FFilingLens
Quarterly TTM Annual
Income Balance Cash flow
8Q

Three-Statement Breakdown

LUV
2026-06-30 · figures in $M

FCF DOWN

Free cash flow moved from $788.0M to -$288.0M.

CASH FROM OPS -62.6%
530 6.3% MGN
CAPITAL EXPENDITURE +29.8%
818
FREE CASH FLOW —
-288
FCF / NET INCOME —
-1.24× TARGET >1.0×
Cash flow 24-09 24-12 25-03 25-06 25-09 25-12 26-03 QoQ YoY TTM 8Q
Net income
10-Q
67 262 -149 213 54 323 227 233 +2.6% +9.4% 837 2024-09-30 · $67.0M2024-12-31 · $262.0M2025-03-31 · -$149.0M2025-06-30 · $213.0M2025-09-30 · $54.0M2025-12-31 · $323.0M2026-03-31 · $227.0M2026-06-30 · $233.0M
Depreciation & amortization
10-Q
438 407 396 400 394 370 398 402 +1.0% +0.5% 1,564
Cash from operations
10-Q
113 476 860 401 287 294 1,418 530 -62.6% +32.2% 2,529 2024-09-30 · $113.0M2024-12-31 · $476.0M2025-03-31 · $860.0M2025-06-30 · $401.0M2025-09-30 · $287.0M2025-12-31 · $294.0M2026-03-31 · $1.4B2026-06-30 · $530.0M
Cash conversion
NOT DISCLOSED 10-Q
1.69× 1.82× — 1.88× 5.31× 0.91× 6.25× 2.27× -63.6% +20.8% 3.02×
Capital expenditures
RESTATED · WAS (635) 10-Q
(517) (460) (527) (660) (678) (808) (630) (818) +29.8% +23.9% (2,934)
Free cash flow
-404 16 333 -259 -391 -514 788 -288 — — -405 2024-09-30 · -$404.0M2024-12-31 · $16.0M2025-03-31 · $333.0M2025-06-30 · -$259.0M2025-09-30 · -$391.0M2025-12-31 · -$514.0M2026-03-31 · $788.0M2026-06-30 · -$288.0M
FCF margin
-5.9% 0.2% 5.2% -3.6% -5.6% -6.9% 10.9% -3.4% — — -1.3%
Cash from investing
10-Q
458 72 623 -882 -428 -742 -445 -560 — — -2,175
Dividends paid
10-Q
216 -1 107 103 189 0 93 88 -5.4% -14.6% 370
Share repurchases
10-Q
0 250 750 1,500 250 50 1,250 0 PAUSED PAUSED 1,550
Cash from financing
10-Q
-210 -1,542 -858 -4,178 -432 777 -876 493 — — -38
Net change in cash
10-Q
361 -994 625 -4,659 -573 329 97 463 4.8× — 316
Ending cash balance
10-Q
8,503 7,509 8,134 3,475 2,902 3,231 3,328 3,791 +13.9% +9.1% 3,791

Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.

SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM788 CASH FROM OPERATIONS-888 CAPITAL EXPENDITURES-188 TO-288
↹ CLICK A LINE TO SELECT · ⌘F FIND LINE ITEM SRC 10-Q FILED 2026-07-23 ↗