SWX
Southwest Gas Holdings
PE ratio, current and historical analysis
The current PE ratio for Southwest Gas Holdings stock as of Jun 22, 2026 is 13.79. This is calculated based on the TTM EPS of $6.42 and the stock price of $88.55 per share. The PE ratio marks a decrease of 17% from its last 4 quarters average of 16.6.
SWX PE ratio history
The average historical PE ratio of Southwest Gas Holdings for the last ten years is 21.65. The current P/E ratio of 13.79 is 36% lower than the historical average. Looking back at the last ten years, SWX's PE ratio peaked in the Jun 2022 quarter at 35.54, when the price was $87.08 and the EPS was $2.45. The lowest point was in the Sep 2025 quarter, when it reached 12.16 with a price of $78.34 and an EPS of $6.44.
Southwest Gas Holdings PE ratio by year
Maximum annual increase: 41.12% in 2021
Maximum annual decrease: -48.53% in 2025
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 13.14 | -48.53% | $80.02 | $6.09 |
| 2024 | 25.53 | -14.16% | $70.71 | $2.77 |
| 2023 | 29.74 | N/A | $63.35 | $2.13 |
| 2022 | N/A | N/A | $61.88 | -$3.1 |
| 2021 | 20.66 | 41.12% | $70.05 | $3.39 |
| 2020 | 14.64 | -24.07% | $60.75 | $4.15 |
| 2019 | 19.28 | -6.99% | $75.97 | $3.94 |
| 2018 | 20.73 | 4.07% | $76.5 | $3.69 |
| 2017 | 19.92 | -16.79% | $80.48 | $4.04 |
| 2016 | 23.94 | 27.61% | $76.62 | $3.2 |
| 2015 | 18.76 | -7.72% | $55.16 | $2.94 |
| 2014 | 20.33 | 14.15% | $61.81 | $3.04 |
| 2013 | 17.81 | 21.4% | $55.91 | $3.14 |
| 2012 | 14.67 | -15.4% | $42.41 | $2.89 |
| 2011 | 17.34 | 8.31% | $42.49 | $2.45 |
Southwest Gas Holdings PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 13.54 | 3.04% | $86.9 | $6.42 |
| Dec 2025 | 13.14 | 8.06% | $80.02 | $6.09 |
| Sep 2025 | 12.16 | -56.02% | $78.34 | $6.44 |
| Jun 2025 | 27.65 | 20.53% | $74.39 | $2.69 |
| Mar 2025 | 22.94 | -10.14% | $71.8 | $3.13 |
| Dec 2024 | 25.53 | -13.46% | $70.71 | $2.77 |
| Sep 2024 | 29.5 | 6.88% | $73.76 | $2.5 |
| Jun 2024 | 27.6 | -2.47% | $70.38 | $2.55 |
| Mar 2024 | 28.3 | -4.84% | $76.13 | $2.69 |
| Dec 2023 | 29.74 | N/A | $63.35 | $2.13 |
| Sep 2023 | N/A | N/A | $60.41 | -$3.17 |
| Jun 2023 | N/A | N/A | $63.65 | -$3.4 |
| Mar 2023 | N/A | N/A | $62.45 | -$3.9 |
| Dec 2022 | N/A | N/A | $61.88 | -$3.1 |
| Sep 2022 | 28.35 | -20.23% | $69.75 | $2.46 |
SWX Price vs fair value
SWX average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
SWX's current PE ratio is lower than its 3, 5 and 10-year averages.
PE comparison
Southwest Gas Holdings's price to earnings (P/E) of 13.79 is lower than the Utilities sector, the industry and its peers average. In comparison with the Utilities sector average of 19.66, Southwest Gas Holdings's price to earnings (P/E) is 30% lower.
SWX PE vs peers
In comparison to its peers SRE and OKE, SWX's PE ratio is lower, but it is higher than NFG's. Southwest Gas Holdings's PE ratio is trading below the peer average of 20.02.
| Stock name | PE ratio | Market cap |
|---|---|---|
| NFG National Fuel Gas Co | 10.31 | $7.3B |
| SWX Southwest Gas Holdings Inc | 13.83 | $6.42B |
| OKE Oneok Inc | 15.62 | $55.22B |
| NWN Northwest Natural Holding Co | 16.74 | $2.08B |
| ATO Atmos Energy Corp | 20.9 | $28.67B |
| CNP Centerpoint Energy Inc | 26.68 | $28.45B |
| SRE Sempra Energy | 31.07 | $60.11B |
Frequently asked questions
What is Southwest Gas Holdings's PE ratio?
As of Jun 22, 2026, SWX stock has a price to earnings ratio of 13.79.
What is the 3-year average PE ratio for Southwest Gas Holdings (SWX)?
Over the last 3 years, the average price to earnings ratio for SWX stock is 23.01.
What is the 5-year average PE ratio for Southwest Gas Holdings (SWX)?
Over the last 5 years, the average price to earnings ratio for SWX stock is 23.22.
What is the highest PE ratio for SWX?
Over the last ten years, the quarterly PE ratio reached its highest level at 35.54 in the Jun 2022 quarter.
How does the current PE ratio for SWX compare to its historical average?
The current PE ratio of SWX is 36% lower than the 10-year historical average.
How is SWX's PE ratio calculated (Southwest Gas Holdings PE ratio formula)?
You can calculate the P/E ratio by dividing the most recent stock price by the trailing twelve months EPS. As of today (Jun 22, 2026), Southwest Gas Holdings's share price is $88.55. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $6.42. Therefore, Southwest Gas Holdings's PE ratio for today is 13.79. PE RATIO(13.79) = STOCK PRICE($88.55) / TTM EPS($6.42)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.