Southwest Airlines (LUV) FCF Margin (2009 - 2026)
Southwest Airlines (LUV) posted quarterly FCF Margin of 3.42% for Q2 2026, up 16.0% year-on-year from 2.94% in Q2 2025, and down 131.42% on a QoQ basis from 10.87% in Q1 2026.
Southwest Airlines (LUV) FCF Margin (2009 - 2026) Analysis & Trends
Southwest Airlines (LUV) has reported FCF Margin for 18 consecutive years, with 3.42% the latest figure, recorded in Q2 2026.
- Quarterly FCF Margin rose 16.0% year-over-year to 3.42% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 1.51% (down 37.0% YoY) and the FY2025 annual result came in at 2.96%, up 283.0% from the prior year.
- FCF Margin eased to 3.42% in Q2 2026 per LUV's latest filing, from 10.87% in the prior quarter.
- Over the last five years, FCF Margin for LUV reached as high as 13.66% in Q2 2022 and fell as low as 13.47% in Q3 2022.
- A 5-year average of 0.44% and a median of 1.59% in 2024 frame the typical range for FCF Margin.
- Annual changes were most pronounced in 2022 — FCF Margin plunged 3400 bps — and 2025, when it jumped 1604 bps.
- Year by year, FCF Margin stood at 3.47% in 2022, then soared by 61 bps to 5.58% in 2023, then sank by 96 bps to 0.23% in 2024, then plunged by 3382 bps to 7.58% in 2025, then soared by 55 bps to 3.42% in 2026.
- According to Business Quant data, FCF Margin over the past three periods registered 3.42%, 10.87%, and 7.58% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Latam Airlines | 29,341.35 Bn | 29,338.67 Bn | 1.28 Mn | 0.01% |
| 2 | Ryanair Holdings | 183.33 Bn | 180.79 Bn | - | - |
| 3 | Delta Air Lines | 53.61 Bn | 48.95 Bn | 19.07 Bn | -2.27% |
| 4 | Southwest Airlines | 21.85 Bn | 18.53 Bn | 7.33 Bn | -3.42% |
| 5 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.69 Bn | 7.93 Bn | - | 31.66% |
| 6 | Copa Holdings | 5.59 Bn | 4.26 Bn | 713.71 Mn | -98.66% |
| 7 | Alaska Air | 5.12 Bn | 3.35 Bn | 3.20 Bn | 3.42% |
| 8 | Skywest | 3.85 Bn | 3.22 Bn | 1.01 Bn | 14.63% |
| 9 | Jetblue Airways | 1.85 Bn | 1.44 Bn | 1.87 Bn | -0.27% |
| 10 | Allegiant Travel | 1.72 Bn | 818.03 Mn | 651.87 Mn | 33.14% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -3.42% |
| Mar 31, 2026 | 10.87% |
| Dec 31, 2025 | -7.58% |
| Sep 30, 2025 | -5.63% |
| Jun 30, 2025 | -3.58% |
| Mar 31, 2025 | 5.18% |
| Dec 31, 2024 | 0.23% |
| Sep 30, 2024 | -5.88% |
| Jun 30, 2024 | -7.03% |
| Mar 31, 2024 | -10.85% |
| Dec 31, 2023 | 5.58% |
| Sep 30, 2023 | -3.46% |
| Jun 30, 2023 | 6.98% |
| Mar 31, 2023 | 10.83% |
| Dec 31, 2022 | 3.47% |
| Sep 30, 2022 | -13.47% |
| Jun 30, 2022 | 13.66% |
| Mar 31, 2022 | 11.95% |
| Dec 31, 2021 | 1.33% |
| Sep 30, 2021 | -15.17% |