What is the current annual operating margin of LUV?

As of today, LUV annual operating margin is 1.53%

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

LUV annual operating margin is down -23.50% year-over-year

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

LUV annual operating margin is up +22.40% over the past 3 years

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

LUV annual operating margin is currently -93.37% below its historical high of 23.06% set on December 31, 2015

How does LUV annual operating margin rank versus sector peers?

LUV annual operating margin is higher than 39.37% of companies in Industrials sector

When is LUV next annual earnings release?

The next annual earnings release for LUV is on January 27, 2027

What is the current quarterly operating margin of LUV?

As of today, LUV quarterly operating margin is 6.04%

What is LUV quarterly operating margin most recent change?

LUV quarterly operating margin was up +48.40% on September 30, 2026

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

LUV quarterly operating margin is up +292.21% year-over-year

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

LUV quarterly operating margin is currently -78.49% below its historical high of 28.08% set on June 30, 2016

How does LUV quarterly operating margin rank versus sector peers?

LUV quarterly operating margin is higher than 44.01% of companies in Industrials sector

When is LUV next earnings release?

The next earnings release for LUV is on January 27, 2027

LUV Operating Margin History & Chart Since 1980

Annual Operating Margin

1.53%0.47%-23.50%

December 31, 2025

Summary

Current Value: As of today, LUV annual operating margin is 1.53%, down -23.50% on December 31, 2025
Historical Performance: LUV annual operating margin is up +22.40% over the past 3 years, up +102.94% over the past 5 years
All-Time High Comparison: LUV annual operating margin is currently -93.37% below its historical high of 23.06% set on December 31, 2015
3-Year Low Comparison: LUV annual operating margin is +77.91% above its 3-year low of 0.86% reached on December 31, 2023
Sector Comparison: LUV annual operating margin is higher than 39.37% of companies in Industrials sector

Operating Margin Chart

beforeafter

Performance

LUV Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Operating Margin	Dec 31, 25	1.53%	-23.5%	+22.4%	+102.9%	-85.4%
Quarterly Operating Margin	Sep 30, 26	6.04%	+292.2%	+486.4%	+810.6%	+5.4%
Price	Nov 9, 26	$46.30	+42.7%	+98.3%	-9.1%	+466.7%
PE Ratio	Nov 9, 26	22.13	-55.2%	-30.6%	–	-40.4%
Annual Revenue	Dec 31, 25	$28.06B	+2.1%	+17.8%	+210.2%	+131.8%
Annual Operating Profit	Dec 31, 25	$428.00M	-22.0%	+44.1%	+109.1%	-66.3%
Annual Gross Margin	Dec 31, 25	17.44%	+2.4%	+3.2%	+156.6%	-21.7%
Annual Net Margin	Dec 31, 25	1.57%	-10.8%	-30.5%	+104.6%	-58.6%

Operating Margin Highs

LUV Annual Operating Margin Highs Comparison
Period	High	Date	Current
3Y	2.00%	Dec 31, 24	-23.5%
5Y	2.00%	Dec 31, 24	-23.5%
All	23.06%	Dec 31, 15	-93.4%

Operating Margin Lows

LUV Annual Operating Margin Lows Comparison
Period	Low	Date	Current
3Y	0.86%	Dec 31, 23	+77.9%
5Y	-52.09%	N/A	+102.9%
All	-52.09%	Dec 31, 20	+102.9%

Operating Margin History

Year	Value	Change
2025	1.53%	-23.5%
2024	2.00%	+132.6%
2023	0.86%	-31.2%
2022	1.25%	+116.1%
2021	-7.78%	+85.1%
2020	-52.09%	-488.7%
2019	13.40%	-7.3%
2018	14.45%	-22.8%
2017	18.72%	+7.8%
2016	17.36%	-24.7%
2015	23.06%	+85.2%
2014	12.45%	+83.9%
2013	6.77%	+27.5%
2012	5.31%	-11.4%
2011	5.99%	-43.0%
2010	10.50%	+69.9%
2009	6.18%	+51.8%
2008	4.07%	+284.0%
2007	1.06%	-67.9%
2006	3.30%	+458.7%
2005	-0.92%	-110.8%
2004	8.48%	-23.0%
2003	11.02%	+31.8%

