LUV
Southwest Airlines Co Industrials Air Transportation, Scheduled S&P 500Russell 3000
$42.43Close
$37.7BMarket cap
$29.15 – $54.0752-week range
Mid-januaryNext report · estimated
Highlights
Strengths
- Accumulation up-day volume 1.6× down-day volume over 50 sessions
- Earnings growing EPS +432% year on year, faster than the quarter before (+412 pts)
Cautions
- Not in an uptrend 4 of 8 trend conditions
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
22%
1wk
up 1.6%
price change
1mo
up 1.9%
price change
12-month return
up 44%
market up 11% ·
its own up 30%
F-score
—
— Not assessed
Altman Z″
1.14
Moderate risk
P/E
85.4×
price / earnings
PEG
9.20
P/E / EPS growth
P/B
4.7×
price / book
Earnings yield
up 1.1%
EBIT / enterprise value
Cheaper than
29%
of the market · expensive
Revenue growth
up 2%
year on year
EPS growth
up 432%
latest quarter · +412 pts
Sales growth
up 21%
latest quarter · +5 pts
ROE
up 5%
return on equity
Free cash margin
down 3%
-$831.0M FCF
D/E
0.62
long-term debt / equity
Net debt / EBITDA
0.8×
Interest cover
—EBIT / interest
Piotroski tests
Repair signals
- Long-term debt down 27% ($6.7B → $4.9B)
Trade setup
ATR%
3.5%
$1.50 a day · 2×ATR $39.43
RS
52 / 99
vs the universe
Trend
4 / 8
trend template
Relative volume
0.7×
vs 50-day average
Up/down volume
1.56
50 sessions
Implied move
—
no scheduled report
Trend template · 4 of 8
- Price above the 150 and 200-day averages: fails
- 150-day average above the 200-day: fails
- 200-day average rising for a month: passes
- 50-day average above the 150 and 200-day: fails
- Price above the 50-day average: passes
- At least 30% above the 52-week low: passes
- Within 25% of the 52-week high: passes
- RS rank 70 or higher: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- No restatement or impairment
- Equity positive
- Interest covered
- No material dilution
- Profits tracking cash
- Margins and revenue not shrinking
Last reported
Oct 21, 2026
Results reaction
Oct 21, 2026+7% vs market2 sessions after results
Options
$924,42643.7% IV · activity
Financials
- Net 2%
- Free cash -3%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $9.0B | $15.8B | $23.8B | $26.1B | $27.5B | $28.1B |
| Operating income | -$3.8B | $1.7B | $1.0B | $224.0M | $321.0M | $428.0M |
| Net income | -$3.1B | $977.0M | $539.0M | $465.0M | $465.0M | $441.0M |
| Net margin | -34% | 6% | 2% | 2% | 2% | 2% |
| Earnings per share | -$5.44 | $1.60 | $0.84 | $0.73 | $0.72 | $0.79 |
| Free cash flow | -$1.6B | $1.8B | -$134.0M | -$356.0M | -$1.6B | -$831.0M |
| Free cash margin | -18% | 12% | -1% | -1% | -6% | -3% |
| Cash | $11.1B | $12.5B | $9.5B | $9.3B | $7.5B | $3.2B |
| Long-term debt | $10.4B | $10.8B | $8.1B | $8.0B | $6.7B | $4.9B |
| Shareholders' equity | $8.9B | $10.4B | $10.7B | $10.5B | $10.3B | $8.0B |
| Shares outstanding | 888.11m | 888.11m | 888.11m | 888.11m | 888.11m | 888.11m |
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $38 – $46 ±9.4% by Nov 27, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- Bigger 43.7% priced · 36.8% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- Choppier
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: costs more
Positioning
- Premium traded
- $924,426 calls $319,301 · puts $605,125 · latest session
- 1.90× +1.32 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls -10.17k · puts -7.34k past week
For options traders: ATM IV 43.7% (+0.7% 1w) · 1m ÷ 3m IV 1.07 · 25Δ skew 4.1 pts · Net GEX $1.0M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Oct 22, 2026 | Quarterly ↗ | Sep 30, 2026 | 22d |
| Jul 23, 2026 | Quarterly ↗ | Jun 30, 2026 | 23d |
| Apr 23, 2026 | Quarterly ↗ | Mar 31, 2026 | 23d |
| Feb 5, 2026 | Annual ↗ | Dec 31, 2025 | 36d |
| Oct 23, 2025 | Quarterly ↗ | Sep 30, 2025 | 23d |
| Jul 24, 2025 | Quarterly ↗ | Jun 30, 2025 | 24d |
| Apr 25, 2025 | Quarterly ↗ | Mar 31, 2025 | 25d |
| Feb 7, 2025 | Annual ↗ | Dec 31, 2024 | 38d |
| Oct 28, 2024 | Quarterly ↗ | Sep 30, 2024 | 28d |
| Jul 29, 2024 | Quarterly ↗ | Jun 30, 2024 | 29d |
| Apr 26, 2024 | Quarterly ↗ | Mar 31, 2024 | 26d |
| Feb 6, 2024 | Annual ↗ | Dec 31, 2023 | 37d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 21, 2026 | Results ↗ |
| Aug 12, 2026 | Material agreement · Agreement ended · New obligation ↗ |
| Aug 10, 2026 | Director or officer change ↗ |
| Aug 7, 2026 | Director or officer change ↗ |
| Jul 22, 2026 | Results ↗ |
| May 19, 2026 | Material agreement · New obligation ↗ |
| May 11, 2026 | Shareholder vote ↗ |
| Apr 22, 2026 | Results ↗ |
| Mar 12, 2026 | Material agreement · New obligation ↗ |
| Feb 10, 2026 | Director or officer change ↗ |
| Jan 28, 2026 | Results ↗ |
| Dec 5, 2025 | Regulation FD ↗ |