LUV NYSE
Southwest Airlines Co.
1W: +10.5%
1M: +0.4%
3M: -7.0%
YTD: +5.2%
1Y: +37.8%
3Y: +87.6%
5Y: -6.2%
$43.44
+0.59 (+1.38%)
After Hours: $43.68 (+0.24, +0.55%)
Weekly Expected Move ±4.9%
$38
$40
$42
$44
$46
Credit Risk of going bust: higher than 52% of companies Debt: 24.7% of company value Bonds: $179.5M held by 196 funds, 70 bp over Treasuries → details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.35 (down 97%), Southwest Airlines Co. would be worth roughly what it owes.
Total debt $6.87B against a stock market value of $20.96B.
Distance to default 4.90 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $4.02B (short-term plus half of long-term), stock volatility 43.4%; Altman Z'' 0.90. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $1.35 (down 97%), Southwest Airlines Co. would be worth roughly what it owes.
Total debt $6.87B against a stock market value of $20.96B.
Distance to default 4.90 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $4.02B (short-term plus half of long-term), stock volatility 43.4%; Altman Z'' 0.90. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Total Assets
$29.1B
-13.9% ▼
5Y CAGR: -3.4%
Total Liabilities
$21.1B
-9.9% ▼
5Y CAGR: -3.9%
Shareholders Equity
$8.0B
-22.9% ▼
5Y CAGR: -2.1%
Cash & Investments
$3.2B
-63.0% ▼
5Y CAGR: -24.7%
Total Debt
$6.0B
-25.8% ▼
5Y CAGR: -13.3%
Net Debt
$2.8B
+400.9% ▲
Assets vs Liabilities & Equity
Year-over-Year Growth
View Full Balance Sheet
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Assets — | |||||
| Cash | $12.5B | $9.5B | $9.3B | $7.5B | $3.2B |
| Short-Term Investments | $3.0B | $2.8B | $2.2B | $1.2B | $0 |
| Cash & ST Investments | $15.5B | $12.3B | $11.5B | $8.7B | $3.2B |
| Net Receivables | $1.4B | $1.0B | $1.2B | $1.1B | $1.1B |
| Inventory | $537M | $790M | $807M | $800M | $775M |
| Other Current Assets | $638M | $686M | $520M | $639M | $490M |
| Total Current Assets | $18.0B | $14.8B | $14.0B | $11.3B | $5.6B |
| Property, Plant & Equip. | $16.4B | $18.7B | $20.6B | $20.4B | $21.3B |
| Goodwill & Intangibles | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B |
| Long-Term Investments | $0 | $235M | $280M | $367M | $457M |
| Other Non-Current Assets | $587M | $324M | $388M | $414M | $359M |
| Total Non-Current Assets | $18.3B | $20.6B | $22.5B | $22.5B | $23.4B |
| Total Assets | $36.3B | $35.4B | $36.5B | $33.8B | $29.1B |
| — Liabilities — | |||||
| Accounts Payable | $156M | $277M | $265M | $339M | $389M |
| Short-Term Debt | $371M | $42M | $29M | $1.6B | $324M |
| Deferred Revenue | $5.6B | $6.1B | $6.6B | $6.3B | $5.9B |
| Other Current Liabilities | $1.3B | $1.7B | $3.0B | $1.4B | $1.6B |
| Total Current Liabilities | $9.2B | $10.4B | $12.3B | $12.3B | $10.9B |
| Long-Term Debt | $9.9B | $7.9B | $8.0B | $5.1B | $4.6B |
| Other Non-Current Liab. | $1.2B | $969M | $981M | $909M | $877M |
| Total Non-Current Liabilities | $16.7B | $14.3B | $13.7B | $11.1B | $10.2B |
| Total Liabilities | $25.9B | $24.7B | $26.0B | $23.4B | $21.1B |
| — Equity — | |||||
| Common Stock | $888M | $888M | $888M | $888M | $888M |
| Retained Earnings | $15.8B | $16.3B | $16.3B | $16.3B | $16.4B |
| Accumulated OCI | $388M | $344M | $0 | -$25M | -$24M |
| Total Stockholders Equity | $10.4B | $10.7B | $10.5B | $10.3B | $8.0B |
| Total Liabilities & Equity | $36.3B | $35.4B | $36.5B | $33.8B | $29.1B |
| — Key Metrics — | |||||
| Total Debt | $12.3B | $9.5B | $9.2B | $8.1B | $6.0B |
| Net Debt | -$199M | -$19M | -$88M | $549M | $2.8B |
| Total Investments | $3.0B | $3.0B | $2.5B | $1.6B | $457M |