Southwest 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. In the quarter to June 2026, revenue grew 16.4%, EPS grew 20.0%, free cash flow grew 86.8% and total debt rose 44.9%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for three consecutive years, revenue growth for five.
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Southwest Airlines Co. (LUV) Operating margin
Southwest Airlines Co.'s operating margin over the twelve months to 30 June 2026 was 3.46%, up 1.9 percentage points from fiscal 2025 (1.53%). Over the past ten years it has ranged from −42.2% (fiscal 2020) to 20.8% (fiscal 2015); the current reading is higher than 36% of that period. That is below the Airlines industry median of 4.18% and below the Industrials sector median of 5.13%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 1.53% | 0.36 |
| FY2024 | 1.17% | 0.31 |
| FY2023 | 0.86% | (3.41) |
| FY2022 | 4.27% | (6.63) |
| FY2021 | 10.9% | 53.08 |
| FY2020 | −42.2% | (55.36) |
| FY2019 | 13.2% | (1.42) |
| FY2018 | 14.6% | (1.51) |
| FY2017 | 16.1% | (1.25) |
| FY2016 | 17.4% | (3.41) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 3.38% | (1.17) |
| Mar 2026 | 4.55% | (0.70) |
| Dec 2025 | 5.25% | 4.75 |
| Sep 2025 | 0.50% | (2.61) |
| 42 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| CPA Copa Holdings, S.A. compare | 19.4% |
| LTM LATAM Airlines Group S.A. compare | 15.0% |
| RYAAY Ryanair Holdings PLC compare | 13.1% |
| UAL United Airlines Holdings Inc compare | 7.74% |
| DAL Delta Air Lines, Inc. compare | 7.36% |
| LUV Southwest Airlines Co. | 3.46% |
| AAL American Airlines Group Inc. compare | 1.73% |
| ALK Alaska Air Group, Inc. compare | −1.52% |
| ZNH China Southern Airlines Company Limited compare | −7.90% |
| Airlines industry median | 4.18% |
| Industrials sector median | 5.13% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
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