Southwest Airlines Co. LUV SPX

Industrials · Airlines · United States

https://www.southwest.com

Southwest Airlines Co. operates as a passenger airline company that provides scheduled air transportation services in the United States and internationally. It also provides Rapid Rewards loyalty program; SWABIZ, an online booking tool; and inflight entertainment platform that includes movies-on-demand live and on-demand television, flight tracker, and additional curated content, as well as a variety of premium snacks and coffee. In addition, the company offers ancillary services, such as in-flight purchases, baggage fees, EarlyBird Check-In, and upgraded boarding, as well as transportation of pets and unaccompanied minors. As of December 31, 2025, the company operated a total fleet of 803 Boeing 737 aircraft; and served 117 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos. Southwest Airlines Co. was incorporated in 1967 and is headquartered in Dallas, Texas.

Market & Price

Market Cap

$20.99B

Current Price

$42.95

High / Low (52W)

$54.56 / $28.65

Beta

1.11

Valuation

Stock P/E

28.63

Industry PE

28.38

Forward P/E

9.49

PEG Ratio

0.29

Book Value

$14.07

Price to Book

3.05

P/S

0.73

EV/EBITDA

10.87

Dividend Yield

1.68%

Profitability & Returns

ROCE

3.73%

ROE

10.06%

ROA

1.94%

Profit Margin

2.83%

Op Margin

4.55%

EPS (Latest Qtr)

$0.45

EPS (TTM)

$1.50

Balance Sheet & Liquidity

Debt/Equity

0.93

Quick Ratio

0.37

Current Ratio

0.48

Debt

$6.40B

Total Assets

$29.06B

Current Assets

$5.64B

Working Capital

$-5.28B

Ownership

Promoter Holding

1.01%

Chg in Prom Hold

FII / Inst Holding

89.45%

Chg in FII Hold

0.01%

Financial Snapshot

Enterprise Value

$24.06B

Total Revenue (TTM)

$28.88B

EBITDA

$2.21B

Free Cash Flow

$-372.38M

Operating Cash Flow

$2.40B

Shares Outstanding

488.77M

Gross Margin

23.01%

Payout Ratio

48.00%

Growth (CAGR)

Revenue 5Y

5.63%

Profit 5Y

-6.47%

Revenue (YoY)

12.80%

Earnings (YoY)

PROS

In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Earnings shrank at -6.5% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	LUV Southwest Airlines Co. SPX	42.95	28.63	$20.99B	1.68%	3.73%	10.06%	5.63%	-6.47%
2	CAT Caterpillar Inc. SPX	875.87	43.66	$403.42B	0.69%	19.42%	51.33%	4.38%	9.83%
3	GE GE Aerospace SPX	323.76	40.17	$338.27B	0.58%	11.89%	45.43%	16.32%	195.89%
4	GEV GE Vernova Inc. SPXAI	968.32	28.33	$260.21B	0.21%	6.30%	75.71%	8.68%	92.84%
5	RTX RTX Corporation SPX	179.66	33.64	$241.95B	1.54%	9.41%	11.57%	9.72%	9.01%
6	UNP Union Pacific Corporation SPX	262.64	21.60	$155.93B	2.10%	16.19%	40.69%	-0.49%	0.66%
7	ETN Eaton Corporation plc SPXAI	400.60	39.20	$155.55B	1.10%	16.23%	20.84%	9.77%	18.41%
8	HON Honeywell International Inc. NDXSPX	237.86	38.00	$150.72B	2.00%	13.57%	24.26%	1.82%	-1.62%
9	DE Deere & Company SPX	542.18	30.67	$146.45B	1.20%	12.82%	18.35%	-4.50%	-11.00%

Quarterly Results

Figures in USD.

