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Southwest Airlines LUV Other Revenue — Total operating revenues

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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$23.42B+21.0%
Enterprise value$26.49B+24.8%
P/E28.7×-20.7×
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 other revenue — total operating revenues?
Southwest Airlines (LUV) reported other revenue — total operating revenues of $650M in Q4 2025.
How has Southwest Airlines's other revenue — total operating revenues changed year-over-year?
Southwest Airlines's other revenue — total operating revenues increased by 18.2% year-over-year, from $550M to $650M.
What is the long-term trend for Southwest Airlines's other revenue — total operating revenues?
Over 4 years (2021 to 2025), Southwest Airlines's other revenue — total operating revenues has grown at a 16.7% compound annual growth rate (CAGR), from $1.4B to $2.6B.
What does other revenue — total operating revenues mean?
This metric represents the total operating revenue generated by non-passenger flight services, such as loyalty program partnerships, co-branded credit card agreements, and ancillary service fees. It captures the diversification of income streams beyond core ticket sales, reflecting the company's ability to monetize its customer base through secondary channels. This segment is a critical indicator of the airline's non-ticket revenue strategy and its reliance on high-margin partnership income.