Southwest Airlines (LUV) Debt Ratio (2009 - 2026)
Southwest Airlines' (LUV) Debt Ratio stood at 0.20 in Q2 2026, up 38.1% from 0.14 a year earlier and up 7.6% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Debt Ratio (2009 - 2026) Analysis & Trends
For FY2025, Southwest Airlines' Debt Ratio came in at 0.17, down 15.0% from FY2024.
- Annual Debt Ratio has declined for five straight years.
- Across earlier years, Debt Ratio came in at 0.20 in FY2024 (-9.6%), 0.22 in FY2023 (-4.0%), 0.23 in FY2022 (-22.6%) and 0.30 in FY2021 (-1.1%).
- The Q2 2026 figure is the highest quarterly Debt Ratio since Q1 2025.
- On a year-over-year basis, Debt Ratio rose in two of the last eight quarters, with an average decline of 9.0%.
- Peak year-over-year performance for Debt Ratio in the last five years was growth of 38.1% in Q2 2026, against a decline of 36.9% in Q3 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 0.18 (Q1 2026), 0.17 (Q4 2025) and 0.14 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 171.17 Bn | 165.70 Bn | - | 0.43 |
| 2 | Csx | 89.07 Bn | 85.28 Bn | - | 0.42 |
| 3 | United Parcel Service | 83.92 Bn | 60.81 Bn | - | 0.34 |
| 4 | Canadian Pacific Kansas City | 77.77 Bn | 76.79 Bn | - | 0.28 |
| 5 | Norfolk Southern | 73.20 Bn | 67.84 Bn | - | 0.37 |
| 6 | Fedex | 70.35 Bn | 36.29 Bn | - | 0.26 |
| 7 | Delta Air Lines | 49.88 Bn | 32.06 Bn | - | 0.16 |
| 8 | Old Dominion Freight Line | 38.98 Bn | 38.24 Bn | - | 0.00 |
| 9 | United Airlines Holdings | 31.85 Bn | -24.53 Bn | - | 0.31 |
| 10 | Southwest Airlines | 19.53 Bn | 6.17 Bn | - | 0.20 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.20 |
| Mar 31, 2026 | 0.18 |
| Dec 31, 2025 | 0.17 |
| Sep 30, 2025 | 0.14 |
| Jun 30, 2025 | 0.14 |
| Mar 31, 2025 | 0.20 |
| Dec 31, 2024 | 0.20 |
| Sep 30, 2024 | 0.23 |
| Jun 30, 2024 | 0.22 |
| Mar 31, 2024 | 0.22 |
| Dec 31, 2023 | 0.22 |
| Sep 30, 2023 | 0.22 |
| Jun 30, 2023 | 0.22 |
| Mar 31, 2023 | 0.23 |
| Dec 31, 2022 | 0.23 |
| Sep 30, 2022 | 0.24 |
| Jun 30, 2022 | 0.28 |
| Mar 31, 2022 | 0.29 |
| Dec 31, 2021 | 0.30 |
| Sep 30, 2021 | 0.30 |
API Access
Southwest Airlines Debt Ratio 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=debt-ratio&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "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=debt-ratio&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();