SOUTHWEST AIRLINES CO LUV
Last close
39.62
2026-09-04
Market cap
$19.38B
2026-06-30 share count
52-week range
29.26 - 55.11
Valuation FY2025 figures against the last close
P/S0.7x
P/E50.2x
P/FCF—
EV/EBITDA49.3x
Dividend yield2.1%
Diluted EPS0.79
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.06B | $27.48B | $26.09B | $23.81B | $15.79B | $9.05B | $22.43B | $21.96B | $21.15B | $20.29B |
| Total operating expenses | — | — | — | — | — | — | $19.47B | $18.76B | $17.74B | $16.77B |
| Operating income | $428.0M | $321.0M | $224.0M | $1.02B | $1.72B | -$3.82B | $2.96B | $3.21B | $3.41B | $3.52B |
| Interest expense | $167.0M | $249.0M | $259.0M | $340.0M | — | — | $118.0M | $131.0M | $114.0M | $122.0M |
| Pre-tax income | $563.0M | $598.0M | $633.0M | $728.0M | $1.32B | -$4.26B | $2.96B | $3.16B | $3.27B | $3.45B |
| Income tax | $122.0M | $133.0M | $168.0M | $189.0M | $348.0M | $1.18B | $657.0M | $699.0M | $92.0M | $1.27B |
| Net income | $441.0M | $465.0M | $465.0M | $539.0M | $977.0M | -$3.07B | $2.30B | $2.46B | $3.36B | $2.18B |
| EPS, basic | 0.82 | 0.78 | 0.78 | 0.91 | 1.65 | -5.44 | 4.28 | 4.30 | 5.58 | 3.48 |
| EPS, diluted | 0.79 | 0.76 | 0.76 | 0.87 | 1.61 | -5.44 | 4.27 | 4.29 | 5.57 | 3.45 |
| Shares, diluted (wtd. avg.) | $558.0M | $643.0M | $640.0M | $642.0M | $609.0M | $565.0M | $539.0M | $574.0M | $603.0M | $633.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.23B | $7.51B | $9.29B | $9.49B | $12.48B | $11.06B | $2.55B | $1.85B | $1.50B | $1.68B |
| Short-term investments | $0 | $1.22B | $2.19B | $2.80B | $3.02B | $2.27B | $1.52B | $1.83B | $1.78B | $1.62B |
| Receivables | $98.0M | $47.0M | — | — | — | — | — | — | — | — |
| Total current assets | $5.64B | $11.27B | $13.96B | $14.81B | $18.04B | $15.17B | $5.97B | $5.03B | $4.82B | $4.50B |
| Property, plant and equipment | $20.25B | $19.06B | — | — | — | $15.83B | $17.02B | $19.52B | $18.54B | $17.04B |
| Goodwill | $970.0M | $970.0M | $970.0M | $970.0M | $970.0M | $970.0M | $970.0M | $970.0M | $970.0M | $970.0M |
| Other intangibles | $296.0M | $300.0M | $296.0M | $296.0M | $295.0M | $295.0M | $296.0M | $400.0M | $413.0M | $426.0M |
| Total assets | $29.06B | $33.75B | $36.49B | $35.37B | $36.32B | $34.59B | $25.89B | $26.24B | $25.11B | $23.29B |
| Accounts payable | $1.99B | $1.82B | $1.86B | $2.00B | $1.28B | $931.0M | $1.57B | $1.42B | $1.32B | $1.18B |
| Total current liabilities | $10.92B | $12.28B | $12.26B | $10.38B | $9.16B | $7.51B | $8.95B | $7.91B | $6.86B | $6.84B |
| Long-term debt | $4.93B | $6.70B | $8.01B | $8.10B | — | — | — | — | — | — |
| Retained earnings | $16.39B | $16.33B | $16.30B | $16.26B | $15.77B | $14.78B | $17.95B | $15.97B | $13.83B | $11.42B |
| Total equity | $7.98B | $10.35B | $10.52B | $10.69B | $10.41B | $8.88B | $9.83B | $9.85B | $9.64B | $7.78B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.84B | $462.0M | $3.16B | $3.79B | $2.32B | -$1.13B | $3.99B | $4.89B | $3.93B | $4.29B |
| Capital expenditure | $2.67B | $2.05B | $3.52B | $3.92B | $505.0M | $515.0M | $1.03B | $1.92B | $2.12B | $2.04B |
| Investing cash flow | -$1.43B | -$261.0M | -$2.93B | -$3.75B | -$1.26B | -$16.0M | -$303.0M | -$2.04B | -$2.41B | -$2.27B |
| Financing cash flow | -$4.69B | -$1.98B | -$436.0M | -$3.03B | $359.0M | $9.66B | -$2.99B | -$2.50B | -$1.71B | -$1.92B |
| Dividends paid | $399.0M | $430.0M | $428.0M | $0 | $0 | $188.0M | $372.0M | $332.0M | $274.0M | $222.0M |
| Buybacks | $2.55B | $250.0M | $0 | $0 | $0 | $451.0M | $2.00B | $2.00B | $1.60B | $1.75B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000092380-26-000006.
Others in SIC 4512
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| DAL | DELTA AIR LINES, INC. | $52.72B | 10.5x | 2.8% |
| UAL | United Airlines Holdings, Inc. | $36.15B | 10.9x | 3.5% |
| AAL | American Airlines Group Inc. | $8.69B | 77.2x | 0.8% |
| ALK | ALASKA AIR GROUP, INC. | $4.69B | 50.7x | 21.3% |
| SKYW | SKYWEST INC | $3.85B | 9.6x | 15.0% |
| ALGT | Allegiant Travel CO | $2.14B | — | 4.8% |
| JBLU | JETBLUE AIRWAYS CORP | $1.75B | — | -2.3% |
| ULCC | Frontier Group Holdings, Inc. | $1.37B | — | -1.4% |