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

Southwest Airlines (LUV) has reported Free Cash Flow for 18 consecutive years, with -$288.0 million the latest figure, recorded in Q2 2026.

• Quarterly Free Cash Flow fell 11.2% year-over-year to -$288.0 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was -$455.0 million (down 44.9% YoY) and the FY2025 annual result came in at -$831.0 million, up 47.8% from the prior year.
• Free Cash Flow retreated to -$288.0 million in Q2 2026 per LUV's latest filing, from $788.0 million in the prior quarter.
• Over the last five years, Free Cash Flow for LUV reached as high as $919.0 million in Q2 2022 and fell as low as -$838.0 million in Q3 2022.
• A 5-year average of $8.2 million and a median of -$105.0 million in 2023 frame the typical range for Free Cash Flow.
• Annual changes were most pronounced in 2022 — Free Cash Flow surged 219.4% — and 2025, when it tumbled 3625.0%.
• Year by year, Free Cash Flow stood at $214.0 million in 2022, then jumped by 78.04% to $381.0 million in 2023, then tumbled by 95.8% to $16.0 million in 2024, then slumped by 3625.0% to -$564.0 million in 2025, then soared by 48.94% to -$288.0 million in 2026.
• According to Business Quant data, Free Cash Flow over the past three periods registered -$288.0 million, $788.0 million, and -$564.0 million for Q2 2026, Q1 2026, and Q4 2025 respectively.