SWX Southwest Gas Holdings, Inc. Common Stock (DE)
$92.08
Price · Aug 19, 2026
Fundamentals as of Aug 5, 2026
52W Range
$76–$94
87% of range
Analyst Rating
STRONG BUY
13 analysts
Price Target
$103
+12% upside
P/E (TTM)
15.2
ROE
11.2%
Net Profit Margin
—
About Southwest Gas Holdings, Inc. Common Stock (DE) Company overview from Wikipedia
Southwest Gas Holdings, Inc. is an investor-owned utility based in Las Vegas, Nevada, United States.
Read more
Southwest Gas Holdings, Inc. (NYSE: SWX) is an investor-owned utility based in Las Vegas, Nevada, United States.
The company provides natural gas service to over 2 million residential, commercial, and industrial customers in parts of Arizona, Nevada, and California. At the end of 2021, Southwest had 1.15 million customers located in Arizona, 0.8 million in Nevada, and 0.2 million in California.
## History
The company was founded in Barstow, California, in 1931, and soon expanded to the nearby town of Victorville. Natural gas was brought into southern Nevada in 1953, and Southwest Gas began service to the burgeoning communities of Las Vegas and Henderson the following year.
On January 24, 1956, Southwest Gas Corporation became a publicly owned company. Expansion into Arizona occurred in 1957 with the acquisition of Natural Gas Service of Arizona, which served customers in Gila, Greenlee, and Pinal counties.
In 1963, with the completion of a 250-mile pipeline in northern Nevada, the company was able to grow once again by extending its service territory to include Carson City. Several years later it began serving customers as far east as Elko in the northern part of the state. Expansion also occurred during this time in California with expansion from its Victorville operations to Big Bear.
During the next several decades the company made several more acquisitions and expanded in parts of its tri-state service territory. In 1979, the purchase of the gas system of what is now Tucson Electric Power, and the 1984 purchase of the gas system of Arizona Public Service Company, added the Phoenix area to the company's customer base. During a time of unprecedented growth in the desert Southwest, Southwest Gas was serving some of the fastest-growing areas in the country. In 2005, the company acquired service territory in South Lake Tahoe from Avista, enabling it to serve customers contiguously around Lake Tahoe in California and Nevada. The company is the largest distributor of natural gas in Arizona and Nevada.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
SWX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$92.08
Market Cap
$6.66B
P/E (TTM)
15.2
EPS (TTM)
$6.08
Revenue (TTM)
$5.43B
Div Yield
2.7%
ROE
11.2%
Debt/Equity
0.9
52W Range
$76 – $94
SWX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$5.43B
2022-09-30
→
2023-12-31
EPS
$6.08
2022-09-30
→
2025-12-31
Free Cash Flow
$-252M
2022-09-30
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
SWX
Peer Median
P/E (TTM)
15.2
17.0
P/S (TTM)
1.3
2.7
P/B
1.7
1.5
EV / EBITDA
20.2
—
Price / FCF
-26.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
SWX
Peer Median
ROA
3.9%
4.0%
ROE
11.2%
10.0%
ROIC
4.5%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
SWX
Peer Median
Debt / Equity
0.9
—
Current Ratio
1.3
0.8
Quick Ratio
0.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
SWX
Peer Median
Revenue YoY
9.6%
—
Revenue CAGR 3Y
18.1%
—
EPS YoY
120.3%
—
Net Income YoY
121.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
SWX
Peer Median
Payout Ratio
40.6%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
2.7%
Payout Ratio
40.6%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| May 15, 2026 | $0.6450 |
| Feb. 17, 2026 | $0.6200 |
| Nov. 17, 2025 | $0.6200 |
| Aug. 15, 2025 | $0.6200 |
| May 15, 2025 | $0.6200 |
| Feb. 18, 2025 | $0.6200 |
| Nov. 15, 2024 | $0.6200 |
| Aug. 15, 2024 | $0.6200 |
| May 14, 2024 | $0.6200 |
| Feb. 14, 2024 | $0.6200 |
| Nov. 14, 2023 | $0.6200 |
| Aug. 14, 2023 | $0.6200 |
| May 12, 2023 | $0.6200 |
| Feb. 14, 2023 | $0.6200 |
| Nov. 14, 2022 | $0.6200 |
| Aug. 12, 2022 | $0.6200 |
| May 13, 2022 | $0.6200 |
| Feb. 14, 2022 | $0.5950 |
| Nov. 12, 2021 | $0.5950 |
| Aug. 13, 2021 | $0.5950 |
SWX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
13 analysts
- Strong Buy 7 53.8%
- Buy 5 38.5%
- Hold 1 7.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
7 analysts · 2026-08-16
Median
$103.00
← Below all targets
$92.08
Low
$94.00
High
$107.00
Median target
$103.00
+11.9%
Mean target
$102.71
