SOUTHWEST AIRLINES CO

LUV

SOUTHWEST AIRLINES CO

LUV

Insider Sentiment (TTM):

Last Purchase:2025-08-06Last Sale:2026-04-07Shares Purchased (TTM):4,845Shares Sold (TTM):8,203

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:413,115,165Shares Outstanding:498,000,000Institutional Ownership Pct.:82.95%

Earnings Market Reaction:

Filing Date:2026-07-23Price on Filing Date:N/APrevious Close:N/A% Change:N/A

Companies in Air Transportation, Scheduled

JBLU UAL DAL AAL ALK SKYW

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	3,791	3,328	3,231	2,902	3,475	8,134	7,509	8,503	8,142	8,367	9,288	9,497
Short Term Investments	-	-	0	116	364	118	1,216	879	1,860	2,145	2,186	2,236
Accounts And Other Receivables Net Current	1,218	1,254	1,149	1,118	1,013	1,078	1,110	1,177	1,346	1,354	1,154	1,467
Airline Related Inventory	917	833	775	792	773	786	800	770	784	812	807	799
Prepaid Expense And Other Assets Current	556	554	490	467	467	618	639	601	619	603	520	632
Assets Current	6,482	5,969	5,645	5,395	6,092	10,734	11,274	11,930	12,751	13,281	13,955	14,631
Property Plant And Equipm…
Flight Equipment Gross	26,198	26,254	26,293	26,009	25,858	25,345	25,202	26,394	26,274	26,131	26,060	25,724
Property Plant And Equipment Other	9,485	9,317	9,163	8,776	8,656	8,474	8,244	7,955	7,704	7,500	7,460	7,344
Deposits On Flight Equipment	616	494	401	402	221	344	413	428	466	395	236	345
Property Plant And Equipment Gross	36,387	36,153	35,945	35,275	34,823	34,251	33,947	34,864	34,521	34,097	-	33,464
Property Plant And Equipment And Finance Lease Rig…	-	-	-	-	-	-	33,947	-	-	-	33,818	-
Accumulated Depreciation Depletion And Amortizatio…	15,745	15,777	15,700	15,570	15,422	15,094	14,891	15,091	14,856	14,536	-	14,389
Property Plant And Equipment And Finance Lease Rig…	-	-	-	-	-	-	14,891	-	-	-	14,443	-
Property Plant And Equipment And Finance Lease Rig…	-	-	-	-	-	-	19,056	-	-	-	19,375	-
Property Plant And Equipment Net	20,642	20,376	20,245	19,705	19,401	19,157	19,056	19,773	19,665	19,561	-	19,075
Goodwill	970	970	970	970	970	970	970	970	970	970	970	970
Operating Lease Right Of Use Asset	953	1,019	1,089	1,169	1,243	1,303	1,369	1,101	1,132	1,182	1,223	1,288
Other Assets Noncurrent	1,075	1,021	1,112	1,073	1,006	1,048	1,081	1,073	1,045	1,024	964	1,016
Assets	30,122	29,355	29,061	28,312	28,712	33,212	33,750	34,847	35,563	36,018	36,487	36,980
Liabilities And Stockhold…
Liabilities Current
Accounts Payable Current	2,072	2,114	1,991	1,708	1,811	1,925	1,818	1,518	2,028	1,949	1,862	1,736
Accrued Liabilities Current	2,247	2,170	2,349	2,091	2,040	1,978	2,206	2,096	1,870	2,400	3,606	2,880
Operating Lease Liability Current	283	300	312	310	323	331	328	202	198	206	208	220
Contract With Customer Liability Current	6,510	7,049	5,945	6,862	6,696	7,059	6,294	6,743	7,086	7,642	6,551	7,246
Long Term Debt And Capital Lease Obligations Curre…	2,156	851	324	23	22	2,608	1,630	2,930	2,931	28	29	30
Liabilities Current	13,268	12,484	10,921	10,994	10,892	13,901	12,276	13,489	14,113	12,225	12,256	12,112
Long Term Debt And Capital Lease Obligations	3,790	4,536	4,577	4,079	4,081	4,086	5,069	5,075	5,065	7,974	7,978	7,984
Contract With Customer Liability Noncurrent	1,674	1,201	1,219	1,263	1,600	1,843	1,948	1,957	1,990	1,752	1,728	1,754
Deferred Income Tax Liabilities Net	2,421	2,353	2,289	2,210	2,186	2,124	2,167	2,094	2,089	1,981	2,044	2,157
Operating Lease Liability Noncurrent	660	709	768	846	915	970	1,031	888	915	953	985	1,039
Other Liabilities Noncurrent	1,227	1,197	1,306	1,144	1,038	923	909	933	926	937	981	880
Stockholders Equity
Common Stock Value	888	888	888	888	888	888	888	888	888	888	888	888
Additional Paid In Capital Common Stock	4,294	4,260	4,322	4,283	4,247	4,210	4,199	4,180	4,151	4,138	4,153	4,135
Retained Earnings Accumulated Deficit	16,672	16,526	16,388	16,158	16,199	16,080	16,332	16,178	16,218	15,959	16,297	16,657
Accumulated Other Comprehensive Income Loss Net Of…	22	-1	-24	-6	-35	-24	-25	-37	11	19	0	201
Treasury Stock Common Value	-14,794	-14,798	-13,593	-13,547	-13,299	-11,789	-11,044	-10,798	-10,803	-10,808	-10,823	-10,827
Stockholders Equity	7,082	6,875	7,981	7,776	8,000	9,365	10,350	10,411	10,465	10,196	10,515	11,054
Liabilities And Stockholders Equity	30,122	29,355	29,061	28,312	28,712	33,212	33,750	34,847	35,563	36,018	36,487	36,980
Common Stock Par Or Stated Value Per Share	-	-	1	-	-	-	1	-	-	-	1	-
Common Stock Shares Authorized	-	-	2,000	-	-	-	2,000	-	-	-	2,000	-
Common Stock Shares Issued	-	-	888	-	-	-	888	-	-	-	888	-
Treasury Stock Common Shares	-	-	373	-	-	-	295	-	-	-	292	-

