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Southwest Airlines LUV Ratios & Valuation

Income StatementBalance SheetCash FlowRatiosSegments
QuarterlyAnnualTTM
YoYQoQ
SimplifiedDetailed
Q1 '26Q4 '25Q3 '25Q2 '25Q1 '25
Profitability
Operating margin3.4%+1.9pp1.5%+0.4pp1.1%0.0pp1.2%-0.6pp1.8%+0.6pp
Net margin2.8%+1.3pp1.6%+0.2pp1.4%-0.1pp1.4%-0.6pp2%+0.3pp
EBITDA margin8.8%+1.7pp7.1%+0.1pp6.9%-0.2pp7.1%-0.6pp7.7%+0.5pp
Free cash flow margin-1.4%+1.7pp-3.1%-2.0pp-1.1%+0.1pp-1.1%+1.0pp-2.1%+3.7pp
Returns
Return on equity10.1%+5.3pp4.8%+0.6pp4.2%-0.1pp4.2%-1.3pp5.6%+1.1pp
Return on assets2.6%+1.2pp1.4%+0.2pp1.2%0.0pp1.2%-0.4pp1.6%+0.3pp
Return on invested capital8%+5.2pp2.8%+0.5pp2.3%0.0pp2.3%-1.5pp3.8%+1.6pp
Efficiency
Asset turnover0.9×0.0×0.9×0.0×0.9×0.0×0.9×+0.1×0.8×0.0×
Liquidity
Current ratio0.5×0.0×0.5×0.0×0.5×-0.1×0.6×-0.2×0.8×-0.1×
Quick ratio0.5×0.0×0.5×0.0×0.5×-0.1×0.6×-0.2×0.8×-0.1×
Cash ratio0.3×0.0×0.3×0.0×0.3×-0.1×0.3×-0.3×0.6×0.0×
Leverage
Debt-to-equity0.9×+0.1×0.8×+0.1×0.7×0.0×0.7×-0.2×0.9×-0.1×
Debt-to-assets0.2×0.0×0.2×0.0×0.2×0.0×0.2×-0.1×0.2×0.0×
Net debt / EBITDA1.2×-0.4×1.6×+0.4×1.2×+0.3×1×+1.0×-0.1×-1.2×
Interest coverage5.6×+3.0×2.6×+0.8×1.8×+0.2×1.5×-0.6×2.1×+0.8×
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%
Enterprise value$21.52B-12.3%$24.54B+28.4%$19.11B-4.5%$20.02B+1.3%$19.76B-11.9%
Price / earnings22.6×-25.9×48.5×+4.2×44.2×-2.1×46.3×+9.9×36.4×-7.0×
Price / sales0.6×-0.1×0.8×+0.2×0.6×-0.1×0.7×-0.1×0.7×0.0×
Price / book2.7×0.0×2.7×+0.5×2.2×-0.1×2.3×+0.1×2.1×+0.2×
EV / EBITDA8.5×-3.9×12.3×+2.3×10×-0.2×10.2×+1.0×9.3×-2.1×
EV / sales0.7×-0.1×0.9×+0.2×0.7×0.0×0.7×0.0×0.7×-0.1×
Free cash flow yield-2.2%+1.8pp-4%-2.3pp-1.7%-0.1pp-1.7%+1.3pp-3%+5.0pp
Earnings yield4.4%+2.4pp2.1%-0.2pp2.3%+0.1pp2.2%-0.6pp2.7%+0.4pp
Dividend yield2.1%+0.2pp1.9%-0.5pp2.4%0.0pp2.3%+0.7pp1.6%-0.5pp
PEG ratio0.5×—————————

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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.