2025 payoff of all parent-level debt, reducing interest expense by approximately $8.6 million versus the prior-year quarter.
- + Strong balance sheet with $270.5 million of cash and nearly $1.0 billion of available liquidity and no outstanding holdco debt, supporting the capital program.
- + Reaffirmed 2026 EPS guidance of $4.17–$4.32 along with reaffirmed long-term EPS CAGR of 12.0%–14.0% and rate-base CAGR of 9.5%–11.5% through 2030.
Bearish
- − Nevada general rate case parties recommend just under $40 million versus the company's ~$74 million request (~52% of request), with parties converging on 9.3% ROE.
- − Updated Great Basin 2028 scope adds approximately $600 million of capital beyond the $1.7 billion already in long-term guidance and is not yet incorporated into the outlook.
- − Final California cost-of-capital decision remains pending and is expected later this month, leaving full outcome unresolved.
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Buy
SellHoldBuy
Technical
Neutral
Momentum
Weak
Sentiment
Bullish
Fundamentals
Strong
Quant / Vol
Very Low
Market backdrop
VIX 14.8 · calm
Equity put/call 0.58
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−2%
below
Price vs 50-day avg
−5%
below
RSI (14)
35
neutral
MACD trend
Negative
52-week position
51%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−6%
trailing
6-month return
−1%
trailing
YTD return
+7%
this year
Relative strength
−21%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $90 › 200d $87 — 50d above 200d
Institutional flow
Accumulating
+3% holders QoQ · +55 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
2.65% of float · ▼ -16.7% MoM · 5.2 days cover
Volume signal
Reversal watch
High volume on a down day — possible exhaustion
Institution breadth
Multi-yr high
411 holders — near 3-yr high, broad support
Squeeze score
44
elevated · 0–100
Fundamentals
Revenue growth
+10%
Y/Y
EPS growth
+120%
Y/Y
Free cash flow
$-251.8M
Valuation
P/E 11.4
below peers
Balance sheet
$2.9B
net debt
Quant / Vol
risk profile
Volatility
18%
annualized · 1-yr
Max drawdown
−10%
past year
ATR
1.8%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the Earnings Call filed Aug 5, 2026
2026
Capital expenditures
$1.25B
through 2030
Rate base CAGR
9.5% – 11.5%
2028 expansion project upon completion
Annual margin
$270M – $300M
Prior guidance
period ended
· from the Earnings Call filed Nov 5, 2020
Capital expenditures
· this year
$700M
Capital expenditures
· three-year period ended 2022
$2.1B
Equity issuances through our ATM
· the year
$125M – $170M
Revenues
· this year
6% – 8%
Operating income as a percentage of revenues
· this year
5.5% – 6%
Interest expense
· this year
$9M – $10M
Equity issuances through our ATM
· three-year period ended 2022
$500M – $675M
Capital expenditures
· five-year period ended 2024
$3.5B
Dividend payout ratio
· three-year period ended 2022
55% – 65%
Compound annual growth rate in rate base
· five-year period ended 2024
8.6%
Rate base
· end of 2024
$6.2B
Operating income as a percentage of revenues
· three years ended 2022
5.5% – 6.5%
Centuri revenues
· over the three-year period ended 2022
5% – 8%
Centuri operating income as a percent of revenues
· over the three years ended 2022
5.5% – 6.5%
Guided vs delivered
· last 1 settled
Earnings per share
2020
guided $3.75 – $4.00
$4.14
Beat +6.8%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Neutral
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−2%
Neutral
Price vs 50-day avg
−5%
Neutral
RSI (14)
35
Neutral
MACD trend
Negative
Bearish
52-week position
51%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bullish · 3 of 6
Trend (MA cross)
No cross
50d $90 › 200d $87 — 50d above 200d
Institutional flow
Accumulating
+3% holders QoQ · +55 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
2.65% of float · ▼ -16.7% MoM · 5.2 days cover
Volume signal
Reversal watch
High volume on a down day — possible exhaustion
Institution breadth
Multi-yr high
411 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $77
Now $86 · 51%
Range high $94
vs 200-day avg -2%
vs 50-day avg -5%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Utilities - Regulated Gas — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
SWX
this stock
Southwest Gas Holdings, Inc.
|
$6.22B | +7.3% | +9.6% | 11.4 | 2.6% |
|
ATO
Atmos Energy Corp
|
$27.38B | -4.4% | +12.9% | 19.3 | 2.6% |
|
NI
Nisource Inc.
|
$19.46B | -2.8% | +8.5% | 21.6 | 3.1% |
|
UGI
Ugi Corp /Pa/
|
$8.12B | +0.6% | +1.1% | — | 4.9% |
|
NJR
New Jersey Resources Corp
|
$5.41B | +15.6% | +9.9% | 14.7 | 3.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SWX | -0.3% | -6.0% | -1.0% | -2.8% | +7.3% |
| SPY | -0.3% | -0.1% | +20.1% | -0.7% | +11.7% |
| vs SPY | +0.0% | -5.9% | -21.1% | -2.1% | -4.4% |