Southwest Airlines Company (LUV)
Financial leverage ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 29,061,000 | 28,312,000 | 28,712,000 | 33,212,000 | 33,750,000 | 34,847,000 | 35,563,000 | 36,018,000 | 36,487,000 | 36,980,000 | 36,519,000 | 35,546,000 | 35,369,000 | 35,946,000 | 38,302,000 | 37,262,000 | 36,320,000 | 37,110,000 | 38,206,000 | 35,493,000 |
| 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 |
| Financial leverage ratio | 3.64 | 3.64 | 3.59 | 3.55 | 3.26 | 3.35 | 3.40 | 3.53 | 3.47 | 3.35 | 3.38 | 3.45 | 3.31 | 3.29 | 3.44 | 3.58 | 3.49 | 3.62 | 3.94 | 3.90 |
December 31, 2025 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $29,061,000K ÷ $7,981,000K
= 3.64
Peer comparison
Dec 31, 2025
Company name
Symbol
Financial leverage ratio
Southwest Airlines Company
LUV
3.64
Alaska Air Group Inc
ALK
—
American Airlines Group
AAL
—
Delta Air Lines Inc
DAL
3.91
JetBlue Airways Corp
JBLU
7.31
SkyWest Inc
SKYW
2.69
United Airlines Holdings Inc
UAL
5.00