Southwest Airlines Company Financial Flexibility Index
Southwest Airlines Company financial flexibility index. Southwest Airlines Company (LUV) has a Financial Flexibility Index of 0.09x as of March 2026. Free cash flow of $2.05 Billion (operating CF $1.42 Billion minus capex $630.00 Million) represents 0% of total liabilities ($22.48 Billion). Explore LUV capex reinvestment rate to see what proportion of operating cash flow is directed to capital expenditures.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Financial Flexibility Index of Southwest Airlines Company (1989–2025)
Financial flexibility index of Southwest Airlines Company from 1989 to 2025. Historical Financial Flexibility Index trend for Southwest Airlines Company across 37 annual periods. Check cash flow reinvestment rate of Southwest Airlines Company to assess the company's total reinvestment commitment from operating cash flow.
Southwest Airlines Company Financial Flexibility Index by Year (1989–2025)
Southwest Airlines Company financial flexibility index by year from 1989 to 2025. Year-by-year free cash flow to debt coverage for Southwest Airlines Company. For the full cash flow conversion analysis, see how efficiently does Southwest Airlines Company generate cash.
| Year | Flexibility Index | Free Cash Flow (USD) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.21x | $4.51 Billion | $1.84 Billion | $21.08 Billion | ▲ +97.2% |
| 2024 | 0.11x | $2.54 Billion | $462.00 Million | $23.40 Billion | ▼ -58.0% |
| 2023 | 0.26x | $6.72 Billion | $3.16 Billion | $25.97 Billion | ▼ -17.5% |
| 2022 | 0.31x | $7.74 Billion | $3.79 Billion | $24.68 Billion | ▲ +186.6% |
| 2021 | 0.11x | $2.83 Billion | $2.32 Billion | $25.91 Billion | ▲ +559.4% |
| 2020 | -0.02x | $-612.00 Million | $-1.13 Billion | $25.71 Billion | ▼ -107.6% |
| 2019 | 0.31x | $5.01 Billion | $3.99 Billion | $16.06 Billion | ▼ -25.5% |
| 2018 | 0.42x | $6.87 Billion | $4.89 Billion | $16.39 Billion | ▼ -0.4% |
| 2017 | 0.42x | $6.18 Billion | $3.93 Billion | $14.68 Billion | ▼ -3.0% |
| 2016 | 0.43x | $6.44 Billion | $4.29 Billion | $14.85 Billion | ▲ +12.5% |
| 2015 | 0.39x | $5.38 Billion | $3.24 Billion | $13.95 Billion | ▲ +8.3% |
| 2014 | 0.36x | $4.73 Billion | $2.90 Billion | $13.29 Billion | ▲ +8.6% |
| 2013 | 0.33x | $3.94 Billion | $2.49 Billion | $12.01 Billion | ▲ +11.7% |
| 2012 | 0.29x | $3.41 Billion | $2.06 Billion | $11.62 Billion | ▲ +39.6% |
| 2011 | 0.21x | $2.35 Billion | $1.39 Billion | $11.19 Billion | ▼ -5.6% |
| 2010 | 0.22x | $2.05 Billion | $1.56 Billion | $9.23 Billion | ▲ +24.8% |
| 2009 | 0.18x | $1.57 Billion | $985.00 Million | $8.80 Billion | ▲ +379.0% |
| 2008 | -0.06x | $-598.00 Million | $-1.52 Billion | $9.36 Billion | ▼ -115.0% |
| 2007 | 0.42x | $4.18 Billion | $2.85 Billion | $9.83 Billion | ▲ +6.2% |
| 2006 | 0.40x | $2.81 Billion | $1.41 Billion | $7.01 Billion | ▼ -12.2% |
| 2005 | 0.46x | $3.44 Billion | $2.23 Billion | $7.54 Billion | ▼ -9.6% |
| 2004 | 0.50x | $2.93 Billion | $1.16 Billion | $5.81 Billion | ▼ -5.4% |
| 2003 | 0.53x | $2.57 Billion | $1.34 Billion | $4.83 Billion | ▲ +115.2% |
| 2002 | 0.25x | $1.12 Billion | $520.21 Million | $4.53 Billion | ▼ -50.2% |
| 2001 | 0.50x | $2.48 Billion | $1.48 Billion | $4.98 Billion | ▼ -34.1% |
| 2000 | 0.76x | $2.43 Billion | $1.30 Billion | $3.22 Billion | ▼ -1.9% |
| 1999 | 0.77x | $2.17 Billion | $1.00 Billion | $2.82 Billion | ▼ -2.6% |
| 1998 | 0.79x | $1.83 Billion | $886.13 Million | $2.32 Billion | ▲ +36.1% |
| 1997 | 0.58x | $1.30 Billion | $610.59 Million | $2.24 Billion | ▼ -6.7% |
| 1996 | 0.62x | $1.29 Billion | $615.23 Million | $2.08 Billion | ▼ -3.9% |
| 1995 | 0.65x | $1.19 Billion | $456.44 Million | $1.83 Billion | ▼ -14.5% |
| 1994 | 0.76x | $1.20 Billion | $412.67 Million | $1.58 Billion | ▲ +25.9% |
| 1993 | 0.60x | $916.90 Million | $392.70 Million | $1.52 Billion | ▲ +28.7% |
| 1992 | 0.47x | $673.70 Million | $264.50 Million | $1.44 Billion | ▲ +27.4% |
| 1991 | 0.37x | $444.30 Million | $103.20 Million | $1.21 Billion | ▼ -25.9% |
| 1990 | 0.50x | $429.60 Million | $111.90 Million | $866.20 Million | ▼ -4.5% |
| 1989 | 0.52x | $429.90 Million | $168.00 Million | $827.80 Million | — |