What is the current annual gross margin of LUV?

As of today, LUV annual gross margin is 17.03%

What is 1-year change in LUV annual gross margin?

LUV annual gross margin is up +5.38% year-over-year

What is 3-year change in LUV annual gross margin?

LUV annual gross margin is up +132.02% over the past 3 years

How far is LUV annual gross margin from its all-time high?

LUV annual gross margin is currently -63.72% below its historical high of 46.94% set on December 31, 2008

How does LUV annual gross margin rank versus sector peers?

LUV annual gross margin is higher than 29.10% of companies in Industrials sector

When is LUV next annual earnings release?

The next annual earnings release for LUV is on January 28, 2026

What is the current quarterly gross margin of LUV?

As of today, LUV quarterly gross margin is 17.70%

What is LUV quarterly gross margin most recent change?

LUV quarterly gross margin was down -10.33% on September 30, 2025

What is 1-year change in LUV quarterly gross margin?

LUV quarterly gross margin is up +4.30% year-over-year

How far is LUV quarterly gross margin from its all-time high?

LUV quarterly gross margin is currently -74.69% below its historical high of 69.92% set on September 30, 2001

How does LUV quarterly gross margin rank versus sector peers?

LUV quarterly gross margin is higher than 30.10% of companies in Industrials sector

When is LUV next earnings release?

The next earnings release for LUV is on January 28, 2026

LUV Gross Margin History & Chart Since 1980

Annual Gross Margin

17.03%0.87%+5.38%

December 31, 2024

Summary

Current Value: As of today, LUV annual gross margin is 17.03%, up +5.38% on December 31, 2024
Historical Performance: LUV annual gross margin is up +132.02% over the past 3 years, and down -36.67% over the past 5 years
All-Time High Comparison: LUV annual gross margin is currently -63.72% below its historical high of 46.94% set on December 31, 2008
3-Year Low Comparison: LUV annual gross margin is +5.38% above its 3-year low of 16.16% reached on December 31, 2023
Sector Comparison: LUV annual gross margin is higher than 29.10% of companies in Industrials sector

Gross Margin Chart

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Series

Performance

LUV Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Gross Margin	Dec 31, 24	17.03%	+5.4%	+132.0%	-36.7%	-10.8%
Quarterly Gross Margin	Sep 30, 25	17.70%	+4.3%	+8.1%	+130.1%	-21.3%
Price	Jan 9, 26	$44.52	+35.4%	+25.0%	-5.2%	+235.0%
PE Ratio	Jan 9, 26	67.83	+46.6%	+50.5%	–	+211.3%
Annual Revenue	Dec 31, 24	$27.48B	+5.3%	+74.0%	+22.5%	+165.5%
Annual Gross Profit	Dec 31, 24	$4.68B	+11.0%	+303.7%	-22.4%	+136.7%
Annual Operating Margin	Dec 31, 24	-80.98%	+2.4%	+19.4%	-35.6%	-8.4%
Annual Net Margin	Dec 31, 24	1.76%	-1.1%	-71.6%	-82.8%	+83.3%

Gross Margin Highs

LUV Annual Gross Margin Highs Comparison
Period	High	Date	Current
3Y	17.03%	Dec 31, 24	at high
5Y	17.03%	Dec 31, 24	at high
All	46.94%	Dec 31, 08	-63.7%

Gross Margin Lows

LUV Annual Gross Margin Lows Comparison
Period	Low	Date	Current
3Y	16.16%	Dec 31, 23	+5.4%
5Y	-30.80%	N/A	+155.3%
All	-30.80%	Dec 31, 20	+155.3%

Gross Margin History

Year	Value	Change
2024	17.03%	+5.4%
2023	16.16%	-4.4%
2022	16.90%	+130.2%
2021	7.34%	+123.8%
2020	-30.80%	-214.5%
2019	26.89%	-2.0%
2018	27.43%	-14.8%
2017	32.19%	+4.9%
2016	30.68%	-10.2%
2015	34.18%	+40.6%
2014	24.31%	+29.4%
2013	18.79%	+9.0%
2012	17.24%	-4.2%
2011	17.99%	-19.3%
2010	22.28%	+16.6%
2009	19.10%	-59.3%
2008	46.94%	+200.7%
2007	15.61%	-12.8%
2006	17.90%	+19.7%
2005	14.95%	-39.4%
2004	24.69%	-10.4%
2003	27.57%	+2.9%
2002	26.78%	-11.8%

