Southwest Airlines (LUV) Tax Rate (2009 - 2026)
Southwest Airlines' Tax Rate came in at 23.86% for Q2 2026, down 0.07 percentage points from 23.93% a year earlier but up 3.51 percentage points from the prior quarter.
Powered by 
Analysis
Southwest Airlines (LUV) Tax Rate (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Southwest Airlines reported Tax Rate of 21.56%, down 0.97 percentage points year-over-year; for FY2025, it came in at 21.67%, down 0.57 percentage points from FY2024.
- Tax Rate carries a five-year change of -6.10 percentage points (FY2020 to FY2025).
- Going back by year, Tax Rate was 22.24% in FY2024 (-4.30 pp), 26.54% in FY2023 (+0.58 pp), 25.96% in FY2022 (-0.30 pp) and 26.26% in FY2021 (-1.51 pp).
- The five-year range for quarterly Tax Rate is 11.69% (Q4 2021) to 26.64% (Q2 2022).
- Year-over-year, Tax Rate increased in four of the last eight quarters, with an average year-over-year change of +1.18 percentage points.
- The fastest year-over-year change in Tax Rate over five years came in Q4 2022 (a gain of 11.12 percentage points), and the weakest in Q4 2021 (a drop of 20.09 percentage points).
- Business Quant data shows LUV's Tax Rate at 20.35% (Q1 2026), 20.83% (Q4 2025) and 20.59% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 161.62 Bn | 156.15 Bn | - | 22.00% |
| 2 | Csx | 86.16 Bn | 82.37 Bn | - | 24.09% |
| 3 | Canadian Pacific Kansas City | 74.78 Bn | 74.50 Bn | - | 24.65% |
| 4 | United Parcel Service | 70.01 Bn | 46.94 Bn | - | 20.63% |
| 5 | Norfolk Southern | 69.45 Bn | 64.09 Bn | - | 23.46% |
| 6 | Fedex | 67.46 Bn | 33.40 Bn | - | 24.21% |
| 7 | Delta Air Lines | 54.88 Bn | 37.06 Bn | - | 20.16% |
| 8 | Old Dominion Freight Line | 36.07 Bn | 35.33 Bn | - | 25.00% |
| 9 | Ryanair Holdings | 28.71 Bn | 12.72 Bn | 3.13 Bn | - |
| 10 | Southwest Airlines | 20.39 Bn | 7.02 Bn | - | 23.86% |
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% |
| Dec 31, 2024 | 20.67% |
| Sep 30, 2024 | 24.72% |
| Jun 30, 2024 | 23.22% |
| Sep 30, 2023 | 18.57% |
| Jun 30, 2023 | 22.91% |
| Sep 30, 2022 | 21.53% |
| Jun 30, 2022 | 26.64% |
| Dec 31, 2021 | 11.69% |
| Sep 30, 2021 | 25.67% |
| Jun 30, 2021 | 30.68% |
| Mar 31, 2021 | 20.55% |
| Dec 31, 2019 | 22.97% |
| Sep 30, 2019 | 19.54% |
| Jun 30, 2019 | 23.45% |
| Mar 31, 2019 | 23.21% |
API Access
Southwest Airlines Tax Rate 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=tax-rate&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();