Southwest Airlines Company
Southwest Airlines Co. operates as a passenger airline company that provides scheduled air transportation services in the United States and internationally. It also provides Rapid Rewards loyalty program; SWABIZ, an online booking tool; and inflight entertainment platform that includes movies-on-demand live and on-demand television, flight tracker, and additional curated content, as well as a var… Read more
Southwest Airlines Company (LUV) - Net Assets
Latest net assets as of December 2025: $7.98 Billion USD
Based on the latest financial reports, Southwest Airlines Company (LUV) has net assets worth $7.98 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($29.06 Billion) and total liabilities ($21.08 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $7.98 Billion |
| % of Total Assets | 27.46% |
| Annual Growth Rate | 7.36% |
| 5-Year Change | -23.36% |
| 10-Year Change | -5.45% |
| Growth Volatility | 12.78 |
Southwest Airlines Company - Net Assets Trend (1985–2025)
This chart illustrates how Southwest Airlines Company's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Southwest Airlines Company (1985–2025)
The table below shows the annual net assets of Southwest Airlines Company from 1985 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $7.98 Billion | -22.89% |
| 2024-12-31 | $10.35 Billion | -1.57% |
| 2023-12-31 | $10.52 Billion | -1.61% |
| 2022-12-31 | $10.69 Billion | +2.62% |
| 2021-12-31 | $10.41 Billion | +17.33% |
| 2020-12-31 | $8.88 Billion | -9.72% |
| 2019-12-31 | $9.83 Billion | -0.21% |
| 2018-12-31 | $9.85 Billion | -5.53% |
| 2017-12-31 | $10.43 Billion | +23.56% |
| 2016-12-31 | $8.44 Billion | +14.72% |
| 2015-12-31 | $7.36 Billion | +14.36% |
| 2014-12-31 | $6.43 Billion | -12.30% |
| 2013-12-31 | $7.34 Billion | +5.18% |
| 2012-12-31 | $6.97 Billion | +1.43% |
| 2011-12-31 | $6.88 Billion | +10.26% |
| 2010-12-31 | $6.24 Billion | +14.11% |
| 2009-12-31 | $5.47 Billion | +15.98% |
| 2008-12-31 | $4.71 Billion | -32.10% |
| 2007-12-31 | $6.94 Billion | +7.63% |
| 2006-12-31 | $6.45 Billion | -0.17% |
| 2005-12-31 | $6.46 Billion | +16.94% |
| 2004-12-31 | $5.52 Billion | +13.50% |
| 2003-12-31 | $4.87 Billion | +10.07% |
| 2002-12-31 | $4.42 Billion | +10.16% |
| 2001-12-31 | $4.01 Billion | +16.29% |
| 2000-12-31 | $3.45 Billion | +21.64% |
| 1999-12-31 | $2.84 Billion | +18.34% |
| 1998-12-31 | $2.40 Billion | +19.36% |
| 1997-12-31 | $2.01 Billion | +21.88% |
| 1996-12-31 | $1.65 Billion | +15.48% |
| 1995-12-31 | $1.43 Billion | +15.22% |
| 1994-12-31 | $1.24 Billion | +17.53% |
| 1993-12-31 | $1.05 Billion | +23.38% |
| 1992-12-31 | $854.30 Million | +35.93% |
| 1991-12-31 | $628.50 Million | +3.90% |
| 1990-12-31 | $604.90 Million | +3.00% |
| 1989-12-31 | $587.30 Million | +3.51% |
| 1988-12-31 | $567.40 Million | +10.32% |
| 1987-12-31 | $514.30 Million | +0.47% |
| 1986-12-31 | $511.90 Million | +9.85% |
| 1985-12-31 | $466.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Southwest Airlines Company's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 6237.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $16.39 Billion | 205.34% |
| Common Stock | $888.00 Million | 11.13% |
| Other Comprehensive Income | $-24.00 Million | -0.30% |
| Total Equity | $7.98 Billion | 100.00% |
Southwest Airlines Company Competitors by Market Cap
The table below lists competitors of Southwest Airlines Company ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Credicorp Ltd
NYSE:BAP
|
$18.04 Billion |
|
Vodafone Group PLC
PINK:VODPF
|
$18.08 Billion |
|
Northern Star Resources Limited
F:NS7
|
$18.08 Billion |
|
Royalty Pharma Plc
NASDAQ:RPRX
|
$18.10 Billion |
|
Daimler Truck Holding AG
PINK:DTGHF
|
$18.01 Billion |
|
Brambles Limited
PINK:BMBLF
|
$17.99 Billion |
|
Illumina Inc
NASDAQ:ILMN
|
$17.97 Billion |
|
Federal National Mortgage Association Pref F
OTCQB:FNMAP
|
$17.95 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Southwest Airlines Company's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 10,350,000,000 to 7,981,000,000, a change of -2,369,000,000 (-22.9%).
