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LU

SOUTHWEST AIRLINES CO

LUV Industrials · Transportation
Latest period 2026-06-30 · 43 filings on record
Quarterly TTM Annual
8Q 3Y 5Y 10Y MAX
18-09 → 26-06 32 QUARTERS
SHOWING Discrete quarters as filed — each point is one 10-Q, or a Q4 derived from the 10-K.
Ranked against Industrials · 69 peers

Each grade is a single reported quarter's assessment, never an average — a card shows the grade at the newest quarter in view, so it follows the period and range controls above. Latest scored quarter: 2026-06-30.

Growth 57th pct

▲+27 over range · as of 2026-06-30

Revenue +16.4% YoY, earnings +9.4% YoY · sector avg 71

Quality 9th pct

▲+4 over range · as of 2026-06-30

2.8% net margin, 12% return on equity, -1% free-cash-flow margin, profitable in 7 of last 8 quarters · sector avg 49

Safety 33rd pct

▼−15 over range · as of 2026-06-30

Net debt 0.8x EBITDA, 4x interest coverage, 0.5x current ratio · sector avg 68

OVERVIEWQoQ Δ

Latest quarter · ending 2026-06-30 · green = improving · click a row to chart it

Revenue $8.4B +16.3% Gross margin — — Operating margin 3.4% −1.2pp Net margin 2.8% −0.4pp CHARTED Net income $233.0M +2.6%
Debt / equity 0.84 +7.2%
EPS (diluted) $0.47 +4.4% EBITDA $687.0M −5.6%

Filings

18-09 → 26-06 · following the period bar 30 match
ALL 10-K 10-Q Q1 Q2 Q3 FY SORT NEWEST ↓
Year Q1Q2Q3FY
2026 10-Q 10-Q
2025 10-Q 10-Q 10-Q 10-K
2024 10-Q 10-Q 10-Q 10-K
2023 10-Q 10-Q 10-Q 10-K
2022 10-Q 10-Q 10-Q 10-K
2021 10-Q 10-Q 10-Q 10-K
2020 10-Q 10-Q 10-Q 10-K
2019 10-Q 10-K
10-Q Q2 2026 2026-07-23 Pro → 10-Q Q1 2026 2026-04-23 Pro → 10-K/A FY 2026-02-06 Pro → 10-K FY 2025 2026-02-05 Pro → 10-Q Q3 2025 2025-10-23 Pro → 10-Q Q2 2025 2025-07-24 Pro →
All 30 filings 10-Q Q1 2025 2025-04-25 Pro → 10-K FY 2024 2025-02-07 Pro → 10-Q Q3 2024 2024-10-28 Pro → 10-Q Q2 2024 2024-07-29 Pro → 10-Q Q1 2024 2024-04-26 Pro → 10-K FY 2023 2024-02-06 Pro → 10-Q Q3 2023 2023-10-30 Pro → 10-Q Q2 2023 2023-07-28 Pro → 10-Q Q1 2023 2023-04-28 Pro → 10-K FY 2022 2023-02-07 Pro → 10-Q Q3 2022 2022-10-31 Pro → 10-Q Q2 2022 2022-08-02 Pro → 10-Q Q1 2022 2022-05-02 Pro → 10-K FY 2021 2022-02-07 Pro → 10-Q Q3 2021 2021-10-26 Pro → 10-Q Q2 2021 2021-07-27 Pro → 10-Q Q1 2021 2021-04-27 Pro → 10-K FY 2020 2021-02-08 Pro → 10-Q Q3 2020 2020-10-27 Pro → 10-Q Q2 2020 2020-07-27 Pro → 10-Q Q1 2020 2020-04-28 Pro → 10-K FY 2019 2020-02-04 Pro → 10-Q Q3 2019 2019-11-08 Pro → 10-K FY 2018 2019-02-05 Pro →

Filing-level fact detail is a Pro feature. The grades and figures above are free. See Pro plans