+11.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Beat Rate
62.5%
Avg Surprise
0.05%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.58 | $0.46 | 0.12% |
| March 31, 2026 | $1.91 | $2.12 | -0.21% |
| Dec. 31, 2025 | $1.36 | $1.35 | 0.01% |
| June 30, 2025 | $0.53 | $0.44 | 0.09% |
| March 31, 2025 | $1.65 | $1.52 | 0.13% |
| Dec. 31, 2024 | $1.39 | $1.24 | 0.15% |
| Sept. 30, 2000 | $-0.31 | $-0.45 | 0.14% |
| June 30, 2000 | $-0.31 | $-0.24 | -0.07% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| SWX | $5.78B | 13.2 | 9.6% | — | 11.2% | — |
| ATO | $27.59B | 22.9 | 12.9% | 25.5% | 9.0% | — |
| UGI | $7.13B | 10.8 | 1.1% | 9.3% | 14.5% | — |
| NFG | $8.35B | 16.3 | 17.1% | 22.8% | 17.4% | — |
| NJR | $4.84B | 14.5 | 9.9% | 24.8% | 13.8% | — |
| OGS | $4.84B | 17.7 | — | — | 8.0% | — |
| SR | — | — | — | — | — | — |
| MDU | — | 21.0 | 6.7% | 10.2% | 6.9% | — |
| CPK | — | 20.9 | 18.1% | 15.1% | 9.1% | — |
| NWN | $1.94B | 16.9 | 11.8% | 8.8% | 7.9% | — |
| SPH | — | 11.5 | 7.9% | 7.4% | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | · | · | $5.43B | $4.96B | $3.68B | |
| Cost of Revenue | · | $2.42B | $2.62B | $2.53B | $1.96B | |
| Operating Expenses | $1.47B | $2.07B | $2.24B | $4.98B | $3.31B | |
| Operating Income | $474M | $406M | $293M | $-24M | $370M | |
| Interest Expense | · | · | $292M | $243M | $119M | |
| Other Non-op | $60M | $54M | $71M | $-6M | $-3M | |
| Pretax Income | $331M | $254M | $169M | $-273M | $247M | |
| Income Tax | $96M | $33M | $29M | $-76M | $40M | |
| Net Income | $440M | $199M | $151M | $-203M | $201M | |
| EPS (Basic) | $6.09 | $2.77 | $2.13 | $-3.10 | $3.39 | |
| EPS (Diluted) | $6.08 | $2.76 | $2.13 | $-3.10 | $3.39 | |
| Shares (Basic) | 72,162,000 | 71,841,000 | 70,787,000 | 65,558,000 | 59,145,000 | |
| Shares (Diluted) | 72,337,000 | 72,032,000 | 70,990,000 | 65,558,000 | 59,259,000 | |
| EBITDA | $474M | $484M | $418M | $-24M | $370M |
Balance Sheet 20
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $577M | $315M | $107M | $123M | $223M | |
| Receivables | $171M | $203M | $887M | $866M | $707M | |
| Prepaid Expense | $235M | $141M | $219M | $434M | $292M | |
| Current Assets | $1.19B | $1.46B | $1.88B | $3.71B | $1.61B | |
| Accum. Depreciation | · | $741M | $676M | $597M | $512M | |
| Goodwill | $11M | $11M | $790M | $787M | $1.78B | |
| Other Non-current Assets | $357M | $396M | $414M | $396M | $459M | |
| Total Assets | $10.43B | $12.07B | $9.28B | $13.20B | $12.77B | |
| Accounts Payable | $226M | $191M | $347M | $662M | $353M | |
| Short-term Debt | $0 | $680M | $628M | $1.54B | $1.91B | |
| Current Liabilities | $930M | $1.83B | $1.68B | $3.42B | $3.11B | |
| Other Non-current Liabilities | $2.11B | $3.05B | $2.16B | $2.15B | $2.39B | |
| Long-term Debt | $3.51B | $3.50B | $4.65B | $726M | $690M | |
| Total Debt | $3.51B | $5.06B | $5.28B | $5.99B | $6.32B | |
| Common Stock | $74M | $73M | $73M | $69M | $62M | |
| Retained Earnings | $1.02B | $759M | $739M | $747M | $1.11B | |
| AOCI | $-35M | $-49M | $-44M | $-44M | $-47M | |
| Stockholders' Equity | $3.96B | $3.50B | $3.31B | $3.06B | $2.95B | |
| Liabilities + Equity | $10.43B | $12.07B | $11.87B | $13.20B | $12.77B | |
| Shares Outstanding | 72,224,593 | 71,783,000 | 71,564,000 | 67,119,000 | 60,422,000 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| D&A | $331M | $303M | $295M | $470M | $371M | |
| Stock-based Comp | $15M | $11M | $6M | $9M | $9M | |
| Deferred Tax | $94M | $31M | $29M | $-91M | $48M | |
| Amort. of Intangibles | · | $27M | $27M | $30M | $17M | |
| Operating Cash Flow | $556M | $1.36B | $509M | $407M | $111M | |
| CapEx | $808M | $847M | $766M | $859M | $716M | |
| Investing Cash Flow | $-25M | $-922M | $151M | $-839M | $-3.04B | |
| Debt Issued | $0 | $0 | $848M | $1.07B | $1.66B | |
| Net Debt Issued | $0 | $-276M | $797M | $568M | $1.21B | |
| Stock Issued | $20M | $9M | $252M | $462M | $214M | |
| Net Stock Activity | $20M | $9M | $252M | $462M | $214M | |
| Dividends Paid | $179M | $178M | $175M | $161M | $138M | |
| Financing Cash Flow | $-318M | $-176M | $-701M | $356M | $3.06B | |
| Net Change in Cash | $213M | $257M | $-40M | $-76M | $139M | |
| Taxes Paid | $40M | $10M | $9M | $12M | $4M | |
| Free Cash Flow | $-252M | $410M | $-363M | $-452M | $-604M | |
| Levered FCF | · | · | $-594M | $-628M | $-704M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Operating Margin | · | · | 7.7% | -0.49% | 10.0% | |
| Net Margin | · | · | 2.8% | -4.1% | 5.5% | |
| Pretax Margin | · | · | 3.6% | -5.5% | 6.7% | |
