All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
1 warning event since 2017; the latest 2026-01-09.
From the record
Southwest Gas Holdings, Inc.'s filings since 2017 show 1 warning event: a warning not to rely on past financial statements (8-K item 4.02, the latest 2026-01-09) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
+11% a year over 9 filed years; profitable in 7 of 8.
From the record
Southwest Gas Holdings, Inc.'s 9 filed years say what it did: revenue went from $2.4 billion in fiscal 2015 to $5.4 billion in fiscal 2023, up 11% a year; it rose in 8 of 8 years; it never fell from a peak; net income was positive in 7 of 8 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
Share count grew 3.3% a year. 22% of cash flow returned. Insiders: 2 sales, 0 purchases.
From the record
Over the 3 fiscal years to 2025-12-31, Southwest Gas Holdings, Inc.'s diluted share count grew about 3.3% a year, and dividends and buybacks returned about 22% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 2 sales (1 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they doing right now?
Is it financially healthy right now?
ROE 11%: 11¢ of profit per shareholder dollar. Leverage 62%: owes 62¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, Southwest Gas Holdings, Inc. earned about 11 cents of profit for every dollar of shareholders' money. Leverage: it owed about 62 cents per dollar of assets, and net share issuance: its share count grew 0.4% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
top 36% of 16 in its family; net margin 2.8%.
From the record
Southwest Gas Holdings, Inc.'s standing among 16 graded names in its industry family: revenue of $5.4 billion in fiscal 2023 ranks in the top 34% by size; a net margin of 2.8% ranks in the bottom 41%; revenue growth of 18.1% a year over the last 3 filed years ranks in the top 16% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
bottom 33% of 15 in its family for leadership; chief executive since 2022.
From the record
Southwest Gas Holdings, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Haller, Karen S (President and CEO, as filed), filing under that title since 2022-10-11, 4.1 years (bottom 43% of its family); most of the 20 officers and directors filing now have filed since the record of its people begins (2022-05-23), a floor of 4.4 years the record cannot see past, so that part is not read; 13 officer or director changes were reported on Form 8-K since 2023-11-13, against the 20 people in charge now (bottom 22%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
SI estimate 3.6/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: Southwest Gas Holdings, Inc.'s room to expand is put at 3.6 of 10 with a confidence of 35 of 100, because read from one part only, cash less debt against assets, which ranks in the bottom 36% of 19 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue. A filing that carries the missing parts replaces this estimate with the filed reading.
What could actually drive growth from here?
top 37% of 17 in its family for growth drivers.
From the record
Southwest Gas Holdings, Inc.'s growth drivers, from the filed years to fiscal 2023: revenue grew 18.1% a year over the last three filed years against 11% over all 9, speeding up (top 9% of its family); the newest year grew 9.6% (top 41%); capital spending grew -2% a year (bottom 38%) (its annual reports). Southwest Gas Holdings, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
top 46% of 16 in its family for expectations against reality.
From the record
Southwest Gas Holdings, Inc.'s newest year against its own record: revenue of $5.4 billion in fiscal 2023 came in 10.7% below the $6.1 billion its prior three years' pace pointed to (bottom 22% of its family); net income of $151 million against a prior three-year average of $77 million (top 26%); a net margin of 2.8% against 2.8% before (top 34%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made