Southwest Airlines Income Statement

LUV / Industrials|15 years of annual SEC 10-K data (FY2011-FY2025)

Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.

Southwest Airlines reported $28.1B in revenue and $441M in net income for FY2025. Revenue has grown at a 7.4% compound annual rate over the past 14 years.

Based on SEC 10-K filings.

Key Data Points

High earnings quality (cash-backed earnings)

Data sourced from SEC EDGAR filings. Not investment advice.

Item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011
Revenue	$28.1B	$27.5B	$26.1B	$23.8B	$22.4B	$22.0B	$5.1B	$4.9B	$4.9B	$20.4B	$19.8B	$18.6B	$17.7B	$12.1B	$10.3B
Operating Income	$428.0M	$321.0M	$224.0M	$1.0B	$3.0B	$3.2B	$3.4B	$3.5B	$3.4B	$3.5B	$4.1B	$2.2B	$1.3B	$988.0M	$262.0M
Interest Expense	-	-	-	-	-	-	$114.0M	$122.0M	$114.0M	$122.0M	$121.0M	$130.0M	$131.0M	$167.0M	$186.0M
Income Tax	$122.0M	$133.0M	$168.0M	$189.0M	$657.0M	$699.0M	-$92.0M	$1.3B	-$92.0M	$1.3B	$1.3B	$680.0M	$455.0M	$286.0M	$65.0M
Net Income	$441.0M	$465.0M	$465.0M	$539.0M	$2.3B	$2.5B	$3.4B	$2.2B	$3.4B	$2.2B	$2.2B	$1.1B	$754.0M	$459.0M	$99.0M
EPS (Basic)	$0.78	$0.91	$1.65	-$5.44	$4.28	$4.30	$5.58	$3.48	$3.30	$1.65	$1.06	$0.56	$0.23	$0.62	$0.13
EPS (Diluted)	$0.76	$0.87	$1.61	-$5.44	$4.27	$4.29	$5.57	$3.45	$3.27	$1.64	$1.05	$0.56	$0.23	$0.61	$0.13
Shares Outstanding	640.0M	642.0M	609.0M	565.0M	539.0M	574.0M	603.0M	633.0M	669.0M	696.0M	718.0M	757.0M	775.0M	747.0M	741.0M
Operating Margin	1.5%	1.2%	0.9%	4.3%	13.2%	14.6%	66.2%	71.2%	69.8%	17.2%	20.8%	12.0%	7.2%	8.2%	2.5%
Profit Margin	1.6%	1.7%	1.8%	2.3%	10.3%	11.2%	65.2%	44.1%	68.8%	10.7%	11.0%	6.1%	4.3%	3.8%	1.0%

Other Financial Statements

Balance Sheet Cash Flow Statement All Financial Data

Scores & Analysis

Piotroski F-Score Altman Z-Score Financial Ratios

Southwest Airlines Profile All Financial Data

Item

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

FY2017

FY2016

FY2015

FY2014

FY2013

FY2012

FY2011

Revenue

$28.1B

$27.5B

$26.1B

$23.8B

$22.4B

$22.0B

$5.1B

$4.9B

$20.4B

$19.8B

$18.6B

$17.7B

$12.1B

$10.3B

Operating Income

$428.0M

$321.0M

$224.0M

$1.0B

$3.0B

$3.2B

$3.4B

$3.5B

$3.4B

$3.5B

$4.1B

$2.2B

$1.3B

$988.0M

$262.0M

Interest Expense

$114.0M

$122.0M

$114.0M

$122.0M

$121.0M

$130.0M

$131.0M

$167.0M

$186.0M

Income Tax

$122.0M

$133.0M

$168.0M

$189.0M

$657.0M

$699.0M

-$92.0M

$1.3B

-$92.0M

$1.3B

$680.0M

$455.0M

$286.0M

$65.0M

Net Income

$441.0M

$465.0M

$539.0M

$2.3B

$2.5B

$3.4B

$2.2B

$3.4B

$2.2B

$1.1B

$754.0M

$459.0M

$99.0M

EPS (Basic)

$0.78

$0.91

$1.65

-$5.44

$4.28

$4.30

$5.58

$3.48

$3.30

$1.65

$1.06

$0.56

$0.23

$0.62

$0.13

EPS (Diluted)

$0.76

$0.87

$1.61

-$5.44

$4.27

$4.29

$5.57

$3.45

$3.27

$1.64

$1.05

$0.56

$0.23

$0.61

$0.13

Shares Outstanding

640.0M

642.0M

609.0M

565.0M

539.0M

574.0M

603.0M

633.0M

669.0M

696.0M

718.0M

757.0M

775.0M

747.0M

741.0M

Operating Margin

1.5%

1.2%

0.9%

4.3%

13.2%

14.6%

66.2%

71.2%

69.8%

17.2%

20.8%

12.0%

7.2%

8.2%

2.5%

Profit Margin

1.6%

1.7%

1.8%

2.3%

10.3%

11.2%

65.2%

44.1%

68.8%

10.7%

11.0%

6.1%

4.3%

3.8%

1.0%