JetBlue vs Southwest Airlines
Southwest Airlines reported revenue of $28.1 billion in fiscal 2025, 3.1 times JetBlue's $9.1 billion in fiscal 2025. JetBlue's revenue fell 2.3% in its latest year, and Southwest Airlines' grew 2.1%. JetBlue had an operating margin of -4.1%, against 1.5% at Southwest Airlines. Free cash flow was −$1.2 billion at JetBlue and −$831 million at Southwest Airlines.
Side by side
| JetBlue | Southwest Airlines | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $9.1B | $28.1B |
| Revenue growth | −2.3% | 2.1% |
| Revenue growth a year, last 5 years | 25.1% | 25.4% |
| Gross margin | — | — |
| Operating margin | −4.1% | 1.5% |
| Net margin | −6.6% | 1.6% |
| Free cash flow | −$1.2B | −$831M |
| Free cash flow margin | −12.9% | −3.0% |
| Return on capital | −3.6% | 3.7% |
| Net debt to EBITDA | 19.8x | 0.9x |
| Dividends and buybacks | $0M | $2.9B |
| Change in diluted share count | 4.7% | −13.2% |
| Last close | $2.37 | $42.85 |
| P/E at the last close | — | 20.9× |
| Insider trades, last 12 months | bought $206,000, sold $911,466 | sold $306,534 |
| Piotroski F-score | 3 of 8 | 7 of 8 |
Amounts in each company's own currency, US$ 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
JetBlueSouthwest Airlines
Operating margin
Percent of revenue
JetBlueSouthwest Airlines
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
JetBlueSouthwest 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 JetBlue and Southwest Airlines pages.