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Southwest Airlines LUV Passenger — 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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JetBlue Airways logo
JBLUPassenger — Total operating revenues
$2.49B+14.1%
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ULCCPassenger — Total operating revenues
$1.24B+37.5%
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ALKPassenger — Total Operating Revenue
$2.92B+4.0%
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ALGTPassenger Revenue — Passenger
$671.8M+8.9%
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ALKPassenger ticket revenue, net of taxes and fees — Total Operating Revenue
$2.43B+3.1%
Delta Air Lines logo
DALPassenger — Operating revenue
$15.61B+12.5%

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$22.31B+37.3%
Enterprise value$25.41B+40.3%
P/E26.7×-14.8×
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 official record: Southwest Airlines’s 10-Q, filed July 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Southwest Airlines's passenger — total operating revenues?
Southwest Airlines (LUV) reported passenger — total operating revenues of $7.75B in Q2 2026.
How has Southwest Airlines's passenger — total operating revenues changed year-over-year?
Southwest Airlines's passenger — total operating revenues increased by 16.9% year-over-year, from $6.63B to $7.75B.
What is the long-term trend for Southwest Airlines's passenger — total operating revenues?
Over 4 years (2021 to 2025), Southwest Airlines's passenger — total operating revenues has grown at a 16.1% compound annual growth rate (CAGR), from $14.07B to $25.54B.
What does passenger — total operating revenues mean?
This metric represents the total gross revenue generated specifically from the airline's passenger transportation services, including ticket sales and associated passenger-related fees. It serves as the primary indicator of the company's core business performance and demand for its flight network. By isolating passenger-related income, it allows stakeholders to assess the effectiveness of pricing strategies, route utilization, and overall passenger volume growth.