Southwest Airlines Co. LUV
42.68
1.13
2.72%
as of 25 Sep
- Market cap
- $20.5B
- P/E
- 25.7×
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Southwest Airlines Co. (LUV) Gross margin
Southwest Airlines Co.'s gross margin over the twelve months to 30 June 2026 was 23.2%, up 0.2 percentage points from fiscal 2025 (23.0%). Over the past ten years it has ranged from −7.02% (fiscal 2020) to 37.4% (fiscal 2015); the current reading is higher than 36% of that period. That is below the Airlines industry median of 42.6% and below the Industrials sector median of 30.5%.
Gross margin, annual
Annual
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 23.0% | 0.75 |
| FY2024 | 22.3% | 0.23 |
| FY2023 | 22.0% | (3.61) |
| FY2022 | 25.6% | (8.49) |
| FY2021 | 34.1% | 41.14 |
| FY2020 | −7.02% | (39.13) |
| FY2019 | 32.1% | (0.94) |
| FY2018 | 33.1% | (2.29) |
| FY2017 | 35.3% | (1.36) |
| FY2016 | 36.7% | (0.70) |
Quarterly
| Period | Gross margin | Change (points) |
|---|---|---|
| Jun 2026 | 21.2% | (3.15) |
| Mar 2026 | 24.4% | (0.94) |
| Dec 2025 | 25.3% | 2.96 |
| Sep 2025 | 22.3% | (1.94) |
| 42 more quarters | Free account |
Against its own ten years
Low −7.02%
High 37.4%
Ten-year median
32.1%
Current reading's percentile
36
Gross margin against peers
| Company | Gross margin |
|---|---|
| ALK Alaska Air Group, Inc. compare | 100.0% |
| UAL United Airlines Holdings Inc compare | 67.7% |
| CPA Copa Holdings, S.A. compare | 62.4% |
| RYAAY Ryanair Holdings PLC compare | 52.3% |
| DAL Delta Air Lines, Inc. compare | 32.8% |
| LTM LATAM Airlines Group S.A. compare | 27.0% |
| LUV Southwest Airlines Co. | 23.2% |
| AAL American Airlines Group Inc. compare | 21.1% |
| ZNH China Southern Airlines Company Limited compare | −0.11% |
| Airlines industry median | 42.6% |
| Industrials sector median | 30.5% |
| Market median | 46.3% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on LUV
- Revenue
- Net income
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- The full statement