FINHUB Insights

Southwest Airlines Q3 FY25: where the revenue came from and where it went

The whole income statement of Southwest Airlines for this quarter, as one diagram: what earned the revenue, and what it went on.

Period
Jul 1 – Sep 30, 2025
Reported
Oct 23, 2025 10-Q accession 0000092380-25-000140

Revenue$6.95B +1% year over year
Operating profit$0.04B 1% margin
Net profit$0.05B 1% margin

Net profit is larger than what operations earned, because the statement adds $0.02B below it, under Other income, net.

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The numbers

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
ItemValueShare of revenueYear over year
Revenue 6.95 100% +1%
Revenue non loyalty 4.90 70% −4%
Air transportation 0.81 12% −10%
Passenger ancillary sold 0.61 9% +134%
Product & service other 0.59 8% +3%
Cargo & freight 0.04 1% −2%
Operating expenses−6.91 99%
Compensation−3.2246%+2pp
Property operating−2.5437%+0pp
Interest−0.040%+0pp
Underwriting−1.1216%+0pp
Operating profit0.041% margin+0pp
Other income, net0.02
Net profit0.05 1% margin+0pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Source of the numbers: structured XBRL data from the filing (10-Q). The diagram is generated automatically and checked against EDGAR before release. How we calculate it → About and methodology.

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