Southwest Gas Holdings Inc (SWX) - Net Assets
Based on the latest financial reports, Southwest Gas Holdings Inc (SWX) has net assets worth $3.93 Billion USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($10.33 Billion) and total liabilities ($6.40 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check SWX financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $3.93 Billion |
| % of Total Assets | 38.04% |
| Annual Growth Rate | 8.24% |
| 5-Year Change | 29.87% |
| 10-Year Change | 129.36% |
| Growth Volatility | 6.42 |
Southwest Gas Holdings Inc - Net Assets Trend (1994–2024)
This chart illustrates how Southwest Gas Holdings Inc's net assets have evolved over time, based on quarterly financial data. Also explore Southwest Gas Holdings Inc balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Southwest Gas Holdings Inc (1994–2024)
The table below shows the annual net assets of Southwest Gas Holdings Inc from 1994 to 2024. For live valuation and market cap data, see Southwest Gas Holdings Inc (SWX) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $3.69 Billion | +8.04% |
| 2023-12-31 | $3.41 Billion | +6.11% |
| 2022-12-31 | $3.22 Billion | +2.14% |
| 2021-12-31 | $3.15 Billion | +10.91% |
| 2020-12-31 | $2.84 Billion | +9.66% |
| 2019-12-31 | $2.59 Billion | +11.02% |
| 2018-12-31 | $2.33 Billion | +28.75% |
| 2017-12-31 | $1.81 Billion | +7.63% |
| 2016-12-31 | $1.68 Billion | +4.69% |
| 2015-12-31 | $1.61 Billion | +6.78% |
| 2014-12-31 | $1.51 Billion | +6.65% |
| 2013-12-31 | $1.41 Billion | +7.94% |
| 2012-12-31 | $1.31 Billion | +6.81% |
| 2011-12-31 | $1.23 Billion | +4.97% |
| 2010-12-31 | $1.17 Billion | +5.89% |
| 2009-12-31 | $1.10 Billion | +6.19% |
| 2008-12-31 | $1.04 Billion | +5.51% |
| 2007-12-31 | $983.67 Million | +9.12% |
| 2006-12-31 | $901.42 Million | +20.01% |
| 2005-12-31 | $751.13 Million | +6.44% |
| 2004-12-31 | $705.68 Million | +11.93% |
| 2003-12-31 | $630.47 Million | -3.92% |
| 2002-12-31 | $656.17 Million | +5.63% |
| 2001-12-31 | $621.20 Million | +4.67% |
| 2000-12-31 | $593.47 Million | +4.96% |
| 1999-12-31 | $565.40 Million | +5.41% |
| 1998-12-31 | $536.40 Million | +20.27% |
| 1997-12-31 | $446.00 Million | +1.46% |
| 1996-12-31 | $439.60 Million | +5.65% |
| 1995-12-31 | $416.10 Million | +21.28% |
| 1994-12-31 | $343.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Southwest Gas Holdings Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1347.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $758.65 Million | 21.65% |
| Common Stock | $73.41 Million | 2.10% |
| Other Comprehensive Income | $-49.22 Million | -1.40% |
| Other Components | $2.72 Billion | 77.66% |
| Total Equity | $3.50 Billion | 100.00% |
Southwest Gas Holdings Inc Competitors by Market Cap
The table below lists competitors of Southwest Gas Holdings Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Paycom Software, Inc.
NYSE:PAYC
|
$6.30 Billion |
|
China Resources Sanjiu Medical & Pharmaceutical Co Ltd
SHE:000999
|
$6.31 Billion |
|
Hyosung Heavy Industries Corp
KO:298040
|
$6.31 Billion |
|
F.N.B. Corp
NYSE:FNB
|
$6.31 Billion |
|
Fertilizers and Chemicals Travancore Limited
NSE:FACT
|
$6.29 Billion |
|
ViaSat Inc
NASDAQ:VSAT
|
$6.29 Billion |
|
Infore Environment Technology Group Co Ltd
SHE:000967
|
$6.29 Billion |
|
QUBE Holdings Ltd
AU:QUB
|
$6.29 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Southwest Gas Holdings Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,310,036,000 to 3,504,187,000, a change of 194,151,000 (5.9%).
