Southwest Gas Holdings $SWX Read from its own SEC filings · nothing written, nothing inferred
🫧 Edgar looked up Southwest Gas Holdings, Inc. ($SWX). Last filing: 10-Q, 2026-08-05. 13 event filings (8-K) in the past twelve months. Non-reliance (8-K Item 4.02) filed 2026-01-09.
🔖 Exposure: revenue $5.4B (FY2023), total debt $4.7B. Experience: revenue up 9.6% on the year, up 14.9% a year over 4 years; operating margin 5.4%, up from -0.5%. Soundness: equity 35.7% of assets, return on equity 4.7%, payout 112.3% of profit. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $5.3B and $6.9B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $4.8B to $7.7B. A statistical range, not company guidance. Against peers (29 filers, $50M+ revenue, its industry group): operating margin 5.4% against a 27.5% median; growth 9.6% against 13.0%.
Gold paid out, navy kept. Kept share × return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.
Cash
| Cash flow (op · inv · fin · free) | $509M · $246M · −$701M · −$257M |
| Investment book (cash · short · long) | $107M · — · — · current ratio 1.12 |
The figures, as filed
| Fiscal year end | 2023-12-31 |
| Revenue | $5.4B |
| Revenue, on the year | 9.6% |
| Revenue, a year over the record | 14.9% |
| Operating margin | 5.4% |
| Operating margin, prior year | −0.5% |
| Net margin | 2.9% |
| Research and development | not filed separately |
| Total debt | $4.7B |
| Equity of assets | 35.7% |
| Return on equity | 4.7% |
| Payout of profit | 112.3% |
| Dividend per share | $2.48 |
| Earnings per share | $2.13 |
| Book value per share | $46.63 |
| Revenue per share | $76.55 |
| Shares outstanding | 70,990,000 |
| Audited years read | 5 |
Peers: the median of 29 filers with $50M+ revenue in natural gas transmisison & distribution.
Health HarborSouthwest Gas Holdings sails as: Sound ship
Health watch · 12 monthsEarlier statements no longer to be relied onDirector or officer change ×5
No growth figure to set the speed.
🌊 Visit the Bay →- filed earlier statements no longer to be relied on in the last 12 months
Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.
- 10-Q · 2026-08-05
- 8-K · 2026-08-05 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits
- 8-K · 2026-05-11 · 5.07 Submission of Matters to a Vote of Security Holders
- 10-Q · 2026-05-05
- 8-K · 2026-05-05 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits
- DEF 14A · 2026-03-23
Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company