Southwest Airlines (LUV) Operating Margin: History & Chart

Southwest Airlines Co.(LUV)

Airlines, Airports & Air Services · Dallas, TX

$42.08+0.31 (+0.74%)

Delayed quote: Sep 22, 2026, 4:00 PM EDT

About Southwest Airlines Co.

Southwest Airlines Co. functions as a passenger airline, offering scheduled air travel services predominantly across the United States and to select neighboring international markets. As of December 31, 2021, the company maintained a consistent fleet of 728 Boeing 737 aircraft. Its extensive route network served 121 different locations, spanning 42 U.S. states, the District of Columbia, and the Commonwealth of Puerto Rico, along with 10 international countries close by. These international destinations include Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos. To enhance the passenger journey, Southwest provides in-flight entertainment and internet access on its Wi-Fi-enabled planes. The airline also runs the Rapid Rewards loyalty program, enabling members to accumulate points proportional to the money spent on Southwest's base fares. For customer convenience in travel planning, the company offers a range of digital tools, including its official websites and mobile applications, as well as SWABIZ, a dedicated online booking platform for business clients. Additional services available include EarlyBird Check-In, preferred boarding options, and transportation for pets and unaccompanied minors. The company was founded in 1967 and its corporate headquarters are situated in Dallas, Texas.

Dallas, TX

73,456 employees

www.southwest.com

Industrials / Airlines, Airports & Air Services

Sector: Industrials
Industry: Airlines, Airports & Air Services
CEO: Robert E. Jordan

View full financials

LUV Operating Margin Metrics

OPERATING MARGIN

3.46%

OPERATING MARGIN AVG TTM

3.36%

OPERATING MARGIN AVG 3Y

2.51%

OPERATING MARGIN AVG 5Y

3.23%

OPERATING MARGIN AVG 10Y

7.98%

OPERATING MARGIN AVG 15Y

8.76%

OPERATING MARGIN AVG 20Y

8.15%

CURRENT VS TTM AVG

+3.00%

CURRENT VS 3Y AVG

+37.87%

CURRENT VS 5Y AVG

+7.26%

CURRENT VS 10Y AVG

-56.66%

CURRENT VS 15Y AVG

-60.52%

CURRENT VS 20Y AVG

-57.55%

SECTOR MEDIAN · INDUSTRIALS

11.95%

median of 154 covered companies

CURRENT VS SECTOR MEDIAN

-71.03%

vs the sector median at left

NAME	MARKET CAP	OPERATING MARGIN	TTM	3Y	5Y
Southwest Airlines Co. (LUV)	$20.59B	3.46%	3.36%	2.51%	3.23%
XPO Logistics, Inc. (XPO)vs ›	$20.80B	9.83%	8.56%	6.91%	5.59%
Curtiss-Wright Corporation (CW)vs ›	$20.33B	18.85%	17.59%	17.19%	15.99%
Snap-on Incorporated (SNA)vs ›	$19.23B	23.78%	25.75%	25.91%	25.40%
MTU Aero Engines AG (MTUAY)vs ›	$22.11B	15.11%	13.50%	6.89%	6.22%
J.B. Hunt Transport Services, Inc. (JBHT)vs ›	$22.30B	7.52%	7.04%	7.71%	7.80%
Equifax Inc. (EFX)vs ›	$18.77B	17.85%	18.19%	18.68%	19.04%
Veralto Corporation (VLTO)vs ›	$23.35B	22.74%	23.23%	23.00%	22.67%
Nordson Corporation (NDSN)vs ›	$17.81B	26.88%	25.50%	25.93%	24.37%
MasTec, Inc. (MTZ)vs ›	$17.80B	5.79%	4.05%	2.67%	2.65%

NAME

MARKET CAP

OPERATING MARGIN

TTM

Southwest Airlines Co. (LUV)

