Southwest Airlines

Industrials Passenger Airlines Dallas, Texas Last filing Feb 5, 2026 · FY2025

                    Revenue
                    FY2025
                
$28.1B
                    3y CAGR +5.6%
                    
                    P53
                    
                    n/a
                    
                    Net income
                    FY2025
                
$441.0M
                    Net margin +1.6%
                    
                    P1
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$29.1B
                    ROA +1.5%
                    
                    P3
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$1.8B
                    
                    n/a

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 1 year

Total assets $29.1B

Total liabilities $10.9B

Shareholders equity $8.0B

Account	2025	Trend
Assets
Cash and Cash Equivalents	11.1%
Accounts Receivable	0.3%
Inventory	4.2%
Prepaid Expenses	1.7%
Other Current Assets	3.8%
Total Current Assets	19.4%
Property,Plant and Equipment	69.7%
Operating Lease Assets	3.7%
Goodwill	3.3%
Intangible Assets	1.0%
Deferred Tax Assets	7.9%
Other Noncurrent Assets	3.8%
Total Assets	100.0%
Liabilities
Accounts Payable	6.9%
Accrued Liabilities	8.1%
Deferred Revenue	20.5%
Operating Lease Liabilities	1.1%
Other Current Liabilities	4.5%
Total Current Liabilities	37.6%
Long Term Debt	15.7%
Deferred Revenue Noncurrent	4.2%
Operating Lease Liabilities Noncurrent	2.6%
Deferred Tax Liabilities	7.9%
Other Noncurrent Liabilities	4.5%
Total Liabilities	37.6%
Equity
Common Stock	3.1%
Additional Paid In Capital	14.9%
Retained Earnings	56.4%
Treasury Stock	8.9%
Accumulated Other Comprehensive Income	-0.1%
Total Stockholders Equity	27.5%
Total Liabilitiesand Equity	100.0%

Income Statement

Revenue, expense, and profitability

15 accounts · 1 year

Revenue $28.1B

Operating income $428.0M

Net income $441.0M

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	96.6%
Expenses Depreciation and Amortization	5.4%
Expenses Share Based Compensation	0.3%
Other Income Expense Operating Income	1.5%
Other Income Expense Interest Income	0.7%
Other Income Expense Interest Expense	0.6%
Other Income Expense Other Income/expense	0.1%
Other Income Expense Income Before Tax	1.9%
Income Tax Income Tax Expense	0.4%
net Income net Income	1.5%
net Income Comprehensive Income	1.5%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	1.9%
Earnings Per Share Weighted Average Shares Diluted	1.9%

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 1 year

Operating cash flow $1.8B

Investing cash flow $-1.4B

Financing cash flow $-4.7B

Account	2025	Trend
CashFlow
Operating Activities net Income	1.5%
Operating Activities Depreciation and Amortization	5.4%
Operating Activities Stock Based Compensation	0.3%
Operating Activities Deferred Income Taxes	0.4%
Operating Activities Changes In Operating Assets and Liabilities	-3.7%
Operating Activities Other Non Cash Items	0.5%
Operating Activities net Cash From Operating Activities	6.3%
Investing Activities net Cash From Investing Activities	-4.9%
Financing Activities Repurchase of Common Stock	8.8%
Financing Activities Dividends Paid	1.4%
Financing Activities Proceeds From Stock Issuance	0.2%
Financing Activities Other Financing Activities	-0.1%
Financing Activities net Cash From Financing Activities	-16.1%
Cash Reconciliation Effect of Exchange Rate On Cash	11.1%
Cash Reconciliation net Change In Cash	-14.7%
Cash Reconciliation Cash At Beginning of Period	11.1%
Cash Reconciliation Cash At End of Period	11.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	—
Operating margin	+1.5%
Net margin	+1.6%
FCF margin	—
Growth
Revenue CAGR (3y)	+5.6%
Returns
ROE	+5.5%
ROA	+1.5%
ROIC	+3.6%
Liquidity
Current ratio	0.52x
Quick ratio	0.30x
Leverage
D/E	1.37x
Interest coverage	2.56x
Efficiency
Asset turnover	0.97x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Southwest Airlines

Assets, liabilities, and equity

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Margins, returns, liquidity, leverage, efficiency

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