Stocks Consumer discretionary LUV
NYSE · Consumer discretionarySouthwest Airlines Co (LUV)
Southwest Airlines Co brought in $31.5B of revenue over the twelve months to September 30, 2026, up 14.5% from a year earlier. Net income was $1.1B, a net margin of 3.3%. In fiscal 2025 capital spending exceeded operating cash flow by $831M. At September 30, 2026 it held $3.6B in cash against $5.9B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 22, 2026.
Key facts about Southwest Airlines Co
- Net worth
- Southwest Airlines Co has a market value (market cap) of $22.5B at the latest share price, and shareholders' equity of $7.3B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $28.1B (+2.1% year on year), with net income of $441M. Over the 12 months to September 30, 2026: revenue $31.5B, net income $1.1B.
- Cash flow
- In fiscal 2025 operations brought in $1.8B of cash; after $2.7B of capital spending, free cash flow was -$831M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 22, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Southwest Airlines Co's next report is expected around January 27, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Southwest Airlines Co declared dividends of $0.72 per share in fiscal 2025, a yield of 1.57% at the current price.
What Southwest Airlines Co does
Southwest Airlines Co is registered with the SEC under industry code SIC 4512 (Air Transportation, Scheduled). Its shares trade on NYSE under the ticker LUV.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $28.1B | $441M | $0.79 | -$831M |
| 2024 | $27.5B | $465M | $0.76 | -$1.6B |
| 2023 | $26.1B | $465M | $0.76 | -$356M |
| 2022 | $23.8B | $539M | $0.87 | -$134M |
| 2021 | $15.8B | $977M | $1.61 | $1.8B |
| 2020 | $9B | -$3.1B | -$5.44 | -$1.6B |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where LUV ranks in Consumer discretionary
Dividends
Southwest Airlines Co declared $0.72 per share in fiscal 2025. At the current price that is a yield of 1.57%. It paid out $399M in cash dividends, 90% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $0.72 | $399M | 90% |
| 2024 | $0.72 | $430M | 92% |
| 2023 | $0.72 | $428M | 92% |
| 2022 | $0.18 | $0 | 0% |
| 2021 | n/a | $0 | 0% |
| 2020 | $0.18 | $188M | n/a |
Latest SEC filings
What Southwest Airlines Co has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 2, 2026
- October 22, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 21% to $8.4B versus the same quarter last year; diluted EPS $0.55 versus $0.10.
- October 21, 2026
- October 7, 2026Passive stake changed SCHEDULE 13G/A
- October 5, 2026Passive stake changed SCHEDULE 13G/A
- August 12, 2026
- August 10, 2026
- August 7, 2026
- July 23, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 16% to $8.4B versus the same quarter last year; diluted EPS $0.47 versus $0.39.
- July 22, 2026
Insider trades
What the people running Southwest Airlines Co did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 2 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 15, 2026 | Martinez Jimmy RyanPrincipal Accounting Officer | Received as pay | 2,697 | - |
| August 21, 2026 | Martinez Jimmy RyanPrincipal Accounting Officer | Shares withheld for tax | 179 | $7.2K |
| August 10, 2026 | Liberty Jason TDirector | Received as pay | 3,787 | - |
| August 10, 2026 | Krishna VarunDirector | Received as pay | 3,787 | - |
| August 5, 2026 | Doxey TomEVP, Chief Financial Officer | Received as pay | 6,316 | - |
| August 5, 2026 | Jordan Robert ECEO & President, Director | Received as pay | 28,321 | - |
| August 5, 2026 | Watterson Andrew MChief Operating Officer | Received as pay | 2,995 | - |
| August 5, 2026 | Woods Lauren TauscherEVP & CIO | Received as pay | 7,598 | - |
Who owns LUV
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Franklin Templeton, Inc.13G, passive with 3 related filers | 10.2% | October 7, 2026 |
| Primecap Management Co13G, passive | 10.02% | October 5, 2026 |
| Vanguard Capital Management13G, passive | 7.25% | April 30, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 928 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Primecap Management Co | 48,797,725 | +1,728,230 |
| Franklin Resources Inc | 46,578,090 | +2,191,682 |
| Vanguard Capital Management LLC | 31,614,180 | -30,452 |
| BlackRock, Inc. | 29,917,962 | +1,344,681 |
| State Street Corp | 29,326,975 | -192,816 |
| Elliott Investment Management L.P. | 24,308,000 | -6,038,000 |
| Vanguard Portfolio Management LLC | 23,999,965 | +869,817 |
| Geode Capital Management, LLC | 12,739,007 | -236,713 |
| Ameriprise Financial Inc | 10,777,353 | +792,921 |
| Goldman Sachs Group Inc | 10,409,159 | +6,890,529 |
| Fmr LLC | 9,621,712 | -141,948 |
| Jpmorgan Chase & Co | 8,864,414 | +4,462,978 |
| Crake Asset Management LLP | 7,065,875 | +4,145,899 |
| Invesco Ltd. | 6,953,490 | +436,104 |
| UBS Group AG | 6,534,122 | +3,990,742 |
| Dimensional Fund Advisors LP | 6,054,557 | +291,403 |
| Morgan Stanley | 5,991,193 | +260,188 |
| Bank of America Corp | 5,276,832 | -996,251 |
| Par Capital Management Inc | 4,905,756 | -313,436 |
| Bank of New York Mellon Corp | 4,567,724 | +643,317 |
Insiders
18 insiders reported holding 1,346,857 shares in total, about $61.8M at the last price.
| Holder | Shares |
|---|---|
| Jordan Robert ECEO & President, Director | 534,055 |
| Watterson Andrew MChief Operating Officer | 209,840 |
| Doxey TomEVP, Chief Financial Officer | 111,116 |
| Jones JustinEVP & Chief Commercial Officer | 85,784 |
| Brooks Douglas HDirector | 84,223 |
| Roach AnthonyChief Customer & Brand Officer | 73,179 |
| Woods Lauren TauscherEVP & CIO | 56,658 |
| Hess David PDirector | 32,682 |
| Reynolds Christopher P.Director | 28,440 |
| Martinez Jimmy RyanPrincipal Accounting Officer | 27,941 |
Questions about LUV
What does Southwest Airlines Co do?
Southwest Airlines Co is a company in the Consumer discretionary sector, listed on NYSE as LUV. Its shares trade on NYSE under the ticker LUV.
What is Southwest Airlines Co's net worth?
Southwest Airlines Co has a market value (market cap) of $22.5B at the latest share price, and shareholders' equity of $7.3B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Southwest Airlines Co profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $1.1B on revenue of $31.5B, a net margin of 3.3%.
How much revenue does Southwest Airlines Co make?
Over the twelve months to September 30, 2026 Southwest Airlines Co reported revenue of $31.5B. That is 14.5% more than a year earlier.
When did Southwest Airlines Co last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 22, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the material agreement from November 2, 2026.
When is Southwest Airlines Co's next earnings report?
Southwest Airlines Co's next report is expected around January 27, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does Southwest Airlines Co pay a dividend?
Yes. Southwest Airlines Co declared dividends of $0.72 per share in fiscal 2025, a yield of 1.57% at the current price.
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Where the numbers come from
Financial figures are the values Southwest Airlines Co tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.