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Southwest Airlines Co. LUV

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44.48 USD -1.95 (-4.19%)

Nov 5, 2026, 10:42 AM EST

44.23 Day range 46.82
31.16 52-week range 54.80
YTD
+7.61%
1 year
+40.65%

Financial health

Altman Z-Score

2.27 Grey zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

7 / 9 Strong

Nine pass/fail tests of profitability, leverage and efficiency.

FMP rating

B-3 / 5 overall

  • DCF 1
  • Return on Equity 4
  • Return on Assets 3
  • Debt / Equity 2
  • P/E 3
  • P/B 2

Valuation

P/E 50.4×
FY 2016: 13.9×FY 2017: 11.3×FY 2018: 10.8×FY 2019: 12.6×FY 2020: -8.6×FY 2021: 26.0×FY 2022: 37.0×FY 2023: 35.7×FY 2024: 41.5×FY 2025: 50.4×
FY 2016 5y median 37.0× FY 2025
P/S 0.8×
FY 2016: 1.5×FY 2017: 1.9×FY 2018: 1.2×FY 2019: 1.3×FY 2020: 2.9×FY 2021: 1.6×FY 2022: 0.8×FY 2023: 0.7×FY 2024: 0.7×FY 2025: 0.8×
FY 2016 5y median 0.8× FY 2025
P/B 2.8×
FY 2016: 3.7×FY 2017: 3.8×FY 2018: 2.7×FY 2019: 3.0×FY 2020: 3.0×FY 2021: 2.4×FY 2022: 1.9×FY 2023: 1.6×FY 2024: 1.9×FY 2025: 2.8×
FY 2016 5y median 1.9× FY 2025
P/FCF -26.9×
FY 2016: 14.6×FY 2017: 23.4×FY 2018: 9.1×FY 2019: 9.8×FY 2020: -16.0×FY 2021: 14.0×FY 2022: -128×FY 2023: -48.3×FY 2024: -12.4×FY 2025: -26.9×
FY 2016 5y median -26.9× FY 2025
EV/EBITDA 11.4×
FY 2016: 6.9×FY 2017: 9.1×FY 2018: 6.3×FY 2019: 7.2×FY 2020: -10.2×FY 2021: 8.3×FY 2022: 8.4×FY 2023: 7.1×FY 2024: 8.4×FY 2025: 11.4×
FY 2016 5y median 8.4× FY 2025
EV/Sales 0.9×
FY 2016: 1.6×FY 2017: 2.0×FY 2018: 1.3×FY 2019: 1.4×FY 2020: 3.0×FY 2021: 1.6×FY 2022: 0.8×FY 2023: 0.7×FY 2024: 0.8×FY 2025: 0.9×
FY 2016 5y median 0.8× FY 2025
FCF Yield -3.7%
FY 2016: 6.9%FY 2017: 4.3%FY 2018: 11.0%FY 2019: 10.2%FY 2020: -6.2%FY 2021: 7.1%FY 2022: -0.8%FY 2023: -2.1%FY 2024: -8.0%FY 2025: -3.7%
FY 2016 5y median -2.1% FY 2025

Profitability

Gross Margin 17.4%
FY 2016: 30.5%FY 2017: 29.5%FY 2018: 27.6%FY 2019: 26.7%FY 2020: -20.9%FY 2021: 26.1%FY 2022: 20.0%FY 2023: 16.2%FY 2024: 16.2%FY 2025: 17.4%
FY 2016 5y median 17.4% FY 2025
Operating Margin 1.5%
FY 2016: 17.2%FY 2017: 16.1%FY 2018: 14.6%FY 2019: 13.2%FY 2020: -42.2%FY 2021: 10.9%FY 2022: 4.3%FY 2023: 0.9%FY 2024: 1.2%FY 2025: 1.5%
FY 2016 5y median 1.5% FY 2025
Net Margin 1.6%
FY 2016: 11.0%FY 2017: 16.5%FY 2018: 11.2%FY 2019: 10.3%FY 2020: -34.0%FY 2021: 6.2%FY 2022: 2.3%FY 2023: 1.8%FY 2024: 1.7%FY 2025: 1.6%
FY 2016 5y median 1.8% FY 2025
ROE 5.5%
FY 2016: 26.6%FY 2017: 33.4%FY 2018: 25.0%FY 2019: 23.4%FY 2020: -34.6%FY 2021: 9.4%FY 2022: 5.0%FY 2023: 4.4%FY 2024: 4.5%FY 2025: 5.5%
FY 2016 5y median 5.0% FY 2025
ROIC 1.8%
FY 2016: 13.1%FY 2017: 18.4%FY 2018: 13.2%FY 2019: 12.7%FY 2020: -10.0%FY 2021: 4.6%FY 2022: 3.0%FY 2023: 0.7%FY 2024: 1.1%FY 2025: 1.8%
FY 2016 5y median 1.8% FY 2025
ROA 1.5%
FY 2016: 9.6%FY 2017: 13.9%FY 2018: 9.4%FY 2019: 8.9%FY 2020: -8.9%FY 2021: 2.7%FY 2022: 1.5%FY 2023: 1.3%FY 2024: 1.4%FY 2025: 1.5%
FY 2016 5y median 1.5% FY 2025

