Southwest Airlines (LUV) EBT (2009 - 2026)
Southwest Airlines (LUV) recorded EBT of $306 million in Q2 2026, up 9.3% from $280 million a year earlier and up 7.4% from the prior quarter.
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Analysis
Southwest Airlines (LUV) EBT (2009 - 2026) Analysis & Trends
On a TTM basis, Southwest Airlines' EBT came in at $1.07 billion as of Jun 30, 2026, up 110.9% year-over-year; for FY2025, it came in at $563 million, down 5.9% from FY2024.
- Annual EBT has declined for four straight years.
- Across earlier years, EBT came in at $598 million in FY2024 (-5.5%), $633 million in FY2023 (-13.0%), $728 million in FY2022 (-45.1%) and $1.33 billion in FY2021.
- Quarterly EBT has ranged from -$376 million in Q1 2022 to $1.04 billion in Q2 2022 over the past five years.
- On a year-over-year basis, EBT rose in two of the last five quarters, with an average decline of 18.8%.
- Peak year-over-year performance for EBT in the last five years was growth of 106.4% in Q2 2022, against a decline of 62.4% in Q3 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $285 million (Q1 2026), $408 million (Q4 2025) and $68 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 170.55 Bn | 165.08 Bn | - | 2.56 Bn |
| 2 | Csx | 89.33 Bn | 85.54 Bn | - | 1.32 Bn |
| 3 | United Parcel Service | 84.32 Bn | 61.22 Bn | - | 761.00 Mn |
| 4 | Canadian Pacific Kansas City | 77.56 Bn | 76.57 Bn | - | 982.46 Mn |
| 5 | Norfolk Southern | 73.05 Bn | 67.69 Bn | - | 959.00 Mn |
| 6 | Fedex | 71.26 Bn | 37.21 Bn | - | 2.11 Bn |
| 7 | Delta Air Lines | 50.30 Bn | 32.48 Bn | - | 1.07 Bn |
| 8 | Old Dominion Freight Line | 39.30 Bn | 38.56 Bn | - | 467.47 Mn |
| 9 | United Airlines Holdings | 31.95 Bn | -24.43 Bn | - | 1.03 Bn |
| 10 | Southwest Airlines | 19.52 Bn | 6.15 Bn | - | 306.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 306.00 Mn |
| Mar 31, 2026 | 285.00 Mn |
| Dec 31, 2025 | 408.00 Mn |
| Sep 30, 2025 | 68.00 Mn |
| Jun 30, 2025 | 280.00 Mn |
| Mar 31, 2025 | -192.00 Mn |
| Dec 31, 2024 | 329.00 Mn |
| Sep 30, 2024 | 89.00 Mn |
| Jun 30, 2024 | 478.00 Mn |
| Mar 31, 2024 | -298.00 Mn |
| Dec 31, 2023 | -286.00 Mn |
| Sep 30, 2023 | 237.00 Mn |
| Jun 30, 2023 | 886.00 Mn |
| Mar 31, 2023 | -205.00 Mn |
| Dec 31, 2022 | -285.00 Mn |
| Sep 30, 2022 | 353.00 Mn |
| Jun 30, 2022 | 1.04 Bn |
| Mar 31, 2022 | -376.00 Mn |
| Dec 31, 2021 | 77.00 Mn |
| Sep 30, 2021 | 600.00 Mn |
API Access
Southwest Airlines EBT 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=ebt&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebt", "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=ebt&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();