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Southwest Airlines LUV Enterprise value

Enterprise value at other companies

Delta Air Lines logo
Delta Air LinesDAL
$57.56B+25.8%
United Airlines Holdings logo
United Airlines HoldingsUAL
$52.74B+15.2%

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%
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.

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 enterprise value?
Southwest Airlines (LUV) reported enterprise value of $21.52B in Q1 2026.
How has Southwest Airlines's enterprise value changed year-over-year?
Southwest Airlines's enterprise value increased by 8.9% year-over-year, from $19.76B to $21.52B.
What is the long-term trend for Southwest Airlines's enterprise value?
Over 4 years (2021 to 2025), Southwest Airlines's enterprise value has grown at a -9.4% compound annual growth rate (CAGR), from $123.93B to $83.44B.
What does enterprise value mean?
What it would cost to buy the entire business, debt included and cash netted out.
How do you interpret enterprise value?
The capital-structure-neutral valuation base — used in EV/EBITDA and EV/Sales to compare companies with different leverage on a like-for-like footing.
How does enterprise value compare across companies?
Comparable across non-financial companies via the EV multiples it feeds; not used for banks and insurers.