Southwest Airlines Financial Ratios
NYSE: LUVConsumer DiscretionaryAir Freight/Delivery ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Southwest Airlines ratio analysis
Southwest Airlines earned a net margin of 1.6% in FY 2025, down from 1.7% a year earlier. Return on equity reached 5.5%, meaning Southwest Airlines generated 0.06 dollars of profit for every dollar of shareholders' equity. Debt-to-equity stood at 0.61 versus 0.65 the year before, and the current ratio was 0.52.
At the end of FY 2025, LUV traded at 52.3 times earnings; across the 9 fiscal years shown, its year-end P/E ranged from 11.2 to 52.3, with a median of 26.6. Valuation ratios use the closing share price on each fiscal year-end date and diluted shares from the income statement; profitability and leverage ratios use reported annual figures. Current valuation multiples are on the statistics page.
Summary generated from market data by MetaCap's automated system. Methodology
Southwest Airlines financial ratios (annual)
| Ratio | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E ratio (at fiscal year end) | 52.28 | 44.22 | 38.00 | 38.70 | 26.61 | — | 12.73 | 11.16 | 11.75 | 14.45 |
| Price / sales | 0.79 | 0.73 | 0.66 | 0.84 | 1.61 | 2.91 | 1.30 | 1.25 | 1.86 | 1.53 |
| Price / book | 2.79 | 1.94 | 1.63 | 1.87 | 2.44 | 2.97 | 2.97 | 2.78 | 4.08 | 4.01 |
| Operating margin | 1.5% | 1.2% | 0.9% | 4.3% | 10.9% | -42.2% | 13.2% | 14.6% | 16.1% | 17.2% |
| Net margin | 1.6% | 1.7% | 1.8% | 2.3% | 6.2% | -34.0% | 10.3% | 11.2% | 15.9% | 10.7% |
| Free cash flow margin | -3.0% | -5.8% | -1.4% | -0.6% | 11.5% | -18.1% | 13.2% | 13.5% | 8.5% | 11.0% |
| Return on equity (ROE) | 5.5% | 4.5% | 4.4% | 5.0% | 9.4% | -34.6% | 23.4% | 25.0% | 34.8% | 28.0% |
| Return on assets (ROA) | 1.5% | 1.4% | 1.3% | 1.5% | 2.7% | -8.9% | 8.9% | 9.4% | 13.4% | 9.4% |
| Debt / equity | 0.61 | 0.65 | 0.76 | 0.76 | 1.03 | 1.16 | 0.27 | 0.34 | 0.38 | 0.44 |
| Current ratio | 0.52 | 0.92 | 1.14 | 1.43 | 1.97 | 2.02 | 0.67 | 0.64 | 0.70 | 0.66 |
| Revenue growth | 2.1% | 5.3% | 9.6% | 50.8% | 74.5% | -59.7% | 2.1% | 3.8% | 3.7% | 3.1% |
| EPS growth | 3.9% | 0.0% | -12.6% | -46.0% | — | -227.4% | -0.5% | -23.0% | 61.4% | 5.5% |