Southwest Gas Holdings (SWX) FY2020 results: revenue $3.3 billion, up 5.7% on the year
Southwest Gas Holdings, Inc. (SWX) reported revenue of $3.3 billion for fiscal 2020, the year ended 31 December 2020, up 5.7% on the year before. Net income was $232 million, up 8.6%, and diluted earnings per share $4.14. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$3.3 billion
+5.7% on the year
FY2015FY2020
Operating margin
12.8%
11.9% a year earlier
FY2015FY2020
Net income
$232 million
+8.6% on the year
FY2015FY2020
Diluted EPS
$4.14
+5.1% on the year
FY2015FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,299
3,120
2,880
+5.7%
Cost of revenue
1,729
1,573
1,388
+9.9%
Gross profit
1,569
1,547
1,492
+1.5%
Gross margin
47.6%
49.6%
51.8%
Operating income
423
372
357
+13.8%
Operating margin
12.8%
11.9%
12.4%
Interest expense
111
109
96.7
+2.1%
Pre-tax income
305
273
243
+11.8%
Income tax
65.8
56.0
61.7
+17.4%
Effective tax rate
21.6%
20.5%
25.3%
Net income
232
214
182
+8.6%
Net margin
7.0%
6.9%
6.3%
Diluted EPS
$4.14
$3.94
$3.68
+5.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
626
500
529
+25.1%
Capital expenditure
825
938
766
-12.0%
Free cash flow
-199
-438
-237
Free cash flow margin
-6.0%
-14.0%
-8.2%
Cash from investing
-802
-952
-999
Cash from financing
210
415
513
-49.5%
Depreciation and amortisation
332
303
249
+9.5%
Share-based compensation
7.1
6.9
6.1
+3.2%
Dividends paid
126
116
100
+8.1%
Dividend per share
n/a
n/a
$2.08
Diluted shares, weighted
56m
54m
49m
+3.2%
Shares outstanding at period end
57m
55m
53m
+4.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,675
2,506
2,252
+6.7%
Non-controlling interest
n/a
0.0
-0.5
Redeemable equity
166
84.5
81.8
+96.0%
Debt
2,880
2,675
2,292
+7.7%
Finance lease liabilities
n/a
0.4
n/a
Other liabilities
3,016
2,904
2,732
+3.8%
Total liabilities and equity
8,736
8,170
7,358
+6.9%
Goodwill
345
343
359
+0.6%
Cash and equivalents
83.4
49.5
85.4
+68.3%
Receivables
522
474
414
+10.1%
Other assets
7,785
7,303
6,499
+6.6%
Total assets
8,736
8,170
7,358
+6.9%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.