What is Southwest Airlines's long-term debt?

Southwest Airlines (LUV) reported long-term debt of $3.79B in Q2 2026.

How has Southwest Airlines's long-term debt changed year-over-year?

Southwest Airlines's long-term debt decreased by 7.1% year-over-year, from $4.08B to $3.79B.

What is the long-term trend for Southwest Airlines's long-term debt?

Over 5 years (2020 to 2025), Southwest Airlines's long-term debt has grown at a -13.9% compound annual growth rate (CAGR), from $10.38B to $4.92B.

What does long-term debt mean?

Bonds, term loans, notes payable, and other borrowings with maturities beyond one year — the primary long-term financing source.

Southwest Airlines LUV Long-Term Debt

Long-Term Debt at other companies

Delta Air LinesDAL

$10.1B-18.5%

United Airlines HoldingsUAL

$24.29B+16.3%

Alaska Air GroupALK

$5.78B+30.0%

JetBlue AirwaysJBLU

$8B+3.4%

ALG

Allegiant TravelALGT

$15.52M+14.2%

Frontier Group Holdings, Inc.ULCC

$300M+28.2%

Other financials

Income statement

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Revenue$8.4B+16.4%

Operating income$285.0M+26.7%

Net income$233.0M+9.4%

EPS (diluted)$0.47+20.5%

Balance sheet

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Cash & equivalents$3.8B+9.1%

Total debt$6.9B+29.0%

Total equity$7.1B-11.5%

Total assets$30.1B+4.9%

Cash flow

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Operating cash flow$530.0M+32.2%

CapEx$818.0M+23.9%

Free cash flow-$288.0M-11.2%

Valuation

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Market cap$21.71B+34.6%

Enterprise value$24.81B+37.9%

P/E25.9×-15.2×

P/S0.7×+0.1×

Profitability

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Operating margin3.5%+2.3pp

Net margin2.8%+1.4pp

FCF margin-1.5%+0.5pp

Returns & leverage

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Return on equity11.1%+6.9pp

Debt / equity1×+0.3×

Current ratio0.5×-0.1×

Where this comes from

Reported directly by Southwest Airlines in its filing.

Tagged under the XBRL concept us-gaap:LongTermDebtAndCapitalLeaseObligations.

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

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Questions, answered.

What is Southwest Airlines's long-term debt?: Southwest Airlines (LUV) reported long-term debt of $3.79B in Q2 2026.
How has Southwest Airlines's long-term debt changed year-over-year?: Southwest Airlines's long-term debt decreased by 7.1% year-over-year, from $4.08B to $3.79B.
What is the long-term trend for Southwest Airlines's long-term debt?: Over 5 years (2020 to 2025), Southwest Airlines's long-term debt has grown at a -13.9% compound annual growth rate (CAGR), from $10.38B to $4.92B.
What does long-term debt mean?: Bonds, term loans, notes payable, and other borrowings with maturities beyond one year — the primary long-term financing source.