Friday 6 November 2026 Export LUV’s income statement to Excel — free account

Southwest Airlines Co.

Southwest Airlines Co.’s revenue for fiscal 2025 (year ended December 2025) was $28.1 billion, up 2.11% from fiscal 2024.

Revenue: +21.2%
EPS: +450.0%
Free cash flow: +46.9%
Total debt: +43.5%

Quarter to September 2026, against a year earlier

45.24 0.80 +1.80%

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Market cap: $21.8B
P/E: 21.1×
Fwd P/E: 17.1×
Dividend yield: 1.62%
F-score: 7/9
Altman Z: 2.22
Beneish M: −2.66
Dividend safety: 24/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

	Older periods	Dec '25	Mar '26	Jun '26	Sep '26
P/E ratio Full definition →	+8 more quarters Free account	47.51	23.78	30.98	19.73
P/S ratio Full definition →		0.80	0.65	0.84	0.65
P/FCF ratio Full definition →		0.00	0.00	0.00	115.04
P/Operating CF Full definition →		75.65	13.19	47.53	39.69
P/B ratio Full definition →		2.80	2.72	3.55	2.78
Price to Tangible BV Full definition →		3.18	3.17	4.11	3.20
EV/Sales Full definition →		0.85	0.72	0.91	0.72
EV/EBITDA Full definition →		12.07	8.17	10.48	7.66
EV/Operating CF Full definition →		13.02	8.65	10.80	8.21
EV/FCF Full definition →		(28.87)	(98.90)	(3,899.91)	127.82
Quick Ratio Full definition →		0.40	0.37	0.38	0.36
Current Ratio Full definition →		0.52	0.48	0.49	0.47
Net Debt/EBITDA Full definition →		2.19	2.83	3.14	2.92
Debt/Assets Full definition →		16.86%	18.35%	19.74%	19.28%
Debt/Equity Full definition →		0.61	0.78	0.84	0.80
Asset Turnover Full definition →		0.89	0.92	1.02	1.07
Operating CF/Net income Full definition →		0.91	6.25	2.27	1.90
Capex/Depreciation Full definition →		(2.32)	(1.10)	(1.39)	(1.81)
Interest Coverage Full definition →		8.32	6.11	4.45	5.40
Research and Development Expense of Revenue Full definition →		0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →		0.00%	0.00%	0.00%	0.00%
Intangible Assets out of Total Assets Full definition →		0.03	0.03	0.03	0.03
Share Based Compensation of Revenue Full definition →		0.00%	0.00%	0.00%	0.00%
Graham Net Nets Full definition →		(0.69)	(0.88)	(0.66)	(0.82)
Graham Number Full definition →		17.01	22.15	23.26	26.67
Earnings Yield Full definition →		2.11%	4.21%	3.23%	5.07%
Free Cash Flow Yield Full definition →		(3.72%)	(1.12%)	(0.03%)	0.87%
Revenue per Share Full definition →		13.78	14.56	17.24	17.22
Operating CF per Share Full definition →		0.55	2.85	1.08	1.05
Capex per Share Full definition →		(1.59)	(0.88)	(1.15)	(1.47)
Free Cash Flow per Share Full definition →		(1.04)	1.97	(0.06)	(0.43)
Cash per Share Full definition →		5.98	6.68	7.75	7.41
Shareholders Equity per Share Full definition →		14.78	13.81	14.48	14.99
Interest Debt per Share Full definition →		0.00	0.00	0.00	0.00
Book value per Share Full definition →		14.78	13.81	14.48	14.99
Free Cash Flow Full definition →		(564.00)	980.00	(31.00)	(208.00)
Working Capital Full definition →		(5,276.00)	(6,515.00)	(6,786.00)	(7,232.00)
Capital Expenditures Full definition →		(859.00)	(438.00)	(560.00)	(721.00)
Net Current Asset Value Full definition →		(15,435.00)	(16,511.00)	(16,558.00)	(16,704.00)
EV/EBIT Full definition →		56.05	21.17	26.22	16.35
Capex to Sales Full definition →		0.12	0.06	0.07	0.09
Price to Operating Income Full definition →		52.15	19.07	24.15	14.71
Other line items
Average Receivables Full definition →		1,129.50	1,166.00	1,115.50	1,215.50
Average Payables Full definition →		1,904.50	2,019.50	1,941.50	1,777.50
Average Inventory Full definition →		787.50	809.50	845.00	894.50
Average Assets Full definition →		31,405.50	31,283.50	29,417.00	29,425.50
Average Common Equity Full definition →		9,165.50	8,120.00	7,541.00	7,552.00

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Columns are period end dates · fundamentals updated 2 Nov 2026

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