What is Southwest Airlines's PP&E (net)?

Southwest Airlines (LUV) reported PP&E (net) of $20.64B in Q2 2026.

How has Southwest Airlines's PP&E (net) changed year-over-year?

Southwest Airlines's PP&E (net) increased by 6.4% year-over-year, from $19.4B to $20.64B.

What is the long-term trend for Southwest Airlines's PP&E (net)?

Over 5 years (2020 to 2025), Southwest Airlines's PP&E (net) has grown at a 5.0% compound annual growth rate (CAGR), from $15.83B to $20.25B.

What does PP&E (net) mean?

Total property, plant, and equipment minus accumulated depreciation — the net book value of all tangible long-lived assets.

Southwest Airlines LUV PP&E (Net)

PP&E (Net) at other companies

Delta Air LinesDAL

$41.54B+6.7%

United Airlines HoldingsUAL

$47.96B+9.3%

Alaska Air GroupALK

$12.01B+7.1%

JetBlue AirwaysJBLU

$11.25B+3.7%

ALG

Allegiant TravelALGT

$3.07B-1.2%

Frontier Group Holdings, Inc.ULCC

$474M+3.5%

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:PropertyPlantAndEquipmentNet.

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 PP&E (net)?: Southwest Airlines (LUV) reported PP&E (net) of $20.64B in Q2 2026.
How has Southwest Airlines's PP&E (net) changed year-over-year?: Southwest Airlines's PP&E (net) increased by 6.4% year-over-year, from $19.4B to $20.64B.
What is the long-term trend for Southwest Airlines's PP&E (net)?: Over 5 years (2020 to 2025), Southwest Airlines's PP&E (net) has grown at a 5.0% compound annual growth rate (CAGR), from $15.83B to $20.25B.
What does PP&E (net) mean?: Total property, plant, and equipment minus accumulated depreciation — the net book value of all tangible long-lived assets.