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

44.39 0.05 −0.11%

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Market cap: $21.8B
P/E: 21.0×
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

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

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Columns are period end dates · fundamentals updated 2 Nov 2026

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