SOUTHWEST AIRLINES CO
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $28.1B | $27.5B | $26.1B | $23.8B | $15.8B |
| Operating income | $428.0M | $321.0M | $224.0M | $1.0B | $1.7B |
| Interest expense | $167.0M | $249.0M | $259.0M | $340.0M | — |
| Pretax income | $563.0M | $598.0M | $633.0M | $728.0M | $1.3B |
| Income tax expense | $122.0M | $133.0M | $168.0M | $189.0M | $348.0M |
| Net income | $441.0M | $465.0M | $465.0M | $539.0M | $977.0M |
| Balance Sheet | |||||
| Cash and equivalents | $3.2B | $7.5B | $9.3B | $9.5B | $12.5B |
| Current assets | $5.6B | $11.3B | $14.0B | $14.8B | $18.0B |
| Total assets | $29.1B | $33.8B | $36.5B | $35.4B | $36.3B |
| Current liabilities | $10.9B | $12.3B | $12.3B | $10.4B | $9.2B |
| Stockholders' equity | $8.0B | $10.3B | $10.5B | $10.7B | $10.4B |
| Cash Flow Statement | |||||
| Cash from operations | $1.8B | $462.0M | $3.2B | $3.8B | $2.3B |
| Depreciation and amortization | $1.6B | $1.7B | $1.5B | $1.4B | $1.3B |
| Stock-based compensation | $99.0M | $45.0M | $86.0M | $84.0M | $58.0M |
| Capital expenditure | $2.7B | $2.1B | $3.5B | $3.9B | $505.0M |
| Free cash flow | -$831.0M | -$1.6B | -$356.0M | -$134.0M | $1.8B |
| Dividends paid | $399.0M | $430.0M | $428.0M | $0 | $0 |
| Share repurchases | $2.5B | $250.0M | $0 | $0 | $0 |
| Impairments | — | — | — | $28.0M | $12.0M |
Shares outstanding 488.8M · Free float 86.4%
Annual filing data through FY ended December 31, 2025; float as of July 8, 2026.