$20.59B

3.46%

3.36%

2.51%

3.23%

XPO Logistics, Inc. (XPO)vs ›

$20.80B

9.83%

8.56%

6.91%

5.59%

Curtiss-Wright Corporation (CW)vs ›

$20.33B

18.85%

17.59%

17.19%

15.99%

Snap-on Incorporated (SNA)vs ›

$19.23B

23.78%

25.75%

25.91%

25.40%

MTU Aero Engines AG (MTUAY)vs ›

$22.11B

15.11%

13.50%

6.89%

6.22%

J.B. Hunt Transport Services, Inc. (JBHT)vs ›

$22.30B

7.52%

7.04%

7.71%

7.80%

Equifax Inc. (EFX)vs ›

$18.77B

17.85%

18.19%

18.68%

19.04%

Veralto Corporation (VLTO)vs ›

$23.35B

22.74%

23.23%

23.00%

22.67%

Nordson Corporation (NDSN)vs ›

$17.81B

26.88%

25.50%

25.93%

24.37%

MasTec, Inc. (MTZ)vs ›

$17.80B

5.79%

4.05%

2.67%

2.65%

Operating Margin FAQ

What is the operating margin for Southwest Airlines Co. (LUV)?

The operating margin for LUV stock is 3.46%.

Is Southwest Airlines Co.'s operating margin high or low?

The operating margin of 3.46% is in line with its 5-year average of 3.23%, around the middle of its 5-year range (-6.24%–17.21%).

What is the TTM average operating margin for Southwest Airlines Co. (LUV)?

The TTM average operating margin for LUV stock is 3.36%.

What is the 3Y average operating margin for Southwest Airlines Co. (LUV)?

The 3Y average operating margin for LUV stock is 2.51%.

What is the 5Y average operating margin for Southwest Airlines Co. (LUV)?

The 5Y average operating margin for LUV stock is 3.23%.

What is the 10Y average operating margin for Southwest Airlines Co. (LUV)?

The 10Y average operating margin for LUV stock is 7.98%.

What is the 15Y average operating margin for Southwest Airlines Co. (LUV)?

The 15Y average operating margin for LUV stock is 8.76%.

What is the 20Y average operating margin for Southwest Airlines Co. (LUV)?

The 20Y average operating margin for LUV stock is 8.15%.

DATE	OPERATING MARGIN
2026-06-30	3.38%
2026-03-31	4.55%
2025-12-31	5.25%
2025-09-30	0.50%
2025-06-30	3.11%
2025-03-31	-3.47%
2024-12-31	4.01%
2024-09-30	0.55%
2024-06-30	5.41%
2024-03-31	-6.21%
2023-12-31	-5.92%
2023-09-30	1.79%
2023-06-30	11.30%
2023-03-31	-4.98%
2022-12-31	-6.24%
2022-09-30	6.35%
2022-06-30	17.21%
2022-03-31	-3.22%
2021-12-31	3.86%
2021-09-30	15.67%
2021-06-30	14.82%
2021-03-31	9.70%
2020-12-31	-58.02%
2020-09-30	-78.69%
2020-06-30	-111.81%
2020-03-31	-2.60%
2019-12-31	11.61%
2019-09-30	14.52%
2019-06-30	16.38%
2019-03-31	9.81%
2018-12-31	14.38%
2018-09-30	14.31%
2018-06-30	16.93%
2018-03-31	12.46%
2017-12-31	14.66%
2017-09-30	16.03%
2017-06-30	21.15%
2017-03-31	12.41%
2016-12-31	16.65%
2016-09-30	13.52%
2016-06-30	23.70%
2016-03-31	19.56%
2015-12-31	20.61%
2015-09-30	23.03%
2015-06-30	21.23%
2015-03-31	17.67%
2014-12-31	13.40%
2014-09-30	12.79%
2014-06-30	15.47%
2014-03-31	5.16%
2013-12-31	8.69%
2013-09-30	8.58%
2013-06-30	9.33%
2013-03-31	1.71%
2012-12-31	2.18%
2012-09-30	1.18%
2012-06-30	9.97%
2012-03-31	0.55%
2011-12-31	3.58%
2011-09-30	5.22%
2011-06-30	5.00%
2011-03-31	3.67%
2010-12-31	6.94%
2010-09-30	11.12%
2010-06-30	11.46%
2010-03-31	2.05%
2009-12-31	6.16%
2009-09-30	0.83%
2009-06-30	4.70%
2009-03-31	-2.12%
2008-12-31	2.52%
2008-09-30	2.97%
2008-06-30	7.15%
2008-03-31	3.48%
2007-12-31	5.10%
2007-09-30	9.70%
2007-06-30	12.70%
2007-03-31	3.82%
2006-12-31	7.64%
2006-09-30	11.14%
2006-06-30	16.41%
2006-03-31	4.85%
2005-12-31	8.25%
2005-09-30	12.47%
2005-06-30	13.17%
2005-03-31	4.87%
2004-12-31	7.19%
2004-09-30	11.41%
2004-06-30	11.48%
2004-03-31	3.10%
2003-12-31	7.32%
2003-09-30	11.91%
2003-06-30	9.24%
2003-03-31	3.40%
2002-12-31	6.27%
2002-09-30	6.55%

