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Southwest Gas HoldingsSWX -0.34%65 Equity-to-Asset is 0.39 as of Jun. 2026, which is 30% above its 10-year median of 0.30. GuruFocus rates SWX with a GF Score™ of 65/100 and a GF Value™ of $53.66 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 508 Utilities - Regulated companies, Southwest Gas Holdings ranks better than 55.51% on this metric.
Southwest Gas Holdings (NYSE:SWX) Equity-to-Asset Explanation
Equity to Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity to Asset ratio (more leveraged) may have higher ROE % because of the leverage.
For banks, the required minimum Equity to Asset ratio by regulation is 5%. Some stronger banks may have Equity to Asset Ratio of more than 10%.
Southwest Gas Holdings Equity-to-Asset Related Terms
Southwest Gas Holdings Equity-to-Asset Historical Data
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The historical data trend for Southwest Gas Holdings's Equity-to-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Regulated Gas subindustry, Southwest Gas Holdings's Equity-to-Asset, along with its competitors' market caps and Equity-to-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Southwest Gas Holdings Equity-to-Asset vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Southwest Gas Holdings's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where Southwest Gas Holdings's Equity-to-Asset falls into.
Southwest Gas Holdings Equity-to-Asset Calculation
Equity to Asset ratio measures the ratios of the portion of the asset owned by shareholders out of the total asset. It indicates the leverage of the company, and the amount of debt the company uses in its operation.
Equity to Asset ratio is calculated by dividing total stockholders equity by total asset.
Southwest Gas Holdings's Equity to Asset Ratio for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Southwest Gas Holdings (SWX) has a Equity-to-Asset of 0.39 as of Jun. 2026. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Southwest Gas Holdings and its competitors. This is 30% above median its historical median of 0.30. Over the past decade, Southwest Gas Holdings' Equity-to-Asset has ranged from 0.23 to 0.39. According to the industry distribution chart, Southwest Gas Holdings ranks #226 out of 508 companies in the Utilities - Regulated industry, placing it in the top 44.5%.
Is Southwest Gas Holdings' Equity-to-Asset too high?
Southwest Gas Holdings' current Equity-to-Asset of 0.39 is 30% above median its 10-year median of 0.30. Over the past 10 years, this metric has ranged from a low of 0.23 to a high of 0.39. The Utilities - Regulated industry median Equity-to-Asset is 0.36. Southwest Gas Holdings' value of 0.39 is 8.3% above this industry median. Based on the distribution chart, Southwest Gas Holdings ranks #226 out of 508 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Southwest Gas Holdings has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Southwest Gas Holdings' Equity-to-Asset compare to NJR and BKH?
According to the Utilities - Regulated industry distribution chart, Southwest Gas Holdings ranks #226 out of 508 companies for Equity-to-Asset. This puts Southwest Gas Holdings in the upper half of its industry. The industry median Equity-to-Asset is 0.36. Southwest Gas Holdings' value of 0.39 is 8.3% above this benchmark. Historically, Southwest Gas Holdings' own Equity-to-Asset has ranged from 0.23 to 0.39 over the past decade. While the company's 10-year median is 0.30 vs. the industry median of 0.36, Southwest Gas Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Equity-to-Asset for an Utilities - Regulated company?
The median Equity-to-Asset among Utilities - Regulated companies is 0.36, based on 508 companies in the industry. Companies in the top quartile (top 25%) have a Equity-to-Asset significantly above this median, while those in the bottom quartile fall well below. However, Equity-to-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Southwest Gas Holdings's current Equity-to-Asset of 0.39 is 8.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Equity-to-Asset mean?
A high Equity-to-Asset can signal that a stock is expensive relative to its fundamentals. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Southwest Gas Holdings and its competitors. For the Utilities - Regulated industry, the median Equity-to-Asset is 0.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Southwest Gas Holdings's current Equity-to-Asset is 0.39, which is 30% above median its own 10-year median of 0.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Southwest Gas Holdings stock overvalued right now?
Based on GuruFocus' analysis, Southwest Gas Holdings (SWX) is currently considered Significantly Overvalued. The stock's GF Value™ is $53.66, compared to a current price of $92.09 — trading 71.6% above its estimated fair value. The current Equity-to-Asset is 0.39, which is 30% above median its 10-year median of 0.30 and 8.3% above the Utilities - Regulated industry median of 0.36. Southwest Gas Holdings' overall GF Score™ is 65/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Equity-to-Asset calculated?
Equity-to-Asset is calculated from a company's financial statements. For Southwest Gas Holdings (SWX), the current Equity-to-Asset is 0.39 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Southwest Gas Holdings (SWX) Overvalued in 2026?
Based on GuruFocus' analysis, Southwest Gas Holdings stock appears to be overvalued.
The current stock price of $92.09 is trading 71.6% above its estimated GF Value™ of $53.66.
GuruFocus considers Southwest Gas Holdings to be Significantly Overvalued.
Key valuation signals for SWX:
Equity-to-Asset: 0.39 (30% above median its 10-year median of 0.30)
GF Value™: $53.66 vs. price of $92.09 (71.6% above fair value)
Industry Position: 8.3% above the Utilities - Regulated median (#226 of 508)
No single metric tells the full story. See the SWX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Southwest Gas Holdings Inc is a utility company engaged in the purchasing, distributing, and transporting of natural gas in the American Southwest. The company segments its activities into natural gas distribution segment. The Natural gas distribution segment encompasses the company's core natural gas business as distributors in the states of Arizona and Nevada. Its division is responsible for roughly half of Southwest Gas' total revenue through the sale of natural gas to mainly residential and small commercial customers.
65GF Score
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