Market Cap for Southwest Airlines (LUV)
According to Southwest Airlines's latest reported financial statements, the company's latest reported market cap is $18.90B USD. Market capitalization is the total dollar value of all outstanding shares — shares outstanding × stock price — and the standard measure of a company's equity value. On this page, historical market cap snaps filing-period share counts to closing prices on or before each statement date (not intraday tick data).
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Currently viewingMarket CapSwitch metric
Latest period
$18.90B
YoY change
-18.8%
5Y CAGR
-6.4%
Peak year (2017)
$39.47B
Latest annual
$18.72B
Market Cap history chart for Southwest Airlines (LUV) from 1985 to 2026
Market Cap history table for Southwest Airlines (LUV) from 1985 to 2026
| Fiscal year | Period ended | Reported | Market Cap | YoY |
|---|---|---|---|---|
| 2026 | $18.72B | -18.8% | ||
| 2025 | $23.06B | +6.7% | ||
| 2024 | $21.62B | +17.0% | ||
| 2023 | $18.48B | -14.5% | ||
| 2022 | $21.62B | -17.1% | ||
| 2021 | $26.09B | -0.9% | ||
| 2020 | $26.33B | -9.5% | ||
| 2019 | $29.10B | +9.1% | ||
| 2018 | $26.68B | -32.4% | ||
| 2017 | $39.47B | +25.1% | ||
| 2016 | $31.55B | +9.5% | ||
| 2015 | $28.81B | -2.2% | ||
| 2014 | $29.45B | +117.7% | ||
| 2013 | $13.53B | +74.5% | ||
| 2012 | $7.75B | +16.8% | ||
| 2011 | $6.63B | -31.6% | ||
| 2010 | $9.70B | +14.5% | ||
| 2009 | $8.47B | +33.0% | ||
| 2008 | $6.37B | -32.0% | ||
| 2007 | $9.37B | -25.3% | ||
| 2006 | $12.53B | -5.4% | ||
| 2005 | $13.25B | -1.2% | ||
| 2004 | $13.41B | +2.7% | ||
| 2003 | $13.05B | -6.5% | ||
| 2002 | $13.96B | -6.9% | ||
| 2001 | $14.99B | -15.3% | ||
| 2000 | $17.71B | +104.6% | ||
| 1999 | $8.65B | +8.3% | ||
| 1998 | $7.99B | +42.9% | ||
| 1997 | $5.59B | +65.0% | ||
| 1996 | $3.39B | +2.2% | ||
| 1995 | $3.32B | +34.1% | ||
| 1994 | $2.47B | -54.6% | ||
| 1993 | $5.44B | +103.3% | ||
| 1992 | $2.68B | +76.9% | ||
| 1991 | $1.51B | +95.5% | ||
| 1990 | $773.79M | +2.9% | ||
| 1989 | $751.80M | +16.7% | ||
| 1988 | $644.47M | +63.0% | ||
| 1987 | $395.33M | -38.9% | ||
| 1986 | $646.70M | -18.9% | ||
| 1985 | $797.34M | — |
Market Cap 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
The 2026 reading of Southwest Airlines (LUV) market cap is $18.72B – declined 18.8% year-over-year.
Over 2021–2026 (5 years), Southwest Airlines market cap expanded at a -6.4% compound annual rate, with a net decline across the window.
Southwest Airlines market cap plunged from $39.47B in 2017 to $18.72B in 2026, a 52.6% drawdown.
The dataset's maximum market cap sits at $39.47B (2017); the minimum reading of $395.33M dates to 1987.
Within Industrials, Southwest Airlines (LUV) ranks 9th among 8 peers we track. The peer median for market cap is $171.07B.
Southwest Airlines Market Cap by Year
Southwest Airlines Market Cap 2026: $18.72B
Southwest Airlines market cap in 2026 was $18.72B, declined 18.8% below 2025.
Southwest Airlines Market Cap 2025: $23.06B
Southwest Airlines market cap in 2025 was $23.06B, grew 6.7% from 2024.
Southwest Airlines Market Cap 2024: $21.62B
Southwest Airlines market cap in 2024 was $21.62B, grew 17.0% from 2023.
Southwest Airlines Market Cap 2023: $18.48B
Southwest Airlines market cap in 2023 was $18.48B, declined 14.5% below 2022.
Southwest Airlines Market Cap 2022: $21.62B
Southwest Airlines market cap in 2022 was $21.62B.
See more financial history for Southwest Airlines (LUV).
Sector peers — Market Cap
Companies in the same sector as Southwest Airlines, ranked by their latest market cap.
| Company | Market Cap | Sector |
|---|---|---|
| Caterpillar Inc. (CAT) | $380.54B | Industrials |
| GE Aerospace (GE) | $302.16B | Industrials |
| RTX Corporation (RTX) | $236.58B | Industrials |
| The Boeing Company (BA) | $181.88B | Industrials |
| Eaton Corporation plc (ETN) | $160.26B | Industrials |
| Union Pacific Corporation (UNP) | $158.96B | Industrials |
| Deere & Company (DE) | $152.30B | Industrials |
| Honeywell International Inc. (HON) | $134.92B | Industrials |
Frequently asked questions
What is Southwest Airlines's market cap?
- Latest reported market cap for Southwest Airlines (LUV) is $18.90B (period ending March 31, 2026).
How has Southwest Airlines market cap changed year-over-year?
- Southwest Airlines (LUV) market cap changed -18.8% year-over-year on the latest annual filing.
What is the long-term growth rate of Southwest Airlines market cap?
- Southwest Airlines (LUV) market cap compound annual growth rate is -6.4% over the most recent 5 years available.
When did Southwest Airlines market cap hit its highest annual value?
- Southwest Airlines market cap reached its highest annual value of $39.47B in 2017.
What was Southwest Airlines market cap in 2025?
- Southwest Airlines (LUV) market cap in 2025 was $23.06B.
What was Southwest Airlines market cap in 2026?
- Southwest Airlines (LUV) market cap in 2026 was $18.72B.
Metrics overview
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