Revenue
8.42 billion USD
2026 Q3 · USD
Exact inputs and evidence
- Revenue: 8422000000 USD Source
Fundies. English
SOUTHWEST AIRLINES CO.
EDGARAnnual consolidated revenue for 2025: about USD 28.06B, using the latest reported figures. The previous period, 2024, was about USD 27.48B.
Latest quarter
- Cash and cash equivalents
- 3.62 billion USD Source
Exact value
3624000000 USD
- Long-term debt including current maturities
- 4.93 billion USD Source
Exact value
4929000000 USD
- Shares outstanding
- Not available
Trailing twelve months
The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.
Revenue
31.5 billion USD
2025-10-01 – 2026-09-30
Exact inputs and evidence
Net income
1.05 billion USD
2025-10-01 – 2026-09-30
Exact inputs and evidence
Operating cash flow
2.76 billion USD
2025-10-01 – 2026-09-30
Exact inputs and evidence
- Operating cash flow: 1842000000 USD · 2025-01-01 – 2025-12-31 Source
- Operating cash flow: 1547000000 USD · 2025-01-01 – 2025-09-30 Source
- Operating cash flow: 1418000000 USD · 2026-01-01 – 2026-03-31 Source
- Operating cash flow: 530000000 USD · 2026-04-01 – 2026-06-30 Source
- Operating cash flow: 513000000 USD · 2026-07-01 – 2026-09-30 Source
Includes later revisions to earlier periods. Annual charts exclude incomplete years.
Latest filing recorded: 2026-10-22.
Financial data available through: 2025-12-31.
Coverage by financial measure
- Revenue: 11 of 11 periods available· newest 2025-12-31
- Operating income: 11 of 11 periods available· newest 2025-12-31
- Net income: 11 of 11 periods available· newest 2025-12-31
- Operating cash flow: 11 of 11 periods available· newest 2025-12-31
- capital expenditure: No compatible figures in this window
- Total assets: 11 of 11 periods available· newest 2025-12-31
- liabilities: No compatible figures in this window
- Current assets: 11 of 11 periods available· newest 2025-12-31
- Current liabilities: 11 of 11 periods available· newest 2025-12-31
- Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
- Long-term debt including current maturities: 4 of 11 periods available· newest 2025-12-31
- shares outstanding: No compatible figures in this window
Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.
What changed year over year
Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.
Revenue
+2.1%Prior period
USD 27.48 billion
–
Current period
USD 28.06 billion
–
Exact inputs and evidence
28063000000 − 27483000000 = 580000000 USD
27483000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source28063000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Net income
-5.2%Prior period
USD 465 million
–
Current period
USD 441 million
–
Exact inputs and evidence
441000000 − 465000000 = -24000000 USD
465000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source441000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
+298.7%Prior period
USD 462 million
–
Current period
USD 1.84 billion
–
Exact inputs and evidence
1842000000 − 462000000 = 1380000000 USD
462000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source1842000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Comparable inputs unavailable for: Capital expenditure.
Where revenue goes
How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.
2025 2025-01-01 – 2025-12-31
- Revenue USD 28.06 billion 100% of revenue
- Operating costs Derived USD 27.64 billion 98% of revenue
- Operating income USD 428 million 1.5% of revenue
- Tax, interest and other Derived −USD 13 million −0% of revenue
- Net income USD 441 million 1.6% of revenue
Cash
- Operating cash flow USD 1.84 billion 6.6% of revenue
- Capital expenditure Unavailable An input is unavailable.
- Free cash flow Derived Unavailable An input is unavailable.
Share of revenue by period
- Net income
- Tax, interest and other
- Operating costs
- 2016 11%83%
- 2017 16%84%
- 2018 11%85%
- 2019 10%87%
- 2020 Operating loss: operating costs were 142% of revenue.
- 2021 89%
- 2022 96%
- 2023 Net income was higher than operating income, so the split is not drawn.
- 2024 Net income was higher than operating income, so the split is not drawn.
- 2025 Net income was higher than operating income, so the split is not drawn.
