Southwest Airlines Company (LUV)

Pretax margin

Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Earnings before tax but after interest (EBT) US$ in thousands 563,000 598,000 633,000 728,000 1,325,000
Revenue US$ in thousands 28,063,000 27,483,000 26,091,000 23,814,000 15,790,000
Pretax margin 2.01% 2.18% 2.43% 3.06% 8.39%

December 31, 2025 calculation

Pretax margin = EBT ÷ Revenue
= $563,000K ÷ $28,063,000K
= 2.01%