| EBITDA Margin | · | · | 7.7% | -0.49% | 10.0% | |
| ROA | 3.9% | 1.7% | 1.2% | -1.6% | 1.9% | |
| ROE | 11.2% | 5.8% | 4.7% | -6.8% | 7.1% | |
| ROIC | 4.5% | 4.8% | 3.8% | -0.19% | 3.3% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 1.3 | 0.8 | 1.1 | 1.1 | 0.5 | |
| Quick Ratio | 0.8 | 0.6 | 0.6 | 0.3 | 0.3 | |
| Debt / Equity | 0.9 | 1.4 | 1.6 | 2.0 | 2.1 | |
| LT Debt / Equity | 0.9 | 1.2 | 1.4 | 1.4 | 1.4 | |
| Interest Coverage | · | · | 1.4 | -0.1 | 3.1 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Asset Turnover | · | · | 0.4 | 0.4 | 0.3 | |
| Receivables Turnover | · | · | 6.2 | 6.3 | 6.0 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue YoY | · | · | 9.6% | 34.8% | 11.6% | |
| Revenue CAGR 3Y | · | · | 18.1% | · | · | |
| EPS YoY | 120.3% | 29.6% | · | · | -18.1% | |
| EPS CAGR 3Y | · | -6.6% | -19.9% | · | · | |
| EPS CAGR 5Y | 8.0% | · | · | · | · | |
| Net Income YoY | 121.2% | 31.8% | · | · | -13.6% | |
| Net Income CAGR 3Y | · | -0.33% | -13.4% | · | · | |
| Net Income CAGR 5Y | 13.6% | · | · | · | · | |
| Dividend CAGR 5Y | 7.3% | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue TTM | $5.01B | $5.01B | $5.43B | $4.96B | $3.68B | |
| Net Income TTM | $440M | $199M | $151M | $-203M | $201M | |
| Market Cap | $5.78B | $5.08B | $4.53B | $4.15B | $4.23B | |
| Enterprise Value | $8.71B | $9.77B | $9.71B | $10.02B | $10.33B | |
| P/E | 13.2 | 25.6 | 29.7 | -20.0 | 20.7 | |
| P/S | 1.2 | 1.0 | 0.8 | 0.8 | 1.1 | |
| P/B | 1.5 | 1.4 | 1.4 | 1.4 | 1.4 | |
| P / Tangible Book | 1.5 | 1.5 | 1.8 | 1.8 | 3.6 | |
| P / Cash Flow | 10.4 | 3.7 | 8.9 | 10.2 | 38.0 | |
| P / FCF | -23.0 | 12.4 | -12.5 | -9.2 | -7.0 | |
| EV / EBITDA | 18.4 | 20.2 | 23.2 | -410.7 | 28.0 | |
| EV / FCF | -34.6 | 23.8 | -26.7 | -22.2 | -17.1 | |
| EV / Revenue | 1.7 | 1.9 | 1.8 | 2.0 | 2.8 | |
| Dividend Yield | 3.1% | 3.5% | 3.9% | 3.9% | 3.3% | |
| Earnings Yield | 7.6% | 3.9% | 3.4% | -5.0% | 4.8% | |
| Payout Ratio | 40.6% | 89.4% | 115.7% | -79.0% | 68.8% | |
| Annual Payout | $179M | $178M | $175M | $161M | $138M |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | · | · | · | · | · | $1.08B | $1.18B | $1.58B | · | $1.17B | $1.29B | $1.60B | · | $1.13B | |
| Cost of Revenue | · | · | · | · | $0 | $529M | · | $645M | $605M | $516M | · | $686M | $716M | $604M | $700M | $680M | |
| Operating Expenses | $274M | $366M | $-934M | $280M | $332M | $533M | $-792M | $339M | $1.10B | $1.42B | $-1.54B | $1.11B | $1.21B | $1.47B | $1.71B | $1.08B | |
| Operating Income | $84M | $219M | $141M | $37M | $64M | $214M | $145M | $20M | $83M | $158M | $13M | $60M | $85M | $135M | $-288M | $50M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $72M | · | $72M | $69M | $77M | · | $64M | |
| Other Non-op | $11M | $11M | $18M | $15M | $18M | $9M | $5M | $17M | $15M | $18M | $19M | $14M | $20M | $18M | $-6M | $2M | |
| Pretax Income | $52M | $185M | $148M | $3M | $29M | $168M | $142M | $-17M | $24M | $105M | $55M | $3M | $35M | $76M | $-371M | $-13M | |
| Income Tax | $9M | $46M | $17M | $-803.0K | $30M | $34M | $20M | $-8M | $4M | $17M | $-3M | $-1M | $5M | $29M | $-94M | $-2M | |
| Net Income | $42M | $138M | $68M | $263M | $-40M | $114M | $92M | $289.0K | $18M | $88M | $73M | $3M | $29M | $46M | $-281M | $-12M | |
| EPS (Basic) | $0.58 | $1.91 | $0.94 | $3.64 | $-0.56 | $1.58 | $1.29 | $0.00 | $0.26 | $1.22 | $1.01 | $0.05 | $0.40 | $0.67 | $-4.40 | $-0.18 | |
| EPS (Diluted) | $0.58 | $1.91 | $0.94 | $3.63 | $-0.56 | $1.58 | $1.29 | $0.00 | $0.25 | $1.22 | $1.02 | $0.04 | $0.40 | $0.67 | $-4.40 | $-0.18 | |
| Shares (Basic) | 72,516,000 | 72,441,000 | -144,147,000 | 72,209,000 | 72,088,000 | 72,012,000 | -143,606,000 | 71,880,000 | 71,839,000 | 71,728,000 | -140,640,000 | 71,626,000 | 71,536,000 | 68,265,000 | -129,381,000 | 67,157,000 | |
| Shares (Diluted) | 72,665,000 | 72,566,000 | -144,294,000 | 72,405,000 | 72,088,000 | 72,138,000 | -143,951,000 | 72,086,000 | 72,015,000 | 71,882,000 | -141,002,000 | 71,851,000 | 71,722,000 | 68,419,000 | -129,498,000 | 67,157,000 | |
| EBITDA | $84M | $219M | · | $37M | $95M | $200M | · | $61M | $83M | $158M | · | · | · | · | · | · |
Balance Sheet 20
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $271M | $485M | $577M | $779M | $356M | $406M | $315M | $457M | $600M | $458M | · | $105M | $221M | $82M | · | $175M | |
| Receivables | $119M | $169M | $171M | $111M | $705M | $694M | $203M | $673M | $796M | $843M | · | $903M | $936M | $903M | · | $780M | |
