$34.1 B

LUV Mkt cap, 16-Aug-2018

$10.7 B

Southwest Airlines Revenue Q2, 2018
Southwest Airlines Net income (Q2, 2018)1.2 B
Southwest Airlines EBIT (Q2, 2018)1.6 B
Southwest Airlines Cash, 30-Jun-20182.1 B
Southwest Airlines EV32.4 B

Southwest Airlines Revenue Breakdown

Embed Graph

Southwest Airlines revenue breakdown by business segment: 91.0% from Passenger and 9.0% from Other

Southwest Airlines Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

17.7 b18.6 b19.8 b20.4 b21.2 b

Revenue growth, %

4%5%7%3%4%

Cost of goods sold

13.8 b

Gross profit

7.4 b

Gross profit Margin, %

35%

Operating expense total

16.4 b16.4 b15.7 b16.7 b2.7 b

Depreciation and amortization

867 m938 m1 b1.2 b1.2 b

EBIT

1.3 b2.2 b4.1 b3.8 b3.5 b

EBIT margin, %

7%12%21%18%17%

Interest expense

131 m130 m121 m122 m114 m

Interest income

6 m7 m9 m24 m35 m

Pre tax profit

1.2 b1.8 b3.5 b3.5 b3.3 b

Income tax expense

455 m680 m1.3 b1.3 b(237 m)

