Southwest Airlines Balance Sheet
NYSE: LUVConsumer DiscretionaryAir Freight/Delivery ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Southwest Airlines financial position
At the end of fiscal 2025, Southwest Airlines reported total assets of $29.06 billion, down 13.9% from a year earlier against total liabilities of $21.08 billion. Shareholders' equity stood at $7.98 billion, or 27.5% of assets. The company held $3.23 billion in cash and equivalents against $4.90 billion of debt, a net debt position of $1.67 billion.
The current ratio (current assets divided by current liabilities) was 0.52, meaning short-term obligations exceed short-term assets. Debt-to-equity was 0.61.
Summary generated from market data by MetaCap's automated system. Methodology
Southwest Airlines balance sheet (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.23B | 7.51B | 9.29B | 9.49B | 12.48B | 11.06B | 2.55B | 1.85B | 1.50B | 1.68B |
| Short-Term Investments | 0 | 1.22B | 2.19B | 2.80B | 3.02B | 2.27B | 1.52B | 1.83B | 1.78B | 1.63B |
| Receivables | 98.00M | 47.00M | 104.00M | 117.00M | 58.00M | 46.00M | — | — | — | — |
| Total Current Assets | 5.64B | 11.27B | 13.96B | 14.81B | 18.04B | 15.17B | 5.97B | 5.03B | 4.82B | 4.50B |
| Property, Plant & Equipment | 20.25B | 19.06B | 19.38B | 17.34B | 14.84B | 15.83B | 17.02B | 19.52B | 18.54B | 17.04B |
| Goodwill | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M |
| Intangible Assets | 296.00M | 300.00M | 296.00M | 296.00M | 295.00M | 295.00M | 296.00M | 400.00M | 413.00M | 426.00M |
| Total Assets | 29.06B | 33.75B | 36.49B | 35.37B | 36.32B | 34.59B | 25.89B | 26.24B | 25.11B | 23.29B |
| Accounts Payable | 1.99B | 1.82B | 1.86B | 2.00B | 1.28B | 931.00M | 1.57B | 1.42B | 1.32B | 1.18B |
| Short-Term Debt | 324.00M | 1.63B | 29.00M | 42.00M | 453.00M | 220.00M | 819.00M | 606.00M | 348.00M | 566.00M |
| Total Current Liabilities | 10.92B | 12.28B | 12.26B | 10.38B | 9.16B | 7.51B | 8.95B | 7.91B | 6.86B | 6.84B |
| Long-Term Debt | 4.58B | 5.07B | 7.98B | 8.05B | 10.27B | 10.11B | 1.85B | 2.77B | 3.32B | 2.82B |
| Total Liabilities | 21.08B | 23.40B | 25.97B | 24.68B | 25.91B | 25.71B | 16.06B | 16.39B | 15.47B | 15.50B |
| Shareholders' Equity | 7.98B | 10.35B | 10.52B | 10.69B | 10.41B | 8.88B | 9.83B | 9.85B | 9.64B | 7.78B |
| Retained Earnings | 16.39B | 16.33B | 16.30B | 16.26B | 15.77B | 14.78B | 17.95B | 15.97B | 13.83B | 11.42B |
| Total Debt | 4.90B | 6.70B | 8.01B | 8.09B | 10.73B | 10.33B | 2.67B | 3.38B | 3.67B | 3.39B |
| Net Cash (Debt) | -1.67B | 2.03B | 3.47B | 4.20B | 4.78B | 3.00B | 1.41B | 312.00M | -395.00M | -82.00M |
This table shows 10 annual periods of Southwest Airlines's balance sheet, from FY 2025 back to FY 2016, across 17 line items including cash & equivalents, short-term investments, receivables. Values in USD; B = billions, M = millions. Fiscal periods follow LUV's reporting calendar. What is a balance sheet?