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Southwest Airlines Co. (LUV)

Industrials | Airlines | Dallas, United States | NYSE
39.50 USD -1.33 (-3.257%) ⇩ (Oct. 16, 2026, 4 p.m. EDT)
After hours: 39.50
Short-term:★★⯪☆☆Long-term:★★⯪☆☆Dividends:★★⯪☆☆
Hot Take ↕ | Oct. 10, 2026, 7:23 a.m. EDT

Southwest Airlines presents a classic value trap scenario where the balance sheet and operational metrics tell a mixed story, while the market remains skeptical. Fundamentally, the company is showing signs of life with positive revenue growth (+16.4%) and a significant rebound in earnings (+20.5%), supported by a forward P/E of roughly 9.6x which implies a cheap valuation relative to current earnings power. However, the balance sheet remains a liability with a debt-to-equity ratio exceeding 97% and negative free cash flow, creating a fragile foundation for aggressive expansion. The multi-year price trajectory confirms the market's hesitation; despite recent earnings improvements, the stock is still down roughly 21% over the last nine years, reflecting a persistent lack of confidence in the business model's ability to generate sustained capital returns. The dividend yield of 1.74% is modest and likely insufficient to offset the risk of capital erosion given the negative cash burn. While the stock is technically trading near its 200-day average and analysts are upgrading the outlook, the heavy put option flow suggests investors are hedging against further deterioration rather than betting on a reversal. Until the balance sheet stabilizes and free cash flow turns consistently positive, the investment case remains neutral.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
MSTL ✓0.102910
AutoETS0.106308
AutoARIMA0.106657
AutoTheta0.142235

Forecast horizon: 45 days | Selected: MSTL

Forecast Reliability
Score 43%
H-stat 10.00
Ljung-Box p 0.000
Jarque-Bera p 0.205
Excess Kurtosis -0.75
Attribute Value
Sector Industrials
Ex Dividend Date 2026-09-02
Last Dividend Date 2026-09-02
Debt to Equity Ratio 97.275
Revenue per Share 59.374
Market Cap 19,323,723,776
Trailing P/E 24.69
Forward P/E 9.12
Beta 1.16
Profit Margins 2.78%
Website https://www.southwest.com

As of Oct. 10, 2026, 7:23 a.m. EDT: Speculators are positioning defensively with heavy out-of-the-money put volume and open interest, particularly at strikes below the current price (e.g., 37.5, 40, 42.5), suggesting a fear of downside volatility. Conversely, call activity is concentrated near the money and slightly out-of-the-money (42.5, 45, 47.5), indicating a limited bullish bias focused on range-bound recovery rather than a breakout. The implied volatility skew shows elevated premiums for deep out-of-the-money puts relative to calls, reinforcing a 'crash protection' sentiment over a rally thesis.

