Southwest Airlines (LUV) Shares Outstanding (Entity) (2009 - 2026)
Southwest Airlines (LUV) posted Shares Outstanding (Entity) of 489.21 million for Q2 2026, down 6.9% from 525.19 million a year earlier but up 0.1% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Shares Outstanding (Entity) (2009 - 2026) Analysis & Trends
For FY2025, Southwest Airlines' Shares Outstanding (Entity) came in at 491.32 million, down 17.1% from FY2024.
- Annual Shares Outstanding (Entity) shows a five-year compound annual growth rate of -3.6% (FY2020 to FY2025).
- In prior years, Southwest Airlines' Shares Outstanding (Entity) was 592.66 million in FY2024 (-0.7%), 596.66 million in FY2023 (+0.4%), 594.29 million in FY2022 (+0.3%) and 592.34 million in FY2021 (+0.3%).
- Quarterly Shares Outstanding (Entity) has run from a low of 488.77 million in Q1 2026 to a high of 599.74 million in Q3 2024 over five years.
- On a year-over-year basis, Shares Outstanding (Entity) has declined in each of the last seven quarters, with an average decline of 8.6% over the last eight quarters.
- The strongest year-over-year quarter for Shares Outstanding (Entity) in the past five years was Q3 2024, with growth of 0.6%; the weakest was Q4 2025, with a decline of 17.1%.
- According to Business Quant data, Shares Outstanding (Entity) for the three prior quarters was 488.77 million (Q1 2026), 491.32 million (Q4 2025) and 517.16 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Entity.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 170.50 Bn | 165.03 Bn | - | 593.96 Mn |
| 2 | Csx | 88.86 Bn | 85.07 Bn | - | 1.85 Bn |
| 3 | United Parcel Service | 82.91 Bn | 59.81 Bn | - | 749.35 Mn |
| 4 | Canadian Pacific Kansas City | 76.79 Bn | 75.81 Bn | - | 879.08 Mn |
| 5 | Norfolk Southern | 72.78 Bn | 67.42 Bn | - | 224.61 Mn |
| 6 | Fedex | 69.54 Bn | 35.48 Bn | - | 236.58 Mn |
| 7 | Delta Air Lines | 48.82 Bn | 31.01 Bn | - | 657.91 Mn |
| 8 | Old Dominion Freight Line | 38.83 Bn | 38.10 Bn | - | 207.47 Mn |
| 9 | United Airlines Holdings | 31.02 Bn | -25.36 Bn | - | 324.58 Mn |
| 10 | Southwest Airlines | 18.96 Bn | 5.59 Bn | - | 489.21 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 489.21 Mn |
| Mar 31, 2026 | 488.77 Mn |
| Dec 31, 2025 | 491.32 Mn |
| Sep 30, 2025 | 517.16 Mn |
| Jun 30, 2025 | 525.19 Mn |
| Mar 31, 2025 | 569.87 Mn |
| Dec 31, 2024 | 592.66 Mn |
| Sep 30, 2024 | 599.74 Mn |
| Jun 30, 2024 | 599.16 Mn |
| Mar 31, 2024 | 598.46 Mn |
| Dec 31, 2023 | 596.66 Mn |
| Sep 30, 2023 | 596.12 Mn |
| Jun 30, 2023 | 595.63 Mn |
| Mar 31, 2023 | 595.07 Mn |
| Dec 31, 2022 | 594.29 Mn |
| Sep 30, 2022 | 593.75 Mn |
| Jun 30, 2022 | 593.35 Mn |
| Mar 31, 2022 | 592.96 Mn |
| Dec 31, 2021 | 592.34 Mn |
| Sep 30, 2021 | 591.92 Mn |
API Access
Southwest Airlines Shares Outstanding (Entity) 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=shares-outstanding-entity&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-entity", "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=shares-outstanding-entity&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();