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Jetblue Airways vs Southwest Airlines: revenue, profit, margins and growth compared

Jetblue Airways brought in $9.1B of revenue in fiscal 2025, Southwest Airlines $28.1B in fiscal 2025. Revenue changed by -2.3% at Jetblue Airways and +2.1% at Southwest Airlines on the year before, so Southwest Airlines grew faster. Jetblue Airways kept -6.6% of its revenue as net profit, Southwest Airlines 1.6%. Free cash flow was -$1.2B at Jetblue Airways and -$831M at Southwest Airlines.

Side by side, latest fiscal year

JBLULUV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$9.1B$28.1B
Revenue growth-2.3%+2.1%
Net income-$602M$441M
Net margin-6.6%1.6%
Free cash flow-$1.2B-$831M
Free cash flow margin-12.9%-3.0%
Earnings per share (diluted)-$1.66$0.79
Cash$1.9B$3.2B
Debt$8.5B$4.9B
Price to earningsn/a54.0
Market value$1.7B$20.9B
Dividend yieldn/a1.69%
Rank by revenue in sector#124 of 778 · Consumer discretionary#36 of 778 · Consumer discretionary

Over the years

Revenue
JBLU FY2018: $7.7BJBLU FY2019: $8.1BJBLU FY2020: $3BJBLU FY2021: $6BJBLU FY2022: $9.2BJBLU FY2023: $9.6BJBLU FY2024: $9.3BJBLU FY2025: $9.1BLUV FY2018: $22BLUV FY2019: $22.4BLUV FY2020: $9BLUV FY2021: $15.8BLUV FY2022: $23.8BLUV FY2023: $26.1BLUV FY2024: $27.5BLUV FY2025: $28.1BFY18FY19FY20FY21FY22FY23FY24FY25
JBLU $9.1BLUV $28.1B
Net income
JBLU FY2018: $189MJBLU FY2019: $569MJBLU FY2020: -$1.4BJBLU FY2021: -$182MJBLU FY2022: -$362MJBLU FY2023: -$310MJBLU FY2024: -$795MJBLU FY2025: -$602MLUV FY2018: $2.5BLUV FY2019: $2.3BLUV FY2020: -$3.1BLUV FY2021: $977MLUV FY2022: $539MLUV FY2023: $465MLUV FY2024: $465MLUV FY2025: $441MFY18FY19FY20FY21FY22FY23FY24FY25
JBLU -$602MLUV $441M
Net margin
JBLU FY2018: 2.5%JBLU FY2019: 7.0%JBLU FY2020: -45.8%JBLU FY2021: -3.0%JBLU FY2022: -4.0%JBLU FY2023: -3.2%JBLU FY2024: -8.6%JBLU FY2025: -6.6%LUV FY2018: 11.2%LUV FY2019: 10.3%LUV FY2020: -34.0%LUV FY2021: 6.2%LUV FY2022: 2.3%LUV FY2023: 1.8%LUV FY2024: 1.7%LUV FY2025: 1.6%FY18FY19FY20FY21FY22FY23FY24FY25
JBLU -6.6%LUV 1.6%
Revenue growth
JBLU FY2019: +5.7%JBLU FY2020: -63.5%JBLU FY2021: +104.2%JBLU FY2022: +51.7%JBLU FY2023: +5.0%JBLU FY2024: -3.5%JBLU FY2025: -2.3%LUV FY2019: +2.1%LUV FY2020: -59.7%LUV FY2021: +74.5%LUV FY2022: +50.8%LUV FY2023: +9.6%LUV FY2024: +5.3%LUV FY2025: +2.1%FY19FY20FY21FY22FY23FY24FY25
JBLU -2.3%LUV +2.1%
Free cash flow
JBLU FY2018: $292MJBLU FY2019: $517MJBLU FY2020: -$1.4BJBLU FY2021: $735MJBLU FY2022: -$388MJBLU FY2023: -$728MJBLU FY2024: -$1.3BJBLU FY2025: -$1.2BLUV FY2018: $3BLUV FY2019: $3BLUV FY2020: -$1.6BLUV FY2021: $1.8BLUV FY2022: -$134MLUV FY2023: -$356MLUV FY2024: -$1.6BLUV FY2025: -$831MFY18FY19FY20FY21FY22FY23FY24FY25
JBLU -$1.2BLUV -$831M

Fiscal years as each company reports them; the two may end in different months.

Questions about Jetblue Airways and Southwest Airlines

Which is bigger by revenue, Jetblue Airways or Southwest Airlines?

Southwest Airlines is bigger by revenue: $28.1B in fiscal 2025, against $9.1B for Jetblue Airways in fiscal 2025.

Which keeps more of its revenue as profit, Jetblue Airways or Southwest Airlines?

Jetblue Airways had a net margin of -6.6% in fiscal 2025; Southwest Airlines had 1.6% in fiscal 2025.

Which grew revenue faster, Jetblue Airways or Southwest Airlines?

In their latest fiscal years revenue changed by -2.3% at Jetblue Airways and +2.1% at Southwest Airlines.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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