Southwest Airlines (LUV) Capital Expenditures (2009 - 2026)
Southwest Airlines (LUV) reported Capital Expenditures of $1.01 billion for Q3 2026, up 36.9% from $735 million a year earlier and up 23.0% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Capital Expenditures (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Southwest Airlines' Capital Expenditures came in at $3.21 billion, up 36.0% 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 (-10.8%), $3.95 billion in FY2022 (+672.2%) and $511 million in FY2021 (-0.8%).
- The Q3 2026 figure ranks as the highest quarterly Capital Expenditures since Q1 2023.
- Year over year, Capital Expenditures has now increased in each of the last six quarters, with growth averaging 22.2% over the last eight quarters.
- The high point for year-over-year Capital Expenditures in five years was Q2 2022 (growth of 942.1%); the low point was Q4 2023 (a decline of 49.8%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $818 million (Q2 2026), $630 million (Q1 2026) and $751 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 172.47 Bn | 164.72 Bn | - | 1.02 Bn |
| 2 | United Parcel Service | 92.24 Bn | 69.07 Bn | - | 497.00 Mn |
| 3 | Csx | 90.81 Bn | 86.03 Bn | - | 593.00 Mn |
| 4 | Canadian Pacific Kansas City | 81.61 Bn | 80.64 Bn | - | 437.89 Mn |
| 5 | Fedex | 72.98 Bn | 39.17 Bn | - | 1.47 Bn |
| 6 | Norfolk Southern | 71.87 Bn | 66.34 Bn | - | 586.00 Mn |
| 7 | Delta Air Lines | 57.23 Bn | 39.41 Bn | - | 1.41 Bn |
| 8 | United Airlines Holdings | 36.65 Bn | -21.05 Bn | - | 2.14 Bn |
| 9 | Old Dominion Freight Line | 34.12 Bn | 32.96 Bn | - | 67.04 Mn |
| 10 | Southwest Airlines | 21.75 Bn | 7.77 Bn | - | 1.01 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 1.01 Bn |
| Jun 30, 2026 | 818.00 Mn |
| Mar 31, 2026 | 630.00 Mn |
| Dec 31, 2025 | 751.00 Mn |
| Sep 30, 2025 | 735.00 Mn |
| Jun 30, 2025 | 660.00 Mn |
| Mar 31, 2025 | 527.00 Mn |
| Dec 31, 2024 | 434.00 Mn |
| Sep 30, 2024 | 527.00 Mn |
| Jun 30, 2024 | 500.00 Mn |
| Mar 31, 2024 | 592.00 Mn |
| Dec 31, 2023 | 685.00 Mn |
| Sep 30, 2023 | 850.00 Mn |
| Jun 30, 2023 | 933.00 Mn |
| Mar 31, 2023 | 1.05 Bn |
| Dec 31, 2022 | 1.36 Bn |
| Sep 30, 2022 | 1.08 Bn |
| Jun 30, 2022 | 990.00 Mn |
| Mar 31, 2022 | 514.00 Mn |
| Dec 31, 2021 | 183.00 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();