Metric	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	5.30B	-	4.94B	5.74B	5.58B	-	5.15B	5.91B	5.64B	-	4.23B	1.01B	1.79B	-	2.05B	4.01B	4.68B	4.69B	6.73B	6.22B	-	5.71B	7.04B	6.53B	6.33B	7.35B	-	-	6.43B	7.24B	6.95B	7.44B	7.25B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.56B	5.89B	5.79B	5.93B	5.88B
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	867.00M	1.36B	1.16B	1.51B	1.37B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.09B	1.13B	1.12B	1.12B	1.04B
Operating Income	1.03B	944.00M	1.28B	695.00M	846.00M	606.00M	1.22B	845.00M	741.00M	616.00M	972.00M	798.00M	820.00M	505.00M	968.00M	819.00M	665.00M	-110.00M	-1.13B	-1.41B	-1.17B	199.00M	594.00M	733.00M	-151.00M	1.16B	395.00M	-	-284.00M	795.00M	117.00M	-393.00M	398.00M	-	-	-223.00M	225.00M	35.00M	391.00M	330.00M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	239.00M	706.00M	484.00M	810.00M	725.00M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35.00M	26.00M	22.00M	31.00M	42.00M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-192.00M	280.00M	68.00M	408.00M	285.00M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-43.00M	67.00M	14.00M	85.00M	58.00M
Net Income	536.00M	513.00M	820.00M	388.00M	522.00M	339.00M	743.00M	528.00M	1.75B	463.00M	733.00M	615.00M	654.00M	387.00M	741.00M	659.00M	514.00M	-94.00M	-915.00M	-1.16B	-908.00M	116.00M	348.00M	446.00M	-278.00M	760.00M	277.00M	-220.00M	-159.00M	683.00M	193.00M	-231.00M	367.00M	-	-	-149.00M	213.00M	54.00M	323.00M	227.00M
Diluted EPS	0.82	0.79	1.28	0.62	0.84	0.55	1.23	0.88	2.94	0.79	1.27	1.08	1.17	0.70	1.37	1.23	0.98	-0.18	-1.63	-1.96	-1.54	0.19	0.57	0.73	-0.47	1.20	0.44	-	-0.27	1.08	0.31	-0.39	0.58	-	-	-0.26	0.39	0.10	0.61	0.45

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	-	20.29B	21.15B	21.96B	22.43B	9.05B	-	23.81B	26.09B	27.48B	28.06B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19.06B	21.87B	23.02B	23.17B
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.75B	4.22B	4.46B	4.89B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.73B	4.00B	4.14B	4.47B
Operating Income	791.00M	449.00M	262.00M	988.00M	693.00M	623.00M	1.28B	2.23B	4.12B	3.52B	3.41B	3.21B	2.96B	-3.82B	-	1.02B	224.00M	321.00M	428.00M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.38B	2.39B	2.47B	2.24B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	301.00M	236.00M	214.00M	113.00M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	728.00M	633.00M	598.00M	563.00M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	189.00M	168.00M	133.00M	122.00M
Net Income	645.00M	178.00M	99.00M	459.00M	178.00M	421.00M	754.00M	1.14B	2.18B	2.18B	3.36B	2.46B	2.30B	-3.07B	-	539.00M	465.00M	465.00M	441.00M
Diluted EPS	0.84	0.24	0.13	0.61	0.23	0.56	1.05	1.64	3.27	3.45	5.57	4.29	4.27	-5.44	-	0.87	0.81	0.76	0.79