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
0.46% 1.77% 2.14% 1.71%
Dividend History
Date Dividend Yield %
2026-09-03 0.180000 0.464756
2026-06-11 0.180000 0.406412
2026-03-12 0.180000 0.466200
2025-12-26 0.180000 0.436047
2025-09-03 0.180000 0.556758
2025-06-18 0.180000 0.577664
2025-03-12 0.180000 0.598007
2024-12-26 0.180000 0.526470
2024-09-04 0.180000 0.609963
2024-06-18 0.180000 0.633134
2024-03-05 0.180000 0.523104
2023-12-20 0.180000 0.619195
2023-09-05 0.180000 0.584985
2023-06-20 0.180000 0.522193
2023-03-07 0.180000 0.539407
2023-01-09 0.180000 0.505476
2020-03-03 0.180000 0.398142
2019-12-10 0.180000 0.327809
2019-08-20 0.180000 0.359856
2019-06-04 0.180000 0.367722
2019-03-05 0.160000 0.299682
2018-12-04 0.160000 0.303030
2018-08-21 0.160000 0.262295
2018-06-05 0.160000 0.314342
2018-03-06 0.125000 0.214592
2017-12-06 0.125000 0.204516
2017-08-22 0.125000 0.233951
2017-06-05 0.125000 0.204952
2017-03-07 0.100000 0.175963
2016-12-06 0.100000 0.209732
2016-08-16 0.100000 0.273823
2016-06-06 0.100000 0.239406
2016-03-01 0.075000 0.176471
2015-12-08 0.075000 0.166519
2015-08-18 0.075000 0.186614
2015-06-01 0.075000 0.198151
2015-03-03 0.060000 0.136488
2014-12-09 0.060000 0.147312
2014-08-19 0.060000 0.195122
2014-06-02 0.060000 0.224635
2014-03-04 0.040000 0.175208
2013-12-10 0.040000 0.215285
2013-08-06 0.040000 0.289017
2013-06-03 0.040000 0.285714
2013-03-05 0.010000 0.082576
2012-12-04 0.010000 0.103842
2012-08-14 0.010000 0.110988
2012-06-04 0.010000 0.116279
2012-02-28 0.005000 0.055866
2011-12-06 0.005000 0.058548
2011-08-23 0.005000 0.062422
2011-06-06 0.005000 0.044524
2011-03-01 0.005000 0.042699
2010-12-07 0.005000 0.038610
2010-08-24 0.005000 0.045413
2010-06-07 0.005000 0.042882
2010-03-02 0.005000 0.039588
2009-12-08 0.005000 0.049505
2009-09-01 0.005000 0.062344
2009-06-08 0.005000 0.073314
2009-02-24 0.005000 0.076103
2008-12-09 0.005000 0.060459
2008-08-26 0.005000 0.033852
2008-06-10 0.005000 0.035945
2008-02-26 0.005000 0.038610
2007-12-04 0.005000 0.036232
2007-08-28 0.005000 0.033333
2007-06-05 0.005000 0.035236
2007-02-27 0.005000 0.033113
2006-12-05 0.005000 0.031990
2006-08-29 0.005000 0.028736
2006-06-06 0.005000 0.031807
2006-02-28 0.005000 0.029815
2005-12-06 0.005000 0.030266
2005-08-30 0.005000 0.037651
2005-06-07 0.005000 0.034223
2005-03-01 0.005000 0.035211
2004-12-07 0.005000 0.031786
2004-08-31 0.005000 0.033738
2004-06-08 0.005000 0.031766
2004-03-02 0.005000 0.035920
2003-12-03 0.005000 0.028058
2003-08-29 0.005000 0.029257
2003-06-02 0.005000 0.030921
2003-03-04 0.005000 0.040552
2002-12-09 0.005000 0.031250
2002-08-30 0.005000 0.035186
2002-06-03 0.005000 0.030395
2002-02-27 0.005000 0.022738
2001-12-03 0.005000 0.027027