Year	Value	Change
2001	30.36%	-8.8%
2000	33.29%	+0.2%
1999	33.23%	-0.2%
1998	33.31%	+8.6%
1997	30.66%	+8.1%
1996	28.35%	+0.3%
1995	28.26%	-3.0%
1994	29.12%	-2.5%
1993	29.86%	+13.1%
1992	26.39%	+22.6%
1991	21.53%	-3.8%
1990	22.39%	-13.4%
1989	25.84%	-6.8%
1988	27.73%	+18.4%
1987	23.42%	-23.3%
1986	30.53%	+5.9%
1985	28.82%	-0.1%
1984	28.86%	-6.4%
1983	30.83%	+15.9%
1982	26.59%	-14.2%
1981	31.00%	-15.8%
1980	36.80%	-

FAQ

What is the current annual gross margin of LUV?
As of today, LUV annual gross margin is 17.03%
What is 1-year change in LUV annual gross margin?
LUV annual gross margin is up +5.38% year-over-year
What is 3-year change in LUV annual gross margin?
LUV annual gross margin is up +132.02% over the past 3 years
How far is LUV annual gross margin from its all-time high?
LUV annual gross margin is currently -63.72% below its historical high of 46.94% set on December 31, 2008
How does LUV annual gross margin rank versus sector peers?
LUV annual gross margin is higher than 29.10% of companies in Industrials sector
When is LUV next annual earnings release?
The next annual earnings release for LUV is on January 28, 2026

Quarterly Gross Margin

17.70%2.04%-10.33%

September 30, 2025

Summary

Current Value: As of today, LUV quarterly gross margin is 17.70%, down -10.33% on September 30, 2025
Historical Performance: LUV quarterly gross margin is up +4.30% year-over-year, and up +8.06% over the past 3 years
All-Time High Comparison: LUV quarterly gross margin is currently -74.69% below its historical high of 69.92% set on September 30, 2001
3-Year Low Comparison: LUV quarterly gross margin is +73.19% above its 3-year low of 10.22% reached on March 31, 2024
Sector Comparison: LUV quarterly gross margin is higher than 30.10% of companies in Industrials sector

Performance

LUV Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Gross Margin	Sep 30, 25	17.70%	-10.3%	+4.3%	+8.1%	+130.1%
Annual Gross Margin	Dec 31, 24	17.03%	–	+5.4%	+132.0%	-36.7%
Price	Jan 9, 26	$44.52	+40.5%	+35.4%	+25.0%	-5.2%
PE Ratio	Jan 9, 26	67.83	+40.5%	+46.6%	+50.5%	–
Quarterly Revenue	Sep 30, 25	$6.95B	-4.1%	+1.1%	+11.7%	+287.6%
Quarterly Gross Profit	Sep 30, 25	$1.23B	-14.0%	+5.5%	+20.7%	+216.7%
Quarterly Operating Margin	Sep 30, 25	1.57%	-62.0%	+20.8%	-51.7%	+101.8%
Quarterly Net Margin	Sep 30, 25	0.78%	-73.5%	-20.4%	-82.5%	+101.2%

Quarterly Gross Margin Highs

LUV Quarterly Gross Margin Highs Comparison
Period	High	Date	Current
1Y	19.74%	Jun 30, 25	-10.3%
3Y	24.68%	Jun 30, 23	-28.3%
5Y	24.68%	Jun 30, 23	-28.3%
All	69.92%	Sep 30, 01	-74.7%

Quarterly Gross Margin Lows

LUV Quarterly Gross Margin Lows Comparison
Period	Low	Date	Current
1Y	15.48%	Mar 31, 25	+14.3%
3Y	10.22%	Mar 31, 24	+73.2%
5Y	-37.52%	Mar 31, 21	+147.2%
All	-166.37%	Jun 30, 20	+110.6%

