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Southwest Airlines LUV Book value per share

Other financials

Income statement

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Revenue$7.2B+12.8%
Operating income$330.0M+248%
Net income$227.0M+252%
EPS (diluted)$0.45+273%

Balance sheet

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Cash & equivalents$3.3B-59.1%
Total debt$6.4B-20.0%
Total equity$6.9B-26.6%
Total assets$29.4B-11.6%

Cash flow

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Operating cash flow$1.4B+64.9%
CapEx$630.0M+19.5%
Free cash flow$788.0M+137%

Valuation

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Market cap$22.81B-7.3%
Enterprise value$25.87B+8.9%
P/E27.9×-17.1×
P/S0.8×-0.1×

Profitability

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Operating margin3.4%+1.6pp
Net margin2.8%+0.8pp

Returns & leverage

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Return on equity10.1%+4.5pp
Debt / equity0.9×+0.1×
Current ratio0.5×-0.3×

Where this comes from

Calculated from Southwest Airlines’s reported figures.

Based on the most recent quarter.

The official record: Southwest Airlines’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Southwest Airlines's book value per share?
Southwest Airlines (LUV) reported book value per share of $13.67 in Q1 2026.
How has Southwest Airlines's book value per share changed year-over-year?
Southwest Airlines's book value per share decreased by 14.8% year-over-year, from $16.04 to $13.67.
What is the long-term trend for Southwest Airlines's book value per share?
Over 2 years (2021 to 2023), Southwest Airlines's book value per share has grown at a 2.5% compound annual growth rate (CAGR), from $64.67 to $67.93.
What does book value per share mean?
The accounting net worth of the company behind each share.
How do you interpret book value per share?
A steadily rising book value per share reflects retained earnings compounding into equity. Compare against the share price (price-to-book) to gauge how the market values that book equity.
How does book value per share compare across companies?
Most meaningful for asset- and equity-heavy businesses (financials, industrials); less informative for asset-light firms whose value is intangible.