Southwest Airlines (LUV) Cash from Operations (2009 - 2026)
Southwest Airlines (LUV) reported Cash from Operations of $530 million for Q2 2026, up 32.2% from $401 million a year earlier but down 62.6% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Cash from Operations (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Southwest Airlines' Cash from Operations came in at $2.53 billion, up 36.8% year-over-year; for FY2025, it came in at $1.84 billion, up 298.7% from FY2024.
- By year, Cash from Operations came in at $462 million in FY2024 (-85.4%), $3.16 billion in FY2023 (-16.5%), $3.79 billion in FY2022 (+63.2%) and $2.32 billion in FY2021.
- Five-year quarterly Cash from Operations spans a low of -$575 million in Q3 2021 and a high of $1.91 billion in Q2 2022.
- Year over year, Cash from Operations gained in four of the last six quarters, with growth averaging 23.9%.
- The high point for year-over-year Cash from Operations in five years was Q3 2023 (growth of 163.2%); the low point was Q3 2024 (a decline of 81.7%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $1.42 billion (Q1 2026), $295 million (Q4 2025) and $287 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Ops. (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 171.31 Bn | 165.84 Bn | - | 3.08 Bn |
| 2 | Csx | 89.17 Bn | 85.38 Bn | - | 1.33 Bn |
| 3 | United Parcel Service | 83.27 Bn | 60.16 Bn | - | 859.00 Mn |
| 4 | Canadian Pacific Kansas City | 77.44 Bn | 76.46 Bn | - | 1.25 Bn |
| 5 | Norfolk Southern | 73.15 Bn | 67.79 Bn | - | 1.05 Bn |
| 6 | Fedex | 69.83 Bn | 35.78 Bn | - | 3.27 Bn |
| 7 | Delta Air Lines | 49.00 Bn | 31.18 Bn | - | 1.71 Bn |
| 8 | Old Dominion Freight Line | 39.12 Bn | 38.38 Bn | - | 272.70 Mn |
| 9 | United Airlines Holdings | 31.13 Bn | -25.24 Bn | - | 1.61 Bn |
| 10 | Southwest Airlines | 19.18 Bn | 5.81 Bn | - | 530.00 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();