- Net income of 441,000,000 contributed positively to equity growth.
- Dividend payments of 399,000,000 reduced retained earnings.
- Share repurchases of 2,550,000,000 reduced equity.
- Other comprehensive income increased equity by 1,000,000.
- Other factors increased equity by 138,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $441.00 Million | +5.53% |
| Dividends Paid | $399.00 Million | -5.0% |
| Share Repurchases | $2.55 Billion | -31.95% |
| Other Comprehensive Income | $1.00 Million | +0.01% |
| Other Changes | $138.00 Million | +1.73% |
| Total Change | $- | -22.89% |
Book Value vs Market Value Analysis
This analysis compares Southwest Airlines Company's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.87x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 59.63x to 2.87x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $0.69 | $41.12 | x |
| 1986-12-31 | $0.72 | $41.12 | x |
| 1987-12-31 | $0.76 | $41.12 | x |
| 1988-12-31 | $0.78 | $41.12 | x |
| 1989-12-31 | $0.82 | $41.12 | x |
| 1990-12-31 | $0.90 | $41.12 | x |
| 1991-12-31 | $0.93 | $41.12 | x |
| 1992-12-31 | $1.24 | $41.12 | x |
| 1993-12-31 | $1.43 | $41.12 | x |
| 1994-12-31 | $1.66 | $41.12 | x |
| 1995-12-31 | $1.95 | $41.12 | x |
| 1996-12-31 | $2.12 | $41.12 | x |
| 1997-12-31 | $2.62 | $41.12 | x |
| 1998-12-31 | $3.02 | $41.12 | x |
| 1999-12-31 | $3.52 | $41.12 | x |
| 2000-12-31 | $4.36 | $41.12 | x |
| 2001-12-31 | $4.95 | $41.12 | x |
| 2002-12-31 | $4.40 | $41.12 | x |
| 2003-12-31 | $6.25 | $41.12 | x |
| 2004-12-31 | $6.71 | $41.12 | x |
| 2005-12-31 | $8.27 | $41.12 | x |
| 2006-12-31 | $7.88 | $41.12 | x |
| 2007-12-31 | $9.04 | $41.12 | x |
| 2008-12-31 | $6.70 | $41.12 | x |
| 2009-12-31 | $7.38 | $41.12 | x |
| 2010-12-31 | $8.35 | $41.12 | x |
| 2011-12-31 | $8.87 | $41.12 | x |
| 2012-12-31 | $9.20 | $41.12 | x |
| 2013-12-31 | $10.22 | $41.12 | x |
| 2014-12-31 | $9.73 | $41.12 | x |
| 2015-12-31 | $11.00 | $41.12 | x |
| 2016-12-31 | $13.33 | $41.12 | x |
| 2017-12-31 | $17.30 | $41.12 | x |
| 2018-12-31 | $17.17 | $41.12 | x |
| 2019-12-31 | $18.24 | $41.12 | x |
| 2020-12-31 | $15.71 | $41.12 | x |
| 2021-12-31 | $17.10 | $41.12 | x |
| 2022-12-31 | $16.65 | $41.12 | x |
| 2023-12-31 | $16.43 | $41.12 | x |
| 2024-12-31 | $16.10 | $41.12 | x |
| 2025-12-31 | $14.30 | $41.12 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Southwest Airlines Company utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.53%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.57%
- • Asset Turnover: 0.97x
- • Equity Multiplier: 3.64x
- Recent ROE (5.53%) is below the historical average (10.56%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 10.15% | 6.96% | 0.66x | 2.19x | $700.00K |
| 1986 | 9.77% | 6.61% | 0.70x | 2.11x | $-1.19 Million |
| 1987 | 3.93% | 2.64% | 0.73x | 2.03x | $-31.23 Million |
| 1988 | 10.22% | 6.74% | 0.66x | 2.31x | $1.26 Million |
| 1989 | 12.19% | 7.05% | 0.72x | 2.41x | $12.87 Million |
| 1990 | 7.79% | 3.97% | 0.81x | 2.43x | $-13.39 Million |
| 1991 | 4.28% | 2.05% | 0.72x | 2.92x | $-35.95 Million |
| 1992 | 12.12% | 6.14% | 0.73x | 2.68x | $18.07 Million |
| 1993 | 16.09% | 7.38% | 0.89x | 2.44x | $64.20 Million |