DATE

OPERATING MARGIN

2026-06-30

3.38%

2026-03-31

4.55%

2025-12-31

5.25%

2025-09-30

0.50%

2025-06-30

3.11%

2025-03-31

-3.47%

2024-12-31

4.01%

2024-09-30

0.55%

2024-06-30

5.41%

2024-03-31

-6.21%

2023-12-31

-5.92%

2023-09-30

1.79%

2023-06-30

11.30%

2023-03-31

-4.98%

2022-12-31

-6.24%

2022-09-30

6.35%

2022-06-30

17.21%

2022-03-31

-3.22%

2021-12-31

3.86%

2021-09-30

15.67%

2021-06-30

14.82%

2021-03-31

9.70%

2020-12-31

-58.02%

2020-09-30

-78.69%

2020-06-30

-111.81%

2020-03-31

-2.60%

2019-12-31

11.61%

2019-09-30

14.52%

2019-06-30

16.38%

2019-03-31

9.81%

2018-12-31

14.38%

2018-09-30

14.31%

2018-06-30

16.93%

2018-03-31

12.46%

2017-12-31

14.66%

2017-09-30

16.03%

2017-06-30

21.15%

2017-03-31

12.41%

2016-12-31

16.65%

2016-09-30

13.52%

2016-06-30

23.70%

2016-03-31

19.56%

2015-12-31

20.61%

2015-09-30

23.03%

2015-06-30

21.23%

2015-03-31

17.67%

2014-12-31

13.40%

2014-09-30

12.79%

2014-06-30

15.47%

2014-03-31

5.16%

2013-12-31

8.69%

2013-09-30

8.58%

2013-06-30

9.33%

2013-03-31

1.71%

2012-12-31

2.18%

2012-09-30

1.18%

2012-06-30

9.97%

2012-03-31

0.55%

2011-12-31

3.58%

2011-09-30

5.22%

2011-06-30

5.00%

2011-03-31

3.67%

2010-12-31

6.94%

2010-09-30

11.12%

2010-06-30

11.46%

2010-03-31

2.05%

2009-12-31

6.16%

2009-09-30

0.83%

2009-06-30

4.70%

2009-03-31

-2.12%

2008-12-31

2.52%

2008-09-30

2.97%

2008-06-30

7.15%

2008-03-31

3.48%

2007-12-31

5.10%

2007-09-30

9.70%

2007-06-30

12.70%

2007-03-31

3.82%

2006-12-31

7.64%

2006-09-30

11.14%

2006-06-30

16.41%

2006-03-31

4.85%

2005-12-31

8.25%

2005-09-30

12.47%

2005-06-30

13.17%

2005-03-31

4.87%

2004-12-31

7.19%

2004-09-30

11.41%

2004-06-30

11.48%

2004-03-31

3.10%

2003-12-31

7.32%

2003-09-30

11.91%

2003-06-30

9.24%

2003-03-31

3.40%

2002-12-31

6.27%

2002-09-30

6.55%

Operating Margin: 3.46%

LUV Operating Margin

LUV Average Operating Margin Chart

LUV Current vs Average Operating Margin Chart

LUV Operating Margin Metrics

LUV Competitors' Operating Margin

Operating Efficiency

Operating Margin Formula & Definition

Operating Margin FAQ

LUV Operating Margin History

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