2001-08-31 0.005000 0.027949
2001-06-04 0.003000 0.015932
2001-02-28 0.005000 0.026882
2000-12-04 0.004000 0.019493
2000-09-01 0.004000 0.027119
2000-05-31 0.004000 0.031270
2000-03-01 0.004000 0.032877
1999-12-06 0.004000 0.035688
1999-08-30 0.003333 0.029409
1999-06-02 0.003556 0.025603
1999-03-03 0.003556 0.025810
1998-12-07 0.003556 0.035659
1998-08-31 0.003556 0.044918
1998-06-03 0.002963 0.036447
1998-03-04 0.002963 0.034262
1997-12-08 0.002963 0.040202
1997-08-29 0.002370 0.042850
1997-05-28 0.002370 0.044853
1997-02-26 0.002370 0.050254
1996-12-09 0.001975 0.041231
1996-08-30 0.001975 0.043949
1996-05-29 0.001975 0.035082
1996-02-28 0.001975 0.032782
1995-12-04 0.001975 0.039994
1995-09-01 0.001975 0.039018
1995-05-26 0.001975 0.046236
1995-02-27 0.001975 0.057545
1994-11-30 0.001975 0.047330
1994-08-30 0.001975 0.037031
1994-05-27 0.001975 0.036358
1994-02-28 0.001975 0.029299
1993-11-30 0.001975 0.028772
1993-08-30 0.001975 0.028981
1993-05-28 0.001975 0.036358
1993-02-26 0.001975 0.044111
1992-12-01 0.001975 0.054537
1992-08-31 0.001975 0.070577
1992-06-01 0.001778 0.061722
1992-02-28 0.001646 0.063489
1991-11-29 0.001646 0.086575
1991-08-29 0.001646 0.100497
1991-05-31 0.001646 0.097556
1991-03-01 0.001646 0.092587
1990-11-29 0.001646 0.147051
1990-09-06 0.001646 0.153838
1990-06-07 0.001536 0.133941
1990-03-05 0.001536 0.146563
1989-11-29 0.001536 0.155520
1989-09-01 0.001536 0.119631
1989-06-07 0.001536 0.139272
1989-03-06 0.001536 0.144297
1988-11-29 0.001536 0.185388
1988-09-02 0.001405 0.195467
1988-06-07 0.001405 0.184217
1988-03-04 0.001405 0.181604
1987-11-27 0.001405 0.232783
1987-09-02 0.001405 0.153330
1987-06-08 0.001405 0.160038
1987-03-04 0.001405 0.132674
1986-11-26 0.001405 0.139924
1986-09-03 0.001405 0.145489
1986-06-06 0.001405 0.149743
1986-03-05 0.001405 0.141470
1985-11-26 0.001405 0.117459
1985-09-04 0.001405 0.121934
1985-06-06 0.001405 0.118547
1985-03-06 0.001405 0.131990
1984-11-28 0.001405 0.153330
1984-09-05 0.001405 0.170708
1984-06-04 0.001405 0.139924
1984-03-07 0.001405 0.159044
1983-11-30 0.001405 0.127014
1983-09-02 0.001405 0.107049
1983-05-31 0.001405 0.110753
1983-03-09 0.001405 0.121241
1982-11-26 0.001405 0.148527
1982-09-03 0.001405 0.152417
1982-06-04 0.001405 0.223050
1982-03-09 0.001405 0.231940
1981-11-25 0.001405 0.256061
1981-09-02 0.001124 0.219231
1981-06-09 0.001124 0.144179
1981-03-10 0.001124 0.176351
1980-11-28 0.001124 0.238863
1980-09-30 0.001124 0.307766
1980-06-06 0.000749 0.290849
1980-03-03 0.000749 0.404981
Additional Data
dividendRate 0.72
dividendYield 1.82
exDividendDate 2026-09-03
trailingAnnualDividendRate 0.72
trailingAnnualDividendYield 0.017634092
lastDividendValue 0.18
lastDividendDate 2026-09-03
dividendDate 2026-09-24

