Southwest Airlines annual net debt
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Southwest Airlines Net Debt Growth & History (LUV)
Southwest Airlines's net debt was $2.77B for fiscal 2025.
View full Southwest Airlines company overviewSouthwest Airlines annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $2.77B | $2.21B | +399.64% |
| 2024 | 2024-12-31 | $554.0M | $626.0M | — |
| 2023 | 2023-12-31 | −$72.0M | −$34.0M | — |
| 2022 | 2022-12-31 | −$38.0M | $132.0M | — |
| 2021 | 2021-12-31 | −$170.0M | −$1.36B | — |
| 2020 | 2020-12-31 | $1.19B | −$275.0M | −18.82% |
| 2019 | 2019-12-31 | $1.46B | −$81.0M | −5.25% |
| 2018 | 2018-12-31 | $1.54B | −$656.0M | −29.85% |
| 2017 | 2017-12-31 | $2.20B | $468.0M | +27.05% |
| 2016 | 2016-12-31 | $1.73B | $115.0M | +7.12% |
| 2015 | 2015-12-31 | $1.61B | $184.0M | +12.86% |
| 2014 | 2014-12-31 | $1.43B | −$56.0M | −3.77% |
| 2013 | 2013-12-31 | $1.49B | −$575.0M | −27.89% |
| 2012 | 2012-12-31 | $2.06B | −$902.0M | −30.43% |
| 2011 | 2011-12-31 | $2.96B | $845.0M | +39.88% |
| 2010 | 2010-12-31 | $2.12B | −$282.0M | −11.75% |
| 2009 | 2009-12-31 | $2.40B | $108.0M | +4.71% |
| 2008 | 2008-12-31 | $2.29B | — | — |
Southwest Airlines quarterly net debt
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| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $942.0M | −$902.0M | −48.92% |
| Q1 2026 | 2026-03-31 | $2.22B | $4.96B | — |
| Q4 2025 | 2025-12-31 | $2.77B | $2.21B | +399.64% |
| Q3 2025 | 2025-09-30 | $2.33B | $4.67B | — |
| Q2 2025 | 2025-06-30 | $1.84B | $3.81B | — |
| Q1 2025 | 2025-03-31 | −$2.75B | −$3.51B | — |
| Q4 2024 | 2024-12-31 | $554.0M | $626.0M | — |
| Q3 2024 | 2024-09-30 | −$2.34B | −$2.08B | — |
| Q2 2024 | 2024-06-30 | −$1.96B | −$2.10B | — |
| Q1 2024 | 2024-03-31 | $766.0M | −$219.0M | −22.23% |
| Q4 2023 | 2023-12-31 | −$72.0M | −$34.0M | — |
| Q3 2023 | 2023-09-30 | −$254.0M | $458.0M | — |
| Q2 2023 | 2023-06-30 | $139.0M | $3.03B | — |
| Q1 2023 | 2023-03-31 | $985.0M | $2.26B | — |
| Q4 2022 | 2022-12-31 | −$38.0M | $132.0M | — |
| Q3 2022 | 2022-09-30 | −$712.0M | −$322.0M | — |
| Q2 2022 | 2022-06-30 | −$2.90B | $95.0M | — |
| Q1 2022 | 2022-03-31 | −$1.27B | −$1.86B | — |
| Q4 2021 | 2021-12-31 | −$170.0M | −$1.36B | — |
| Q3 2021 | 2021-09-30 | −$390.0M | −$156.0M | — |
| Q2 2021 | 2021-06-30 | −$2.99B | −$1.37B | — |
| Q1 2021 | 2021-03-31 | $589.0M | $975.0M | — |
| Q4 2020 | 2020-12-31 | $1.19B | −$275.0M | −18.82% |
| Q3 2020 | 2020-09-30 | −$234.0M | −$1.49B | — |
| Q2 2020 | 2020-06-30 | −$1.62B | −$3.05B | — |
| Q1 2020 | 2020-03-31 | −$386.0M | −$2.15B | — |
| Q4 2019 | 2019-12-31 | $1.46B | −$81.0M | −5.25% |
