Allegiant Travel vs Southwest Airlines
Southwest Airlines reported revenue of $28.1 billion in fiscal 2025, 10.8 times Allegiant Travel's $2.6 billion in fiscal 2025. Allegiant Travel's revenue grew 3.7% in its latest year, and Southwest Airlines' grew 2.1%. Allegiant Travel had an operating margin of 1.4%, against 1.5% at Southwest Airlines. Free cash flow was $75 million at Allegiant Travel and −$831 million at Southwest Airlines.
Side by side
| Allegiant Travel | Southwest Airlines | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $2.6B | $28.1B |
| Revenue growth | 3.7% | 2.1% |
| Revenue growth a year, last 5 years | 21.4% | 25.4% |
| Gross margin | — | — |
| Operating margin | 1.4% | 1.5% |
| Net margin | −1.7% | 1.6% |
| Free cash flow | $75M | −$831M |
| Free cash flow margin | 2.9% | −3.0% |
| Return on capital | 1.1% | 3.7% |
| Net debt to EBITDA | 4.9x | 0.9x |
| Dividends and buybacks | $14M | $2.9B |
| Change in diluted share count | 1.1% | −13.2% |
| Last close | $91.97 | $44.45 |
| P/E at the last close | 27.8× | 21.7× |
| Insider trades, last 12 months | sold $35.3 million | sold $306,534 |
| Piotroski F-score | 6 of 8 | 7 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Allegiant TravelSouthwest Airlines
Operating margin
Percent of revenue
Allegiant TravelSouthwest Airlines
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Allegiant TravelSouthwest Airlines
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Allegiant Travel and Southwest Airlines pages.