Trends

Quarter-over-quarter, from cached filings
Revenue
Latest$8.4B QoQ+16.3% Periods32
$8.4B$5.6B$2.8B$018-092018-09-3022-092022-09-3026-062026-06-30
Revenue by period
PeriodPeriod end Revenue
18-092018-09-30 $5.6B
18-122018-12-31 $5.7B
19-032019-03-31 $5.1B
19-062019-06-30 $5.9B
19-092019-09-30 $5.6B
19-122019-12-31 $5.7B
20-032020-03-31 $4.2B
20-062020-06-30 $1.0B
20-092020-09-30 $1.8B
20-122020-12-31 $2.0B
21-032021-03-31 $2.1B
21-062021-06-30 $4.0B
21-092021-09-30 $4.7B
21-122021-12-31 $5.1B
22-032022-03-31 $4.7B
22-062022-06-30 $6.7B
22-092022-09-30 $6.2B
22-122022-12-31 $6.2B
23-032023-03-31 $5.7B
23-062023-06-30 $7.0B
23-092023-09-30 $6.5B
23-122023-12-31 $6.8B
24-032024-03-31 $6.3B
24-062024-06-30 $7.4B
24-092024-09-30 $6.9B
24-122024-12-31 $6.9B
25-032025-03-31 $6.4B
25-062025-06-30 $7.2B
25-092025-09-30 $6.9B
25-122025-12-31 $7.4B
26-032026-03-31 $7.2B
26-062026-06-30 $8.4B
Net income
Latest$233.0M QoQ+2.6% Periods32
$760.0M$108.2M-$524.4M-$1.2B18-092018-09-3022-092022-09-3026-062026-06-30
Net income by period
PeriodPeriod end Net income
18-092018-09-30 $615.0M
18-122018-12-31 $654.0M
19-032019-03-31 $387.0M
19-062019-06-30 $741.0M
19-092019-09-30 $659.0M
19-122019-12-31 $514.0M
20-032020-03-31 -$94.0M
20-062020-06-30 -$915.0M
20-092020-09-30 -$1.2B
20-122020-12-31 -$908.0M
21-032021-03-31 $116.0M
21-062021-06-30 $348.0M
21-092021-09-30 $446.0M
21-122021-12-31 $67.0M
22-032022-03-31 -$278.0M
22-062022-06-30 $760.0M
22-092022-09-30 $277.0M
22-122022-12-31 -$220.0M
23-032023-03-31 -$159.0M
23-062023-06-30 $683.0M
23-092023-09-30 $193.0M
23-122023-12-31 -$252.0M
24-032024-03-31 -$231.0M
24-062024-06-30 $367.0M
24-092024-09-30 $67.0M
24-122024-12-31 $262.0M
25-032025-03-31 -$149.0M
25-062025-06-30 $213.0M
25-092025-09-30 $54.0M
25-122025-12-31 $323.0M
26-032026-03-31 $227.0M
26-062026-06-30 $233.0M
Operating income
Latest$285.0M QoQ−13.6% Periods32
$1.2B$284.5M-$563.2M-$1.4B18-092018-09-3022-092022-09-3026-062026-06-30
Operating income by period
PeriodPeriod end Operating income
18-092018-09-30 $798.0M
18-122018-12-31 $820.0M
19-032019-03-31 $505.0M
19-062019-06-30 $968.0M
19-092019-09-30 $819.0M
19-122019-12-31 $665.0M
20-032020-03-31 -$110.0M
20-062020-06-30 -$1.1B
20-092020-09-30 -$1.4B
20-122020-12-31 -$1.2B
21-032021-03-31 $199.0M
21-062021-06-30 $594.0M
21-092021-09-30 $733.0M
21-122021-12-31 $195.0M
22-032022-03-31 -$151.0M
22-062022-06-30 $1.2B
22-092022-09-30 $395.0M
22-122022-12-31 -$385.0M
23-032023-03-31 -$284.0M
23-062023-06-30 $795.0M
23-092023-09-30 $117.0M
23-122023-12-31 -$404.0M
24-032024-03-31 -$393.0M
24-062024-06-30 $398.0M
24-092024-09-30 $38.0M
24-122024-12-31 $278.0M
25-032025-03-31 -$223.0M
25-062025-06-30 $225.0M
25-092025-09-30 $35.0M
25-122025-12-31 $391.0M
26-032026-03-31 $330.0M
26-062026-06-30 $285.0M
Net margin
Latest2.8% QoQ−0.4pp Periods32
12.5%-22.6%-56.7%-90.8%18-092018-09-3022-092022-09-3026-062026-06-30
Net margin by period
PeriodPeriod end Net margin
18-092018-09-30 11.0%
18-122018-12-31 11.5%
19-032019-03-31 7.5%
19-062019-06-30 12.5%
19-092019-09-30 11.7%
19-122019-12-31 9.0%
20-032020-03-31 -2.2%
20-062020-06-30 -90.8%
20-092020-09-30 -64.5%
20-122020-12-31 -45.1%
21-032021-03-31 5.7%
21-062021-06-30 8.7%
21-092021-09-30 9.5%
21-122021-12-31 1.3%
22-032022-03-31 -5.9%
22-062022-06-30 11.3%
22-092022-09-30 4.5%
22-122022-12-31 -3.6%
23-032023-03-31 -2.8%
23-062023-06-30 9.7%
23-092023-09-30 3.0%
23-122023-12-31 -3.7%
24-032024-03-31 -3.6%
24-062024-06-30 5.0%
24-092024-09-30 1.0%
24-122024-12-31 3.8%
25-032025-03-31 -2.3%
25-062025-06-30 2.9%
25-092025-09-30 0.8%
25-122025-12-31 4.3%
26-032026-03-31 3.1%
26-062026-06-30 2.8%
ZOOM
08-03 26-06

Grade history

Point-in-time: each period shows the grade of the quarter it ends at — grades are never summed or averaged across a window.

Growth 57 Quality 9 Safety 33
025507510018-092018-09-3022-092022-09-3026-062026-06-30

Hover to read every grade at a period · shared with the trends chart · axis fixed 0–100

Grade history by period
PeriodPeriod end GrowthQualitySafety
18-092018-09-30 not scorednot scorednot scored
18-122018-12-31 not scorednot scorednot scored
19-032019-03-31 not scorednot scorednot scored
19-062019-06-30 not scorednot scorednot scored
19-092019-09-30 not scorednot scorednot scored
19-122019-12-31 not scorednot scorednot scored
20-032020-03-31 not scorednot scorednot scored
20-062020-06-30 not scorednot scorednot scored
20-092020-09-30 not scorednot scorednot scored
20-122020-12-31 not scorednot scorednot scored
21-032021-03-31 not scorednot scorednot scored
21-062021-06-30 not scorednot scorednot scored
21-092021-09-30 not scorednot scorednot scored
21-122021-12-31 not scorednot scorednot scored
22-032022-03-31 not scorednot scorednot scored
22-062022-06-30 not scorednot scorednot scored
22-092022-09-30 not scorednot scorednot scored
22-122022-12-31 not scorednot scorednot scored
23-032023-03-31 not scorednot scorednot scored
23-062023-06-30 not scorednot scorednot scored
23-092023-09-30 30548
23-122023-12-31 47464
24-032024-03-31 38342
24-062024-06-30 27546
24-092024-09-30 27338
24-122024-12-31 65544
25-032025-03-31 60235
25-062025-06-30 12336
25-092025-09-30 22333
25-122025-12-31 63647
26-032026-03-31 841042
26-062026-06-30 57933