SuperworthSouthwest Airlines shares outstanding LUV
Diluted shares outstanding, averaged over each quarter, from 2008.
- Latest quarter, to Jun 30, 2026
- 493M
- On a year earlier
- −8.9%
- fewer shares
Southwest Airlines had 493M diluted shares outstanding on average in Q2 FY26, the quarter to Jun 30, 2026.
That is 8.9% fewer than a year earlier, so each share owns a little more of the company.
Shares outstanding over time
Fiscal year by fiscal year
| Fiscal year | Shares, fourth quarter | Change |
|---|---|---|
| FY2025 | 579M | −10% |
| FY2024 | 643M | +8% |
| FY2023 | 595M | +0% |
| FY2022 | 593M | −2% |
| FY2021 | 606M | +2% |
| FY2020 | 592M | +12% |
| FY2019 | 527M | −6% |
| FY2018 | 559M | −6% |
| FY2017 | 594M | −4% |
| FY2016 | 618M | −6% |
| FY2015 | 657M | −4% |
| FY2014 | 687M | −3% |
| FY2013 | 706M | −5% |
| FY2012 | 742M | −5% |
| FY2011 | 778M | +4% |
Each fiscal year is the twelve months to its fourth quarter, shown as the fourth quarter's average share count.
Quarter by quarter
| Quarter | Ended | Shares outstanding | On a year earlier |
|---|---|---|---|
| Q2 FY26 | 493M | −9% | |
| Q1 FY26 | 503M | −14% | |
| Q4 FY25 | 579M | −10% | |
| Q3 FY25 | 526M | −12% | |
| Q2 FY25 | 541M | −16% | |
| Q1 FY25 | 584M | −2% | |
| Q4 FY24 | 643M | +8% | |
| Q3 FY24 | 601M | −6% | |
| Q2 FY24 | 643M | +1% | |
| Q1 FY24 | 597M | +1% | |
| Q4 FY23 | 595M | +0% | |
| Q3 FY23 | 640M | +0% |
What the shares outstanding tells you
Diluted shares outstanding, averaged over the period. Fewer shares means each one owns more of the company.
A falling count usually means buybacks. A rising one means stock pay, acquisitions paid in shares or new shares sold.
More on Southwest Airlines
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.