SWX Southwest Gas Holdings, Inc. Common Stock (DE)
NYSE · Utilities · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 5, 2026
$82.69
· of 52w range
· above low
· to high
$76.7452w low
$94.4752w high
Market Cap (MRQ)
$5.99B
P/E
13.6
EPS
$6.08
Revenue
$5.43B
your badges
52W Range
$77–$94
Analyst Rating
STRONG BUY
Price Target
$103
P/E
13.6
ROE
11.2%
Net Profit Margin
·
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SWX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$82.69
Market Cap (MRQ)
$5.99B
P/E
13.6
EPS
$6.08
Revenue
$5.43B
Div Yield
3.0%
ROE
11.2%
Debt/Equity (MRQ)
0.9
52W Range
$77–$94
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About Southwest Gas Holdings, Inc. Common Stock (DE) Company overview from Wikipedia
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 ↗
sectorUtilities
industryUtilities
employees2,453
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$5.43B2022-09-30 → 2023-12-31
EPS$6.082022-09-30 → 2025-12-31
Free Cash Flow$-252M2022-09-30 → 2025-12-31
Net margin·2022-09-30 → 2023-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | SWX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 13.65Y avg ≈22.8 | ≈22.8 | 15.9 | Undervalued | |
| P/S | 1.25Y avg ≈1.0 | ≈1.0 | 1.8 | Undervalued | |
| P/B (MRQ) | 1.55Y avg ≈1.4 | ≈1.4 | 1.5 | Fair value | |
| EV / EBITDA | 18.85Y avg ≈20.6 | ≈20.6 | 10.5 | Overvalued | |
| Price / FCF (TTM) | -12.45Y avg ≈-7.7 | ≈-7.7 | · | · | |
| Price / Cash Flow (TTM) | 13.45Y avg ≈7.7 | ≈7.7 | 8.4 | Overvalued | |
| EV / Revenue | 1.85Y avg ≈1.8 | ≈1.8 | · | · | |
| EV / FCF | -35.45Y avg ≈-12.5 | ≈-12.5 | · | · | |
| Price / Tangible Book | 1.55Y avg ≈1.6 | ≈1.6 | · | · | |
| PEG Ratio | ≈1.7 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | SWX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | 3.9%5Y avg ≈2.3% | ≈2.3% | 3.9% | In line | |
| ROE | 11.2%5Y avg ≈7.3% | ≈7.3% | 9.1% | Top tier | |
| ROIC | 4.5%5Y avg ≈4.4% | ≈4.4% | 7.5% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | SWX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.95Y avg ≈1.3 | ≈1.3 | 0.9 | Low debt | |
| Current Ratio (MRQ) | 1.15Y avg ≈1.1 | ≈1.1 | 0.8 | Strong liquidity | |
| Quick Ratio | 0.85Y avg ≈0.7 | ≈0.7 | 0.3 | Strong liquidity | |
| Long-Term Debt / Equity (MRQ) | 0.85Y avg ≈1.2 | ≈1.2 | 0.9 | Low debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | SWX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 9.6% | · | · | · | |
| Revenue CAGR 3Y | 18.1% | · | · | · | |
| EPS YoY | 120.3% | · | · | · | |
| Net Income YoY | 121.2% | · | · | · | |
| EPS CAGR 3Y | -6.6% | · | · | · | |
| EPS CAGR 5Y | 8.0% | · | · | · | |
| Net Income CAGR 3Y | -0.33% | · | · | · | |
| Net Income CAGR 5Y | 13.6% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | SWX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue / Employee | ≈$2.2M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield3.0%
Payout Ratio40.6%
Annualized Payout≈$2.58
5Y Div CAGR≈1.7%
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 17, 2026 | $0.65 | USD | ≈2.8% |
| May 15, 2026 | $0.65 | USD | ≈2.9% |
| Feb 17, 2026 | $0.62 | USD | ≈2.8% |
| Nov 17, 2025 | $0.62 | USD | ≈3.1% |
