Southwest Airlines Company — LUV
| Close Price | Market Cap | P/E Ratio | Forward P/E Ratio | Implied Growth* | Implied Forward Growth* | Dividend | P/B Ratio |
|---|---|---|---|---|---|---|---|
| $32.45 | $16.78B | 51.5 | 20.4 | 21.9% | 11.5% | $0.72 2.2% | 2.2 |
Revenue & Net Income
| Date | Revenue | Net Income | EPS | Revenue Change | Net Income Change | EPS Change | |
|---|---|---|---|---|---|---|---|
| 0 | 2020-12-31 | $9.0B | $-3.1B | $-5.44 | N/A | N/A | N/A |
| 1 | 2021-12-31 | $15.8B | $977.0M | $1.65 | 74.5% | -131.8% | -130.3% |
| 2 | 2022-12-31 | $23.8B | $539.0M | $0.91 | 50.8% | -44.8% | -44.8% |
| 3 | 2023-12-31 | $26.1B | $465.0M | $0.78 | 9.6% | -13.7% | -14.3% |
| 4 | 2024-12-31 | $27.5B | $465.0M | $0.78 | 5.3% | 0.0% | 0.0% |
| 5 | TTM 2025-03-31 | $27.6B | $546.0M | $0.89 | 0.4% | 17.4% | 14.1% |
| 6 | Average | 28.1% | -34.6% | -35.1% |
EPS
Forecasts
Y/Y % Change
LUV Year-over-Year Growth
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Average | |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth (%) | 74.5% | 50.8% | 9.6% | 5.3% | 2.7% | 8.6% | 25.2% | |
| Revenue Analysts (#) | 0 | 0 | 0 | 0 | 0 | 6 | 6 | |
| EPS Growth (%) | -131.8% | -44.8% | -13.7% | 0.0% | 23.4% | 148.6% | -3.1% | |
| EPS Analysts (#) | 0 | 0 | 0 | 0 | 0 | 7 | 7 |
Expenses
| Year | Revenue ($) | Cost of Revenue ($) | Facilities / D&A ($) |
|---|---|---|---|
| 2021 | $15.8B | $10.4B | $1.3B |
| 2022 | $23.8B | $17.7B | $1.4B |
| 2023 | $26.1B | $20.3B | $1.5B |
| 2024 | $27.5B | $21.4B | $1.7B |
| TTM | $27.5B | $21.3B | $1.6B |
| Year | Revenue Change (%) | Cost of Revenue Change (%) | Facilities / D&A Change (%) |
|---|---|---|---|
| 2022 | 50.82 | 70.25 | 6.21 |
| 2023 | 9.56 | 14.88 | 12.66 |
| 2024 | 5.34 | 5.02 | 8.87 |
| TTM | -0.04 | -0.50 | -0.97 |
No unmapped expenses.
Segment Performance
SEGMENTS v2025-09-09 · 2025-11-10 08:25 UTC — Units: $B. Rows list fiscal years (last 3 + TTM) with revenue and operating income for each segment; the final row shows the TTM revenue mix (operating income columns display “—” where mix is not applicable).
| Year | Passenger Rev | Passenger OI | Passenger Revenue Non Loyalty Rev | Passenger Revenue Non Loyalty OI | Passenger Loyalty Air Transportation Rev | Passenger Loyalty Air Transportation OI | Product And Service Other Rev | Product And Service Other OI | Other Revenue Rev | Other Revenue OI | Passenger Ancillary Sold Separately Rev | Passenger Ancillary Sold Separately OI | Cargo And Freight Rev | Cargo And Freight OI | Total Rev | Total OI |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 42.8B | 0.00B | 17.6B | 0.00B | 3.03B | 0.00B | 2.23B | 0.00B | 2.10B | 0.00B | 0.73B | 0.00B | 0.18B | 0.00B | 68.7B | 0.00B |
| 2023 | 47.3B | 0.00B | 19.1B | 0.00B | 3.64B | 0.00B | 2.28B | 0.00B | 2.10B | 0.00B | 0.93B | 0.00B | 0.17B | 0.00B | 75.5B | 0.00B |
| 2024 | 50B | 0.00B | 20.5B | 0.00B | 3.48B | 0.00B | 2.33B | 0.00B | 2.20B | 0.00B | 1.03B | 0.00B | 0.17B | 0.00B | 79.6B | 0.00B |
| TTM | 50.2B | 0.00B | 20.1B | 0.00B | 3.28B | 0.00B | 2.34B | 0.00B | 2.20B | 0.00B | 1.78B | 0.00B | 0.17B | 0.00B | 80.1B | 0.00B |
| % of Total (TTM) | 62.7% | — | 25.1% | — | 4.1% | — | 2.9% | — | 2.7% | — | 2.2% | — | 0.2% | — | 100% | — |
No segment data available for LUV (axis 2).
Balance Sheet
| Metric | Value | |
|---|---|---|
| 0 | Total Assets | $28,712M |
| 1 | Cash | $3,475M |
| 2 | Total Liabilities | $20,712M |
| 3 | Total Debt | $5,341M |
| 4 | Total Equity | $8,000M |
| 5 | Debt to Equity Ratio | 0.67 |
EPS & Dividend
Valuation
| Share Price | Treasury Yield | Estimates | Fair Value (P/E) | Fair Value (P/S) | Current P/S | Current P/E |
|---|---|---|---|---|---|---|
| $31.39 | 4.4% | Nicks Growth: 3% Nick's Expected Margin: 2% FINVIZ Growth: 53% |
Nicks: 9 Finviz: 522 |
Nick's: 0.174 | 0.6 | 35.3 |
| Basis | Year | Nicks Valuation | Nicks vs Share Price | Finviz Valuation | Finviz vs Share Price |
|---|---|---|---|---|---|
| $0.89 EPS | TTM | $7.75 | -75.3% | $464.93 | 1381.1% |
| $1.17 EPS | 2025 | $10.19 | -67.5% | $611.20 | 1847.1% |
| $2.54 EPS | 2026 | $22.12 | -29.5% | $1,326.87 | 4127.0% |
Implied Growth
| Average | Median | Std Dev | Current | Percentile | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TTM | Forward | TTM | Forward | TTM | Forward | TTM | Forward | TTM | Forward | |
| Timeframe | ||||||||||
| 1 Year | 20.98% | 11.58% | 21.38% | 11.44% | 1.18% | 0.71% | 21.90% | 11.49% | 82.4% | 51.9% |
| 3 Years | 20.98% | 11.58% | 21.38% | 11.44% | 1.18% | 0.71% | 21.90% | 11.49% | 82.4% | 51.9% |
| 5 Years | 20.98% | 11.58% | 21.38% | 11.44% | 1.18% | 0.71% | 21.90% | 11.49% | 82.4% | 51.9% |
| 10 Years | 20.98% | 11.58% | 21.38% | 11.44% | 1.18% | 0.71% | 21.90% | 11.49% | 82.4% | 51.9% |