Southwest Airlines (LUV) Return on Equity [ROE] (2009 - 2026)
Southwest Airlines (LUV) posted Return on Equity [ROE] of 14.61% for Q3 2026, up 9.81 percentage points from 4.80% a year earlier and up 2.62 percentage points from the prior quarter.
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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 Q3 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 eight quarters, with an average year-over-year change of +4.35 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 11.99% (Q2 2026), 11.00% (Q1 2026) and 5.60% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROE (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 172.47 Bn | 164.72 Bn | - | 35.69% |
| 2 | United Parcel Service | 92.24 Bn | 69.07 Bn | - | 29.36% |
| 3 | Csx | 90.81 Bn | 86.03 Bn | - | 25.37% |
| 4 | Canadian Pacific Kansas City | 81.61 Bn | 80.64 Bn | - | 8.38% |
| 5 | Fedex | 72.98 Bn | 39.17 Bn | - | 14.43% |
| 6 | Norfolk Southern | 71.87 Bn | 66.34 Bn | - | 16.28% |
| 7 | Delta Air Lines | 57.23 Bn | 39.41 Bn | - | 14.84% |
| 8 | United Airlines Holdings | 36.65 Bn | -21.05 Bn | - | 20.76% |
| 9 | Old Dominion Freight Line | 34.12 Bn | 32.96 Bn | - | 25.21% |
| 10 | Southwest Airlines | 21.75 Bn | 7.77 Bn | - | 14.61% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 14.61% |
| 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% |
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();