LUV
Southwest Airlines Company
NYSE: LUV · INDUSTRIALS · AIRLINES
$37.22
-2.08% today
Updated 2026-04-29
Market cap
$18.19B
P/E ratio
24.81
P/S ratio
0.63x
EPS (TTM)
$1.50
Dividend yield
1.89%
52W range
$28 – $55
Volume
9.0M
Southwest Airlines Company (LUV) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.09B | $9.86B | $11.02B | $10.35B | $12.10B | $15.66B | $17.09B | $17.70B | $18.61B | $19.82B | $20.43B | $21.17B | $21.96B | $22.43B | $9.05B | $15.79B | $23.81B | $26.09B | $27.48B | $28.06B |
| Revenue growth (YoY) | — | +8.5% | +11.8% | -6.1% | +16.9% | +29.4% | +9.1% | +3.6% | +5.1% | +6.5% | +3.1% | +3.7% | +3.8% | +2.1% | -59.7% | +74.5% | +50.8% | +9.6% | +5.3% | +2.1% |
| Cost of revenue | $5.24B | $2.59B | $3.62B | $4.67B | $9.69B | $12.95B | $14.24B | $14.21B | $14.05B | $13.42B | $14.06B | $14.89B | $15.91B | $16.45B | $10.94B | $11.68B | $19.06B | $21.87B | $23.02B | $23.17B |
| Gross profit | $3.85B | $7.27B | $7.41B | $5.68B | $2.41B | $2.71B | $2.85B | $3.49B | $4.56B | $6.40B | $6.22B | $6.25B | $6.06B | $5.98B | $-1.89B | $4.12B | $4.75B | $4.22B | $4.46B | $4.89B |
| Gross margin | 42.4% | 73.7% | 67.2% | 54.9% | 19.9% | 17.3% | 16.6% | 19.7% | 24.5% | 32.3% | 30.5% | 29.5% | 27.6% | 26.7% | -20.9% | 26.1% | 20.0% | 16.2% | 16.2% | 17.4% |
| R&D | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $3.71B | $3.21B | $3.34B | $3.47B | $3.70B | $4.37B | $6.79B | $7.16B | $7.64B | $7.39B | $2.47B | $2.62B | $2.64B | $2.81B | $1.77B | $2.20B | $3.51B | $3.73B | $14.13B | $14.19B |
| Operating income | $934.00M | $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 | $1.72B | $1.02B | $224.00M | $321.00M | $428.00M |
| Operating margin | 10.3% | 8.0% | 4.1% | 2.5% | 8.2% | 4.4% | 3.6% | 7.2% | 12.0% | 20.8% | 17.2% | 16.1% | 14.6% | 13.2% | -42.2% | 10.9% | 4.3% | 0.9% | 1.2% | 1.5% |
| EBITDA | $1.45B | $1.73B | $982.00M | $945.00M | $1.52B | $1.22B | $1.66B | $2.18B | $2.86B | $4.58B | $4.75B | $4.55B | $4.46B | $4.26B | $-2.69B | $3.03B | $2.38B | $2.39B | $2.47B | $2.24B |
| EBITDA margin | 15.9% | 17.6% | 8.9% | 9.1% | 12.6% | 7.8% | 9.7% | 12.3% | 15.4% | 23.1% | 23.2% | 21.5% | 20.3% | 19.0% | -29.7% | 19.2% | 10.0% | 9.2% | 9.0% | 8.0% |
| EBIT | $934.00M | $1.18B | $383.00M | $329.00M | $894.00M | $505.00M | $811.00M | $1.32B | $1.92B | $3.57B | $3.52B | $3.33B | $3.26B | $3.04B | $-3.94B | $1.76B | $1.03B | $869.00M | $812.00M | $676.00M |
| Interest expense | $128.00M | $119.00M | $105.00M | $165.00M | $149.00M | $182.00M | $126.00M | $107.00M | $107.00M | $90.00M | $75.00M | $65.00M | $93.00M | $82.00M | $314.00M | $431.00M | $301.00M | $236.00M | $214.00M | $113.00M |
| Income tax | $291.00M | $413.00M | $100.00M | $65.00M | $286.00M | $145.00M | $264.00M | $455.00M | $680.00M | $1.30B | $1.27B | $-92.00M | $699.00M | $657.00M | $-1.18B | $348.00M | $189.00M | $168.00M | $133.00M | $122.00M |
| Effective tax rate | 36.8% | 39.0% | 36.0% | 39.6% | 38.4% | 44.9% | 38.5% | 37.6% | 37.4% | 37.3% | 36.1% | -2.7% | 22.1% | 22.2% | 27.8% | 26.3% | 26.0% | 26.5% | 22.2% | 21.7% |
| Net income | $499.00M | $645.00M | $178.00M | $99.00M | $459.00M | $178.00M | $421.00M | $754.00M | $1.14B | $2.18B | $2.24B | $3.49B | $2.46B | $2.30B | $-3.07B | $977.00M | $539.00M | $465.00M | $465.00M | $441.00M |
| Net income growth (YoY) | — | +29.3% | -72.4% | -44.4% | +363.6% | -61.2% | +136.5% | +79.1% | +50.7% | +92.0% | +2.9% | +55.4% | -29.3% | -6.7% | -233.7% | +131.8% | -44.8% | -13.7% | +0.0% | -5.2% |
| Profit margin | 5.5% | 6.5% | 1.6% | 1.0% | 3.8% | 1.1% | 2.5% | 4.3% | 6.1% | 11.0% | 11.0% | 16.5% | 11.2% | 10.3% | -34.0% | 6.2% | 2.3% | 1.8% | 1.7% | 1.6% |