FFilingLens
Quarterly TTM Annual
Income Balance Cash flow
8Y

Three-Statement Breakdown

LUV
2026-06-30 · figures in $M

NET DEBT UP

Net debt moved from -$810.0M to $1.7B — the highest of its last 8 readings, and stands at 0.85× annualized EBITDA.

CASH -57.0%
3,231
TOTAL DEBT -26.4%
4,929
NET DEBT —
1,698
NET DEBT / ANN. EBITDA —
0.85× TARGET <2.0×
Balance sheet FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YoY
Cash & equivalents
10-Q
1,854 2,548 11,063 12,480 9,492 9,288 7,509 3,231 -57.0%
Accounts receivable
10-Q
568 1,086 46 58 117 104 47 98 +108.5%
Other current assets
10-Q
310 287 295 638 686 520 639 490 -23.3%
Total current assets
10-Q
5,028 5,974 15,173 18,036 14,808 13,955 11,274 5,645 -49.9%
Current ratio
10-Q
0.64× 0.67× 2.02× 1.97× 1.43× 1.14× 0.92× 0.52× -43.7%
Goodwill
10-Q
970 970 970 970 970 970 970 970 +0.0%
Property, plant & equipment
10-Q
19,525 17,025 15,831 14,842 17,342 19,375 19,056 20,245 +6.2%
Total assets
10-Q
26,243 25,895 34,588 36,320 35,369 36,487 33,750 29,061 -13.9%
Return on assets (annualized)
10-Q
9.4% 8.9% -8.9% 2.7% 1.5% 1.3% 1.4% 1.5% +10.1%
Accounts payable
10-Q
1,416 1,574 931 1,282 2,004 1,862 1,818 1,991 +9.5%
Accrued liabilities
10-Q
1,749 1,749 2,259 1,624 2,043 3,606 2,206 2,349 +6.5%
Short-term debt
10-Q
606 819 220 453 42 29 1,630 324 -80.1%
Total current liabilities
10-Q
7,905 8,952 7,506 9,164 10,378 12,256 12,276 10,921 -11.0%
Long-term debt
10-Q
2,771 1,846 10,111 10,274 8,046 7,978 5,069 4,577 -9.7%
Total liabilities
16,390 16,063 25,712 25,906 24,682 25,972 23,400 21,080 -9.9%
Net debt
1,523 117 -732 -1,753 -1,395 -1,276 -810 1,698 —
Stockholders' equity
10-Q
9,853 9,832 8,876 10,414 10,687 10,515 10,350 7,981 -22.9%
Net debt / TTM EBITDA
NOT DISCLOSED 10-Q
0.35× 0.03× — -0.59× -0.59× -0.73× -0.41× 0.85× —

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SELECTED · NET DEBT · QoQ BRIDGE
FROM-810 TOTAL DEBT-1,770 CASH & EQUIVALENTS+4,278 TO1,698
↹ CLICK A LINE TO SELECT · ⌘F FIND LINE ITEM SRC 10-Q FILED 2026-07-23 ↗