Companies / Industrials
LUV
Southwest Airlines
Passenger Airlines
Passenger AirlinesAnalysis in progress
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Business at a glance
Operating-health scores describe reported fundamentals on a 0–100 scale. They are not a rating of the stock. How they work
Operating health43
Growth38
Profitability18
Cash generation4
Balance sheet56
Dilution control100
Key ratios and five-year financials
Latest quarter revenue YoY (2026-09-30)21.2%Revenue growth (FY)2.1%Revenue CAGR (3y)5.6%Gross margin—Operating margin1.5%Net margin1.6%Free cash flow margin-3.0%R&D / revenue—Stock comp / revenue0.4%Net debt / operating cash flow0.92xCurrent ratio0.52Diluted share count change-13.2%
| Fiscal year ending | FY 2021-12 | FY 2022-12 | FY 2023-12 | FY 2024-12 | FY 2025-12 |
|---|---|---|---|---|---|
| Revenue | $15.8B | $23.8B | $26.1B | $27.5B | $28.1B |
| Operating income | $1.7B | $1.0B | $224M | $321M | $428M |
| Net income | $977M | $539M | $465M | $465M | $441M |
| Operating cash flow | $2.3B | $3.8B | $3.2B | $462M | $1.8B |
| Capital expenditure | $505M | $3.9B | $3.5B | $2.1B | $2.7B |
| Free cash flow | $1.8B | -$134M | -$356M | -$1.6B | -$831M |
| Stock-based comp | $58M | $84M | $86M | $45M | $99M |
| Buybacks | $0 | $0 | $0 | $250M | $2.5B |
| Dividends | $0 | $0 | $428M | $430M | $399M |
| Cash | $12.5B | $9.5B | $9.3B | $7.5B | $3.2B |
| Total debt | $10.3B | $8.1B | $8.0B | $6.7B | $4.9B |
| Equity | $10.4B | $10.7B | $10.5B | $10.3B | $8.0B |
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