Southwest Airlines Quarterly Balance Sheet
NYSE: LUVConsumer DiscretionaryAir Freight/Delivery ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Southwest Airlines financial position
As of Jun 30, 2026, Southwest Airlines reported total assets of $30.12 billion, up 4.9% from a year earlier against total liabilities of $23.04 billion. Shareholders' equity stood at $7.08 billion, or 23.5% of assets. The company held $3.79 billion in cash and equivalents against $5.95 billion of debt, a net debt position of $2.15 billion.
The current ratio (current assets divided by current liabilities) was 0.49, meaning short-term obligations exceed short-term assets. Debt-to-equity was 0.84.
Summary generated from market data by MetaCap's automated system. Methodology
Southwest Airlines balance sheet (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.79B | 3.33B | 3.23B | 2.90B | 3.48B | 8.13B | 7.51B | 8.50B | 8.14B | 8.37B | 9.29B | 9.50B |
| Short-Term Investments | — | — | 0 | 116.00M | 364.00M | 118.00M | 1.22B | 879.00M | 1.86B | 2.15B | 2.19B | 2.24B |
| Receivables | 78.00M | 171.00M | 98.00M | 52.00M | 60.00M | 47.00M | 47.00M | 50.00M | 67.00M | 58.00M | 104.00M | 142.00M |
| Total Current Assets | 6.48B | 5.97B | 5.64B | 5.39B | 6.09B | 10.73B | 11.27B | 11.93B | 12.75B | 13.28B | 13.96B | 14.63B |
| Property, Plant & Equipment | 20.64B | 20.38B | 20.25B | 19.70B | 19.40B | 19.16B | 19.06B | 19.77B | 19.66B | 19.56B | 19.38B | 19.07B |
| Goodwill | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M | 970.00M |
| Intangible Assets | 296.00M | 296.00M | 296.00M | 295.00M | 295.00M | 299.00M | 300.00M | 300.00M | 300.00M | 295.00M | 296.00M | 296.00M |
| Total Assets | 30.12B | 29.36B | 29.06B | 28.31B | 28.71B | 33.21B | 33.75B | 34.85B | 35.56B | 36.02B | 36.49B | 36.98B |
| Accounts Payable | 2.07B | 2.11B | 1.99B | 1.71B | 1.81B | 1.93B | 1.82B | 1.52B | 2.03B | 1.95B | 1.86B | 1.74B |
| Short-Term Debt | 2.16B | 851.00M | 324.00M | 23.00M | 22.00M | 2.61B | 1.63B | 2.93B | 2.93B | 28.00M | 29.00M | 30.00M |
| Total Current Liabilities | 13.27B | 12.48B | 10.92B | 10.99B | 10.89B | 13.90B | 12.28B | 13.49B | 14.11B | 12.22B | 12.26B | 12.11B |
| Long-Term Debt | 3.79B | 4.54B | 4.58B | 4.08B | 4.08B | 4.09B | 5.07B | 5.08B | 5.07B | 7.97B | 7.98B | 7.98B |
| Total Liabilities | 23.04B | 22.48B | 21.08B | 20.54B | 20.71B | 23.85B | 23.40B | 24.44B | 25.10B | 25.82B | 25.97B | 25.93B |
| Shareholders' Equity | 7.08B | 6.88B | 7.98B | 7.78B | 8.00B | 9.37B | 10.35B | 10.41B | 10.46B | 10.20B | 10.52B | 11.05B |
| Retained Earnings | 16.67B | 16.53B | 16.39B | 16.16B | 16.20B | 16.08B | 16.33B | 16.18B | 16.22B | 15.96B | 16.30B | 16.66B |
| Total Debt | 5.95B | 5.39B | 4.90B | 4.10B | 4.10B | 6.69B | 6.70B | 8.01B | 8.00B | 8.00B | 8.01B | 8.01B |
| Net Cash (Debt) | -2.15B | -2.06B | -1.67B | -1.08B | -264.00M | 1.56B | 2.03B | 1.38B | 2.01B | 2.51B | 3.47B | 3.72B |
This table shows 12 quarterly periods of Southwest Airlines's balance sheet, from Q2 2026 back to Q3 2023, across 18 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?