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Southwest Airlines forward PE LUV

Share price divided by analysts' consensus earnings for the next twelve months, since 1996.

Today, Oct 23, 2026
13.6×
10-year median
21.5×
Against its 10-year history
9th
percentile: 0 is its lowest day, 100 its highest
10-year range
11.1× to 97.3×
Peer median
11.2×

Southwest Airlines' forward PE is 13.6× as of Oct 23, 2026.

That is below its ten-year median of 21.5×, lower than on 91% of days in the last ten years.

Over that time it ranged from 11.1× in Sep 2026 to 97.3× in Jan 2024.

The median for 3 airline and airport stocks of a similar size is 11.2×.

Forward PE over time

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

YearEnd of yearLowHigh
2026 so far13.6×11.1×22.4×
202519.4×14.3×44.7×
202445.2×31.6×97.3×
202393.7×21.7×95.7×
202230.0×26.6×40.2×
202131.7×29.3×81.8×
2020n/m a value too high to mean anything
201916.2×12.0×16.7×
201811.7×11.5×17.4×
201717.4×14.2×18.3×
201615.0×10.2×15.2×
201511.5×9.0×14.0×
201413.7×10.6×14.9×
201313.2×10.2×13.7×
201212.4×10.7×24.5×
201120.9×18.3×32.3×
201024.0×16.0×26.3×
200919.4×14.2×73.6×
200866.3×36.8×100×
200739.5×26.9×46.1×

Against its peers

Companies in Airlines, Airports & Air Services nearest Southwest Airlines' size, closest first, today.

CompanyForward PE
LUVSouthwest Airlines13.6×
UALUnited Airlines10.8×
DALDelta Air Lines11.7×
SKYWSkywestn/m
Peer median11.2×

Where Southwest Airlines ranks

What the forward PE tells you

Price divided by what analysts expect the company to earn over the next twelve months. It answers "what am I paying for next year" instead of last year.

Estimates are opinions. When forward PE is far below trailing PE, analysts expect a big jump in earnings. If that jump slips, the stock was not as cheap as it looked.

More on Southwest Airlines

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.