Southwest Airlines Co. (LUV)
NYSE: LUV · Real-Time Price · USD
46.43
+2.98 (6.86%)
At close: Nov 4, 2026, 4:00 PM EST
45.78
-0.65 (-1.40%)
After-hours: Nov 4, 2026, 4:49 PM EST
Southwest Airlines Co. Financials Overview
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Revenue Revenue Growth | 31,546 | 28,063 | 27,483 | 26,091 | 23,814 | 15,790 |
Revenue Growth | 14.50% | 2.11% | 5.33% | 9.56% | 50.82% | 74.51% |
Gross Profit Gross Profit Growth | 6,985 | 6,185 | 5,860 | 5,557 | 5,908 | 2,333 |
Operating Income Operating Income Growth | 1,434 | 478 | 285 | 222 | 1,010 | -1,129 |
Net Income Net Income Growth | 1,053 | 441 | 465 | 465 | 539 | 977 |
Earnings Per Share EPS Growth | 2.04 | 0.79 | 0.75 | 0.76 | 0.87 | 1.61 |
EPS Growth | 207.11% | 5.02% | -0.26% | -13.46% | -45.73% | - |
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Passenger Non-Loyalty Passenger Non-Loyalty Growth | 22,745 | 20,441 | 20,467 | 19,073 | 17,645 | 11,377 |
Passenger Loyalty - Air Transportation Passenger Loyalty - Air Transportation Growth | 2,972 | 3,259 | 3,484 | 3,639 | 3,028 | 2,136 |
Passenger Ancillary Sold Separately Passenger Ancillary Sold Separately Growth | 3,157 | 1,835 | 1,029 | 925 | 735 | 553 |
Freight Freight Growth | 185 | 171 | 175 | 175 | 177 | 187 |
Other Other Growth | 2,486 | 2,357 | 2,328 | 2,279 | 2,229 | 1,537 |
Revenue (Total) Revenue (Total) Growth | 31,545 | 28,063 | 27,483 | 26,091 | 23,814 | 15,790 |
Fiscal Year | Current | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash & Investments Cash & Investments Growth | 3,624 | 3,231 | 8,725 | 11,474 | 12,292 | 15,504 |
Total Debt Total Debt Growth | 6,871 | 5,981 | 8,058 | 9,200 | 9,431 | 12,285 |
Net Cash (Debt) Net Cash Growth | -3,247 | -2,750 | 667 | 2,274 | 2,861 | 3,219 |
Net Cash Growth | - | - | -70.67% | -20.52% | -11.12% | 185.12% |
Net Cash Per Share Net Cash Per Share Growth | -6.27 | -4.93 | 1.04 | 3.55 | 4.46 | 5.29 |
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Operating Cash Flow Operating Cash Flow Growth | 2,755 | 1,842 | 462 | 3,164 | 3,790 | 2,322 |
Capital Expenditures CapEx Growth | -3,205 | -2,673 | -2,054 | -3,520 | -3,946 | -511 |
Free Cash Flow Free Cash Flow Growth | -450 | -831 | -1,592 | -356 | -156 | 1,811 |
Free Cash Flow Growth | - | - | - | - | - | - |
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Gross Margin | 22.14% | 22.04% | 21.32% | 21.30% | 24.81% | 14.77% |
Operating Margin | 4.55% | 1.70% | 1.04% | 0.85% | 4.24% | -7.15% |
Pretax Margin | 4.29% | 2.01% | 2.18% | 2.43% | 3.06% | 8.39% |
Profit Margin | 3.34% | 1.57% | 1.69% | 1.78% | 2.26% | 6.19% |
FCF Margin | -1.43% | -2.96% | -5.79% | -1.36% | -0.66% | 11.47% |
Fiscal Year | Current | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Period Ending | Nov '26 Nov 4, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 |
Dividend Per Share Dividend Per Share Growth | 0.720 | 0.720 | 0.720 | 0.720 | 0.180 |
Dividend Per Share Growth | 0% | 0% | 0% | 300.00% | - |
Dividend Yield | 1.55% | 1.74% | 2.12% | 2.50% | 0.53% |
Fiscal Year | Current | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Nov '26 Nov 4, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
PE Ratio | 22.73 | 48.47 | 43.36 | 37.02 | 37.09 | 25.96 |
Forward PE | 14.34 | 15.58 | 21.53 | 27.85 | 11.30 | 41.58 |
P/FCF Ratio | - | - | - | - | - | 14.00 |
PS Ratio | 0.72 | 0.76 | 0.73 | 0.66 | 0.84 | 1.61 |