Net Income

754 m1.1 b2.2 b2.2 b3.5 b

Southwest Airlines Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

1.4 b1.3 b1.6 b1.7 b1.5 b

Accounts Receivable

419 m365 m474 m546 m

Prepaid Expenses

250 m232 m188 m310 m

Inventories

467 m342 m311 m337 m

Current Assets

4.5 b3.9 b4 b4.5 b4.8 b

PP&E

13.4 b14.3 b15.6 b17 b18.5 b

Goodwill

970 m970 m970 m970 m970 m

Total Assets

19.3 b19.7 b21.3 b23.3 b25.1 b

Accounts Payable

1.2 b1.2 b1.2 b1.2 b1.3 b

Short-term debt

629 m258 m637 m566 m348 m

Current Liabilities

5.7 b5.9 b7.4 b6.8 b6.9 b

Long-term debt

2.2 b2.4 b2.5 b2.8 b

Total Debt

2.8 b2.7 b3.2 b3.4 b348 m

Common Stock

808 m808 m808 m808 m

Additional Paid-in Capital

1.2 b1.3 b1.4 b1.4 b1.5 b

Retained Earnings

6.4 b7.4 b9.4 b11.4 b14.6 b

Total Equity

7.3 b6.8 b7.4 b8.4 b10.4 b

Debt to Equity Ratio

0.4 x0.4 x0.4 x0.4 x

Debt to Assets Ratio

0.1 x0.1 x0.1 x0.1 x

Financial Leverage

2.6 x2.9 x2.9 x2.8 x2.4 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

2 b1.8 b1.7 b2.4 b2 b2 b1.9 b1.5 b1.5 b1.8 b2.1 b

Accounts Receivable

499 m462 m465 m511 m524 m848 m585 m576 m579 m

Prepaid Expenses

270 m255 m239 m192 m202 m214 m235 m250 m223 m

Inventories

304 m326 m308 m289 m328 m331 m356 m365 m438 m

Current Assets

5 b4.6 b4.6 b4.6 b4.5 b4.8 b4.7 b4.3 b4.3 b4.8 b5.4 b

PP&E

14.6 b14.9 b14.9 b16 b16.3 b16.5 b17.3 b17.7 b18.2 b18.8 b19.1 b

Goodwill

970 m970 m970 m970 m970 m970 m970 m970 m970 m970 m970 m

Total Assets

21.2 b21.1 b21.2 b22.2 b22.4 b23 b23.8 b23.9 b24.2 b25.5 b26.5 b

Accounts Payable

1.1 b1.1 b1.2 b1.2 b1.2 b1 b1.2 b1.2 b1.1 b1.2 b1.3 b

Short-term debt

271 m276 m287 m953 m963 m972 m285 m307 m316 m365 m365 m

Current Liabilities

6.9 b6.9 b7.1 b8.3 b7.8 b7.8 b7.5 b7.1 b7 b7.2 b7.7 b

Long-term debt

2.4 b2.4 b2.4 b2.4 b2.4 b2.3 b2.8 b2.8 b2.8 b

Total Debt

2.7 b2.7 b2.7 b3.3 b3.4 b3.3 b3.1 b3.1 b3.1 b365 m365 m

Common Stock

808 m808 m808 m808 m808 m808 m808 m808 m808 m808 m808 m

Additional Paid-in Capital

1.3 b1.3 b1.3 b1.4 b1.4 b1.4 b1.4 b1.4 b1.4 b1.5 b1.5 b

Retained Earnings

7.8 b8.4 b8.9 b9.9 b10.6 b11 b11.7 b12.4 b12.8 b14.2 b14.9 b

Total Equity

6.9 b7.2 b7 b7.5 b7.8 b8 b8.2 b8.5 b8.8 b9.6 b10 b

Debt to Equity Ratio

0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.3 x

Debt to Assets Ratio

0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x

Financial Leverage

3.1 x2.9 x3 x3 x2.9 x2.9 x2.9 x2.8 x2.8 x2.7 x2.6 x

Southwest Airlines Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

754 m1.1 b2.2 b2.2 b3.5 b

Depreciation and Amortization

867 m938 m1 b1.2 b1.2 b

Accounts Receivable

(17 m)54 m(88 m)(50 m)

Accounts Payable

343 m36 m961 m226 m246 m

Cash From Operating Activities

2.5 b2.9 b3.2 b4.3 b3.9 b

Cash From Investing Activities

(1.4 b)(1.7 b)(1.9 b)(2.3 b)(2.4 b)

Long-term Borrowings

(313 m)(561 m)(213 m)(591 m)

Dividends Paid

(71 m)(139 m)(180 m)(222 m)

Cash From Financing Activities

(851 m)(1.2 b)(1 b)(1.9 b)(1.7 b)

Net Change in Cash

242 m(73 m)301 m97 m

Interest Paid

133 m128 m105 m100 m

Income Taxes Paid

346 m155 m1.4 b902 m992 m

Free Cash Flow

1 b1.2 b1.2 b2.3 b1.8 b

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

453 m1.1 b1.6 b513 m1.3 b1.7 b351 m1.1 b1.6 b463 m1.2 b

Depreciation and Amortization

244 m494 m751 m290 m588 m903 m318 m637 m939 m277 m569 m

Accounts Receivable

(130 m)(90 m)(86 m)(21 m)(35 m)(355 m)(35 m)(23 m)(23 m)

Accounts Payable

177 m43 m424 m313 m25 m272 m93 m(245 m)(156 m)(501 m)(80 m)

Cash From Operating Activities

1.5 b2.1 b2.9 b1.6 b2.7 b3.6 b1.6 b2.4 b3.4 b1 b2.6 b

Cash From Investing Activities

(302 m)(708 m)(967 m)(175 m)(849 m)(1.4 b)(470 m)(1.1 b)(1.7 b)(73 m)(766 m)

Long-term Borrowings

(51 m)(92 m)(170 m)(56 m)(103 m)(171 m)(369 m)(428 m)(534 m)

Dividends Paid

(81 m)(131 m)(180 m)(96 m)(160 m)(222 m)(123 m)(199 m)(274 m)

Cash From Financing Activities

(407 m)(881 m)(1.5 b)(636 m)(1.4 b)(1.8 b)(984 m)(1.5 b)(1.9 b)(602 m)(1.2 b)

Net Change in Cash

743 m490 m458 m805 m457 m383 m171 m(143 m)(220 m)

Interest Paid

32 m53 m86 m27 m50 m77 m27 m45 m61 m

Income Taxes Paid

111 m566 m975 m73 m638 m902 m6 m382 m611 m4 m174 m

Free Cash Flow

879 m1.1 b1.7 b1.2 b1.8 b2.2 b1.2 b1.4 b1.8 b593 m1.7 b

Southwest Airlines Ratios

USDY, 2018

EV/EBIT

20.4 x

EV/CFO

12.3 x

EV/FCF

19 x

Financial Leverage

2.6 x
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