| Prepaid Expense | $319M | $238M | $235M | $211M | $217M | $257M | $141M | $261M | $240M | $215M | · | $230M | $220M | $210M | · | $317M | |
| Current Assets | $868M | $1.06B | $1.19B | $1.24B | $1.43B | $1.43B | $1.46B | $1.46B | $1.73B | $1.78B | · | $2.00B | $2.24B | $2.26B | · | $1.71B | |
| Accum. Depreciation | · | · | · | · | $796M | $765M | · | $726M | $711M | $692M | · | $677M | $653M | $625M | · | $595M | |
| Goodwill | $11M | $11M | $11M | $11M | $787M | $781M | $11M | $788M | $786M | $787M | · | $787M | $790M | $787M | · | $1.74B | |
| Other Non-current Assets | $351M | $354M | $357M | $406M | $484M | $478M | $396M | $478M | $442M | $432M | · | $411M | $401M | $392M | · | $434M | |
| Total Assets | $10.48B | $10.41B | $10.43B | $10.33B | $12.21B | $12.08B | $12.07B | $11.87B | $11.99B | $11.89B | $9.28B | $11.84B | $11.95B | $11.81B | $13.20B | $13.10B | |
| Accounts Payable | $116M | $122M | $226M | $119M | $255M | $253M | $191M | $227M | $264M | $265M | · | $255M | $274M | $311M | · | $309M | |
| Short-term Debt | · | · | $0 | $0 | $260M | $690M | $680M | $663M | $111M | $644M | · | $58M | $16M | $468M | · | $381M | |
| Current Liabilities | $777M | $730M | $930M | $805M | $1.41B | $1.81B | $1.83B | $1.70B | $1.10B | $1.72B | · | $1.05B | $1.06B | $1.61B | · | $1.31B | |
| Other Non-current Liabilities | $2.16B | $2.14B | $2.11B | $2.09B | $2.28B | $2.18B | $3.05B | $2.15B | $2.15B | $2.16B | · | $2.16B | $2.19B | $2.20B | · | $2.40B | |
| Long-term Debt | $3.51B | $3.51B | $3.51B | · | $4.42B | $4.36B | $3.50B | $4.41B | $5.09B | $4.69B | · | $5.28B | $5.33B | $4.62B | · | $5.91B | |
| Total Debt | $3.51B | $3.51B | · | $3.51B | $4.68B | $5.05B | · | $5.08B | $5.21B | $5.34B | · | · | · | · | · | · | |
| Common Stock | $74M | $74M | $74M | $74M | $74M | $74M | $73M | $73M | $73M | $73M | · | $73M | $73M | $73M | · | $69M | |
| Retained Earnings | $1.16B | $1.16B | $1.02B | $999M | $770M | $827M | $759M | $711M | $755M | $782M | · | $669M | $697M | $743M | · | $1.11B | |
| AOCI | $-10M | $-34M | $-35M | $-38M | $-41M | $-49M | $-49M | $-44M | $-46M | $-46M | · | $-44M | $-41M | $-44M | · | $-50M | |
| Stockholders' Equity | $4.13B | $4.10B | $3.96B | $3.93B | $3.67B | $3.58B | $3.50B | $3.46B | $3.49B | $3.36B | · | $3.24B | $3.26B | $3.30B | · | $3.41B | |
| Liabilities + Equity | $10.48B | $10.41B | $10.43B | $10.33B | $12.21B | $12.08B | $12.07B | $11.87B | $11.99B | $11.89B | · | $11.84B | $11.95B | $11.81B | · | $13.10B | |
| Shares Outstanding | 72,443,899 | 72,373,216 | 72,224,593 | 72,180,889 | 71,978,168 | 71,910,713 | 71,782,756 | 71,740,332 | 71,709,298 | 71,665,592 | 71,564,000 | 71,515,428 | 71,473,472 | 71,330,991 | 67,119,000 | 67,063,730 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $78M | $100M | $21M | $79M | $69M | $94M | $14M | $74M | $96M | $119M | $-34M | $106M | $112M | $113M | $123M | $117M | |
| Stock-based Comp | $2M | $4M | $5M | $-1M | $5M | $5M | $3M | $1M | $6M | $961.0K | $-2M | $3M | $2M | $3M | $2M | $819.0K | |
| Operating Cash Flow | $146M | $162M | $82M | $57M | $126M | $291M | $201M | $304M | $307M | $544M | $311M | $186M | $198M | $-186M | $104M | $40M | |
| CapEx | $320M | $209M | $238M | $163M | $199M | $163M | $203M | $199M | $223M | $221M | $101M | $226M | $220M | $219M | $247M | $245M | |
| Investing Cash Flow | $-318M | $-204M | $-240M | $611M | $-209M | $-187M | $-234M | $-261M | $-226M | $-200M | $-206M | $-250M | $-228M | $836M | $-235M | $-238M | |
| Debt Issued | · | · | · | · | $74M | $40M | $-280M | $43M | $182M | $56M | $-196M | $17M | $721M | $306M | $298M | $11M | |
| Net Debt Issued | · | · | · | · | · | $-24M | · | · | · | $39M | · | · | · | · | · | · | |
| Stock Issued | $2M | $2M | $2M | $13M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $7M | $239M | $3M | $3M | |
| Net Stock Activity | · | $2M | · | · | · | $2M | · | · | · | $2M | · | · | · | · | · | · | |
| Dividends Paid | $47M | $45M | $45M | $45M | $45M | $45M | $44M | $44M | $44M | $44M | $44M | $44M | $44M | $42M | $42M | $42M | |
| Financing Cash Flow | $-42M | $-50M | $-44M | $-245M | $32M | $-62M | $-60M | $-186M | $61M | $8M | $-103M | $-52M | $169M | $-715M | $102M | $159M | |
| Net Change in Cash | $-214M | $-92M | $-202M | $423M | $-51M | $43M | $-93M | $-143M | $142M | $351M | $2M | $-116M | $139M | $-65M | · | $-41M | |
| Taxes Paid | $686.0K | $-179.0K | $11M | $16M | $11M | $2M | $2M | $2M | $4M | $2M | $3M | $2M | $2M | $2M | $2M | $2M | |