Quarterly Gross Margin History

Month	Value	Change
Sep 2025	17.70%	-10.3%
Jun 2025	19.74%	+27.5%
Mar 2025	15.48%	-16.2%
Dec 2024	18.47%	+8.8%
Sep 2024	16.97%	-19.4%
Jun 2024	21.05%	+106.0%
Mar 2024	10.22%	-15.6%
Dec 2023	12.11%	-22.8%
Sep 2023	15.68%	-36.5%
Jun 2023	24.68%	+120.0%
Mar 2023	11.22%	-23.4%
Dec 2022	14.65%	-10.6%
Sep 2022	16.38%	-32.9%
Jun 2022	24.42%	+204.1%
Mar 2022	8.03%	-52.5%
Dec 2021	16.89%	+27.3%
Sep 2021	13.27%	+17.6%
Jun 2021	11.28%	+130.1%
Mar 2021	-37.52%	-19.3%
Dec 2020	-31.45%	+46.5%
Sep 2020	-58.78%	+64.7%
Jun 2020	-166.37%	-1,254.5%
Mar 2020	14.41%	-43.1%
Dec 2019	25.31%	-10.8%
Sep 2019	28.37%	-3.3%
Jun 2019	29.35%	+21.3%
Mar 2019	24.20%	-12.4%
Dec 2018	27.61%	+1.5%
Sep 2018	27.21%	-7.4%
Jun 2018	29.38%	+20.6%
Mar 2018	24.37%	-16.7%
Dec 2017	29.25%	-10.7%
Sep 2017	32.76%	-10.6%
Jun 2017	36.63%	+28.9%
Mar 2017	28.41%	-15.6%
Dec 2016	33.67%	+9.7%
Sep 2016	30.69%	-22.5%
Jun 2016	39.58%	+11.2%
Mar 2016	35.58%	+12.3%
Dec 2015	31.68%	-12.7%
Sep 2015	36.27%	+16.9%
Jun 2015	31.03%	+11.5%
Mar 2015	27.82%	+6.0%
Dec 2014	26.25%	+5.1%
Sep 2014	24.98%	-7.1%
Jun 2014	26.90%	+47.6%
Mar 2014	18.22%	-15.2%
Dec 2013	21.48%	+6.9%
Sep 2013	20.09%	+1.5%
Jun 2013	19.79%	+49.1%
Mar 2013	13.27%	-13.5%
Dec 2012	15.34%	-6.2%
Sep 2012	16.36%	-22.5%
Jun 2012	21.10%	+60.5%
Mar 2012	13.15%	-22.7%
Dec 2011	17.02%	-4.6%
Sep 2011	17.84%	+0.2%
Jun 2011	17.80%	+8.3%
Mar 2011	16.44%	-17.3%
Dec 2010	19.88%	-11.6%
Sep 2010	22.49%	+3.3%
Jun 2010	21.78%	+47.7%
Mar 2010	14.75%	-22.2%
Dec 2009	18.95%	+46.0%
Sep 2009	12.98%	-26.3%
Jun 2009	17.62%	+49.4%
Mar 2009	11.79%	+3.0%
Dec 2008	11.45%	+228.1%
Sep 2008	3.49%	-20.5%
Jun 2008	4.39%	-41.2%
Mar 2008	7.47%	-26.1%
Dec 2007	10.11%	-38.4%
Sep 2007	16.42%	-18.1%
Jun 2007	20.05%	+28.9%

