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Screener / SEC EDGAR /CIK 0000092380 /10-K filed Feb 5, 2026, compared with Feb 7, 2025 /Numbers from the XBRL of the 10-Ks
Industrials peers:
UNPETNLUVFERGCMIPCAR
NYSE Industrials · Airlines

Southwest Airlines LUV

LUV quote by TradingView

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

LUV among Industrials peers

Six ratios from the latest 10-K. Each corner is the share of 81 peers the company is above, not a score.

Compare
Revenue growth: 2.1%, above 31% of 81 peers (their median 4.9%) REVENUE GROWTH 2.1% · above 31% Operating margin: 4.4%, above 3% of 71 peers (their median 17.5%) OPERATING MARGIN 4.4% · above 3% Net margin: 3.3%, above 2% of 81 peers (their median 13.0%) NET MARGIN 3.3% · above 2% FCF margin: -1.4%, above 1% of 78 peers (their median 13.3%) FCF MARGIN -1.4% · above 1% Return on capital: 2.5%, above 2% of 65 peers (their median 14.2%) RETURN ON CAPITAL 2.5% · above 2%
LUV Peer median Below the median

What changed

18 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 5, 2026 against Feb 7, 2025.

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.

Accounting checks

9 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 8 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +108.5% vs revenue +2.1% (+106.4 pts)
  • Cash from operations $1.8B vs net income $441.0M (FY ending Dec 31, 2025)
7 more checks with nothing to note
  • 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

In their words

18 paragraphs in Risk Factors that were not in the 10-K filed Feb 7, 2025. Quoted as filed.

All 18 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 7, 2025 10-K, ITEM 1A
    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…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 7, 2025 10-K, ITEM 1A
    The Company may not be able to procure aircraft in the future in a timely manner or on favorable commercial terms, which could limit the Company’s growth or negatively affect the Company’s cost structure and competitive position. The Company’s ability to execute its growth, fleet modernization, and strategic and operational plans may be…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 7, 2025 10-K, ITEM 1A
    The Company is expanding its use of AI and machine-learning. Any failure in the Company’s AI implementation strategy, compliance with regulations, or failure to otherwise manage the risks related to AI technologies effectively could materially adversely affect its operations, reputation, and/or financial position.
  4. Item 1A · new paragraph · not in the 10-K filed Feb 7, 2025 10-K, ITEM 1A
    The Company has voluntarily set near- and long-term environmental sustainability plans and goals, and any failure or perception of failure to meet or adequately progress against its sustainability plans or goals, which are often aspirational, or any modifications to such goals could adversely affect the Company’s reputation and brand.…

New risk paragraphs, against peers

Latest 10-K of each, Industrials companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$23.8B$26.1B$27.5B$28.1B
Net income$539.0M$465.0M$465.0M$441.0M
Operating cash flow$3.8B$3.2B$462.0M$1.8B
Free cash flow−$134.0M−$356.0M−$1.6B−$831.0M

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$28.1B ▲ 2.1% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

3 filings in the last 30 days · SEC EDGAR

All filings

About the company

Southwest Airlines, Dallas, TX · from the 10-K filed Feb 5, 2026

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. Southwest commenced service on June 18, 1971, with three Boeing 737 aircraft serving three Texas cities: Dallas, Houston, and San Antonio. Southwest’s unique route network, competitive fares, and famous Hospitality continue to make the Company an attractive choice for Customers in cities across the United States and near-international destinations.

Headquarters
Dallas, TX
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 21, 2026
Incorporated in
TX

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Sources

The 10-K filed Feb 5, 2026 (open at SEC), compared with the 10-K filed Feb 7, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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