Southwest Airlines Co. (LUV)
NYSE: LUV · Real-Time Price · USD
44.45
+0.01 (0.02%)
At close: Nov 6, 2026, 4:00 PM EST
44.58
+0.13 (0.29%)
After-hours: Nov 6, 2026, 7:58 PM EST
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 | 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 Revenue | 29,060 | 25,706 | 25,155 | 23,812 | 21,585 | 14,253 |
Other Revenue | 2,486 | 2,357 | 2,328 | 2,279 | 2,229 | 1,537 |
| 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% |
Cost of Revenue | 24,561 | 21,878 | 21,623 | 20,534 | 17,906 | 13,457 |
Gross Profit | 6,985 | 6,185 | 5,860 | 5,557 | 5,908 | 2,333 |
Selling, General & Admin | 332 | 332 | 346 | 266 | 224 | 185 |
Other Operating Expenses | 3,650 | 3,815 | 3,572 | 3,547 | 3,323 | 2,005 |
Operating Expenses | 5,551 | 5,707 | 5,575 | 5,335 | 4,898 | 3,462 |
Operating Income | 1,434 | 478 | 285 | 222 | 1,010 | -1,129 |
Interest Expense | -181 | -113 | -214 | -236 | -301 | -431 |
Interest & Investment Income | 123 | 205 | 497 | 583 | 217 | 13 |
Other Non Operating Income (Expenses) | 28 | 43 | 44 | 64 | -5 | 60 |
EBT Excluding Unusual Items | 1,404 | 613 | 612 | 633 | 921 | -1,487 |
Merger & Restructuring Charges | -62 | -62 | -5 | - | - | 140 |
Other Unusual Items | 12 | 12 | -9 | - | -193 | 2,672 |
Pretax Income | 1,354 | 563 | 598 | 633 | 728 | 1,325 |
Income Tax Expense | 301 | 122 | 133 | 168 | 189 | 348 |
Net Income | 1,053 | 441 | 465 | 465 | 539 | 977 |
Net Income to Common | 1,053 | 441 | 465 | 465 | 539 | 977 |
Net Income Growth | 177.84% | -5.16% | 0% | -13.73% | -44.83% | - |
Shares Outstanding (Basic) | 498 | 540 | 598 | 595 | 593 | 592 |
Shares Outstanding (Diluted) | 518 | 558 | 643 | 640 | 642 | 609 |
Shares Change | -9.84% | -13.22% | 0.47% | -0.31% | 5.42% | 7.79% |
EPS (Basic) | 2.11 | 0.82 | 0.78 | 0.78 | 0.91 | 1.65 |
EPS (Diluted) | 2.04 | 0.79 | 0.75 | 0.76 | 0.87 | 1.61 |
EPS Growth | 207.11% | 5.02% | -0.26% | -13.46% | -45.73% | - |
Additional Metrics
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 |
Free Cash Flow | -450 | -831 | -1,592 | -356 | -156 | 1,811 |
Free Cash Flow Per Share | -0.87 | -1.49 | -2.48 | -0.56 | -0.24 | 2.97 |
Dividend Per Share | 0.720 | 0.720 | 0.720 | 0.720 | 0.180 | - |
Dividend Growth | 0% | 0% | 0% | 300.00% | 0% | - |
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% |
Profit Margin | 3.34% | 1.57% | 1.69% | 1.78% | 2.26% | 6.19% |
Free Cash Flow Margin | -1.43% | -2.96% | -5.79% | -1.36% | -0.66% | 11.47% |
EBITDA | 2,685 | 1,720 | 1,671 | 1,498 | 2,129 | -70 |
EBITDA Margin | 8.51% | 6.13% | 6.08% | 5.74% | 8.94% | -0.44% |
D&A For EBITDA | 1,251 | 1,242 | 1,386 | 1,276 | 1,119 | 1,059 |
EBIT | 1,434 | 478 | 285 | 222 | 1,010 | -1,129 |
EBIT Margin | 4.55% | 1.70% | 1.04% | 0.85% | 4.24% | -7.15% |
Effective Tax Rate | 22.23% | 21.67% | 22.24% | 26.54% | 25.96% | 26.26% |
Revenue as Reported | 31,546 | 28,063 | 27,483 | 26,091 | 23,814 | 15,790 |
Advertising Expenses | - | 332 | 346 | 266 | 224 | 185 |