Southwest Airlines (LUV) ROIC: History & Chart

Name: Southwest Airlines Co. (LUV) Return on Invested Capital (ROIC) — historical time series
Creator: TGMCharts

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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

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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

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LUV Return on Invested Capital (ROIC) Metrics

RETURN ON INVESTED CAPITAL (ROIC)

4.30%

RETURN ON INVESTED CAPITAL (ROIC) AVG TTM

2.65%

RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y

1.02%

RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y

2.11%

RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y

5.71%

RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y

6.24%

RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y

6.08%

CURRENT VS TTM AVG

+61.98%

CURRENT VS 3Y AVG

+322.08%

CURRENT VS 5Y AVG

+103.17%

CURRENT VS 10Y AVG

-24.73%

CURRENT VS 15Y AVG

-31.15%

CURRENT VS 20Y AVG

-29.37%

SECTOR MEDIAN · INDUSTRIALS

9.55%

median of 154 covered companies

CURRENT VS SECTOR MEDIAN

-55.04%

vs the sector median at left

NAME	MARKET CAP	RETURN ON INVESTED CAPITAL (ROIC)	TTM	3Y	5Y
Southwest Airlines Co. (LUV)	$20.59B	4.30%	2.65%	1.02%	2.11%
XPO Logistics, Inc. (XPO)vs ›	$20.80B	9.10%	8.09%	6.79%	5.41%
Curtiss-Wright Corporation (CW)vs ›	$20.33B	12.68%	11.36%	10.29%	9.38%
Snap-on Incorporated (SNA)vs ›	$19.23B	12.35%	13.79%	14.76%	14.83%
MTU Aero Engines AG (MTUAY)vs ›	$22.11B	12.01%	10.54%	4.76%	4.12%
J.B. Hunt Transport Services, Inc. (JBHT)vs ›	$22.30B	11.14%	8.86%	10.88%	11.43%
Equifax Inc. (EFX)vs ›	$18.77B	7.91%	7.52%	7.25%	7.45%
Veralto Corporation (VLTO)vs ›	$23.35B	14.70%	16.98%	19.04%	19.79%
Nordson Corporation (NDSN)vs ›	$17.81B	12.16%	10.14%	11.93%	11.77%
MasTec, Inc. (MTZ)vs ›	$17.80B	10.64%	6.63%	4.23%	3.79%

NAME

MARKET CAP

RETURN ON INVESTED CAPITAL (ROIC)

TTM

Southwest Airlines Co. (LUV)

$20.59B

4.30%

2.65%

1.02%

2.11%

XPO Logistics, Inc. (XPO)vs ›

$20.80B

9.10%

8.09%

6.79%

5.41%

Curtiss-Wright Corporation (CW)vs ›

$20.33B

12.68%

11.36%

10.29%

9.38%

Snap-on Incorporated (SNA)vs ›

$19.23B

12.35%

13.79%

14.76%

14.83%

MTU Aero Engines AG (MTUAY)vs ›

$22.11B

12.01%

10.54%

4.76%

4.12%

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

$22.30B

11.14%

8.86%

10.88%

11.43%

Equifax Inc. (EFX)vs ›

$18.77B

7.91%

7.52%

7.25%

7.45%

Veralto Corporation (VLTO)vs ›

$23.35B

14.70%

16.98%

19.04%

19.79%

Nordson Corporation (NDSN)vs ›

$17.81B

12.16%

10.14%

11.93%

11.77%

MasTec, Inc. (MTZ)vs ›

$17.80B

10.64%

6.63%

4.23%

3.79%

Return on Invested Capital (ROIC) Formula & Definition

ROIC = NOPAT / Invested Capital, where NOPAT = Operating Income × (1 − effective tax rate) and Invested Capital = Total Assets − (Current Liabilities − Short-Term Debt)

Return on invested capital measures the after-tax operating return a company earns on the capital invested in the business. TGMCharts computes it from reported statements: trailing-twelve-month operating income after tax, over invested capital at the latest balance sheet — total assets less the non-interest-bearing current liabilities (payables, accruals, deferred revenue) that fund them; short-term debt stays in the capital base. The tax rate is the period's own effective rate (income tax ÷ pretax income), capped at 45%; when pretax income is zero or negative, or the tax line is a net benefit, no tax is deducted — the operating figure is shown untaxed rather than adjusted by an assumed rate. Not shown for banks, insurers or funds.