| Free Cash Flow | · | $-47M | · | · | · | $104M | · | · | · | $323M | · | · | · | · | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $263M | · | · | · | · | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | · | · | 5.7% | 7.0% | 10.0% | · | · | · | · | · | · | |
| Net Margin | · | · | · | · | · | · | · | 0.03% | 1.6% | 5.5% | · | · | · | · | · | · | |
| Pretax Margin | · | · | · | · | · | · | · | 0.05% | 2.1% | 6.6% | · | · | · | · | · | · | |
| EBITDA Margin | · | · | · | · | · | · | · | 5.7% | 7.0% | 10.0% | · | · | · | · | · | · | |
| ROA | 0.37% | 1.2% | · | 2.4% | -0.11% | 0.95% | · | 0.00% | 0.15% | 0.74% | · | · | · | · | · | · | |
| ROE | 1.1% | 3.6% | · | 7.3% | -0.36% | 3.3% | · | 0.01% | 0.54% | 2.6% | · | · | · | · | · | · | |
| ROIC | 0.90% | 2.2% | · | 0.62% | -0.28% | 1.8% | · | 3.8% | 0.79% | 1.5% | · | · | · | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.4 | · | 1.5 | 1.0 | 0.8 | · | 0.9 | 1.6 | 1.0 | · | · | · | · | · | · | |
| Quick Ratio | 0.5 | 0.9 | · | 1.1 | 0.8 | 0.6 | · | 0.7 | 1.3 | 0.8 | · | · | · | · | · | · | |
| Debt / Equity | 0.9 | 0.9 | · | 0.9 | 1.3 | 1.4 | · | 1.5 | 1.5 | 1.6 | · | · | · | · | · | · | |
| LT Debt / Equity | 0.8 | 0.8 | · | 0.9 | 1.2 | 1.2 | · | 1.3 | 1.4 | 1.4 | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 2.2 | · | · | · | · | · | · |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | · | · | · | · | 0.1 | 0.1 | 0.1 | · | · | · | · | · | · | |
| Receivables Turnover | · | · | · | · | · | · | · | 1.4 | 1.4 | 1.8 | · | · | · | · | · | · |
Valuation (TTM) 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.01B | $5.01B | · | $5.01B | $5.01B | $5.01B | · | $5.01B | $5.23B | $5.65B | · | · | · | · | · | · | |
| Net Income TTM | $403M | $475M | · | $337M | $92M | $220M | · | $110M | $138M | $166M | · | · | · | · | · | · | |
| Market Cap | $6.42B | $6.29B | · | $5.65B | $5.35B | $5.16B | · | $5.29B | $5.05B | $5.46B | · | · | · | · | · | · | |
| Enterprise Value | $9.66B | $9.31B | · | $8.38B | $9.68B | $9.80B | · | $9.91B | $9.65B | $10.33B | · | · | · | · | · | · | |
| P/E | 15.9 | 13.2 | · | 16.8 | 58.6 | 23.5 | · | 48.8 | 36.8 | 32.7 | · | · | · | · | · | · | |
| P/S | 1.3 | 1.3 | · | 1.1 | 1.1 | 1.0 | · | 1.1 | 1.0 | 1.0 | · | · | · | · | · | · | |
| P/B | 1.6 | 1.5 | · | 1.4 | 1.5 | 1.4 | · | 1.5 | 1.4 | 1.6 | · | · | · | · | · | · | |
| P / Tangible Book | 1.6 | 1.5 | · | 1.4 | 1.9 | 1.8 | · | 2.0 | 1.9 | 2.1 | · | · | · | · | · | · | |
| P / Cash Flow | · | 38.8 | · | · | · | 17.7 | · | · | · | 10.0 | · | · | · | · | · | · | |
| P / FCF | · | -135.0 | · | · | · | 49.8 | · | · | · | 16.9 | · | · | · | · | · | · | |
| EV / EBITDA | 114.6 | 42.5 | · | 226.5 | 101.4 | 48.9 | · | 161.2 | 116.0 | 65.4 | · | · | · | · | · | · | |
| EV / FCF | · | -199.9 | · | · | · | 94.5 | · | · | · | 32.0 | · | · | · | · | · | · | |
| EV / Revenue | 1.9 | 1.9 | · | 1.7 | 1.9 | 2.0 | · | 2.0 | 1.8 | 1.8 | · | · | · | · | · | · | |
| Earnings Yield | 6.3% | 7.5% | · | 5.9% | 1.7% | 4.2% | · | 2.1% | 2.7% | 3.1% | · | · | · | · | · | · | |
| Payout Ratio | · | 32.4% | · | · | · | 39.1% | · | · | · | 50.6% | · | · | · | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2024-06-30 | 2024-03-31 | 2023-12-31 | |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | $5.43B |
| Operating Margin % | — | — | — | — | 7.7% |
| Net Income | $440M | $199M | — | — | $151M |
| Diluted EPS | $6.08 | $2.76 | — | — | $2.13 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2024-06-30 | 2024-03-31 | 2023-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.9 | 1.4 | — | — | 1.6 |
| Current Ratio | 1.3 | 0.8 | — | — | 1.1 |
| Quick Ratio | 0.8 | 0.6 | — | — | 0.6 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2024-06-30 | 2024-03-31 | 2023-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-252M | $410M | — | — | $-363M |
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Institutional owners (13F) 428 filers · $3.9B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 61 (-25 vs prior Q) | 36 (-4 vs prior Q) | 155 (+5 vs prior Q) | 112 (+26 vs prior Q) | +7.5M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FMR LLC | $443,232,306 | 4,998,109 | 11.39% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $352,370,867 | 3,973,510 | 9.05% | Shares |
| Corvex Management LP | $284,533,150 | 3,208,538 | 7.31% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $270,262,587 | 3,047,616 | 6.94% | Shares |
| STATE STREET CORP | $231,204,811 | 2,607,181 | 5.94% | Shares |
