Free Cash Flow for Southwest Airlines (LUV)
Free Cash Flow for Southwest Airlines (LUV): headline value -$401.00M · YoY -48.6%. Annual and quarterly series, chart, and tables are below.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Currently viewingFree Cash FlowSwitch metric
Latest period
-$401.00M
YoY change
-48.6%
5Y CAGR
N/A
Peak year (2019)
$2.96B
Latest annual
-$831.00M
Free Cash Flow history chart for Southwest Airlines (LUV) from 1989 to 2025
Free Cash Flow history table for Southwest Airlines (LUV) from 1989 to 2025
| Fiscal year | Period ended | Reported | Free Cash Flow | YoY |
|---|---|---|---|---|
| 2025 | -$831.00M | -48.6% | ||
| 2024 | -$1.62B | +315.9% | ||
| 2023 | -$389.00M | +149.4% | ||
| 2022 | -$156.00M | -108.6% | ||
| 2021 | $1.81B | -210.3% | ||
| 2020 | -$1.64B | -155.5% | ||
| 2019 | $2.96B | +1.5% | ||
| 2018 | $2.92B | +73.6% | ||
| 2017 | $1.68B | -21.7% | ||
| 2016 | $2.15B | +96.0% | ||
| 2015 | $1.09B | +2.0% | ||
| 2014 | $1.07B | +3.0% | ||
| 2013 | $1.04B | +45.7% | ||
| 2012 | $716.00M | +71.7% | ||
| 2011 | $417.00M | -61.0% | ||
| 2010 | $1.07B | +167.0% | ||
| 2009 | $400.00M | -116.4% | ||
| 2008 | -$2.44B | -261.4% | ||
| 2007 | $1.51B | +21528.6% | ||
| 2006 | $7.00M | -99.3% | ||
| 2005 | $1.02B | -264.9% | ||
| 2004 | -$618.00M | -730.6% | ||
| 2003 | $98.00M | -218.3% | ||
| 2002 | -$82.85M | -117.0% | ||
| 2001 | $486.76M | +197.5% | ||
| 2000 | $163.64M | -198.5% | ||
| 1999 | -$166.12M | +172.5% | ||
| 1998 | -$60.96M | -22.2% | ||
| 1997 | -$78.34M | +25.9% | ||
| 1996 | -$62.20M | -77.1% | ||
| 1995 | -$272.20M | -27.6% | ||
| 1994 | -$375.98M | +185.9% | ||
| 1993 | -$131.50M | -9.1% | ||
| 1992 | -$144.70M | -39.2% | ||
| 1991 | -$237.90M | +15.6% | ||
| 1990 | -$205.80M | +119.2% | ||
| 1989 | -$93.90M | — |
Free Cash Flow values are taken from Southwest Airlines's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
2025's annual free cash flow for Southwest Airlines (LUV) came in at -$831.00M – plunged 48.6% year-over-year.
Southwest Airlines free cash flow peaked at $2.96B in 2019; the latest annual figure is -$831.00M in 2025 (128.1% below peak).
$2.96B stands as the all-time-high annual free cash flow, posted in 2019, against a low of -$2.44B during 2008.
Within Industrials, Southwest Airlines (LUV) ranks 8th among 8 peers we track. The peer median for free cash flow is $5.45B.
Southwest Airlines Free Cash Flow by Year
Southwest Airlines Free Cash Flow 2025: -$831.00M
Southwest Airlines free cash flow in 2025 was -$831.00M, plunged 48.6% below 2024.
Southwest Airlines Free Cash Flow 2024: -$1.62B
Southwest Airlines free cash flow in 2024 was -$1.62B, surged 315.9% from 2023.
Southwest Airlines Free Cash Flow 2023: -$389.00M
Southwest Airlines free cash flow in 2023 was -$389.00M, surged 149.4% from 2022.
Southwest Airlines Free Cash Flow 2022: -$156.00M
Southwest Airlines free cash flow in 2022 was -$156.00M, plunged 108.6% below 2021.
Southwest Airlines Free Cash Flow 2021: $1.81B
Southwest Airlines free cash flow in 2021 was $1.81B.
See more financial history for Southwest Airlines (LUV).
Sector peers — Free Cash Flow
Companies in the same sector as Southwest Airlines, ranked by their latest free cash flow.
| Company | Free Cash Flow | Sector |
|---|---|---|
| Caterpillar Inc. (CAT) | $10.27B | Industrials |
| RTX Corporation (RTX) | $7.94B | Industrials |
| GE Aerospace (GE) | $7.26B | Industrials |
| Union Pacific Corporation (UNP) | $5.50B | Industrials |
| Honeywell International Inc. (HON) | $5.39B | Industrials |
| Eaton Corporation plc (ETN) | $4.47B | Industrials |
| Deere & Company (DE) | $3.23B | Industrials |
| The Boeing Company (BA) | -$1.88B | Industrials |
Frequently asked questions
What is Southwest Airlines's free cash flow?
Latest reported free cash flow for Southwest Airlines (LUV) is -$401.00M (period ending March 31, 2026).
How has Southwest Airlines free cash flow changed year-over-year?
Southwest Airlines (LUV) free cash flow changed -48.6% year-over-year on the latest annual filing.
When did Southwest Airlines free cash flow hit its highest annual value?
Southwest Airlines free cash flow reached its highest annual value of $2.96B in 2019.
What was Southwest Airlines free cash flow in 2024?
Southwest Airlines (LUV) free cash flow in 2024 was -$1.62B.
What was Southwest Airlines free cash flow in 2025?
Southwest Airlines (LUV) free cash flow in 2025 was -$831.00M.
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