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	1.99%	20.98%	28.85%	-	-	-	-	-	-	-	-	-
2025	23.33%	19.78%	40.97%	-5.29%	-4.28%	-5.39%	3.70%	30.08%	41.28%	-6.19%	-28.54%	-24.55%
2024	3.07%	4.99%	2.49%	7.11%	11.05%	18.47%	5.51%	9.83%	6.50%	0.19%	9.00%	-14.04%
2023	-	-	-	-4.60%	-11.39%	-24.28%	10.48%	31.86%	34.05%	9.44%	-5.43%	-12.43%
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Performance and Valuation Metrics

Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	0.49	0.48	0.52	0.49	0.56	0.77	0.92	0.88	0.90	1.09	1.14	1.21
Quick Ratio	0.45	0.43	0.47	0.45	0.52	0.73	0.87	0.84	0.86	1.04	1.10	1.16
Working Capital	-6.79B	-6.52B	-5.28B	-5.60B	-4.80B	-3.17B	-1.00B	-1.56B	-1.36B	1.06B	1.70B	2.52B
Leverage & Debt
Debt to Equity	1.87	1.82	1.37	1.41	1.36	1.48	1.19	1.30	1.35	1.20	1.17	1.10
Interest Coverage TTM	5.21	5.61	2.56	1.77	1.54	2.13	1.29	-1.12	-0.88	0.35	0.86	1.90
Debt Ratio	0.44	0.43	0.38	0.39	0.38	0.42	0.36	0.39	0.40	0.34	0.34	0.33
Efficiency & Turnover
Asset Turnover TTM	1.02	0.92	0.89	0.87	0.85	0.80	0.78	0.76	0.75	0.75	0.73	0.70
Per Share Metrics
Diluted EPS TTM	1.70	1.62	-	0.72	0.73	0.94	-	-0.08	0.12	0.66	-	0.78
Free Cash Flow Per Share TTM	-0.83	-0.76	-0.94	-0.58	-0.58	-0.98	-1.79	-3.15	-2.86	-1.18	-0.40	-1.43
Dividend Per Share TTM	0.76	0.77	0.45	0.76	0.79	0.55	0.49	0.72	0.72	0.72	0.48	0.72
Margin Metrics
Gross Profit Margin TTM	55.46%	54.45%	53.81%	53.49%	53.90%	55.04%	55.46%	55.55%	56.25%	56.52%	57.26%	58.35%
Operating Profit Margin TTM	3.46%	3.40%	1.53%	1.14%	1.16%	1.78%	1.17%	-1.32%	-1.04%	0.43%	0.86%	0.96%
Net Profit Margin TTM	2.78%	2.83%	1.57%	1.38%	1.43%	1.98%	1.69%	-0.18%	0.28%	1.47%	1.78%	1.95%
Growth Metrics
Net Revenue Growth (1Y)	9.46%	4.72%	2.11%	0.64%	1.63%	3.25%	5.34%	7.61%	7.54%	7.60%	9.56%	12.11%
Net Income Growth (1Y)	112.98%	49.36%	-5.16%	-875.51%	410.39%	39.19%	0.00%	-109.86%	-86.75%	-40.27%	-13.73%	-39.83%
EPS Growth (1Y)	134.32%	75.15%	-5.16%	-988.20%	468.26%	42.28%	0.00%	-109.81%	-86.84%	-40.57%	-13.73%	-40.13%
Valuation Metrics
P/E TTM	30.04	22.80	82.51	43.35	43.59	34.99	62.30	-349.57	213.49	42.27	52.30	30.59
P/B TTM	3.55	2.71	4.56	2.12	2.14	2.04	2.80	1.65	1.57	1.63	2.31	1.38
P/S TTM	0.84	0.64	1.30	0.60	0.62	0.69	1.05	0.63	0.61	0.62	0.93	0.60
Market Cap	25.14B	18.63B	36.39B	16.47B	17.13B	19.14B	28.97B	17.13B	16.44B	16.61B	24.32B	15.20B
Enterprise Value	27.30B	20.69B	38.06B	17.67B	17.76B	17.70B	28.16B	16.63B	16.29B	16.25B	23.04B	13.72B
Calculated Values
Free Cash Flow TTM	-405.00M	-376.00M	-831.00M	-301.00M	-314.00M	-572.00M	-1.59B	-1.89B	-1.71B	-703.00M	-356.00M	-851.00M
Net Debt	2.16B	2.06B	1.67B	1.20B	628.00M	-1.44B	-810.00M	-498.00M	-146.00M	-365.00M	-1.28B	-1.48B
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-04-07Sale

