Southwest Airlines (LUV) Shares Outstanding (Diluted Average) (2009 - 2026)
Southwest Airlines posted quarterly Shares Outstanding (Diluted Average) of $503.0 million for Q1 2026, down 13.87% year-on-year from $584.0 million in Q1 2025, and down 4.37% on a QoQ basis from $526.0 million in Q3 2025.
Southwest Airlines (LUV) has 18 years of Shares Outstanding (Diluted Average) data on file, last reported at $503.0 million in Q1 2026.
- For the quarter ending Q1 2026, Shares Outstanding (Diluted Average) fell 13.87% year-over-year to $503.0 million; the trailing twelve-month figure through Mar 2026 stood at $503.0 million (down 13.87% YoY), and the FY2009 full-year result was $741.0, changed N/A from the prior year.
- Shares Outstanding (Diluted Average) for Q1 2026 stood at $503.0 million, down from $526.0 million in the prior quarter.
- Across five years, Shares Outstanding (Diluted Average) topped out at $643.0 million in Q2 2024 and bottomed at $503.0 million in Q1 2026.
- The 5-year median for Shares Outstanding (Diluted Average) is $597.0 million (2024), against an average of $598.2 million.
- The widest annual swing landed in 2022, when Shares Outstanding (Diluted Average) climbed 4.75%; it then fell 18.2% in 2025.
- A 5-year view of Shares Outstanding (Diluted Average) shows it stood at $639.0 million in 2022, then advanced by 0.16% to $640.0 million in 2023, then rose by 0.47% to $643.0 million in 2024, then decreased by 18.2% to $526.0 million in 2025, then fell by 4.37% to $503.0 million in 2026.
- The last three Shares Outstanding (Diluted Average) figures came in at $503.0 million (Q1 2026), $526.0 million (Q3 2025), and $541.0 million (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares (Diluted Avg.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.78 Bn | 48.72 Bn | 15.19 Bn | - |
| 2 | Southwest Airlines | 21.39 Bn | 18.06 Bn | 6.21 Bn | 503.00 Mn |
| 3 | Grupo Aeromexico, S.A.B. de C.V | 18.50 Bn | 17.47 Bn | -239.00 Mn | - |
| 4 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.98 Bn | 8.98 Bn | - | 1.15 Bn |
| 5 | Alaska Air | 5.26 Bn | 3.49 Bn | 3.20 Bn | 114.29 Mn |
| 6 | Skywest | 3.43 Bn | 2.80 Bn | 924.11 Mn | - |
| 7 | Copa Holdings | 3.33 Bn | 1.99 Bn | 713.71 Mn | - |
| 8 | Jetblue Airways | 2.03 Bn | -140.72 Mn | 1.87 Bn | - |
| 9 | Allegiant Travel | 1.67 Bn | 765.78 Mn | 651.87 Mn | 18.22 Mn |
| 10 | Frontier Group Holdings | 1.39 Bn | 618.26 Mn | 724.00 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 503.00 Mn |
| Sep 30, 2025 | 526.00 Mn |
| Jun 30, 2025 | 541.00 Mn |
| Mar 31, 2025 | 584.00 Mn |
| Sep 30, 2024 | 643.00 Mn |
| Jun 30, 2024 | 643.00 Mn |
| Mar 31, 2024 | 597.00 Mn |
| Sep 30, 2023 | 640.00 Mn |
| Jun 30, 2023 | 639.00 Mn |
| Mar 31, 2023 | 594.00 Mn |
| Sep 30, 2022 | 639.00 Mn |
| Jun 30, 2022 | 635.00 Mn |
| Mar 31, 2022 | 592.00 Mn |
| Sep 30, 2021 | 610.00 Mn |
| Jun 30, 2021 | 615.00 Mn |
| Mar 31, 2021 | 609.00 Mn |
| Sep 30, 2020 | 556.00 Mn |
| Jun 30, 2020 | 563.00 Mn |
| Mar 31, 2020 | 515.00 Mn |
| Sep 30, 2019 | 534.00 Mn |
| Jun 30, 2019 | 547.00 Mn |
| Mar 31, 2019 | 552.00 Mn |
| Sep 30, 2018 | 579.00 Mn |
| Jun 30, 2018 | 579.00 Mn |
| Mar 31, 2018 | 588.00 Mn |
| Sep 30, 2017 | 606.00 Mn |
| Jun 30, 2017 | 610.00 Mn |
| Mar 31, 2017 | 614.00 Mn |
| Sep 30, 2016 | 625.00 Mn |
| Jun 30, 2016 | 639.00 Mn |
| Mar 31, 2016 | 648.00 Mn |
| Sep 30, 2015 | 673.00 Mn |
| Jun 30, 2015 | 673.00 Mn |
| Mar 31, 2015 | 682.00 Mn |
| Sep 30, 2014 | 699.00 Mn |
| Jun 30, 2014 | 703.00 Mn |
| Mar 31, 2014 | 707.00 Mn |
| Sep 30, 2013 | 722.00 Mn |
| Jun 30, 2013 | 722.00 Mn |
| Mar 31, 2013 | 727.00 Mn |
| Sep 30, 2012 | 762.00 Mn |
| Jun 30, 2012 | 771.00 Mn |
| Mar 31, 2012 | 772.00 Mn |
| Sep 30, 2011 | 774.00 Mn |
| Jun 30, 2011 | 765.00 |
| Sep 30, 2010 | 747.00 Mn |
| Jun 30, 2010 | 745.00 |
| Mar 31, 2010 | 744.00 Mn |
| Dec 31, 2009 | 741.00 |
| Sep 30, 2009 | 742.00 Mn |
| Jun 30, 2009 | 741.00 Mn |
| Mar 31, 2009 | 740.00 Mn |