Southwest Airlines (LUV) Capital Expenditures (2009 - 2026)
Southwest Airlines (LUV) reported Capital Expenditures of $818 million for Q2 2026, up 23.9% from $660 million a year earlier and up 29.8% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Capital Expenditures (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Southwest Airlines' Capital Expenditures came in at $2.99 billion, up 37.9% year-over-year; for FY2025, it came in at $2.67 billion, up 30.1% from FY2024.
- Capital Expenditures has a five-year compound annual growth rate of 39.0% (FY2020 to FY2025).
- By year, Capital Expenditures came in at $2.05 billion in FY2024 (-41.6%), $3.52 billion in FY2023 (-10.3%), $3.92 billion in FY2022 (+677.0%) and $505 million in FY2021 (-1.9%).
- Five-year quarterly Capital Expenditures spans a low of $135 million in Q3 2021 and a high of $1.36 billion in Q4 2022.
- Year over year, Capital Expenditures has now increased in each of the last five quarters, with growth averaging 14.0% over the last eight quarters.
- The high point for year-over-year Capital Expenditures in five years was Q2 2022 (growth of 938.9%); the low point was Q4 2023 (a decline of 47.8%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $630 million (Q1 2026), $859 million (Q4 2025) and $678 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 165.28 Bn | 159.81 Bn | - | 873.00 Mn |
| 2 | Csx | 87.86 Bn | 84.08 Bn | - | 576.00 Mn |
| 3 | Canadian Pacific Kansas City | 75.56 Bn | 75.27 Bn | - | 547.98 Mn |
| 4 | Norfolk Southern | 71.27 Bn | 65.91 Bn | - | 439.00 Mn |
| 5 | United Parcel Service | 69.70 Bn | 46.62 Bn | - | 693.00 Mn |
| 6 | Fedex | 68.71 Bn | 34.65 Bn | - | 1.47 Bn |
| 7 | Delta Air Lines | 55.32 Bn | 37.50 Bn | - | -786.00 Mn |
| 8 | Old Dominion Freight Line | 37.44 Bn | 36.71 Bn | - | 77.04 Mn |
| 9 | United Airlines Holdings | 36.52 Bn | -19.85 Bn | - | 1.34 Bn |
| 10 | Southwest Airlines | 20.78 Bn | 7.41 Bn | - | 818.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 818.00 Mn |
| Mar 31, 2026 | 630.00 Mn |
| Dec 31, 2025 | 859.00 Mn |
| Sep 30, 2025 | 678.00 Mn |
| Jun 30, 2025 | 660.00 Mn |
| Mar 31, 2025 | 527.00 Mn |
| Dec 31, 2024 | 460.00 Mn |
| Sep 30, 2024 | 517.00 Mn |
| Jun 30, 2024 | 494.00 Mn |
| Mar 31, 2024 | 583.00 Mn |
| Dec 31, 2023 | 708.00 Mn |
| Sep 30, 2023 | 842.00 Mn |
| Jun 30, 2023 | 925.00 Mn |
| Mar 31, 2023 | 1.05 Bn |
| Dec 31, 2022 | 1.36 Bn |
| Sep 30, 2022 | 1.07 Bn |
| Jun 30, 2022 | 987.00 Mn |
| Mar 31, 2022 | 510.00 Mn |
| Dec 31, 2021 | 180.00 Mn |
| Sep 30, 2021 | 135.00 Mn |
API Access
Southwest Airlines Capital Expenditures 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=capital-expenditures&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "capital-expenditures", "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=capital-expenditures&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();