Southwest Airlines (LUV) EBITDA (2009 - 2026)
Southwest Airlines' EBITDA was $687 million in Q2 2026, up 9.9% from $625 million a year earlier but down 5.6% from the prior quarter.
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Analysis
Southwest Airlines (LUV) EBITDA (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Southwest Airlines' EBITDA was $2.61 billion through Jun 30, 2026, up 33.0% year-over-year; for FY2025, it came in at $1.99 billion, up 0.5% from FY2024.
- In earlier years, EBITDA was $1.98 billion in FY2024 (+13.3%), $1.75 billion in FY2023 (-26.3%), $2.37 billion in FY2022 (-20.9%) and $2.99 billion in FY2021.
- Quarterly EBITDA has moved between -$18 million (Q4 2022) and $1.48 billion (Q2 2022) over five years.
- Compared with a year earlier, EBITDA has increased for three straight quarters, with growth averaging 51.1% over the last six quarters.
- The best year-over-year quarter for EBITDA over five years was Q1 2026 (growth of 320.8%); the worst was Q1 2024 (a decline of 81.5%).
- Per Business Quant data, LUV's EBITDA in the three quarters before Q2 2026 was $728 million (Q1 2026), $762 million (Q4 2025) and $429 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 170.50 Bn | 165.03 Bn | - | 3.40 Bn |
| 2 | Csx | 88.86 Bn | 85.07 Bn | - | 1.92 Bn |
| 3 | United Parcel Service | 82.91 Bn | 59.81 Bn | - | 1.91 Bn |
| 4 | Canadian Pacific Kansas City | 76.79 Bn | 75.81 Bn | - | 1.44 Bn |
| 5 | Norfolk Southern | 72.78 Bn | 67.42 Bn | - | 1.48 Bn |
| 6 | Fedex | 69.54 Bn | 35.48 Bn | - | 2.68 Bn |
| 7 | Delta Air Lines | 48.82 Bn | 31.01 Bn | - | 2.13 Bn |
| 8 | Old Dominion Freight Line | 38.83 Bn | 38.10 Bn | - | 557.01 Mn |
| 9 | United Airlines Holdings | 31.02 Bn | -25.36 Bn | - | 1.86 Bn |
| 10 | Southwest Airlines | 18.96 Bn | 5.59 Bn | - | 687.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 687.00 Mn |
| Mar 31, 2026 | 728.00 Mn |
| Dec 31, 2025 | 762.00 Mn |
| Sep 30, 2025 | 429.00 Mn |
| Jun 30, 2025 | 625.00 Mn |
| Mar 31, 2025 | 173.00 Mn |
| Dec 31, 2024 | 685.00 Mn |
| Sep 30, 2024 | 476.00 Mn |
| Jun 30, 2024 | 802.00 Mn |
| Mar 31, 2024 | 15.00 Mn |
| Dec 31, 2023 | 11.00 Mn |
| Sep 30, 2023 | 492.00 Mn |
| Jun 30, 2023 | 1.16 Bn |
| Mar 31, 2023 | 81.00 Mn |
| Dec 31, 2022 | -18.00 Mn |
| Sep 30, 2022 | 730.00 Mn |
| Jun 30, 2022 | 1.48 Bn |
| Mar 31, 2022 | 173.00 Mn |
| Dec 31, 2021 | 518.00 Mn |
| Sep 30, 2021 | 1.06 Bn |
API Access
Southwest Airlines EBITDA 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=ebitda&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "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=ebitda&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();