Owner: Atherton, Lisa M

Title: -

Shares: 118

Price/Share: $37.95

Value: $4,478.10

Shares Owned: -

Relationship: Director

Ownership: Indirect

2025-12-05Sale

Owner: Jones, Justin

Title: EVP Operations

Shares: 8,085

Price/Share: $37.36

Value: $302,055.60

Shares Owned: 61,860

Relationship: Officer

Ownership: Direct

2025-08-06Purchase

Owner: Saretsky, Gregg A

Title: -

Shares: 3,345

Price/Share: $30.03

Value: $100,450.35

Shares Owned: 23,644

Relationship: Director

Ownership: Direct

2025-08-05Purchase

Owner: Feinberg, Sarah

Title: -

Shares: 1,500

Price/Share: $30.01

Value: $45,015.00

Shares Owned: 14,229

Relationship: Director

Ownership: Direct

2025-04-30Purchase

Owner: Saretsky, Gregg A

Title: -

Shares: 3,670

Price/Share: $27.29

Value: $100,154.30

Shares Owned: 14,881

Relationship: Director

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-04-07	Atherton, Lisa M	Director	-	Indirect	Sale	118	37.95	$4,478.10	0	4
2025-12-05	Jones, Justin	Officer	EVP Operations	Direct	Sale	8,085	37.36	$302,055.60	61,860	4
2025-08-06	Saretsky, Gregg A	Director	-	Direct	Purchase	3,345	30.03	$100,450.35	23,644	4
2025-08-05	Feinberg, Sarah	Director	-	Direct	Purchase	1,500	30.01	$45,015.00	14,229	4
2025-04-30	Saretsky, Gregg A	Director	-	Direct	Purchase	3,670	27.29	$100,154.30	14,881	4
2025-04-29	Breber, Pierre R	Director	-	Indirect	Purchase	10,000	26.87	$268,700.00	44,000	4
2025-04-28	Hess, David P	Director	-	Direct	Purchase	7,500	26.52	$198,900.00	23,156	4
2025-03-14	Feinberg, Sarah	Director	-	Direct	Purchase	500	31.48	$15,740.00	7,311	4
2025-03-13	Reynolds, Christopher P.	Director	-	Direct	Purchase	3,258	30.68	$99,955.44	18,914	4
2025-03-13	Watson, Patricia A	Director	-	Direct	Purchase	3,268	30.58	$99,935.44	11,243	4
2025-03-12	Cush, C. David	Director	-	Direct	Purchase	5,000	30.03	$150,150.00	19,011	4
2025-01-30	Atherton, Lisa M	Director	-	Indirect	Purchase	118	31.28	$3,691.04	118	4
2024-12-06	Rutherford, Linda B.	Officer	Chief Administration Officer	Direct	Sale	3,849	34.40	$132,405.60	89,376	4
2024-10-28	Elliott, Investment Manag…	TenPercentOwner	-	Indirect	Sale	1,203,920	29.83	$35,912,933.60	59,912,580	4
2024-10-01	Gangwal, Rakesh	Director	-	Direct	Purchase	643,788	29.97	$19,294,326.36	3,606,311	4
2024-09-30	Kelly, Gary C	Director,Officer	Executive Chairman	Direct	Purchase	33,921	29.52	$1,001,347.92	146,410	4
2024-09-30	Gangwal, Rakesh	Director	-	Direct	Purchase	109,198	29.75	$3,248,640.50	2,006,311	4
2023-05-02	Green, Ryan C.	Officer	EVP, Chief Commercial Officer	Direct	Sale	4,936	29.94	$147,783.84	26,361	4
