Southwest Airlines (LUV) Tax Rate (2009 - 2026)

Southwest Airlines has reported Tax Rate for 18 years, with the latest figure 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.
• The five-year high for Tax Rate was 26.64% in Q2 2022, with the low at 11.89% in Q4 2023.
• Historically, Tax Rate has averaged 21.88% across 5 years, with a median of 22.44% in 2023.
• Annual changes were most pronounced in 2022 — Tax Rate jumped 1112 bps — and 2023, when it slumped 1092 bps.
• Southwest Airlines' Tax Rate 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 retreated 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.