SOUTHWEST AIRLINES CO. (LUV)

39.64 -0.30% (-0.12)

Over 6M: -17.2%

2026-08-28
Style
Area Line Line with markers Steps Candles Hollow candles Bars

Candles need the day’s open, high and low. Those are being collected now — a company shows them once its history has been refreshed.

35 40 45 50
Mar Apr May Jun Jul Aug

Financials Quarterly

Figures
Revenue Gross Profit Operating Income Cost of Revenue Operating Cash Flow Free Cash Flow Net Income

A share count and earnings a share are not here: neither is money, so neither can share this axis. Both have their own panel on All charts.

All charts ›
Q3 '21 — Revenue: 4.7B Q3 '21 — Operating Income: 733M Q3 '21 — Free Cash Flow: -710M Q3 '21 — Net Income: 446M Q4 '21 — Revenue: 5.1B Q4 '21 — Operating Income: 195M Q4 '21 — Free Cash Flow: 67M Q4 '21 — Net Income: 68M Q1 '22 — Revenue: 4.7B Q1 '22 — Operating Income: -151M Q1 '22 — Free Cash Flow: 561M Q1 '22 — Net Income: -278M Q2 '22 — Revenue: 6.7B Q2 '22 — Operating Income: 1.2B Q2 '22 — Free Cash Flow: 919M Q2 '22 — Net Income: 760M Q3 '22 — Revenue: 6.2B Q3 '22 — Operating Income: 395M Q3 '22 — Free Cash Flow: -838M Q3 '22 — Net Income: 277M Q4 '22 — Revenue: 6.2B Q4 '22 — Operating Income: -385M Q4 '22 — Free Cash Flow: -777M Q4 '22 — Net Income: -220M Q1 '23 — Revenue: 5.7B Q1 '23 — Operating Income: -284M Q1 '23 — Free Cash Flow: -340M Q1 '23 — Net Income: -159M Q2 '23 — Revenue: 7B Q2 '23 — Operating Income: 795M Q2 '23 — Free Cash Flow: 491M Q2 '23 — Net Income: 683M Q3 '23 — Revenue: 6.5B Q3 '23 — Operating Income: 117M Q3 '23 — Free Cash Flow: -226M Q3 '23 — Net Income: 193M Q4 '23 — Revenue: 6.8B Q4 '23 — Operating Income: -404M Q4 '23 — Free Cash Flow: -283M Q4 '23 — Net Income: -252M Q1 '24 — Revenue: 6.3B Q1 '24 — Operating Income: -393M Q1 '24 — Free Cash Flow: -687M Q1 '24 — Net Income: -231M Q2 '24 — Revenue: 7.4B Q2 '24 — Operating Income: 398M Q2 '24 — Free Cash Flow: -517M Q2 '24 — Net Income: 367M Q3 '24 — Revenue: 6.9B Q3 '24 — Operating Income: 38M Q3 '24 — Free Cash Flow: -404M Q3 '24 — Net Income: 67M Q4 '24 — Revenue: 6.9B Q4 '24 — Operating Income: 278M Q4 '24 — Free Cash Flow: 16M Q4 '24 — Net Income: 261M Q1 '25 — Revenue: 6.4B Q1 '25 — Operating Income: -223M Q1 '25 — Free Cash Flow: 333M Q1 '25 — Net Income: -149M Q2 '25 — Revenue: 7.2B Q2 '25 — Operating Income: 225M Q2 '25 — Free Cash Flow: -259M Q2 '25 — Net Income: 213M Q3 '25 — Revenue: 6.9B Q3 '25 — Operating Income: 35M Q3 '25 — Free Cash Flow: -391M Q3 '25 — Net Income: 54M Q4 '25 — Revenue: 7.4B Q4 '25 — Operating Income: 391M Q4 '25 — Free Cash Flow: -564M Q4 '25 — Net Income: 323M Q1 '26 — Revenue: 7.2B Q1 '26 — Operating Income: 330M Q1 '26 — Free Cash Flow: 788M Q1 '26 — Net Income: 227M Q2 '26 — Revenue: 8.4B Q2 '26 — Operating Income: 285M Q2 '26 — Free Cash Flow: -288M Q2 '26 — Net Income: 233M 0 2B 4B 6B 8B 10B
Q4 '21 Q3 '22 Q2 '23 Q1 '24 Q4 '24 Q3 '25 Q2 '26
Revenue Operating Income Free Cash Flow Net Income

Figures as at 2026-06-30, reported in USD. The newest fact in the filings is dated 2026-06-30, 61 days ago. Nothing on this page is advice.

How it scores

Five questions, each answered by the measures under it. Every figure is the company's own; the bar beside it is where that figure sits among the companies read here — the top fifth, the bottom fifth, or somewhere between. Not among all listed companies, and for a valuation multiple the low end is the good end.

Quality

How much of the revenue is really kept — and what did it take to earn it?

3.3
SBC / sales 0.33%
ROIC 9.9%
OE margin -1.8%
Accruals -5.6%
OCF / EBIT 2.4×
ROA 2.8%
ROE 11.8%
OCF margin 8.4%
ROCE 6.2%
FCF margin -1.5%
Gross margin —

5 of 17 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Valuation

What does the price ask for what the company earns, owns and pays out?

0.5
Div. yield —
EV/EBIT —
EV/GP —
EV/OE —
EV/Sales —
FCF yield —
Fwd P/E —
P/B —
P/C —
P/E —
PEG —

0 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Durability

How predictable is the revenue, and how much of it is already committed?

5.1
RPO / sales 0.22×
RPO growth —
Segment HHI —

3 of 7 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Resilience

Can the balance sheet absorb a bad year?

3.9
ND/EBITDA —
Current ratio 0.96×
Net debt / Eq 0.17×
Cash / Debt 0.76×
F-score 6.8 pts
Payout 44.2%
Debt / Eq 0.71×
Quick ratio 0.49×
Cash runway —
Debt payback —

3 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Growth

Is the business getting bigger, and is it getting more profitable?

4.7
Sales/sh Y/Y +26.2%
Sales CAGR 4Y +15.5%
EBIT Y/Y +227.4%
EPS Y/Y +146.1%
Shares change -13.2%
Sales Q/Q +16.4%
EBIT CAGR +0.67%
Div. growth -7.2%
EPS CAGR 4Y -16.3%
EPS next Y —

4 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

A measure absent from a block could not be computed from this company's filings. It is left out rather than scored as though it were bad, and the dimension is averaged over what remains. A score is measured against a fixed scale this model states; the bar is measured against the other companies, so the two can disagree — and where they do, that disagreement is the more interesting figure.