Direct Answer
SEC EDGAR classifies Southwest Airlines under SIC code 4512 (Air Transportation, Scheduled). Among Swoopr's S&P 500 Equal Weight companies, 7 others share that classification; by latest reported revenue, Southwest Airlines ranks 4 of 8. A filing classification is a starting point: a company's real competitors depend on its segments, which its 10-K describes.
How Does Southwest Airlines Compare With Its Peers?
| Company | Revenue (latest FY) | Revenue growth | Operating margin | Net margin |
|---|---|---|---|---|
| Delta Air Lines (DAL) | $63.4 billion FY2025 | 2.8% | 9.2% | 7.9% |
| United Airlines Holdings (UAL) | $59.1 billion FY2025 | 3.5% | 8.0% | 5.7% |
| American Airlines Group (AAL) | $54.6 billion FY2025 | 0.8% | 2.7% | 0.2% |
| Southwest Airlines (LUV) | $28.1 billion FY2025 | 2.1% | 1.5% | 1.6% |
| Alaska Air Group Inc. (ALK) | $14.2 billion FY2025 | 21.3% | 2.1% | 0.7% |
| Frontier Group Holdings Inc. (ULCC) | $3.7 billion FY2025 | -1.4% | -4.0% | -3.7% |
| Republic Airways Holdings Inc. (RJET) | $1.7 billion FY2025 | 13.7% | 10.0% | 4.5% |
| Starfighters Space Inc. (FJET) | $0 FY2025 | n/a | n/a | n/a |
Revenue growth compares each company's latest fiscal year with the one before. Fiscal years do not always end on the same date, so treat close comparisons with care.
How Does Southwest Airlines Rank Among All SEC Filers in Its Industry Code?
7 companies with annual reports in Swoopr's SEC dataset share SIC code 4512 (Air Transportation, Scheduled), a wider group than the S&P 500 Equal Weight companies above. Ranks run from 1 (highest) and use each company's latest fiscal year, in U.S. dollars.
| Measure | Southwest Airlines | Median of filers | Rank |
|---|---|---|---|
| Revenue | $28.1 billion | $28.1 billion | 4 of 7 |
| Revenue growth | 2.1% | 2.8% | 5 of 7 |
| Operating margin | 1.5% | 2.7% | 6 of 7 |
| Net margin | 1.6% | 1.6% | 4 of 7 |
A SIC code reflects the filer's main business as the SEC records it, so the group mixes companies of very different size; the median is a better guide than the average, and a rank near the top by revenue says nothing about quality.
Where These Numbers Come From
Every figure on this page is a value Southwest Airlines reported in its own SEC filings, read from the SEC's XBRL data (accession 0000092380-26-000004 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
Who are Southwest Airlines's competitors?
Companies sharing Southwest Airlines's SEC classification (SIC code 4512 (Air Transportation, Scheduled)) include Delta Air Lines (DAL), United Airlines Holdings (UAL), American Airlines Group (AAL), Alaska Air Group Inc. (ALK), Frontier Group Holdings Inc. (ULCC). Its 10-K names the competitors it considers most relevant.
How does Southwest Airlines compare with its peers on margins?
Southwest Airlines's fiscal 2025 operating margin was 1.5%, against a peer median of 5.3%.
How are these peers chosen?
By the SEC Standard Industrial Classification code each company files under, within Swoopr's S&P 500 Equal Weight company set, falling back to the two-digit major group when fewer than two companies share the exact code. Classification codes are broad, so read the peer list as a screen, not a verdict.
How does Southwest Airlines rank among all companies in its SEC industry?
Among 7 SEC filers under SIC code 4512, Southwest Airlines ranks 4 by latest revenue, and 6 of 7 by operating margin (1.5% against a median of 2.7%).