Southwest Airlines
LUV stock analysis · Industrials · Passenger Airlines
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-04-22. Approximate; share and price dates can differ.
View share-count filing ↗DCF value
Requires positive annual FCF, usable shares and discount rate above terminal growth.
How this is calculated ↗Reverse DCF
No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.
How this is calculated ↗Relative valuation
76 sector peers · median 30.9×
How this is calculated ↗Historical multiples
6 annual observations · snapshot P/E 56.9× · 57.2% versus history
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete
How this is calculated ↗Value composite
Annual basis · read assumptions below
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Annual basis · read assumptions below
How this is calculated ↗Accrual quality
Parent-earnings fallback versus consolidated cash flow · scope limitation
How this is calculated ↗Fundamental momentum
Annual basis · read assumptions below
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | — | — | — |
| 10.0% | — | — | — |
| 12.0% | — | — | — |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 28.1B | 441M | 1.8B | 2.7B | 29.1B |
| 2024-12-31 | 27.5B | 465M | 462M | 2.1B | 33.8B |
| 2023-12-31 | 26.1B | 465M | 3.2B | 3.5B | 36.5B |
| 2022-12-31 | 23.8B | 539M | 3.8B | 3.9B | 35.4B |
| 2021-12-31 | 15.8B | 977M | 2.3B | 505M | 36.3B |
| 2020-12-31 | 9B | -3.1B | -1.1B | 515M | 34.6B |
| 2019-12-31 | 22.4B | 2.3B | 4B | 1B | 25.9B |
| 2018-12-31 | 22B | 2.5B | 4.9B | 1.9B | 26.2B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 28.1B | RevenueFromContractWithCustomerExcludingAssessedTax | 2026-02-05 |
| netIncome | 441M | NetIncomeLoss Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income. | 2026-02-05 |
| Parent/common earnings proxy | 442M | NetIncomeLossAvailableToCommonStockholdersBasic | 2026-02-05 |
| cfo | 1.8B | NetCashProvidedByUsedInOperatingActivities | 2026-02-05 |
| capex | 2.7B | PaymentsToAcquireProductiveAssets | 2026-02-05 |
| operatingIncome | 428M | OperatingIncomeLoss | 2026-02-05 |
| assets | 29.1B | Assets | 2026-02-05 |
| equity | 8B | StockholdersEquity Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income. | 2026-02-05 |
| Parent book equity proxy | 8B | StockholdersEquity | 2026-02-05 |
| debt | 4.9B | LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities | 2026-02-05 |
| shortDebt | — | Not reported under a supported tag | — |
| cash | 3.2B | CashAndCashEquivalentsAtCarryingValue | 2026-02-05 |
| shares | 558M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-05 |
| dividends | 399M | PaymentsOfDividends | 2026-02-05 |
| buybacks | 2.6B | PaymentsForRepurchaseOfCommonStock | 2026-02-05 |
| issuance | 59M | Reviewed manual correction Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from Employee stock plans: 59000000 USD [us-gaap:ProceedsFromStockPlans]. All 8 financing lines reconcile exactly to reported financing cash flow -4691000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: the statement also aggregates other financing cash flows (net -26000000 USD). Their common-equity portion is not separately disclosed here. Issuance is the sum of separately reported common cash-issuance lines, not an independently verified gross total; additional equity flows may be inside those aggregates. | 2026-02-05 |