/
The Company, a Delaware corporation, is a holding company headquartered in Las Vegas, Nevada, owning all of the shares of common stock of Southwest Gas and, until the Centuri IPO on April 22, 2024, all of the shares of common stock of Centuri . The Company operated two reportable segments until August 2025, the Natural Gas Distribution segment (Southwest Gas) and Utility Infrastructure Services…
$92.06
$0.89 (-0.96%)
EOD Jul 17, 2026
24.42% operating margin is above average. ROIC at 4.71%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 21.6% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 149% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$252M. The business is consuming cash, not generating it.
14.4x earnings. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$1.78B
▼ -21.6% YoY
Net Income (TTM)
$464M
▲ +121.2% YoY
Op. Margin
26.95%
▲ +8.0pp YoY
ROIC
5.29%
▲ +0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$427M
▼ -149.4% YoY
Op. Cash Flow (TTM)
$427M
▼ -59.0% YoY
Net Debt
$3.02B
Cash & Equiv.
$485M
5Y CAGR: -10.1%
Continue Research
At a P/E of 14.4, Southwest Gas Holdings (SWX)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Southwest Gas Holdings scores 24/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 2.7%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Southwest Gas Holdings scores 24 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 27.0% operating margin and a 5.3% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Southwest Gas Holdings pays a regular dividend of about $2.46 per share per year (typically in quarterly installments), a yield of roughly 2.7% at the current price. That is a payout ratio of about 38.5% of earnings, so the dividend is amply covered by earnings. Southwest Gas Holdings has grown the dividend at roughly 6.6% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For SWX's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. you should weigh SWX's valuation and scores 24/100 on quality (lower-quality). It also yields about 2.7%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.