| 1994 | 14.48% | 6.92% | 0.92x | 2.28x | $55.46 Million |
| 1995 | 12.80% | 6.36% | 0.88x | 2.28x | $39.89 Million |
| 1996 | 12.58% | 6.09% | 0.91x | 2.26x | $42.51 Million |
| 1997 | 15.82% | 8.33% | 0.90x | 2.11x | $116.87 Million |
| 1998 | 18.08% | 10.41% | 0.88x | 1.97x | $193.64 Million |
| 1999 | 16.73% | 10.02% | 0.84x | 1.99x | $190.80 Million |
| 2000 | 17.47% | 10.68% | 0.85x | 1.93x | $257.96 Million |
| 2001 | 12.73% | 9.20% | 0.62x | 2.24x | $109.74 Million |
| 2002 | 5.45% | 4.36% | 0.62x | 2.03x | $-201.19 Million |
| 2003 | 8.75% | 7.44% | 0.61x | 1.92x | $-63.20 Million |
| 2004 | 5.67% | 4.79% | 0.58x | 2.05x | $-239.40 Million |
| 2005 | 8.21% | 7.23% | 0.54x | 2.10x | $-119.50 Million |
| 2006 | 7.74% | 5.49% | 0.68x | 2.09x | $-145.90 Million |
| 2007 | 9.29% | 6.54% | 0.59x | 2.42x | $-49.10 Million |
| 2008 | 3.59% | 1.61% | 0.78x | 2.84x | $-317.30 Million |
| 2009 | 1.81% | 0.96% | 0.73x | 2.61x | $-447.60 Million |
| 2010 | 7.36% | 3.79% | 0.78x | 2.48x | $-164.70 Million |
| 2011 | 2.59% | 1.14% | 0.87x | 2.63x | $-509.70 Million |
| 2012 | 6.04% | 2.46% | 0.92x | 2.67x | $-275.60 Million |
| 2013 | 10.28% | 4.26% | 0.91x | 2.64x | $20.40 Million |
| 2014 | 16.77% | 6.11% | 0.94x | 2.91x | $458.50 Million |
| 2015 | 29.64% | 11.00% | 0.93x | 2.90x | $1.45 Billion |
| 2016 | 26.58% | 10.99% | 0.88x | 2.76x | $1.40 Billion |
| 2017 | 33.44% | 16.48% | 0.84x | 2.41x | $2.44 Billion |
| 2018 | 25.02% | 11.22% | 0.84x | 2.66x | $1.48 Billion |
| 2019 | 23.39% | 10.26% | 0.87x | 2.63x | $1.32 Billion |
| 2020 | -34.63% | -33.97% | 0.26x | 3.90x | $-3.96 Billion |
| 2021 | 9.38% | 6.19% | 0.43x | 3.49x | $-64.40 Million |
| 2022 | 5.04% | 2.26% | 0.67x | 3.31x | $-529.70 Million |
| 2023 | 4.42% | 1.78% | 0.72x | 3.47x | $-586.50 Million |
| 2024 | 4.49% | 1.69% | 0.81x | 3.26x | $-570.00 Million |
| 2025 | 5.53% | 1.57% | 0.97x | 3.64x | $-357.10 Million |
Industry Comparison
This section compares Southwest Airlines Company's net assets metrics with peer companies in the Airlines industry.
Industry Context
- Industry: Airlines
- Average net assets among peers: $84,221,809,251
- Average return on equity (ROE) among peers: 148.93%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Southwest Airlines Company (LUV) | $7.98 Billion | 10.15% | 2.64x | $18.03 Billion |
| American Airlines Group (AAL) | $-581.00 Million | 0.00% | 0.00x | $6.80 Billion |
| Air Canada (ACDVF) | $2.59 Billion | 24.86% | 11.05x | $2.83 Billion |
| Grupo Aeroméxico, S.A.B. de C.V. (AERO) | $-730.83 Million | 0.00% | 0.00x | $260.71 Million |
| Air France-KLM SA (AFRAF) | $-5.42 Billion | 0.00% | 0.00x | $1.02 Billion |
| Aegean Airlines S.A (AGZNF) | $277.88 Million | 24.44% | 1.61x | $461.90 Million |
| AirAsia Group Berhad (AIABF) | $935.30 Million | 1390.41% | 6.89x | $418.10 Million |
| Air China Limited (AICAF) | $49.50 Billion | 15.10% | 2.50x | $2.97 Billion |
| Allegiant Travel Company (ALGT) | $401.72 Million | 19.56% | 0.99x | $1.25 Billion |
| Alaska Air Group Inc (ALK) | $340.50 Million | 5.05% | 2.00x | $4.48 Billion |
| ANA Holdings Inc (ALNPF) | $794.90 Billion | 9.83% | 1.80x | $7.63 Billion |