KPIs & Operating Metrics(New)
Balance Sheet
Cash Flow Statement
Daily Values
Growth Metrics
Income Statement
Others
Ratios
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) Gross Margin (2016 - 2026)

Southwest Airlines has reported Gross Margin over the past 18 years, most recently at 81.29% for Q1 2026.

  • Quarterly Gross Margin rose 72.0% to 81.29% in Q1 2026 from the year-ago period, while the trailing twelve-month figure was 83.61% through Mar 2026, down 241.0% year-over-year, with the annual reading at 84.08% for FY2025, 86.0% down from the prior year.
  • Gross Margin was 81.29% for Q1 2026 at Southwest Airlines, down from 84.94% in the prior quarter.
  • Over five years, Gross Margin peaked at 107.55% in Q4 2023 and troughed at 41.15% in Q4 2022.
  • The 5-year median for Gross Margin is 83.58% (2025), against an average of 82.71%.
  • Biggest five-year swings in Gross Margin: crashed -5621bps in 2022 and later skyrocketed 6639bps in 2023.
  • Tracing LUV's Gross Margin over 5 years: stood at 41.15% in 2022, then skyrocketed by 161bps to 107.55% in 2023, then fell by -2bps to 105.92% in 2024, then dropped by -20bps to 84.94% in 2025, then decreased by -4bps to 81.29% in 2026.
  • According to Business Quant data, Gross Margin over the past three periods came in at 81.29%, 84.94%, and 83.84% for Q1 2026, Q4 2025, and Q3 2025 respectively.