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Southwest Airlines

LUV

Southwest Airlines Co. is a major passenger airline providing scheduled air transportation services primarily in the United States and near-international markets.

Market cap
$23.25B+9.2%
Revenue$28.9B+4.7%
Net income$817.0M+49.6%
Free cash flow-$401.0M+31.8%
EPS (diluted)$1.52+78.8%
Trailing twelve months · change vs. prior year

Earnings

Next report

Jul 22, 2026 (In 6 days)
Revenue estimate$8.6B
EPS estimate$0.52

Financials

Q1 2026

Income statement

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Revenue$7.2B+12.8%
Operating income$330.0M+248%
Net income$227.0M+252%
EPS (diluted)$0.45+273%

Balance sheet

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Cash & equivalents$3.3B-59.1%
Total debt$6.4B-20.0%
Total equity$6.9B-26.6%
Total assets$29.4B-11.6%

Cash flow

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Operating cash flow$1.4B+64.9%
CapEx$630.0M+19.5%
Free cash flow$788.0M+137%

Valuation & ratios

Valuation

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Market cap$23.42B+9.2%
Enterprise value$26.49B+22.1%
P/E28.7×-21.9×
P/S0.8×+0.1×

Profitability

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Operating margin3.4%+1.6pp
Net margin2.8%+0.8pp
FCF margin-1.4%-0.4pp

Returns & leverage

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Return on equity10.1%+4.5pp
Debt / equity0.9×+0.1×
Current ratio0.5×-0.3×

Segments

By product

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Passenger non-loyalty$5.2B+8.9%
Passenger ancillary sold separately$715.0M+192%
Passenger loyalty - air transportation$688.0M-14.0%

Competitors

Profile

Southwest Airlines Co. is a major passenger airline providing scheduled air transportation services primarily in the United States and near-international markets. The company distinguishes itself through a unique point-to-point route network, a low-cost operating model centered on a single aircraft type, and a customer-centric service philosophy. Its value proposition focuses on competitive fares, operational efficiency, and high-frequency short-to-long-haul nonstop flights.

Competitive position

A leading low-cost carrier in the U.S. market, maintaining a unique point-to-point network and a strong investment-grade balance sheet.

GeographiesUnited States, Mexico, Caribbean, Central America
Customer segmentsB2C, B2B, Government
Business modelLow-cost carrier, Point-to-point transportation, Loyalty-based marketing, Direct-to-consumer distribution
SuppliersAircraft manufacturers, Jet fuel suppliers, Airport authorities, Air traffic control systems, Technology and AI service providers
CustomersIndividual passengers, Corporate enterprises, Travel management companies, Online travel agencies
Listed1973
Employees74.7K
CEORobert E. Jordan
FilingsSEC EDGAR

Questions, answered.

What is Southwest Airlines's market cap?
Southwest Airlines (LUV) has a market capitalization of $23.2B and trades on NYSE.
What is Southwest Airlines's revenue and profitability?
Southwest Airlines generated $28.9B in trailing twelve-month revenue with net income of $817.0M, representing a net margin of 2.8%, with free cash flow of -$401.0M. These figures are based on the Q1 2026 filing.
Who are Southwest Airlines's competitors?
Southwest Airlines's key competitors include American Airlines Group Inc., United Airlines Holdings, Inc., Delta Air Lines, Inc., and others. These companies compete in similar markets and product categories.
Who does Southwest Airlines partner with?
Southwest Airlines's notable partners include The Boeing Company, JPMorgan Chase & Co., T-Mobile US, Inc., and others.
What subsidiaries does Southwest Airlines have?
Southwest Airlines's subsidiaries include Southwest Airlines India Private Limited.
Where is Southwest Airlines headquartered?
Southwest Airlines is headquartered in United States of America and employs approximately 74,695 people. It has been publicly traded since 1973.