Start with its own history
At 23.83×, SWX is 14.3% above its 9-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · SWXRegulated GasUpdated Nov 2, 2026
Southwest Gas Holdings, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
23.83×
14.3% abovethe 9-observation annual average
Share price93.19
÷Earnings per share3.91
Price and EPS in quote currency. Calculation details
Investors are paying 23.83 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 20.84×
3-year average22.80×3 positive annual observations
5-year average22.27×4 positive annual observations
10-year average20.84×9 positive annual observations
Peer median · TTM14.75×7 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 13.14× | -48.5% |
| Dec 31, 2024 | 25.53× | -14.2% |
| Dec 31, 2023 | 29.74× | N/M |
| Dec 31, 2022 | N/M | N/M |
| Dec 31, 2021 | 20.66× | +41.2% |
| Dec 31, 2020 | 14.64× | -24.1% |
| Dec 31, 2019 | 19.28× | -7.0% |
| Dec 31, 2018 | 20.73× | +4.1% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 19.92× | -16.8% |
| Dec 31, 2016 | 23.94× | +27.6% |
| Dec 31, 2015 | 18.76× | -7.7% |
| Dec 31, 2014 | 20.33× | +14.2% |
| Dec 31, 2013 | 17.81× | +21.3% |
| Dec 31, 2012 | 14.67× | -15.4% |
| Dec 31, 2011 | 17.34× | +8.3% |
| Dec 31, 2010 | 16.01× | +9.4% |
| Dec 31, 2009 | 14.63× | -18.8% |
| Dec 31, 2008 | 18.01× | +19.2% |
| Dec 31, 2007 | 15.11× | -18.5% |
| Dec 31, 2006 | 18.54× | -19.3% |
| Dec 31, 2005 | 22.96× | +45.5% |
| Dec 31, 2004 | 15.78× | -19.9% |
| Dec 31, 2003 | 19.69× | +11.7% |
| Dec 31, 2002 | 17.63× | -8.5% |
| Dec 31, 2001 | 19.27× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How SWX compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 SWX This stockSouthwest Gas Holdings, Inc. | 23.83× |
 BIPCBrookfield Infrastructure Corporation | N/M |
 SRSpire Inc. | 9.84× |
 OGSONE Gas, Inc. | 16.91× |
 TXNMTXNM Energy, Inc. | 27.39× |
 CMSCMS Energy Corporation | 24.61× |
 NJRNew Jersey Resources Corporation | 14.75× |
 PCGPG&E Corporation | 9.73× |
 ENICEnel Chile S.A. | 10.29× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does SWX’s P/E tell you?
Compare like with like
The median of the 7 positive peer ratios above is 14.75×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take SWX into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("SWX", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 93.19 ÷ EPS 3.91 = 23.83×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
SWX P/E ratio: common questions
The essentials behind the numbers.
Southwest Gas Holdings, Inc.'s current P/E is 23.83× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.