Southwest Airlines (LUV) Accumulated Expenses (2009 - 2026)
Southwest Airlines' Accumulated Expenses came in at $2.25 billion for Q2 2026, up 10.1% from $2.04 billion a year earlier and up 3.5% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Accumulated Expenses (2009 - 2026) Analysis & Trends
At the end of FY2025, Southwest Airlines' Accumulated Expenses was $2.35 billion, up 6.5% from FY2024.
- Accumulated Expenses carries a five-year compound annual growth rate of 0.8% (FY2020 to FY2025).
- Going back by year, Accumulated Expenses was $2.21 billion in FY2024 (-38.8%), $3.61 billion in FY2023 (+76.5%), $2.04 billion in FY2022 (+25.8%) and $1.62 billion in FY2021 (-28.1%).
- The five-year range for quarterly Accumulated Expenses is $1.36 billion (Q1 2022) to $3.61 billion (Q4 2023).
- Year-over-year, Accumulated Expenses has increased for three consecutive quarters, with an average decline of 6.1% over the last eight quarters.
- The fastest year-over-year change in Accumulated Expenses over five years came in Q4 2023 (growth of 76.5%), and the weakest in Q4 2024 (a decline of 38.8%).
- Business Quant data shows LUV's Accumulated Expenses at $2.17 billion (Q1 2026), $2.35 billion (Q4 2025) and $2.09 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Union Pacific | 170.80 Bn | 165.33 Bn | - |
| 2 | Csx | 89.17 Bn | 85.38 Bn | - |
| 3 | United Parcel Service | 83.81 Bn | 60.70 Bn | - |
| 4 | Canadian Pacific Kansas City | 77.31 Bn | 76.33 Bn | - |
| 5 | Norfolk Southern | 73.23 Bn | 67.87 Bn | - |
| 6 | Fedex | 70.82 Bn | 36.77 Bn | - |
| 7 | Delta Air Lines | 50.27 Bn | 32.46 Bn | - |
| 8 | Old Dominion Freight Line | 39.09 Bn | 38.36 Bn | - |
| 9 | United Airlines Holdings | 31.83 Bn | -24.55 Bn | - |
| 10 | Southwest Airlines | 19.41 Bn | 6.04 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.25 Bn |
| Mar 31, 2026 | 2.17 Bn |
| Dec 31, 2025 | 2.35 Bn |
| Sep 30, 2025 | 2.09 Bn |
| Jun 30, 2025 | 2.04 Bn |
| Mar 31, 2025 | 1.98 Bn |
| Dec 31, 2024 | 2.21 Bn |
| Sep 30, 2024 | 2.10 Bn |
| Jun 30, 2024 | 1.87 Bn |
| Mar 31, 2024 | 2.40 Bn |
| Dec 31, 2023 | 3.61 Bn |
| Sep 30, 2023 | 2.88 Bn |
| Jun 30, 2023 | 2.47 Bn |
| Mar 31, 2023 | 2.12 Bn |
| Dec 31, 2022 | 2.04 Bn |
| Sep 30, 2022 | 1.88 Bn |
| Jun 30, 2022 | 1.59 Bn |
| Mar 31, 2022 | 1.36 Bn |
| Dec 31, 2021 | 1.62 Bn |
| Sep 30, 2021 | 1.69 Bn |
API Access
Southwest Airlines Accumulated Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "accumulated-expenses", "ticker": "LUV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();