| Aug 15, 2025 | $0.62 | USD | ≈3.2% |
| May 15, 2025 | $0.62 | USD | ≈3.6% |
| Feb 18, 2025 | $0.62 | USD | ≈3.2% |
| Nov 15, 2024 | $0.62 | USD | ≈3.2% |
| Aug 15, 2024 | $0.62 | USD | ≈3.5% |
| May 14, 2024 | $0.62 | USD | ≈3.3% |
| Feb 14, 2024 | $0.62 | USD | ≈4.3% |
| Nov 14, 2023 | $0.62 | USD | ≈4.0% |
| Aug 14, 2023 | $0.62 | USD | ≈3.8% |
| May 12, 2023 | $0.62 | USD | ≈4.4% |
| Feb 14, 2023 | $0.62 | USD | ≈3.9% |
| Nov 14, 2022 | $0.62 | USD | ≈3.9% |
| Aug 12, 2022 | $0.62 | USD | ≈3.1% |
| May 13, 2022 | $0.62 | USD | ≈2.6% |
| Feb 14, 2022 | $0.60 | USD | ≈3.6% |
| Nov 12, 2021 | $0.60 | USD | ≈3.4% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Beat Rate
62.5%
Avg Surprise
7.5%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 11, 2026 | $0.58 | $0.46 | 27.4% |
| March 31, 2026 | May 12, 2026 | $1.91 | $2.12 | -10.0% |
| Dec. 31, 2025 | $1.36 | $1.35 | 0.55% | |
| June 30, 2025 | $0.53 | $0.44 | 20.4% | |
| March 31, 2025 | $1.65 | $1.52 | 8.9% | |
| Dec. 31, 2024 | $1.39 | $1.24 | 12.3% | |
| Sept. 30, 2000 | $-0.31 | $-0.45 | 31.8% | |
| June 30, 2000 | $-0.31 | $-0.24 | -31.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| 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
| 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
| 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
| 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
| 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
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Asset Turnover | · | · | 0.4 | 0.4 | 0.3 | |
| Receivables Turnover | · | · | 6.2 | 6.3 | 6.0 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Book Value / Share | $54.84 | $48.82 | $46.25 | $45.57 | $48.89 | |
| Revenue / Share | · | · | $76.55 | $75.66 | $62.11 | |
| Cash Flow / Share | $7.69 | $18.82 | $7.17 | $6.22 | $1.88 | |
| Cash / Share | $7.98 | $5.07 | $1.49 | $1.83 | $3.69 | |
| Dividend / Share | $2.48 | $2.48 | $2.48 | $2.48 | $2.38 | |
| EPS (TTM) | $6.08 | $2.76 | $2.13 | $-3.10 | $3.39 |
Growth Rates
| 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% | · | · | · | · | |
| Dividends Paid CAGR 5Y | 7.3% | · | · | · | · |
Valuation (TTM)
| 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
| 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 | · | 72,209,000 | 72,088,000 | 72,012,000 | · | 71,880,000 | 71,839,000 | 71,728,000 | · | 71,626,000 | 71,536,000 | 68,265,000 | · | 67,157,000 | |
| Shares (Diluted) | 72,665,000 | 72,566,000 | · | 72,405,000 | 72,088,000 | 72,138,000 | · | 72,086,000 | 72,015,000 | 71,882,000 | · | 71,851,000 | 71,722,000 | 68,419,000 | · | 67,157,000 | |
| EBITDA | $84M | $219M | · | $37M | $95M | $200M | · | $61M | $83M | $158M | · | · | · | · | · | · |
Balance Sheet
| 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
| 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
| 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
| 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
| 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 | · | · | · | · | · | · |
Per Share
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $56.94 | $56.67 | · | $54.43 | $51.05 | $49.77 | · | $48.17 | $48.71 | $46.83 | · | · | · | · | · | · | |
