| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | 1 | — |
| Sell | — | — | — | — | 5 | — | — | — | — | — | 1 | — |
| total | individual payouts | |
|---|---|---|
| 2025 | ‡‡‡‡ |
|
| 2024 | ‡‡‡‡ |
|
| 2023 | ‡‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | 0.38 |
—
|
| 2019 | 1.40 |
—
—
—
—
|
| 2018 | 1.28 |
—
—
—
—
|
| 2017 | 1.50 |
—
—
—
—
—
|
| 2016 | 1.10 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 1,791.00 | 2,504.00 | 2,151.00 | 2,695.00 |
| Receivables | 383.00 | 558.00 | 565.00 | 681.00 |
| Inventory | 116.00 | 199.00 | 203.00 | 253.00 |
| Other | 239.00 | 192.00 | 69.00 | 46.00 |
| 2,705.00 | 3,760.00 | 3,266.00 | 3,936.00 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 207.00 | 186.00 | 324.00 | 403.00 |
| ST’ Debt | 289.00 | 450.00 | 721.00 | 452.00 |
| Other | — | — | — | — |
| 4,459.00 | 6,145.00 | 6,589.00 | 7,192.00 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 3,300.00 | 4,065.00 | — | — |
—
|
| ’25 | 3,137.00 | 3,704.00 | 3,766.00 | 3,632.00 |
14,239.00
|
| ’24 | 2,232.00 | 2,897.00 | 3,072.00 | 3,534.00 |
11,735.00
|
| ’23 | 2,196.00 | 2,838.00 | 2,839.00 | 2,553.00 |
10,426.00
|
| ’22 | 1,681.00 | 2,658.00 | 2,828.00 | 2,479.00 |
9,646.00
|
| ’21 | 797.00 | 1,527.00 | 1,953.00 | 1,899.00 |
6,176.00
|
| ’20 | 1,636.00 | 421.00 | 701.00 | 808.00 |
3,566.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 421.00 | 185.00 | — | — |
—
|
| ’25 | 459.00 | 376.00 | 229.00 | 185.00 |
1,249.00
|
| ’24 | 292.00 | 580.00 | 318.00 | 274.00 |
1,464.00
|
| ’23 | 222.00 | 610.00 | 271.00 | (53.00) |
1,050.00
|
| ’22 | 287.00 | 948.00 | 174.00 | 9.00 |
1,418.00
|
| ’21 | 167.00 | 840.00 | (106.00) | 129.00 |
1,030.00
|
| ’20 | 33.00 | 288.00 | (205.00) | (350.00) |
(234.00)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 83.00 | 415.00 | — | — |
—
|
| ’25 | 221.00 | 486.00 | (606.00) | (440.00) |
(339.00)
|
| ’24 | 235.00 | 50.00 | 53.00 | (155.00) |
183.00
|
| ’23 | 98.00 | 100.00 | (86.00) | (556.00) |
(444.00)
|
| ’22 | (1.00) | 604.00 | (141.00) | (715.00) |
(253.00)
|
| ’21 | 140.00 | 765.00 | (194.00) | 29.00 |
740.00
|
| ’20 | (86.00) | 239.00 | (241.00) | (89.00) |
(177.00)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (1.69) | (0.68) | — | — |
—
|
| ’25 | (1.35) | 1.42 | 0.62 | 0.18 |
0.83
|
| ’24 | (1.05) | 1.71 | 1.84 | 0.55 |
3.08
|
| ’23 | (1.11) | 1.86 | 1.08 | (0.02) |
1.83
|
| ’22 | (1.14) | 1.09 | 0.31 | 0.17 |
0.45
|
| ’21 | (1.05) | 3.15 | 1.53 | 0.14 |
3.77
|
| ’20 | (1.87) | (1.73) | (3.49) | (3.47) |
(10.59)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 38.19 | 30.75 | 32.62 | 37.63 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 61.55 | 57.18 | 67.73 | 78.08 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 25,469 | 26,043 | 33,941 | 35,951 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.38 | 0.40 | 0.35 | 0.40 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9,646.00 | 10,426.00 | 11,735.00 | 14,239.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 100.00% | 100.00% | 100.00% | 100.00% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 79.00 | 323.00 | 545.00 | 146.00 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.82% | 3.10% | 4.64% | 1.03% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 58.00 | 235.00 | 395.00 | 100.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 415.00 | 451.00 | 583.00 | 795.00 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 76.16 | 81.85 | 93.03 | 120.49 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 0.46 | 1.84 | 3.13 | 0.85 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11.20 | 8.24 | 11.61 | 10.57 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (13.19) | (11.73) | (10.16) | (13.44) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.00) | (3.49) | 1.45 | (2.87) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 30.13 | 32.29 | 34.66 | 34.85 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 126.66 | 127.38 | 126.14 | 118.17 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 93.69 | 20.84 | 20.75 | 55.27 | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.55 | 0.47 | 0.70 | 0.42 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.40 | 1.19 | 1.87 | 1.44 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.53 | 0.53 | 0.91 | 0.66 | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (20.09) | (12.53) | 58.20 | (27.58) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,418.00 | 1,050.00 | 1,464.00 | 1,249.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1,671.00) | (1,494.00) | (1,281.00) | (1,588.00) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (253.00) | (444.00) | 183.00 | (339.00) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1,453.00) | (1,754.00) | (2,385.00) | (3,323.00) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,159.00 | 2,471.00 | 4,988.00 | 5,555.00 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (258.00) | 680.00 | 2,484.00 | 3,404.00 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,816.00 | 4,113.00 | 4,372.00 | 4,118.00 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.41% | 1.63% | 2.30% | 0.50% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.23% | 5.14% | 5.20% | 2.52% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.52% | 5.93% | 9.31% | 2.36% | — | — | — |
ROE
|
Alaska Air Group (ALK) has staged a dramatic revenue rebound, surging 229% from $3.57 billion in 2020 to $11.74 billion in 2024, driven by capacity expansion and post-COVID travel demand. Yet this growth masks deep inefficiencies: EBT margins languish at a mere 4.6%—far below the 22% peak in 2016—with employee headcount ballooning 39% and revenue per employee dropping 14% to $345,747. Profitability remains anemic amid softening pricing power, volatile free cash flow, and persistent operational headwinds like Boeing 737 MAX delays.
The balance sheet raises alarms, with total debt exploding 229% to $4.98 billion and net debt up 3,600% since 2019, eroding ROE to 9.3% and pressuring liquidity. The stalled Hawaiian Airlines merger—threatened by DOJ antitrust suits—promises West Coast scale but risks costly integration or lost synergies. Insiders signal caution, offloading $2.31 million in shares through 2026 with zero buys, amid labor unrest and capacity glut risks.
Valuation appears cheap at a 0.70 PS ratio and projected PE dropping to 8 by 2026 on EPS growth to $6.87, implying 27% upside to consensus targets. But analysts’ optimism for $17.25 billion revenue by 2028 ignores airline cyclicality: margin compression, $80+/barrel fuel shocks, recession vulnerability, and ROIC lagging cost of capital at 5.2%. Is ALK a recovery play or value trap? Dive deeper for the contrarian data.
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