Return on Invested Capital (ROIC) FAQ

What is the return on invested capital (ROIC) for Southwest Airlines Co. (LUV)?

The return on invested capital (ROIC) for LUV stock is 4.30%.

Is Southwest Airlines Co.'s return on invested capital (ROIC) high or low?

The return on invested capital (ROIC) of 4.30% is 103% above its 5-year average of 2.11%, near the high end of its 5-year range (-6.40%–5.10%).

What is the TTM average return on invested capital (ROIC) for Southwest Airlines Co. (LUV)?

The TTM average return on invested capital (ROIC) for LUV stock is 2.65%.

What is the 3Y average return on invested capital (ROIC) for Southwest Airlines Co. (LUV)?

The 3Y average return on invested capital (ROIC) for LUV stock is 1.02%.

What is the 5Y average return on invested capital (ROIC) for Southwest Airlines Co. (LUV)?

The 5Y average return on invested capital (ROIC) for LUV stock is 2.11%.

What is the 10Y average return on invested capital (ROIC) for Southwest Airlines Co. (LUV)?

The 10Y average return on invested capital (ROIC) for LUV stock is 5.71%.

What is the 15Y average return on invested capital (ROIC) for Southwest Airlines Co. (LUV)?

The 15Y average return on invested capital (ROIC) for LUV stock is 6.24%.

What is the 20Y average return on invested capital (ROIC) for Southwest Airlines Co. (LUV)?

The 20Y average return on invested capital (ROIC) for LUV stock is 6.08%.

DATE	RETURN ON INVESTED CAPITAL (ROIC)
2026-06-30	4.30%
2026-03-31	4.35%
2025-12-31	1.82%
2025-09-30	1.42%
2025-06-30	1.38%
2025-03-31	1.74%
2024-12-31	1.08%
2024-09-30	-1.49%
2024-06-30	-0.68%
2024-03-31	0.35%
2023-12-31	0.68%
2023-09-30	0.77%
2023-06-30	1.63%
2023-03-31	2.67%
2022-12-31	3.01%
2022-09-30	4.68%
2022-06-30	5.10%
2022-03-31	3.61%
2021-12-31	4.61%
2021-09-30	1.27%
2021-06-30	-6.40%
2021-03-31	-12.74%
2020-12-31	-14.02%
2020-09-30	-6.95%
2020-06-30	0.92%
2020-03-31	9.49%
2019-12-31	13.01%
2019-09-30	13.23%
2019-06-30	13.08%
2019-03-31	13.17%
2018-12-31	13.18%
2018-09-30	16.30%
2018-06-30	16.77%
2018-03-31	18.44%
2017-12-31	18.54%
2017-09-30	12.74%
2017-06-30	12.51%
2017-03-31	13.08%
2016-12-31	13.98%
2016-09-30	15.31%
2016-06-30	18.05%
2016-03-31	17.97%
2015-12-31	17.74%
2015-09-30	16.16%
2015-06-30	13.39%
2015-03-31	12.02%
2014-12-31	9.90%
2014-09-30	8.48%
2014-06-30	7.62%
2014-03-31	6.26%
2013-12-31	5.57%
2013-09-30	4.33%
2013-06-30	2.85%
2013-03-31	2.94%
2012-12-31	2.69%
2012-09-30	2.92%
2012-06-30	3.79%
2012-03-31	2.51%
2011-12-31	2.70%
2011-09-30	3.15%
2011-06-30	3.66%
2011-03-31	4.90%
2010-12-31	4.80%
2010-09-30	4.81%
2010-06-30	3.13%
2010-03-31	2.17%
2009-12-31	1.34%
2009-09-30	1.45%
2009-06-30	2.06%
2009-03-31	1.52%
2008-12-31	2.52%
2008-09-30	2.54%
2008-06-30	2.75%
2008-03-31	4.01%
2007-12-31	4.03%
2007-09-30	4.73%
2007-06-30	4.78%
2007-03-31	5.35%
2006-12-31	5.52%
2006-09-30	5.52%
2006-06-30	5.18%
2006-03-31	4.37%
2005-12-31	4.33%
2005-09-30	3.82%
2005-06-30	3.81%
2005-03-31	3.63%
2004-12-31	3.79%
2004-09-30	3.65%
2004-06-30	3.86%
2004-03-31	3.59%
2003-12-31	3.68%
2003-09-30	3.46%
2003-06-30	2.79%

