Southwest Gas Holdings, Inc. (SWX) Earnings History
Annual and quarterly earnings data from 1994 to 2025
Loading earnings history...
SWX EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
SWX Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 29.3% | 24.4% | 22.7% |
| 2024 | 19.8% | 9.5% | 3.9% |
| 2023 | 18.8% | 7.7% | 2.8% |
| 2022 | 20.1% | -0.5% | -4.1% |
| 2021 | 22.3% | 10.0% | 5.5% |
Download Data
Export SWX earnings history in CSV or JSON format
Free sign-in required to download data
Southwest Gas Holdings, Inc. (SWX) Earnings Overview
As of May 8, 2026, Southwest Gas Holdings, Inc. (SWX) reported trailing twelve-month net income of $464M, reflecting +120.3% year-over-year growth. The company earned $6.40 per diluted share over the past four quarters, with a net profit margin of 22.7%.
Looking at the long-term picture, SWX's 5-year EPS compound annual growth rate (CAGR) stands at +8.0%, showing solid earnings momentum. The company achieved its highest annual net income of $440M in fiscal 2025, representing a new all-time high.
Southwest Gas Holdings, Inc. maintains industry-leading profitability with a gross margin of 29.3%, operating margin of 24.4%, and net margin of 22.7%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including NJR ($341M net income, 16.5% margin), SR ($358M net income, 11.0% margin), NWN ($123M net income, 8.8% margin), SWX has outperformed on profitability metrics. Compare SWX vs NJR →
SWX Earnings vs Peers
Earnings metrics vs comparable public companies
SWX Historical Earnings Data (1994–2025)
32 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $440M | +121.2% | $474M | $6.08 | 22.7% | 24.4% |
| 2024 | $199M | +31.8% | $484M | $2.76 | 3.9% | 9.5% |
| 2023 | $151M | +174.2% | $418M | $2.13 | 2.8% | 7.7% |
| 2022 | -$203M | -201.3% | -$24M | $-24.75 | -4.1% | -0.5% |
| 2021 | $201M | -13.6% | $370M | $3.39 | 5.5% | 10.0% |
| 2020 | $232M | +8.6% | $423M | $4.14 | 7.0% | 12.8% |
| 2019 | $214M | +17.4% | $372M | $3.94 | 6.9% | 11.9% |
| 2018 | $182M | -6.0% | $357M | $3.68 | 6.3% | 12.4% |
| 2017 | $194M | +27.5% | $324M | $4.04 | 7.6% | 12.7% |
| 2016 | $152M | +9.9% | $296M | $3.18 | 6.2% | 12.0% |
See SWX's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs SWX Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare SWX vs GEV
Side-by-side business, growth, and profitability comparison vs GE Vernova Inc..
Start ComparisonSWX — Frequently Asked Questions
Quick answers to the most common questions about buying SWX stock.
Is SWX growing earnings?
SWX EPS is $6.40, with earnings growth accelerating to +120.3%. This exceeds the 5-year CAGR of +8.0%. TTM net income reached $464M.
What are SWX's profit margins?
Southwest Gas Holdings, Inc. net margin is +22.7%, with operating margin at +24.4%. Above-average margins indicate pricing power.
How consistent are SWX's earnings?
SWX earnings data spans 1994-2025. The accelerating earnings trend is +120.3% YoY. Historical data enables comparison across business cycles.