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

Southwest Airlines has reported Equity Ratio for 18 years, with the latest figure 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.
• The five-year high for Equity Ratio was 0.31 in Q4 2024, with the low at 0.23 in Q1 2026.
• Historically, Equity Ratio has averaged 0.29 across 5 years, with a median of 0.29 in 2023.
• Annual changes were most pronounced in 2022 — Equity Ratio advanced 14.49% — and 2026, when it dropped 16.94%.
• Southwest Airlines' Equity Ratio stood at 0.3 in 2022, then dropped by 4.62% to 0.29 in 2023, then grew by 6.41% to 0.31 in 2024, then decreased by 10.45% to 0.27 in 2025, then dropped 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.