Southwest Airlines Company Net Assets

Latest as of March 2026: $6.88 Billion USD

Southwest Airlines Company net assets. Based on the latest financial reports, Southwest Airlines Company (LUV) has net assets worth $6.88 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($29.36 Billion) and total liabilities ($22.48 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. Also explore LUV net assets growth trend to track the company's year-over-year net asset growth rate.

Key Net Assets Metrics

Metric Value
Current Net Assets $6.88 Billion
% of Total Assets 23.42%
Annual Growth Rate 7.36%
5-Year Change -23.36%
10-Year Change -5.45%
Growth Volatility 12.78

Net Assets of Southwest Airlines Company (1985–2025)

Net assets of Southwest Airlines Company from 1985 to 2025. This chart illustrates how Southwest Airlines Company's net assets have evolved over time, based on quarterly financial data. See Southwest Airlines Company net asset quality index to measure how much of total assets are equity-financed.

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. For live market cap and overall valuation, see how much is Southwest Airlines Company worth.

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.

Southwest Airlines Company Net Assets Breakdown (December 2025)

Southwest Airlines Company net assets breakdown by equity component as of 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
Publicis Groupe SA
PA:PUB
 $20.20 Billion
S.P.E.E.H Hidroelectrica S.A.
RO:H2O
 $20.26 Billion
NRG Energy Inc.
NYSE:NRG
 $20.27 Billion
BOUYGUES UNSP.ADR 1/5/EO1
F:BYG0
 $20.29 Billion
Hyundai Mobis Co.,Ltd
KO:012330
 $20.19 Billion
MTU Aero Engines AG
XETRA:MTX
 $20.17 Billion
Bank Mandiri Persero Tbk PT
JK:BMRI
 $20.16 Billion
HEICO Corporation
NYSE:HEI-A
 $20.14 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: 2.97x
  • 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 61.52x to 2.97x 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 $42.43 x
1986-12-31 $0.72 $42.43 x
1987-12-31 $0.76 $42.43 x
1988-12-31 $0.78 $42.43 x
1989-12-31 $0.82 $42.43 x
1990-12-31 $0.90 $42.43 x
1991-12-31 $0.93 $42.43 x
1992-12-31 $1.24 $42.43 x
1993-12-31 $1.43 $42.43 x
1994-12-31 $1.66 $42.43 x
1995-12-31 $1.95 $42.43 x
1996-12-31 $2.12 $42.43 x
1997-12-31 $2.62 $42.43 x
1998-12-31 $3.02 $42.43 x
1999-12-31 $3.52 $42.43 x
2000-12-31 $4.36 $42.43 x
2001-12-31 $4.95 $42.43 x
2002-12-31 $4.40 $42.43 x
2003-12-31 $6.25 $42.43 x
2004-12-31 $6.71 $42.43 x
2005-12-31 $8.27 $42.43 x
2006-12-31 $7.88 $42.43 x
2007-12-31 $9.04 $42.43 x
2008-12-31 $6.70 $42.43 x
2009-12-31 $7.38 $42.43 x
2010-12-31 $8.35 $42.43 x
2011-12-31 $8.87 $42.43 x
2012-12-31 $9.20 $42.43 x
2013-12-31 $10.22 $42.43 x
2014-12-31 $9.73 $42.43 x
2015-12-31 $11.00 $42.43 x
2016-12-31 $13.33 $42.43 x
2017-12-31 $17.30 $42.43 x
2018-12-31 $17.17 $42.43 x
2019-12-31 $18.24 $42.43 x
2020-12-31 $15.71 $42.43 x
2021-12-31 $17.10 $42.43 x
2022-12-31 $16.65 $42.43 x
2023-12-31 $16.43 $42.43 x
2024-12-31 $16.10 $42.43 x
2025-12-31 $14.30 $42.43 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: $-719,636,731
  • Average return on equity (ROE) among peers: 10.22%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Southwest Airlines Company (LUV) $6.88 Billion 10.15% 3.27x $20.19 Billion
American Airlines Group (AAL) $-7.99 Billion 0.00% 0.00x $8.34 Billion
Grupo Aeroméxico, S.A.B. de C.V. (AERO) $-730.83 Million 0.00% 0.00x $2.18 Billion
Allegiant Travel Company (ALGT) $401.72 Million 19.56% 0.99x $1.95 Billion
Alaska Air Group Inc (ALK) $1.17 Billion 20.95% 3.45x $3.98 Billion
Copa Holdings SA (CPA) $1.04 Billion 23.23% 1.39x $3.85 Billion
Delta Air Lines Inc (DAL) $-1.40 Billion 0.00% 0.00x $52.71 Billion
flyExclusive, Inc. (FLYX) $47.42 Million 12.75% 9.42x $51.37 Million
flyExclusive, Inc. (FLYX) $210.36 Million 3.84% 0.07x $112.53 Million
Gol Linhas Aéreas Inteligentes S.A (GOLLQ) $-125.27 Million 0.00% 0.00x $33.88 Million
JetBlue Airways Corp (JBLU) $178.50 Million 21.85% 2.78x $1.06 Billion

About Southwest Airlines Company

NYSE:LUV USA Airlines
Market Cap
$20.74 Billion
Market Cap Rank
#1242 Global
#523 in USA
Share Price
$42.43
Change (1 day)
-2.86%
52-Week Range
$29.67 - $54.80
All Time High
$61.59
Categories
Companies in USA Airlines
About

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