Southwest Gas Holdings Inc (SWX)
Debt-to-equity ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 4,609,840 | 5,235,540 | 5,284,840 | 4,577,600 | 4,403,300 | 5,865,590 | 4,588,450 | 4,559,760 | 4,115,680 | 3,573,780 | 2,478,820 | 2,696,570 | 2,732,200 | 2,685,720 | 2,639,320 | 2,310,080 | 2,300,480 | 2,462,120 | 2,373,000 | 2,106,270 |
| Total stockholders’ equity | US$ in thousands | 3,310,040 | 3,238,740 | 3,262,830 | 3,296,160 | 3,058,760 | 3,412,920 | 3,458,850 | 3,489,080 | 2,953,820 | 2,909,820 | 2,846,880 | 2,773,720 | 2,674,950 | 2,619,240 | 2,611,300 | 2,547,900 | 2,505,910 | 2,423,710 | 2,419,360 | 2,347,000 |
| Debt-to-equity ratio | 1.39 | 1.62 | 1.62 | 1.39 | 1.44 | 1.72 | 1.33 | 1.31 | 1.39 | 1.23 | 0.87 | 0.97 | 1.02 | 1.03 | 1.01 | 0.91 | 0.92 | 1.02 | 0.98 | 0.90 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $4,609,840K ÷ $3,310,040K
= 1.39
The debt-to-equity ratio of Southwest Gas Holdings Inc has been fluctuating over the past eight quarters, ranging from a low of 1.54 in Q1 2023 to a high of 1.96 in Q4 2022. This ratio indicates that the company has been relying more on debt financing relative to equity during these periods. The overall trend shows a gradual decrease in the debt-to-equity ratio from Q4 2022 to Q1 2023, suggesting a potential effort to reduce leverage. However, the ratio increased slightly in Q2 and Q3 2023 before dropping again in Q4 2023. The company should continue to monitor and manage its debt levels to maintain a healthy balance between debt and equity in its capital structure.
Peer comparison
Dec 31, 2023