| MAVERICK CAPITAL LTD | $167,566,003 | 1,889,558 | 4.31% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $155,448,492 | 1,752,612 | 3.99% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $120,118,568 | 1,354,517 | 3.09% | Shares |
| Channing Capital Management, LLC | $95,319,294 | 1,074,868 | 2.45% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $87,962,401 | 991,908 | 2.26% | Shares |
| GABELLI FUNDS LLC | $84,320,757 | 950,843 | 2.17% | Shares |
| NORGES BANK | $84,077,065 | 948,095 | 2.16% | Shares |
| River Road Asset Management, LLC | $76,729,661 | 865,242 | 1.97% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $71,019,783 | 800,855 | 1.82% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $69,939,965 | 788,678 | 1.80% | Shares |
| GAMCO INVESTORS, INC. ET AL | $67,768,724 | 764,194 | 1.74% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $64,871,000 | 731,516 | 1.67% | Shares |
| Brookfield Corp /ON/ | $57,992,907 | 653,957 | 1.49% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $54,570,656 | 615,366 | 1.40% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $51,855,364 | 584,747 | 1.33% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $38,921,652 | 438,900 | 1.00% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $38,487,563 | 434,005 | 0.99% | Shares |
| NEUBERGER BERMAN GROUP LLC | $38,288,048 | 431,755 | 0.98% | Shares |
| ALGERT GLOBAL LLC | $29,675,875 | 334,640 | 0.76% | Shares |
| Point72 Asset Management, L.P. | $29,572,120 | 333,470 | 0.76% | Shares |
| Weiss Asset Management LP | $25,117,901 | 283,242 | 0.65% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $23,575,312 | 265,847 | 0.61% | Shares |
| BANK OF AMERICA CORP /DE/ | $23,323,905 | 263,012 | 0.60% | Shares |
| Aventail Capital Group, LP | $21,976,323 | 247,816 | 0.56% | Shares |
| GOLDMAN SACHS GROUP INC | $21,844,367 | 246,328 | 0.56% | Shares |
| BARCLAYS PLC | $21,388,108 | 241,183 | 0.55% | Shares |
| CITADEL ADVISORS LLC | $20,963,597 | 236,396 | 0.54% | Shares |
| RHUMBLINE ADVISERS | $20,224,507 | 228,062 | 0.52% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $19,411,875 | 218,898 | 0.50% | Shares |
| BlackRock, Inc. | $19,353,967 | 218,245 | 0.50% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $17,289,762 | 194,968 | 0.44% | Shares |
| MetLife Investment Management, LLC | $16,948,167 | 191,116 | 0.44% | Shares |
| PRUDENTIAL FINANCIAL INC | $16,272,337 | 183,495 | 0.42% | Shares |
| Balyasny Asset Management L.P. | $16,226,578 | 182,979 | 0.42% | Shares |
| KAYNE ANDERSON CAPITAL ADVISORS LP | $15,539,840 | 175,235 | 0.40% | Shares |
| Hudson Bay Capital Management LP | $15,493,549 | 174,713 | 0.40% | Shares |
| ALLIANCEBERNSTEIN L.P. | $15,062,377 | 173,330 | 0.39% | Shares |
| MORGAN STANLEY | $14,157,400 | 159,645 | 0.36% | Shares |
| California Public Employees Retirement System | $13,686,694 | 154,338 | 0.35% | Shares |
| MILLENNIUM MANAGEMENT LLC | $12,834,745 | 144,731 | 0.33% | Shares |
| Swiss National Bank | $10,951,980 | 123,500 | 0.28% | Shares |
| AMERIPRISE FINANCIAL INC | $10,763,623 | 121,376 | 0.28% | Shares |
| Verition Fund Management LLC | $10,730,280 | 121,000 | 0.28% | Shares |
| Verbena Value LP | $10,654,547 | 120,146 | 0.27% | Shares |
| Qube Research & Technologies Ltd | $10,636,989 | 119,948 | 0.27% | Shares |
| Sourcerock Group LLC | $10,414,845 | 117,443 | 0.27% | Shares |
| Zimmer Partners, LP | $9,591,540 | 108,159 | 0.25% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $9,561,655 | 107,822 | 0.25% | Shares |
| Walleye Capital LLC | $8,844,855 | 99,739 | 0.23% | Shares |
| Lighthouse Investment Partners, LLC | $8,503,977 | 95,895 | 0.22% | Shares |
| HENNESSY ADVISORS INC | $8,018,180 | 90,417 | 0.21% | Shares |
| Keeley-Teton Advisors, LLC | $7,437,977 | 103,593 | 0.19% | Shares |
| SummitTX Capital, L.P. | $7,399,459 | 83,440 | 0.19% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $7,296,679 | 82,281 | 0.19% | Shares |
| Legal & General Group Plc | $7,085,178 | 79,896 | 0.18% | Shares |
| Magellan Asset Management Ltd | $6,829,247 | 77,010 | 0.18% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $6,633,598 | 76,336 | 0.17% | Shares |
| Man Group plc | $6,418,392 | 72,377 | 0.16% | Shares |
| Retirement Systems of Alabama | $5,907,950 | 66,621 | 0.15% | Shares |
| Moody Aldrich Partners LLC | $5,879,395 | 66,299 | 0.15% | Shares |
| RAYMOND JAMES FINANCIAL INC | $5,791,472 | 65,308 | 0.15% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $5,780,961 | 65,189 | 0.15% | Shares |
| WELLS FARGO & COMPANY/MN | $5,778,477 | 65,161 | 0.15% | Shares |
