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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Southwest Airlines (LUV) Equity Ratio (2009 - 2026)

Southwest Airlines posted quarterly Equity Ratio of 0.23 for Q1 2026, down 16.94% year-on-year from 0.28 in Q1 2025, and down 14.72% on a QoQ basis from 0.27 in Q4 2025.

Southwest Airlines (LUV) has 18 years of Equity Ratio data on file, last reported at 0.23 in Q1 2026.

  • For the quarter ending Q1 2026, Equity Ratio fell 16.94% year-over-year to 0.23; the trailing twelve-month figure through Mar 2026 stood at 0.23 (down 16.94% YoY), and the FY2025 full-year result was 0.27, down 10.45% from the prior year.
  • Equity Ratio for Q1 2026 stood at 0.23, down from 0.27 in the prior quarter.
  • Across five years, Equity Ratio topped out at 0.31 in Q4 2024 and bottomed at 0.23 in Q1 2026.
  • The 5-year median for Equity Ratio is 0.29 (2023), against an average of 0.29.
  • The widest annual swing landed in 2022, when Equity Ratio advanced 14.49%; it then dropped 16.94% in 2026.
  • A 5-year view of Equity Ratio shows it stood at 0.3 in 2022, then declined by 4.62% to 0.29 in 2023, then increased by 6.41% to 0.31 in 2024, then slipped by 10.45% to 0.27 in 2025, then declined by 14.72% to 0.23 in 2026.
  • The last three Equity Ratio figures came in at 0.23 (Q1 2026), 0.27 (Q4 2025), and 0.27 (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Equity Ratio (Qtr)
1 Delta Air Lines 53.78 Bn 48.72 Bn 15.19 Bn 0.24
2 Southwest Airlines 21.39 Bn 18.06 Bn 6.21 Bn 0.23
3 Grupo Aeromexico, S.A.B. de C.V 18.50 Bn 17.47 Bn -239.00 Mn -
4 Controladora Vuela Compania de Aviacion, S.A.B. de C.V 8.98 Bn 8.98 Bn - -
5 Alaska Air 5.26 Bn 3.49 Bn 3.20 Bn 0.18
6 Skywest 3.43 Bn 2.80 Bn 924.11 Mn 0.37
7 Copa Holdings 3.33 Bn 1.99 Bn 713.71 Mn 0.42
8 Jetblue Airways 2.03 Bn -140.72 Mn 1.87 Bn 0.11
9 Allegiant Travel 1.67 Bn 765.78 Mn 651.87 Mn 0.25
10 Frontier Group Holdings 1.39 Bn 618.26 Mn 724.00 Mn 0.03

Historic Data

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DateValue
Mar 31, 2026 0.23
Dec 31, 2025 0.27
Sep 30, 2025 0.27
Jun 30, 2025 0.28
Mar 31, 2025 0.28
Dec 31, 2024 0.31
Sep 30, 2024 0.30
Jun 30, 2024 0.29
Mar 31, 2024 0.28
Dec 31, 2023 0.29
Sep 30, 2023 0.30
Jun 30, 2023 0.30
Mar 31, 2023 0.29
Dec 31, 2022 0.30
Sep 30, 2022 0.30
Jun 30, 2022 0.29
Mar 31, 2022 0.28
Dec 31, 2021 0.29
Sep 30, 2021 0.28
Jun 30, 2021 0.25
Mar 31, 2021 0.26
Dec 31, 2020 0.26
Sep 30, 2020 0.27
Jun 30, 2020 0.31
Mar 31, 2020 0.34
Dec 31, 2019 0.38
Sep 30, 2019 0.38
Jun 30, 2019 0.38
Mar 31, 2019 0.37
Dec 31, 2018 0.38
Sep 30, 2018 0.38
Jun 30, 2018 0.38
Mar 31, 2018 0.38
Dec 31, 2017 0.38
Sep 30, 2017 0.36
Jun 30, 2017 0.36
Mar 31, 2017 0.35
Dec 31, 2016 0.33
Sep 30, 2016 0.35
Jun 30, 2016 0.35
Mar 31, 2016 0.34
Dec 31, 2015 0.32
Sep 30, 2015 0.33
Jun 30, 2015 0.34
Mar 31, 2015 0.33
Dec 31, 2014 0.34
Sep 30, 2014 0.36
Jun 30, 2014 0.36
Mar 31, 2014 0.36
Dec 31, 2013 0.38
Sep 30, 2013 0.36
Jun 30, 2013 0.35
Mar 31, 2013 0.36
Dec 31, 2012 0.38
Sep 30, 2012 0.37
Jun 30, 2012 0.37
Mar 31, 2012 0.38
Dec 31, 2011 0.38
Sep 30, 2011 0.36
Jun 30, 2011 0.38
Mar 31, 2011 0.40
Dec 31, 2010 0.40
Sep 30, 2010 0.39
Jun 30, 2010 0.37
Mar 31, 2010 0.38
Dec 31, 2009 0.38
Sep 30, 2009 0.37
Jun 30, 2009 0.37
Mar 31, 2009 0.35