| Revenue / Share | · | · | · | · | · | · | · | $14.97 | $16.42 | $21.99 | · | · | · | · | · | · | |
| Cash Flow / Share | · | $2.23 | · | · | · | $4.04 | · | · | · | $7.56 | · | · | · | · | · | · | |
| Cash / Share | $3.73 | $6.70 | · | $10.79 | $4.94 | $5.65 | · | $6.37 | $8.36 | $6.39 | · | · | · | · | · | · | |
| Dividend / Share | $0.65 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | $0.62 | |
| EPS (TTM) | $7.06 | $5.92 | · | $5.94 | $2.31 | $3.12 | · | $2.49 | $2.53 | $2.68 | · | $-2.91 | $-3.18 | $-3.76 | · | $2.30 |
Valuation (TTM)
| 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 | · | · | · | · | · | · | · | · | · | · | · | $5.49B | $5.44B | $5.30B | · | $4.62B | |
| Net Income TTM | $511M | $429M | · | $429M | $166M | $225M | · | $179M | $182M | $193M | · | $-203M | $-218M | $-254M | · | $147M | |
| 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 | 12.6 | 14.7 | · | 13.2 | 32.2 | 23.0 | · | 29.6 | 27.8 | 28.4 | · | -20.8 | -20.0 | -16.6 | · | 30.3 | |
| P/S | · | · | · | · | · | · | · | · | · | · | · | 0.8 | 0.8 | 0.8 | · | 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 | · | · | · | · | · | · | · | · | · | · | · | -7.1 | -5.9 | -5.1 | · | -10.2 | |
| EV / EBITDA | · | · | · | · | · | · | · | · | · | · | · | -1152.4 | -520.4 | -164.0 | · | 28.6 | |
| EV / FCF | · | · | · | · | · | · | · | · | · | · | · | -15.7 | -12.5 | -10.7 | · | -23.6 | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | · | · | 1.7 | 1.8 | 1.8 | · | 2.3 | |
| Dividend Yield | 2.8% | 2.8% | · | 3.1% | 3.3% | 3.4% | · | 3.4% | 3.5% | 3.2% | · | 4.0% | 3.7% | 3.7% | · | 3.3% | |
| Earnings Yield | 8.0% | 6.8% | · | 7.6% | 3.1% | 4.3% | · | 3.4% | 3.6% | 3.5% | · | -4.8% | -5.0% | -6.0% | · | 3.3% | |
| Payout Ratio | · | 32.4% | · | · | · | 39.1% | · | · | · | 50.6% | · | · | · | · | · | · | |
| Annual Payout | $181M | $179M | · | $178M | $178M | $178M | · | $178M | $177M | $177M | · | $172M | $169M | $166M | · | $155M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 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 |
| Metric | 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 |
| Metric | 2025-12-31 | 2024-12-31 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-252M | $410M | · | · | $-363M |
Institutional owners (13F) 425 filers · $6.4B total · As of Sept. 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.
Holders
425
Value held
$6.4B
New positions
55
Exited positions
37
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 55 (-38 vs prior Q) | 37 (-2 vs prior Q) | 164 (+12 vs prior Q) | 114 (+25 vs prior Q) | +2.6M |
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 |
|---|---|---|---|---|
| BlackRock, Inc. | $991,548,894 | 11,181,201 | 15.61% | Shares |
| VANGUARD GROUP INC | $561,053,829 | 7,011,420 | 8.83% | Shares |
| FMR LLC | $494,402,136 | 5,575,126 | 7.79% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $352,370,867 | 3,973,510 | 5.55% | Shares |
| Corvex Management LP | $284,533,150 | 3,208,538 | 4.48% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $270,262,587 | 3,047,616 | 4.26% | Shares |
| STATE STREET CORP | $231,204,811 | 2,607,181 | 3.64% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $185,098,827 | 2,086,964 | 2.91% | Shares |
