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EBITDA Margin for Southwest Airlines (LUV)

As of · Reported

Metric

TTM

9.4%

YoY change

−1.02pp

Trough year (1996)

-57.3%

Peak year (2016)

23.2%

EBITDA Margin history chart for Southwest Airlines (LUV) from 1985 to 2025

Latest: 8.0%

EBITDA Margin change chart for Southwest Airlines (LUV) from 1985 to 2025

Latest: −1.02pp

EBITDA Margin history table for Southwest Airlines (LUV) from 1985 to 2025

  • 20258.0%-1.02pp
  • 20249.0%-0.18pp
  • 20239.2%-0.83pp
  • 202210.0%-9.18pp
  • 202119.2%+48.87pp
  • 2020-29.7%-48.68pp
  • 201919.0%-1.31pp
  • 201820.3%-1.19pp
  • 201721.5%-1.75pp
  • 201623.2%+0.11pp
  • 201523.1%+7.75pp
  • 201415.4%+3.04pp
  • 201312.3%+2.65pp
  • 20129.7%+1.89pp
  • 20117.8%-4.78pp
  • 201012.6%+3.44pp
  • 20099.1%+0.22pp
  • 20088.9%-8.66pp
  • 200717.6%+1.62pp
  • 200615.9%+0.20pp
  • 200515.7%+66.11pp
  • 2004-50.4%-63.22pp
  • 200312.9%+68.41pp
  • 2002-55.6%-72.64pp
  • 200117.1%-5.99pp
  • 200023.1%+63.59pp
  • 1999-40.5%+1.01pp
  • 1998-41.5%+7.99pp
  • 1997-49.5%+7.77pp
  • 1996-57.3%-32.86pp
  • 1995-24.4%-2.18pp
  • 1994-22.2%-40.16pp
  • 199317.9%+1.06pp
  • 199216.8%+5.50pp
  • 199111.4%-2.25pp
  • 199013.6%-3.15pp
  • 198916.7%-0.93pp
  • 198817.7%+6.87pp
  • 198710.8%-8.19pp
  • 198619.0%-0.45pp
  • 198519.4%—

EBITDA Margin values are taken from Southwest Airlines's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About EBITDA Margin at Southwest Airlines (LUV)

According to Southwest Airlines's latest reported financial statements, the company's latest reported EBITDA margin is 9.4%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

2025's annual EBITDA margin for Southwest Airlines (LUV) came in at 7.97% – contracted 1.0 percentage points year-over-year.

2016 marks the peak EBITDA margin at 23.24%, with the historical low of -57.29% recorded in 1996.

Southwest Airlines EBITDA Margin by Year

Southwest Airlines EBITDA Margin 2025: 8.0%

Southwest Airlines posted EBITDA margin of 7.97% in 2025, contracted 1.0 percentage points from 2024.

Southwest Airlines EBITDA Margin 2024: 9.0%

In 2024, Southwest Airlines reported EBITDA margin of 8.98%, contracted 0.2 percentage points from 2023.

Southwest Airlines EBITDA Margin 2023: 9.2%

Southwest Airlines EBITDA margin in 2023 was 9.16%, contracted 0.8 percentage points from 2022.

Southwest Airlines EBITDA Margin 2022: 10.0%

2022's EBITDA margin for Southwest Airlines came in at 9.99%, contracted 9.2 percentage points from 2021.

Southwest Airlines EBITDA Margin 2021: 19.2%

Southwest Airlines EBITDA margin in 2021 was 19.18%.

See more financial history for Southwest Airlines (LUV).

Sector peers by EBITDA Margin

Industrials peers of Southwest Airlines (LUV), ranked by their latest EBITDA margin

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