EBITDA for Southwest Airlines (LUV)
According to Southwest Airlines's latest reported financial statements, the company's current EBITDA (TTM) is $2.73B USD. EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It is a common proxy for operating cash generation that strips out non-cash charges (depreciation and amortization) and capital structure effects (interest, taxes). Useful for comparing companies with different leverage and asset bases — see operating income and net income for fully GAAP figures.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingEBITDASwitch metric
TTM (last 4 quarters)
$2.73B
YoY change
-9.4%
5Y CAGR
N/A
Peak year (2016)
$4.75B
Cumulative EBITDA
$37.73B
EBITDA history chart for Southwest Airlines (LUV) from 1985 to 2025
EBITDA history table for Southwest Airlines (LUV) from 1985 to 2025
| Fiscal year | Period ended | Reported | EBITDA | YoY |
|---|---|---|---|---|
| 2025 | $2.24B | -9.4% | ||
| 2024 | $2.47B | +3.3% | ||
| 2023 | $2.39B | +0.5% | ||
| 2022 | $2.38B | -21.4% | ||
| 2021 | $3.03B | -212.7% | ||
| 2020 | -$2.69B | -163.1% | ||
| 2019 | $4.26B | -4.5% | ||
| 2018 | $4.46B | -2.0% | ||
| 2017 | $4.55B | -4.2% | ||
| 2016 | $4.75B | +3.5% | ||
| 2015 | $4.58B | +60.2% | ||
| 2014 | $2.86B | +31.1% | ||
| 2013 | $2.18B | +31.9% | ||
| 2012 | $1.66B | +35.7% | ||
| 2011 | $1.22B | -19.8% | ||
| 2010 | $1.52B | +61.1% | ||
| 2009 | $945.00M | -3.8% | ||
| 2008 | $982.00M | -43.3% | ||
| 2007 | $1.73B | +19.5% | ||
| 2006 | $1.45B | +21.4% | ||
| 2005 | $1.19B | -136.3% | ||
| 2004 | -$3.29B | -531.1% | ||
| 2003 | $763.00M | -124.9% | ||
| 2002 | -$3.07B | -423.3% | ||
| 2001 | $948.95M | -27.2% | ||
| 2000 | $1.30B | -167.9% | ||
| 1999 | -$1.92B | +11.0% | ||
| 1998 | -$1.73B | -8.5% | ||
| 1997 | -$1.89B | -3.1% | ||
| 1996 | -$1.95B | +178.0% | ||
| 1995 | -$701.80M | +21.7% | ||
| 1994 | -$576.70M | -240.2% | ||
| 1993 | $411.30M | +44.9% | ||
| 1992 | $283.90M | +90.4% | ||
| 1991 | $149.10M | -7.6% | ||
| 1990 | $161.40M | -5.1% | ||
| 1989 | $170.00M | +11.8% | ||
| 1988 | $152.10M | +83.9% | ||
| 1987 | $82.70M | -42.4% | ||
| 1986 | $143.60M | +8.6% | ||
| 1985 | $132.20M | — |
EBITDA values are taken from Southwest Airlines's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
In 2025, Southwest Airlines (LUV) EBITDA totalled $2.24B – declined 9.4% year-over-year.
Over 2015–2025 (10 years), Southwest Airlines EBITDA expanded at a -6.9% compound annual rate, with a net decline across the window.
Southwest Airlines EBITDA plunged from $4.75B in 2016 to $2.24B in 2025, a 52.9% drawdown.
The dataset's maximum EBITDA sits at $4.75B (2016); the minimum reading of -$3.29B dates to 2004.
Among 8 Industrials peers, Southwest Airlines (LUV) ranks 9th; the peer median for EBITDA is $11.86B.
Southwest Airlines EBITDA by Year
Southwest Airlines EBITDA 2025: $2.24B
Southwest Airlines EBITDA in 2025 was $2.24B, declined 9.4% below 2024.
Southwest Airlines EBITDA 2024: $2.47B
Southwest Airlines EBITDA in 2024 was $2.47B, edged up 3.3% from 2023.
Southwest Airlines EBITDA 2023: $2.39B
Southwest Airlines EBITDA in 2023 was $2.39B, edged up 0.5% from 2022.
Southwest Airlines EBITDA 2022: $2.38B
Southwest Airlines EBITDA in 2022 was $2.38B, declined 21.4% below 2021.
Southwest Airlines EBITDA 2021: $3.03B
Southwest Airlines EBITDA in 2021 was $3.03B.
See more financial history for Southwest Airlines (LUV).
Sector peers — EBITDA
Companies in the same sector as Southwest Airlines, ranked by their latest EBITDA.
| Company | EBITDA | Sector |
|---|---|---|
| Caterpillar Inc. (CAT) | $14.86B | Industrials |
| Union Pacific Corporation (UNP) | $12.95B | Industrials |
| RTX Corporation (RTX) | $12.89B | Industrials |
| GE Aerospace (GE) | $12.06B | Industrials |
| Deere & Company (DE) | $11.66B | Industrials |
| Honeywell International Inc. (HON) | $8.21B | Industrials |
| The Boeing Company (BA) | $7.36B | Industrials |
| Eaton Corporation plc (ETN) | $5.95B | Industrials |
Frequently asked questions
What is Southwest Airlines's EBITDA?
- Latest reported EBITDA for Southwest Airlines (LUV) is $2.73B (period ending March 31, 2026).
How has Southwest Airlines EBITDA changed year-over-year?
- Southwest Airlines (LUV) EBITDA changed -9.4% year-over-year on the latest annual filing.
What is the long-term growth rate of Southwest Airlines EBITDA?
- Southwest Airlines (LUV) EBITDA compound annual growth rate is -6.9% over the most recent 10 years available.
When did Southwest Airlines EBITDA hit its highest annual value?
- Southwest Airlines EBITDA reached its highest annual value of $4.75B in 2016.
What was Southwest Airlines EBITDA in 2024?
- Southwest Airlines (LUV) EBITDA in 2024 was $2.47B.
What was Southwest Airlines EBITDA in 2025?
- Southwest Airlines (LUV) EBITDA in 2025 was $2.24B.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
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