Southwest Airlines LUV Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Operating margin | 3.4%+1.6pp | 1.5%+0.4pp | 1.1%— | 1.2%— | 1.8%— | |
| Net margin | 2.8%+0.8pp | 1.6%-0.1pp | 1.4%— | 1.4%— | 2%— | |
| Returns | ||||||
| Return on equity | 10.1%+4.5pp | 4.8%+0.4pp | 4.2%— | 4.2%— | 5.6%— | |
| Return on invested capital | 8%+4.3pp | 2.8%+0.7pp | 2.3%— | 2.3%— | 3.8%— | |
| Efficiency | ||||||
| Asset turnover | 0.9×+0.1× | 0.9×+0.1× | 0.9×+0.1× | 0.9×+0.1× | 0.8×+0.1× | |
| Liquidity | ||||||
| Current ratio | 0.5×-0.3× | 0.5×-0.4× | 0.5×-0.4× | 0.6×-0.3× | 0.8×-0.3× | |
| Leverage | ||||||
| Debt-to-equity | 0.9×+0.1× | 0.8×-0.1× | 0.7×-0.2× | 0.7×-0.2× | 0.9×0.0× | |
| Net debt / EBITDA | 1.2×+1.3× | 1.6×+0.4× | 1.2×— | 1×— | -0.1×— | |
| Per Share | ||||||
| Book value per share | $13.67-14.8% | —— | $14.78-14.7% | $14.79-9.1% | $16.04-6.1% | |
| Valuation | ||||||
| Market capitalization | $18.45B-7.3% | $21.37B+6.0% | $16.76B-5.6% | $18.16B+5.9% | $19.9B+14.2% | |
| Price / earnings | 22.6×-13.9× | 48.5×+5.0× | 44.2×— | 46.3×— | 36.4×— | |
| Price / sales | 0.6×-0.1× | 0.8×0.0× | 0.6×0.0× | 0.7×0.0× | 0.7×+0.1× | |
| Price / book | 2.7×+0.6× | 2.7×+0.7× | 2.2×+0.5× | 2.3×+0.6× | 2.1×+0.4× | |
| EV / EBITDA | 8.5×-0.8× | 12.3×+1.0× | 10×— | 10.2×— | 9.3×— | |
| Dividend yield | 2.1%+0.5pp | 1.9%-0.3pp | 2.4%0.0pp | 2.3%-0.2pp | 1.6%-0.8pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- Where do Southwest Airlines's ratios come from?
- Every ratio is computed from Southwest Airlines's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
