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Side-by-side financial comparison of Southwest Airlines (LUV) and Supermicro (SMCI). Click either name above to swap in a different company.
Supermicro is the larger business by last-quarter revenue ($12.7B vs $7.2B, roughly 1.7× Southwest Airlines). Supermicro runs the higher net margin — 3.2% vs 3.1%, a 0.0% gap on every dollar of revenue. On growth, Supermicro posted the faster year-over-year revenue change (123.4% vs 12.8%). Over the past eight quarters, Supermicro's revenue compounded faster (81.5% CAGR vs -0.7%).
Southwest Airlines is a major low-cost airline of the United States. It is headquartered in the Love Field neighborhood of Dallas, Texas. It is the fourth-largest airline in North America when measured by passengers carried, as of 2024. With its all-Boeing 737 fleet, Southwest serves over 100 destinations in 42 states, Washington, D.C.
Super Micro Computer, Inc., doing business as Supermicro, is an American information technology company based in San Jose, California. The company is one of the largest producers of high-performance and high-efficiency servers, while also providing server management software, and storage systems for various markets, including enterprise data centers, cloud computing, artificial intelligence, 5G, and edge computing.
LUV vs SMCI — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $7.2B | $12.7B |
| Net Profit | $227.0M | $400.6M |
| Gross Margin | — | 6.3% |
| Operating Margin | — | 3.7% |
| Net Margin | 3.1% | 3.2% |
| Revenue YoY | 12.8% | 123.4% |
| Net Profit YoY | 252.3% | 24.9% |
| EPS (diluted) | $0.45 | $0.60 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $7.2B | — | ||
| Q4 25 | $7.4B | $12.7B | ||
| Q3 25 | $6.9B | $5.0B | ||
| Q2 25 | $7.2B | $5.8B | ||
| Q1 25 | $6.4B | $4.6B | ||
| Q4 24 | $6.9B | $5.7B | ||
| Q3 24 | $6.9B | $5.9B | ||
| Q2 24 | $7.4B | $5.4B |
| Q1 26 | $227.0M | — | ||
| Q4 25 | $323.0M | $400.6M | ||
| Q3 25 | $54.0M | $168.3M | ||
| Q2 25 | $213.0M | $195.2M | ||
| Q1 25 | $-149.0M | $108.8M | ||
| Q4 24 | $262.0M | $320.6M | ||
| Q3 24 | $67.0M | $424.3M | ||
| Q2 24 | $367.0M | $297.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.3% | ||
| Q3 25 | — | 9.3% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 13.1% | ||
| Q2 24 | — | 10.2% |
| Q1 26 | — | — | ||
| Q4 25 | 5.3% | 3.7% | ||
| Q3 25 | 0.5% | 3.6% | ||
| Q2 25 | 3.1% | 4.0% | ||
| Q1 25 | -3.5% | 3.2% | ||
| Q4 24 | 4.0% | 6.5% | ||
| Q3 24 | 0.6% | 8.6% | ||
| Q2 24 | 5.4% | 5.4% |
| Q1 26 | 3.1% | — | ||
| Q4 25 | 4.3% | 3.2% | ||
| Q3 25 | 0.8% | 3.4% | ||
| Q2 25 | 2.9% | 3.4% | ||
| Q1 25 | -2.3% | 2.4% | ||
| Q4 24 | 3.8% | 5.6% | ||
| Q3 24 | 1.0% | 7.1% | ||
| Q2 24 | 5.0% | 5.6% |
| Q1 26 | $0.45 | — | ||
| Q4 25 | $0.56 | $0.60 | ||
| Q3 25 | $0.10 | $0.26 | ||
| Q2 25 | $0.39 | $0.33 | ||
| Q1 25 | $-0.26 | $0.17 | ||
| Q4 24 | $0.46 | $0.51 | ||
| Q3 24 | $0.11 | $0.67 | ||
