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Southwest Airlines LUV Return on assets

Return on assets at other companies

Delta Air Lines logo
Delta Air LinesDAL
5.5%+0.7pp
United Airlines Holdings logo
United Airlines HoldingsUAL
4.7%-0.3pp

Other financials

Income statement

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Revenue$7.2B+12.8%
Operating income$330.0M+248%
Net income$227.0M+252%
EPS (diluted)$0.45+273%

Balance sheet

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Cash & equivalents$3.3B-59.1%
Total debt$6.4B-20.0%
Total equity$6.9B-26.6%
Total assets$29.4B-11.6%

Cash flow

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Operating cash flow$1.4B+64.9%
CapEx$630.0M+19.5%
Free cash flow$788.0M+137%

Valuation

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Market cap$23.45B-7.3%
Enterprise value$26.51B+8.9%
P/E28.7×-17.6×
P/S0.8×-0.1×

Profitability

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Operating margin3.4%+1.6pp
Net margin2.8%+0.8pp

Returns & leverage

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Return on equity10.1%+4.5pp
Debt / equity0.9×+0.1×
Current ratio0.5×-0.3×

Where this comes from

Calculated from Southwest Airlines’s reported figures.

Based on trailing twelve months.

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

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Questions, answered.

What is Southwest Airlines's return on assets?
Southwest Airlines (LUV) reported return on assets of 2.6% in Q1 2026.
How has Southwest Airlines's return on assets changed year-over-year?
Southwest Airlines's return on assets increased by 65.6% year-over-year, from 1.6% to 2.6%.
What is the long-term trend for Southwest Airlines's return on assets?
Over 2 years (2021 to 2025), Southwest Airlines's return on assets has grown at a -18.8% compound annual growth rate (CAGR), from -8.2% to 5.4%.
What does return on assets mean?
How much profit the company squeezes out of everything it owns.
How do you interpret return on assets?
Higher means more productive assets. Unlike ROE, it is unaffected by leverage, so a wide ROE-minus-ROA gap flags a heavily levered balance sheet.
How does return on assets compare across companies?
Best compared within an industry — asset intensity varies enormously across sectors. Not meaningful for banks, whose assets are largely financial.