Southwest Airlines (LUV) Return on Assets [ROA] (2009 - 2026)
Southwest Airlines (LUV) reported Return on Assets [ROA] of 3.47% for Q3 2026, up 2.14 percentage points from 1.33% a year earlier and up 0.66 percentage points from the prior quarter.
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Analysis
Southwest Airlines (LUV) Return on Assets [ROA] (2009 - 2026) Analysis & Trends
For FY2025, Southwest Airlines posted Return on Assets [ROA] of 1.40%, up 0.08 percentage points from FY2024.
- Return on Assets [ROA] has a five-year change of +11.57 percentage points (FY2020 to FY2025).
- By year, Return on Assets [ROA] came in at 1.32% in FY2024 (+0.03 pp), 1.29% in FY2023 (-0.21 pp), 1.50% in FY2022 (-1.25 pp) and 2.76% in FY2021 (+12.92 pp).
- The Q3 2026 figure ranks as the highest quarterly Return on Assets [ROA] since Q1 2020.
- Year over year, Return on Assets [ROA] has now increased in each of the last eight quarters, with an average year-over-year change of +1.02 percentage points over the last eight quarters.
- The high point for year-over-year Return on Assets [ROA] in five years was Q4 2021 (a gain of 11.42 percentage points); the low point was Q3 2024 (a drop of 1.49 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 2.81% (Q2 2026), 2.80% (Q1 2026) and 1.54% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROA (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 174.84 Bn | 167.09 Bn | - | 10.59% |
| 2 | United Parcel Service | 93.52 Bn | 70.34 Bn | - | 6.14% |
| 3 | Csx | 92.38 Bn | 87.60 Bn | - | 8.03% |
| 4 | Canadian Pacific Kansas City | 82.71 Bn | 81.74 Bn | - | 4.42% |
| 5 | Fedex | 75.11 Bn | 41.30 Bn | - | 4.58% |
| 6 | Norfolk Southern | 72.91 Bn | 67.37 Bn | - | 5.89% |
| 7 | Delta Air Lines | 59.55 Bn | 41.74 Bn | - | 3.82% |
| 8 | United Airlines Holdings | 38.79 Bn | -18.91 Bn | - | 4.21% |
| 9 | Old Dominion Freight Line | 34.85 Bn | 33.69 Bn | - | 19.98% |
| 10 | Southwest Airlines | 22.69 Bn | 8.72 Bn | - | 3.47% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 3.47% |
| Jun 30, 2026 | 2.81% |
| Mar 31, 2026 | 2.80% |
| Dec 31, 2025 | 1.54% |
| Sep 30, 2025 | 1.33% |
| Jun 30, 2025 | 1.27% |
| Mar 31, 2025 | 1.63% |
| Dec 31, 2024 | 1.35% |
| Sep 30, 2024 | -0.14% |
| Jun 30, 2024 | 0.22% |
| Mar 31, 2024 | 1.08% |
| Dec 31, 2023 | 1.27% |
| Sep 30, 2023 | 1.35% |
| Jun 30, 2023 | 1.61% |
| Mar 31, 2023 | 1.86% |
| Dec 31, 2022 | 1.51% |
| Sep 30, 2022 | 2.23% |
| Jun 30, 2022 | 2.64% |
| Mar 31, 2022 | 1.59% |
| Dec 31, 2021 | 2.66% |
API Access
Southwest Airlines Return on Assets [ROA] 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=return-on-assets-%5Broa%5D&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-assets-[roa]", "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=return-on-assets-%5Broa%5D&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();