Southwest Gas Holdings (SWX) Operating Expenses (2009 - 2026)
Southwest Gas Holdings (SWX) posted Operating Expenses of $273.83 million for Q2 2026, down 17.5% from $331.83 million a year earlier and down 25.1% from the prior quarter.
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Analysis
Southwest Gas Holdings (SWX) Operating Expenses (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Southwest Gas Holdings was $1.24 billion, down 22.7% year-over-year; for FY2025, it was $1.47 billion, down 29.1% from FY2024.
- Annual Operating Expenses has declined for three consecutive years, with a five-year compound annual growth rate of -12.6% (FY2020 to FY2025).
- In prior years, Southwest Gas Holdings' Operating Expenses was $2.07 billion in FY2024 (-7.7%), $2.24 billion in FY2023 (-55.0%), $4.98 billion in FY2022 (+50.5%) and $3.31 billion in FY2021 (+15.1%).
- The Q2 2026 figure stands as the lowest quarterly Operating Expenses in data going back to Q4 2009.
- On a year-over-year basis, Operating Expenses has declined in each of the last six quarters, with an average decline of 36.4% over the last six quarters.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q4 2022, with growth of 24.3%; the weakest was Q2 2025, with a decline of 69.8%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $365.77 million (Q1 2026), $322.07 million (Q4 2025) and $279.9 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enel Chile | 287.73 Bn | 287.73 Bn | 890.00 Mn | -140.00 Mn |
| 2 | Nextera Energy | 160.25 Bn | 161.15 Bn | - | 5.29 Bn |
| 3 | Southern | 96.31 Bn | 87.36 Bn | 5.92 Bn | 5.20 Bn |
| 4 | Duke Energy | 88.79 Bn | 87.40 Bn | 6.74 Bn | 6.84 Bn |
| 5 | National Grid | 79.16 Bn | 60.69 Bn | - | - |
| 6 | American Electric Power | 65.09 Bn | 63.47 Bn | 3.84 Bn | 4.20 Bn |
| 7 | Dominion Energy | 53.95 Bn | 56.63 Bn | - | 4.15 Bn |
| 8 | Sempra | 51.22 Bn | 50.35 Bn | 2.89 Bn | 1.35 Bn |
| 9 | Entergy | 47.09 Bn | 36.28 Bn | - | 2.67 Bn |
| 10 | Southwest Gas Holdings | 5.99 Bn | 3.88 Bn | - | 273.83 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 273.83 Mn |
| Mar 31, 2026 | 365.77 Mn |
| Dec 31, 2025 | 322.07 Mn |
| Sep 30, 2025 | 279.90 Mn |
| Jun 30, 2025 | 331.83 Mn |
| Mar 31, 2025 | 532.70 Mn |
| Dec 31, 2024 | 402.52 Mn |
| Sep 30, 2024 | 339.01 Mn |
| Jun 30, 2024 | 1.10 Bn |
| Mar 31, 2024 | 1.42 Bn |
| Sep 30, 2023 | 1.11 Bn |
| Jun 30, 2023 | 1.21 Bn |
| Mar 31, 2023 | 1.47 Bn |
| Sep 30, 2022 | 1.08 Bn |
| Jun 30, 2022 | 1.10 Bn |
| Mar 31, 2022 | 1.10 Bn |
| Sep 30, 2021 | 865.40 Mn |
| Jun 30, 2021 | 762.16 Mn |
| Mar 31, 2021 | 712.45 Mn |
| Sep 30, 2020 | 736.96 Mn |
API Access
Southwest Gas Holdings Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=SWX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "SWX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=SWX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();