Southwest Airlines Company (LUV) — Capital Reinvestment Ratio
Southwest Airlines Company (LUV) has a Capital Reinvestment Ratio of 0.44x as of March 2026, meaning it reinvests 0% of its operating cash flow ($1.42 Billion) in capital expenditures ($630.00 Million). See Southwest Airlines Company balance sheet independence to measure how much of total assets are equity-financed.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Southwest Airlines Company Capital Reinvestment Ratio (1989–2025)
This chart tracks Southwest Airlines Company's Capital Reinvestment Ratio across 35 annual periods. Check total reinvestment intensity of Southwest Airlines Company to assess the company's total reinvestment commitment from operating cash flow.
Annual Capital Reinvestment Ratio for Southwest Airlines Company (1989–2025)
Year-by-year Capital Reinvestment Ratio for Southwest Airlines Company from 1989 to 2025. For live market cap and broader valuation context, see LUV company net worth.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 1.45x | $1.84 Billion | $2.67 Billion | ▼ -67.8% |
| 2024 | 4.50x | $462.00 Million | $2.08 Billion | ▲ +300.9% |
| 2023 | 1.12x | $3.16 Billion | $3.55 Billion | ▲ +7.9% |
| 2022 | 1.04x | $3.79 Billion | $3.95 Billion | ▲ +373.1% |
| 2021 | 0.22x | $2.32 Billion | $511.00 Million | ▼ -14.6% |
| 2019 | 0.26x | $3.99 Billion | $1.03 Billion | ▼ -36.2% |
| 2018 | 0.40x | $4.89 Billion | $1.98 Billion | ▼ -29.4% |
| 2017 | 0.57x | $3.93 Billion | $2.25 Billion | ▲ +14.5% |
| 2016 | 0.50x | $4.29 Billion | $2.15 Billion | ▼ -24.4% |
| 2015 | 0.66x | $3.24 Billion | $2.14 Billion | ▲ +5.1% |
| 2014 | 0.63x | $2.90 Billion | $1.83 Billion | ▲ +8.4% |
| 2013 | 0.58x | $2.49 Billion | $1.45 Billion | ▼ -11.0% |
| 2012 | 0.65x | $2.06 Billion | $1.35 Billion | ▼ -6.6% |
| 2011 | 0.70x | $1.39 Billion | $968.00 Million | ▲ +121.3% |
| 2010 | 0.32x | $1.56 Billion | $493.00 Million | ▼ -46.8% |
| 2009 | 0.59x | $985.00 Million | $585.00 Million | ▲ +26.9% |
| 2007 | 0.47x | $2.85 Billion | $1.33 Billion | ▼ -53.0% |
| 2006 | 1.00x | $1.41 Billion | $1.40 Billion | ▲ +83.3% |
| 2005 | 0.54x | $2.23 Billion | $1.21 Billion | ▼ -64.6% |
| 2004 | 1.53x | $1.16 Billion | $1.77 Billion | ▲ +65.6% |
| 2003 | 0.93x | $1.34 Billion | $1.24 Billion | ▼ -20.1% |
| 2002 | 1.16x | $520.21 Million | $603.06 Million | ▲ +72.5% |
| 2001 | 0.67x | $1.48 Billion | $997.84 Million | ▼ -23.1% |
| 2000 | 0.87x | $1.30 Billion | $1.13 Billion | ▼ -25.0% |
| 1999 | 1.17x | $1.00 Billion | $1.17 Billion | ▲ +9.1% |
| 1998 | 1.07x | $886.13 Million | $947.10 Million | ▼ -5.3% |
| 1997 | 1.13x | $610.59 Million | $688.93 Million | ▲ +2.5% |
| 1996 | 1.10x | $615.23 Million | $677.43 Million | ▼ -31.0% |
| 1995 | 1.60x | $456.44 Million | $728.64 Million | ▼ -16.5% |
| 1994 | 1.91x | $412.67 Million | $788.65 Million | ▲ +43.2% |
| 1993 | 1.33x | $392.70 Million | $524.20 Million | ▼ -13.7% |
| 1992 | 1.55x | $264.50 Million | $409.20 Million | ▼ -53.2% |
| 1991 | 3.31x | $103.20 Million | $341.10 Million | ▲ +16.4% |
| 1990 | 2.84x | $111.90 Million | $317.70 Million | ▲ +82.1% |
| 1989 | 1.56x | $168.00 Million | $261.90 Million | — |