Southwest Gas Holdings (SWX) Financial Ratios: P/E, ROE & More

Southwest Gas Holdings (SWX) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Southwest Gas Holdings had a P/E ratio of 13.13 (down from 25.52), return on equity of 6.1% (down from 6.2%), debt-to-equity of 0.89 (down from 1.13) and a current ratio of 1.28 (up from 0.80). A current ratio of 1.28 means current assets exceed current liabilities. Its dividend yield was 3.10% with a payout ratio of 40.6%.

Southwest Gas Holdings Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	13.13	25.52	30.03	-	21.07	14.86
Forward P/E	20.42	20.51	23.83	19.86	15.70	14.72
P/S Ratio	2.98	2.05	1.79	0.84	1.15	1.05
P/B Ratio	1.46	1.38	1.33	1.29	1.34	1.22
Price/Tangible Book	1.46	1.45	1.80	1.83	3.61	1.48
Price/FCF	-	9.96	-	-	-	-
Price/OCF	10.39	3.74	8.90	10.19	37.98	5.51
PEG Ratio	1.66	2.50	4.63	6.62	3.29	2.74
Enterprise Value Ratios
EV/Revenue	4.38	3.99	3.91	2.09	2.27	1.92
EV/EBITDA	10.35	13.60	14.57	11.52	11.52	8.60
EV/EBIT	17.31	23.35	25.76	24.12	23.54	15.68
EV/FCF	-	19.40	-	-	-	-
Profitability & Returns
Return on Equity (ROE)	6.14%	6.22%	4.22%	-6.21%	6.92%	8.80%
Return on Assets (ROA)	2.73%	2.21%	1.92%	2.07%	2.07%	2.98%
Return on Capital Employed (ROCE)	5.20%	4.10%	3.80%	4.40%	3.70%	5.20%
Leverage & Solvency Ratios
Debt/Equity	0.89	1.13	1.59	1.90	2.04	1.04
Debt/EBITDA	4.27	5.76	6.60	5.90	7.61	3.86
Debt/FCF	-	8.22	-	-	-	-
Liquidity Ratios
Current Ratio	1.28	0.80	1.12	1.08	0.52	0.95
Quick Ratio	0.92	0.34	0.65	0.32	0.33	0.77
Efficiency Ratios
Asset Turnover	0.17	0.21	0.20	0.38	0.34	0.39
Inventory Turnover	11.11	18.93	22.23	56.56	50.66	46.36
Yield & Distribution Ratios
Earnings Yield	7.62%	3.92%	3.33%	-4.90%	4.75%	6.73%
FCF Yield	-4.36%	10.04%	-5.66%	-10.89%	-14.28%	-5.76%
Dividend Yield	3.10%	3.51%	3.92%	3.97%	3.36%	4.46%
Payout Ratio	40.59%	89.34%	115.70%	-	68.84%	54.02%
Buyback Yield	-0.42%	-1.47%	-8.29%	-10.63%	-5.68%	-3.25%
Total Return	2.68%	2.04%	-4.37%	-6.66%	-2.31%	1.21%

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Southwest Gas Holdings Financial Ratios

What is Southwest Gas Holdings's P/E ratio?

Southwest Gas Holdings's P/E ratio was 13.13 for fiscal 2025 (period ended Dec 31, 2025). It was 25.52 a year earlier.

What is Southwest Gas Holdings's return on equity?

Southwest Gas Holdings's return on equity (ROE) was 6.1% for fiscal 2025 (period ended Dec 31, 2025). It was 6.2% a year earlier.

What is Southwest Gas Holdings's debt-to-equity ratio?

Southwest Gas Holdings's debt-to-equity ratio was 0.89 for fiscal 2025 (period ended Dec 31, 2025). It was 1.13 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition