Southwest Airlines Co. Income Statement

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	Jun '26 Jun 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	30,073	28,063	27,483	26,091	23,814	15,790
Revenue Growth	9.47%	2.11%	5.33%	9.56%	50.82%	74.51%
Cost of Revenue	9,688	8,645	9,127	9,194	8,335	5,620
Gross Profit	20,385	19,418	18,356	16,897	15,479	10,170
Selling, General & Admin	13,396	12,963	12,240	11,152	9,376	4,783
Depreciation & Amortization Expenses	1,565	1,560	1,657	1,522	1,351	1,272
Other Operating Expenses	4,383	4,467	4,138	3,999	3,735	2,394
Total Operating Expenses	19,344	18,990	18,035	16,673	14,462	8,449
Operating Income	1,041	428	321	224	1,017	1,721
Interest Income	124	205	497	583	217	13
Interest Expense	-146	-113	-214	-236	-301	-431
Other Non-Operating Income (Expense)	49	43	-6	62	-205	22
Total Non-Operating Income (Expense)	27	135	277	409	-289	-396
Pretax Income	1,068	563	598	633	728	1,325
Provision for Income Taxes	231	122	133	168	189	348
Net Income	837	441	465	465	539	977
Net Income to Common	837	441	465	465	539	977
Net Income Growth	113.52%	-5.16%	0%	-13.73%	-44.83%	-
Shares Outstanding (Basic)	507	540	598	595	593	592
Shares Outstanding (Diluted)	511	558	643	640	642	609
Shares Change	-13.69%	-13.22%	0.47%	-0.31%	5.42%	7.79%
EPS (Basic)	1.66	0.82	0.78	0.78	0.91	1.65
EPS (Diluted)	1.63	0.79	0.76	0.76	0.87	1.61
EPS Growth	146.97%	3.95%	0%	-12.64%	-45.96%	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 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
Free Cash Flow	-455	-831	-1,592	-356	-134	1,817
Free Cash Flow Growth	-	-	-	-	-	-
Free Cash Flow Per Share	-0.89	-1.49	-2.48	-0.56	-0.21	2.98
Dividends Per Share	0.720	0.720	0.720	0.720	0.180	-
Dividend Growth	0%	0%	0%	300.00%	0%	-
Gross Margin	67.79%	69.19%	66.79%	64.76%	65.00%	64.41%
Operating Margin	3.46%	1.53%	1.17%	0.86%	4.27%	10.90%
Profit Margin	2.78%	1.57%	1.69%	1.78%	2.26%	6.19%
FCF Margin	-1.51%	-2.96%	-5.79%	-1.36%	-0.56%	11.51%
EBITDA	2,606	1,988	1,978	1,746	2,368	2,993
EBITDA Margin	8.67%	7.08%	7.20%	6.69%	9.94%	18.95%
EBIT	1,041	428	321	224	1,017	1,721
EBIT Margin	3.46%	1.53%	1.17%	0.86%	4.27%	10.90%
Effective Tax Rate	21.63%	21.67%	22.24%	26.54%	25.96%	26.26%

SEC Filings: 10-K · 10-Q