Southwest Airlines (LUV) Return on Capital Employed (2009 - 2026)
Southwest Airlines posted quarterly Return on Capital Employed of 5.87% for Q1 2026, up 336.0% year-on-year from 1.35% in Q1 2025, and up 143.48% on a QoQ basis from 2.41% in Q4 2025.
Southwest Airlines (LUV) has 18 years of Return on Capital Employed data on file, last reported 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.
- Across five years, Return on Capital Employed topped out at 7.42% in Q2 2022 and bottomed at 1.66% in Q3 2024.
- The 5-year median for Return on Capital Employed is 2.14% (2023), against an average of 2.55%.
- The widest annual swing landed in 2022, when Return on Capital Employed soared 1819 bps; it then plunged 528 bps in 2023.
- A 5-year view of Return on Capital Employed shows it stood at 4.02% in 2022, then plunged by 77 bps to 0.92% in 2023, then soared by 59 bps to 1.46% in 2024, then surged by 65 bps to 2.41% in 2025, then soared 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.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.78 Bn | 48.72 Bn | 15.19 Bn | 11.47% |
| 2 | Southwest Airlines | 21.39 Bn | 18.06 Bn | 6.21 Bn | 5.87% |
| 3 | Grupo Aeromexico, S.A.B. de C.V | 18.50 Bn | 17.47 Bn | -239.00 Mn | 7,568,381.22% |
| 4 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.98 Bn | 8.98 Bn | - | 3.51% |
| 5 | Alaska Air | 5.26 Bn | 3.49 Bn | 3.20 Bn | 1.66% |
| 6 | Skywest | 3.43 Bn | 2.80 Bn | 924.11 Mn | 10.50% |
| 7 | Copa Holdings | 3.33 Bn | 1.99 Bn | 713.71 Mn | 16.15% |
| 8 | Jetblue Airways | 2.03 Bn | -140.72 Mn | 1.87 Bn | -3.55% |
| 9 | Allegiant Travel | 1.67 Bn | 765.78 Mn | 651.87 Mn | 1.70% |
| 10 | Frontier Group Holdings | 1.39 Bn | 618.26 Mn | 724.00 Mn | -7.91% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 5.87% |
| Dec 31, 2025 | 2.41% |
| Sep 30, 2025 | 1.80% |
| Jun 30, 2025 | 1.58% |
| Mar 31, 2025 | 2.51% |
| Dec 31, 2024 | 1.46% |
| Sep 30, 2024 | -1.66% |
| Jun 30, 2024 | -1.30% |
| Mar 31, 2024 | 0.48% |
| Dec 31, 2023 | 0.92% |
| Sep 30, 2023 | 0.99% |
| Jun 30, 2023 | 2.14% |
| Mar 31, 2023 | 3.66% |
| Dec 31, 2022 | 4.02% |
| Sep 30, 2022 | 5.98% |
| Jun 30, 2022 | 7.42% |
| Mar 31, 2022 | 5.13% |
| Dec 31, 2021 | 6.25% |
| Sep 30, 2021 | 1.25% |
| Jun 30, 2021 | -7.33% |
| Mar 31, 2021 | -13.06% |
| Dec 31, 2020 | -13.83% |
| Sep 30, 2020 | -7.13% |
| Jun 30, 2020 | 1.13% |
| Mar 31, 2020 | 14.50% |
| Dec 31, 2019 | 17.16% |
| Sep 30, 2019 | 17.49% |
| Jun 30, 2019 | 17.36% |
| Mar 31, 2019 | 17.56% |
| Dec 31, 2018 | 17.18% |
| Sep 30, 2018 | 16.61% |
| Jun 30, 2018 | 17.37% |
| Mar 31, 2018 | 18.83% |
| Dec 31, 2017 | 19.12% |
| Sep 30, 2017 | 20.51% |
| Jun 30, 2017 | 20.08% |
| Mar 31, 2017 | 21.31% |
| Dec 31, 2016 | 23.04% |
| Sep 30, 2016 | 26.40% |
| Jun 30, 2016 | 30.81% |
| Mar 31, 2016 | 31.65% |
| Dec 31, 2015 | 29.76% |
| Sep 30, 2015 | 26.44% |
| Jun 30, 2015 | 21.77% |
| Mar 31, 2015 | 20.61% |
| Dec 31, 2014 | 15.66% |
| Sep 30, 2014 | 13.95% |
| Jun 30, 2014 | 13.17% |
| Mar 31, 2014 | 10.77% |
| Dec 31, 2013 | 9.35% |
| Sep 30, 2013 | 7.12% |
| Jun 30, 2013 | 4.77% |
| Mar 31, 2013 | 4.98% |
| Dec 31, 2012 | 4.44% |
| Sep 30, 2012 | 4.97% |
| Jun 30, 2012 | 6.28% |
| Mar 31, 2012 | 4.49% |
| Dec 31, 2011 | 5.15% |
| Sep 30, 2011 | 21.04% |
| Jun 30, 2011 | 10.87% |
| Mar 31, 2011 | 9.05% |
| Dec 31, 2010 | 8.23% |
| Sep 30, 2010 | 7.91% |
| Jun 30, 2010 | 5.31% |
| Mar 31, 2010 | 3.19% |
| Dec 31, 2009 | 2.28% |
| Sep 30, 2009 | 1.49% |
| Jun 30, 2009 | 2.07% |
| Mar 31, 2009 | 2.82% |