Southwest Airlines (LUV) Free Cash Flow (2009 - 2026)

Southwest Airlines has reported Free Cash Flow for 18 years, with the latest figure at $788.0 million in Q1 2026.

• For the quarter ending Q1 2026, Free Cash Flow rose 136.64% year-over-year to $788.0 million; the trailing twelve-month figure through Mar 2026 stood at $234.0 million (up 114.33% YoY), and the FY2025 full-year result was -$831.0 million, up 47.8% from the prior year.
• Free Cash Flow for Q1 2026 stood at $788.0 million, up from -$564.0 million in the prior quarter.
• The five-year high for Free Cash Flow was $1.9 billion in Q2 2022, with the low at -$1.6 billion in Q4 2024.
• Historically, Free Cash Flow has averaged $143.6 million across 5 years, with a median of $214.0 million in 2022.
• Annual changes were most pronounced in 2022 — Free Cash Flow jumped 219.4% — and 2024, when it sank 507.35%.
• Southwest Airlines' Free Cash Flow stood at $214.0 million in 2022, then jumped by 78.04% to $381.0 million in 2023, then slumped by 507.35% to -$1.6 billion in 2024, then soared by 63.66% to -$564.0 million in 2025, then jumped by 239.72% to $788.0 million in 2026.
• The last three Free Cash Flow figures came in at $788.0 million (Q1 2026), -$564.0 million (Q4 2025), and -$391.0 million (Q3 2025), per Business Quant data.