Info Dump

Attribute Value
52 Week Change 0.1472553
Address1 P.O. Box 36611
All Time High 66.99
All Time Low 0.163877
Ask 39.58
Ask Size 400
Audit Risk 7
Average Analyst Rating 2.4 - Buy
Average Daily Volume10 Day 6,186,990
Average Daily Volume3 Month 5,528,298
Average Volume 5,528,298
Average Volume10Days 6,186,990
Beta 1.155
Bid 39.37
Bid Size 400
Board Risk 9
Book Value 14.476
City Dallas
Compensation As Of Epoch Date 1,483,142,400
Compensation Risk 5
Country United States
Crypto Tradeable 0
Currency USD
Current Price 39.5
Current Ratio 0.489
Custom Price Alert Confidence HIGH
Date Short Interest 1,790,726,400
Day High 41.25
Day Low 39.4501
Debt To Equity 97.275
Display Name Southwest Airlines
Dividend Date 1,790,208,000
Dividend Rate 0.72
Dividend Yield 1.82
Earnings Call Timestamp End 1,792,699,200
Earnings Call Timestamp Start 1,792,699,200
Earnings Growth 0.205
Earnings Quarterly Growth 0.094
Earnings Timestamp 1,792,612,800
Earnings Timestamp End 1,792,612,800
Earnings Timestamp Start 1,792,612,800
Ebitda 2,337,999,872
Ebitda Margins 0.07774
Enterprise To Ebitda 9.59
Enterprise To Revenue 0.746
Enterprise Value 22,421,723,136
Eps Current Year 2.81708
Eps Forward 4.3331
Eps Trailing Twelve Months 1.6
Esg Populated 0
Ex Dividend Date 1,788,393,600
Exchange NYQ
Exchange Data Delayed By 20
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fifty Day Average 41.1596
Fifty Day Average Change -1.6595993
Fifty Day Average Change Percent -0.040321074
Fifty Two Week Change Percent 14.725531
Fifty Two Week High 55.11
Fifty Two Week High Change -15.610001
Fifty Two Week High Change Percent -0.28325167
Fifty Two Week Low 29.26
Fifty Two Week Low Change 10.24
Fifty Two Week Low Change Percent 0.3499658
Fifty Two Week Range 29.26 - 55.11
Financial Currency USD
First Trade Date Milliseconds 315,671,400,000
Five Year Avg Dividend Yield 0.91
Float Shares 484,125,328
Forward Eps 4.3331
Forward P E 9.115876
Free Cashflow -834,750,016
Full Exchange Name NYSE
Full Time Employees 73,456
Fullday Change -1.3300018
Fullday Change Percent -3.2574131
Fullday Price 39.5
Gmt Off Set Milliseconds -14,400,000
Governance Epoch Date 1,790,812,800
Gross Margins 0.22399001
Gross Profits 6,736,000,000
Has Pre Post Market Data 1
Held Percent Insiders 0.0101
Held Percent Institutions 0.94611
Implied Shares Outstanding 489,208,201
Industry Airlines
Industry Disp Airlines
Industry Key airlines
Ir Website http://southwest.investorroom.com/
Is Earnings Date Estimate 0
Language en-US
Last Dividend Date 1,788,393,600
Last Dividend Value 0.18
Last Fiscal Year End 1,767,139,200
Last Split Date 982,281,600
Last Split Factor 3:2
Long Business Summary Southwest Airlines Co. operates as a passenger airline company that provides scheduled air transportation services in the United States and internationally. It also provides Rapid Rewards loyalty program; SWABIZ, an online booking tool; and inflight entertainment platform that includes movies-on-demand live and on-demand television, flight tracker, and additional curated content, as well as a variety of premium snacks and coffee. In addition, the company offers ancillary services, such as in-flight purchases, baggage fees, EarlyBird Check-In, and upgraded boarding, as well as transportation of pets and unaccompanied minors. As of December 31, 2025, the company operated a total fleet of 803 Boeing 737 aircraft; and served 117 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos. Southwest Airlines Co. was incorporated in 1967 and is headquartered in Dallas, Texas.
Long Name Southwest Airlines Co.
Market us_market
Market Cap 19,323,723,776
Market State CLOSED
Max Age 86,400
Message Board Id finmb_31726
Most Recent Quarter 1,782,777,600
Net Income To Common 837,000,000
Next Fiscal Year End 1,798,675,200
Non Diluted Market Cap 20,585,881,098
Number Of Analyst Opinions 23
Open 40.91
Operating Cashflow 2,528,000,000
Operating Margins 0.033800002
Overall Risk 4
Payout Ratio 0.45
Peg Ratio 0.19
Phone 214 792 4000
Post Market Change 0.0
Post Market Change Percent 0.0
Post Market Price 39.5
Post Market Time 1,792,191,439
Previous Close 40.83
Price Eps Current Year 14.021611
Price Hint 2
Price To Book 2.7286544
Price To Sales Trailing12 Months 0.64256054
Profit Margins 0.02783
Quick Ratio 0.378
Quote Source Name Nasdaq Real Time Price
Quote Type EQUITY
Recommendation Key buy
Recommendation Mean 2.44
Region US
Regular Market Change -1.33
Regular Market Change Percent -3.25741
Regular Market Day High 41.25
Regular Market Day Low 39.4501
Regular Market Day Range 39.4501 - 41.25
Regular Market Open 40.91
Regular Market Previous Close 40.83
Regular Market Price 39.5
Regular Market Time 1,792,180,802
Regular Market Volume 5,432,879
Return On Assets 0.02318
Return On Equity 0.11099
Revenue Growth 0.164
Revenue Per Share 59.374
Sand P52 Week Change 0.13723719
Sector Industrials
Sector Disp Industrials
Sector Key industrials
Share Holder Rights Risk 1
Shares Outstanding 489,208,201
Shares Percent Shares Out 0.0502
Shares Short 24,543,297
Shares Short Previous Month Date 1,788,134,400
Shares Short Prior Month 28,150,523
Short Name Southwest Airlines Company
Short Percent Of Float 0.0664
Short Ratio 4.12
Source Interval 15
State TX
Symbol LUV
Target High Price 65.0
Target Low Price 34.0
Target Mean Price 49.17826
Target Median Price 50.0
Total Cash 3,791,000,064
Total Cash Per Share 7.749
Total Debt 6,888,999,936
Total Revenue 30,072,999,936
Tradeable 0
Trailing Annual Dividend Rate 0.72
Trailing Annual Dividend Yield 0.017634092
Trailing Eps 1.6
Trailing P E 24.6875
Trailing Peg Ratio 0.1993
Triggerable 1
Two Hundred Day Average 43.4979
Two Hundred Day Average Change -3.997898
Two Hundred Day Average Change Percent -0.091910146
Type Disp Equity
Volume 5,432,879
Website https://www.southwest.com
Zip 75,235-1611