Year	Value	Change
2002	8.36%	-35.8%
2001	13.03%	-27.9%
2000	18.07%	+9.5%
1999	16.50%	+0.5%
1998	16.42%	+19.6%
1997	13.73%	+33.3%
1996	10.30%	-5.6%
1995	10.91%	-10.7%
1994	12.22%	-7.3%
1993	13.18%	+21.6%
1992	10.84%	+126.3%
1991	4.79%	-30.6%
1990	6.90%	-28.3%
1989	9.62%	-3.7%
1988	9.99%	+155.5%
1987	3.91%	-66.1%
1986	11.52%	+0.1%
1985	11.51%	-9.9%
1984	12.78%	-16.4%
1983	15.28%	+29.1%
1982	11.84%	-34.0%
1981	17.94%	-21.7%
1980	22.92%	-

FAQ

What is the current annual operating margin of LUV?: As of today, LUV annual operating margin is 1.53%
What is 1-year change in LUV annual operating margin?: LUV annual operating margin is down -23.50% year-over-year
What is 3-year change in LUV annual operating margin?: LUV annual operating margin is up +22.40% over the past 3 years
How far is LUV annual operating margin from its all-time high?: LUV annual operating margin is currently -93.37% below its historical high of 23.06% set on December 31, 2015
How does LUV annual operating margin rank versus sector peers?: LUV annual operating margin is higher than 39.37% of companies in Industrials sector
When is LUV next annual earnings release?: The next annual earnings release for LUV is on January 27, 2027

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Quarterly Operating Margin

6.04%1.97%+48.40%

September 30, 2026

Summary

Current Value: As of today, LUV quarterly operating margin is 6.04%, up +48.40% on September 30, 2026
Historical Performance: LUV quarterly operating margin is up +292.21% year-over-year, up +486.41% over the past 3 years
All-Time High Comparison: LUV quarterly operating margin is currently -78.49% below its historical high of 28.08% set on June 30, 2016
3-Year Low Comparison: LUV quarterly operating margin is +203.60% above its 3-year low of -5.83% reached on March 31, 2024
Sector Comparison: LUV quarterly operating margin is higher than 44.01% of companies in Industrials sector

Performance

LUV Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Operating Margin	Sep 30, 26	6.04%	+48.4%	+292.2%	+486.4%	+810.6%
Annual Operating Margin	Dec 31, 25	1.53%	–	-23.5%	+22.4%	+102.9%
Price	Nov 9, 26	$46.30	-1.6%	+42.7%	+98.3%	-9.1%
PE Ratio	Nov 9, 26	22.13	-22.5%	-55.2%	-30.6%	–
Quarterly Revenue	Sep 30, 26	$8.42B	-0.1%	+21.2%	+29.1%	+80.0%
Quarterly Operating Profit	Sep 30, 26	$378.00M	+10.2%	+246.8%	+464.2%	+1045.0%
Quarterly Gross Margin	Sep 30, 26	17.36%	+1.3%	-1.9%	+10.7%	+30.8%
Quarterly Net Margin	Sep 30, 26	3.21%	+16.3%	+311.5%	+8.4%	-66.3%

Quarterly Operating Margin Highs

LUV Quarterly Operating Margin Highs Comparison
Period	High	Date	Current
1Y	6.19%	Dec 31, 25	-2.4%
3Y	6.21%	Jun 30, 24	-2.7%
5Y	12.69%	Jun 30, 22	-52.4%
All	28.08%	Jun 30, 16	-78.5%

Quarterly Operating Margin Lows

LUV Quarterly Operating Margin Lows Comparison
Period	Low	Date	Current
1Y	1.54%	N/A	+292.2%
3Y	-5.83%	Mar 31, 24	+203.6%
5Y	-7.87%	Dec 31, 22	+176.8%
All	-313.89%	Dec 31, 87	+101.9%

