Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.46B | $2.55B | $2.88B | $3.12B | $3.30B | $3.68B | $4.96B | $5.43B | — | — |
| Revenue growth | — | 3.6% | 13.0% | 8.3% | 5.7% | 11.6% | 34.8% | 9.6% | — | — |
| Operating income | $315M | $343M | $357M | $372M | $423M | $370M | -$24.4M | $293M | $406M | $474M |
| Operating margin | 12.8% | 13.5% | 12.4% | 11.9% | 12.8% | 10.0% | -0.5% | 5.4% | — | — |
| Net income | $152M | $194M | $182M | $214M | $232M | $201M | -$203M | $151M | $199M | $440M |
| Net margin | 6.2% | 7.6% | 6.3% | 6.9% | 7.0% | 5.5% | -4.1% | 2.8% | — | — |
| EPS (diluted) | $3.18 | $4.04 | $3.68 | $3.94 | $4.14 | $3.39 | -$3.10 | $2.13 | $2.76 | $6.08 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $601M | $370M | $529M | $500M | $626M | $111M | $407M | $509M | $1.36B | $556M |
| Capital expenditures | $530M | $624M | $766M | $938M | $825M | $716M | $859M | $766M | $847M | $808M |
| Free cash flow | $71.0M | -$254M | -$237M | -$438M | -$199M | -$604M | -$452M | -$257M | $509M | -$252M |
| Dividends paid | $83.3M | $92.1M | $100M | $116M | $126M | $138M | $161M | $175M | $178M | $179M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $28.1M | $43.6M | $85.4M | $49.5M | $83.4M | $223M | $123M | $107M | $315M | $577M |
| Total assets | $5.58B | $6.24B | $7.36B | $8.17B | $8.74B | $12.8B | $13.2B | $9.28B | $12.1B | $10.4B |
| Long-term debt | $1.55B | $1.80B | $2.11B | $2.30B | $2.73B | $4.12B | $4.40B | $4.61B | $3.50B | $3.43B |
| Shareholders' equity | $1.66B | $1.81B | $2.25B | $2.51B | $2.67B | $2.95B | $3.06B | $3.31B | $3.50B | $3.65B |
| Retained earnings | $759M | $857M | $944M | $1.04B | $1.07B | $1.11B | $747M | $739M | $759M | $742M |
| Shares (wtd avg diluted) | 47.8M | 48.0M | 49.5M | 54.3M | 56.1M | 59.3M | 65.6M | 71.0M | 72.0M | 72.3M |
Every figure is extracted from Southwest Gas Holdings, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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