Southwest Airlines (LUV) EV to EBITDA (2009 - 2026)
Southwest Airlines' EV to EBITDA was 8.20 in Q2 2026, up 21.7% from 6.74 a year earlier and up 38.7% from the prior quarter.
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Analysis
Southwest Airlines (LUV) EV to EBITDA (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Southwest Airlines' EV to EBITDA was 4.52 through Jun 30, 2026; for FY2025, it was 8.59, up 51.7% from FY2024.
- EV to EBITDA has now increased for three consecutive years.
- In earlier years, EV to EBITDA was 5.66 in FY2024 (+71.7%), 3.30 in FY2023 (+1.2%), 3.26 in FY2022 (-1.2%) and 3.30 in FY2021.
- Quarterly EV to EBITDA has moved between 1.55 (Q2 2022) and 8.91 (Q3 2021) over five years.
- Compared with a year earlier, EV to EBITDA has increased for 13 straight quarters, with growth averaging 46.1% over the last eight quarters.
- The best year-over-year quarter for EV to EBITDA over five years was Q2 2023 (growth of 210.1%); the worst was Q3 2022 (a decline of 82.1%).
- Per Business Quant data, LUV's EV to EBITDA in the three quarters before Q2 2026 was 5.91 (Q1 2026), 8.58 (Q4 2025) and 7.05 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Union Pacific | 171.17 Bn | 165.70 Bn | - |
| 2 | Csx | 89.07 Bn | 85.28 Bn | - |
| 3 | United Parcel Service | 83.92 Bn | 60.81 Bn | - |
| 4 | Canadian Pacific Kansas City | 77.77 Bn | 76.79 Bn | - |
| 5 | Norfolk Southern | 73.20 Bn | 67.84 Bn | - |
| 6 | Fedex | 70.35 Bn | 36.29 Bn | - |
| 7 | Delta Air Lines | 49.88 Bn | 32.06 Bn | - |
| 8 | Old Dominion Freight Line | 38.98 Bn | 38.24 Bn | - |
| 9 | United Airlines Holdings | 31.85 Bn | -24.53 Bn | - |
| 10 | Southwest Airlines | 19.53 Bn | 6.17 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 8.20 |
| Mar 31, 2026 | 5.91 |
| Dec 31, 2025 | 8.58 |
| Sep 30, 2025 | 7.05 |
| Jun 30, 2025 | 6.74 |
| Mar 31, 2025 | 5.10 |
| Dec 31, 2024 | 5.66 |
| Sep 30, 2024 | 6.43 |
| Jun 30, 2024 | 5.41 |
| Mar 31, 2024 | 4.14 |
| Dec 31, 2023 | 3.30 |
| Sep 30, 2023 | 2.56 |
| Jun 30, 2023 | 4.80 |
| Mar 31, 2023 | 3.38 |
| Dec 31, 2022 | 3.26 |
| Sep 30, 2022 | 1.60 |
| Jun 30, 2022 | 1.55 |
| Mar 31, 2022 | 4.30 |
| Dec 31, 2021 | 3.30 |
| Sep 30, 2021 | 8.91 |
API Access
Southwest Airlines EV to EBITDA 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=ev-to-ebitda&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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=ev-to-ebitda&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();