| Schonfeld Strategic Advisors LLC | $5,774,043 | 65,111 | 0.15% | Shares |
| Maryland State Retirement & Pension System | $5,415,422 | 61,067 | 0.14% | Shares |
| Nuveen, LLC | $5,326,032 | 60,059 | 0.14% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $5,125,704 | 57,800 | 0.13% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $4,857,979 | 54,781 | 0.12% | Shares |
| Sagefield Capital LP | $4,736,221 | 53,408 | 0.12% | Shares |
| FIFTH THIRD BANCORP | $4,691,776 | 52,907 | 0.12% | Shares |
| AMERICAN CENTURY COMPANIES INC | $4,653,418 | 52,474 | 0.12% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $4,630,692 | 52,218 | 0.12% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $4,439,004 | 48,818 | 0.11% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $4,426,107 | 49,911 | 0.11% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $4,357,204 | 49,134 | 0.11% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $4,236,599 | 47,774 | 0.11% | Shares |
| Quantinno Capital Management LP | $4,060,441 | 45,787 | 0.10% | Shares |
| BTG Pactual Asset Management US LLC | $3,976,411 | 44,840 | 0.10% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $3,715,071 | 41,893 | 0.10% | Shares |
| Mariner, LLC | $3,674,185 | 41,430 | 0.09% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $3,655,212 | 41,218 | 0.09% | Shares |
| Ausbil Investment Management Ltd | $3,474,935 | 39,709 | 0.09% | Shares |
| WEDGE CAPITAL MANAGEMENT L L P/NC | $3,433,158 | 39,507 | 0.09% | Shares |
| LPL Financial LLC | $3,369,583 | 37,997 | 0.09% | Shares |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO | $3,352,813 | 37,808 | 0.09% | Shares |
| HSBC HOLDINGS PLC | $3,344,509 | 37,545 | 0.09% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $3,322,928 | 37,471 | 0.09% | Shares |
| IEQ CAPITAL, LLC | $3,213,029 | 36,232 | 0.08% | Shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | $3,017,958 | 34,032 | 0.08% | Shares |
| Trexquant Investment LP | $2,702,966 | 30,480 | 0.07% | Shares |
| Y-Intercept (Hong Kong) Ltd | $2,632,022 | 29,680 | 0.07% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $2,591,052 | 29,218 | 0.07% | Shares |
| KLP KAPITALFORVALTNING AS | $2,474,172 | 27,900 | 0.06% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $2,426,019 | 27,357 | 0.06% | Shares |
| Numerai GP LLC | $2,407,041 | 27,143 | 0.06% | Shares |
Company insiders 29 insiders · 0 officers · 0 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Leslie T Thornton | — | Dec. 1, 2022 A | 8,026 | 0 | 0 | $0 |
| Paul M Daily | — | Dec. 1, 2022 A | 9,007 | 0 | 0 | $0 |
| Kenneth J Kenny | — | Dec. 1, 2022 A | 35 | 0 | 0 | $0 |
| Ruby Sharma | — | Aug. 9, 2022 A | 928 | 0 | 0 | $0 |
| Renae E Conley | — | Aug. 3, 2022 A | 2,712 | 0 | 0 | $0 |
| Andrew Teno | — | Aug. 2, 2022 A | 1,392 | 0 | 0 | $0 |
| Carlos Ruisanchez | — | Aug. 2, 2022 A | 2,053 | 0 | 0 | $0 |
| Henry P Linginfelter | — | Aug. 2, 2022 A | 1,392 | 0 | 0 | $0 |
| Andrew W Evans | — | Aug. 2, 2022 A | 1,392 | 0 | 0 | $0 |
| Jose A Cardenas | — | June 13, 2022 S | 25,810 | 0 | 0 | $0 |
| Lori L Colvin | — | May 31, 2022 S | 3,188 | 0 | 0 | $0 |
| Eric Debonis | — | May 31, 2022 S | 3,788 | 0 | 0 | $0 |
| Justin L Brown | — | March 1, 2022 A | 3,033 | 0 | 0 | $0 |
| Gregory J Peterson | — | March 1, 2022 A | 5,229 | 0 | 0 | $0 |
| Karen S Haller | — | March 1, 2022 A | 2,195 | 0 | 0 | $0 |
| John P Hester | — | March 1, 2022 A | 4,312 | 0 | 0 | $0 |
| Jane Lewis-Raymond | — | Feb. 24, 2022 A | 9,272 | 0 | 0 | $0 |
| Randall A. Thoman | — | Feb. 24, 2022 A | 32,542 | 0 | 0 | $0 |
| Thomas A Thomas | — | Feb. 24, 2022 A | 37,998 | 0 | 0 | $0 |
| Stephen C Comer | — | Feb. 24, 2022 A | 38,160 | 0 | 0 | $0 |
| Anne L Mariucci | — | Feb. 24, 2022 A | 37,997 | 0 | 0 | $0 |
| Michael J Melarkey | — | Feb. 24, 2022 A | 42,232 | 0 | 0 | $0 |
| Robert L Boughner | — | Feb. 24, 2022 A | 58,998 | 0 | 0 | $0 |
| Jose Luis Esparza Jr | — | Dec. 1, 2021 A | 3,462 | 0 | 0 | $0 |
| Thomas E Chestnut | — | Feb. 24, 2020 A | 29,492 | 0 | 0 | $0 |
| Leroy C Hanneman | — | March 4, 2019 A | 27,672 | 0 | 0 | $0 |
| Anita M Romero | — | Jan. 25, 2019 F | 43,089 | 0 | 0 | $0 |
| Roy R Centrella | — | Feb. 28, 2018 A | 32,859 | 0 | 0 | $0 |
| Terrence Wright | — | Feb. 23, 2017 A | 34,999 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Corvex Management LP, Keith A. Meister ×3 filings | May 8, 2026 | 4.99% | Amendment | — | SEC |
