Southwest Airlines (LUV) Capital Expenditures (2009 - 2026)
Southwest Airlines' (LUV) quarterly Capital Expenditures came in at $818.0 million in Q2 2026, up 23.94% YoY from $660.0 million in Q2 2025, and up 29.84% on a QoQ basis from $630.0 million in Q1 2026.
Southwest Airlines (LUV) Capital Expenditures (2009 - 2026) Analysis & Trends
Southwest Airlines (LUV) has 18 years of Capital Expenditures data on file, last reported at $818.0 million in Q2 2026.
- Quarterly Capital Expenditures rose 23.94% year-over-year to $818.0 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $3.0 billion (up 37.94% YoY) and the FY2025 annual result came in at $2.7 billion, up 30.14% from the prior year.
- Capital Expenditures advanced to $818.0 million in Q2 2026, from $630.0 million in the prior quarter.
- In the past five years, Capital Expenditures ranged from a high of $1.1 billion in Q3 2022 to a low of $44.0 million in Q4 2023.
- A 5-year average of $614.4 million and a median of $606.5 million in 2024 frame the typical range for Capital Expenditures.
- Annual changes were most pronounced in 2023 — Capital Expenditures plunged 87.95% — and 2024, when it jumped 945.45%.
- Tracing LUV's Capital Expenditures over 5 years: stood at $365.0 million in 2022, then sank by 87.95% to $44.0 million in 2023, then jumped by 945.45% to $460.0 million in 2024, then surged by 86.74% to $859.0 million in 2025, then dropped by 4.77% to $818.0 million in 2026.
- The last three Capital Expenditures figures came in at $818.0 million (Q2 2026), $630.0 million (Q1 2026), and $859.0 million (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.85 Bn | 49.18 Bn | 19.07 Bn | -786.00 Mn |
| 2 | Ryanair Holdings | 29.13 Bn | 25.92 Bn | - | -551.77 Mn |
| 3 | Southwest Airlines | 19.63 Bn | 15.84 Bn | 7.33 Bn | 818.00 Mn |
| 4 | Copa Holdings | 5.35 Bn | 4.09 Bn | 1.03 Bn | - |
| 5 | Alaska Air | 4.47 Bn | 1.81 Bn | 3.76 Bn | 78.00 Mn |
| 6 | Skywest | 4.01 Bn | 3.41 Bn | 1.01 Bn | 8.01 Mn |
| 7 | Allegiant Travel | 1.84 Bn | 782.00 Mn | 902.77 Mn | 120.71 Mn |
| 8 | Jetblue Airways | 1.80 Bn | -217.56 Mn | 2.32 Bn | 222.00 Mn |
| 9 | Frontier Group Holdings | 1.34 Bn | 383.47 Mn | - | 32.00 Mn |
| 10 | Republic Airways Holdings | 856.57 Mn | 578.97 Mn | 487.40 Mn | 20.50 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 818.00 Mn |
| Jun 30, 2026 | 818.00 Mn |
| Mar 31, 2026 | 630.00 Mn |
| Mar 31, 2026 | 630.00 Mn |
| Dec 31, 2025 | 859.00 Mn |
| Dec 31, 2025 | 859.00 Mn |
| Sep 30, 2025 | 678.00 Mn |
| Sep 30, 2025 | 678.00 Mn |
| Jun 30, 2025 | 660.00 Mn |
| Jun 30, 2025 | 660.00 Mn |
| Mar 31, 2025 | 527.00 Mn |
| Mar 31, 2025 | 527.00 Mn |
| Dec 31, 2024 | 460.00 Mn |
| Dec 31, 2024 | 460.00 Mn |
| Sep 30, 2024 | 517.00 Mn |
| Sep 30, 2024 | 517.00 Mn |
| Jun 30, 2024 | 494.00 Mn |
| Jun 30, 2024 | 494.00 Mn |
| Mar 31, 2024 | 583.00 Mn |
| Mar 31, 2024 | 583.00 Mn |