Southwest Airlines (LUV) Invested Capital (2009 - 2026)
Southwest Airlines posted quarterly Invested Capital of $7.4 billion for Q1 2026, down 22.13% year-on-year from $9.5 billion in Q1 2025, and down 42.87% on a QoQ basis from $12.9 billion in Q4 2025.
Southwest Airlines (LUV) has 18 years of Invested Capital data on file, last reported at $7.4 billion in Q1 2026.
- For the quarter ending Q1 2026, Invested Capital fell 22.13% year-over-year to $7.4 billion; the trailing twelve-month figure through Mar 2026 stood at $7.4 billion (down 22.13% YoY), and the FY2025 full-year result was $12.9 billion, down 24.27% from the prior year.
- Invested Capital for Q1 2026 stood at $7.4 billion, down from $12.9 billion in the prior quarter.
- Across five years, Invested Capital topped out at $17.0 billion in Q4 2024 and bottomed at $7.4 billion in Q1 2026.
- The 5-year median for Invested Capital is $10.6 billion (2023), against an average of $10.8 billion.
- The widest annual swing landed in 2024, when Invested Capital jumped 61.49%; it then retreated 24.27% in 2025.
- A 5-year view of Invested Capital shows it stood at $10.9 billion in 2022, then dropped by 2.81% to $10.6 billion in 2023, then surged by 61.49% to $17.0 billion in 2024, then declined by 24.27% to $12.9 billion in 2025, then plunged by 42.87% to $7.4 billion in 2026.
- The last three Invested Capital figures came in at $7.4 billion (Q1 2026), $12.9 billion (Q4 2025), and $8.3 billion (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.78 Bn | 48.72 Bn | 15.19 Bn | 33.61 Bn |
| 2 | Southwest Airlines | 21.39 Bn | 18.06 Bn | 6.21 Bn | 7.38 Bn |
| 3 | Grupo Aeromexico, S.A.B. de C.V | 18.50 Bn | 17.47 Bn | -239.00 Mn | 3.53 Bn |
| 4 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.98 Bn | 8.98 Bn | - | 394.00 Mn |
| 5 | Alaska Air | 5.26 Bn | 3.49 Bn | 3.20 Bn | 8.81 Bn |
| 6 | Skywest | 3.43 Bn | 2.80 Bn | 924.11 Mn | 3.33 Bn |
| 7 | Copa Holdings | 3.33 Bn | 1.99 Bn | 713.71 Mn | 4.76 Bn |
| 8 | Jetblue Airways | 2.03 Bn | -140.72 Mn | 1.87 Bn | 10.25 Bn |
| 9 | Allegiant Travel | 1.67 Bn | 765.78 Mn | 651.87 Mn | 2.89 Bn |
| 10 | Frontier Group Holdings | 1.39 Bn | 618.26 Mn | 724.00 Mn | 810.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 7.38 Bn |
| Dec 31, 2025 | 12.91 Bn |
| Sep 30, 2025 | 8.28 Bn |
| Jun 30, 2025 | 8.57 Bn |
| Mar 31, 2025 | 9.47 Bn |
| Dec 31, 2024 | 17.05 Bn |
| Sep 30, 2024 | 10.41 Bn |
| Jun 30, 2024 | 10.47 Bn |
| Mar 31, 2024 | 10.20 Bn |
| Dec 31, 2023 | 10.56 Bn |
| Sep 30, 2023 | 11.05 Bn |
| Jun 30, 2023 | 10.79 Bn |
| Mar 31, 2023 | 10.34 Bn |
| Dec 31, 2022 | 10.86 Bn |
| Sep 30, 2022 | 12.54 Bn |
| Jun 30, 2022 | 11.62 Bn |
| Mar 31, 2022 | 11.97 Bn |
| Dec 31, 2021 | 10.71 Bn |
| Sep 30, 2021 | 10.55 Bn |
| Jun 30, 2021 | 9.84 Bn |
| Mar 31, 2021 | 11.06 Bn |
| Dec 31, 2020 | 10.82 Bn |
| Sep 30, 2020 | 10.49 Bn |
| Jun 30, 2020 | 11.57 Bn |
| Mar 31, 2020 | 11.87 Bn |
| Dec 31, 2019 | 12.51 Bn |
| Sep 30, 2019 | 10.57 Bn |
| Jun 30, 2019 | 10.59 Bn |
| Mar 31, 2019 | 10.36 Bn |
| Dec 31, 2018 | 13.25 Bn |
| Sep 30, 2018 | 10.50 Bn |
| Jun 30, 2018 | 10.36 Bn |
| Mar 31, 2018 | 9.98 Bn |
| Dec 31, 2017 | 13.33 Bn |
| Sep 30, 2017 | 9.12 Bn |
| Jun 30, 2017 | 8.84 Bn |
| Mar 31, 2017 | 8.49 Bn |
| Dec 31, 2016 | 11.19 Bn |
| Sep 30, 2016 | 9.02 Bn |
| Jun 30, 2016 | 8.78 Bn |
| Mar 31, 2016 | 8.45 Bn |
| Dec 31, 2015 | 9.96 Bn |
| Sep 30, 2015 | 7.26 Bn |
| Jun 30, 2015 | 7.43 Bn |
| Mar 31, 2015 | 7.17 Bn |
| Dec 31, 2014 | 9.49 Bn |
| Sep 30, 2014 | 8.04 Bn |
| Jun 30, 2014 | 8.12 Bn |
| Mar 31, 2014 | 7.83 Bn |
| Dec 31, 2013 | 10.18 Bn |
| Sep 30, 2013 | 7.27 Bn |
| Jun 30, 2013 | 7.04 Bn |
| Mar 31, 2013 | 7.24 Bn |
| Dec 31, 2012 | 10.17 Bn |
| Sep 30, 2012 | 7.27 Bn |
| Jun 30, 2012 | 7.10 Bn |
| Mar 31, 2012 | 7.14 Bn |
| Dec 31, 2011 | 6.92 Bn |
| Sep 30, 2011 | 6.53 Bn |
| Jun 30, 2011 | 7,280.00 |
| Mar 31, 2011 | 7.49 Bn |
| Dec 31, 2010 | 6.62 Bn |
| Sep 30, 2010 | 6.06 Bn |
| Jun 30, 2010 | 5.67 Bn |
| Mar 31, 2010 | 5.71 Bn |
| Dec 31, 2009 | 9.01 Bn |
| Sep 30, 2009 | 5.42 Bn |
| Jun 30, 2009 | 5.25 Bn |
| Mar 31, 2009 | 5.09 Bn |