Southwest Airlines Company (LUV)

Return on equity (ROE)

Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Net income (ttm) US$ in thousands 441,000 379,000 392,000 546,000 464,000 -49,000 77,000 393,000 465,000 497,000 581,000 658,000 539,000 827,000 996,000 584,000 978,000 2,000 -1,601,000 -2,864,000
Total stockholders’ equity US$ in thousands 7,981,000 7,776,000 8,000,000 9,365,000 10,350,000 10,411,000 10,465,000 10,196,000 10,515,000 11,054,000 10,789,000 10,302,000 10,687,000 10,924,000 11,120,000 10,417,000 10,414,000 10,250,000 9,688,000 9,093,000
ROE 5.53% 4.87% 4.90% 5.83% 4.48% -0.47% 0.74% 3.85% 4.42% 4.50% 5.39% 6.39% 5.04% 7.57% 8.96% 5.61% 9.39% 0.02% -16.53% -31.50%

December 31, 2025 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $441,000K ÷ $7,981,000K
= 5.53%