# SOUTHWEST AIRLINES CO (LUV) · Edgar & Edgarette company card

> Southwest Airlines (LUV) grew revenue 2.1% in FY2025 to $28.1 billion, operating margin 1.5% against a 2.7% median for air transportation, scheduled, equity 27.5% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 92380 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/LUV) · [JSON](https://www.pops4.com/boards/company/LUV.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $28.1B |
| Revenue growth, 1 year | 2.1% |
| Revenue growth per year | 15.5% |
| Operating margin | 1.5% (prior year 1.2%) |
| Net margin | 1.6% |
| Operating cash flow | $1.8B |
| Capital spending | $2.7B |
| Free cash flow | −$831M |
| Cash | $3.2B |
| Long-term debt | $4.9B |
| Total assets | $29.1B |
| Total equity | $8.0B |
| Equity ÷ assets | 27.5% |
| Return on equity | 5.5% |
| Dividend per share | $0.72 |
| Dividend years rising | 0 |

## Readings, computed from those figures

- Altman Z: 1.14 (grey zone)
- Piotroski F: 7 of 9 (solid)
- Health Harbor boat: Sound ship · one warning sign · free cash flow was negative: capital spending outran operating cash (-$831.0M in FY2025)
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $28.1B (FY2025), total debt $4.9B. Experience: revenue up 2.1% on the year, up 15.5% a year over 4 years; operating margin 1.5%, up from 1.2%. Soundness: equity 27.5% of assets, return on equity 5.5%, payout 90.5% of profit. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $23.3B and $33.8B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $19.8B to $39.1B. A statistical range, not company guidance. Against peers (11 filers, $50M+ revenue, air transportation, scheduled): operating margin 1.5% against a 2.7% median; growth 2.1% against 3.5%.

Range logged 2026-09-28, receipt e27ed74683c76ea8, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 3, latest 2026-08-10 ([filing](https://www.sec.gov/Archives/edgar/data/92380/000009238026000093/0000092380-26-000093-index.htm))

## Recent filings

- 8-K · filed 2026-11-02 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/92380/000119312526443635/0001193125-26-443635-index.htm)
- 10-Q · filed 2026-10-22 · [filing](https://www.sec.gov/Archives/edgar/data/92380/000009238026000107/0000092380-26-000107-index.htm)
- 8-K · filed 2026-10-21 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/92380/000009238026000104/0000092380-26-000104-index.htm)
- 8-K · filed 2026-08-12 · 1.01 Entry into a Material Definitive Agreement; 1.02 Termination of a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/92380/000009238026000098/0000092380-26-000098-index.htm)
- 8-K · filed 2026-08-10 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/92380/000009238026000093/0000092380-26-000093-index.htm)
- 8-K · filed 2026-08-07 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/92380/000119312526340284/0001193125-26-340284-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000092380.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=92380

## Cite

POPS4, Edgar & Edgarette: SOUTHWEST AIRLINES CO (LUV) company card, from the company's own SEC filings, accessed 2026-11-13, https://www.pops4.com/boards/company/LUV. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.