Southwest Airlines (LUV) Return on Capital Employed (2009 - 2026)

Southwest Airlines has reported Return on Capital Employed for 18 years, with the latest figure at 5.87% in Q1 2026.

• For the quarter ending Q1 2026, Return on Capital Employed rose 336.0% year-over-year to 5.87%; the trailing twelve-month figure through Mar 2026 stood at 5.87% (up 336.0% YoY), and the FY2025 full-year result was 2.09%, up 68.0% from the prior year.
• Return on Capital Employed for Q1 2026 stood at 5.87%, up from 2.41% in the prior quarter.
• The five-year high for Return on Capital Employed was 7.42% in Q2 2022, with the low at 1.66% in Q3 2024.
• Historically, Return on Capital Employed has averaged 2.55% across 5 years, with a median of 2.14% in 2023.
• Annual changes were most pronounced in 2022 — Return on Capital Employed soared 1819 bps — and 2023, when it slumped 528 bps.
• Southwest Airlines' Return on Capital Employed stood at 4.02% in 2022, then sank by 77 bps to 0.92% in 2023, then surged by 59 bps to 1.46% in 2024, then jumped by 65 bps to 2.41% in 2025, then surged by 143 bps to 5.87% in 2026.
• The last three Return on Capital Employed figures came in at 5.87% (Q1 2026), 2.41% (Q4 2025), and 1.8% (Q3 2025), per Business Quant data.