LUV
Southwest Airlines Co
$48.66
-0.77 (-1.56%)
At close · Jul 8
Market Cap
$24.00B
Shares
488,773,713
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$28.06B
+2.1%
FY2025
Net Income
$441M
-5.2%
FY2025
Operating Margin
1.53%
+0.4pp
FY2025
Diluted EPS
$0.79
+3.9%
FY2025
Operating Cash Flow
$1.84B
+298.7%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $28.88B | $28.06B | $27.48B | $26.09B | $23.81B | $15.79B | $9.05B | $22.43B | $21.97B | $21.17B | $20.43B | $19.82B | $18.61B | $17.7B | $17.09B | $15.66B | $12.1B | $10.35B | $11.02B | $9.86B | |
| — | — | — | — | — | — | — | $15M | $16M | $13M | $17M | $19M | $13M | $19M | $25M | $50M | — | — | — | — | |
| $1.56B | $1.56B | $1.66B | $1.52B | $1.35B | $1.27B | $1.26B | $1.22B | $1.2B | $1.22B | $1.22B | $1.02B | $938M | $867M | $844M | $715M | $628M | $616M | $599M | -$555M | |
| — | — | — | — | — | — | — | $19.47B | $18.76B | $17.74B | $16.77B | $15.7B | $16.38B | $16.42B | $16.47B | $14.97B | $11.12B | $10.09B | $10.57B | $9.07B | |
| $981M | $428M | $321M | $224M | $1.02B | $1.72B | -$3.82B | $2.96B | $3.21B | $3.41B | $3.52B | $4.12B | $2.23B | $1.28B | $623M | $693M | $988M | $262M | $449M | $791M | |
| — | 1.53% | 1.17% | 0.86% | 4.27% | 10.9% | -42.18% | 13.18% | 14.6% | 16.09% | 17.24% | 20.77% | 11.96% | 7.22% | 3.65% | 4.43% | 8.16% | 2.53% | 4.07% | 8.02% | |
| $2.54B | $1.99B | $1.98B | $1.75B | $2.37B | $2.99B | -$2.56B | $4.18B | $4.41B | $4.63B | $4.74B | $5.13B | $3.16B | $2.15B | $1.47B | $1.41B | $1.62B | $878M | $1.05B | $236M | |
| $175M | $167M | $249M | $259M | $340M | — | — | $118M | $131M | $114M | $122M | $121M | $130M | — | — | — | — | — | — | — | |
| $144M | $205M | $497M | $583M | $217M | $13M | $32M | $90M | $69M | $35M | $24M | $9M | $7M | $6M | $7M | $10M | $12M | $13M | -$26M | $44M | |
| $59M | $135M | $277M | $409M | -$289M | -$396M | -$440M | $0 | -$42M | -$142M | -$72M | -$637M | -$409M | -$69M | $62M | -$370M | -$243M | -$98M | $92M | $292M | |
| $1.04B | $563M | $598M | $633M | $728M | $1.33B | -$4.26B | $2.96B | $3.16B | $3.27B | $3.45B | $3.48B | $1.82B | $1.21B | $685M | $323M | $745M | $164M | $278M | $1.06B | |
| $223M | $122M | $133M | $168M | $189M | $348M | -$1.18B | $657M | $699M | -$92M | $1.27B | $1.3B | $680M | $455M | $264M | $145M | $286M | $65M | $100M | $413M | |
| $817M | $441M | $465M | $465M | $539M | $977M | -$3.07B | $2.3B | $2.47B | $3.36B | $2.18B | $2.18B | $1.14B | $754M | $421M | $178M | $459M | $99M | $178M | $645M | |
| — | 1.57% | 1.69% | 1.78% | 2.26% | 6.19% | -33.97% | 10.26% | 11.22% | 15.86% | 10.69% | 11% | 6.11% | 4.26% | 2.46% | 1.14% | 3.79% | 0.96% | 1.61% | 6.54% | |
| $818M | $442M | $485M | $484M | $561M | $977M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| $840M | $442M | $440M | $121M | $495M | $1.49B | -$3.12B | $2.22B | $2.49B | $3.69B | $2.91B | $1.87B | $401M | $870M | $526M | $216M | $775M | $505M | -$2.05B | $1.3B | |
| USD/shares | — | $0.82 | $0.78 | $0.78 | $0.91 | $1.65 | -$5.44 | $4.28 | $4.30 | $5.58 | $3.48 | $3.30 | $1.65 | $1.06 | $0.56 | $0.23 | $0.62 | $0.13 | $0.24 | $0.85 |
| USD/shares | — | $0.79 | $0.76 | $0.76 | $0.87 | $1.61 | -$5.44 | $4.27 | $4.29 | $5.57 | $3.45 | $3.27 | $1.64 | $1.05 | $0.56 | $0.23 | $0.61 | $0.13 | $0.24 | $0.84 |
| shares | — | 540M | 598M | 595M | 593M | 592M | 565M | 538M | 573M | 601M | 627M | 661M | 687M | 710M | 750M | 774M | 746M | 741M | 735 | 757 |
| shares | — | 558M | 643M | 640M | 642M | 609M | 565M | 539M | 574M | 603M | 633M | 669M | 696M | 718M | 757M | 775M | 747M | 741M | 739 | 768 |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2007–FY2025: $14.96B in buybacks, $3.12B in dividends.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
—
EV/EBIT
—
P/E (TTM)
32.73×
Airlines median 17.44×
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Geography (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| North America | $27,300,000,000 | $26,700,000,000 | $25,000,000,000 | $23,000,000,000 | $15,300,000,000 | $8,900,000,000 | $21,800,000,000 | $21,400,000,000 |
| Latin America | $756,000,000 | $798,000,000 | $828,000,000 | $811,000,000 | $475,000,000 | $184,000,000 | $615,000,000 | $566,000,000 |
By Product & Service (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Passenger Revenue Non-Loyalty | $20,441,000,000 | $20,467,000,000 | $19,073,000,000 | $17,645,000,000 | $11,377,000,000 | $6,303,000,000 | $17,578,000,000 | $17,506,000,000 |
| Passenger Loyalty Air Transportation | $3,259,000,000 | $3,484,000,000 | $3,639,000,000 | $3,028,000,000 | $2,136,000,000 | $1,003,000,000 | $2,487,000,000 | $2,307,000,000 |
| Product And Service Other | $2,357,000,000 | $2,328,000,000 | $2,279,000,000 | $2,229,000,000 | $1,537,000,000 | $1,222,000,000 | $1,480,000,000 | $1,335,000,000 |
| Passenger Ancillary Sold Separately | $1,835,000,000 | $1,029,000,000 | $925,000,000 | $735,000,000 | $553,000,000 | $359,000,000 | $711,000,000 | $642,000,000 |
| Cargo And Freight | $171,000,000 | $175,000,000 | $175,000,000 | $177,000,000 | $187,000,000 | $161,000,000 | $172,000,000 | $175,000,000 |
| Other Revenue | — | $2,200,000,000 | $2,100,000,000 | $2,100,000,000 | $1,400,000,000 | $1,100,000,000 | — | — |
| Passenger | — | $24,980,000,000 | $23,637,000,000 | $21,408,000,000 | $14,066,000,000 | $7,665,000,000 | $20,776,000,000 | $20,455,000,000 |