Southwest Airlines (LUV) Non-Current Debt (2009 - 2026)
Southwest Airlines posted quarterly Non-Current Debt of $4.5 billion for Q1 2026, up 11.01% year-on-year from $4.1 billion in Q1 2025, and down 0.9% on a QoQ basis from $4.6 billion in Q4 2025.
Southwest Airlines (LUV) has 18 years of Non-Current Debt data on file, last reported at $4.5 billion in Q1 2026.
- For the quarter ending Q1 2026, Non-Current Debt rose 11.01% year-over-year to $4.5 billion; the trailing twelve-month figure through Mar 2026 stood at $4.5 billion (up 11.01% YoY), and the FY2025 full-year result was $4.6 billion, down 9.71% from the prior year.
- Non-Current Debt for Q1 2026 stood at $4.5 billion, down from $4.6 billion in the prior quarter.
- Across five years, Non-Current Debt topped out at $10.3 billion in Q1 2022 and bottomed at $4.1 billion in Q3 2025.
- The 5-year median for Non-Current Debt is $8.0 billion (2024), against an average of $6.6 billion.
- The widest annual swing landed in 2025, when Non-Current Debt sank 48.76%; it then climbed 11.01% in 2026.
- A 5-year view of Non-Current Debt shows it stood at $8.0 billion in 2022, then fell by 0.85% to $8.0 billion in 2023, then sank by 36.46% to $5.1 billion in 2024, then dropped by 9.71% to $4.6 billion in 2025, then dropped by 0.9% to $4.5 billion in 2026.
- The last three Non-Current Debt figures came in at $4.5 billion (Q1 2026), $4.6 billion (Q4 2025), and $4.1 billion (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Non-Current Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.78 Bn | 48.72 Bn | 15.19 Bn | 11.08 Bn |
| 2 | Southwest Airlines | 21.39 Bn | 18.06 Bn | 6.21 Bn | 4.54 Bn |
| 3 | Grupo Aeromexico, S.A.B. de C.V | 18.50 Bn | 17.47 Bn | -239.00 Mn | - |
| 4 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.98 Bn | 8.98 Bn | - | - |
| 5 | Alaska Air | 5.26 Bn | 3.49 Bn | 3.20 Bn | 4.82 Bn |
| 6 | Skywest | 3.43 Bn | 2.80 Bn | 924.11 Mn | 1.81 Bn |
| 7 | Copa Holdings | 3.33 Bn | 1.99 Bn | 713.71 Mn | 1.81 Bn |
| 8 | Jetblue Airways | 2.03 Bn | -140.72 Mn | 1.87 Bn | 7.70 Bn |
| 9 | Allegiant Travel | 1.67 Bn | 765.78 Mn | 651.87 Mn | 1.67 Bn |
| 10 | Frontier Group Holdings | 1.39 Bn | 618.26 Mn | 724.00 Mn | 343.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 4.54 Bn |
| Mar 31, 2026 | 4.54 Bn |
| Dec 31, 2025 | 4.58 Bn |
| Dec 31, 2025 | 4.58 Bn |
| Sep 30, 2025 | 4.08 Bn |
| Sep 30, 2025 | 4.08 Bn |
| Jun 30, 2025 | 4.08 Bn |
| Jun 30, 2025 | 4.08 Bn |
| Mar 31, 2025 | 4.09 Bn |
| Mar 31, 2025 | 4.09 Bn |
| Dec 31, 2024 | 5.07 Bn |
| Dec 31, 2024 | 5.07 Bn |
| Sep 30, 2024 | 5.08 Bn |
| Sep 30, 2024 | 5.08 Bn |
| Jun 30, 2024 | 5.07 Bn |
| Jun 30, 2024 | 5.07 Bn |
| Mar 31, 2024 | 7.97 Bn |
| Mar 31, 2024 | 7.97 Bn |
| Dec 31, 2023 | 7.98 Bn |
| Dec 31, 2023 | 7.98 Bn |
| Sep 30, 2023 | 7.98 Bn |
| Sep 30, 2023 | 7.98 Bn |
| Jun 30, 2023 | 7.99 Bn |
| Jun 30, 2023 | 7.99 Bn |
| Mar 31, 2023 | 8.00 Bn |
| Mar 31, 2023 | 8.00 Bn |
| Dec 31, 2022 | 8.05 Bn |
| Dec 31, 2022 | 8.05 Bn |