| Q3 2019 | 2019-09-30 | $1.26B | $260.0M | +26.10% |
| Q2 2019 | 2019-06-30 | $1.43B | $384.0M | +36.89% |
| Q1 2019 | 2019-03-31 | $1.77B | $364.0M | +25.91% |
| Q4 2018 | 2018-12-31 | $1.54B | −$656.0M | −29.85% |
| Q3 2018 | 2018-09-30 | $996.0M | −$307.0M | −23.56% |
| Q2 2018 | 2018-06-30 | $1.04B | −$210.0M | −16.79% |
| Q1 2018 | 2018-03-31 | $1.41B | $475.0M | +51.08% |
| Q4 2017 | 2017-12-31 | $2.20B | $468.0M | +27.05% |
| Q3 2017 | 2017-09-30 | $1.30B | $946.0M | +264.99% |
| Q2 2017 | 2017-06-30 | $1.25B | $900.0M | +256.41% |
| Q1 2017 | 2017-03-31 | $930.0M | $963.0M | — |
| Q4 2016 | 2016-12-31 | $1.73B | $115.0M | +7.12% |
| Q3 2016 | 2016-09-30 | $357.0M | −$284.0M | −44.31% |
| Q2 2016 | 2016-06-30 | $351.0M | −$288.0M | −45.07% |
| Q1 2016 | 2016-03-31 | −$33.0M | −$424.0M | — |
| Q4 2015 | 2015-12-31 | $1.61B | $184.0M | +12.86% |
| Q3 2015 | 2015-09-30 | $641.0M | $348.0M | +118.77% |
| Q2 2015 | 2015-06-30 | $639.0M | $368.0M | +135.79% |
| Q1 2015 | 2015-03-31 | $391.0M | −$40.0M | −9.28% |
| Q4 2014 | 2014-12-31 | $1.43B | −$56.0M | −3.77% |
| Q3 2014 | 2014-09-30 | $293.0M | −$1.25B | −81.00% |
| Q2 2014 | 2014-06-30 | $271.0M | −$1.17B | −81.25% |
| Q1 2014 | 2014-03-31 | $431.0M | −$1.22B | −73.88% |
| Q4 2013 | 2013-12-31 | $1.49B | −$575.0M | −27.89% |
| Q3 2013 | 2013-09-30 | $1.54B | −$516.0M | −25.07% |
| Q2 2013 | 2013-06-30 | $1.45B | −$748.0M | −34.11% |
| Q1 2013 | 2013-03-31 | $1.65B | −$99.0M | −5.66% |
| Q4 2012 | 2012-12-31 | $2.06B | −$902.0M | −30.43% |
| Q3 2012 | 2012-09-30 | $2.06B | −$1.13B | −35.49% |
| Q2 2012 | 2012-06-30 | $2.19B | −$444.0M | −16.84% |
| Q1 2012 | 2012-03-31 | $1.75B | $455.0M | +35.16% |
| Q4 2011 | 2011-12-31 | $2.96B | $845.0M | +39.88% |
| Q3 2011 | 2011-09-30 | $3.19B | $758.0M | +31.17% |
| Q2 2011 | 2011-06-30 | $2.64B | $179.0M | +7.28% |
| Q1 2011 | 2011-03-31 | $1.29B | −$1.07B | −45.29% |
| Q4 2010 | 2010-12-31 | $2.12B | −$282.0M | −11.75% |
| Q3 2010 | 2010-09-30 | $2.43B | −$242.0M | −9.05% |
| Q2 2010 | 2010-06-30 | $2.46B | $21.0M | +0.86% |
| Q1 2010 | 2010-03-31 | $2.37B | −$100.0M | −4.06% |
| Q4 2009 | 2009-12-31 | $2.40B | $108.0M | +4.71% |
| Q3 2009 | 2009-09-30 | $2.67B | — | — |
| Q2 2009 | 2009-06-30 | $2.44B | — | — |
| Q1 2009 | 2009-03-31 | $2.46B | — | — |
| Q4 2008 | 2008-12-31 | $2.29B | — | — |
Southwest Airlines net debt trends
Over the last five fiscal years, Southwest Airlines's net debt increased from $1.19B to $2.77B, a change of $1.58B. The latest reported quarter, Q2 2026, shows $942.0M.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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