Southwest Airlines revenue and financials
$42.45Change from previous close: +1.43%Absolute change: +$0.60
In the fiscal year ended December 2025, Southwest Airlines reported revenue of $28.06B (+2.11% year over year). Net income was $441M, a net margin of 1.6%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +2.11%
- 2025 vs 2024
- Net income growth
- −5.16%
- 2025 vs 2024
- Net margin
- 1.6%
- 2024: 1.7%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | 30,122 | 29,355 | 29,061 | 28,312 | 28,712 | 33,212 | 33,750 | 34,847 | 35,563 | 36,018 | 36,487 | 36,980 |
| Current assets | 6,482 | 5,969 | 5,645 | 5,395 | 6,092 | 10,734 | 11,274 | 11,930 | 12,751 | 13,281 | 13,955 | 14,631 |
| Cash and equivalents | 3,791 | 3,328 | 3,231 | 2,902 | 3,475 | 8,134 | 7,509 | 8,503 | 8,142 | 8,367 | 9,288 | 9,497 |
| Short-term investments | — | — | 0.0 | 116 | 364 | 118 | 1,216 | 879 | 1,860 | 2,145 | 2,186 | 2,236 |
| Receivables | 1,218 | 1,254 | 1,149 | 1,118 | 1,013 | 1,078 | 1,109 | 1,176 | 1,340 | 1,346 | 1,142 | 1,422 |
| Inventory | 917 | 833 | 775 | 792 | 773 | 786 | 800 | 770 | 784 | 812 | 807 | 799 |
| Net property, plant and equipment | 20,979 | 20,901 | 20,933 | 20,472 | 20,423 | 20,116 | 20,012 | 20,446 | 20,331 | 20,348 | 20,362 | 20,018 |
| Goodwill | 970 | 970 | 970 | 970 | 970 | 970 | 970 | 970 | 970 | 970 | 970 | 970 |
| Other intangible assets | 296 | 296 | 296 | 295 | 295 | 299 | 300 | 300 | 300 | 295 | 296 | 296 |
| Long-term investments | 393 | 348 | 457 | 433 | 394 | 352 | 367 | 354 | 302 | 286 | 280 | 272 |
| Current liabilities | 13,268 | 12,484 | 10,921 | 10,994 | 10,892 | 13,901 | 12,276 | 13,489 | 14,113 | 12,225 | 12,256 | 12,112 |
| Accounts payable | 2,072 | 2,114 | 1,991 | 1,708 | 1,811 | 1,925 | 1,818 | 1,518 | 2,028 | 1,949 | 1,862 | 1,736 |
| Long-term debt | 3,790 | 4,536 | 4,524 | 4,079 | 4,081 | 4,086 | 5,000 | 5,075 | 5,065 | 7,974 | 7,903 | 7,984 |
| Total debt | 6,889 | 6,396 | 5,981 | 5,258 | 5,341 | — | — | — | — | — | — | — |
| Total liabilities | 23,040 | 22,480 | 21,080 | 20,536 | 20,712 | 23,847 | 23,400 | 24,436 | 25,098 | 25,822 | 25,972 | 25,926 |
| Total equity (incl. minority) | 7,082 | 6,875 | 7,981 | 7,776 | 8,000 | 9,365 | 10,350 | 10,411 | 10,465 | 10,196 | 10,515 | 11,054 |
| Retained earnings | 16,672 | 16,526 | 16,388 | 16,158 | 16,199 | 16,080 | 16,332 | 16,178 | 16,218 | 15,959 | 16,297 | 16,657 |