Southwest Airlines (LUV) Free Cash Flow (2009 - 2026)
Southwest Airlines' Free Cash Flow came in at -$493 million for Q3 2026, compared with -$448 million a year earlier.
Powered by 
Analysis
Southwest Airlines (LUV) Free Cash Flow (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Southwest Airlines reported Free Cash Flow of -$449 million; for FY2025, it came in at -$831 million.
- Going back by year, Free Cash Flow was -$1.59 billion in FY2024, -$356 million in FY2023, -$156 million in FY2022 and $1.81 billion in FY2021.
- The Q3 2026 figure represents the lowest quarterly Free Cash Flow since Q2 2024.
- Business Quant data shows LUV's Free Cash Flow at -$288 million (Q2 2026), $788 million (Q1 2026) and -$456 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 174.04 Bn | 166.29 Bn | - | 1.76 Bn |
| 2 | Csx | 93.63 Bn | 88.85 Bn | - | 1.02 Bn |
| 3 | Canadian Pacific Kansas City | 78.71 Bn | 78.42 Bn | - | 699.79 Mn |
| 4 | United Parcel Service | 75.71 Bn | 52.63 Bn | - | 166.00 Mn |
| 5 | Norfolk Southern | 74.09 Bn | 68.55 Bn | - | 736.00 Mn |
| 6 | Fedex | 70.69 Bn | 36.64 Bn | - | 1.79 Bn |
| 7 | Delta Air Lines | 50.49 Bn | 32.68 Bn | - | 300.00 Mn |
| 8 | Old Dominion Freight Line | 37.91 Bn | 37.17 Bn | - | 195.66 Mn |
| 9 | United Airlines Holdings | 31.82 Bn | -25.88 Bn | - | -1.67 Bn |
| 10 | Southwest Airlines | 20.44 Bn | 6.46 Bn | - | -493.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -493.00 Mn |
| Jun 30, 2026 | -288.00 Mn |
| Mar 31, 2026 | 788.00 Mn |
| Dec 31, 2025 | -564.00 Mn |
| Sep 30, 2025 | -391.00 Mn |
| Jun 30, 2025 | -259.00 Mn |
| Mar 31, 2025 | 333.00 Mn |
| Dec 31, 2024 | 42.00 Mn |
| Sep 30, 2024 | -414.00 Mn |
| Jun 30, 2024 | -523.00 Mn |
| Mar 31, 2024 | -696.00 Mn |
| Dec 31, 2023 | -260.00 Mn |
| Sep 30, 2023 | -234.00 Mn |
| Jun 30, 2023 | 483.00 Mn |
| Mar 31, 2023 | -346.00 Mn |
| Dec 31, 2022 | -785.00 Mn |
| Sep 30, 2022 | -845.00 Mn |
| Jun 30, 2022 | 916.00 Mn |
| Mar 31, 2022 | 557.00 Mn |
| Dec 31, 2021 | 64.00 Mn |
API Access
Southwest Airlines Free Cash Flow 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=free-cash-flow&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();