Southwest Gas Holdings, Inc. (SWX)
Utilities · NYQ · US
Fundamentals
Valuation and ratings
Southwest Gas Holdings, Inc. trades at USD92.95, which is 37% below the USD127.05 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 57 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 27.8 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Southwest Gas Holdings, Inc.
Southwest Gas Holdings, Inc., through its subsidiary, Southwest Gas Corporation, purchases, distributes, and transports natural gas for residential, commercial, and industrial customers in Arizona, Nevada, and California in the United States. The company offers tariff sales and transportation services. It also operates a pipeline transmission system, including an LNG storage facility. As of December 31, 2025, the company served approximately 2,281,000 customers with 1,224,000 in Arizona, 849,000 in Nevada, and 208,000 in California. Southwest Gas Holdings, Inc. was founded in 1931 and is headquartered in Las Vegas, Nevada.
SWX passes 4 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
10 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Keith Meister, Corvex Management LP$375.25M · 14.9% of book
- Lee Ainslie, MAVERICK CAPITAL LTD$184.83M · 2.1% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$101.15M · 0.1% of book
- Steve Cohen, Point72 Asset Management, L.P.$44.74M · 0.1% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$39.89M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Southwest Gas Holdings, Inc. (SWX) undervalued?
Against our discounted cash flow estimate of USD127.05, SWX at USD92.95 is 37% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own SWX?
10 of the institutions we track reported a position in SWX in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is SWX's P/E ratio?
SWX trades at 27.8 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for SWX, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.