Southwest Airlines (LUV) EBITDA (2009 - 2026)
Southwest Airlines' (LUV) quarterly EBITDA came in at $285.0 million in Q2 2026, up 26.67% YoY from $225.0 million in Q2 2025, and down 13.64% on a QoQ basis from $330.0 million in Q1 2026.
Southwest Airlines (LUV) EBITDA (2009 - 2026) Analysis & Trends
Southwest Airlines (LUV) has 18 years of EBITDA data on file, last reported at $285.0 million in Q2 2026.
- Quarterly EBITDA rose 26.67% year-over-year to $285.0 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $1.0 billion (up 227.36% YoY) and the FY2025 annual result came in at $428.0 million, up 33.33% from the prior year.
- EBITDA retreated to $285.0 million in Q2 2026, from $330.0 million in the prior quarter.
- In the past five years, EBITDA ranged from a high of $1.2 billion in Q2 2022 to a low of -$404.0 million in Q4 2023.
- A 5-year average of $144.7 million and a median of $171.0 million in 2023 frame the typical range for EBITDA.
- Annual changes were most pronounced in 2022 — EBITDA slumped 297.44% — and 2026, when it soared 247.98%.
- Tracing LUV's EBITDA over 5 years: stood at -$385.0 million in 2022, then retreated by 4.94% to -$404.0 million in 2023, then surged by 168.81% to $278.0 million in 2024, then jumped by 40.65% to $391.0 million in 2025, then fell by 27.11% to $285.0 million in 2026.
- The last three EBITDA figures came in at $285.0 million (Q2 2026), $330.0 million (Q1 2026), and $391.0 million (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.01 Bn | 48.34 Bn | 19.07 Bn | 1.86 Bn |
| 2 | Ryanair Holdings | 28.78 Bn | 25.56 Bn | - | 1.15 Bn |
| 3 | Southwest Airlines | 19.50 Bn | 15.71 Bn | 7.33 Bn | 285.00 Mn |
| 4 | Copa Holdings | 5.30 Bn | 4.04 Bn | 1.03 Bn | 91.66 Mn |
| 5 | Alaska Air | 4.46 Bn | 1.80 Bn | 3.76 Bn | -168.00 Mn |
| 6 | Skywest | 3.98 Bn | 3.38 Bn | 1.01 Bn | 155.83 Mn |
| 7 | Jetblue Airways | 1.79 Bn | -232.60 Mn | 2.32 Bn | -141.00 Mn |
| 8 | Allegiant Travel | 1.75 Bn | 695.62 Mn | 902.77 Mn | 21.11 Mn |
| 9 | Frontier Group Holdings | 1.33 Bn | 373.12 Mn | - | -97.00 Mn |
| 10 | Republic Airways Holdings | 843.32 Mn | 565.72 Mn | 487.40 Mn | 58.70 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 285.00 Mn |
| Mar 31, 2026 | 330.00 Mn |
| Dec 31, 2025 | 391.00 Mn |
| Sep 30, 2025 | 35.00 Mn |
| Jun 30, 2025 | 225.00 Mn |
| Mar 31, 2025 | -223.00 Mn |
| Dec 31, 2024 | 278.00 Mn |
| Sep 30, 2024 | 38.00 Mn |
| Jun 30, 2024 | 398.00 Mn |
| Mar 31, 2024 | -393.00 Mn |
| Dec 31, 2023 | -404.00 Mn |
| Sep 30, 2023 | 117.00 Mn |
| Jun 30, 2023 | 795.00 Mn |
| Mar 31, 2023 | -284.00 Mn |
| Dec 31, 2022 | -385.00 Mn |
| Sep 30, 2022 | 395.00 Mn |
| Jun 30, 2022 | 1.16 Bn |
| Mar 31, 2022 | -151.00 Mn |
| Dec 31, 2021 | 195.00 Mn |
| Sep 30, 2021 | 733.00 Mn |