Quarterly Operating Margin History

Month	Value	Change
Sep 2026	6.04%	+48.4%
Jun 2026	4.07%	-23.9%
Mar 2026	5.35%	-13.6%
Dec 2025	6.19%	+301.9%
Sep 2025	1.54%	-62.4%
Jun 2025	4.10%	+406.0%
Mar 2025	-1.34%	-128.0%
Dec 2024	4.79%	+268.5%
Sep 2024	1.30%	-79.1%
Jun 2024	6.21%	+206.5%
Mar 2024	-5.83%	-31.3%
Dec 2023	-4.44%	-531.1%
Sep 2023	1.03%	-90.7%
Jun 2023	11.13%	+305.0%
Mar 2023	-5.43%	+31.0%
Dec 2022	-7.87%	-342.2%
Sep 2022	3.25%	-74.4%
Jun 2022	12.69%	+269.2%
Mar 2022	-7.50%	-321.2%
Dec 2021	3.39%	+498.8%
Sep 2021	-0.85%	+74.4%
Jun 2021	-3.32%	+94.5%
Mar 2021	-60.04%	-4.8%
Dec 2020	-57.28%	+33.4%
Sep 2020	-86.00%	+54.3%
Jun 2020	-188.19%	-8,947.6%
Mar 2020	-2.08%	-117.4%
Dec 2019	11.96%	-19.5%
Sep 2019	14.86%	-9.1%
Jun 2019	16.35%	+63.2%
Mar 2019	10.02%	-30.2%
Dec 2018	14.36%	+2.9%
Sep 2018	13.96%	-16.2%
Jun 2018	16.65%	+41.9%
Mar 2018	11.73%	-27.0%
Dec 2017	16.07%	-14.4%
Sep 2017	18.78%	-21.6%
Jun 2017	23.94%	+68.1%
Mar 2017	14.24%	-31.2%
Dec 2016	20.69%	+15.7%
Sep 2016	17.88%	-36.3%
Jun 2016	28.08%	+19.0%
Mar 2016	23.60%	+26.1%
Dec 2015	18.71%	-26.7%
Sep 2015	25.52%	+27.5%
Jun 2015	20.02%	+15.1%
Mar 2015	17.40%	+26.2%
Dec 2014	13.79%	+4.9%
Sep 2014	13.15%	-19.1%
Jun 2014	16.26%	+190.9%
Mar 2014	5.59%	-34.8%
Dec 2013	8.58%	+2.4%
Sep 2013	8.38%	-2.8%
Jun 2013	8.62%	+762.0%
Mar 2013	1.00%	-60.6%
Dec 2012	2.54%	-44.2%
Sep 2012	4.55%	-55.4%
Jun 2012	10.20%	+1,059.1%
Mar 2012	0.88%	-81.2%
Dec 2011	4.67%	-18.5%
Sep 2011	5.73%	-10.6%
Jun 2011	6.41%	+74.7%
Mar 2011	3.67%	-47.1%
Dec 2010	6.94%	-37.6%
Sep 2010	11.12%	-7.6%
Jun 2010	12.03%	+486.8%
Mar 2010	2.05%	-66.7%
Dec 2009	6.16%	+642.2%
Sep 2009	0.83%	-82.3%
Jun 2009	4.70%	+321.7%
Mar 2009	-2.12%	-149.5%
Dec 2008	4.28%	+141.1%
Sep 2008	-10.41%	-11.0%
Jun 2008	-9.38%	-17.0%
Mar 2008	-8.02%	-66.4%
Dec 2007	-4.82%	-298.4%
Sep 2007	2.43%	-59.5%
Jun 2007	6.00%	+2,508.7%

