Southwest Airlines (LUV) Tax Rate (2009 - 2026)
Southwest Airlines' (LUV) quarterly Tax Rate came in at 23.86% in Q2 2026, down 7.0% YoY from 25.65% in Q2 2025, and up 17.22% on a QoQ basis from 20.35% in Q1 2026.
Southwest Airlines (LUV) Tax Rate (2009 - 2026) Analysis & Trends
Southwest Airlines (LUV) has 18 years of Tax Rate data on file, last reported at 23.86% in Q2 2026.
- Quarterly Tax Rate fell 7.0% year-over-year to 23.86% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 21.56% (down 97.0% YoY) and the FY2025 annual result came in at 21.67%, down 57.0% from the prior year.
- Tax Rate climbed to 23.86% in Q2 2026, from 20.35% in the prior quarter.
- In the past five years, Tax Rate ranged from a high of 26.64% in Q2 2022 to a low of 11.89% in Q4 2023.
- A 5-year average of 21.99% and a median of 22.46% in 2023 frame the typical range for Tax Rate.
- Annual changes were most pronounced in 2022 — Tax Rate jumped 1112 bps — and 2023, when it slumped 1092 bps.
- Tracing LUV's Tax Rate over 5 years: stood at 22.81% in 2022, then slumped by 48 bps to 11.89% in 2023, then jumped by 74 bps to 20.67% in 2024, then climbed by 1 bps to 20.83% in 2025, then grew by 15 bps to 23.86% in 2026.
- The last three Tax Rate figures came in at 23.86% (Q2 2026), 20.35% (Q1 2026), and 20.83% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.01 Bn | 48.34 Bn | 19.07 Bn | 20.16% |
| 2 | Ryanair Holdings | 28.78 Bn | 25.56 Bn | - | -9.31% |
| 3 | Southwest Airlines | 19.50 Bn | 15.71 Bn | 7.33 Bn | 23.86% |
| 4 | Copa Holdings | 5.30 Bn | 4.04 Bn | 1.03 Bn | -11.78% |
| 5 | Alaska Air | 4.46 Bn | 1.80 Bn | 3.76 Bn | 64.49% |
| 6 | Skywest | 3.98 Bn | 3.38 Bn | 1.01 Bn | 27.48% |
| 7 | Jetblue Airways | 1.79 Bn | -232.60 Mn | 2.32 Bn | 8.86% |
| 8 | Allegiant Travel | 1.75 Bn | 695.62 Mn | 902.77 Mn | 7.66% |
| 9 | Frontier Group Holdings | 1.33 Bn | 373.12 Mn | - | 4.26% |
| 10 | Republic Airways Holdings | 843.32 Mn | 565.72 Mn | 487.40 Mn | 28.11% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 23.86% |
| Jun 30, 2026 | 23.86% |
| Jun 30, 2026 | 23.86% |
| Mar 31, 2026 | 20.35% |
| Mar 31, 2026 | 20.35% |
| Mar 31, 2026 | 20.35% |
| Dec 31, 2025 | 20.83% |
| Dec 31, 2025 | 20.83% |
| Dec 31, 2025 | 20.83% |
| Sep 30, 2025 | 20.59% |
| Sep 30, 2025 | 20.59% |
| Sep 30, 2025 | 20.59% |
| Jun 30, 2025 | 23.93% |
| Jun 30, 2025 | 23.93% |
| Jun 30, 2025 | 23.93% |
| Mar 31, 2025 | 22.40% |
| Mar 31, 2025 | 22.40% |
| Mar 31, 2025 | 22.40% |
| Dec 31, 2024 | 20.67% |
| Dec 31, 2024 | 20.67% |