Southwest Airlines Co. (LUV) Financial Statements
Historical financial data — 42 statements covering FY2016–FY2025
Southwest Airlines is the largest domestic air carrier in the United States by passengers boarded. Southwest operates nearly 800 aircraft in an all-Boeing 737 fleet. Despite offering some longer ro...
Southwest Airlines Co.'s revenue increased 2.1% year over year, from $27.48B to $28.06B.
Net income decreased 5.2% over the same period, from $465.0M to $441.0M.
Over the 9-year period from FY2016 to FY2025, revenue grew by 37% in total.
Total debt decreased by 26.8% to $4.90B.
The debt-to-equity ratio stands at 0.61, indicating a moderate leverage profile.
Operating cash flow grew 298.7% to $1.84B.
Southwest Airlines Co. maintains a moderate net profit margin of 1.6%.
Recent Financial Statements
Quarterly figures are standalone quarters, de-cumulated from YTD filings (Q4 = FY − Q3 YTD when not reported).
| Period | Revenue | Net Income | EBIT | Op. Cash Flow | Total Assets | Total Debt | Equity |
|---|---|---|---|---|---|---|---|
| Q3 FY2024 | $6.87B-6.6% | $68.0M | $38.0M | $113.0M | $34.85B | $8.01B | $10.41B |
| Q4 FY2024 | $6.93B+0.9% | $261.0M | $278.0M | $476.0M | $33.75B | $6.70B | $10.35B |
| Q1 FY2025 | $6.43B-7.2% | $-149.0M | $-223.0M | $860.0M | $33.21B | $6.69B | $9.37B |
| Q2 FY2025 | $7.24B+12.7% | $213.0M | $225.0M | $401.0M | $28.71B | $4.10B | $8.00B |
| Q3 FY2025 | $6.95B-4.1% | $54.0M | $35.0M | $286.0M | $28.31B | $4.10B | $7.78B |
| Q4 FY2025 | $7.44B+7.1% | $323.0M | $391.0M | $295.0M | $29.06B | $4.90B | $7.98B |
| Q1 FY2026 | $7.25B-2.6% | $227.0M | $330.0M | $1.42B | N/A | N/A | N/A |
| Q2 FY2026 | $8.43B+16.3% | $233.0M | $285.0M | $529.0M | N/A | N/A | N/A |
Balance Sheet Summary (FY2025)
Southwest Airlines Co. (LUV) Financial Statements & Revenue History
Southwest Airlines Co. (LUV) is a US-listed stock operating in the Consumer Cyclical sector, specifically the Air Transportation, Scheduled industry trading at $39.50 with a market capitalization of $19. This page provides 42 historical financial statements for Southwest Airlines Co., including income statement, balance sheet, and cash flow data across multiple reporting periods. Most recently, Southwest Airlines Co. reported revenue of $28.1 billion, representing 2.1% year-over-year growth. The net profit margin of 1.6% suggests thin margins. The debt-to-equity ratio of 0.61 reflects moderate leverage.
LUV Income Statement, Balance Sheet & Cash Flow
The financial statements table above shows Southwest Airlines Co.'s revenue, net income, gross profit, EBIT, operating cash flow, total assets, total debt, and shareholders' equity across the most recent reporting periods. Year-over-year growth rates help identify whether LUV is accelerating or decelerating in terms of top-line revenue and bottom-line profitability.
- Revenue trend: Track LUV's top-line growth across quarters and fiscal years to identify acceleration or deceleration in the business.
- Profitability: Net income and gross profit margins reveal how efficiently Southwest Airlines Co. converts revenue into earnings.
- Balance sheet health: Total assets, liabilities, debt, and equity provide a snapshot of LUV's financial position and leverage.
- Cash flow: Operating cash flow shows how much cash the business generates from its core operations, which is critical for funding dividends, buybacks, and growth.
How to Use LUV Financial Data
Investors use Southwest Airlines Co.'s financial statements to assess the company's financial health, growth trajectory, and valuation. Key metrics to focus on include:
- Revenue growth rate: Consistent double-digit revenue growth suggests a strong business; declining revenue may signal competitive pressure.
- Net profit margin: Higher margins indicate a more efficient business with pricing power. Compare LUV's margins to sector peers for context.
- Debt levels: High debt-to-equity ratios increase financial risk, especially in rising-rate environments. Low debt provides flexibility.
- Valuation multiples: See how LUV's P/E, P/S, and EV/EBITDA ratios compare to historical levels.
- Full analysis: View LUV's financial health score, earnings, and pre-market pricing.
Financial data is sourced from Southwest Airlines Co.'s SEC filings (10-K, 10-Q) via Polygon.io and Finnhub.LUV trades on NYSE/NASDAQ. This page is for informational purposes only and is not financial advice.