stockrowSouthwest Airlines Co.
LUV Industrials Airlines
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
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Southwest Airlines Co. (LUV) Gross margin
Southwest Airlines Co.'s gross margin over the twelve months to 30 September 2026 was 22.9%, down 0.1 percentage points from fiscal 2025 (23.0%). Over the past ten years it has ranged from −7.02% (fiscal 2020) to 37.4% (fiscal 2015); the current reading is higher than 36% of that period. That is below the Airlines industry median of 51.7% and below the Industrials sector median of 30.6%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 23.0% | 0.75 |
| FY2024 | 22.3% | 0.23 |
| FY2023 | 22.0% | (3.61) |
| FY2022 | 25.6% | (8.49) |
| FY2021 | 34.1% | 41.14 |
| FY2020 | −7.02% | (39.13) |
| FY2019 | 32.1% | (0.94) |
| FY2018 | 33.1% | (2.29) |
| FY2017 | 35.3% | (1.36) |
| FY2016 | 36.7% | (0.70) |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Sep 2026 | 21.4% | 0.20 |
| Jun 2026 | 21.2% | (3.15) |
| Mar 2026 | 24.4% | (0.94) |
| Dec 2025 | 25.3% | 2.96 |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| ALK Alaska Air Group, Inc. compare | 100.0% |
| SKYW SkyWest, Inc. compare | 69.8% |
| UAL United Airlines Holdings Inc compare | 66.1% |
| CPA Copa Holdings, S.A. compare | 62.4% |
| RYAAY Ryanair Holdings PLC compare | 51.5% |
| DAL Delta Air Lines, Inc. compare | 31.2% |
| LTM LATAM Airlines Group S.A. compare | 25.0% |
| LUV Southwest Airlines Co. | 22.9% |
| AAL American Airlines Group Inc. compare | 20.7% |
| Airlines industry median | 51.7% |
| Industrials sector median | 30.6% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
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