Southwest Airlines (LUV) Tax Rate (2009 - 2026)
Southwest Airlines posted quarterly Tax Rate of 20.35% for Q1 2026, down 204.0% year-on-year from 19.57% in Q1 2025, and down 2.32% on a QoQ basis from 20.83% in Q4 2025.
Southwest Airlines (LUV) has 18 years of Tax Rate data on file, last reported at 20.35% in Q1 2026.
- For the quarter ending Q1 2026, Tax Rate fell 204.0% year-over-year to 20.35%; the trailing twelve-month figure through Mar 2026 stood at 21.52% (down 93.0% YoY), and the FY2025 full-year result was 21.67%, down 57.0% from the prior year.
- Tax Rate for Q1 2026 stood at 20.35%, down from 20.83% 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.
- The 5-year median for Tax Rate is 22.44% (2023), against an average of 21.88%.
- The widest annual swing landed in 2022, when Tax Rate jumped 1112 bps; it then plunged 1092 bps in 2023.
- A 5-year view of Tax Rate shows it stood at 22.81% in 2022, then sank by 48 bps to 11.89% in 2023, then surged by 74 bps to 20.67% in 2024, then grew by 1 bps to 20.83% in 2025, then decreased by 2 bps to 20.35% in 2026.
- The last three Tax Rate figures came in at 20.35% (Q1 2026), 20.83% (Q4 2025), and 20.59% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.78 Bn | 48.72 Bn | 15.19 Bn | -35.05 |
| 2 | Southwest Airlines | 21.39 Bn | 18.06 Bn | 6.21 Bn | 20.35 |
| 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 | - | -20.22 |
| 5 | Alaska Air | 5.26 Bn | 3.49 Bn | 3.20 Bn | 39.12 |
| 6 | Skywest | 3.43 Bn | 2.80 Bn | 924.11 Mn | 5.64 |
| 7 | Copa Holdings | 3.33 Bn | 1.99 Bn | 713.71 Mn | - |
| 8 | Jetblue Airways | 2.03 Bn | -140.72 Mn | 1.87 Bn | 5.06 |
| 9 | Allegiant Travel | 1.67 Bn | 765.78 Mn | 651.87 Mn | 35.66 |
| 10 | Frontier Group Holdings | 1.39 Bn | 618.26 Mn | 724.00 Mn | 3.20 |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 20.35 |
| Mar 31, 2026 | 20.35 |
| Dec 31, 2025 | 20.83 |
| Dec 31, 2025 | 20.83 |
| Sep 30, 2025 | 20.59 |
| Sep 30, 2025 | 20.59 |
| Jun 30, 2025 | 23.93 |
| Jun 30, 2025 | 23.93 |
| Mar 31, 2025 | 22.40 |
| Mar 31, 2025 | 22.40 |
| Dec 31, 2024 | 20.67 |
| Dec 31, 2024 | 20.67 |
| Sep 30, 2024 | 24.72 |
| Sep 30, 2024 | 24.72 |
| Jun 30, 2024 | 23.22 |
| Jun 30, 2024 | 23.22 |
| Mar 31, 2024 | 22.48 |
| Mar 31, 2024 | 22.48 |
| Dec 31, 2023 | 11.89 |
| Dec 31, 2023 | 11.89 |
| Sep 30, 2023 | 18.57 |
| Sep 30, 2023 | 18.57 |
| Jun 30, 2023 | 22.91 |
| Jun 30, 2023 | 22.91 |
| Mar 31, 2023 | 22.44 |
| Mar 31, 2023 | 22.44 |
| Dec 31, 2022 | 22.81 |
| Dec 31, 2022 | 22.81 |
| Sep 30, 2022 | 21.53 |
| Sep 30, 2022 | 21.53 |
| Jun 30, 2022 | 26.64 |
| Jun 30, 2022 | 26.64 |
| Mar 31, 2022 | 26.06 |
