Southwest Airlines (LUV) EBT Margin (2009 - 2026)
Southwest Airlines (LUV) posted quarterly EBT Margin of 3.63% for Q2 2026, down 24.0% year-on-year from 4.78% in Q2 2025, and down 7.7% on a QoQ basis from 3.93% in Q1 2026.
Southwest Airlines (LUV) EBT Margin (2009 - 2026) Analysis & Trends
Southwest Airlines (LUV) has reported EBT Margin for 18 consecutive years, with 3.63% the latest figure, recorded in Q2 2026.
- Quarterly EBT Margin fell 24.0% year-over-year to 3.63% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 3.55% (up 171.0% YoY) and the FY2025 annual result came in at 2.01%, down 17.0% from the prior year.
- EBT Margin eased to 3.63% in Q2 2026 per LUV's latest filing, from 3.93% in the prior quarter.
- Over the last five years, EBT Margin for LUV reached as high as 15.4% in Q2 2022 and fell as low as 8.01% in Q1 2022.
- A 5-year average of 2.2% and a median of 3.63% in 2023 frame the typical range for EBT Margin.
- Annual changes were most pronounced in 2022 — EBT Margin plunged 1513 bps — and 2024, when it surged 894 bps.
- Year by year, EBT Margin stood at 4.62% in 2022, then climbed by 9 bps to 4.19% in 2023, then jumped by 213 bps to 4.75% in 2024, then advanced by 15 bps to 5.48% in 2025, then tumbled by 34 bps to 3.63% in 2026.
- According to Business Quant data, EBT Margin over the past three periods registered 3.63%, 3.93%, and 5.48% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Latam Airlines | 30,820.50 Bn | 30,817.83 Bn | 1.28 Mn | 0.02% |
| 2 | Ryanair Holdings | 60.62 Bn | 57.43 Bn | - | - |
| 3 | Delta Air Lines | 56.47 Bn | 51.80 Bn | 19.07 Bn | 10.17% |
| 4 | Southwest Airlines | 22.19 Bn | 18.40 Bn | 7.33 Bn | 3.63% |
| 5 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.95 Bn | 8.12 Bn | - | -21.54% |
| 6 | Copa Holdings | 5.72 Bn | 4.39 Bn | 713.71 Mn | 19.94% |
| 7 | Alaska Air | 5.41 Bn | 3.64 Bn | 3.20 Bn | -9.61% |
| 8 | Skywest | 4.36 Bn | 3.75 Bn | 1.01 Bn | 12.59% |
| 9 | Jetblue Airways | 2.00 Bn | 1.59 Bn | 1.87 Bn | -15.00% |
| 10 | Allegiant Travel | 1.82 Bn | 915.81 Mn | 651.87 Mn | 9.83% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 3.63% |
| 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% |