Industrials · Passenger Airlines
Southwest Airlines: revenue, profit and dividends
In fiscal 2025, Southwest Airlines had revenue of $28.1B, up 3.5% a year on average since 2015, and net income of $441M (1.6% of revenue). It paid a dividend of $0.72 a share. It has 17% fewer shares than in 2015.
Revenue, fiscal 2025
average annual revenue growth since 2015 · +2.1% vs 2024
- Ticker
- LUV · NYSE
- Sector
- Industrials
- Sub-industry
- Passenger Airlines
- Headquarters
- Dallas, Texas
- Founded
- 1967
- In the S&P 500 since
- July 1, 1994
- Latest fiscal year
- 2025, ended December 31, 2025
- SEC filer
- Southwest Airlines Co · CIK 0000092380
Revenue and net income
Revenue went from $9.86B in 2007 to $28.1B in 2025. Net loss in 2020.
Diluted earnings per share
Diluted EPS went from $0.84 in 2007 to $0.79 in 2025. Ten-year growth: −13.2% a year.
Dividends per share
Not raised in 2025. Ten-year growth: 9.7% a year.
Shares outstanding
16.6% fewer shares in 2025 than in 2015 (669M → 558M): buybacks outweighed new shares.
Operating cash flow, capex and free cash flow
Free cash flow (operating cash flow minus capital expenditure) was −$831M in 2025, −3.0% of revenue. Negative in 2008, 2020, 2022–2025.
The chart data could not be loaded. The table below has the same figures.
Year by year
| Fiscal year | Revenue | Net income | Net margin | Diluted EPS | Dividend | Shares | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $28.1B | $441M | 1.6% | $0.79 | $0.72 | 558M | $1.84B | $2.67B | −$831M |
| 2024 | $27.5B | $465M | 1.7% | $0.76 | $0.72 | 643M | $462M | $2.05B | −$1.59B |
| 2023 | $26.1B | $465M | 1.8% | $0.76 | $0.72 | 640M | $3.16B | $3.52B | −$356M |
| 2022 | $23.8B | $539M | 2.3% | $0.87 | $0.18 | 642M | $3.79B | $3.92B | −$134M |
| 2021 | $15.8B | $977M | 6.2% | $1.61 | — | 609M | $2.32B | $505M | $1.82B |
| 2020 | $9.05B | −$3.07B | −34.0% | −$5.44 | $0.18 | 565M | −$1.13B | $515M | −$1.64B |
| 2019 | $22.4B | $2.3B | 10.3% | $4.27 | $0.70 | 539M | $3.99B | $1.03B | $2.96B |
| 2018 | $22B | $2.46B | 11.2% | $4.29 | $0.60 | 574M | $4.89B | $1.92B | $2.97B |
| 2017 | $21.1B | $3.36B | 15.9% | $5.57 | $0.47 | 603M | $3.93B | $2.12B | $1.81B |
| 2016 | $20.3B | $2.18B | 10.8% | $3.45 | $0.38 | 633M | $4.29B | $2.04B | $2.25B |
| 2015 | $19.8B | $2.18B | 11.0% | $3.27 | $0.28 | 669M | $3.24B | $2.04B | $1.2B |
| 2014 | $18.6B | $1.14B | 6.1% | $1.64 | $0.22 | 696M | $2.9B | $1.75B | $1.15B |
| 2013 | $17.7B | $754M | 4.3% | $1.05 | $0.13 | 718M | $2.48B | $1.43B | $1.04B |
| 2012 | $17.1B | $421M | 2.5% | $0.56 | $0.03 | 757M | $2.06B | $1.35B | $716M |
| 2011 | $15.7B | $178M | 1.1% | $0.23 | $0.02 | 775M | $1.36B | $968M | $388M |
| 2010 | $12.1B | $459M | 3.8% | $0.61 | $0.02 | 747M | $1.56B | $493M | $1.07B |
| 2009 | $10.3B | $99M | 1.0% | $0.13 | $0.02 | 741M | $985M | $585M | $400M |
| 2008 | $11B | $178M | 1.6% | $0.24 | $0.02 | — | −$1.52B | −$923M | −$598M |
| 2007 | $9.86B | $645M | 6.5% | $0.84 | $0.07 | — | $2.85B | $1.33B | $1.51B |
Fiscal years, labelled by the year in which they end. US dollars; per-share figures and share counts adjusted for splits. —: not in the data.
About these figures
- Older years are as filed at the time and may predate later restatements, mergers or spin-offs. How the figures are made.
Other Passenger Airlines companies
Source: SEC EDGAR (company filings), data as of November 8, 2026. Sectors, sub-industries, headquarters and index dates: Wikipedia, CC BY-SA 4.0.