LUVSouthwest Airlines

Industrials · Airlines · NYSE

Southwest Airlines Co. (the “Company” or “Southwest”) operates Southwest Airlines, a major passenger airline that provides scheduled air transportation in the United States and near-international markets. 10-K, Item 1

Headquarters: Dallas, TX
CEO: Robert E. Jordan
Next results: around Jan 27, 2027

Compare with peers → Embed

RevenueFY2016–25 $28.1B+2.1% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $441.0M−5.2% FY2024: $465.0M 10-K FY2025 · XBRL Free cash flowFY2016–25 −$831.0M FY2024: −$1.6B 10-K FY2025 · XBRL Operating marginFY2016–25 1.5%+0.4 pts 17.2% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 5, 2026 against Feb 7, 2025

Area	What changed	Source
Risk factors	18 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Receivables growing faster than revenue	Receivables +108.5% vs revenue +2.1% (+106.4 pts)	10-K · XBRL
Accounting checks	8 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	3 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 5, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-07. Quoted as filed.

The Company’s ability to mitigate the impact of fuel price increases or volatility through increased fares or fees could also be limited by the competitive nature of the airline industry and the unpredictability of the market for air travel. Passengers often purchase tickets well in advance of their travel, and the Company may not be…
10-K, Item 1A

All 18 new paragraphs →

Accounting checks

latest 10-K

8 of 9 clear 1 worth a look. Checks, not verdicts.

!
Receivables growing faster than revenueReceivables +108.5% vs revenue +2.1% (+106.4 pts)
✓
Cash from operations $1.8B vs net income $441.0M (FY ending 2025-12-31)
✓
Same auditor in both 10-Ks: Ernst & Young LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Nov 2, 20268-K Material agreement signed, New debt or obligation, Other events 8-K items 1.01, 2.03, 8.01
Oct 22, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026
Oct 21, 20268-K Quarterly results 8-K item 2.02

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