Southwest Airlines Co. (LUV) Financial Statements
Southwest Airlines financial statements at a glance
Southwest Airlines reported revenue of $28.06 billion for fiscal year 2025 (ended December 31, 2025), up 2.1% from fiscal year 2024. Net income was $441.00 million, a net margin of 1.6%.
At the end of fiscal year 2025 it had total assets of $29.06 billion, total liabilities of $21.08 billion and shareholders' equity of $7.98 billion, with total debt of $4.90 billion.
Its operations brought in $1.84 billion of cash.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Southwest Airlines Co.
Income Statement
Annual • USD
Southwest Airlines key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $28.1B | $27.5B | $26.1B | $23.8B | $15.8B |
| Gross profit | $20.6B | $19.7B | $18.1B | $16.3B | $4.1B |
| Operating income | $428.0M | $319.0M | $224.0M | $824.0M | $1.7B |
| Net income | $441.0M | $465.0M | $465.0M | $539.0M | $977.0M |
| Diluted EPS | – | – | – | – | $1.61 |
| Total assets | $29.1B | $33.8B | $36.5B | $35.4B | $36.3B |
| Total liabilities | $21.1B | $23.4B | $26.0B | $24.7B | $25.9B |
| Shareholders' equity | $8.0B | $10.4B | $10.5B | $10.7B | $10.4B |
| Cash | – | – | – | – | $12.5B |
| Total debt | $4.9B | $6.7B | $8.0B | $8.1B | $12.3B |
| Operating cash flow | $1.8B | $462.0M | $3.2B | $3.8B | $2.3B |
| Capital spending | – | – | – | – | $511.0M |
| Free cash flow | – | – | – | – | $1.8B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Southwest Airlines's revenue in fiscal year 2025?
$28.06 billion, up 2.1% from $27.48 billion in fiscal year 2024.
How much profit does Southwest Airlines make?
Southwest Airlines reported net income of $441.00 million for fiscal year 2025 (1.6% of revenue); operating income was $428.00 million.
How much cash and debt does Southwest Airlines have?
At the end of fiscal year 2025: total debt of $4.90 billion.
