Southwest Gas Holdings annual debt-to-equity ratio
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2025
Southwest Gas Holdings Debt-to-Equity Ratio Growth & History (SWX)
Southwest Gas Holdings's debt-to-equity ratio was 0.89 for fiscal 2025.
View full Southwest Gas Holdings company overviewSouthwest Gas Holdings annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.89 | −0.32 | −26.36% |
| 2024 | 2024-12-31 | 1.20 | −0.39 | −24.62% |
| 2023 | 2023-12-31 | 1.60 | −0.36 | −18.54% |
| 2022 | 2022-12-31 | 1.96 | −0.18 | −8.49% |
| 2021 | 2021-12-31 | 2.14 | 1.06 | +98.82% |
| 2020 | 2020-12-31 | 1.08 | 0.00 | +0.32% |
| 2019 | 2019-12-31 | 1.07 | 0.06 | +5.43% |
| 2018 | 2018-12-31 | 1.02 | −0.11 | −9.38% |
| 2017 | 2017-12-31 | 1.12 | 0.16 | +16.78% |
| 2016 | 2016-12-31 | 0.96 | — | — |
Southwest Gas Holdings quarterly debt-to-equity ratio
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Q1.17
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Q3.17
Q4.17
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Q1.19
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Q2.20
Q3.20
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Q1.21
Q2.21
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Q3.22
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Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.85 | −0.43 | −33.76% |
| Q1 2026 | 2026-03-31 | 0.86 | −0.55 | −39.33% |
| Q4 2025 | 2025-12-31 | 0.89 | −0.32 | −26.36% |
| Q3 2025 | 2025-09-30 | 0.90 | −0.57 | −38.68% |
| Q2 2025 | 2025-06-30 | 1.28 | −0.21 | −13.82% |
| Q1 2025 | 2025-03-31 | 1.41 | −0.18 | −11.30% |
| Q4 2024 | 2024-12-31 | 1.20 | −0.39 | −24.62% |
| Q3 2024 | 2024-09-30 | 1.47 | −0.18 | −10.84% |
| Q2 2024 | 2024-06-30 | 1.49 | −0.15 | −8.97% |
| Q1 2024 | 2024-03-31 | 1.59 | 0.05 | +3.01% |
| Q4 2023 | 2023-12-31 | 1.60 | −0.36 | −18.54% |
| Q3 2023 | 2023-09-30 | 1.65 | −0.20 | −10.59% |
| Q2 2023 | 2023-06-30 | 1.64 | −0.12 | −7.04% |
| Q1 2023 | 2023-03-31 | 1.54 | −0.27 | −14.86% |
| Q4 2022 | 2022-12-31 | 1.96 | −0.18 | −8.49% |
| Q3 2022 | 2022-09-30 | 1.84 | 0.42 | +29.40% |
| Q2 2022 | 2022-06-30 | 1.76 | 0.67 | +60.92% |
| Q1 2022 | 2022-03-31 | 1.81 | 0.70 | +63.57% |
| Q4 2021 | 2021-12-31 | 2.14 | 1.06 | +98.82% |
| Q3 2021 | 2021-09-30 | 1.42 | 0.36 | +33.93% |
| Q2 2021 | 2021-06-30 | 1.09 | −0.00 | −0.37% |
| Q1 2021 | 2021-03-31 | 1.11 | 0.07 | +7.09% |
| Q4 2020 | 2020-12-31 | 1.08 | 0.00 | +0.32% |
| Q3 2020 | 2020-09-30 | 1.06 | 0.02 | +1.81% |
| Q2 2020 | 2020-06-30 | 1.10 | 0.10 | +10.27% |
| Q1 2020 | 2020-03-31 | 1.03 | 0.04 | +4.25% |
| Q4 2019 | 2019-12-31 | 1.07 | 0.06 | +5.43% |
| Q3 2019 | 2019-09-30 | 1.04 | −0.08 | −7.14% |
| Q2 2019 | 2019-06-30 | 1.00 | −0.09 | −7.94% |
| Q1 2019 | 2019-03-31 | 0.99 | −0.10 | −8.79% |
| Q4 2018 | 2018-12-31 | 1.02 | −0.11 | −9.38% |
| Q3 2018 | 2018-09-30 | 1.12 | 0.03 | +3.12% |
| Q2 2018 | 2018-06-30 | 1.08 | 0.08 | +8.30% |
| Q1 2018 | 2018-03-31 | 1.09 | 0.16 | +17.40% |
| Q4 2017 | 2017-12-31 | 1.12 | 0.16 | +16.78% |
| Q3 2017 | 2017-09-30 | 1.09 | — | — |
| Q2 2017 | 2017-06-30 | 1.00 | — | — |
| Q1 2017 | 2017-03-31 | 0.93 | — | — |
| Q4 2016 | 2016-12-31 | 0.96 | — | — |
Southwest Gas Holdings debt-to-equity ratio trends
Over the last five fiscal years, Southwest Gas Holdings's debt-to-equity ratio decreased from 1.08 to 0.89, a change of −0.19. The latest reported quarter, Q2 2026, shows 0.85.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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