| MAVERICK CAPITAL LTD | $167,566,003 | 1,889,558 | 2.64% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $142,214,894 | 1,603,686 | 2.24% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $120,118,568 | 1,354,517 | 1.89% | Shares |
| Channing Capital Management, LLC | $95,319,294 | 1,074,868 | 1.50% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $93,896,778 | 1,058,783 | 1.48% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $87,426,153 | 985,861 | 1.38% | Shares |
| GABELLI FUNDS LLC | $84,320,757 | 950,843 | 1.33% | Shares |
| NORGES BANK | $84,077,065 | 948,095 | 1.32% | Shares |
| NORTHERN TRUST CORP | $79,137,233 | 892,391 | 1.25% | Shares |
| GOLDMAN SACHS GROUP INC | $77,112,079 | 869,554 | 1.21% | Shares |
| River Road Asset Management, LLC | $76,729,661 | 865,242 | 1.21% | Shares |
| Bank of New York Mellon Corp | $74,324,320 | 838,118 | 1.17% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $71,019,783 | 800,855 | 1.12% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $69,939,965 | 788,678 | 1.10% | Shares |
| GAMCO INVESTORS, INC. ET AL | $67,768,724 | 764,194 | 1.07% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $64,871,000 | 731,516 | 1.02% | Shares |
| Brookfield Corp /ON/ | $57,992,907 | 653,957 | 0.91% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $54,570,656 | 615,366 | 0.86% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $51,855,364 | 584,747 | 0.82% | Shares |
| JPMORGAN CHASE & CO | $51,268,540 | 569,101 | 0.81% | Shares |
| Nuveen, LLC | $43,440,164 | 489,853 | 0.68% | Shares |
| MORGAN STANLEY | $40,602,328 | 457,850 | 0.64% | Shares |
| BANK OF AMERICA CORP /DE/ | $39,572,017 | 446,234 | 0.62% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $38,921,652 | 438,900 | 0.61% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $38,487,563 | 434,005 | 0.61% | Shares |
| NEUBERGER BERMAN GROUP LLC | $38,314,031 | 432,048 | 0.60% | Shares |
| FIRST TRUST ADVISORS LP | $38,110,919 | 429,758 | 0.60% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $37,658,760 | 424,659 | 0.59% | Shares |
| ALGERT GLOBAL LLC | $29,675,875 | 334,640 | 0.47% | Shares |
| Point72 Asset Management, L.P. | $29,572,120 | 333,470 | 0.47% | Shares |
| Weiss Asset Management LP | $25,117,901 | 283,242 | 0.40% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $24,078,305 | 271,519 | 0.38% | Shares |
| UBS Group AG | $23,933,934 | 269,891 | 0.38% | Shares |
| KAYNE ANDERSON CAPITAL ADVISORS LP | $23,656,720 | 266,765 | 0.37% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $23,575,312 | 265,847 | 0.37% | Shares |
| Invesco Ltd. | $22,955,706 | 258,860 | 0.36% | Shares |
| Aventail Capital Group, LP | $21,976,323 | 247,816 | 0.35% | Shares |
| BARCLAYS PLC | $21,584,268 | 243,395 | 0.34% | Shares |
| CITADEL ADVISORS LLC | $20,963,597 | 236,396 | 0.33% | Shares |
| Russell Investments Group, Ltd. | $20,883,990 | 235,496 | 0.33% | Shares |
| RHUMBLINE ADVISERS | $20,224,507 | 228,062 | 0.32% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $19,411,875 | 218,898 | 0.31% | Shares |
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.
