Last 48 quarters of trend data · Utilities · Gas Utilities
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 25.42 | 113.25 | 38.22 | 11.37 | 21.28 | 5.24 | — | 11.36 | 13.81 | 4610.00 | 70.38 | 15.60 | 15.68 | 335.61 | 39.78 | 23.30 | — | — | — | 12.39 | 15.23 |
| — | +2062.6% | — | +0.1% | +54.1% | -99.9% | — | -27.2% | -11.9% | +1273.6% | +76.9% | -33.1% | — | — | — | +88.1% | — | — | — | +46.4% | +80.5% | |
| P/S Ratio | 3.84 | 4.98 | 4.50 | 2.69 | 3.02 | 4.47 | 1.20 | 1.00 | 1.01 | 3.70 | 1.07 | 0.87 | 0.83 | 0.93 | 0.88 | 0.67 | 0.73 | 1.04 | 1.28 | 0.94 | 0.98 |
| — | +11.3% | +275.9% | +169.8% | +200.3% | +20.9% | +11.6% | +15.4% | +20.7% | +298.9% | +21.5% | +29.9% | +13.8% | -11.0% | -30.9% | -29.1% | -25.5% | -7.3% | +7.9% | -16.0% | +2.4% | |
| P/B Ratio | 1.67 | 1.45 | 1.56 | 1.54 | 1.47 | 1.44 | 1.30 | 1.38 | 1.38 | 1.46 | 1.38 | 1.63 | 1.33 | 1.28 | 1.33 | 1.25 | 1.29 | 1.33 | 1.63 | 1.31 | 1.35 |
| — | +0.3% | +20.1% | +11.6% | +5.9% | -1.2% | -5.7% | -15.3% | +3.8% | +13.9% | +3.4% | +30.3% | +3.3% | -3.6% | -18.3% | -5.0% | -4.4% | +2.9% | +28.1% | -1.2% | +9.6% | |
| P/FCF | — | — | — | — | — | 2.12 | — | 12.48 | — | 34.31 | 15.22 | 4.24 | 11.07 | — | — | 1.64 | — | — | — | 49.99 | — |
| — | — | — | — | — | -93.8% | — | +194.2% | — | — | — | +158.1% | — | — | — | -96.7% | — | — | — | — | — | |
| EV / EBITDA | 12.25 | 47.05 | 14.93 | 7.31 | 8.82 | 18.09 | 12.20 | 7.48 | 8.26 | 26.35 | 13.49 | 9.33 | 9.76 | 14.44 | 12.32 | 9.36 | — | 16.19 | 19.08 | 8.99 | 11.94 |
| — | +160.1% | +22.4% | -2.2% | +6.8% | -31.3% | -9.6% | -19.9% | -15.4% | +82.5% | +9.5% | -0.3% | — | -10.9% | -35.4% | +4.2% | — | -6.6% | +55.9% | +38.1% | +81.8% | |
| EV / EBIT | 20.13 | 47.05 | 33.15 | 10.13 | 12.40 | 40.10 | 21.28 | 11.74 | 13.20 | 67.64 | 24.64 | 14.68 | 15.50 | 32.03 | 23.20 | 15.09 | — | 52.44 | 68.46 | 15.41 | 22.71 |
| — | +17.3% | +55.8% | -13.7% | -6.0% | -40.7% | -13.6% | -20.0% | -14.9% | +111.2% | +6.2% | -2.7% | — | -38.9% | -66.1% | -2.1% | — | -46.8% | +128.2% | +54.4% | +126.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.3% | 93.3% | 89.3% | 58.8% | 37.9% | 44.0% | 19.8% | 27.2% | 25.1% | 32.5% | 17.0% | 19.0% | 19.8% | 16.0% | 16.9% | 21.4% | 22.0% | 16.9% | 15.4% | 24.9% | 21.9% |
| — | +111.9% | +350.8% | +116.5% | +50.9% | +35.6% | +16.7% | +43.0% | +26.9% | +103.1% | +0.6% | -11.3% | -9.8% | -5.4% | +9.6% | -14.1% | +0.6% | +11.4% | -21.7% | -23.2% | -21.9% | |
| Operating Margin | 24.4% | 11.9% | 23.5% | 37.5% | 33.0% | 11.7% | 8.5% | 15.5% | 14.2% | 5.6% | 7.0% | 10.0% | 10.1% | 5.2% | 6.6% | 8.4% | -20.3% | 4.4% | 4.0% | 13.3% | 10.5% |
| — | +2.1% | +176.3% | +142.5% | +131.7% | +108.4% | +21.0% | +54.6% | +41.0% | +8.8% | +7.4% | +18.6% | +149.7% | +16.1% | +64.5% | -36.6% | -293.9% | +69.2% | -44.8% | -32.1% | -37.4% | |
| Net Margin | 22.7% | 4.3% | 11.8% | 23.6% | 14.2% | 85.3% | -1.1% | 8.8% | 7.3% | 0.1% | 1.6% | 5.5% | 5.3% | 0.3% | 2.2% | 2.9% | -19.7% | -1.1% | -0.6% | 7.6% | 6.4% |