Compounded Sales Growth

5 Years:	5.63%
1 Year:	12.80%

Compounded Profit Growth

5 Years:	-6.47%
1 Year:	-

Stock Price Performance

1 Year:	+31.27%
6 Months:	+26.09%
3 Months:	-12.43%
1 Month:	+15.39%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2006	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	14.07B	14.27B	15.46B	18.07B	18.60B	19.34B	19.72B	21.31B	23.29B	25.11B	26.24B	25.89B	34.59B	-	35.37B	36.49B	33.75B	29.06B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14.81B	13.96B	11.27B	5.64B
Cash & Equivalents	1.39B	2.21B	1.37B	1.11B	1.26B	829.00M	1.11B	1.35B	1.28B	1.58B	1.68B	1.50B	1.85B	2.55B	11.06B	-	9.49B	9.29B	7.51B	3.23B
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	790.00M	807.00M	800.00M	775.00M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	117.00M	104.00M	47.00M	98.00M
Total Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24.68B	25.97B	23.40B	21.08B
Current Liabilities	-	-	2.81B	2.69B	3.31B	4.53B	4.65B	5.68B	5.92B	7.41B	6.84B	6.86B	7.91B	8.95B	7.51B	-	10.38B	12.26B	12.28B	10.92B
Long Term Debt	-	-	3.50B	3.33B	2.88B	3.11B	2.88B	-	-	-	-	-	-	-	-	-	7.90B	7.98B	5.07B	4.58B
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9.43B	9.20B	8.06B	5.98B
Total Equity	6.45B	6.93B	4.94B	5.45B	6.24B	6.88B	6.99B	7.34B	6.78B	6.76B	7.78B	9.64B	9.85B	9.83B	8.88B	-	10.69B	10.52B	10.35B	7.98B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	888.11M	888.11M	888.11M	888.11M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	2.85B	-1.52B	985.00M	1.56B	1.36B	2.06B	2.48B	2.90B	3.24B	4.29B	3.93B	4.89B	3.99B	-1.13B	-	3.79B	3.16B	462.00M	1.84B
Investing Cash Flow	-1.53B	-978.00M	-1.57B	-1.26B	-1.02B	-833.00M	-1.38B	-1.73B	-1.91B	-2.27B	-2.41B	-2.04B	-303.00M	-16.00M	-	-3.75B	-2.93B	-261.00M	-1.43B
Financing Cash Flow	-493.00M	1.65B	330.00M	-149.00M	-766.00M	-947.00M	-851.00M	-1.25B	-1.02B	-1.92B	-1.71B	-2.50B	-2.99B	9.66B	-	-3.03B	-436.00M	-1.98B	-4.69B
Capital Expenditure	-1.33B	923.00M	-585.00M	-493.00M	-968.00M	-1.35B	-1.45B	-	-	-	-	-	-	-	-	-3.95B	-3.52B	-2.05B	-2.67B
Free Cash Flow	1.51B	-598.00M	400.00M	1.07B	388.00M	716.00M	1.03B	-	-	-	-	-	-	-	-	-156.00M	-356.00M	-1.59B	-831.00M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2.99B	-204.00M	-1.78B	-4.28B
Share Buybacks	1.00B	-54.00M	0	0	225.00M	400.00M	540.00M	955.00M	1.18B	1.75B	1.60B	2.00B	2.00B	451.00M	0	0	0	250.00M	2.55B
Dividends Paid	14.00M	-13.00M	13.00M	13.00M	14.00M	-	-	-	-	222.00M	274.00M	332.00M	372.00M	188.00M	0	0	428.00M	430.00M	399.00M

Ratios (Annual)

Figures in %.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20.0%	16.2%	16.2%	17.4%
Operating Margin %	-	-	-	-	-	-	-	-	-	17.4%	16.1%	14.6%	13.2%	-42.2%	-	4.3%	0.9%	1.2%	1.5%
Net Margin %	-	-	-	-	-	-	-	-	-	10.8%	15.9%	11.2%	10.3%	-34.0%	-	2.3%	1.8%	1.7%	1.6%
ROE %	9.3%	3.6%	1.8%	7.4%	2.6%	6.0%	10.3%	16.8%	32.3%	28.0%	34.8%	25.0%	23.4%	-34.6%	-	5.0%	4.4%	4.5%	5.5%
ROCE %	-	4.0%	2.3%	8.1%	5.1%	4.5%	9.3%	16.1%	29.6%	21.4%	18.7%	17.5%	17.5%	-14.1%	-	4.1%	0.9%	1.5%	2.4%

Shareholding Pattern

Insiders

1.01%

Institutions

89.45%

Public Float

90.36%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Primecap Management Company	9.63%	47.07M	$2.02B
2	Franklin Resources, Inc.	9.08%	44.39M	$1.91B
3	Vanguard Capital Management LLC	6.47%	31.64M	$1.36B
4	Elliott Investment Management L.P.	6.21%	30.35M	$1.30B
5	State Street Corporation	6.04%	29.52M	$1.27B
6	Blackrock Inc.	5.85%	28.57M	$1.23B
7	Vanguard Portfolio Management LLC	4.73%	23.13M	$993.44M
8	Price (T.Rowe) Associates Inc	2.84%	13.89M	$596.78M
9	Geode Capital Management, LLC	2.65%	12.98M	$557.31M
10	Ameriprise Financial, Inc.	2.04%	9.98M	$428.83M

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