- Net income of 198,815,000 contributed positively to equity growth.
- Dividend payments of 177,768,000 reduced retained earnings.
- Share repurchases of 8,884,000 reduced equity.
- New share issuances of 336,551,000 increased equity.
- Other comprehensive income decreased equity by 5,431,000.
- Other factors decreased equity by 149,132,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $198.81 Million | +5.67% |
| Dividends Paid | $177.77 Million | -5.07% |
| Share Repurchases | $8.88 Million | -0.25% |
| Share Issuances | $336.55 Million | +9.6% |
| Other Comprehensive Income | $-5.43 Million | -0.15% |
| Other Changes | $-149.13 Million | -4.26% |
| Total Change | $- | 5.87% |
Book Value vs Market Value Analysis
This analysis compares Southwest Gas Holdings Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.92x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 5.74x to 1.92x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $16.22 | $93.20 | x |
| 1995-12-31 | $15.56 | $93.20 | x |
| 1996-12-31 | $14.66 | $93.20 | x |
| 1997-12-31 | $14.27 | $93.20 | x |
| 1998-12-31 | $16.53 | $93.20 | x |
| 1999-12-31 | $16.32 | $93.20 | x |
| 2000-12-31 | $16.90 | $93.20 | x |
| 2001-12-31 | $17.32 | $93.20 | x |
| 2002-12-31 | $17.94 | $93.20 | x |
| 2003-12-31 | $18.52 | $93.20 | x |
| 2004-12-31 | $19.88 | $93.20 | x |
| 2005-12-31 | $19.53 | $93.20 | x |
| 2006-12-31 | $22.00 | $93.20 | x |
| 2007-12-31 | $23.03 | $93.20 | x |
| 2008-12-31 | $23.71 | $93.20 | x |
| 2009-12-31 | $24.46 | $93.20 | x |
| 2010-12-31 | $25.48 | $93.20 | x |
| 2011-12-31 | $26.49 | $93.20 | x |
| 2012-12-31 | $28.14 | $93.20 | x |
| 2013-12-31 | $30.25 | $93.20 | x |
| 2014-12-31 | $31.71 | $93.20 | x |
| 2015-12-31 | $33.65 | $93.20 | x |
| 2016-12-31 | $34.79 | $93.20 | x |
| 2017-12-31 | $37.81 | $93.20 | x |
| 2018-12-31 | $45.52 | $93.20 | x |
| 2019-12-31 | $46.14 | $93.20 | x |
| 2020-12-31 | $47.70 | $93.20 | x |
| 2021-12-31 | $49.85 | $93.20 | x |
| 2022-12-31 | $46.66 | $93.20 | x |
| 2023-12-31 | $46.63 | $93.20 | x |
| 2024-12-31 | $48.65 | $93.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Southwest Gas Holdings Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.67%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.89%
- • Asset Turnover: 0.43x
- • Equity Multiplier: 3.43x
- Recent ROE (5.67%) is below the historical average (6.84%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 7.67% | 4.31% | 0.20x | 9.01x | $-8.01 Million |
| 1995 | -4.16% | -2.63% | 0.37x | 4.30x | $-50.41 Million |
| 1996 | 1.74% | 1.02% | 0.41x | 4.11x | $-31.36 Million |
| 1997 | 4.27% | 2.25% | 0.41x | 4.58x | $-22.10 Million |
| 1998 | 9.97% | 5.18% | 0.50x | 3.84x | $-140.00K |
| 1999 | 7.78% | 4.19% | 0.49x | 3.81x | $-11.24 Million |
| 2000 | 7.18% | 3.70% | 0.46x | 4.18x | $-15.04 Million |
| 2001 | 6.62% | 2.66% | 0.59x | 4.22x | $-18.96 Million |
| 2002 | 7.37% | 3.33% | 0.56x | 3.99x | $-15.65 Million |