DATE

RETURN ON INVESTED CAPITAL (ROIC)

2026-06-30

4.30%

2026-03-31

4.35%

2025-12-31

1.82%

2025-09-30

1.42%

2025-06-30

1.38%

2025-03-31

1.74%

2024-12-31

1.08%

2024-09-30

-1.49%

2024-06-30

-0.68%

2024-03-31

0.35%

2023-12-31

0.68%

2023-09-30

0.77%

2023-06-30

1.63%

2023-03-31

2.67%

2022-12-31

3.01%

2022-09-30

4.68%

2022-06-30

5.10%

2022-03-31

3.61%

2021-12-31

4.61%

2021-09-30

1.27%

2021-06-30

-6.40%

2021-03-31

-12.74%

2020-12-31

-14.02%

2020-09-30

-6.95%

2020-06-30

0.92%

2020-03-31

9.49%

2019-12-31

13.01%

2019-09-30

13.23%

2019-06-30

13.08%

2019-03-31

13.17%

2018-12-31

13.18%

2018-09-30

16.30%

2018-06-30

16.77%

2018-03-31

18.44%

2017-12-31

18.54%

2017-09-30

12.74%

2017-06-30

12.51%

2017-03-31

13.08%

2016-12-31

13.98%

2016-09-30

15.31%

2016-06-30

18.05%

2016-03-31

17.97%

2015-12-31

17.74%

2015-09-30

16.16%

2015-06-30

13.39%

2015-03-31

12.02%

2014-12-31

9.90%

2014-09-30

8.48%

2014-06-30

7.62%

2014-03-31

6.26%

2013-12-31

5.57%

2013-09-30

4.33%

2013-06-30

2.85%

2013-03-31

2.94%

2012-12-31

2.69%

2012-09-30

2.92%

2012-06-30

3.79%

2012-03-31

2.51%

2011-12-31

2.70%

2011-09-30

3.15%

2011-06-30

3.66%

2011-03-31

4.90%

2010-12-31

4.80%

2010-09-30

4.81%

2010-06-30

3.13%

2010-03-31

2.17%

2009-12-31

1.34%

2009-09-30

1.45%

2009-06-30

2.06%

2009-03-31

1.52%

2008-12-31

2.52%

2008-09-30

2.54%

2008-06-30

2.75%

2008-03-31

4.01%

2007-12-31

4.03%

2007-09-30

4.73%

2007-06-30

4.78%

2007-03-31

5.35%

2006-12-31

5.52%

2006-09-30

5.52%

2006-06-30

5.18%

2006-03-31

4.37%

2005-12-31

4.33%

2005-09-30

3.82%

2005-06-30

3.81%

2005-03-31

3.63%

2004-12-31

3.79%

2004-09-30

3.65%

2004-06-30

3.86%

2004-03-31

3.59%

2003-12-31

3.68%

2003-09-30

3.46%

2003-06-30

2.79%

Return on Invested Capital (ROIC): 4.30%

LUV Return on Invested Capital (ROIC)

LUV Average Return on Invested Capital (ROIC) Chart

LUV Current vs Average Return on Invested Capital (ROIC) Chart

LUV Return on Invested Capital (ROIC) Metrics

LUV Competitors' Return on Invested Capital (ROIC)

Capital Efficiency

Return on Invested Capital (ROIC) Formula & Definition

Return on Invested Capital (ROIC) FAQ

LUV Return on Invested Capital (ROIC) History

Related Metrics