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.

Southwest Airlines LUV Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	3.4%+1.9pp	1.5%+0.4pp	1.1%0.0pp	1.2%-0.6pp	1.8%+0.6pp
Net margin	2.8%+1.3pp	1.6%+0.2pp	1.4%-0.1pp	1.4%-0.6pp	2%+0.3pp
Returns
Return on equity	10.1%+5.3pp	4.8%+0.6pp	4.2%-0.1pp	4.2%-1.3pp	5.6%+1.1pp
Return on invested capital	8%+5.2pp	2.8%+0.5pp	2.3%0.0pp	2.3%-1.5pp	3.8%+1.6pp
Efficiency
Asset turnover	0.9×0.0×	0.9×0.0×	0.9×0.0×	0.9×+0.1×	0.8×0.0×
Liquidity
Current ratio	0.5×0.0×	0.5×0.0×	0.5×-0.1×	0.6×-0.2×	0.8×-0.1×
Leverage
Debt-to-equity	0.9×+0.1×	0.8×+0.1×	0.7×0.0×	0.7×-0.2×	0.9×-0.1×
Net debt / EBITDA	1.2×-0.4×	1.6×+0.4×	1.2×+0.3×	1×+1.0×	-0.1×-1.2×
Per Share
Book value per share	$13.67—	——	$14.780.0%	$14.79-7.8%	$16.04—
Valuation
Market capitalization	$18.45B-13.7%	$21.37B+27.5%	$16.76B-7.7%	$18.16B-8.8%	$19.9B-1.3%
Price / earnings	22.6×-25.9×	48.5×+4.2×	44.2×-2.1×	46.3×+9.9×	36.4×-7.0×
Price / sales	0.6×-0.1×	0.8×+0.2×	0.6×-0.1×	0.7×-0.1×	0.7×0.0×
Price / book	2.7×0.0×	2.7×+0.5×	2.2×-0.1×	2.3×+0.1×	2.1×+0.2×
EV / EBITDA	8.5×-3.9×	12.3×+2.3×	10×-0.2×	10.2×+1.0×	9.3×-2.1×
Dividend yield	2.1%+0.2pp	1.9%-0.5pp	2.4%0.0pp	2.3%+0.7pp	1.6%-0.5pp

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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.