Month	Value	Change
Mar 2007	15.56%	-11.4%
Dec 2006	17.57%	+5.0%
Sep 2006	16.74%	-23.5%
Jun 2006	21.89%	+48.3%
Mar 2006	14.76%	+19.8%
Dec 2005	12.32%	-55.4%
Sep 2005	27.60%	-56.4%
Jun 2005	63.32%	+378.6%
Mar 2005	13.23%	-78.3%
Dec 2004	61.09%	-3.2%
Sep 2004	63.14%	-1.1%
Jun 2004	63.87%	+6.6%
Mar 2004	59.91%	-3.4%
Dec 2003	62.03%	-1.6%
Sep 2003	63.04%	-1.7%
Jun 2003	64.16%	+8.8%
Mar 2003	58.99%	+137.8%
Dec 2002	24.81%	-64.2%
Sep 2002	69.22%	+7.7%
Jun 2002	64.30%	+6.2%
Mar 2002	60.52%	+11.4%
Dec 2001	54.32%	-22.3%
Sep 2001	69.92%	+7.6%
Jun 2001	64.97%	+3.8%
Mar 2001	62.60%	-3.3%
Dec 2000	64.72%	+85.5%
Sep 2000	34.89%	-3.2%
Jun 2000	36.06%	+27.2%
Mar 2000	28.35%	-6.7%
Dec 1999	30.37%	-6.6%
Sep 1999	32.51%	-12.5%
Jun 1999	37.15%	+13.3%
Mar 1999	32.80%	+0.7%
Dec 1998	32.57%	-6.0%
Sep 1998	34.64%	-3.4%
Jun 1998	35.85%	+20.7%
Mar 1998	29.71%	-30.4%
Dec 1997	42.69%	-1.5%
Sep 1997	43.33%	-2.5%
Jun 1997	44.42%	+16.2%
Mar 1997	38.23%	+12.7%
Dec 1996	33.93%	-12.0%
Sep 1996	38.55%	-10.6%
Jun 1996	43.14%	+18.9%
Mar 1996	36.27%	-2.8%
Dec 1995	37.30%	-11.5%
Sep 1995	42.13%	+0.8%
Jun 1995	41.80%	+20.8%
Mar 1995	34.61%	-2.4%
Dec 1994	35.47%	-18.1%
Sep 1994	43.31%	-2.1%
Jun 1994	44.26%	-14.6%
Mar 1994	51.82%	+8.9%
Dec 1993	47.58%	-14.5%
Sep 1993	55.66%	+1.3%
Jun 1993	54.95%	+4.8%
Mar 1993	52.45%	-2.1%
Dec 1992	53.60%	+0.5%
Sep 1992	53.32%	+1.6%
Jun 1992	52.47%	+0.5%
Mar 1992	52.21%	+5.2%
Dec 1991	49.64%	-3.3%
Sep 1991	51.34%	+4.5%
Jun 1991	49.12%	+13.6%
Mar 1991	43.25%	+6.9%
Dec 1990	40.45%	-24.1%
Sep 1990	53.32%	-5.0%
Jun 1990	56.10%	+14.9%
Mar 1990	48.81%	0.0%
Dec 1989	48.81%	-10.1%
Sep 1989	54.28%	+3.6%
Jun 1989	52.39%	-3.8%
Mar 1989	54.45%	-

FAQ

What is the current quarterly gross margin of LUV?
As of today, LUV quarterly gross margin is 17.70%
What is LUV quarterly gross margin most recent change?
LUV quarterly gross margin was down -10.33% on September 30, 2025
What is 1-year change in LUV quarterly gross margin?
LUV quarterly gross margin is up +4.30% year-over-year
How far is LUV quarterly gross margin from its all-time high?
LUV quarterly gross margin is currently -74.69% below its historical high of 69.92% set on September 30, 2001
How does LUV quarterly gross margin rank versus sector peers?
LUV quarterly gross margin is higher than 30.10% of companies in Industrials sector
When is LUV next earnings release?
The next earnings release for LUV is on January 28, 2026

Gross Margin Formula

Gross Margin = Gross Profit

Revenue × 100%

Data Sources & References

LUV Official Website www.southwest.com
Most Recent Quarterly Report (10-Q) www.sec.gov/Archives/edgar/data/92380/000009238025000140/0000092380-25-000140-index.htm
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/92380/000009238025000024/0000092380-25-000024-index.htm
LUV Profile on Yahoo Finance finance.yahoo.com/quote/LUV
LUV Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/luv