SOUTHWEST AIRLINES CO
Company Stats
- Market Cap
- $20.4B
- as of Sep 30, 2026
- Shares Outstanding
- 489.6M
- Free Float
- 86.6%
Income Statement
- Revenue
- $28.1B
- Operating Income
- $428.0M
- Net Income
- $441.0M
- EBITDA
- $2.0B
- Revenue Growth, 3Y
- 5.6%
- FCF Margin, 3Y Avg
- -3.4%
- FCF Margin, Worst Year
- -5.8%
Cash Flow
- Free Cash Flow
- -$831.0M
- FCF Yield
- -4.1%
- Owner FCF Yield
- -4.6%
Balance Sheet
- Cash & Equivalents
- $3.2B
Returns & Capital
- Dividends Paid
- $399.0M
- Dividend Yield
- 2.0%
- Dividend Payout, 3Y Avg
- 91.7%
- Share Repurchases
- $2.5B
- Buyback Yield, 3Y Avg
- 4.6%
- SBC, 3Y Avg
- $76.7M
Cash Flow by Year
| Year | Revenue | FCF | Margin |
|---|---|---|---|
| FY2025 | $28.1B | -$831.0M | -3.0% |
| FY2024 | $27.5B | -$1.6B | -5.8% |
| FY2023 | $26.1B | -$356.0M | -1.4% |
| FY2022 | $23.8B | -$134.0M | -0.6% |
| FY2021 | $15.8B | $1.8B | 11.5% |
Annual filing data through FY ended December 31, 2025; shares and float as of November 7, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.
Airlines and Travel Demand: Wheels Up Bookings Turn Lower
Stronger demand supports expansion as pricing diverges