LUV - SOUTHWEST AIRLINES CO

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Revenue Growth YoY (%)	2.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-58%)	5.3% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+7%)	9.6% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+91%)	50.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+916%)	74.5% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1390%)	-59.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1293%)	2.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-58%)	3.8% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-25%)	3.7% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-27%)	3.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-39%)	6.5% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+31%)	5.1% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	3.6% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-28%)	9.1% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+83%)	29.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+487%)	16.9% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+239%)	-6.1% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-222%)	11.8% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+136%)	—	—
EPS Growth YoY (%)	5.1% Fair ↑ Fair Improving Year-over-year change in earnings per share Optimal: > 10%	0.0% Caution ↑ Caution Improving Year-over-year change in earnings per share Optimal: > 10%	-14.3% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-44.8% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	-0.5% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-25.9% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	62.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	8.5% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	100.0% Excellent → Excellent Stable Year-over-year change in earnings per share Optimal: > 10%	55.7% Excellent → Excellent Stable Year-over-year change in earnings per share Optimal: > 10%	89.3% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	143.5% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-62.9% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	376.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-45.8% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-71.8% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	-5.2% Weak ↑ Weak Improving Year-over-year change in net income	0.0% Caution ↑ Caution Improving Year-over-year change in net income	-13.7% Weak Weak Year-over-year change in net income	-44.8% Weak Weak Year-over-year change in net income	N/M	N/M	-6.7% Weak ↓ Weak Declining Year-over-year change in net income	-29.3% Weak ↓ Weak Declining Year-over-year change in net income	55.4% Excellent ↑ Excellent Improving Year-over-year change in net income	2.9% Caution ↓ Caution Declining Year-over-year change in net income	92.0% Excellent → Excellent Stable Year-over-year change in net income	50.7% Excellent → Excellent Stable Year-over-year change in net income	79.1% Excellent ↓ Excellent Declining Year-over-year change in net income	136.5% Excellent ↑ Excellent Improving Year-over-year change in net income	-61.2% Weak ↓ Weak Declining Year-over-year change in net income	363.6% Excellent ↑ Excellent Improving Year-over-year change in net income	-44.4% Weak Weak Year-over-year change in net income	-72.4% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	341.5% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-85.5% Weak ↓ Weak Declining Year-over-year change in free cash flow	-16.8% Weak Weak Year-over-year change in free cash flow	62.9% Excellent Excellent Year-over-year change in free cash flow	N/M	N/M	-13.2% Weak ↓ Weak Declining Year-over-year change in free cash flow	30.6% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-4.5% Weak ↓ Weak Declining Year-over-year change in free cash flow	39.8% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	16.0% Good ↓ Good Declining Year-over-year change in free cash flow	21.1% Good ↓ Good Declining Year-over-year change in free cash flow	265.4% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	90.4% Excellent Excellent Year-over-year change in free cash flow	-65.0% Weak Weak Year-over-year change in free cash flow	—	—	—	—	—
Revenue CAGR 3Y (%)	5.6% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	20.3% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	42.3% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	2.0% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	-10.4% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-24.7% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	3.2% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	3.5% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	4.4% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	4.9% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	5.1% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	5.9% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	13.5% Good ↑ Good Improving Compound annual revenue growth over 3 years	18.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	12.4% Good Good Compound annual revenue growth over 3 years	7.1% Fair Fair Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	25.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	4.1% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	3.5% Caution ↑ Caution Improving Compound annual revenue growth over 5 years	2.4% Caution ↑ Caution Improving Compound annual revenue growth over 5 years	-5.0% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-14.5% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	3.8% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	4.4% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	4.4% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	5.5% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	10.4% Good ↓ Good Declining Compound annual revenue growth over 5 years	12.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	9.9% Good Good Compound annual revenue growth over 5 years	11.6% Good Good Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	-3.4% Weak ↑ Weak Improving Compound annual EPS growth over 3 years	-22.1% Weak ↑ Weak Improving Compound annual EPS growth over 3 years	—	-40.3% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-27.3% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	—	6.1% Fair ↓ Fair Declining Compound annual EPS growth over 3 years	9.2% Fair ↓ Fair Declining Compound annual EPS growth over 3 years	52.0% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	50.0% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	80.6% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	92.9% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	19.6% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	62.7% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	-1.4% Weak Weak Compound annual EPS growth over 3 years	-10.0% Weak Weak Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Operating Margin (%) (%)	1.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-87%)	1.