| 2003 | 6.11% | 3.13% | 0.47x | 4.14x | $-24.54 Million |
| 2004 | 8.05% | 3.84% | 0.50x | 4.16x | $-13.79 Million |
| 2005 | 5.83% | 2.56% | 0.53x | 4.30x | $-31.29 Million |
| 2006 | 9.30% | 4.14% | 0.58x | 3.87x | $-6.28 Million |
| 2007 | 8.46% | 3.87% | 0.59x | 3.73x | $-15.12 Million |
| 2008 | 5.87% | 2.84% | 0.56x | 3.68x | $-42.81 Million |
| 2009 | 7.94% | 4.62% | 0.48x | 3.54x | $-22.73 Million |
| 2010 | 8.90% | 5.68% | 0.46x | 3.41x | $-12.87 Million |
| 2011 | 9.16% | 5.95% | 0.44x | 3.49x | $-10.31 Million |
| 2012 | 10.18% | 6.92% | 0.43x | 3.43x | $2.31 Million |
| 2013 | 10.27% | 7.45% | 0.43x | 3.23x | $3.87 Million |
| 2014 | 9.48% | 6.65% | 0.41x | 3.50x | $-7.73 Million |
| 2015 | 8.68% | 5.61% | 0.46x | 3.36x | $-21.12 Million |
| 2016 | 9.14% | 6.18% | 0.44x | 3.36x | $-14.31 Million |
| 2017 | 10.68% | 7.61% | 0.41x | 3.44x | $12.36 Million |
| 2018 | 8.09% | 6.33% | 0.39x | 3.27x | $-42.93 Million |
| 2019 | 8.54% | 6.86% | 0.38x | 3.26x | $-36.66 Million |
| 2020 | 8.69% | 7.04% | 0.38x | 3.27x | $-35.17 Million |
| 2021 | 6.80% | 5.46% | 0.29x | 4.32x | $-94.60 Million |
| 2022 | -6.65% | -4.10% | 0.38x | 4.31x | $-509.17 Million |
| 2023 | 4.56% | 2.78% | 0.46x | 3.59x | $-180.11 Million |
| 2024 | 5.67% | 3.89% | 0.43x | 3.43x | $-151.60 Million |
Industry Comparison
This section compares Southwest Gas Holdings Inc's net assets metrics with peer companies in the Utilities - Regulated Gas industry.
Industry Context
- Industry: Utilities - Regulated Gas
- Average net assets among peers: $1,785,817,919
- Average return on equity (ROE) among peers: 7.23%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Southwest Gas Holdings Inc (SWX) | $3.93 Billion | 7.67% | 1.63x | $6.30 Billion |
| Atmos Energy Corporation (ATO) | $573.24 Million | 10.41% | 2.45x | $31.19 Billion |
| Brookfield Infrastructure Corp (BIPC) | $-361.00 Million | 0.00% | 0.00x | $4.45 Billion |
| Black Hills Corporation (BKH) | $1.73 Billion | 4.22% | 2.77x | $5.29 Billion |
| Chesapeake Utilities Corporation (CPK) | $123.07 Million | 11.06% | 2.13x | $3.00 Billion |
| Centuri Holdings, Inc. (CTRI) | $560.22 Million | -1.20% | 2.70x | $3.04 Billion |
| MDU Resources Group Inc (MDU) | $10.35 Billion | 1.84% | -0.26x | $4.40 Billion |
| NiSource Inc (NI) | $1.49 Billion | 10.74% | 3.58x | $21.94 Billion |
| NewJersey Resources Corporation (NJR) | $966.17 Million | 14.69% | 2.27x | $5.65 Billion |
| Northwest Natural Gas Co (NWN) | $385.50 Million | 12.14% | 1.57x | $2.14 Billion |
| One Gas Inc (OGS) | $2.04 Billion | 8.43% | 1.68x | $5.13 Billion |
About Southwest Gas Holdings Inc
Southwest Gas Holdings, Inc., through its subsidiaries, purchases, distributes, and transports natural gas for residential, commercial, and industrial customers in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Distribution and Utility Infrastructure Services. It offers tariff sales and transportation services. The company also provides installation, repla… Read more