Southwest Airlines (LUV) Price to Book (2009 - 2026)
Southwest Airlines' Price to Book came in at 3.55 for Q2 2026, up 66.8% from 2.13 a year earlier and up 33.0% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Price to Book (2009 - 2026) Analysis & Trends
For FY2025, Southwest Airlines' Price to Book was 2.54, up 32.2% from FY2024.
- Going back by year, Price to Book was 1.93 in FY2024 (+17.5%), 1.64 in FY2023 (-12.5%), 1.87 in FY2022 (-23.2%) and 2.44 in FY2021 (-21.4%).
- The Q2 2026 figure represents the highest quarterly Price to Book since Q1 2021.
- Year-over-year, Price to Book has increased for eight consecutive quarters, with growth averaging 29.7% over the last eight quarters.
- The fastest year-over-year change in Price to Book over five years came in Q2 2026 (growth of 66.8%), and the weakest in Q3 2022 (a decline of 43.6%).
- Business Quant data shows LUV's Price to Book at 2.67 (Q1 2026), 2.54 (Q4 2025) and 2.12 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Union Pacific | 170.63 Bn | 165.15 Bn | - |
| 2 | Csx | 89.38 Bn | 85.59 Bn | - |
| 3 | United Parcel Service | 84.38 Bn | 61.27 Bn | - |
| 4 | Canadian Pacific Kansas City | 77.66 Bn | 76.68 Bn | - |
| 5 | Norfolk Southern | 73.11 Bn | 67.75 Bn | - |
| 6 | Fedex | 71.32 Bn | 37.27 Bn | - |
| 7 | Delta Air Lines | 50.29 Bn | 32.48 Bn | - |
| 8 | Old Dominion Freight Line | 39.34 Bn | 38.60 Bn | - |
| 9 | United Airlines Holdings | 32.00 Bn | -24.38 Bn | - |
| 10 | Southwest Airlines | 19.51 Bn | 6.14 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.55 |
| Mar 31, 2026 | 2.67 |
| Dec 31, 2025 | 2.54 |
| Sep 30, 2025 | 2.12 |
| Jun 30, 2025 | 2.13 |
| Mar 31, 2025 | 2.04 |
| Dec 31, 2024 | 1.93 |
| Sep 30, 2024 | 1.71 |
| Jun 30, 2024 | 1.64 |
| Mar 31, 2024 | 1.71 |
| Dec 31, 2023 | 1.64 |
| Sep 30, 2023 | 1.46 |
| Jun 30, 2023 | 2.00 |
| Mar 31, 2023 | 1.88 |
| Dec 31, 2022 | 1.87 |
| Sep 30, 2022 | 1.68 |
| Jun 30, 2022 | 1.93 |
| Mar 31, 2022 | 2.61 |
| Dec 31, 2021 | 2.44 |
| Sep 30, 2021 | 2.97 |
API Access
Southwest Airlines Price to Book 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=price-to-book&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "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=price-to-book&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();