Southwest Airlines Company (LUV) — Free Cash Flow Generation Index
Southwest Airlines Company (LUV) has a Free Cash Flow Generation Index of 0.56x as of March 2026. Free cash flow of $788.00 Million represents 1% of operating cash flow ($1.42 Billion). Read LUV total liabilities for a breakdown of total debt and financial obligations.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Southwest Airlines Company Free Cash Flow Generation Index (1989–2025)
Historical FCF Generation Index trend for Southwest Airlines Company across 35 annual periods. Explore LUV capital reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
Annual Free Cash Flow Generation for Southwest Airlines Company (1989–2025)
Year-by-year Free Cash Flow Generation Index for Southwest Airlines Company. For the full company profile including market capitalisation, see Southwest Airlines Company stock valuation.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | -0.45x | $-831.00 Million | $1.84 Billion | $2.67 Billion | ▲ +87.1% |
| 2024 | -3.50x | $-1.62 Billion | $462.00 Million | $2.08 Billion | ▼ -2748.5% |
| 2023 | -0.12x | $-389.00 Million | $3.16 Billion | $3.55 Billion | ▼ -198.7% |
| 2022 | -0.04x | $-156.00 Million | $3.79 Billion | $3.95 Billion | ▼ -105.3% |
| 2021 | 0.78x | $1.81 Billion | $2.32 Billion | $511.00 Million | ▲ +5.1% |
| 2019 | 0.74x | $2.96 Billion | $3.99 Billion | $1.03 Billion | ▲ +24.5% |
| 2018 | 0.60x | $2.92 Billion | $4.89 Billion | $1.98 Billion | ▲ +39.4% |
| 2017 | 0.43x | $1.68 Billion | $3.93 Billion | $2.25 Billion | ▼ -14.5% |
| 2016 | 0.50x | $2.15 Billion | $4.29 Billion | $2.15 Billion | ▲ +47.8% |
| 2015 | 0.34x | $1.09 Billion | $3.24 Billion | $2.14 Billion | ▼ -8.6% |
| 2014 | 0.37x | $1.07 Billion | $2.90 Billion | $1.83 Billion | ▼ -11.6% |
| 2013 | 0.42x | $1.04 Billion | $2.49 Billion | $1.45 Billion | ▲ +20.7% |
| 2012 | 0.35x | $716.00 Million | $2.06 Billion | $1.35 Billion | ▲ +15.2% |
| 2011 | 0.30x | $417.00 Million | $1.39 Billion | $968.00 Million | ▼ -56.0% |
| 2010 | 0.68x | $1.07 Billion | $1.56 Billion | $493.00 Million | ▲ +68.5% |
| 2009 | 0.41x | $400.00 Million | $985.00 Million | $585.00 Million | ▼ -23.7% |
| 2007 | 0.53x | $1.51 Billion | $2.85 Billion | $1.33 Billion | ▲ +10588.8% |
| 2006 | 0.00x | $7.00 Million | $1.41 Billion | $1.40 Billion | ▼ -98.9% |
| 2005 | 0.46x | $1.02 Billion | $2.23 Billion | $1.21 Billion | ▲ +185.6% |
| 2004 | -0.53x | $-618.00 Million | $1.16 Billion | $1.77 Billion | ▼ -828.2% |
| 2003 | 0.07x | $98.00 Million | $1.34 Billion | $1.24 Billion | ▲ +146.1% |
| 2002 | -0.16x | $-82.85 Million | $520.21 Million | $603.06 Million | ▼ -148.6% |
| 2001 | 0.33x | $486.76 Million | $1.48 Billion | $997.84 Million | ▲ +160.1% |
| 2000 | 0.13x | $163.64 Million | $1.30 Billion | $1.13 Billion | ▲ +176.0% |
| 1999 | -0.17x | $-166.12 Million | $1.00 Billion | $1.17 Billion | ▼ -141.1% |
| 1998 | -0.07x | $-60.96 Million | $886.13 Million | $947.10 Million | ▲ +46.4% |
| 1997 | -0.13x | $-78.34 Million | $610.59 Million | $688.93 Million | ▼ -26.9% |
| 1996 | -0.10x | $-62.20 Million | $615.23 Million | $677.43 Million | ▲ +83.0% |
| 1995 | -0.60x | $-272.20 Million | $456.44 Million | $728.64 Million | ▲ +34.5% |
| 1994 | -0.91x | $-375.98 Million | $412.67 Million | $788.65 Million | ▼ -172.1% |
| 1993 | -0.33x | $-131.50 Million | $392.70 Million | $524.20 Million | ▲ +38.8% |
| 1992 | -0.55x | $-144.70 Million | $264.50 Million | $409.20 Million | ▲ +76.3% |
| 1991 | -2.31x | $-237.90 Million | $103.20 Million | $341.10 Million | ▼ -25.3% |
| 1990 | -1.84x | $-205.80 Million | $111.90 Million | $317.70 Million | ▼ -229.0% |
| 1989 | -0.56x | $-93.90 Million | $168.00 Million | $261.90 Million | — |