Growth (YoY)

Revenue 2.1%
FY 2016: 3.1%FY 2017: 3.7%FY 2018: 3.8%FY 2019: 2.1%FY 2020: -59.7%FY 2021: 74.5%FY 2022: 50.8%FY 2023: 9.6%FY 2024: 5.3%FY 2025: 2.1%
FY 2016 FY 2025
Operating Income 33.3%
FY 2016: -14.4%FY 2017: -3.3%FY 2018: -5.9%FY 2019: -7.8%FY 2020: -229.0%FY 2021: 145.1%FY 2022: -40.9%FY 2023: -78.0%FY 2024: 43.3%FY 2025: 33.3%
FY 2016 FY 2025
EPS (diluted) 5.3%
FY 2016: 8.9%FY 2017: 62.8%FY 2018: -25.8%FY 2019: -0.5%FY 2020: -227.4%FY 2021: 129.6%FY 2022: -46.0%FY 2023: -12.6%FY 2024: -1.3%FY 2025: 5.3%
FY 2016 FY 2025
Free Cash Flow 48.6%
FY 2016: 96.0%FY 2017: -21.7%FY 2018: 73.6%FY 2019: 1.5%FY 2020: -155.5%FY 2021: 210.3%FY 2022: -108.6%FY 2023: -128.2%FY 2024: -354.5%FY 2025: 48.6%
FY 2016 FY 2025

Financial Health

Current Ratio 0.5×
FY 2016: 0.7×FY 2017: 0.7×FY 2018: 0.6×FY 2019: 0.7×FY 2020: 2.0×FY 2021: 2.0×FY 2022: 1.4×FY 2023: 1.1×FY 2024: 0.9×FY 2025: 0.5×
FY 2016 5y median 1.1× FY 2025
Quick Ratio 0.4×
FY 2016: 0.6×FY 2017: 0.6×FY 2018: 0.6×FY 2019: 0.6×FY 2020: 2.0×FY 2021: 1.9×FY 2022: 1.4×FY 2023: 1.1×FY 2024: 0.9×FY 2025: 0.4×
FY 2016 5y median 1.1× FY 2025
Debt / Equity 0.7×
FY 2016: 0.4×FY 2017: 0.4×FY 2018: 0.3×FY 2019: 0.4×FY 2020: 1.4×FY 2021: 1.2×FY 2022: 0.9×FY 2023: 0.9×FY 2024: 0.8×FY 2025: 0.7×
FY 2016 5y median 0.9× FY 2025
Net Debt / EBITDA 1.4×
FY 2016: 0.4×FY 2017: 0.5×FY 2018: 0.3×FY 2019: 0.3×FY 2020: -0.4×FY 2021: -0.1×FY 2022: -0.0×FY 2023: -0.0×FY 2024: 0.2×FY 2025: 1.4×
FY 2016 5y median -0.0× FY 2025
Interest Coverage 3.8×
FY 2016: 47.0×FY 2017: 52.4×FY 2018: 34.5×FY 2019: 36.1×FY 2020: -12.2×FY 2021: 4.0×FY 2022: 3.4×FY 2023: 0.9×FY 2024: 1.5×FY 2025: 3.8×
FY 2016 5y median 3.4× FY 2025

Dividends

Dividend Yield 1.8%
FY 2016: 0.7%FY 2017: 0.7%FY 2018: 1.2%FY 2019: 1.3%FY 2020: 0.7%FY 2021: 0.0%FY 2022: 0.0%FY 2023: 2.5%FY 2024: 2.1%FY 2025: 1.8%
FY 2016 5y median 1.8% FY 2025
Payout Ratio 90.5%
FY 2016: 9.9%FY 2017: 7.9%FY 2018: 13.5%FY 2019: 16.2%FY 2020: -6.1%FY 2021: 0.0%FY 2022: 0.0%FY 2023: 92.0%FY 2024: 92.5%FY 2025: 90.5%
FY 2016 5y median 90.5% FY 2025

Annual · latest fiscal year ends 2025-12-31