| Sep 30, 2022 | 8.32 Bn |
| Sep 30, 2022 | 8.32 Bn |
| Jun 30, 2022 | 8.88 Bn |
| Jun 30, 2022 | 8.88 Bn |
| Mar 31, 2022 | 10.31 Bn |
| Mar 31, 2022 | 10.31 Bn |
| Dec 31, 2021 | 10.27 Bn |
| Dec 31, 2021 | 10.27 Bn |
| Sep 30, 2021 | 11.01 Bn |
| Sep 30, 2021 | 11.01 Bn |
| Jun 30, 2021 | 9.19 Bn |
| Jun 30, 2021 | 9.19 Bn |
| Mar 31, 2021 | 10.55 Bn |
| Mar 31, 2021 | 10.55 Bn |
| Dec 31, 2020 | 10.11 Bn |
| Dec 31, 2020 | 10.11 Bn |
| Sep 30, 2020 | 10.14 Bn |
| Sep 30, 2020 | 10.14 Bn |
| Jun 30, 2020 | 8.91 Bn |
| Jun 30, 2020 | 8.91 Bn |
| Mar 31, 2020 | 2.29 Bn |
| Mar 31, 2020 | 2.29 Bn |
| Dec 31, 2019 | 1.85 Bn |
| Dec 31, 2019 | 1.85 Bn |
| Sep 30, 2019 | 2.40 Bn |
| Sep 30, 2019 | 2.40 Bn |
| Jun 30, 2019 | 2.45 Bn |
| Jun 30, 2019 | 2.45 Bn |
| Mar 31, 2019 | 2.60 Bn |
| Mar 31, 2019 | 2.60 Bn |
| Dec 31, 2018 | 2.77 Bn |
| Dec 31, 2018 | 2.77 Bn |
| Sep 30, 2018 | 3.10 Bn |
| Sep 30, 2018 | 3.10 Bn |
| Jun 30, 2018 | 3.16 Bn |
| Jun 30, 2018 | 3.16 Bn |
| Mar 31, 2018 | 3.23 Bn |
| Mar 31, 2018 | 3.23 Bn |
| Dec 31, 2017 | 3.32 Bn |
| Dec 31, 2017 | 3.32 Bn |
| Sep 30, 2017 | 2.76 Bn |
| Sep 30, 2017 | 2.76 Bn |
| Jun 30, 2017 | 2.79 Bn |
| Jun 30, 2017 | 2.79 Bn |
| Mar 31, 2017 | 2.78 Bn |
| Mar 31, 2017 | 2.78 Bn |
| Dec 31, 2016 | 2.82 Bn |
| Dec 31, 2016 | 2.82 Bn |
| Sep 30, 2016 | 2.32 Bn |
| Sep 30, 2016 | 2.32 Bn |
| Jun 30, 2016 | 2.39 Bn |
| Jun 30, 2016 | 2.39 Bn |
| Mar 31, 2016 | 2.36 Bn |
| Mar 31, 2016 | 2.36 Bn |
| Dec 31, 2015 | 2.54 Bn |
| Dec 31, 2015 | 2.54 Bn |
| Sep 30, 2015 | 2.38 Bn |
| Sep 30, 2015 | 2.38 Bn |
| Jun 30, 2015 | 2.41 Bn |
| Jun 30, 2015 | 2.41 Bn |
| Mar 31, 2015 | 2.42 Bn |
| Mar 31, 2015 | 2.42 Bn |
| Dec 31, 2014 | 2.43 Bn |
| Dec 31, 2014 | 2.43 Bn |
| Sep 30, 2014 | 2.13 Bn |
| Sep 30, 2014 | 2.13 Bn |
| Jun 30, 2014 | 2.15 Bn |
| Jun 30, 2014 | 2.15 Bn |
| Mar 31, 2014 | 2.17 Bn |
| Mar 31, 2014 | 2.17 Bn |
| Dec 31, 2013 | 2.19 Bn |
| Dec 31, 2013 | 2.19 Bn |
| Sep 30, 2013 | 2.62 Bn |
| Sep 30, 2013 | 2.62 Bn |
| Jun 30, 2013 | 2.67 Bn |
| Jun 30, 2013 | 2.67 Bn |
| Mar 31, 2013 | 2.71 Bn |
| Mar 31, 2013 | 2.71 Bn |
| Dec 31, 2012 | 2.88 Bn |
| Dec 31, 2012 | 2.88 Bn |
| Sep 30, 2012 | 2.96 Bn |
| Sep 30, 2012 | 2.96 Bn |
| Jun 30, 2012 | 3.02 Bn |
| Jun 30, 2012 | 3.02 Bn |
| Mar 31, 2012 | 3.05 Bn |
| Mar 31, 2012 | 3.05 Bn |
| Dec 31, 2011 | 3.11 Bn |
| Dec 31, 2011 | 3.11 Bn |
| Sep 30, 2011 | 3.22 Bn |
| Sep 30, 2011 | 3.22 Bn |
| Jun 30, 2011 | 3,242.00 |
| Jun 30, 2011 | 3,242.00 |
| Mar 31, 2011 | 2.43 Bn |
| Mar 31, 2011 | 2.43 Bn |
| Dec 31, 2010 | 2.88 Bn |
| Dec 31, 2010 | 2.88 Bn |
| Sep 30, 2010 | 3.35 Bn |
| Sep 30, 2010 | 3.35 Bn |
| Jun 30, 2010 | 3.32 Bn |
| Jun 30, 2010 | 3.32 Bn |
| Mar 31, 2010 | 3.31 Bn |
| Mar 31, 2010 | 3.31 Bn |
| Dec 31, 2009 | 3.33 Bn |
| Dec 31, 2009 | 3.33 Bn |
| Sep 30, 2009 | 3.38 Bn |
| Sep 30, 2009 | 3.38 Bn |
| Jun 30, 2009 | 3.28 Bn |
| Jun 30, 2009 | 3.28 Bn |
| Mar 31, 2009 | 3.45 Bn |
| Mar 31, 2009 | 3.45 Bn |