Southwest Airlines Company (LUV)

Operating return on assets (Operating ROA)

Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Operating income US$ in thousands 428,000 321,000 224,000 1,017,000 1,721,000
Total assets US$ in thousands 29,061,000 33,750,000 36,487,000 35,369,000 36,320,000
Operating ROA 1.47% 0.95% 0.61% 2.88% 4.74%

December 31, 2025 calculation

Operating ROA = Operating income ÷ Total assets
= $428,000K ÷ $29,061,000K
= 1.47%