Southwest Airlines (LUV) Return on Equity [ROE] (2009 - 2026)
Southwest Airlines (LUV) posted Return on Equity [ROE] of 11.99% for Q2 2026, up 7.48 percentage points from 4.51% a year earlier and up 1.00 percentage points from the prior quarter.
Powered by 
Analysis
Southwest Airlines (LUV) Return on Equity [ROE] (2009 - 2026) Analysis & Trends
For FY2025, Southwest Airlines' Return on Equity [ROE] came in at 4.81%, up 0.35 percentage points from FY2024.
- Annual Return on Equity [ROE] shows a five-year change of +37.67 percentage points (FY2020 to FY2025).
- In prior years, Southwest Airlines' Return on Equity [ROE] was 4.46% in FY2024 (+0.07 pp), 4.39% in FY2023 (-0.72 pp), 5.11% in FY2022 (-5.02 pp) and 10.13% in FY2021 (+42.99 pp).
- The Q2 2026 figure stands as the highest quarterly Return on Equity [ROE] since Q1 2020.
- On a year-over-year basis, Return on Equity [ROE] has increased in each of the last seven quarters, with an average year-over-year change of +2.50 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Return on Equity [ROE] in the past five years was Q4 2021, with a gain of 42.44 percentage points; the weakest was Q3 2024, with a drop of 5.02 percentage points.
- According to Business Quant data, Return on Equity [ROE] for the three prior quarters was 11.00% (Q1 2026), 5.60% (Q4 2025) and 4.80% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROE (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 165.28 Bn | 159.81 Bn | - | 36.57% |
| 2 | Csx | 87.86 Bn | 84.08 Bn | - | 23.52% |
| 3 | Canadian Pacific Kansas City | 75.56 Bn | 75.27 Bn | - | 8.10% |
| 4 | Norfolk Southern | 71.27 Bn | 65.91 Bn | - | 16.45% |
| 5 | United Parcel Service | 69.70 Bn | 46.62 Bn | - | 29.59% |
| 6 | Fedex | 68.71 Bn | 34.65 Bn | - | 14.43% |
| 7 | Delta Air Lines | 55.32 Bn | 37.50 Bn | - | 18.73% |
| 8 | Old Dominion Freight Line | 37.44 Bn | 36.71 Bn | - | 24.35% |
| 9 | United Airlines Holdings | 36.52 Bn | -19.85 Bn | - | 21.47% |
| 10 | Southwest Airlines | 20.78 Bn | 7.41 Bn | - | 11.99% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.99% |
| Mar 31, 2026 | 11.00% |
| Dec 31, 2025 | 5.60% |
| Sep 30, 2025 | 4.80% |
| Jun 30, 2025 | 4.51% |
| Mar 31, 2025 | 5.54% |
| Dec 31, 2024 | 4.47% |
| Sep 30, 2024 | -0.47% |
| Jun 30, 2024 | 0.75% |
| Mar 31, 2024 | 3.80% |
| Dec 31, 2023 | 4.31% |
| Sep 30, 2023 | 4.55% |
| Jun 30, 2023 | 5.51% |
| Mar 31, 2023 | 6.27% |
| Dec 31, 2022 | 4.99% |
| Sep 30, 2022 | 7.50% |
| Jun 30, 2022 | 9.25% |
| Mar 31, 2022 | 5.61% |
| Dec 31, 2021 | 9.47% |
| Sep 30, 2021 | 0.02% |
API Access
Southwest Airlines Return on Equity [ROE] 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-equity-%5Broe%5D&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-equity-[roe]", "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-equity-%5Broe%5D&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();