Southwest Airlines (LUV) Total Debt (2009 - 2026)
Southwest Airlines posted quarterly Total Debt of $5.4 billion for Q1 2026, down 19.52% year-on-year from $6.7 billion in Q1 2025, and up 9.92% on a QoQ basis from $4.9 billion in Q4 2025.
Southwest Airlines (LUV) has 18 years of Total Debt data on file, last reported at $5.4 billion in Q1 2026.
- For the quarter ending Q1 2026, Total Debt fell 19.52% year-over-year to $5.4 billion; the trailing twelve-month figure through Mar 2026 stood at $5.4 billion (down 19.52% YoY), and the FY2025 full-year result was $4.9 billion, down 26.84% from the prior year.
- Total Debt for Q1 2026 stood at $5.4 billion, up from $4.9 billion in the prior quarter.
- Across five years, Total Debt topped out at $10.7 billion in Q1 2022 and bottomed at $4.1 billion in Q3 2025.
- The 5-year median for Total Debt is $8.0 billion (2024), against an average of $7.4 billion.
- The widest annual swing landed in 2024, when Total Debt dropped 0.11%; it then slumped 48.76% in 2025.
- A 5-year view of Total Debt shows it stood at $8.1 billion in 2022, then declined by 1.0% to $8.0 billion in 2023, then decreased by 16.34% to $6.7 billion in 2024, then slipped by 26.84% to $4.9 billion in 2025, then increased by 9.92% to $5.4 billion in 2026.
- The last three Total Debt figures came in at $5.4 billion (Q1 2026), $4.9 billion (Q4 2025), and $4.1 billion (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Total Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.78 Bn | 48.72 Bn | 15.19 Bn | 14.16 Bn |
| 2 | Southwest Airlines | 21.39 Bn | 18.06 Bn | 6.21 Bn | 5.39 Bn |
| 3 | Grupo Aeromexico, S.A.B. de C.V | 18.50 Bn | 17.47 Bn | -239.00 Mn | 3.53 Bn |
| 4 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.98 Bn | 8.98 Bn | - | 394.00 Mn |
| 5 | Alaska Air | 5.26 Bn | 3.49 Bn | 3.20 Bn | 5.32 Bn |
| 6 | Skywest | 3.43 Bn | 2.80 Bn | 924.11 Mn | 2.41 Bn |
| 7 | Copa Holdings | 3.33 Bn | 1.99 Bn | 713.71 Mn | 1.98 Bn |
| 8 | Jetblue Airways | 2.03 Bn | -140.72 Mn | 1.87 Bn | 8.44 Bn |
| 9 | Allegiant Travel | 1.67 Bn | 765.78 Mn | 651.87 Mn | 1.79 Bn |
| 10 | Frontier Group Holdings | 1.39 Bn | 618.26 Mn | 724.00 Mn | 583.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| Jun 30, 2021 | 11.35 Bn |
| Mar 31, 2021 | 10.77 Bn |
| Dec 31, 2020 | 10.33 Bn |
| Sep 30, 2020 | 10.86 Bn |
| Jun 30, 2020 | 9.60 Bn |
| Mar 31, 2020 | 5.08 Bn |
| Dec 31, 2019 | 2.67 Bn |
| Sep 30, 2019 | 3.04 Bn |
| Jun 30, 2019 | 3.10 Bn |
| Mar 31, 2019 | 3.17 Bn |
| Dec 31, 2018 | 3.38 Bn |
| Sep 30, 2018 | 3.45 Bn |
| Jun 30, 2018 | 3.52 Bn |
| Mar 31, 2018 | 3.59 Bn |
| Dec 31, 2017 | 3.67 Bn |
| Sep 30, 2017 | 3.08 Bn |
| Jun 30, 2017 | 3.10 Bn |
| Mar 31, 2017 | 3.07 Bn |
| Dec 31, 2016 | 3.39 Bn |
| Sep 30, 2016 | 3.30 Bn |
| Jun 30, 2016 | 3.35 Bn |
| Mar 31, 2016 | 3.31 Bn |
| Dec 31, 2015 | 3.18 Bn |
| Sep 30, 2015 | 2.67 Bn |
| Jun 30, 2015 | 2.69 Bn |
| Mar 31, 2015 | 2.69 Bn |
| Dec 31, 2014 | 2.69 Bn |
| Sep 30, 2014 | 2.73 Bn |
| Jun 30, 2014 | 2.76 Bn |
| Mar 31, 2014 | 2.81 Bn |
| Dec 31, 2013 | 2.82 Bn |
| Sep 30, 2013 | 2.88 Bn |
| Jun 30, 2013 | 2.93 Bn |
| Mar 31, 2013 | 2.99 Bn |
| Dec 31, 2012 | 3.15 Bn |
| Sep 30, 2012 | 3.23 Bn |
| Jun 30, 2012 | 3.28 Bn |
| Mar 31, 2012 | 3.09 Bn |
| Dec 31, 2011 | 3.19 Bn |
| Sep 30, 2011 | 3.34 Bn |
| Jun 30, 2011 | 3,247.00 |
| Mar 31, 2011 | 3.33 Bn |
| Dec 31, 2010 | 2.95 Bn |
| Sep 30, 2010 | 3.46 Bn |
| Jun 30, 2010 | 3.45 Bn |
| Mar 31, 2010 | 3.48 Bn |
| Dec 31, 2009 | 3.52 Bn |
| Sep 30, 2009 | 3.58 Bn |
| Jun 30, 2009 | 3.38 Bn |
| Mar 31, 2009 | 3.61 Bn |