| Mar 31, 2022 | 26.06 |
| Dec 31, 2021 | 11.69 |
| Dec 31, 2021 | 11.69 |
| Sep 30, 2021 | 25.67 |
| Sep 30, 2021 | 25.67 |
| Jun 30, 2021 | 30.68 |
| Jun 30, 2021 | 30.68 |
| Mar 31, 2021 | 20.55 |
| Mar 31, 2021 | 20.55 |
| Dec 31, 2020 | 31.78 |
| Dec 31, 2020 | 31.78 |
| Sep 30, 2020 | 24.97 |
| Sep 30, 2020 | 24.97 |
| Jun 30, 2020 | 26.15 |
| Jun 30, 2020 | 26.15 |
| Mar 31, 2020 | 34.72 |
| Mar 31, 2020 | 34.72 |
| Dec 31, 2019 | 22.97 |
| Dec 31, 2019 | 22.97 |
| Sep 30, 2019 | 19.54 |
| Sep 30, 2019 | 19.54 |
| Jun 30, 2019 | 23.45 |
| Jun 30, 2019 | 23.45 |
| Mar 31, 2019 | 23.21 |
| Mar 31, 2019 | 23.21 |
| Dec 31, 2018 | 19.95 |
| Dec 31, 2018 | 19.95 |
| Sep 30, 2018 | 21.76 |
| Sep 30, 2018 | 21.76 |
| Jun 30, 2018 | 23.65 |
| Jun 30, 2018 | 23.65 |
| Mar 31, 2018 | 23.09 |
| Mar 31, 2018 | 23.09 |
| Dec 31, 2017 | -137.50 |
| Dec 31, 2017 | -137.50 |
| Sep 30, 2017 | 36.54 |
| Sep 30, 2017 | 36.54 |
| Jun 30, 2017 | 36.22 |
| Jun 30, 2017 | 36.22 |
| Mar 31, 2017 | 36.28 |
| Mar 31, 2017 | 36.28 |
| Dec 31, 2016 | 31.03 |
| Dec 31, 2016 | 31.03 |
| Sep 30, 2016 | 37.22 |
| Sep 30, 2016 | 37.22 |
| Jun 30, 2016 | 37.12 |
| Jun 30, 2016 | 37.12 |
| Mar 31, 2016 | 37.13 |
| Mar 31, 2016 | 37.13 |
| Dec 31, 2015 | 36.72 |
| Dec 31, 2015 | 36.72 |
| Sep 30, 2015 | 37.41 |
| Sep 30, 2015 | 37.41 |
| Jun 30, 2015 | 37.77 |
| Jun 30, 2015 | 37.77 |
| Mar 31, 2015 | 37.34 |
| Mar 31, 2015 | 37.34 |
| Dec 31, 2014 | 36.75 |
| Dec 31, 2014 | 36.75 |
| Sep 30, 2014 | 37.33 |
| Sep 30, 2014 | 37.33 |
| Jun 30, 2014 | 37.67 |
| Jun 30, 2014 | 37.67 |
| Mar 31, 2014 | 37.70 |
| Mar 31, 2014 | 37.70 |
| Dec 31, 2013 | 36.23 |
| Dec 31, 2013 | 36.23 |
| Sep 30, 2013 | 38.19 |
| Sep 30, 2013 | 38.19 |
| Jun 30, 2013 | 38.29 |
| Jun 30, 2013 | 38.29 |
| Mar 31, 2013 | 37.23 |
| Mar 31, 2013 | 37.23 |
| Dec 31, 2012 | 37.60 |
| Dec 31, 2012 | 37.60 |
| Sep 30, 2012 | 51.52 |
| Sep 30, 2012 | 51.52 |
| Jun 30, 2012 | 38.04 |
| Jun 30, 2012 | 38.04 |
| Mar 31, 2012 | 38.36 |
| Mar 31, 2012 | 38.36 |
| Dec 31, 2011 | 40.39 |
| Dec 31, 2011 | 40.39 |
| Sep 30, 2011 | 38.05 |
| Sep 30, 2011 | 38.05 |
| Jun 30, 2011 | 41.45 |
| Jun 30, 2011 | 41.45 |
| Mar 31, 2011 | 72.22 |
| Mar 31, 2011 | 72.22 |
| Dec 31, 2010 | 38.50 |
| Dec 31, 2010 | 38.50 |
| Sep 30, 2010 | 38.25 |
| Sep 30, 2010 | 38.25 |
| Jun 30, 2010 | 0.00 |
| Jun 30, 2010 | 0.00 |
| Mar 31, 2010 | 35.29 |
| Mar 31, 2010 | 35.29 |
| Dec 31, 2009 | 37.30 |
| Dec 31, 2009 | 37.30 |
| Sep 30, 2009 | 20.00 |
| Sep 30, 2009 | 20.00 |
| Jun 30, 2009 | 14.95 |
| Jun 30, 2009 | 14.95 |
| Mar 31, 2009 | 14.95 |
| Mar 31, 2009 | 14.95 |