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Southwest Airlines LUV North America — Total operating revenues

Other geography segments

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$756M-5.3%

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Other financials

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

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Market cap$23.67B+22.2%
Enterprise value$26.74B+26.0%
P/E29×-20.4×
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×

Where this comes from

Reported directly by Southwest Airlines in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Southwest Airlines’s 10-K, filed February 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Southwest Airlines's north america — total operating revenues?
Southwest Airlines (LUV) reported north america — total operating revenues of $6.83B in Q4 2025.
How has Southwest Airlines's north america — total operating revenues changed year-over-year?
Southwest Airlines's north america — total operating revenues increased by 2.2% year-over-year, from $6.68B to $6.83B.
What is the long-term trend for Southwest Airlines's north america — total operating revenues?
Over 4 years (2021 to 2025), Southwest Airlines's north america — total operating revenues has grown at a 15.6% compound annual growth rate (CAGR), from $15.3B to $27.3B.
What does north america — total operating revenues mean?
This metric represents the total gross income generated from airline operations within the North American geographic segment. It encompasses passenger ticket sales, ancillary fees, and other related aviation services provided across the company's primary domestic and regional flight network. This figure serves as a key indicator of the airline's market demand, pricing power, and overall scale of operations within its core geographic market.