Southwest Airlines (LUV) Return on Capital Employed (2009 - 2026)
Southwest Airlines' (LUV) quarterly Return on Capital Employed came in at 6.32% in Q2 2026, up 474.0% YoY from 1.1% in Q2 2025, and up 7.75% on a QoQ basis from 5.87% in Q1 2026.
Southwest Airlines (LUV) Return on Capital Employed (2009 - 2026) Analysis & Trends
Southwest Airlines (LUV) has 18 years of Return on Capital Employed data on file, last reported at 6.32% in Q2 2026.
- Quarterly Return on Capital Employed rose 474.0% year-over-year to 6.32% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 6.32% (up 474.0% YoY) and the FY2025 annual result came in at 2.09%, up 68.0% from the prior year.
- Return on Capital Employed rose to 6.32% in Q2 2026, from 5.87% in the prior quarter.
- In the past five years, Return on Capital Employed ranged from a high of 7.42% in Q2 2022 to a low of 1.66% in Q3 2024.
- A 5-year average of 2.76% and a median of 2.28% in 2023 frame the typical range for Return on Capital Employed.
- Annual changes were most pronounced in 2022 — Return on Capital Employed soared 1819 bps — and 2023, when it slumped 528 bps.
- Tracing LUV's Return on Capital Employed over 5 years: 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 jumped by 162 bps to 6.32% in 2026.
- The last three Return on Capital Employed figures came in at 6.32% (Q2 2026), 5.87% (Q1 2026), and 2.41% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.01 Bn | 48.34 Bn | 19.07 Bn | 10.65% |
| 2 | Ryanair Holdings | 28.78 Bn | 25.56 Bn | - | 18.29% |
| 3 | Southwest Airlines | 19.50 Bn | 15.71 Bn | 7.33 Bn | 6.32% |
| 4 | Copa Holdings | 5.30 Bn | 4.04 Bn | 1.03 Bn | - |
| 5 | Alaska Air | 4.46 Bn | 1.80 Bn | 3.76 Bn | -1.65% |
| 6 | Skywest | 3.98 Bn | 3.38 Bn | 1.01 Bn | 10.54% |
| 7 | Jetblue Airways | 1.79 Bn | -232.60 Mn | 2.32 Bn | -4.73% |
| 8 | Allegiant Travel | 1.75 Bn | 695.62 Mn | 902.77 Mn | 3.74% |
| 9 | Frontier Group Holdings | 1.33 Bn | 373.12 Mn | - | -8.34% |
| 10 | Republic Airways Holdings | 843.32 Mn | 565.72 Mn | 487.40 Mn | 12.36% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 6.32% |
| 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% |