Southwest Airlines Company Working Capital to Net Assets Ratio
Southwest Airlines Company working capital to net assets ratio. Southwest Airlines Company (LUV) has a Working Capital to Net Assets ratio of -94.8% as of March 2026. Working capital of $-6.51 Billion (current assets of $5.97 Billion minus current liabilities of $12.48 Billion) is measured against net assets of $6.88 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Working Capital to Net Assets Ratio of Southwest Airlines Company (1985–2025)
Working capital to net assets ratio of Southwest Airlines Company from 1985 to 2025. This chart shows how Southwest Airlines Company's Working Capital to Net Assets ratio has evolved across 41 annual periods from 1985 to 2025. As of March 2026, the ratio stands at -94.8%, reflecting working capital of $-6.51 Billion against net assets of $6.88 Billion USD. Explore Southwest Airlines Company (LUV) investment intensity to see how much of total assets are deployed in long-term investments.
Southwest Airlines Company Working Capital to Net Assets Ratio by Year (1985–2025)
Southwest Airlines Company working capital to net assets ratio by year from 1985 to 2025. The table below presents the year-by-year Working Capital to Net Assets ratio for Southwest Airlines Company from 1985 to 2025, covering 41 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For the complete balance sheet picture, see Southwest Airlines Company total assets.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -66.1% | $-5.28 Billion | $7.98 Billion | $5.64 Billion | $10.92 Billion | ▼ -56.4 pp |
| 2024 | -9.7% | $-1.00 Billion | $10.35 Billion | $11.27 Billion | $12.28 Billion | ▼ -25.8 pp |
| 2023 | 16.2% | $1.70 Billion | $10.52 Billion | $13.96 Billion | $12.26 Billion | ▼ -25.3 pp |
| 2022 | 41.5% | $4.43 Billion | $10.69 Billion | $14.81 Billion | $10.38 Billion | ▼ -43.7 pp |
| 2021 | 85.2% | $8.87 Billion | $10.41 Billion | $18.04 Billion | $9.16 Billion | ▼ -1.2 pp |
| 2020 | 86.4% | $7.67 Billion | $8.88 Billion | $15.17 Billion | $7.51 Billion | ▲ +116.7 pp |
| 2019 | -30.3% | $-2.98 Billion | $9.83 Billion | $5.97 Billion | $8.95 Billion | ▼ -1.1 pp |
| 2018 | -29.2% | $-2.88 Billion | $9.85 Billion | $5.03 Billion | $7.91 Billion | ▼ -9.2 pp |
| 2017 | -20.0% | $-2.09 Billion | $10.43 Billion | $4.82 Billion | $6.91 Billion | ▲ +7.8 pp |
| 2016 | -27.8% | $-2.35 Billion | $8.44 Billion | $4.50 Billion | $6.84 Billion | ▲ +18.2 pp |
| 2015 | -46.0% | $-3.38 Billion | $7.36 Billion | $4.02 Billion | $7.41 Billion | ▼ -20.2 pp |
| 2014 | -25.7% | $-1.66 Billion | $6.43 Billion | $4.27 Billion | $5.92 Billion | ▼ -9.1 pp |
| 2013 | -16.6% | $-1.22 Billion | $7.34 Billion | $4.46 Billion | $5.68 Billion | ▼ -10.4 pp |
| 2012 | -6.2% | $-432.00 Million | $6.97 Billion | $4.22 Billion | $4.65 Billion | ▼ -3.5 pp |
| 2011 | -2.7% | $-188.00 Million | $6.88 Billion | $4.34 Billion | $4.53 Billion | ▼ -18.4 pp |
| 2010 | 15.6% | $974.00 Million | $6.24 Billion | $4.28 Billion | $3.31 Billion | ▲ +3.1 pp |
| 2009 | 12.5% | $682.00 Million | $5.47 Billion | $3.36 Billion | $2.68 Billion | ▲ +10.6 pp |
| 2008 | 1.8% | $87.00 Million | $4.71 Billion | $2.89 Billion | $2.81 Billion | ▲ +7.5 pp |
| 2007 | -5.7% | $-395.00 Million | $6.94 Billion | $4.44 Billion | $4.84 Billion | ▼ -1.3 pp |
| 2006 | -4.4% | $-286.00 Million | $6.45 Billion | $2.60 Billion | $2.89 Billion | ▼ -0.9 pp |
| 2005 | -3.5% | $-228.00 Million | $6.46 Billion | $3.62 Billion | $3.85 Billion | ▼ -4.1 pp |
| 2004 | 0.5% | $30.00 Million | $5.52 Billion | $2.17 Billion | $2.14 Billion | ▼ -11.6 pp |
| 2003 | 12.1% | $590.00 Million | $4.87 Billion | $2.31 Billion | $1.72 Billion | ▼ -5.9 pp |
| 2002 | 18.0% | $798.13 Million | $4.42 Billion | $2.23 Billion | $1.43 Billion | ▲ +11.0 pp |
| 2001 | 7.0% | $281.03 Million | $4.01 Billion | $2.52 Billion | $2.24 Billion | ▲ +20.5 pp |
| 2000 | -13.5% | $-466.87 Million | $3.45 Billion | $831.54 Million | $1.30 Billion | ▼ -1.9 pp |
| 1999 | -11.6% | $-329.46 Million | $2.84 Billion | $631.00 Million | $960.47 Million | ▼ -0.1 pp |
| 1998 | -11.5% | $-276.50 Million | $2.40 Billion | $574.15 Million | $850.65 Million | ▼ -8.4 pp |
| 1997 | -3.1% | $-62.10 Million | $2.01 Billion | $806.42 Million | $868.51 Million | ▼ -2.2 pp |
| 1996 | -0.9% | $-14.41 Million | $1.65 Billion | $750.99 Million | $765.40 Million | ▲ +8.8 pp |
| 1995 | -9.6% | $-137.49 Million | $1.43 Billion | $473.14 Million | $610.62 Million | ▲ +7.1 pp |
| 1994 | -16.7% | $-207.37 Million | $1.24 Billion | $314.90 Million | $522.27 Million | ▼ -12.3 pp |
| 1993 | -4.4% | $-46.60 Million | $1.05 Billion | $432.00 Million | $478.60 Million | ▼ -20.5 pp |
| 1992 | 16.1% | $137.70 Million | $854.30 Million | $506.10 Million | $368.40 Million | ▲ +3.4 pp |
| 1991 | 12.7% | $80.10 Million | $628.50 Million | $340.00 Million | $259.90 Million | ▲ +23.9 pp |
| 1990 | -11.2% | $-67.60 Million | $604.90 Million | $157.80 Million | $225.40 Million | ▼ -12.5 pp |
| 1989 | 1.4% | $8.00 Million | $587.30 Million | $203.90 Million | $195.90 Million | ▼ -18.4 pp |
| 1988 | 19.8% | $112.10 Million | $567.40 Million | $265.00 Million | $152.90 Million | ▲ +2.5 pp |
| 1987 | 17.3% | $88.80 Million | $514.30 Million | $201.10 Million | $112.30 Million | ▲ +8.4 pp |
| 1986 | 8.8% | $45.20 Million | $511.90 Million | $128.00 Million | $82.80 Million | ▼ -1.0 pp |
| 1985 | 9.9% | $46.00 Million | $466.00 Million | $117.90 Million | $71.90 Million | — |