Shares Outstanding for Southwest Airlines (LUV)
According to Southwest Airlines's latest reported financial statements, the company's latest reported diluted shares outstanding is 503.00M. 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 .
Currently viewingShares OutstandingSwitch metric
Latest period
503.00M
YoY change
-13.2%
5Y CAGR
-0.2%
Peak year (2002)
1.00B
Latest annual
558.00M
Shares Outstanding history chart for Southwest Airlines (LUV) from 1985 to 2025
Shares Outstanding history table for Southwest Airlines (LUV) from 1985 to 2025
| Fiscal year | Period ended | Reported | Shares Outstanding | YoY |
|---|---|---|---|---|
| 2025 | 558.00M | -13.2% | ||
| 2024 | 643.00M | +0.5% | ||
| 2023 | 640.00M | -0.3% | ||
| 2022 | 642.00M | +5.4% | ||
| 2021 | 609.00M | +7.8% | ||
| 2020 | 565.00M | +4.8% | ||
| 2019 | 539.00M | -6.1% | ||
| 2018 | 574.00M | -4.8% | ||
| 2017 | 603.00M | -4.7% | ||
| 2016 | 633.00M | -5.4% | ||
| 2015 | 669.00M | -3.9% | ||
| 2014 | 696.00M | -3.1% | ||
| 2013 | 718.00M | -5.2% | ||
| 2012 | 757.00M | -2.3% | ||
| 2011 | 775.00M | +3.7% | ||
| 2010 | 747.00M | +0.8% | ||
| 2009 | 741.00M | +0.3% | ||
| 2008 | 739.00M | -3.8% | ||
| 2007 | 767.86M | -6.1% | ||
| 2006 | 818.03M | +1.4% | ||
| 2005 | 806.67M | -2.1% | ||
| 2004 | 823.68M | +1.9% | ||
| 2003 | 808.70M | -19.5% | ||
| 2002 | 1.00B | +23.8% | ||
| 2001 | 811.34M | +2.4% | ||
| 2000 | 792.41M | -1.6% | ||
| 1999 | 805.08M | +1.5% | ||
| 1998 | 792.86M | +3.5% | ||
| 1997 | 766.06M | -1.7% | ||
| 1996 | 779.13M | +6.7% | ||
| 1995 | 730.40M | -2.2% | ||
| 1994 | 747.08M | +1.3% | ||
| 1993 | 737.39M | +6.9% | ||
| 1992 | 690.00M | +2.6% | ||
| 1991 | 672.50M | -0.1% | ||
| 1990 | 672.86M | -6.0% | ||
| 1989 | 716.00M | -1.2% | ||
| 1988 | 725.00M | +7.7% | ||
| 1987 | 673.33M | -5.7% | ||
| 1986 | 714.29M | +5.7% | ||
| 1985 | 675.71M | — |
Shares Outstanding values are taken from Southwest Airlines's reported income 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 diluted shares outstanding for Southwest Airlines (LUV) came in at 558.00M – 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 1.00B in 2002 to 558.00M in 2025, a 44.4% drawdown.
1.00B stands as the all-time-high annual diluted shares outstanding, posted in 2002, against a low of 539.00M during 2019.
Within Industrials, Southwest Airlines (LUV) ranks 6th among 8 peers we track. The peer median for diluted shares outstanding is 618.15M.
Southwest Airlines Shares Outstanding by Year
Southwest Airlines Shares Outstanding 2025: 558.00M
Southwest Airlines diluted shares outstanding in 2025 was 558.00M, declined 13.2% below 2024.
Southwest Airlines Shares Outstanding 2024: 643.00M
Southwest Airlines diluted shares outstanding in 2024 was 643.00M, edged up 0.5% from 2023.
Southwest Airlines Shares Outstanding 2023: 640.00M
Southwest Airlines diluted shares outstanding in 2023 was 640.00M, edged down 0.3% below 2022.
Southwest Airlines Shares Outstanding 2022: 642.00M
Southwest Airlines diluted shares outstanding in 2022 was 642.00M, grew 5.4% from 2021.
Southwest Airlines Shares Outstanding 2021: 609.00M
Southwest Airlines diluted shares outstanding in 2021 was 609.00M.
See more financial history for Southwest Airlines (LUV).
Sector peers — Shares Outstanding
Companies in the same sector as Southwest Airlines, ranked by their latest diluted shares outstanding.
| Company | Shares Outstanding | Sector |
|---|---|---|
| RTX Corporation (RTX) | 1.36B | Industrials |
| GE Aerospace (GE) | 1.07B | Industrials |
| The Boeing Company (BA) | 762.30M | Industrials |
| Honeywell International Inc. (HON) | 642.80M | Industrials |
| Union Pacific Corporation (UNP) | 593.50M | Industrials |
| Caterpillar Inc. (CAT) | 469.00M | Industrials |
| Eaton Corporation plc (ETN) | 389.50M | Industrials |
| Deere & Company (DE) | 271.70M | Industrials |
Frequently asked questions
What is Southwest Airlines's diluted shares outstanding?
- Latest reported diluted shares outstanding for Southwest Airlines (LUV) is 503.00M (period ending March 31, 2026).
How has Southwest Airlines diluted shares outstanding changed year-over-year?
- Southwest Airlines (LUV) diluted shares outstanding changed -13.2% year-over-year on the latest annual filing.
What is the long-term growth rate of Southwest Airlines diluted shares outstanding?
- Southwest Airlines (LUV) diluted shares outstanding compound annual growth rate is -0.2% over the most recent 5 years available.
When did Southwest Airlines diluted shares outstanding hit its highest annual value?
- Southwest Airlines diluted shares outstanding reached its highest annual value of 1.00B in 2002.
What was Southwest Airlines diluted shares outstanding in 2024?
- Southwest Airlines (LUV) diluted shares outstanding in 2024 was 643.00M.
What was Southwest Airlines diluted shares outstanding in 2025?
- Southwest Airlines (LUV) diluted shares outstanding in 2025 was 558.00M.
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