Friday 6 November 2026 Export LUV’s income statement to Excel — free account

Southwest Airlines Co.

Southwest Airlines Co.’s revenue for fiscal 2025 (year ended December 2025) was $28.1 billion, up 2.11% from fiscal 2024.

Revenue: +21.2%
EPS: +450.0%
Free cash flow: +46.9%
Total debt: +43.5%

Quarter to September 2026, against a year earlier

44.39 0.05 −0.11%

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Market cap: $21.8B
P/E: 21.0×
Fwd P/E: 17.1×
Dividend yield: 1.62%
F-score: 7/9
Altman Z: 2.22
Beneish M: −2.66
Dividend safety: 24/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Southwest Airlines Co. (LUV) P/B ratio

Alert me on P/B ratio

As of 6 November 2026, Southwest Airlines Co. (LUV) trades at a P/B ratio of 3.0×. Over the past ten years it has ranged from 1.2× (November 2023) to 4.8× (January 2015); the current reading is higher than 54% of that period. That is above the Airlines industry median of 2.1× and above the Industrials sector median of 2.2×.

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<iframe src="https://stockrow.com/embed/LUV/pb-ratio" width="100%" height="360" style="border:0" loading="lazy" title="Southwest Airlines Co. P/B ratio, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/LUV/metrics/pb-ratio">Southwest Airlines Co. (LUV) P/B ratio — stockrow.com</a></p>

Period	P/B ratio	Change
FY2025	2.8×	43.96%
FY2024	1.9×	20.53%
FY2023	1.6×	(10.91%)
FY2022	1.8×	(25.72%)
FY2021	2.4×	(17.92%)
FY2020	3.0×	0.45%
FY2019	3.0×	9.27%
FY2018	2.7×	(34.59%)
FY2017	4.1×	11.31%
FY2016	3.7×	(4.03%)

Period	P/B ratio	Change
Sep 2026	2.8×	(21.74%)
Jun 2026	3.6×	30.47%
Mar 2026	2.7×	(2.68%)
Dec 2025	2.8×	30.30%
43 more quarters	Free account

Against its own ten years

Low 1.2× High 4.8×

Ten-year median 2.9×

Current reading's percentile 59

Company	P/B ratio
AAL American Airlines Group Inc. compare	n/m
SKYW SkyWest, Inc. compare	1.1×
ALK Alaska Air Group, Inc. compare	1.2×
CPA Copa Holdings, S.A. compare	2.0×
UAL United Airlines Holdings Inc compare	2.1×
RYAAY Ryanair Holdings PLC compare	2.3×
DAL Delta Air Lines, Inc. compare	2.5×
LUV Southwest Airlines Co.	3.0×
LTM LATAM Airlines Group S.A. compare	6.2×
Airlines industry median	2.1×
Industrials sector median	2.2×
Market median	1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

Southwest Airlines Co. (LUV) P/B ratio

P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

More on LUV

P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

More on LUV

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