Southwest Airlines Quarterly Cash Flow Statement
NYSE: LUVConsumer DiscretionaryAir Freight/Delivery ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Southwest Airlines free cash flow
In the quarter ended Jun 30, 2026, Southwest Airlines generated $530.0 million of operating cash flow and spent $818.0 million on capital expenditures. That left free cash flow of -$288.0 million, a free-cash-flow margin of -3.4% of revenue. Southwest Airlines returned $88.0 million to shareholders through dividends.
Summary generated from market data by MetaCap's automated system. Methodology
Southwest Airlines cash flow statement (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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 233.00M | 227.00M | 323.00M | 54.00M | 213.00M | -149.00M | 261.00M | 67.00M | 367.00M | -231.00M | -252.00M | 193.00M |
| Net Income growth (YoY) | +9.39% | — | +23.75% | -19.40% | -41.96% | — | — | -65.28% | -46.27% | — | — | -30.32% |
| Depreciation & Amortization | 402.00M | 398.00M | 371.00M | 394.00M | 400.00M | 396.00M | 407.00M | 438.00M | 404.00M | 408.00M | 415.00M | 375.00M |
| Change in Working Capital | -112.00M | 776.00M | -491.00M | -225.00M | -371.00M | 673.00M | -127.00M | -411.00M | -872.00M | -175.00M | 365.00M | -47.00M |
| Operating Cash Flow | 530.00M | 1.42B | 295.00M | 287.00M | 401.00M | 860.00M | 476.00M | 113.00M | -23.00M | -104.00M | 425.00M | 616.00M |
| Capital Expenditures | -818.00M | -630.00M | -859.00M | -678.00M | -660.00M | -527.00M | -460.00M | -517.00M | -494.00M | -583.00M | -708.00M | -842.00M |
| Investing Cash Flow | -560.00M | -445.00M | -742.00M | -428.00M | -882.00M | 623.00M | 73.00M | 458.00M | -206.00M | -585.00M | -664.00M | -64.00M |
| Dividends Paid | -88.00M | -93.00M | 0 | -189.00M | -103.00M | -107.00M | 1.00M | -216.00M | 0 | -215.00M | 0 | -214.00M |
| Share Repurchases | 0 | -1.25B | -50.00M | -250.00M | -1.50B | -750.00M | -250.00M | 0 | 0 | 0 | — | — |
| Debt Issued | 1.00B | 500.00M | — | — | 0 | 0 | — | — | — | — | — | — |
| Financing Cash Flow | 493.00M | -876.00M | 776.00M | -432.00M | -4.18B | -858.00M | -1.54B | -210.00M | 4.00M | -232.00M | 30.00M | -213.00M |
| Net Change in Cash | 463.00M | 97.00M | 329.00M | -573.00M | -4.66B | 625.00M | -994.00M | 361.00M | -225.00M | -921.00M | -209.00M | 339.00M |
| Free Cash Flow | -288.00M | 788.00M | -564.00M | -391.00M | -259.00M | 333.00M | 16.00M | -404.00M | -517.00M | -687.00M | -283.00M | -226.00M |
This table shows 12 quarterly periods of Southwest Airlines's cash flow statement, from Q2 2026 back to Q3 2023, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow LUV's reporting calendar. What is a cash flow statement?