Southwest Airlines (LUV) Tax Rate (2009 - 2026)
Southwest Airlines' (LUV) quarterly Tax Rate came in at 23.86% in Q2 2026, down 7.0% on a YoY basis from 25.65% in Q2 2025, and up 17.22% quarter-over-quarter from 20.35% in Q1 2026.
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Southwest Airlines (LUV) Tax Rate (2009 - 2026) Analysis & Trends
Southwest Airlines (LUV) has reported Tax Rate for 18 consecutive years, with 23.86% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Tax Rate fell 7.0% year-over-year to 23.86%; the trailing twelve-month figure through Jun 2026 stood at 21.56% (down 97.0% YoY), and the FY2025 full-year result was 21.67%, down 57.0% from the prior year.
- Tax Rate grew to 23.86% in Q2 2026 per LUV's latest filing, from 20.35% in the prior quarter.
- Across five years, Tax Rate topped out at 26.64% in Q2 2022 and bottomed at 11.89% in Q4 2023.
- Historically, Tax Rate has averaged 21.99% across 5 years, with a median of 22.46% in 2023.
- The sharpest annual moves came in 2022 and 2023: Tax Rate surged 1112 bps in 2022, then tumbled 1092 bps in 2023.
- Over 5 years, Tax Rate stood at 22.81% in 2022, then plunged by 48 bps to 11.89% in 2023, then soared by 74 bps to 20.67% in 2024, then increased by 1 bps to 20.83% in 2025, then rose by 15 bps to 23.86% in 2026.
- According to Business Quant data, Tax Rate over the past three periods registered 23.86%, 20.35%, and 20.83% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 52.71 Bn | 48.04 Bn | 19.07 Bn | 20.16% |
| 2 | Ryanair Holdings | 28.90 Bn | 24.96 Bn | - | -9.31% |
| 3 | Southwest Airlines | 19.37 Bn | 15.58 Bn | 7.33 Bn | 23.86% |
| 4 | Copa Holdings | 5.44 Bn | 4.18 Bn | 1.03 Bn | -11.78% |
| 5 | Alaska Air | 4.69 Bn | 2.03 Bn | 3.76 Bn | 64.49% |
| 6 | Skywest | 3.85 Bn | 3.25 Bn | 1.01 Bn | 27.48% |
| 7 | Grupo Aeromexico, S.A.B. de C.V | 2.30 Bn | 1.27 Bn | - | 14.71% |
| 8 | Allegiant Travel | 2.14 Bn | 1.08 Bn | 902.77 Mn | 7.66% |
| 9 | Jetblue Airways | 1.75 Bn | -274.49 Mn | 2.32 Bn | 8.86% |
| 10 | Frontier Group Holdings | 1.37 Bn | 416.98 Mn | - | 4.26% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 23.86% |
| Mar 31, 2026 | 20.35% |
| Dec 31, 2025 | 20.83% |
| Sep 30, 2025 | 20.59% |
| Jun 30, 2025 | 23.93% |
| Mar 31, 2025 | 22.40% |
| Dec 31, 2024 | 20.67% |
| Sep 30, 2024 | 24.72% |
| Jun 30, 2024 | 23.22% |
| Mar 31, 2024 | 22.48% |
| Dec 31, 2023 | 11.89% |
| Sep 30, 2023 | 18.57% |
| Jun 30, 2023 | 22.91% |
| Mar 31, 2023 | 22.44% |
| Dec 31, 2022 | 22.81% |
| Sep 30, 2022 | 21.53% |
| Jun 30, 2022 | 26.64% |
| Mar 31, 2022 | 26.06% |
| Dec 31, 2021 | 11.69% |
| Sep 30, 2021 | 25.67% |