Southwest Airlines Co (LUV) stock
LUVNYSEAir Transportation, ScheduledFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 22, 2026Score 12/3015% below fair value
$44.94−0.29 (-0.64%)
Close on Nov 13, 2026Market cap $22.00BP/E 22.1Yield 1.60%
Southwest Airlines total debt
Total debt is short-term plus long-term borrowings on the balance sheet at the end of each period.
Southwest Airlines's total debt was $5.89B at Sep 30, 2026. For fiscal 2025 it was $4.90B, down 26.8% from the year before. Over ten years it grew 4.4% a year on average. The highest annual figure on record is $10.73B in fiscal 2021.
Annual total debt
| Period | Period end | Value | Change |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $4.90B | -26.8% |
| FY2024 | Dec 31, 2024 | $6.70B | -16.3% |
| FY2023 | Dec 31, 2023 | $8.01B | -1.0% |
| FY2022 | Dec 31, 2022 | $8.09B | -24.6% |
| FY2021 | Dec 31, 2021 | $10.73B | +3.8% |
| FY2020 | Dec 31, 2020 | $10.33B | +287.7% |
| FY2019 | Dec 31, 2019 | $2.67B | -21.1% |
| FY2018 | Dec 31, 2018 | $3.38B | -7.9% |
| FY2017 | Dec 31, 2017 | $3.67B | +8.3% |
| FY2016 | Dec 31, 2016 | $3.39B | +6.6% |
| FY2015 | Dec 31, 2015 | $3.18B | +18.1% |
| FY2014 | Dec 31, 2014 | $2.69B | -4.5% |
| FY2013 | Dec 31, 2013 | $2.82B | -10.6% |
| FY2012 | Dec 31, 2012 | $3.15B | -15.9% |
| FY2011 | Dec 31, 2011 | $3.75B | +11.0% |
| FY2010 | Dec 31, 2010 | $3.38B | -3.8% |
| FY2009 | Dec 31, 2009 | $3.52B | -4.0% |
| FY2008 | Dec 31, 2008 | $3.66B | – |
Quarterly total debt
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | $5.89B | +43.5% |
| Q2 FY2026 | Jun 30, 2026 | $5.95B | +44.9% |
| Q1 FY2026 | Mar 31, 2026 | $5.39B | -19.5% |
| Q4 FY2025 | Dec 31, 2025 | $4.90B | -26.8% |
| Q3 FY2025 | Sep 30, 2025 | $4.10B | -48.8% |
| Q2 FY2025 | Jun 30, 2025 | $4.10B | -48.7% |
| Q1 FY2025 | Mar 31, 2025 | $6.69B | -16.3% |
| Q4 FY2024 | Dec 31, 2024 | $6.70B | -16.3% |
| Q3 FY2024 | Sep 30, 2024 | $8.01B | -0.1% |
| Q2 FY2024 | Jun 30, 2024 | $8.00B | -0.4% |
| Q1 FY2024 | Mar 31, 2024 | $8.00B | -0.4% |
| Q4 FY2023 | Dec 31, 2023 | $8.01B | -1.0% |
| Q3 FY2023 | Sep 30, 2023 | $8.01B | -7.8% |
| Q2 FY2023 | Jun 30, 2023 | $8.03B | -23.9% |
| Q1 FY2023 | Mar 31, 2023 | $8.03B | -25.1% |
| Q4 FY2022 | Dec 31, 2022 | $8.09B | -24.6% |
| Q3 FY2022 | Sep 30, 2022 | $8.70B | -22.6% |
| Q2 FY2022 | Jun 30, 2022 | $10.54B | -7.2% |
| Q1 FY2022 | Mar 31, 2022 | $10.72B | -0.4% |
| Q4 FY2021 | Dec 31, 2021 | $10.73B | +3.8% |
| Q3 FY2021 | Sep 30, 2021 | $11.24B | +3.5% |
| Q2 FY2021 | Jun 30, 2021 | $11.35B | +18.3% |
| Q1 FY2021 | Mar 31, 2021 | $10.77B | +111.9% |
| Q4 FY2020 | Dec 31, 2020 | $10.33B | +287.7% |
| Q3 FY2020 | Sep 30, 2020 | $10.86B | +257.7% |
| Q2 FY2020 | Jun 30, 2020 | $9.60B | +209.4% |
| Q1 FY2020 | Mar 31, 2020 | $5.08B | +60.2% |
| Q4 FY2019 | Dec 31, 2019 | $2.67B | -21.1% |
| Q3 FY2019 | Sep 30, 2019 | $3.04B | -11.9% |
| Q2 FY2019 | Jun 30, 2019 | $3.10B | -11.8% |
| Q1 FY2019 | Mar 31, 2019 | $3.17B | -11.7% |
| Q4 FY2018 | Dec 31, 2018 | $3.38B | -7.9% |
| Q3 FY2018 | Sep 30, 2018 | $3.45B | +11.9% |
| Q2 FY2018 | Jun 30, 2018 | $3.52B | +13.7% |
| Q1 FY2018 | Mar 31, 2018 | $3.59B | +17.2% |
| Q4 FY2017 | Dec 31, 2017 | $3.67B | +8.3% |
| Q3 FY2017 | Sep 30, 2017 | $3.08B | – |
| Q2 FY2017 | Jun 30, 2017 | $3.10B | – |
| Q1 FY2017 | Mar 31, 2017 | $3.07B | – |
| Q4 FY2016 | Dec 31, 2016 | $3.39B | – |
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