Southwest Airlines
LUV
41.72
-0.73
-1.72%
Southwest Airlines
US · LUV
#914 by market cap
Listed 1977
41.72
-0.73
-1.72%
Live - 5344 symbols - heartbeat 259s ago
· 2026-10-08 07:00
Pre-market
41.18
-1.29%
After-hours
41.62
-0.24%
Overnight
41.35
-0.89%
- Market cap
- 20.41B
- P/E (TTM)i
- 26.08
- P/Bi
- 2.88
- EPSi
- 0.79
- Div yieldi
- 1.73%
- 52W posi
- 51%
Reader sentiment
Are you bullish or bearish on LUV?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Fair
- Altman Z-Score is 2.17, in the 1.8-3.0 "grey zone".
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +2.11% YoY
Margins
- Gross margin
- 17.44%
- Operating margin
- 1.53%
- Net margin
- 1.58%
Key ratios & quality
- Enterprise valuei
- 22.39B
- Altman Z-Scorei
- 2.17
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 21.97B | 22.43B | 9.05B | 15.79B | 23.81B | 26.09B | 27.48B | 28.06B |
| Gross profit | 6.06B | 5.98B | -1.89B | 4.12B | 4.75B | 4.22B | 4.46B | 4.90B |
| Selling & admin expenses | -- | -- | -- | -- | -- | -- | -- | -- |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 3.21B | 2.96B | -3.82B | 1.72B | 1.02B | 224.00M | 321.00M | 428.00M |
| Pretax profit | 3.16B | 2.96B | -4.26B | 1.33B | 728.00M | 633.00M | 598.00M | 563.00M |
| Tax | 699.00M | 657.00M | -1.18B | 348.00M | 189.00M | 168.00M | 133.00M | 122.00M |
| Net profit | 2.47B | 2.30B | -3.07B | 977.00M | 539.00M | 465.00M | 465.00M | 441.00M |
| Basic EPS | 4 | 4 | -5 | 2 | 1 | 1 | 1 | 1 |
| Diluted EPS | 4.29 | 4.27 | -5.44 | 1.61 | 0.87 | 0.76 | 0.76 | 0.79 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 6.43B | 7.24B | 6.95B | 7.44B | 7.25B | 8.43B |
| Gross profit | 867.00M | 1.36B | 1.16B | 1.51B | 1.37B | 1.39B |
| Selling & admin expenses | -- | -- | -- | -- | -- | -- |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | -223.00M | 225.00M | 35.00M | 391.00M | 330.00M | 285.00M |
| Pretax profit | -192.00M | 280.00M | 68.00M | 408.00M | 285.00M | 306.00M |
| Tax | -43.00M | 67.00M | 14.00M | 85.00M | 58.00M | 73.00M |
| Net profit | -149.00M | 213.00M | 54.00M | 323.00M | 227.00M | 233.00M |
| Basic EPS | 0 | 0 | 0 | 1 | 0 | 0 |
| Diluted EPS | -0.26 | 0.39 | 0.10 | 0.61 | 0.45 | 0.47 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 5.03B | 5.97B | 15.17B | 18.04B | 14.81B | 13.96B | 11.27B | 5.65B |
| Cash & ST investments | 3.69B | 4.07B | 13.33B | 15.50B | 12.29B | 11.47B | 8.73B | 3.23B |
| Inventory | 461.00M | 529.00M | 414.00M | 537.00M | 790.00M | 807.00M | 800.00M | 775.00M |
| Total assets | 26.24B | 25.90B | 34.59B | 36.32B | 35.37B | 36.49B | 33.75B | 29.06B |
| Total current liabilities | 7.91B | 8.95B | 7.51B | 9.16B | 10.38B | 12.26B | 12.28B | 10.92B |
| Short-term debt | 606.00M | 1.17B | 526.00M | 692.00M | 267.00M | 237.00M | 1.96B | 636.00M |
| Long-term debt | 2.77B | 1.30B | 9.65B | 9.90B | 7.90B | 7.98B | 5.07B | 4.58B |
| Total liabilities | 16,390,000,000.00 | 16,063,000,000.00 | 25,712,000,000.00 | 25,906,000,000.00 | 24,682,000,000.00 | 25,972,000,000.00 | 23,400,000,000.00 | 21,080,000,000.00 |
| Total equity | 9.85B | 9.83B | 8.88B | 10.41B | 10.69B | 10.52B | 10.35B | 7.98B |
| Retained earnings | 15.97B | 17.95B | 14.78B | 15.77B | 16.26B | 16.30B | 16.33B | 16.39B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 10.73B | 6.09B | 5.40B | 5.65B | 5.97B | 6.48B |
| Cash & ST investments | 8.25B | 3.84B | 3.02B | 3.23B | 3.33B | 3.79B |
| Inventory | 786.00M | 773.00M | 792.00M | 775.00M | 833.00M | 917.00M |
| Total assets | 33.21B | 28.71B | 28.31B | 29.06B | 29.36B | 30.12B |
| Total current liabilities | 13.90B | 10.89B | 10.99B | 10.92B | 12.48B | 13.27B |
