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STOCK COMPARISON

Southwest Gas Holdings vs Naturgy Energy Group: Fair Value & Quality

Both stocks run through our valuation models. Here is how Southwest Gas Holdings (SWX) and Naturgy Energy Group (NTGY) compare, as of Aug 10, 2026.

As of Aug 10, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Southwest Gas Holdings trades at $92.09 versus a fair value of $70.67 (-23%), while Naturgy Energy Group trades at €28.72 versus €35.80 (+25%).
Southwest Gas Holdings
SWX · USD · Utilities
-23%
upside to fair value
overvalued
Price$92.09
Fair Value$70.67
Quality47/100
Naturgy Energy Group
NTGY.MC · EUR · Utilities
+25%
upside to fair value
undervalued
Price€28.72
Fair Value€35.80
Quality55/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Southwest Gas HoldingsNaturgy Energy Group
Valuation
28.2×P/E (TTM)13.0×
3.78×P/S (TTM)1.62×
1.70×P/B3.30×
11.5×EV/EBITDA7.9×
2.23×PEG6.40×
2.7%Dividend yield
$2.48Dividend per share
Profitability
26%Net margin11%
38%Operating margin18%
6%Return on equity22%
3%Return on assets6%
Growth
-22%Revenue growth (YoY)-7%
11.6%Avg. growth/yr (3Y)-17.0%
10.4%Avg. growth/yr (5Y)4.9%
Balance & size
0.87×Debt / equity1.38×
$7BMarket cap$31B
expensiveGrowth qualityhealthy

Southwest Gas Holdings leads: 7 to 6 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Southwest Gas Holdingsof which business quality 43 · market factors 69 Naturgy Energy Groupof which business quality 52 · market factors 67
ProfitabilityMargins and returns on capital today
38
45
Quality GrowthAre margins and returns improving?
55
37
CashflowEarnings quality: real cash, not paper profit
37
67
Fin. StrengthBalance sheet, leverage, solvency risk
27
30
InvestmentDisciplined investing over empire-building
55
71
Low VolatilityCalm price path (market factor)
94
94
MomentumPrice trend over the last 3–12 months (market factor)
52
51
52W MomentumDistance to the 52-week high (market factor)
71
64
Net IssuanceBuybacks instead of dilution
62
76

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Southwest Gas Holdings

Earnings-Based$22.67
Dividend Discount$33.25
Multiples$69.37
Asset-Based$36.67
Economic Profit$35.28
Growth Earnings$89.08

12 of 15 models see the stock below the current price.

Naturgy Energy Group

DCF Models€30.77
Earnings-Based€26.55
Dividend Discount€23.41
Multiples€40.20
Asset-Based€6.76
Growth DCF€32.80
Economic Profit€20.95
Growth Earnings€30.66

11 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Southwest Gas Holdings
Bear $50.27Fair Value $70.67Bull $98.46
$92.09 = current price (white tick)
Naturgy Energy Group
Bear €21.46Fair Value €35.80Bull €49.13
€28.72 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Southwest Gas Holdings · Utilities

Quality score47 · above median
Fair value upside-23% · below median

Naturgy Energy Group · Utilities

Quality score55 · Top 25%
Fair value upside+25% · above median

Bottom line

As of Aug 10, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Southwest Gas Holdings trades at $92.09 versus a fair value of $70.67 (-23%), while Naturgy Energy Group trades at €28.72 versus €35.80 (+25%).

Naturgy Energy Group has the higher quality score (55/100).

See the full analysis →

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.