Southwest Airlines (LUV) Return on Capital Employed (2009 - 2026)
Southwest Airlines (LUV) posted quarterly Return on Capital Employed of 6.32% for Q2 2026, up 474.0% year-on-year 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 reported Return on Capital Employed for 18 consecutive years, with 6.32% the latest figure, recorded 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 climbed to 6.32% in Q2 2026 per LUV's latest filing, from 5.87% in the prior quarter.
- Over the last five years, Return on Capital Employed for LUV reached as high as 7.42% in Q2 2022 and fell as low as 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 jumped 1819 bps — and 2023, when it sank 528 bps.
- Year by year, Return on Capital Employed stood at 4.02% in 2022, then slumped 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.
- According to Business Quant data, Return on Capital Employed over the past three periods registered 6.32%, 5.87%, and 2.41% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Latam Airlines | 30,820.50 Bn | 30,817.83 Bn | 1.28 Mn | 6,481.60% |
| 2 | Ryanair Holdings | 60.62 Bn | 57.43 Bn | - | 18.34% |
| 3 | Delta Air Lines | 56.47 Bn | 51.80 Bn | 19.07 Bn | 10.65% |
| 4 | Southwest Airlines | 22.19 Bn | 18.40 Bn | 7.33 Bn | 6.32% |
| 5 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.95 Bn | 8.12 Bn | - | -6.79% |
| 6 | Copa Holdings | 5.72 Bn | 4.39 Bn | 713.71 Mn | 16.15% |
| 7 | Alaska Air | 5.41 Bn | 3.64 Bn | 3.20 Bn | 1.66% |
| 8 | Skywest | 4.36 Bn | 3.75 Bn | 1.01 Bn | 10.54% |
| 9 | Jetblue Airways | 2.00 Bn | 1.59 Bn | 1.87 Bn | -3.55% |
| 10 | Allegiant Travel | 1.82 Bn | 915.81 Mn | 651.87 Mn | 1.70% |
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% |