Month	Value	Change
Mar 2007	0.23%	-90.5%
Dec 2006	2.42%	-5.5%
Sep 2006	2.56%	-69.3%
Jun 2006	8.33%	+1,036.0%
Mar 2006	-0.89%	+82.1%
Dec 2005	-4.98%	-139.9%
Sep 2005	12.47%	-5.3%
Jun 2005	13.17%	+546.4%
Mar 2005	-2.95%	-140.7%
Dec 2004	7.25%	-36.5%
Sep 2004	11.41%	-0.6%
Jun 2004	11.48%	+270.3%
Mar 2004	3.10%	-57.7%
Dec 2003	7.32%	-38.5%
Sep 2003	11.91%	+28.9%
Jun 2003	9.24%	+171.8%
Mar 2003	3.40%	-45.8%
Dec 2002	6.27%	-4.3%
Sep 2002	6.55%	-47.0%
Jun 2002	12.37%	+214.8%
Mar 2002	3.93%	+31.0%
Dec 2001	3.00%	-56.9%
Sep 2001	6.96%	-62.8%
Jun 2001	18.72%	+27.3%
Mar 2001	14.71%	-14.0%
Dec 2000	17.11%	-15.7%
Sep 2000	20.29%	-5.8%
Jun 2000	21.54%	+72.2%
Mar 2000	12.51%	-2.3%
Dec 1999	12.80%	-23.4%
Sep 1999	16.72%	-19.8%
Jun 1999	20.84%	+34.5%
Mar 1999	15.49%	+1.8%
Dec 1998	15.22%	-18.3%
Sep 1998	18.63%	-3.6%
Jun 1998	19.33%	+63.1%
Mar 1998	11.85%	+108.3%
Dec 1997	-142.73%	-541.5%
Sep 1997	-22.25%	-5.5%
Jun 1997	-21.09%	+30.6%
Mar 1997	-30.38%	+82.3%
Dec 1996	-171.30%	-515.3%
Sep 1996	-27.84%	-31.4%
Jun 1996	-21.19%	+39.1%
Mar 1996	-34.80%	-9.5%
Dec 1995	-31.79%	-34.6%
Sep 1995	-23.62%	+5.6%
Jun 1995	-25.02%	+37.3%
Mar 1995	-39.90%	-8.6%
Dec 1994	-36.75%	-61.5%
Sep 1994	-22.75%	-0.7%
Jun 1994	-22.60%	-284.2%
Mar 1994	12.27%	+9.8%
Dec 1993	11.17%	-28.7%
Sep 1993	15.66%	+9.0%
Jun 1993	14.37%	+46.2%
Mar 1993	9.83%	-16.0%
Dec 1992	11.70%	-2.9%
Sep 1992	12.05%	+10.7%
Jun 1992	10.89%	+30.6%
Mar 1992	8.34%	+34.3%
Dec 1991	6.21%	-29.3%
Sep 1991	8.78%	+39.1%
Jun 1991	6.31%	+270.1%
Mar 1991	-3.71%	-166.9%
Dec 1990	-1.39%	-112.0%
Sep 1990	11.60%	-13.4%
Jun 1990	13.40%	+325.4%
Mar 1990	3.15%	-44.0%
Dec 1989	5.63%	-54.0%
Sep 1989	12.24%	+12.4%
Jun 1989	10.89%	+14.0%
Mar 1989	9.55%	+103.9%
Dec 1988	-243.00%	+22.6%
Dec 1987	-313.89%	-14.0%
Dec 1986	-275.37%	-16.5%
Dec 1985	-236.37%	+5.5%
Dec 1984	-250.11%	-

FAQ

What is the current quarterly operating margin of LUV?: As of today, LUV quarterly operating margin is 6.04%
What is LUV quarterly operating margin most recent change?: LUV quarterly operating margin was up +48.40% on September 30, 2026
What is 1-year change in LUV quarterly operating margin?: LUV quarterly operating margin is up +292.21% year-over-year
How far is LUV quarterly operating margin from its all-time high?: LUV quarterly operating margin is currently -78.49% below its historical high of 28.08% set on June 30, 2016
How does LUV quarterly operating margin rank versus sector peers?: LUV quarterly operating margin is higher than 44.01% of companies in Industrials sector
When is LUV next earnings release?: The next earnings release for LUV is on January 27, 2027

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Data Sources & References

LUV Official Website www.southwest.com
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/92380/000009238026000002/0000092380-26-000002-index.htm
LUV Profile on Yahoo Finance finance.yahoo.com/quote/LUV
LUV Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/luv