Southwest Airlines Company (LUV) — 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). Check asset allocation strategy of Southwest Airlines Company to assess the company's strategic physical and investment asset allocation.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Southwest Airlines Company Financial Flexibility Index (1989–2025)
Historical Financial Flexibility Index trend for Southwest Airlines Company across 37 annual periods. See Southwest Airlines Company current assets vs equity to evaluate short-term liquidity relative to the company's equity base.
Annual Financial Flexibility Index for Southwest Airlines Company (1989–2025)
Year-by-year free cash flow to debt coverage for Southwest Airlines Company. For the full company profile including market capitalisation, see LUV market cap overview.
| 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 | — |