Southwest Airlines (LUV) | Financial Analysis & Statements

Southwest Airlines Co. | Large-cap | Industrials

$33.81

-0.79%

Southwest Airlines vs Delta Air Lines Southwest Airlines vs United Airlines Southwest Airlines vs American Airlines Southwest Airlines vs Alaska Air Southwest Airlines vs Copa Holdings S.A Southwest Airlines vs S&P 500 | Market

Overview Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

Financial Overview

Latest Annual: 2024

Income Metrics

Revenue 27.5B

Gross Profit 4.5B 16.22%

Operating Income 321.0M 1.17%

Net Income 465.0M 1.69%

EPS (Diluted) $0.76

Balance Sheet Metrics

Total Assets 33.8B

Total Liabilities 23.4B

Shareholders Equity 10.4B

Debt to Equity 2.26

Cash Flow Metrics

Operating Cash Flow 1.9B

Free Cash Flow -1.6B

Revenue & Profitability Trend

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Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Southwest Airlines Income Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Revenue	27.5B	26.1B	23.8B	15.8B	9.0B
Cost of Goods Sold	23.0B	21.9B	19.1B	11.7B	10.9B
Gross Profit	4.5B	4.2B	4.8B	4.1B	-1.9B
Operating Expenses	4.1B	4.0B	3.7B	2.4B	1.9B
Operating Income	321.0M	224.0M	1.0B	1.7B	-3.8B
Pre-tax Income	598.0M	633.0M	728.0M	1.3B	-4.3B
Income Tax	133.0M	168.0M	189.0M	348.0M	-1.2B
Net Income	465.0M	465.0M	539.0M	977.0M	-3.1B
EPS (Diluted)	$0.76	$0.81	$0.87	$1.61	-$5.44

Income Statement Trend

Southwest Airlines Balance Sheet From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Assets
Current Assets	11.3B	14.0B	14.8B	18.0B	15.2B
Non-Current Assets	22.5B	22.5B	20.6B	18.3B	19.4B
Total Assets	33.8B	36.5B	35.4B	36.3B	34.6B
Liabilities
Current Liabilities	12.3B	12.3B	10.4B	9.2B	7.5B
Non-Current Liabilities	11.1B	13.7B	14.3B	16.7B	18.2B
Total Liabilities	23.4B	26.0B	24.7B	25.9B	25.7B
Equity
Total Shareholders Equity	10.4B	10.5B	10.7B	10.4B	8.9B

Balance Sheet Composition

Southwest Airlines Cash Flow Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Operating Activities
Net Income	465.0M	465.0M	539.0M	977.0M	-3.1B
Operating Cash Flow	1.9B	1.8B	2.6B	2.3B	-1.2B
Investing Activities
Capital Expenditures	845.0M	-33.0M	-22.0M	-6.0M	815.0M
Investing Cash Flow	1.8B	588.0M	178.0M	-759.0M	499.0M
Financing Activities
Dividends Paid	-430.0M	-428.0M	0	0	-188.0M
Financing Cash Flow	-2.0B	-484.0M	-3.1B	308.0M	4.9B
Free Cash Flow	-1.6B	-389.0M	-156.0M	1.8B	-1.6B

Cash Flow Trend

Southwest Airlines Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 35.82

Forward P/E 20.05

Price to Book 1.94

Price to Sales 0.66

PEG Ratio 20.05

Profitability Ratios

Profit Margin 1.98%

Operating Margin -2.51%

Return on Equity 5.59%

Return on Assets 0.93%

Financial Health

Current Ratio 0.77

Debt to Equity 85.37

Beta 1.23

Per Share Data

EPS (TTM) $0.89

Book Value per Share $16.43

Revenue per Share $46.38

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
luv	18.2B	35.82	1.94	5.59%	1.98%	85.37
Delta Air Lines	32.1B	8.72	2.06	27.52%	5.91%	151.36
United Airlines	25.8B	7.19	2.05	33.57%	6.34%	260.98
American Airlines	7.3B	11.06	-1.59	-21.27%	1.26%	-8.12
Alaska Air	5.8B	17.17	1.42	8.90%	2.86%	151.70
Copa Holdings S.A	4.2B	7.01	1.71	26.06%	17.64%	78.15

Financial data is updated regularly. All figures are in the company's reporting currency.