Southwest Gas Holdings annual debt-to-ebitda ratio
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Southwest Gas Holdings Debt-to-EBITDA Ratio Growth & History (SWX)
Southwest Gas Holdings's debt-to-ebitda ratio was 4.36 for fiscal 2025.
View full Southwest Gas Holdings company overviewSouthwest Gas Holdings annual debt-to-ebitda ratio history
| Fiscal year | Period ended | Debt-to-EBITDA ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 4.36 | −1.58 | −26.60% |
| 2024 | 2024-12-31 | 5.94 | −3.03 | −33.82% |
| 2023 | 2023-12-31 | 8.97 | −4.46 | −33.18% |
| 2022 | 2022-12-31 | 13.43 | 4.89 | +57.33% |
| 2021 | 2021-12-31 | 8.54 | 4.72 | +123.82% |
| 2020 | 2020-12-31 | 3.81 | −0.17 | −4.26% |
| 2019 | 2019-12-31 | 3.98 | 0.20 | +5.42% |
| 2018 | 2018-12-31 | 3.78 | 0.35 | +10.13% |
| 2017 | 2017-12-31 | 3.43 | 0.78 | +29.65% |
| 2016 | 2016-12-31 | 2.65 | — | — |
Southwest Gas Holdings quarterly debt-to-ebitda ratio
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-EBITDA ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 4.15 | −2.60 | −38.48% |
| Q1 2026 | 2026-03-31 | 4.30 | −2.52 | −36.98% |
| Q4 2025 | 2025-12-31 | 4.36 | −1.58 | −26.60% |
| Q3 2025 | 2025-09-30 | 4.90 | −4.69 | −48.89% |
| Q2 2025 | 2025-06-30 | 6.75 | −1.91 | −22.07% |
| Q1 2025 | 2025-03-31 | 6.82 | −1.81 | −20.98% |
| Q4 2024 | 2024-12-31 | 5.94 | −3.03 | −33.82% |
| Q3 2024 | 2024-09-30 | 9.59 | −2.42 | −20.15% |
| Q2 2024 | 2024-06-30 | 8.66 | −3.33 | −27.76% |
| Q1 2024 | 2024-03-31 | 8.63 | −4.00 | −31.66% |
| Q4 2023 | 2023-12-31 | 8.97 | −4.46 | −33.18% |
| Q3 2023 | 2023-09-30 | 12.01 | 4.42 | +58.23% |
| Q2 2023 | 2023-06-30 | 11.99 | 4.15 | +52.84% |
| Q1 2023 | 2023-03-31 | 12.63 | 4.36 | +52.78% |
| Q4 2022 | 2022-12-31 | 13.43 | 4.89 | +57.33% |
| Q3 2022 | 2022-09-30 | 7.59 | 2.16 | +39.85% |
| Q2 2022 | 2022-06-30 | 7.85 | 3.87 | +97.23% |
| Q1 2022 | 2022-03-31 | 8.27 | 4.36 | +111.43% |
| Q4 2021 | 2021-12-31 | 8.54 | 4.72 | +123.82% |
| Q3 2021 | 2021-09-30 | 5.43 | 1.63 | +42.92% |
| Q2 2021 | 2021-06-30 | 3.98 | −0.05 | −1.17% |
| Q1 2021 | 2021-03-31 | 3.91 | 0.11 | +2.81% |
| Q4 2020 | 2020-12-31 | 3.81 | −0.17 | −4.26% |
| Q3 2020 | 2020-09-30 | 3.80 | −0.07 | −1.74% |
| Q2 2020 | 2020-06-30 | 4.03 | 0.28 | +7.42% |
| Q1 2020 | 2020-03-31 | 3.80 | 0.12 | +3.31% |
| Q4 2019 | 2019-12-31 | 3.98 | 0.20 | +5.42% |
| Q3 2019 | 2019-09-30 | 3.86 | 0.25 | +6.98% |
| Q2 2019 | 2019-06-30 | 3.75 | 0.25 | +7.05% |
| Q1 2019 | 2019-03-31 | 3.68 | 0.21 | +6.09% |
| Q4 2018 | 2018-12-31 | 3.78 | 0.35 | +10.13% |
| Q3 2018 | 2018-09-30 | 3.61 | 0.45 | +14.09% |
| Q2 2018 | 2018-06-30 | 3.50 | 0.58 | +19.96% |
| Q1 2018 | 2018-03-31 | 3.47 | 0.76 | +28.14% |
| Q4 2017 | 2017-12-31 | 3.43 | 0.78 | +29.65% |
| Q3 2017 | 2017-09-30 | 3.17 | — | — |
| Q2 2017 | 2017-06-30 | 2.92 | — | — |
| Q1 2017 | 2017-03-31 | 2.71 | — | — |
| Q4 2016 | 2016-12-31 | 2.65 | — | — |
Southwest Gas Holdings debt-to-ebitda ratio trends
Over the last five fiscal years, Southwest Gas Holdings's debt-to-ebitda ratio increased from 3.81 to 4.36, a change of 0.55. The latest reported quarter, Q2 2026, shows 4.15.
About the metric
What the debt-to-EBITDA ratio means
Debt-to-EBITDA compares interest-bearing debt with operating earnings before interest, taxes, depreciation, and amortization. It is commonly used to assess leverage, but it is generally unsuitable for banks and other financial companies.
Calculation and source
How debt-to-EBITDA is calculated
TickerStat divides period-end total debt by annual EBITDA. Quarterly observations use trailing-12-month EBITDA. Periods with zero or negative EBITDA are excluded because the leverage multiple would not be meaningful. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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