BIPC vs SWX
Brookfield Infrastructure Corporation and Southwest Gas Holdings, Inc., side by side — 8 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | BIPC | SWX |
|---|---|---|
| Revenue | $3.7B | $1.9B |
| Net income | $-241.0M | $439.8M |
| Gross margin | 63.6% | 2.4% |
| Net margin | −6.6% | 22.7% |
| Return on equity | 11.9% | 11.8% |
| Diluted EPS | — | $6.08 |
| Dividend / share | — | $2.48 |
| Payout ratio | — | 40.6% |
| Free cash flow | $2.0M | $-251.8M |
| Equity | $-1.3B | $4.0B |
| Net debt / equity | — | 0.74× |
| Current ratio | 0.38× | 1.28× |
| Revenue CAGR 5y | 20.7% | −10.1% |
| Profit CAGR 5y | — | 13.6% |
BIPC bills 1.9× the revenue of SWX, and BIPC closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
8 years side by side
| Fiscal year | BIPC | SWX |
|---|---|---|
| FY2025 | $3.7B | $1.9B |
| FY2024 | $3.7B | $2.5B |
| FY2023 | $2.5B | $2.5B |
| FY2022 | $1.9B | $5.0B |
| FY2021 | $1.6B | $3.7B |
| FY2020 | $1.4B | $3.3B |
| FY2019 | $1.6B | $1.4B |
| FY2018 | $1.6B | $1.3B |
Net income by year
Bottom line
| Fiscal year | BIPC | SWX |
|---|---|---|
| FY2025 | $-241.0M | $439.8M |
| FY2024 | $-608.0M | $198.8M |
| FY2023 | $111.0M | $150.9M |
| FY2022 | $1.1B | $-203.3M |
| FY2021 | $-368.0M | $200.8M |
| FY2020 | $-552.0M | $232.3M |
| FY2019 | $197.0M | $213.9M |
| FY2018 | $202.0M | $182.3M |
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The companies