Southwest Airlines (LUV) Invested Capital (2009 - 2026)

Southwest Airlines has reported Invested Capital for 18 years, with the latest figure 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.
• The five-year high for Invested Capital was $17.0 billion in Q4 2024, with the low at $7.4 billion in Q1 2026.
• Historically, Invested Capital has averaged $10.8 billion across 5 years, with a median of $10.6 billion in 2023.
• Annual changes were most pronounced in 2024 — Invested Capital jumped 61.49% — and 2025, when it retreated 24.27%.
• Southwest Airlines' Invested Capital stood at $10.9 billion in 2022, then slipped by 2.81% to $10.6 billion in 2023, then jumped by 61.49% to $17.0 billion in 2024, then dropped by 24.27% to $12.9 billion in 2025, then sank 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.