| Icahn Partners Master Fund LP, Icahn Offshore LP, Icahn Partners LP, Icahn Onshore LP, Icahn Capital LP, IPH GP LLC, Icahn Enterprises Holdings L.P., Icahn Enterprises G.P. Inc., Beckton Corp., IEP Utility Holdings LLC, Carl C. Icahn ×7 filings | Jan. 29, 2026 | 4.99% | Amendment | — | SEC |
| Icahn Partners Master Fund LP (2), Icahn Offshore LP (2), Icahn Partners LP (2), Icahn Onshore LP (2), Icahn Capital LP (2), IPH GP LLC (2), Icahn Enterprises Holdings L.P. (2), Icahn Enterprises G.P. Inc. (2), Beckton Corp. (2), IEP Utility Holdings LLC (2), Carl C. Icahn (2) ×9 filings | Nov. 20, 2024 | — | Initial filing | — | SEC |
| Oct. 15, 2024 | — | Initial filing | — | SEC | |
| Aug. 19, 2024 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 97 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| TPYP · Tortoise Capital Series Trust | 1.53% | 149,007 NS | May 31, 2026 | N-PORT |
| XMLV · Invesco Exchange-Traded Fund Trust … | 1.21% | 99,141 SH | Aug. 8, 2026 | Daily |
| GURU · Global X Funds | 1.19% | 7,374 NS | April 30, 2026 | N-PORT |
| GSC · Goldman Sachs ETF Trust | 0.83% | 24,409 NS | May 31, 2026 | N-PORT |
| XMVM · Invesco Exchange-Traded Fund Trust | 0.78% | 42,805 SH | Aug. 8, 2026 | Daily |
| ESSC · Strategy Shares | 0.75% | 2,046 NS | April 30, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.61% | 14,030 NS | April 30, 2026 | N-PORT |
| DVY · iShares Trust | 0.49% | 1,242,004 SH | Aug. 8, 2026 | Daily |
| HSMV · First Trust Exchange-Traded Fund III | 0.48% | 1,552 NS | April 30, 2026 | N-PORT |
| IWN · iShares Trust | 0.44% | 690,825 SH | Aug. 8, 2026 | Daily |
| SIXL · EXCHANGE TRADED CONCEPTS TRUST | 0.42% | 9,301 NS | May 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.42% | 64,430 SH | Aug. 8, 2026 | Daily |
| FFSM · FIDELITY COVINGTON TRUST | 0.38% | 51,668 NS | April 30, 2026 | N-PORT |
| SVAL · iShares Trust | 0.37% | 8,372 SH | Aug. 8, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.37% | 50,352 NS | April 30, 2026 | N-PORT |
| FUTY · FIDELITY COVINGTON TRUST | 0.36% | 93,863 NS | April 30, 2026 | N-PORT |
| VPU · VANGUARD WORLD FUND | 0.35% | 421,108 SH | Aug. 8, 2026 | Daily |
| IJJ · iShares Trust | 0.34% | 327,648 SH | Aug. 8, 2026 | Daily |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.33% | 55,305 SH | Aug. 8, 2026 | Daily |
| CZA · Invesco Exchange-Traded Fund Trust | 0.32% | 6,742 SH | Aug. 8, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.30% | 18,730 NS | April 30, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.30% | 41,878 NS | April 30, 2026 | N-PORT |
| TOLZ · ProShares Trust | 0.25% | 5,109 NS | May 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.24% | 2,040 NS | April 30, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.24% | 287 NS | April 30, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.22% | 86 NS | May 29, 2026 | N-PORT |
| ESML · iShares Trust | 0.22% | 69,149 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.22% | 1,887,532 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.20% | 425,052 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.20% | 29,778 NS | April 30, 2026 | N-PORT |
| XJH · iShares Trust | 0.19% | 8,721 SH | Aug. 8, 2026 | Daily |
| IFRA · iShares Trust | 0.19% | 92,775 SH | Aug. 8, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.18% | 2,711 NS | April 30, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.18% | 7,382 NS | April 30, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.17% | 8,295 SH | Aug. 8, 2026 | Daily |
| IJH · iShares Trust | 0.16% | 2,222,506 SH | Aug. 8, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.16% | 167,039 NS | May 31, 2026 | N-PORT |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.16% | 103,922 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.15% | 225,813 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.15% | 3,235 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.14% | 15,702 NS | May 31, 2026 | N-PORT |
| OUSM · ALPS ETF Trust | 0.13% | 13,358 NS | May 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.13% | 1,000,791 SH | Aug. 8, 2026 | Daily |
| MVV · ProShares Trust | 0.12% | 2,221 NS | May 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.12% | 1,064 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.12% | 309,134 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.11% | 23,876 NS | April 30, 2026 | N-PORT |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.10% | 14,916 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.10% | 7,335 SH | Aug. 8, 2026 | Daily |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.09% | 115,000 | Aug. 8, 2026 | Daily |