Southwest Airlines (LUV) Total Debt (2009 - 2026)
Southwest Airlines (LUV) reported Total Debt of $5.95 billion for Q2 2026, up 44.9% from $4.1 billion a year earlier and up 10.4% from the prior quarter.
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Analysis
Southwest Airlines (LUV) Total Debt (2009 - 2026) Analysis & Trends
At the end of FY2025, Southwest Airlines posted Total Debt of $4.9 billion, down 26.8% from FY2024.
- Total Debt has declined for four consecutive years, with a five-year compound annual growth rate of -13.9% (FY2020 to FY2025).
- By year, Total Debt came in at $6.7 billion in FY2024 (-16.3%), $8.01 billion in FY2023 (-1.0%), $8.09 billion in FY2022 (-24.6%) and $10.73 billion in FY2021 (+3.8%).
- The Q2 2026 figure ranks as the highest quarterly Total Debt since Q1 2025.
- Year over year, Total Debt gained in 1 of the last eight quarters, with an average decline of 16.5%.
- The high point for year-over-year Total Debt in five years was Q2 2026 (growth of 44.9%); the low point was Q3 2025 (a decline of 48.8%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $5.39 billion (Q1 2026), $4.9 billion (Q4 2025) and $4.1 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Total Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 170.50 Bn | 165.03 Bn | - | 30.33 Bn |
| 2 | Csx | 88.86 Bn | 85.07 Bn | - | 18.86 Bn |
| 3 | United Parcel Service | 82.91 Bn | 59.81 Bn | - | 24.48 Bn |
| 4 | Canadian Pacific Kansas City | 76.79 Bn | 75.81 Bn | - | 17.70 Bn |
| 5 | Norfolk Southern | 72.78 Bn | 67.42 Bn | - | 16.62 Bn |
| 6 | Fedex | 69.54 Bn | 35.48 Bn | - | 25.71 Bn |
| 7 | Delta Air Lines | 48.82 Bn | 31.01 Bn | - | 13.95 Bn |
| 8 | Old Dominion Freight Line | 38.83 Bn | 38.10 Bn | - | 20.00 Mn |
| 9 | United Airlines Holdings | 31.02 Bn | -25.36 Bn | - | 26.46 Bn |
| 10 | Southwest Airlines | 18.96 Bn | 5.59 Bn | - | 5.95 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.95 Bn |
| Mar 31, 2026 | 5.39 Bn |
| Dec 31, 2025 | 4.90 Bn |
| Sep 30, 2025 | 4.10 Bn |
| Jun 30, 2025 | 4.10 Bn |
| Mar 31, 2025 | 6.69 Bn |
| Dec 31, 2024 | 6.70 Bn |
| Sep 30, 2024 | 8.01 Bn |
| Jun 30, 2024 | 8.00 Bn |
| Mar 31, 2024 | 8.00 Bn |
| Dec 31, 2023 | 8.01 Bn |
| Sep 30, 2023 | 8.01 Bn |
| Jun 30, 2023 | 8.03 Bn |
| Mar 31, 2023 | 8.03 Bn |
| Dec 31, 2022 | 8.09 Bn |
| Sep 30, 2022 | 8.70 Bn |
| Jun 30, 2022 | 10.54 Bn |
| Mar 31, 2022 | 10.72 Bn |
| Dec 31, 2021 | 10.73 Bn |
| Sep 30, 2021 | 11.24 Bn |
API Access
Southwest Airlines Total Debt 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=total-debt&ticker=LUV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "total-debt", "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=total-debt&ticker=LUV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();