Southwest Airlines (LUV) Cash from Operations (2009 - 2026)
Southwest Airlines' (LUV) quarterly Cash from Operations came in at $530.0 million in Q2 2026, up 32.17% on a YoY basis from $401.0 million in Q2 2025, and down 62.62% quarter-over-quarter from $1.4 billion in Q1 2026.
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Analysis
Southwest Airlines (LUV) Cash from Operations (2009 - 2026) Analysis & Trends
Southwest Airlines (LUV) has reported Cash from Operations for 18 consecutive years, with $530.0 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Cash from Operations rose 32.17% year-over-year to $530.0 million; the trailing twelve-month figure through Jun 2026 stood at $2.5 billion (up 36.76% YoY), and the FY2025 full-year result was $1.8 billion, up 298.7% from the prior year.
- Cash from Operations declined to $530.0 million in Q2 2026 per LUV's latest filing, from $1.4 billion in the prior quarter.
- Across five years, Cash from Operations topped out at $1.9 billion in Q2 2022 and bottomed at -$104.0 million in Q1 2024.
- Historically, Cash from Operations has averaged $622.6 million across 5 years, with a median of $503.0 million in 2024.
- The sharpest annual moves came in 2024 and 2025: Cash from Operations sank 114.73% in 2024, then soared 1843.48% in 2025.
- Over 5 years, Cash from Operations stood at $579.0 million in 2022, then declined by 26.6% to $425.0 million in 2023, then climbed by 12.0% to $476.0 million in 2024, then sank by 38.03% to $295.0 million in 2025, then soared by 79.66% to $530.0 million in 2026.
- According to Business Quant data, Cash from Operations over the past three periods registered $530.0 million, $1.4 billion, and $295.0 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Operations (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 52.35 Bn | 47.68 Bn | 19.07 Bn | 1.60 Bn |
| 2 | Ryanair Holdings | 27.93 Bn | 24.00 Bn | - | 1.40 Bn |
| 3 | Southwest Airlines | 20.05 Bn | 16.26 Bn | 7.33 Bn | 530.00 Mn |
| 4 | Copa Holdings | 5.42 Bn | 4.16 Bn | 1.03 Bn | - |
| 5 | Alaska Air | 4.52 Bn | 1.86 Bn | 3.76 Bn | 185.00 Mn |
| 6 | Skywest | 3.74 Bn | 3.14 Bn | 1.01 Bn | 291.86 Mn |
| 7 | Grupo Aeromexico, S.A.B. de C.V | 2.25 Bn | 1.21 Bn | - | 83.00 Mn |
| 8 | Allegiant Travel | 2.14 Bn | 1.08 Bn | 902.77 Mn | 46.08 Mn |
| 9 | Jetblue Airways | 1.65 Bn | -372.51 Mn | 2.32 Bn | -155.00 Mn |
| 10 | Frontier Group Holdings | 1.34 Bn | 384.76 Mn | - | 151.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 530.00 Mn |
| Mar 31, 2026 | 1.42 Bn |
| Dec 31, 2025 | 295.00 Mn |
| Sep 30, 2025 | 287.00 Mn |
| Jun 30, 2025 | 401.00 Mn |
| Mar 31, 2025 | 860.00 Mn |
| Dec 31, 2024 | 476.00 Mn |
| Sep 30, 2024 | 113.00 Mn |
| Jun 30, 2024 | -23.00 Mn |
| Mar 31, 2024 | -104.00 Mn |
| Dec 31, 2023 | 425.00 Mn |
| Sep 30, 2023 | 616.00 Mn |
| Jun 30, 2023 | 1.42 Bn |
| Mar 31, 2023 | 706.00 Mn |
| Dec 31, 2022 | 579.00 Mn |
| Sep 30, 2022 | 234.00 Mn |
| Jun 30, 2022 | 1.91 Bn |
| Mar 31, 2022 | 1.07 Bn |
| Dec 31, 2021 | 247.00 Mn |
| Sep 30, 2021 | -575.00 Mn |
API Access
Southwest Airlines Cash from Operations API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cash-from-operations&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cash-from-operations", "ticker": "LUV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cash-from-operations&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();