| Short-term debt | 2.94B | 345.00M | 333.00M | 636.00M | 1.15B | 2.44B |
| Long-term debt | 4.09B | 4.08B | 4.08B | 4.58B | 4.54B | 3.79B |
| Total liabilities | 23,847,000,000.00 | 20,712,000,000.00 | 20,536,000,000.00 | 21,080,000,000.00 | 22,480,000,000.00 | 23,040,000,000.00 |
| Total equity | 9.37B | 8.00B | 7.78B | 7.98B | 6.88B | 7.08B |
| Retained earnings | 16.08B | 16.20B | 16.16B | 16.39B | 16.53B | 16.67B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 4.89B | 3.99B | -1.13B | 2.32B | 3.79B | 3.16B | 462.00M | 1.84B |
| Depreciation & amortization | 1.20B | 1.22B | 1.26B | 1.27B | 1.35B | 1.52B | 1.66B | 1.56B |
| Free cash flow | 2.92B | 2.96B | -1.64B | 1.81B | -156.00M | -356.00M | -1.59B | -831.00M |
| Dividends paid | -332.00M | -372.00M | -188.00M | 0 | 0 | -428.00M | -430.00M | -399.00M |
| Stock buybacks / issuance | -2.00B | -2.00B | 1.84B | -- | 0 | 0 | -250.00M | -2.55B |
| Ending cash balance | 1.85B | 2.55B | 11.06B | 12.48B | 9.49B | 9.29B | 7.51B | 3.23B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 860.00M | 401.00M | 287.00M | 295.00M | 1.42B | 530.00M |
| Depreciation & amortization | 396.00M | 400.00M | 394.00M | 371.00M | 398.00M | 402.00M |
| Free cash flow | 333.00M | -259.00M | -391.00M | -564.00M | 788.00M | -288.00M |
| Dividends paid | -107.00M | -103.00M | -189.00M | 0 | -93.00M | -88.00M |
| Stock buybacks / issuance | -750.00M | -1.50B | -250.00M | -50.00M | -1.25B | 0 |
| Ending cash balance | 8.13B | 3.48B | 2.90B | 3.23B | 3.33B | 3.79B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 24.31 | 23.37 | -32.86 | 10.13 | 5.32 | 4.57 | 4.65 | 4.82 |
| ROA %i | 9.60 | 8.82 | -10.16 | 2.76 | 1.57 | 1.35 | 1.38 | 1.41 |
| ROIC %i | 18.18 | 16.95 | -16.45 | 5.87 | 2.91 | 1.15 | 1.39 | 2.29 |
| 5-year avg ROE %i | 27.40 | 28.86 | 16.11 | 12.61 | 6.25 | 2.10 | -1.64 | 5.90 |
| EBIT margin %i | 14.83 | 13.55 | -43.57 | 11.12 | 4.32 | 3.33 | 2.95 | 2.41 |
| FCF / sales %i | 13.28 | 13.20 | -- | 11.47 | -- | -- | -- | -- |
| Current ratioi | 0.64 | 0.67 | 2.02 | 1.97 | 1.43 | 1.14 | 0.92 | 0.52 |
| Quick ratioi | 0.54 | 0.58 | 1.93 | 1.84 | 1.28 | 1.03 | 0.80 | 0.40 |
| Debt / assetsi | 12.87 | 15.43 | 35.27 | 33.81 | 26.66 | 25.21 | 23.88 | 20.58 |
| LT debt / equityi | 28.12 | 28.72 | 131.51 | 111.28 | 85.75 | 85.24 | 58.94 | 66.97 |
| Interest coveragei | 35.02 | 37.06 | -12.55 | 4.07 | 3.42 | 3.68 | 3.79 | 5.98 |
| Revenue CAGR (3Y) %i | 3.48 | 3.40 | -24.65 | -10.42 | 2.02 | 42.34 | 20.29 | 5.63 |
| Net income CAGR (3Y) %i | 4.16 | 1.76 | -- | -26.54 | -38.35 | -- | -21.92 | -6.47 |
| FCF CAGR (3Y) %i | 38.62 | 11.32 | -- | -14.69 | -- | -- | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 5.80 | 4.37 | 4.22 | 4.82 | 10.07 | 11.11 |
| ROA %i | 1.64 | 1.25 | 1.22 | 1.41 | 2.61 | 2.85 |
| ROIC %i | 2.03 | 1.50 | 1.65 | 2.29 | 5.22 | 6.26 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 3.24 | 2.43 | 2.23 | 2.41 | 4.02 | 4.03 |
| FCF / sales %i | -- | -- | -- | -- | -- | -- |
| Current ratioi | 0.77 | 0.56 | 0.49 | 0.52 | 0.48 | 0.49 |
| Quick ratioi | 0.67 | 0.45 | 0.38 | 0.40 | 0.37 | 0.38 |
| Debt / assetsi | 24.07 | 18.60 | 18.57 | 20.58 | 21.79 | 22.87 |
| LT debt / equityi | 53.99 | 62.45 | 63.34 | 66.97 | 76.29 | 62.84 |
| Interest coveragei | 4.69 | 4.12 | 4.75 | 5.98 | 9.67 | 8.36 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
Revenue breakdown most recent period
Business
Single segment100.00%
Quote time 2026-10-08 07:00:12 · For reference only, not investment advice and not tailored to your situation.