Values and sources
| Period | Revenue | Operating costs | Operating income | Tax, interest and other | Net income | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | 20289000000 | 16767000000 Derived | 3522000000 | 1339000000 Derived | 2183000000 | Unavailable | Source
|
| 2017 2017-01-01 – 2017-12-31 | 21146000000 | 17739000000 Derived | 3407000000 | 50000000 Derived | 3357000000 | Unavailable | Source
|
| 2018 2018-01-01 – 2018-12-31 | 21965000000 | 18759000000 Derived | 3206000000 | 741000000 Derived | 2465000000 | Unavailable | Source
|
| 2019 2019-01-01 – 2019-12-31 | 22428000000 | 19471000000 Derived | 2957000000 | 657000000 Derived | 2300000000 | Unavailable | Source
|
| 2020 2020-01-01 – 2020-12-31 | 9048000000 | 12864000000 Derived | -3816000000 | -742000000 Derived | -3074000000 | Unavailable | Source
|
| 2021 2021-01-01 – 2021-12-31 | 15790000000 | 14069000000 Derived | 1721000000 | 744000000 Derived | 977000000 | Unavailable | Source
|
| 2022 2022-01-01 – 2022-12-31 | 23814000000 | 22797000000 Derived | 1017000000 | 478000000 Derived | 539000000 | Unavailable | Source
|
| 2023 2023-01-01 – 2023-12-31 | 26091000000 | 25867000000 Derived | 224000000 | -241000000 Derived | 465000000 | Unavailable | Source
|
| 2024 2024-01-01 – 2024-12-31 | 27483000000 | 27162000000 Derived | 321000000 | -144000000 Derived | 465000000 | Unavailable | Source
|
| 2025 2025-01-01 – 2025-12-31 | 28063000000 | 27635000000 Derived | 428000000 | -13000000 Derived | 441000000 | Unavailable | Source
|
Amounts are exact, in USD.
Growth
Sales over time and how quickly they are changing.
Revenue
Revenue reported for each complete financial period.
USD 28.1B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Revenue | 20289000000 |
|
| 2017 | Revenue | 21146000000 |
|
| 2018 | Revenue | 21965000000 |
|
| 2019 | Revenue | 22428000000 |
|
| 2020 | Revenue | 9048000000 |
|
| 2021 | Revenue | 15790000000 |
|
| 2022 | Revenue | 23814000000 |
|
| 2023 | Revenue | 26091000000 |
|
| 2024 | Revenue | 27483000000 |
|
| 2025 | Revenue | 28063000000 |
|
Revenue growth
Change in revenue from the same financial period one year earlier.
2.1% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Year over year | 2.4% |
|
| 2017 | Year over year | 4.2% |
|
| 2018 | Year over year | 3.9% |
|
| 2019 | Year over year | 2.1% |
|
| 2020 | Year over year | -59.7% |
|
| 2021 | Year over year | 74.5% |
|
| 2022 | Year over year | 50.8% |
|
| 2023 | Year over year | 9.6% |
|
| 2024 | Year over year | 5.3% |
|
| 2025 | Year over year | 2.1% |
|
Profit and cash
How much revenue becomes profit, and how much cash operations generate.
Profit margins
Operating income, net income and free cash flow as a share of revenue.
Operating margin 1.5% 2025
Net margin 1.6% 2025
- Operating margin
- Net margin
- Free cash flow margin
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Operating margin | 17.4% |
|
| 2017 | Operating margin | 16.1% |
|
| 2018 | Operating margin | 14.6% |
|
| 2019 | Operating margin | 13.2% |
|
| 2020 | Operating margin | -42.2% |
|
| 2021 | Operating margin | 10.9% |
|
| 2022 | Operating margin | 4.3% |
|
| 2023 | Operating margin | 0.9% |
|
| 2024 | Operating margin | 1.2% |
|
| 2025 | Operating margin | 1.5% |
|
| 2016 | Net margin | 10.8% |
|
| 2017 | Net margin | 15.9% |
|
| 2018 | Net margin | 11.2% |
|
| 2019 | Net margin | 10.3% |
|
| 2020 | Net margin | -34% |
|
| 2021 | Net margin | 6.2% |
|
| 2022 | Net margin | 2.3% |
|
| 2023 | Net margin | 1.8% |
|
| 2024 | Net margin | 1.7% |
|
| 2025 | Net margin | 1.6% |
|
| 2016 | Free cash flow margin | Not reported |
|
| 2017 | Free cash flow margin | Not reported |
|
| 2018 | Free cash flow margin | Not reported |
|
| 2019 | Free cash flow margin | Not reported |
|
| 2020 | Free cash flow margin | Not reported |
|
| 2021 | Free cash flow margin | Not reported |
|
| 2022 | Free cash flow margin | Not reported |
|
| 2023 | Free cash flow margin | Not reported |
|
| 2024 | Free cash flow margin | Not reported |
|
| 2025 | Free cash flow margin | Not reported |
|
Operating cash flow
Cash generated by the company’s normal business operations.