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-90%)	0.9% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-93%)	4.3% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-64%)	10.9% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-9%)	-42.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-451%)	13.2% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+10%)	14.6% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+22%)	16.6% Fair → Fair Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+38%)	18.4% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+53%)	20.8% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+73%)	12.0% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	7.2% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-40%)	3.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-70%)	4.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-63%)	8.2% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-32%)	2.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-79%)	4.1% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-66%)	8.0% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-33%)	—
Effective Tax Rate (%) (%)	21.7% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	22.2% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	26.5% Caution → Caution Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	26.0% Caution → Caution Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	26.3% Caution Caution Actual taxes paid relative to pre-tax income Optimal: 15-25%	27.8% Caution Caution Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	1.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-80%)	1.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-79%)	1.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-78%)	2.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-72%)	6.2% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-23%)	-34.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-525%)	10.3% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+28%)	11.2% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+40%)	16.5% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+106%)	11.0% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+37%)	11.0% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+38%)	6.1% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-24%)	4.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-47%)	2.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-69%)	1.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-86%)	3.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-53%)	1.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-88%)	1.6% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-80%)	6.5% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-18%)	—
FCF Margin (%) (%)	6.6% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	1.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	12.1% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	15.9% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	14.7% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	-12.5% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	17.8% Good ↓ Good Declining Free cash flow as a percentage of revenue Optimal: > 10%	22.3% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	18.6% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	21.0% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	16.3% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	15.6% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	14.0% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	4.2% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	2.5% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	8.8% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	3.9% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-22.2% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	15.4% Good Good Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	4.18x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	0.99x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	6.80x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	7.03x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	2.38x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.37x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.73x Excellent → Excellent Stable Free cash flow relative to reported net income Optimal: > 1x	1.98x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.13x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	1.91x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	1.48x Good ↓ Good Declining Free cash flow relative to reported net income Optimal: > 1x	2.55x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	3.29x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.70x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	2.18x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	2.33x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	4.04x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-13.73x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	2.35x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Return on Invested Capital (%)	2.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	1.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	0.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	4.0% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	12.2% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	-31.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	23.8% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	25.7% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	26.6% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	35.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	44.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	25.9% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	13.8% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	5.0% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	5.5% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	8.6% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	2.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	4.2% Caution Caution Return earned on debt + equity capital invested Optimal: > 10%	9.0% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	1.5% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	1.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	2.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	4.7% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	-11.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	11.4% Good ↓ Good Declining Operating profit relative to total assets Optimal: > 10%	12.2% Good ↓ Good Declining Operating profit relative to total assets Optimal: > 10%	14.0% Good ↓ Good Declining Operating profit relative to total assets Optimal: > 10%	16.1% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	19.3% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	11.3% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	6.6% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	3.