Company insiders 40 insiders · 13 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Karen S Haller | President and CEO | Feb. 27, 2026 F | 185,798 | 0 | 0 | $0 |
| Paul M Daily | CEO/Centuri Group, Inc. | Dec. 27, 2023 S | 58,377 | 0 | 0 | $0 |
| Justin S Forsberg | SVP/Chief Financial Officer | Feb. 27, 2026 F | 6,862 | 0 | 0 | $0 |
| Robert J Stefani | SVP/Chief Financial Officer | Nov. 25, 2025 F | 28,444 | 0 | 0 | $0 |
| Justin L Brown | President/Southwest Gas Corp. | Feb. 27, 2026 F | 27,623 | 0 | 1 | $-245,510 |
| Julie M. Williams | SVP/Cont. Improvement and Opt. | Sept. 28, 2026 S | 26,450 | 0 | 1 | $-204,525 |
| Catherine M Mazzeo | SVP/Chief Legal/Comp. Officer | Feb. 27, 2026 F | 16,150 | 0 | 0 | $0 |
| Amy L. Timperley | SVP/Chief Reg. & Public Aff. | Feb. 27, 2026 F | 15,118 | 0 | 0 | $0 |
| Gabe Randall P. | SVP/Chief Administrative OFC | Feb. 27, 2026 F | 24,153 | 0 | 0 | $0 |
| Fabio A Pineda | VP/Controller/CAO | Feb. 19, 2026 A | 2,417 | 0 | 0 | $0 |
| Lori L Colvin | VP/Controller/CAO | March 4, 2025 F | 8,567 | 0 | 0 | $0 |
| Thomas E. Moran | VP/General Counsel/Corp. Sec | March 1, 2024 A | 4,582 | 0 | 0 | $0 |
| Kenneth J Kenny | VP/Finance/Treasurer | Feb. 23, 2023 A | 20,023 | 0 | 0 | $0 |
| Molly R. Carson | Director | May 7, 2026 A | 1,196 | 0 | 0 | $0 |
| Leezie Kim | Director | May 7, 2026 A | 1,196 | 0 | 0 | $0 |
| Ruby Sharma | Director | Feb. 19, 2026 A | 9,480 | 0 | 0 | $0 |
| Brian E Sandoval | Director | Feb. 19, 2026 A | 3,299 | 0 | 0 | $0 |
| Jane Lewis-Raymond | Director | Feb. 19, 2026 A | 17,474 | 0 | 0 | $0 |
| Carlos Ruisanchez | Director | Feb. 19, 2026 A | 10,693 | 0 | 0 | $0 |
| Henry P Linginfelter | Director | Feb. 19, 2026 A | 10,046 | 0 | 0 | $0 |
| Leslie T Thornton | Director | Feb. 19, 2026 A | 17,201 | 0 | 0 | $0 |
| Andrew W Evans | Director | Feb. 19, 2026 A | 10,046 | 0 | 0 | $0 |
| Anne L Mariucci | Director | Feb. 19, 2026 A | 50,100 | 0 | 0 | $0 |
| Renae E Conley | Director | Feb. 19, 2026 A | 12,282 | 0 | 0 | $0 |
| Andrew Teno | Director | Feb. 20, 2025 A | 7,996 | 0 | 0 | $0 |
| Randall A. Thoman | Director | Feb. 20, 2025 A | 42,738 | 0 | 0 | $0 |
| Jose A Cardenas | · | June 13, 2022 S | 25,810 | 0 | 0 | $0 |
| Eric Debonis | · | May 31, 2022 S | 3,788 | 0 | 0 | $0 |
| Gregory J Peterson | · | March 1, 2022 A | 5,229 | 0 | 0 | $0 |
| John P Hester | · | March 1, 2022 A | 4,312 | 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 |
| 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
ETF ownership Held by 72 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 |
|---|---|---|---|---|
| XMLV · Invesco Exchange-Traded Fund Trust … | 1.37% | 116,196 SH | Oct. 2, 2026 | Daily |
| GURU · Global X Funds | 1.10% | 7,502 NS | July 31, 2026 | N-PORT |
| XMVM · Invesco Exchange-Traded Fund Trust | 0.73% | 45,152 SH | Oct. 2, 2026 | Daily |
| ESSC · Strategy Shares | 0.70% | 2,832 NS | July 31, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.57% | 14,615 NS | July 31, 2026 | N-PORT |
| FFSM · FIDELITY COVINGTON TRUST | 0.55% | 92,117 NS | July 31, 2026 | N-PORT |
| DVY · iShares Trust | 0.46% | 1,258,031 SH | Sept. 11, 2026 | Daily |
| HSMV · First Trust Exchange-Traded Fund III | 0.45% | 1,754 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.42% | 64,430 SH | Aug. 19, 2026 | Daily |
| FUTY · FIDELITY COVINGTON TRUST | 0.36% | 93,212 NS | July 31, 2026 | N-PORT |
| VPU · VANGUARD WORLD FUND | 0.35% | 421,108 SH | Aug. 19, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.35% | 50,139 NS | July 31, 2026 | N-PORT |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.33% | 55,305 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.31% | 100,391 SH | Sept. 11, 2026 | Daily |
