TTM
2.8%
YoY change
−0.12pp
Trough year (2020)
-34.0%
Peak year (2017)
16.5%
Latest annual
1.6%
Net Profit Margin history chart for Southwest Airlines (LUV) from 1985 to 2025
Latest: 1.6%
Net Profit Margin change chart for Southwest Airlines (LUV) from 1985 to 2025
Latest: −0.12pp
Net Profit Margin history table for Southwest Airlines (LUV) from 1985 to 2025
| 2025 | 1.6% | -0.12pp | ||
| 2024 | 1.7% | -0.09pp | ||
| 2023 | 1.8% | -0.48pp | ||
| 2022 | 2.3% | -3.92pp | ||
| 2021 | 6.2% | +40.16pp | ||
| 2020 | -34.0% | -44.23pp | ||
| 2019 | 10.3% | -0.97pp | ||
| 2018 | 11.2% | -5.25pp | ||
| 2017 | 16.5% | +5.49pp | ||
| 2016 | 11.0% | -0.02pp | ||
| 2015 | 11.0% | +4.90pp | ||
| 2014 | 6.1% | +1.85pp | ||
| 2013 | 4.3% | +1.80pp | ||
| 2012 | 2.5% | +1.33pp | ||
| 2011 | 1.1% | -2.66pp | ||
| 2010 | 3.8% | +2.84pp | ||
| 2009 | 1.0% | -0.66pp | ||
| 2008 | 1.6% | -4.93pp | ||
| 2007 | 6.5% | +1.05pp | ||
| 2006 | 5.5% | -1.73pp | ||
| 2005 | 7.2% | +2.43pp | ||
| 2004 | 4.8% | -2.65pp | ||
| 2003 | 7.4% | +3.08pp | ||
| 2002 | 4.4% | -4.84pp | ||
| 2001 | 9.2% | -1.47pp | ||
| 2000 | 10.7% | +0.66pp | ||
| 1999 | 10.0% | -0.39pp | ||
| 1998 | 10.4% | +2.08pp | ||
| 1997 | 8.3% | +2.24pp | ||
| 1996 | 6.1% | -0.27pp | ||
| 1995 | 6.4% | -0.56pp | ||
| 1994 | 6.9% | -0.47pp | ||
| 1993 | 7.4% | +1.24pp | ||
| 1992 | 6.1% | +4.09pp | ||
| 1991 | 2.0% | -1.92pp | ||
| 1990 | 4.0% | -3.08pp | ||
| 1989 | 7.1% | +0.31pp | ||
| 1988 | 6.7% | +4.10pp | ||
| 1987 | 2.6% | -3.97pp | ||
| 1986 | 6.6% | -0.34pp | ||
| 1985 | 7.0% | — |
- 20251.6%-0.12pp
- 20241.7%-0.09pp
- 20231.8%-0.48pp
- 20222.3%-3.92pp
- 20216.2%+40.16pp
- 2020-34.0%-44.23pp
- 201910.3%-0.97pp
- 201811.2%-5.25pp
- 201716.5%+5.49pp
- 201611.0%-0.02pp
- 201511.0%+4.90pp
- 20146.1%+1.85pp
- 20134.3%+1.80pp
- 20122.5%+1.33pp
- 20111.1%-2.66pp
- 20103.8%+2.84pp
- 20091.0%-0.66pp
- 20081.6%-4.93pp
- 20076.5%+1.05pp
- 20065.5%-1.73pp
- 20057.2%+2.43pp
- 20044.8%-2.65pp
- 20037.4%+3.08pp
- 20024.4%-4.84pp
- 20019.2%-1.47pp
- 200010.7%+0.66pp
- 199910.0%-0.39pp
- 199810.4%+2.08pp
- 19978.3%+2.24pp
- 19966.1%-0.27pp
- 19956.4%-0.56pp
- 19946.9%-0.47pp
- 19937.4%+1.24pp
- 19926.1%+4.09pp
- 19912.0%-1.92pp
- 19904.0%-3.08pp
- 19897.1%+0.31pp
- 19886.7%+4.10pp
- 19872.6%-3.97pp
- 19866.6%-0.34pp
- 19857.0%—
Net Profit 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 Net Profit Margin at Southwest Airlines (LUV)
According to Southwest Airlines's latest reported financial statements, the company's latest reported net margin is 2.8%. Net profit margin is net income divided by revenue — the bottom-line share of each sales dollar that remains after all costs, including operating expenses, interest, and taxes. It is the most comprehensive profitability ratio, though it can swing on one-off items, so read it alongside the multi-year trend below.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
In 2025, Southwest Airlines (LUV) net margin totalled 1.57% – contracted 0.1 percentage points year-over-year.
2017 marks the peak net margin at 16.48%, with the historical low of -33.97% recorded in 2020.
Southwest Airlines Net Profit Margin by Year
Southwest Airlines Net Profit Margin 2025: 1.6%
Southwest Airlines net margin in 2025 was 1.57%, contracted 0.1 percentage points from 2024.
Southwest Airlines Net Profit Margin 2024: 1.7%
2024's net margin for Southwest Airlines came in at 1.69%, contracted 0.1 percentage points from 2023.
Southwest Airlines Net Profit Margin 2023: 1.8%
Southwest Airlines posted net margin of 1.78% in 2023, contracted 0.5 percentage points from 2022.
Southwest Airlines Net Profit Margin 2022: 2.3%
In 2022, Southwest Airlines reported net margin of 2.26%, contracted 3.9 percentage points from 2021.
Southwest Airlines Net Profit Margin 2021: 6.2%
Southwest Airlines net margin in 2021 was 6.19%.
See more financial history for Southwest Airlines (LUV).
Sector peers by Net Profit Margin
Industrials peers of Southwest Airlines (LUV), ranked by their latest net margin
| 29.2% | |
| 17.9% | |
| 14.0% | |
| 13.3% | |
| 11.2% | |
| 9.3% | |
| 8.0% | |
| 2.5% |
- 29.2%
- 17.9%
- 13.3%
- 8.0%
- 2.5%
Frequently asked questions
Southwest Airlines (LUV) Key Financials
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