Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the debt to assets ratio high or low?
The debt to assets ratio of 22.87% is 13% below its 5-year average of 26.28%, near the low end of its 5-year range (18.57%–34.81%).
As of the fiscal period ended Tuesday, June 30, 2026. 11.66% above its 12-month average of 20.48%.
Reported quarterly debt to assets ratio; no daily interpolation.
DEBT TO ASSETS RATIO
22.87%
DEBT TO ASSETS RATIO AVG TTM
20.48%
DEBT TO ASSETS RATIO AVG 3Y
23.33%
DEBT TO ASSETS RATIO AVG 5Y
25.40%
DEBT TO ASSETS RATIO AVG 10Y
22.71%
DEBT TO ASSETS RATIO AVG 15Y
20.48%
DEBT TO ASSETS RATIO AVG 20Y
19.86%
CURRENT VS TTM AVG
+11.66%
CURRENT VS 3Y AVG
-1.99%
CURRENT VS 5Y AVG
-9.97%
CURRENT VS 10Y AVG
+0.70%
CURRENT VS 15Y AVG
+11.66%
CURRENT VS 20Y AVG
+15.16%
SECTOR MEDIAN · INDUSTRIALS
0.28%
median of 128 covered companies
CURRENT VS SECTOR MEDIAN
+8067.97%
vs the sector median at left
Southwest Airlines Co.
Market Cap
$23.02B
Debt to Assets Ratio
22.87%
TTM Avg
20.48%
3Y Avg
23.33%
5Y Avg
25.40%
Market Cap
$23.37B
Debt to Assets Ratio
0.11%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$25.22B
Debt to Assets Ratio
0.14%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$25.55B
Debt to Assets Ratio
0.22%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
| NAME | MARKET CAP | DEBT TO ASSETS RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Southwest Airlines Co. (LUV) | $23.02B | 22.87% | 20.48% | 23.33% | 25.40% |
| Expeditors International of Washington, Inc. (EXPD)vs › | $23.37B | 0.11% | N/A | N/A | N/A |
| XPO Logistics, Inc. (XPO)vs › | $23.72B | 0.48% | N/A | N/A | N/A |
| Veralto Corporation (VLTO)vs › | $23.97B | 0.39% | N/A | N/A | N/A |
| MasTec, Inc. (MTZ)vs › | $21.88B | 0.30% | N/A | N/A | N/A |
| Snap-on Incorporated (SNA)vs › | $21.54B | 0.15% | N/A | N/A | N/A |
| Equifax Inc. (EFX)vs › | $21.45B | 0.46% | N/A | N/A | N/A |
| J.B. Hunt Transport Services, Inc. (JBHT)vs › | $25.22B | 0.14% | N/A | N/A | N/A |
| Curtiss-Wright Corporation (CW)vs › | $25.55B | 0.22% | N/A | N/A | N/A |
| Symbotic Inc. (SYM)vs › | $25.78B | N/A | N/A | N/A | N/A |
Debt/Assets
22.9%
Debt/Equity
0.97
Current Ratio
0.49
Interest Coverage
3.8x
Formula: Debt/Assets = Total Debt / Total Assets × 100
Debt/Assets vs Debt/Equity:
Industry context matters: Capital-intensive industries (utilities, real estate) typically have higher Debt/Assets ratios than tech companies.
Debt/Assets ratio shows what percentage of a company's assets are financed by debt. Compare the current value with the historical chart and peer group to understand leverage over time.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | DEBT TO ASSETS RATIO |
|---|---|
| 2026-06-30 | 22.87% |
| 2026-03-31 | 21.79% |
| 2025-12-31 | 20.58% |
| 2025-09-30 | 18.57% |
| 2025-06-30 | 18.60% |
| 2025-03-31 | 24.07% |
| 2024-12-31 | 23.88% |
| 2024-09-30 | 26.10% |
| 2024-06-30 | 25.61% |
| 2024-03-31 | 25.43% |
| 2023-12-31 | 25.21% |
| 2023-09-30 | 25.08% |
| 2023-06-30 | 25.54% |
| 2023-03-31 | 26.38% |
| 2022-12-31 | 26.78% |
| 2022-09-30 | 28.13% |
| 2022-06-30 | 31.33% |
| 2022-03-31 | 32.85% |
| 2021-12-31 | 33.81% |
| 2021-09-30 | 34.53% |
| 2021-06-30 | 34.81% |
| 2021-03-31 | 36.02% |
| 2020-12-31 | 35.27% |
| 2020-09-30 | 35.37% |
| 2020-06-30 | 32.09% |
| 2020-03-31 | 23.62% |
| 2019-12-31 | 15.43% |
| 2019-09-30 | 16.55% |
| 2019-06-30 | 17.16% |
| 2019-03-31 | 17.70% |
| 2018-12-31 | 12.87% |
| 2018-09-30 | 12.82% |
| 2018-06-30 | 13.30% |
| 2018-03-31 | 14.08% |
| 2017-12-31 | 14.61% |
| 2017-09-30 | 12.70% |
| 2017-06-30 | 12.94% |
| 2017-03-31 | 12.90% |
| 2016-12-31 | 14.55% |
| 2016-09-30 | 14.30% |
| 2016-06-30 | 14.94% |
| 2016-03-31 | 14.87% |
| 2015-12-31 | 14.91% |
| 2015-09-30 | 12.61% |
| 2015-06-30 | 12.75% |
| 2015-03-31 | 12.70% |
| 2014-12-31 | 13.65% |
| 2014-09-30 | 13.30% |
| 2014-06-30 | 13.20% |
| 2014-03-31 | 14.09% |
| 2013-12-31 | 14.58% |
| 2013-09-30 | 14.85% |
| 2013-06-30 | 15.14% |
| 2013-03-31 | 15.56% |
| 2012-12-31 | 16.96% |
| 2012-09-30 | 17.15% |
| 2012-06-30 | 17.69% |
| 2012-03-31 | 17.57% |
| 2011-12-31 | 20.76% |
| 2011-09-30 | 23.52% |
| 2011-06-30 | 22.34% |
| 2011-03-31 | 20.31% |
| 2010-12-31 | 21.86% |
| 2010-09-30 | 22.87% |
| 2010-06-30 | 23.00% |
| 2010-03-31 | 23.92% |
| 2009-12-31 | 24.63% |
| 2009-09-30 | 25.36% |
| 2009-06-30 | 24.12% |
| 2009-03-31 | 25.46% |
| 2008-12-31 | 26.02% |
| 2008-09-30 | 14.59% |
| 2008-06-30 | 11.44% |
| 2008-03-31 | 11.75% |
| 2007-12-31 | 12.47% |
| 2007-09-30 | 10.87% |
| 2007-06-30 | 11.05% |
| 2007-03-31 | 11.79% |
| 2006-12-31 | 12.55% |
| 2006-09-30 | 13.20% |
| 2006-06-30 | 11.95% |
| 2006-03-31 | 13.19% |
| 2005-12-31 | 14.25% |
| 2005-09-30 | 13.63% |
| 2005-06-30 | 14.57% |
| 2005-03-31 | 15.09% |
| 2004-12-31 | 16.28% |
| 2004-09-30 | 16.39% |
| 2004-06-30 | 14.39% |
| 2004-03-31 | 15.35% |
| 2003-12-31 | 15.87% |
| 2003-09-30 | 17.07% |
| 2003-06-30 | 17.34% |
| 2003-03-31 | 18.44% |
| 2002-12-31 | 18.81% |
| 2002-09-30 | 18.88% |