| — | -95.0% | +1122.8% | +169.3% | +95.4% | +105921.9% | -174.1% | +58.3% | +36.6% | -70.9% | -30.5% | +93.8% | +127.0% | +125.3% | +489.1% | -62.3% | -406.2% | +16.0% | -118.8% | -42.7% | -43.1% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.5% | 0.3% | 1.0% | 3.4% | 1.7% | 6.7% | -0.3% | 3.1% | 2.5% | 0.0% | 0.5% | 2.6% | 2.1% | 0.1% | 0.8% | 1.4% | -8.3% | -0.3% | -0.2% | 2.8% | 2.2% |
| — | -95.4% | +413.2% | +12.3% | -31.3% | +84939.2% | -162.8% | +18.1% | +17.7% | -91.7% | -38.3% | +87.2% | +125.8% | +127.4% | +562.4% | -51.3% | -471.3% | +8.1% | -121.9% | -29.6% | -39.8% | |
| ROA | 3.9% | 0.1% | 0.4% | 1.3% | 0.7% | 2.4% | -0.1% | 0.9% | 0.8% | 0.0% | 0.2% | 0.7% | 0.6% | 0.0% | 0.2% | 0.4% | -2.1% | -0.1% | -0.1% | 0.7% | 0.6% |
| — | -94.9% | +480.2% | +40.6% | -14.9% | +99887.5% | -169.1% | +27.9% | +25.8% | -91.2% | -36.8% | +101.1% | +128.8% | +128.8% | +584.3% | -50.3% | -452.9% | +20.7% | -118.0% | -44.3% | -49.9% | |
| ROIC | 4.7% | 0.4% | 0.9% | 2.3% | 1.8% | 0.4% | 0.8% | 1.8% | 1.6% | 0.2% | 0.8% | 1.4% | 1.2% | 0.5% | 0.7% | 1.2% | -2.3% | 0.4% | 0.4% | 1.4% | 1.0% |
| — | -2.9% | +2.7% | +31.0% | +7.7% | +101.3% | +12.5% | +27.1% | +35.4% | -65.3% | +0.8% | +21.7% | +152.1% | +34.3% | +105.5% | -14.9% | -321.2% | +47.7% | -50.5% | -39.4% | -49.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.89 | 0.86 | 0.85 | 0.86 | 0.89 | 0.89 | 1.14 | 1.34 | 1.37 | 1.39 | 1.42 | 1.59 | 1.55 | 1.58 | 1.56 | 1.49 | 1.86 | 1.78 | 1.70 | 1.74 | 2.01 |
| — | -3.6% | -25.1% | -36.3% | -35.4% | -36.0% | -19.8% | -15.4% | -11.3% | -11.6% | -9.3% | +6.7% | -16.9% | -11.5% | -8.2% | -14.8% | -7.2% | +33.1% | +66.4% | +69.1% | +97.9% | |
| Debt / EBITDA | 4.36 | 70.59 | 21.64 | 11.00 | 14.16 | 30.21 | 23.59 | 15.37 | 17.04 | 53.84 | 29.03 | 19.24 | 21.18 | 32.19 | 27.19 | 20.54 | — | 37.68 | 39.65 | 21.72 | 29.15 |
| — | +133.6% | -8.2% | -28.4% | -16.9% | -43.9% | -18.8% | -20.1% | -19.5% | +67.2% | +6.8% | -6.3% | — | -14.6% | -31.4% | -5.5% | — | +4.3% | +80.8% | +88.6% | +142.7% | |
| Current Ratio | 1.28 | 0.89 | 1.12 | 1.45 | 1.28 | 1.55 | 1.01 | 0.79 | 0.80 | 0.85 | 1.58 | 1.04 | 1.12 | 1.90 | 2.12 | 1.40 | 1.08 | 1.30 | 0.70 | 0.78 | 0.52 |
| — | -42.7% | +10.8% | +82.8% | +59.7% | +80.8% | -36.2% | -23.5% | -28.4% | -55.0% | -25.4% | -26.1% | +3.1% | +45.9% | +202.9% | +80.2% | +108.8% | +26.6% | -11.6% | -19.5% | -45.7% | |
| Quick Ratio | 1.18 | 0.76 | 0.99 | 1.32 | 1.18 | 1.43 | 0.94 | 0.79 | 0.80 | 0.85 | 1.58 | 1.04 | 1.12 | 1.90 | 2.12 | 1.40 | 1.08 | 1.30 | 0.70 | 0.78 | 0.52 |
| — | -46.7% | +5.3% | +66.6% | +47.1% | +67.5% | -40.3% | -23.5% | -28.4% | -55.0% | -25.4% | -26.1% | +3.1% | +45.9% | +202.9% | +80.2% | +108.8% | +26.6% | -11.6% | -19.5% | -45.7% | |
| Interest Coverage | 2.63 | 1.19 | 1.66 | 5.04 | 3.80 | 1.07 | 1.59 | 2.89 | 2.51 | 0.68 | 1.33 | 2.46 | 2.13 | 1.04 | 1.51 | 1.99 | -3.84 | 0.80 | 0.80 | 3.51 | 3.00 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying SWX stock.
Southwest Gas Holdings, Inc.'s current P/E is 25.4x. The average P/E over the last 4 quarters is 46.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Southwest Gas Holdings, Inc.'s current operating margin is 24.4%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Southwest Gas Holdings, Inc.'s business trajectory between earnings reports.