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	3.8% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	6.4% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	1.8% Weak Weak Operating profit relative to total assets Optimal: > 10%	3.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	5.5% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-63%)	4.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-70%)	4.4% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-71%)	5.0% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-66%)	9.4% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-37%)	-34.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-331%)	23.4% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+56%)	25.0% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+67%)	33.4% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+123%)	26.6% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+77%)	29.6% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+98%)	16.8% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+12%)	10.3% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-31%)	6.0% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-60%)	2.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-83%)	7.4% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-51%)	1.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-88%)	3.6% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-76%)	9.3% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-38%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Debt to Equity (x)	0.62x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-12%)	0.65x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-8%)	0.76x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+9%)	0.76x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+8%)	—	—	—	—	—	—	—	—	—	0.41x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-41%)	0.45x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-35%)	0.46x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-34%)	0.61x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-13%)	0.71x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	—	—
Interest Coverage (x)	3.96x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	1.46x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	0.98x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	3.33x Fair ↓ Fair Declining Operating income divided by interest expense Optimal: > 5x	5.12x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	-18.00x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	25.06x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	24.47x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	30.83x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	30.82x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	34.02x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	17.12x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	9.76x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	4.24x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	3.57x Fair → Fair Stable Operating income divided by interest expense Optimal: > 5x	5.92x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	1.41x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	3.45x Fair Fair Operating income divided by interest expense Optimal: > 5x	6.65x Good Good Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$1.70B	$-812.00M	$-1.28B	$-1.40B	$-12.48B	$-11.06B	$-2.55B	$-1.85B	$-1.50B	$-1.68B	$-1.58B	$-1.28B	$-1.35B	$1.77B	$2.28B	$1.61B	$2.21B	$2.13B	$-2.21B	$-1.39B
Debt / EBITDA (x)	11.52x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	20.86x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	35.77x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	7.96x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—	—	—	4.63x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.48x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.91x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	12.69x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	7.79x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Revenue per Share (USD)	$51.97	$45.96	$43.85	$40.16	$26.67	$16.01	$41.69	$38.33	$35.23	$32.58	$29.98	$27.08	$24.93	$22.78	$20.23	$16.23	—	—	—	—
Basic EPS, GAAP (USD)	$0.82	$0.78	$0.78	$0.91	$1.65	$-5.44	$4.28	$4.30	$5.80	$3.58	$3.30	$1.65	$1.06	$0.56	$0.23	$0.62	$0.13	$0.24	$0.85	—
Free Cash Flow per Share (USD)	$3.41	$0.77	$5.32	$6.39	$3.92	$-1.99	$7.41	$8.54	$6.54	$6.85	$4.90	$4.22	$3.49	$0.95	$0.50	$1.43	—	—	—	—
Dividend per Share (USD)	$0.72	$0.72	$0.18	$0.18	—	$0.18	$0.70	$0.60	$0.47	$0.38	$0.28	$0.22	$0.13	$0.03	$0.02	$0.02	$0.02	$0.07	$0.07	—
Book Value per Share (USD)	$14.78	$17.31	$17.67	$18.02	$17.59	$15.71	$18.28	$17.20	$17.35	$13.46	$11.13	$9.86	$10.33	$9.32	$8.89	$8.36	—	—	—	—
Tangible Book Value per Share (USD)	$12.44	$15.18	$15.54	$15.89	$15.45	$13.47	$15.92	$14.80	$15.05	$11.24	$8.96	$7.92	$8.73	$8.03	$7.63	$8.36	—	—	—	—
Basic Weighted Avg Shares (shares)	540.00M	598.00M	595.00M	593.00M	592.00M	565.00M	538.00M	573.00M	601.00M	627.00M	661.00M	687.00M	710.00M	750.00M	774.00M	746.00M	741	735	757	—
Dividend Payout Ratio (%)	87.8% Caution Caution Dividends paid as a percentage of earnings Optimal: 30-60%	92.3% Weak Weak Dividends paid as a percentage of earnings Optimal: 30-60%	—	—	—	—	—	—	8.2% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	10.5% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	8.6% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	13.3% Excellent ↑ Excellent Improving Dividends paid as a percentage of earnings Optimal: 30-60%	12.3% Excellent ↑ Excellent Improving Dividends paid as a percentage of earnings Optimal: 30-60%	6.2% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	7.8% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	2.9% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	13.8% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Working Capital (USD)	$-5.28B	$-1.00B	$1.70B	$4.43B	$8.87B	$7.67B	$-2.98B	$-2.88B	$-2.09B	$-2.35B	$-3.38B	$-2.00B	$-1.22B	$-423.00M	$-188.00M	$974.00M	$663.00M	$-153.00M	—	—
LT Debt (USD)	$4.93B	$6.70B	$8.01B	$8.10B	—	—	—	—	—	—	—	—	—	$2.88B	$3.11B	$2.88B	$3.33B	$3.50B	—	—
Total Equity (USD)	$7.98B	$10.35B	$10.52B	$10.69B	$10.41B	$8.88B	$9.83B	$9.85B	$10.43B	$8.44B	$7.36B	$6.78B	$7.34B	$6.99B	$6.88B	$6.24B	$5.45B	$4.95B	$6.94B	$6.45B

📋 What is driving earnings? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Sales/Revenue/Turnover (USD)	$28.06B	$27.48B	$26.09B	$23.81B	$15.79B	$9.05B	$22.43B	$21.96B	$21.17B	$20.43B	$19.82B	$18.61B	$17.70B	$17.09B	$15.66B	$12.10B	$10.35B	$11.02B	$9.86B	—
Net Income, GAAP (USD)	$441.00M	$465.00M	$465.00M	$539.00M	$977.00M	$-3.07B	$2.30B	$2.46B	$3.49B	$2.24B	$2.18B	$1.14B	$754.00M	$421.00M	$178.00M	$459.00M	$99.00M	$178.00M	$645.00M	—
Operating Cash Flow (USD)	$1.84B	$462.00M	$3.16B	$3.79B	$2.32B	$-1.13B	$3.99B	$4.89B	$3.93B	$4.29B	$3.24B	$2.90B	$2.48B	$2.06B	$1.36B	$1.56B	$985.00M	$-1.52B	$2.85B	—

SOUTHWEST AIRLINES CO

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