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Southwest Airlines LUV Other — Total operating revenues

Other product segments

Passenger non-loyalty
$6.1B+12.0%
Passenger ancillary sold separately
$875M+183%
Passenger loyalty - air transportation
$766M-12.0%

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Other financials

Income statement

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Revenue$8.4B+16.4%
Operating income$285.0M+26.7%
Net income$233.0M+9.4%
EPS (diluted)$0.47+20.5%

Balance sheet

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Cash & equivalents$3.8B+9.1%
Total debt$6.9B+29.0%
Total equity$7.1B-11.5%
Total assets$30.1B+4.9%

Cash flow

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Operating cash flow$530.0M+32.2%
CapEx$818.0M+23.9%
Free cash flow-$288.0M-11.2%

Valuation

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Market cap$21.97B+43.9%
Enterprise value$25.06B+46.3%
P/E26.2×-12.7×
P/S0.7×+0.2×

Profitability

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Operating margin3.5%+2.3pp
Net margin2.8%+1.4pp
FCF margin-1.5%+0.5pp

Returns & leverage

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Return on equity11.1%+6.9pp
Debt / equity+0.3×
Current ratio0.5×-0.1×

Where this comes from

Reported directly by Southwest Airlines in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Southwest Airlines’s 10-Q, filed July 23, 2026.

Filed
Jul 23, 2026, 4:11 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000092380-26-000077
(in millions)Three months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Loyalty program$578$536$1,135$1,081
Other593711767
Total other revenues$637$573$1,252$1,148

Item 1. Financial Statements

FAQ

What is Southwest Airlines's other — total operating revenues?
Southwest Airlines (LUV) reported other — total operating revenues of $59M in Q2 2026.
How has Southwest Airlines's other — total operating revenues changed year-over-year?
Southwest Airlines's other — total operating revenues increased by 59.5% year-over-year, from $37M to $59M.
What is the long-term trend for Southwest Airlines's other — total operating revenues?
Over 4 years (2021 to 2025), Southwest Airlines's other — total operating revenues has grown at a -4.5% compound annual growth rate (CAGR), from $1.54B to $1.28B.
What does other — total operating revenues mean?
This metric represents the total revenue generated by business activities outside of the primary passenger and cargo transportation services. It typically includes ancillary income streams such as co-branded credit card agreements, loyalty program partnerships, and other miscellaneous service fees. Tracking this segment provides insight into the company's ability to monetize its brand and customer base beyond core flight operations.

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