SuperworthSouthwest Airlines profit margin LUV
Gross, operating and net profit as a share of revenue over the last twelve months, from 2009.
- Net margin, 12 months
- 2.8%
- Operating margin, 12 months
- 3.5%
- Net margin on a year earlier
- +1.4 pts
- Peer median
- 5.6%
Over the twelve months to Jun 30, 2026, Southwest Airlines kept 2.8% of its revenue as net profit, with an operating margin of 3.5%.
Five years earlier its net margin was −16.2%.
The median for 3 airline and airport stocks of a similar size is 5.6%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin |
|---|---|---|
| FY2025 | 1.6% | 1.5% |
| FY2024 | 1.7% | 1.2% |
| FY2023 | 1.8% | 0.9% |
| FY2022 | 2.3% | 4.3% |
| FY2021 | 6.2% | 10.9% |
| FY2020 | −34.0% | −42.2% |
| FY2019 | 10.3% | 13.2% |
| FY2018 | 11.2% | 14.6% |
| FY2017 | 15.9% | 16.1% |
| FY2016 | 11.0% | 18.4% |
| FY2015 | 11.0% | 20.8% |
| FY2014 | 6.1% | 12.0% |
| FY2013 | 4.3% | 7.2% |
| FY2012 | 2.5% | 3.7% |
| FY2011 | 1.1% | 4.4% |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q2 FY26 | 2.8% | +1.4 pts | 3.5% | |
| Q1 FY26 | 2.8% | +0.8 pts | 3.4% | |
| Q4 FY25 | 1.6% | −0.1 pts | 1.5% | |
| Q3 FY25 | 1.4% | +1.6 pts | 1.1% | |
| Q2 FY25 | 1.4% | +1.1 pts | 1.2% | |
| Q1 FY25 | 2.0% | +0.5 pts | 1.8% | |
| Q4 FY24 | 1.7% | −0.1 pts | 1.2% | |
| Q3 FY24 | −0.2% | −2.1 pts | −1.3% | |
| Q2 FY24 | 0.3% | −2.0 pts | −1.0% | |
| Q1 FY24 | 1.5% | −1.2 pts | 0.4% | |
| Q4 FY23 | 1.8% | −0.5 pts | 0.9% | |
| Q3 FY23 | 2.0% | −1.7 pts | 1.0% |
Against its peers
Companies in Airlines, Airports & Air Services nearest Southwest Airlines' size, closest first, today.
| Company | Profit margin |
|---|---|
| LUVSouthwest Airlines | 2.8% |
| UALUnited Airlines | 5.6% |
| DALDelta Air Lines | 4.6% |
| SKYWSkywest | 9.8% |
| Peer median | 5.6% |
Where Southwest Airlines ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on Southwest Airlines
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.