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Institutional Ownership

No data available for chart

2026-03-31

82.95%

Inst. Shares: 413,115,165

Shares Outstanding: 498,000,000

2025-12-31

92.06%

Inst. Shares: 458,474,641

Shares Outstanding: 498,000,000

2025-09-30

93.96%

Inst. Shares: 491,387,012

Shares Outstanding: 523,000,000

2025-06-30

89.80%

Inst. Shares: 483,116,997

Shares Outstanding: 538,000,000

2025-03-31

85.12%

Inst. Shares: 497,076,408

Shares Outstanding: 584,000,000

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	413,115,165	498,000,000	82.95%
2025-12-31	458,474,641	498,000,000	92.06%
2025-09-30	491,387,012	523,000,000	93.96%
2025-06-30	483,116,997	538,000,000	89.80%
2025-03-31	497,076,408	584,000,000	85.12%
2024-12-31	515,287,148	584,000,000	88.23%
2024-09-30	511,697,855	599,000,000	85.43%
2024-06-30	493,079,438	599,000,000	82.32%
2024-03-31	437,225,795	597,000,000	73.24%
2023-12-31	435,055,682	597,000,000	72.87%
2023-09-30	426,701,201	596,000,000	71.59%
2023-06-30	411,332,191	595,000,000	69.13%
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SOUTHWEST AIRLINES CO (LUV) — SEC Financial Statements & Analysis

SOUTHWEST AIRLINES CO (LUV) is a air transportation, scheduled company, incorporated in TX. SOUTHWEST AIRLINES CO trades on NYSE as: LUV. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), SOUTHWEST AIRLINES CO reported a 9.46% year-over-year revenue growth, a Gross Profit Margin of 55.46% (TTM), a Debt-to-Equity ratio of 1.87x, a Price-to-Sales (P/S) ratio of 0.84x (TTM), a Price-to-Book (P/B) ratio of 3.55 (TTM), at a market cap of $25.14B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 9.46%
Gross Profit Margin TTM: 55.46%
Debt To Equity: 1.87x
P/S TTM: 0.84x
P/B TTM: 3.55
Market Cap: $25.14B

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is SOUTHWEST AIRLINES CO in?

SOUTHWEST AIRLINES CO (LUV) operates in the Air Transportation, Scheduled industry.

What is LUV's market cap?

SOUTHWEST AIRLINES CO (LUV) has a market capitalization of $25.14B as of 2026-06-30.

What is LUV's P/E ratio?

SOUTHWEST AIRLINES CO (LUV)'s trailing twelve month P/E ratio is 30.04x as of 2026-06-30.

What exchange does LUV trade on?

SOUTHWEST AIRLINES CO (LUV) trades on the NYSE.

Where is SOUTHWEST AIRLINES CO incorporated?

SOUTHWEST AIRLINES CO is incorporated in TX.

SOUTHWEST AIRLINES CO (LUV) — SEC Financial Statements & Analysis

Frequently Asked Questions

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