| Q2 24 | $0.58 | $-12.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.3B | $4.1B |
| Total DebtLower is stronger | $5.4B | — |
| Stockholders' EquityBook value | $6.9B | $7.0B |
| Total Assets | $20.4B | $28.0B |
| Debt / EquityLower = less leverage | 0.78× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.2B | $4.1B | ||
| Q3 25 | $3.0B | $4.2B | ||
| Q2 25 | $3.8B | $5.2B | ||
| Q1 25 | $8.3B | $2.5B | ||
| Q4 24 | $8.7B | $1.4B | ||
| Q3 24 | $9.4B | $2.1B | ||
| Q2 24 | $10.0B | $1.7B |
| Q1 26 | $5.4B | — | ||
| Q4 25 | $4.6B | — | ||
| Q3 25 | $4.1B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.1B | — |
| Q1 26 | $6.9B | — | ||
| Q4 25 | $8.0B | $7.0B | ||
| Q3 25 | $7.8B | $6.5B | ||
| Q2 25 | $8.0B | $6.3B | ||
| Q1 25 | $9.4B | $6.4B | ||
| Q4 24 | $10.3B | $6.2B | ||
| Q3 24 | $10.4B | $5.9B | ||
| Q2 24 | $10.5B | $5.4B |
| Q1 26 | $20.4B | — | ||
| Q4 25 | $29.1B | $28.0B | ||
| Q3 25 | $28.3B | $14.4B | ||
| Q2 25 | $28.7B | $14.0B | ||
| Q1 25 | $33.2B | $10.7B | ||
| Q4 24 | $33.8B | $9.7B | ||
| Q3 24 | $34.8B | $10.9B | ||
| Q2 24 | $35.6B | $9.8B |
| Q1 26 | 0.78× | — | ||
| Q4 25 | 0.57× | — | ||
| Q3 25 | 0.52× | — | ||
| Q2 25 | 0.51× | — | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | 0.49× | — | ||
| Q3 24 | 0.49× | — | ||
| Q2 24 | 0.48× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.4B | $-23.9M |
| Free Cash FlowOCF − Capex | — | $-45.1M |
| FCF MarginFCF / Revenue | — | -0.4% |
| Capex IntensityCapex / Revenue | 8.7% | 0.2% |
| Cash ConversionOCF / Net Profit | 6.25× | -0.06× |
| TTM Free Cash FlowTrailing 4 quarters | — | $440.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $294.0M | $-23.9M | ||
| Q3 25 | $287.0M | $-917.5M | ||
| Q2 25 | $401.0M | $863.6M | ||
| Q1 25 | $860.0M | $626.8M | ||
| Q4 24 | $476.0M | $-239.8M | ||
| Q3 24 | $113.0M | $408.9M | ||
| Q2 24 | $-23.0M | $-641.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-565.0M | $-45.1M | ||
| Q3 25 | $-391.0M | $-949.8M | ||
| Q2 25 | $-234.0M | $840.9M | ||
| Q1 25 | $359.0M | $594.1M | ||
| Q4 24 | $16.0M | $-267.3M | ||
| Q3 24 | $-404.0M | $364.6M | ||
| Q2 24 | $-517.0M | $-655.8M |
| Q1 26 | — | — | ||
| Q4 25 | -7.6% | -0.4% | ||
| Q3 25 | -5.6% | -18.9% | ||
| Q2 25 | -3.2% | 14.6% | ||
| Q1 25 | 5.6% | 12.9% | ||
| Q4 24 | 0.2% | -4.7% | ||
| Q3 24 | -5.9% | 6.1% | ||
| Q2 24 | -7.0% | -12.2% |
| Q1 26 | 8.7% | — | ||
| Q4 25 | 11.5% | 0.2% | ||
| Q3 25 | 9.8% | 0.6% | ||
| Q2 25 | 8.8% | 0.4% | ||
| Q1 25 | 7.8% | 0.7% | ||
| Q4 24 | 6.6% | 0.5% | ||
| Q3 24 | 7.5% | 0.7% | ||
| Q2 24 | 6.7% | 0.3% |
| Q1 26 | 6.25× | — | ||
| Q4 25 | 0.91× | -0.06× | ||
| Q3 25 | 5.31× | -5.45× | ||
| Q2 25 | 1.88× | 4.43× | ||
| Q1 25 | — | 5.76× | ||
| Q4 24 | 1.82× | -0.75× | ||
| Q3 24 | 1.69× | 0.96× | ||
| Q2 24 | -0.06× | -2.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LUV
| Passenger | $6.6B | 91% |
| Other | $614.0M | 8% |
| Freight | $44.0M | 1% |
SMCI
Segment breakdown not available.
