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 Southwest Airlines Company (LUV) reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
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. For the full cash flow conversion analysis, see Southwest Airlines Company cash flow conversion.
Annual Financial Flexibility Index for Southwest Airlines Company (1989–2025)
Year-by-year free cash flow to debt coverage for Southwest Airlines Company. Explore debt repayment capacity of Southwest Airlines Company to assess how comfortably operating cash covers total debt obligations.
| 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 | — |