Southwest Airlines (LUV) Non-Current Debt (2009 - 2026)
Southwest Airlines' Non-Current Debt was $3.79 billion in Q2 2026, down 7.1% from $4.08 billion a year earlier and down 16.4% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Non-Current Debt (2009 - 2026) Analysis & Trends
At the end of FY2025, Non-Current Debt at Southwest Airlines came in at $4.58 billion, down 9.7% from FY2024.
- Non-Current Debt has now declined for four consecutive years, with a five-year compound annual growth rate of -14.7% (FY2020 to FY2025).
- In earlier years, Non-Current Debt was $5.07 billion in FY2024 (-36.5%), $7.98 billion in FY2023 (-0.8%), $8.05 billion in FY2022 (-21.7%) and $10.27 billion in FY2021 (+1.6%).
- The Q2 2026 figure marks the lowest quarterly Non-Current Debt since Q1 2020.
- Compared with a year earlier, Non-Current Debt was higher in 1 of the last eight quarters, with an average decline of 20.8%.
- The best year-over-year quarter for Non-Current Debt over five years was Q1 2026 (growth of 11.0%); the worst was Q1 2025 (a decline of 48.8%).
- Per Business Quant data, LUV's Non-Current Debt in the three quarters before Q2 2026 was $4.54 billion (Q1 2026), $4.58 billion (Q4 2025) and $4.08 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Non-Current Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 170.61 Bn | 165.14 Bn | - | 29.04 Bn |
| 2 | Csx | 89.24 Bn | 85.45 Bn | - | 17.16 Bn |
| 3 | United Parcel Service | 83.90 Bn | 60.80 Bn | - | 23.85 Bn |
| 4 | Canadian Pacific Kansas City | 77.31 Bn | 76.33 Bn | - | 15.66 Bn |
| 5 | Norfolk Southern | 73.12 Bn | 67.76 Bn | - | 15.97 Bn |
| 6 | Fedex | 70.98 Bn | 36.92 Bn | - | 23.29 Bn |
| 7 | Delta Air Lines | 50.10 Bn | 32.29 Bn | - | 9.53 Bn |
| 8 | Old Dominion Freight Line | 39.20 Bn | 38.46 Bn | - | - |
| 9 | United Airlines Holdings | 31.90 Bn | -24.47 Bn | - | 24.29 Bn |
| 10 | Southwest Airlines | 19.34 Bn | 5.97 Bn | - | 3.79 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.79 Bn |
| Mar 31, 2026 | 4.54 Bn |
| Dec 31, 2025 | 4.58 Bn |
| Sep 30, 2025 | 4.08 Bn |
| Jun 30, 2025 | 4.08 Bn |
| Mar 31, 2025 | 4.09 Bn |
| Dec 31, 2024 | 5.07 Bn |
| Sep 30, 2024 | 5.08 Bn |
| Jun 30, 2024 | 5.07 Bn |
| Mar 31, 2024 | 7.97 Bn |
| Dec 31, 2023 | 7.98 Bn |
| Sep 30, 2023 | 7.98 Bn |
| Jun 30, 2023 | 7.99 Bn |
| Mar 31, 2023 | 8.00 Bn |
| Dec 31, 2022 | 8.05 Bn |
| Sep 30, 2022 | 8.32 Bn |
| Jun 30, 2022 | 8.88 Bn |
| Mar 31, 2022 | 10.31 Bn |
| Dec 31, 2021 | 10.27 Bn |
| Sep 30, 2021 | 11.01 Bn |
API Access
Southwest Airlines Non-Current Debt 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=non-current-debt&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "non-current-debt", "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=non-current-debt&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();