| CZA · Invesco Exchange-Traded Fund Trust | 0.31% | 7,642 SH | Oct. 2, 2026 | Daily |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.30% | 46,460 NS | July 31, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.29% | 19,219 NS | July 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.22% | 293 NS | July 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.21% | 2,099 NS | July 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.21% | 35,380 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.21% | 1,906,466 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.20% | 425,052 SH | Aug. 19, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.17% | 3,232 NS | July 31, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.17% | 8,623 SH | Oct. 2, 2026 | Daily |
| SMDX · Tidal Trust III | 0.17% | 2,421 NS | July 31, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.16% | 7,123 NS | July 31, 2026 | N-PORT |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.16% | 103,922 SH | Aug. 19, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.14% | 236,213 NS | July 31, 2026 | N-PORT |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.13% | 185,000 | Oct. 2, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.13% | 1,000,791 SH | Aug. 19, 2026 | Daily |
| MIDU · Direxion Shares ETF Trust | 0.12% | 946 NS | July 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 27,331 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.08% | 9,301 SH | Sept. 10, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.07% | 1,576,389 SH | Aug. 19, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.07% | 10,369 SH | Oct. 2, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.06% | 739,054 SH | Aug. 19, 2026 | Daily |
| WSML · iShares Trust | 0.05% | 3,939 SH | Sept. 11, 2026 | Daily |
| VYM · VANGUARD WHITEHALL FUNDS | 0.03% | 287,616 SH | Aug. 19, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.03% | 6,954 NS | July 31, 2026 | N-PORT |
| IUSV · iShares Trust | 0.02% | 55,398 SH | Sept. 11, 2026 | Daily |
| PRF · Invesco Exchange-Traded Fund Trust | 0.02% | 20,464 SH | Oct. 1, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.02% | 86,326 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 4,095 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.01% | 14,953 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 2,182,146 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 56,242 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 6,068 SH | Aug. 19, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 19,849 SH | Sept. 10, 2026 | Daily |
| IYY · iShares Trust | 0.01% | 2,883 SH | Sept. 11, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.01% | 19,144 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 1,944 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.01% | 86,950 SH | Sept. 11, 2026 | Daily |
| GTO · Invesco Actively Managed Exchange-T… | 0.00% | 2,000 | Sept. 30, 2026 | Daily |
| BIV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BLV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCLT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| IJH · iShares Trust | · | 2,260,246 SH | Sept. 11, 2026 | Daily |
| IJJ · iShares Trust | · | 328,446 SH | Aug. 21, 2026 | Daily |
| IWN · iShares Trust | · | 696,051 SH | Sept. 11, 2026 | Daily |
| IFRA · iShares Trust | · | 88,063 SH | Sept. 11, 2026 | Daily |
| XJH · iShares Trust | · | 8,821 SH | Sept. 8, 2026 | Daily |
| SVAL · iShares Trust | · | 6,482 SH | Sept. 3, 2026 | Daily |
| ISCB · iShares Trust | · | 2,795 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 7,335 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 5,463 SH | Sept. 11, 2026 | Daily |
| SMMV · iShares Trust | · | 4,640 SH | Sept. 1, 2026 | Daily |
SWX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 13 analysts
BUY
Median target
$103.00
+24.6%
7 53.8%
Strong Buy
5 38.5%
Buy
1 7.7%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
7 analysts · 2026-09-27Mean target $102.71 +24.2%
← Below all targets
Current price $82.69
Low$94.00
Mean$102.71
High$107.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| 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% | · |
| SR | · | · | · | · | · | · |
| OGS | $4.84B | 17.7 | · | · | 8.0% | · |
| 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% | · | · |
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Source: SEC 10-Q filed Aug 5, 2026