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Southwest Airlines Co.

Southwest Airlines Co.

NYSE•LUV
CEO: Mr. Robert E. Jordan
Sector: Industrials
Industry: Airlines, Airports & Air Services
Listing Date: 1980-01-02
Southwest Airlines Co. operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos. It also provides inflight entertainment and connectivity services on Wi-Fi enabled aircraft; and Rapid Rewards loyalty program that enables program members to earn points for dollars spent on Southwest base fares. In addition, the company offers a suite of digital platforms to support customers' travel needs, including websites and apps; and SWABIZ, an online booking tool. Further, it provides ancillary services, such as Southwest's EarlyBird Check-In, upgraded boarding, and transportation of pets and unaccompanied minors. Southwest Airlines Co. was incorporated in 1967 and is headquartered in Dallas, Texas.
Contact Information
P.O. Box 36611, Dallas, TX, 75235-1611, United States
214-792-4000
www.southwest.com
Market Cap
$22.34B
P/E (TTM)
63.4
21.9
Dividend Yield
1.6%
52W High
$45.02
52W Low
$23.82
52W Range
91%
Rank39Top 39.1%
4.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$6.95B+1.15%
4-Quarter Trend

EPS

$0.10-9.09%
4-Quarter Trend

FCF

-$391.00M-5.56%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Record Quarterly Revenue Achieved Total operating revenues reached $6.95B USD in Q3 2025, marking an all-time quarterly record, up 1.1% versus prior year.
Strong Non-GAAP Operating Income Non-GAAP operating income for nine months totaled $159M USD, showing a massive 165.0% increase versus the same period last year.
Fuel Cost Decline Offset Expenses Economic fuel cost per gallon decreased 5.9% to $2.40 USD for Q3 2025, partially offsetting higher Salaries and wages expense.
Shareholder Capital Returned Returned $439M USD to Shareholders during Q3 2025 through dividends and accelerated share repurchase programs completion.

Risk Factors

Full Fuel Price Exposure Risk Fuel hedging program terminated in Q2 2025; company is now fully exposed to volatile jet fuel price fluctuations impacting operating costs.
GAAP Net Income Decreased GAAP net income fell 19.4% to $54M USD for Q3 2025, despite record revenue, due to increased operating expenses.
Ongoing Legal Contingencies Faces multiple class action lawsuits, including USERRA and securities litigation; adverse outcomes for these matters could be material.
MAX Aircraft Delivery Delays Continued MAX aircraft delivery delays from Boeing impact capacity planning and fleet modernization schedules for 2025 and beyond.

Outlook

Positive Q4 Revenue Guidance Q4 2025 RASM guidance projects 1% to 3% increase, supported by approximately 6% expected capacity growth (ASMs) year-over-year.
Workforce Savings Expected Expecting $210M USD in 2025 cost savings from the workforce reduction initiated in Q1 2025, with separations substantially complete.
Strategic Initiatives Underway Launched 'Getaways by Southwest' vacations and new fare products; announced free WiFi partnership for Rapid Rewards Members.
2025 EBIT Target Set Full year 2025 EBIT guidance estimated between $600M USD and $800M USD, reflecting current market expectations.

Peer Comparison

Revenue (TTM)

Southwest Airlines Co.LUV
$27.55B
+0.6%
Ryanair Holdings plcRYAAY
$16.64B
+11.2%
AECOMACM
$16.14B
+0.2%

Gross Margin (Latest Quarter)

Joby Aviation, Inc.JOBY
55.4%
+9.0pp
Snap-on IncorporatedSNA
52.2%
-0.6pp
RB Global, Inc.RBA
46.1%
+0.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
FTAI$26.02B53.3370.3%81.3%
LUV$22.34B63.44.3%18.6%
RBA$20.58B47.17.5%36.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
0.1%
Moderate Growth
4Q Net Income CAGR
-40.9%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Jan 29, 2026
|
EPS:$0.55
|
Revenue:$7.50B
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 23, 2025|
    Revenue: $6.95B+1.1%
    |
    EPS: $0.10-9.1%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 24, 2025|
    Revenue: $7.24B-1.5%
    |
    EPS: $0.40-35.5%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 25, 2025|
    Revenue: $6.43B+1.6%
    |
    EPS: $-0.26-33.3%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 7, 2025|
    Revenue: $27.48B+5.3%
    |
    EPS: $0.81+0.0%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 28, 2024|
    Revenue: $6.87B+5.3%
    |
    EPS: $0.11-65.6%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 29, 2024|
    Revenue: $7.35B+4.5%
    |
    EPS: $0.62-46.1%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 26, 2024|
    Revenue: $6.33B+10.9%
    |
    EPS: $-0.39+44.4%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 6, 2024|
    Revenue: $26.09B+9.6%
    |
    EPS: $0.81-11.0%
    Beat