Latest period
498M
YoY change
-13.2%
5Y CAGR
-0.2%
Peak year (FY2002)
1B
Latest annual
558M
Shares Outstanding history chart for Southwest Airlines (LUV) from 2016 to 2025
Latest: 558M
Shares Outstanding growth chart for Southwest Airlines (LUV) from 2016 to 2025
Latest: -13.2%
Shares Outstanding history table for Southwest Airlines (LUV) from 1985 to 2025
| FY2025 | 558M | -13.2% | -85M | ||
| FY2024 | 643M | +0.5% | +3M | ||
| FY2023 | 640M | -0.3% | -2M | ||
| FY2022 | 642M | +5.4% | +33M | ||
| FY2021 | 609M | +7.8% | +44M | ||
| FY2020 | 565M | +4.8% | +26M | ||
| FY2019 | 539M | -6.1% | -35M | ||
| FY2018 | 574M | -4.8% | -29M | ||
| FY2017 | 603M | -4.7% | -30M | ||
| FY2016 | 633M | -5.4% | -36M | ||
| FY2015 | 669M | -3.9% | -27M | ||
| FY2014 | 696M | -3.1% | -22M | ||
| FY2013 | 718M | -5.2% | -39M | ||
| FY2012 | 757M | -2.3% | -18M | ||
| FY2011 | 775M | +3.7% | +28M | ||
| FY2010 | 747M | +0.8% | +6M | ||
| FY2009 | 741M | +0.3% | +2M | ||
| FY2008 | 739M | -3.8% | -28.9M | ||
| FY2007 | 768M | -6.1% | -50.2M | ||
| FY2006 | 818M | +1.4% | +11.4M | ||
| FY2005 | 807M | -2.1% | -17M | ||
| FY2004 | 824M | +1.9% | +15M | ||
| FY2003 | 809M | -19.5% | -195M | ||
| FY2002 | 1B | +23.8% | +193M | ||
| FY2001 | 811M | +2.4% | +18.9M | ||
| FY2000 | 792M | -1.6% | -12.7M | ||
| FY1999 | 805M | +1.5% | +12.2M | ||
| FY1998 | 793M | +3.5% | +26.8M | ||
| FY1997 | 766M | -1.7% | -13.1M | ||
| FY1996 | 779M | +6.7% | +48.7M | ||
| FY1995 | 730M | -2.2% | -16.7M | ||
| FY1994 | 747M | +1.3% | +9.69M | ||
| FY1993 | 737M | +6.9% | +47.4M | ||
| FY1992 | 690M | +2.6% | +17.5M | ||
| FY1991 | 673M | -0.1% | -357K | ||
| FY1990 | 673M | -6.0% | -43.1M | ||
| FY1989 | 716M | -1.2% | -9M | ||
| FY1988 | 725M | +7.7% | +51.7M | ||
| FY1987 | 673M | -5.7% | -41M | ||
| FY1986 | 714M | +5.7% | +38.6M | ||
| FY1985 | 676M | — | — |
- FY2025558M-13.2%
- FY2024643M+0.5%
- FY2023640M-0.3%
- FY2022642M+5.4%
- FY2021609M+7.8%
- FY2020565M+4.8%
- FY2019539M-6.1%
- FY2018574M-4.8%
- FY2017603M-4.7%
- FY2016633M-5.4%
- FY2015669M-3.9%
- FY2014696M-3.1%
- FY2013718M-5.2%
- FY2012757M-2.3%
- FY2011775M+3.7%
- FY2010747M+0.8%
- FY2009741M+0.3%
- FY2008739M-3.8%
- FY2007768M-6.1%
- FY2006818M+1.4%
- FY2005807M-2.1%
- FY2004824M+1.9%
- FY2003809M-19.5%
- FY20021B+23.8%
- FY2001811M+2.4%
- FY2000792M-1.6%
- FY1999805M+1.5%
- FY1998793M+3.5%
- FY1997766M-1.7%
- FY1996779M+6.7%
- FY1995730M-2.2%
- FY1994747M+1.3%
- FY1993737M+6.9%
- FY1992690M+2.6%
- FY1991673M-0.1%
- FY1990673M-6.0%
- FY1989716M-1.2%
- FY1988725M+7.7%
- FY1987673M-5.7%
- FY1986714M+5.7%
- FY1985676M—
Shares Outstanding values are taken from Southwest Airlines's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Shares Outstanding at Southwest Airlines (LUV)
According to Southwest Airlines's latest reported financial statements, the company's latest reported diluted shares outstanding is 498M. Diluted weighted-average shares outstanding is the share count used to compute per-share metrics like EPS. Buybacks lower it; new issuance, stock-based compensation, and convertible securities raise it. Multiply by the stock price for market capitalization.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
2025's annual diluted shares outstanding for Southwest Airlines (LUV) came in at 558M – declined 13.2% year-over-year.
Looking at the 2020–2025 (5 years) stretch, Southwest Airlines diluted shares outstanding compounded at -0.2% per year, with a net decline across the window.
Southwest Airlines diluted shares outstanding plunged from 1B in 2002 to 558M in 2025, a 44.4% drawdown.
1B stands as the all-time-high annual diluted shares outstanding, posted in 2002, against a low of 539M during 2019.
Southwest Airlines Shares Outstanding by Year
Southwest Airlines Shares Outstanding 2025: 558M
2025's diluted shares outstanding for Southwest Airlines came in at 558M, declined 13.2% below 2024.
Southwest Airlines Shares Outstanding 2024: 643M
Southwest Airlines posted diluted shares outstanding of 643M in 2024, edged up 0.5% from 2023.
Southwest Airlines Shares Outstanding 2023: 640M
In 2023, Southwest Airlines reported diluted shares outstanding of 640M, edged down 0.3% below 2022.
Southwest Airlines Shares Outstanding 2022: 642M
Southwest Airlines diluted shares outstanding in 2022 was 642M, grew 5.4% from 2021.
Southwest Airlines Shares Outstanding 2021: 609M
Southwest Airlines diluted shares outstanding in 2021 was 609M.
See more financial history for Southwest Airlines (LUV).
Sector peers by Shares Outstanding
Industrials peers of Southwest Airlines (LUV), ranked by their latest diluted shares outstanding
| 2.93B | |
| 1.36B | |
| 1.07B | |
| 762M | |
| 594M | |
| 469M | |
| 390M | |
| 272M |
- 2.93B
- 1.36B
- 1.07B
- 762M
Frequently asked questions
Southwest Airlines (LUV) Key Financials
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Deep-dives across the income statement, cash flow, capital return, and valuation
- Buybacks6.10% TTM
- Dividend Profile1.62% yield
- Dividend Calculator
- Dividend Forecast
- Dividend Capture
- Stock Split History14 splits
How this company returns cash to shareholders — buybacks, dividends, and stock splits.