Southwest Airlines (LUV) Invested Capital (2009 - 2026)
Southwest Airlines (LUV) posted Invested Capital of $13.22 billion for Q3 2026, up 11.3% from $11.88 billion a year earlier and up 1.4% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, Southwest Airlines' Invested Capital came in at $12.88 billion, down 24.4% from FY2024.
- Annual Invested Capital has declined for four consecutive years, with a five-year compound annual growth rate of -7.7% (FY2020 to FY2025).
- In prior years, Southwest Airlines' Invested Capital was $17.05 billion in FY2024 (-8.0%), $18.52 billion in FY2023 (-1.3%), $18.78 billion in FY2022 (-11.2%) and $21.14 billion in FY2021 (+9.8%).
- The Q3 2026 figure stands as the highest quarterly Invested Capital since Q1 2025.
- On a year-over-year basis, Invested Capital increased in two of the last eight quarters, with an average decline of 14.9%.
- The strongest year-over-year quarter for Invested Capital in the past five years was Q3 2026, with growth of 11.3%; the weakest was Q3 2025, with a decline of 35.5%.
- According to Business Quant data, Invested Capital for the three prior quarters was $13.03 billion (Q2 2026), $12.26 billion (Q1 2026) and $12.88 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 172.47 Bn | 164.72 Bn | - | 52.34 Bn |
| 2 | United Parcel Service | 92.24 Bn | 69.07 Bn | - | 41.10 Bn |
| 3 | Csx | 90.81 Bn | 86.03 Bn | - | 33.19 Bn |
| 4 | Canadian Pacific Kansas City | 81.61 Bn | 80.64 Bn | - | 51.16 Bn |
| 5 | Fedex | 72.98 Bn | 39.17 Bn | - | 56.62 Bn |
| 6 | Norfolk Southern | 71.87 Bn | 66.34 Bn | - | 33.34 Bn |
| 7 | Delta Air Lines | 57.23 Bn | 39.41 Bn | - | 36.46 Bn |
| 8 | United Airlines Holdings | 36.65 Bn | -21.05 Bn | - | 44.15 Bn |
| 9 | Old Dominion Freight Line | 34.12 Bn | 32.96 Bn | - | 4.69 Bn |
| 10 | Southwest Airlines | 21.75 Bn | 7.77 Bn | - | 13.22 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 13.22 Bn |
| Jun 30, 2026 | 13.03 Bn |
| Mar 31, 2026 | 12.26 Bn |
| Dec 31, 2025 | 12.88 Bn |
| Sep 30, 2025 | 11.88 Bn |
| Jun 30, 2025 | 12.10 Bn |
| Mar 31, 2025 | 16.06 Bn |
| Dec 31, 2024 | 17.05 Bn |
| Sep 30, 2024 | 18.42 Bn |
| Jun 30, 2024 | 18.46 Bn |
| Mar 31, 2024 | 18.20 Bn |
| Dec 31, 2023 | 18.52 Bn |
| Sep 30, 2023 | 19.07 Bn |
| Jun 30, 2023 | 18.81 Bn |
| Mar 31, 2023 | 18.33 Bn |
| Dec 31, 2022 | 18.78 Bn |
| Sep 30, 2022 | 19.62 Bn |
| Jun 30, 2022 | 21.66 Bn |
| Mar 31, 2022 | 21.14 Bn |
| Dec 31, 2021 | 21.14 Bn |
API Access
Southwest Airlines Invested Capital 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=invested-capital&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();