Southwest Airlines (LUV) EBT Margin (2009 - 2026)
Southwest Airlines (LUV) reported EBT Margin of 3.93% for Q1 2026, up 692.0% on a YoY basis from 0.5% in Q1 2025, and down 28.29% quarter-over-quarter from 5.48% in Q4 2025.
Southwest Airlines (LUV) EBT Margin (2009 - 2026) Analysis & Trends
Southwest Airlines has reported EBT Margin for 18 years, with the latest figure at 3.93% in Q1 2026.
- For the quarter ending Q1 2026, EBT Margin rose 692.0% year-over-year to 3.93%; the trailing twelve-month figure through Mar 2026 stood at 3.6% (up 105.0% YoY), and the FY2025 full-year result was 2.01%, down 17.0% from the prior year.
- EBT Margin for Q1 2026 stood at 3.93%, down from 5.48% in the prior quarter.
- The five-year high for EBT Margin was 15.4% in Q2 2022, with the low at 8.01% in Q1 2022.
- Historically, EBT Margin has averaged 2.12% across 5 years, with a median of 3.63% in 2023.
- Annual changes were most pronounced in 2022 — EBT Margin sank 1513 bps — and 2024, when it jumped 894 bps.
- Southwest Airlines' EBT Margin stood at 4.62% in 2022, then rose by 9 bps to 4.19% in 2023, then jumped by 213 bps to 4.75% in 2024, then increased by 15 bps to 5.48% in 2025, then retreated by 28 bps to 3.93% in 2026.
- The last three EBT Margin figures came in at 3.93% (Q1 2026), 5.48% (Q4 2025), and 0.98% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ryanair Holdings | 453.97 Bn | 448.50 Bn | 1.55 Bn | -19.61% |
| 2 | Delta Air Lines | 54.89 Bn | 49.84 Bn | 15.19 Bn | -1.35% |
| 3 | Grupo Aeromexico, S.A.B. de C.V | 47.52 Bn | 46.49 Bn | -239.00 Mn | 17.11% |
| 4 | Southwest Airlines | 23.88 Bn | 20.55 Bn | 6.21 Bn | 3.93% |
| 5 | Copa Holdings | 6.22 Bn | 4.88 Bn | 713.71 Mn | 19.94% |
| 6 | Alaska Air | 5.64 Bn | 3.87 Bn | 3.20 Bn | -9.61% |
| 7 | Skywest | 3.71 Bn | 3.08 Bn | 924.11 Mn | 10.64% |
| 8 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 2.23 Bn | 2.23 Bn | - | -11.56% |
| 9 | Jetblue Airways | 2.11 Bn | -62.86 Mn | 1.87 Bn | -15.00% |
| 10 | Allegiant Travel | 1.82 Bn | 921.81 Mn | 651.87 Mn | 9.83% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 3.93% |
| Dec 31, 2025 | 5.48% |
| Sep 30, 2025 | 0.98% |
| Jun 30, 2025 | 3.87% |
| Mar 31, 2025 | -2.99% |
| Dec 31, 2024 | 4.75% |
| Sep 30, 2024 | 1.30% |
| Jun 30, 2024 | 6.50% |
| Mar 31, 2024 | -4.71% |
| Dec 31, 2023 | -4.19% |
| Sep 30, 2023 | 3.63% |
| Jun 30, 2023 | 12.59% |
| Mar 31, 2023 | -3.59% |
| Dec 31, 2022 | -4.62% |
| Sep 30, 2022 | 5.68% |
| Jun 30, 2022 | 15.40% |
| Mar 31, 2022 | -8.01% |
| Dec 31, 2021 | 1.52% |
| Sep 30, 2021 | 12.82% |
| Jun 30, 2021 | 12.52% |