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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Southwest Airlines (LUV) Debt to Equity (2016 - 2026)

Southwest Airlines has reported Debt to Equity over the past 18 years, most recently at $0.78 for Q1 2026.

  • Quarterly Debt to Equity rose 9.62% to $0.78 in Q1 2026 from the year-ago period, while the trailing twelve-month figure was $0.78 through Mar 2026, up 9.62% year-over-year, with the annual reading at $0.61 for FY2025, 5.12% down from the prior year.
  • Debt to Equity was $0.78 for Q1 2026 at Southwest Airlines, up from $0.61 in the prior quarter.
  • Over five years, Debt to Equity peaked at $1.03 in Q1 2022 and troughed at $0.51 in Q2 2025.
  • The 5-year median for Debt to Equity is $0.76 (2023), against an average of $0.74.
  • Biggest five-year swings in Debt to Equity: tumbled 32.88% in 2025 and later grew 9.62% in 2026.
  • Tracing LUV's Debt to Equity over 5 years: stood at $0.76 in 2022, then increased by 0.62% to $0.76 in 2023, then dropped by 15.0% to $0.65 in 2024, then fell by 5.12% to $0.61 in 2025, then rose by 27.6% to $0.78 in 2026.
  • According to Business Quant data, Debt to Equity over the past three periods came in at $0.78, $0.61, and $0.53 for Q1 2026, Q4 2025, and Q3 2025 respectively.