Southwest Airlines Company (LUV)

Debt-to-equity ratio

		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	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	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	8,876,000	9,769,000	10,878,000	9,075,000	9,832,000	9,931,000	9,940,000	9,791,000
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $10,515,000K
= 0.00

The debt-to-equity ratio of Southwest Airlines Co has been relatively stable over the past eight quarters, ranging from 0.72 to 1.03. The ratio indicates that the company has been maintaining a moderate level of debt relative to its equity during this period.

In the most recent quarter (Q4 2023), the debt-to-equity ratio was 0.76, showing a slight increase compared to the previous quarter (Q3 2023) where it was 0.72. This suggests that the company may have taken on slightly more debt relative to its equity in the latest quarter.

Overall, Southwest Airlines Co's debt-to-equity ratio indicates a balanced mix of debt and equity in its capital structure, which can be seen as a positive sign for investors and creditors. However, it is essential for the company to continue monitoring and managing its debt levels effectively to ensure financial stability and long-term sustainability.