USD 1.8B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Operating cash flow | 4293000000 |
|
| 2017 | Operating cash flow | 3929000000 |
|
| 2018 | Operating cash flow | 4893000000 |
|
| 2019 | Operating cash flow | 3987000000 |
|
| 2020 | Operating cash flow | -1127000000 |
|
| 2021 | Operating cash flow | 2322000000 |
|
| 2022 | Operating cash flow | 3790000000 |
|
| 2023 | Operating cash flow | 3164000000 |
|
| 2024 | Operating cash flow | 462000000 |
|
| 2025 | Operating cash flow | 1842000000 |
|
Free cash flow
Operating cash flow minus capital expenditure for the same period and unit.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Free cash flow | Unavailable |
|
| 2017 | Free cash flow | Unavailable |
|
| 2018 | Free cash flow | Unavailable |
|
| 2019 | Free cash flow | Unavailable |
|
| 2020 | Free cash flow | Unavailable |
|
| 2021 | Free cash flow | Unavailable |
|
| 2022 | Free cash flow | Unavailable |
|
| 2023 | Free cash flow | Unavailable |
|
| 2024 | Free cash flow | Unavailable |
|
| 2025 | Free cash flow | Unavailable |
|
Balance sheet
Liabilities and short-term ability to meet obligations at each period end.
Liabilities to assets
Total liabilities as a share of total assets.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016-12-31 | Liabilities / assets | Not reported |
|
| 2017-12-31 | Liabilities / assets | Not reported |
|
| 2018-12-31 | Liabilities / assets | Not reported |
|
| 2019-12-31 | Liabilities / assets | Not reported |
|
| 2020-12-31 | Liabilities / assets | Not reported |
|
| 2021-12-31 | Liabilities / assets | Not reported |
|
| 2022-12-31 | Liabilities / assets | Not reported |
|
| 2023-12-31 | Liabilities / assets | Not reported |
|
| 2024-12-31 | Liabilities / assets | Not reported |
|
| 2025-12-31 | Liabilities / assets | Not reported |
|
Current assets to current liabilities
Current assets divided by current liabilities.
0.52× 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Current assets / current liabilities | 0.66× |
|
| 2017 | Current assets / current liabilities | 0.7× |
|
| 2018 | Current assets / current liabilities | 0.64× |
|
| 2019 | Current assets / current liabilities | 0.67× |
|
| 2020 | Current assets / current liabilities | 2.02× |
|
| 2021 | Current assets / current liabilities | 1.97× |
|
| 2022 | Current assets / current liabilities | 1.43× |
|
| 2023 | Current assets / current liabilities | 1.14× |
|
| 2024 | Current assets / current liabilities | 0.92× |
|
| 2025 | Current assets / current liabilities | 0.52× |
|
Cash generation
Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.
| Period | Net income | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | USD 2.18 billion Exact valueExact value: 2183000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 4.29 billion Exact valueExact value: 4293000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2017 2017-01-01 – 2017-12-31 | USD 3.36 billion Exact valueExact value: 3357000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.93 billion Exact valueExact value: 3929000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2018 2018-01-01 – 2018-12-31 | USD 2.47 billion Exact valueExact value: 2465000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 4.89 billion Exact valueExact value: 4893000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2019 2019-01-01 – 2019-12-31 | USD 2.3 billion Exact valueExact value: 2300000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.99 billion Exact valueExact value: 3987000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2020 2020-01-01 – 2020-12-31 | −USD 3.07 billion Exact valueExact value: -3074000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | −USD 1.13 billion Exact valueExact value: -1127000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2021 2021-01-01 – 2021-12-31 | USD 977 million Exact valueExact value: 977000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.32 billion Exact valueExact value: 2322000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2022 2022-01-01 – 2022-12-31 | USD 539 million Exact valueExact value: 539000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.79 billion Exact valueExact value: 3790000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2023 2023-01-01 – 2023-12-31 | USD 465 million Exact valueExact value: 465000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.16 billion Exact valueExact value: 3164000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2024 2024-01-01 – 2024-12-31 | USD 465 million Exact valueExact value: 465000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 462 million Exact valueExact value: 462000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2025 2025-01-01 – 2025-12-31 | USD 441 million Exact valueExact value: 441000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.84 billion Exact valueExact value: 1842000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.
Dataset coverage and company identifiers
Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.
145 filings · 5,879 latest values · 5,879 originally reported values
Dataset published . Source filing dates and reporting periods are shown separately.
Identifiers: 0000092380, 92380, LUV, edgar:92380
Also known as SOUTHWEST AIRLINES CO, SOUTHWEST AIRLINES CO., Southwest Airlines Co, Southwest Airlines Co.