To the full analysis
Southwest Airlines stock: growth
LUVSouthwest Airlines reported $28.06B in revenue for fiscal 2025, up 2.1% on the prior year, up 25.4% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
6.1%
per year from 2006 to 2025, per share 8.3%
Earnings (Annual rate)
−0.6%
per year from 2006 to 2025, per share 1.4%
Free cash flow (Annual rate)
no data
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | 25.4% | 3.5% | 6.1% |
| Revenue per share | 26.5% | 5.7% | 8.3% |
| Earnings | no data | −14.8% | −0.6% |
| Earnings per share | no data | −13.0% | 1.4% |
| Free cash flow | no data | no data | no data |
| Free cash flow per share | no data | no data | no data |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $9.09B | $499M | $7M |
| 2007 | $9.86B | $645M | $1.51B |
| 2008 | $11.02B | $178M | −$2.44B |
| 2009 | $10.35B | $99M | $400M |
| 2010 | $12.1B | $459M | $1.07B |
| 2011 | $15.66B | $178M | $417M |
| 2012 | $17.09B | $421M | $716M |
| 2013 | $17.7B | $754M | $1.04B |
| 2014 | $18.61B | $1.14B | $1.07B |
| 2015 | $19.82B | $2.18B | $1.1B |
| 2016 | $20.43B | $2.24B | $2.15B |
| 2017 | $21.17B | $3.49B | $1.68B |
| 2018 | $21.97B | $2.47B | $2.92B |
| 2019 | $22.43B | $2.3B | $2.96B |
| 2020 | $9.05B | −$3.07B | −$1.64B |
| 2021 | $15.79B | $977M | $1.81B |
| 2022 | $23.81B | $539M | −$156M |
| 2023 | $26.09B | $465M | −$356M |
| 2024 | $27.48B | $465M | −$1.62B |
| 2025 | $28.06B | $441M | −$831M |
Revenue by segment
How Southwest Airlines Co. makes its money and how that has shifted. Names are as the company reports them.
- Passenger91%
- Product and Service, Other8%
- Other< 1%
“Other” combines smaller and former segments with revenue the company does not assign to a segment. Names as reported, with abbreviations spelled out for the largest companies.
Figures as a table
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Passenger | $20.46B | $20.78B | $7.67B | $14.07B | $21.41B | $23.64B | $24.98B | $25.54B | 91% |
| Product and Service, Other | $1.34B | $1.48B | $1.22B | $1.54B | $2.23B | $2.28B | $2.33B | $2.36B | 8.4% |
| Other | $0 | $0 | $161M | $187M | $0 | $0 | $0 | $0 | 0% |
| Total revenue | $21.97B | $22.43B | $9.05B | $15.79B | $23.81B | $26.09B | $27.48B | $28.06B | 100% |
Revenue by region
Where Southwest Airlines Co. generates its revenue.
- North America97%
- Latin America3%
- Other< 1%
“Other” combines smaller regions with revenue the company does not assign to a region.
Figures as a table
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| North America | $21.4B | $21.8B | $8.9B | $15.3B | $23B | $25B | $26.7B | $27.3B | 97.3% |
| Latin America | $566M | $615M | $184M | $475M | $811M | $828M | $798M | $756M | 2.7% |
| Other | $0 | $0 | $0 | $0 | $0 | $263M | $0 | $0 | 0% |
| Total revenue | $21.97B | $22.43B | $9.05B | $15.79B | $23.81B | $26.09B | $27.48B | $28.06B | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 3 Apr 2026)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.