Southwest Airlines (LUV) Common Equity (2009 - 2026)
Southwest Airlines' Common Equity was $7.08 billion in Q2 2026, down 11.5% from $8 billion a year earlier but up 3.0% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Common Equity (2009 - 2026) Analysis & Trends
At the end of FY2025, Common Equity at Southwest Airlines came in at $7.98 billion, down 22.9% from FY2024.
- Common Equity has now declined for three consecutive years, with a five-year compound annual growth rate of -2.1% (FY2020 to FY2025).
- In earlier years, Common Equity was $10.35 billion in FY2024 (-1.6%), $10.52 billion in FY2023 (-1.6%), $10.69 billion in FY2022 (+2.6%) and $10.41 billion in FY2021 (+17.3%).
- Quarterly Common Equity has moved between $6.88 billion (Q1 2026) and $11.12 billion (Q2 2022) over five years.
- Compared with a year earlier, Common Equity has declined for 11 straight quarters, with an average decline of 15.7% over the last eight quarters.
- The best year-over-year quarter for Common Equity over five years was Q4 2021 (growth of 17.3%); the worst was Q1 2026 (a decline of 26.6%).
- Per Business Quant data, LUV's Common Equity in the three quarters before Q2 2026 was $6.88 billion (Q1 2026), $7.98 billion (Q4 2025) and $7.78 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Common Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 170.50 Bn | 165.03 Bn | - | 20.67 Bn |
| 2 | Csx | 88.86 Bn | 85.07 Bn | - | 14.09 Bn |
| 3 | United Parcel Service | 82.91 Bn | 59.81 Bn | - | 15.10 Bn |
| 4 | Canadian Pacific Kansas City | 76.79 Bn | 75.81 Bn | - | 33.50 Bn |
| 5 | Norfolk Southern | 72.78 Bn | 67.42 Bn | - | 16.25 Bn |
| 6 | Fedex | 69.54 Bn | 35.48 Bn | - | 31.65 Bn |
| 7 | Delta Air Lines | 48.82 Bn | 31.01 Bn | - | 22.51 Bn |
| 8 | Old Dominion Freight Line | 38.83 Bn | 38.10 Bn | - | 4.55 Bn |
| 9 | United Airlines Holdings | 31.02 Bn | -25.36 Bn | - | 16.70 Bn |
| 10 | Southwest Airlines | 18.96 Bn | 5.59 Bn | - | 7.08 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 7.08 Bn |
| Mar 31, 2026 | 6.88 Bn |
| Dec 31, 2025 | 7.98 Bn |
| Sep 30, 2025 | 7.78 Bn |
| Jun 30, 2025 | 8.00 Bn |
| Mar 31, 2025 | 9.37 Bn |
| Dec 31, 2024 | 10.35 Bn |
| Sep 30, 2024 | 10.41 Bn |
| Jun 30, 2024 | 10.47 Bn |
| Mar 31, 2024 | 10.20 Bn |
| Dec 31, 2023 | 10.52 Bn |
| Sep 30, 2023 | 11.05 Bn |
| Jun 30, 2023 | 10.79 Bn |
| Mar 31, 2023 | 10.30 Bn |
| Dec 31, 2022 | 10.69 Bn |
| Sep 30, 2022 | 10.92 Bn |
| Jun 30, 2022 | 11.12 Bn |
| Mar 31, 2022 | 10.42 Bn |
| Dec 31, 2021 | 10.41 Bn |
| Sep 30, 2021 | 10.25 Bn |
API Access
Southwest Airlines Common Equity 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=common-equity&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "common-equity", "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=common-equity&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();