Southwest Airlines (LUV) Tax Rate (2009 - 2026)
Southwest Airlines' Tax Rate came in at 23.94% for Q3 2026, up 3.36 percentage points from 20.59% a year earlier and up 0.09 percentage points from the prior quarter.
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Analysis
Southwest Airlines (LUV) Tax Rate (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Southwest Airlines reported Tax Rate of 22.23%, up 0.37 percentage points year-over-year; for FY2025, it came in at 21.67%, down 0.57 percentage points from FY2024.
- Tax Rate carries a four-year change of -4.59 percentage points (FY2021 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.
- The Q3 2026 figure represents the highest quarterly Tax Rate since Q3 2024.
- Year-over-year, Tax Rate increased in three of the last five quarters, with an average year-over-year change of 0.00 percentage points.
- The fastest year-over-year change in Tax Rate over five years came in Q3 2024 (a gain of 6.15 percentage points), and the weakest in Q3 2022 (a drop of 4.14 percentage points).
- Business Quant data shows LUV's Tax Rate at 23.86% (Q2 2026), 20.35% (Q1 2026) and 20.83% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 172.47 Bn | 164.72 Bn | - | 23.84% |
| 2 | United Parcel Service | 92.24 Bn | 69.07 Bn | - | 25.97% |
| 3 | Csx | 90.81 Bn | 86.03 Bn | - | 23.99% |
| 4 | Canadian Pacific Kansas City | 81.61 Bn | 80.64 Bn | - | 32.84% |
| 5 | Fedex | 72.98 Bn | 39.17 Bn | - | 24.21% |
| 6 | Norfolk Southern | 71.87 Bn | 66.34 Bn | - | 23.10% |
| 7 | Delta Air Lines | 57.23 Bn | 39.41 Bn | - | 29.61% |
| 8 | United Airlines Holdings | 36.65 Bn | -21.05 Bn | - | 21.51% |
| 9 | Old Dominion Freight Line | 34.12 Bn | 32.96 Bn | - | 24.45% |
| 10 | Southwest Airlines | 21.75 Bn | 7.77 Bn | - | 23.94% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 23.94% |
| 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% |
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();