Southwest Airlines financials
$42.08−0.47%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.43B | $7.25B | $7.44B | $6.95B | $7.24B | $6.43B | $6.93B | $6.87B | $7.35B | $6.33B | $6.82B | $6.53B |
| Gross profit | $8.43B | $7.25B | $7.44B | $6.95B | $7.24B | $6.43B | $6.93B | $6.87B | $7.35B | $6.33B | $6.82B | $6.53B |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating income | $285.0M | $330.0M | $391.0M | $35.0M | $225.0M | -$223.0M | $278.0M | $38.0M | $398.0M | -$393.0M | -$404.0M | $117.0M |
| Net income | $233.0M | $227.0M | $323.0M | $54.0M | $213.0M | -$149.0M | $261.0M | $67.0M | $367.0M | -$231.0M | -$233.0M | $193.0M |
| Net margin | 2.8% | 3.1% | 4.3% | 0.8% | 2.9% | −2.3% | 3.8% | 1.0% | 5.0% | −3.6% | −3.4% | 3.0% |
| Diluted EPS | $0.47 | $0.45 | $0.56 | $0.10 | $0.39 | $-0.26 | $0.36 | $0.11 | $0.58 | $-0.39 | $-0.34 | $0.31 |
| EBITDA | $687.0M | $728.0M | $762.0M | $429.0M | $625.0M | $173.0M | $685.0M | $476.0M | $802.0M | $15.0M | -$404.0M | $492.0M |
| Operating cash flow | $530.0M | $1.42B | $295.0M | $287.0M | $401.0M | $860.0M | $476.0M | $113.0M | -$23.0M | -$104.0M | $425.0M | $616.0M |
| Free cash flow | -$288.0M | $788.0M | -$564.0M | -$391.0M | -$259.0M | $333.0M | $42.0M | -$414.0M | -$523.0M | -$696.0M | -$293.0M | -$234.0M |
| Diluted shares | 493.0M | 503.0M | 581.0M | 526.0M | 541.0M | 584.0M | 731.0M | 601.0M | 643.0M | 597.0M | 687.0M | 640.0M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $3.79B | $3.33B | $3.23B | $2.90B | $3.48B | $8.13B |
| Short-term investments | $0.00 | $0.00 | $0.00 | $116.0M | $364.0M | $118.0M |
| Total debt | $5.95B | $5.39B | $4.90B | $4.10B | $4.10B | $6.69B |
| Total assets | $30.12B | $29.36B | $29.06B | $28.31B | $28.71B | $33.21B |
| Total liabilities | $23.04B | $22.48B | $21.08B | $20.54B | $20.71B | $23.85B |
| Shareholders' equity | $7.08B | $6.88B | $7.98B | $7.78B | $8.00B | $9.37B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology