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Alaska Air Group, Inc.

ALK Industrials Airlines

Alaska Air Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.2 billion, up 21.3% from fiscal 2024.

Revenue
+9.75%
EPS
−146.9%
Free cash flow
−14.6%
Total debt
+24.9%

Quarter to June 2026, against a year earlier

35.71 0.44 −1.22%
Market cap
$4.0B
P/E
0.0×
Fwd P/E
−7.3×
Dividend yield
—
F-score
6/9
Altman Z
1.12
Beneish M
−2.76
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.00
Sold, $m 3.47
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — 1 — — —
Sell — — 5 — — — — — 1 — — —
Insider Ownership 0.25%

Capital & Financial Ratios $m

Size
Market Cap 4,040.00
Revenue ttm 14,763.00
Net income ttm (175.00)
Free cash flow ttm (548.00)
Net debt Q 3,540.00
Valuation
P/E 0.00
Forward P/E (7.32) (negative: loss-making)
Price / sales 0.27
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.08
Financial health
Current ratio Q 0.55 (below 1: weak)
Debt / equity Q 1.70
Interest coverage Q (1.95)
Growth
Revenue growth Q +9.75% (above 0%: growing)
Operating income growth Q −160.65% (below 0%: shrinking)
EPS, this year −289.22% (below 0%: weak)
EPS, next year A +170.08% (at or above 15%: strong)
Revenue, next year A +10.89% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +46.16% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.5×, against a ten-year median of 0.9×; over the ten years it ranged from 0.4× in 2020 to 3.2× in 2021.
P/S against its own 10 years 0.37%
10-year low 10-year high
P/B against its own 10 years 4.52%
10-year low 10-year high
EV/Sales against its own 10 years 8.52%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2016–20
−23.6%/yr
  1. 1.10 ’16
  2. 1.50 ’17 +36%
  3. 1.28 ’18 −15%
  4. 1.40 ’19 +9%
  5. 0.38 ’20 −73%
paid Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,791 2,504 2,151 2,695
Receivables 383 558 565 681
Inventory 116 199 203 253
Other 239 192 69 46
2,705 3,760 3,266 3,936
2023 2024 2025 Q'26
Payables 207 186 324 403
ST’ Debt 289 450 721 452
Other — — — —
4,459 6,145 6,589 7,192

Compound Annual Growth %

10y 5y 3y
Sales 9.79% 31.90% 13.86%
Cash Flow (2.35%) 0.00% (4.14%)
Earnings (19.25%) 0.00% 19.91%
Book Value 5.50% 6.63% 2.57%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.35 Actual 0.36

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.11 0.43 Beat by 0.32
Q1 FY26 −1.61 −1.68 Miss by 0.07
Q2 FY26 −0.97 −0.92 Beat by 0.05
Q3 FY26 0.35 0.36 Beat by 0.01
Q4 FY26 −1.73 — Reports 28 January 2027

EPS $

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)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,300 4,065 — — —
’25 3,137 3,704 3,766 3,632 14,239
’24 2,232 2,897 3,072 3,534 11,735
’23 2,196 2,838 2,839 2,553 10,426
’22 1,681 2,658 2,828 2,479 9,646
’21 797 1,527 1,953 1,899 6,176
’20 1,636 421 701 808 3,566
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 421 185 — — —
’25 459 376 229 185 1,249
’24 292 580 318 274 1,464
’23 222 610 271 (53) 1,050
’22 287 948 174 9 1,418
’21 167 840 (106) 129 1,030
’20 33 288 (205) (350) (234)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 83 415 — — —
’25 221 486 (606) (440) (339)
’24 235 50 53 (155) 183
’23 98 100 (86) (556) (444)
’22 (1) 604 (141) (715) (253)
’21 140 765 (194) 29 740
’20 (86) 239 (241) (89) (177)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 5,925 7,894 8,264 8,781 3,566 6,176 9,646 10,426 11,735 14,239 14,763 +10.2% 15,790 17,353 18,188 +8.5%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 1,316 1,159 585 1,016 (1,840) 629 79 323 545 146 (390) (21.7%)
EBT margin, % 22.21 14.68 7.08 11.57 (51.60) 10.18 0.82 3.10 4.64 1.03 (2.64) (21.2) pt
Net income 797 960 437 769 (1,324) 478 58 235 395 100 (175) (20.6%)
Per share, $
Per share, $ Revenue 47.95 64.07 67.06 71.23 28.89 49.38 76.16 81.85 93.03 120.49 132.85 +10.8%
Earnings 6.59 8.34 3.55 6.24 (10.59) 3.82 0.46 1.84 3.13 0.85 (1.56) (20.4%)
Cash flow 11.22 12.90 9.70 13.97 (1.90) 8.24 11.20 8.24 11.61 10.57 9.18 (0.7%)
Capex (5.45) (7.69) (7.66) (5.42) 0.46 (2.32) (13.19) (11.73) (10.16) (13.44) (14.11) +10.6%
Free cash flow 5.77 5.21 2.04 8.55 (1.43) 5.92 (2.00) (3.49) 1.45 (2.87) (4.93) n/m
Book value 23.72 28.08 30.44 35.13 24.20 30.39 30.13 32.29 34.66 34.85 33.03 +4.4%
Shares, m 124 123 123 123 123 125 127 127 126 118 115 (0.5%)
Valuation, ×
Valuation, × P/E 13.37 9.00 17.14 10.87 0.00 13.64 93.69 20.81 20.75 55.27 0.00 25.5
P/S 1.84 1.17 0.91 0.95 1.80 1.06 0.55 0.47 0.70 0.42 0.27 1.0
P/B 3.71 2.67 2.00 1.93 2.15 1.71 1.40 1.19 1.87 1.44 1.08 2.0
EV/Sales 2.07 1.29 1.01 0.95 1.84 1.17 0.53 0.53 0.91 0.66 0.51 1.1
EV/FCF 17.19 15.87 33.33 7.90 (37.11) 9.75 (20.09) (12.53) 58.20 (27.58) (13.71) 4.5
Cash, $m
Cash, $m Operating cash flow 1,386 1,590 1,195 1,722 (234) 1,030 1,418 1,050 1,464 1,249 1,020 (1.1%)
Capex (673) (948) (944) (668) 57 (290) (1,671) (1,494) (1,281) (1,588) (1,568) +10.0%
Free cash flow 713 642 251 1,054 (177) 740 (253) (444) 183 (339) (548) n/m
Balance, $m
Balance, $m Working capital (485) (534) (1,155) (1,164) (287) (71) (1,453) (1,754) (2,385) (3,323) (3,256) +23.8%
Net debt 1,384 948 867 (22) 149 702 (258) 680 2,484 3,404 3,540 +10.5%
Shareholders’ equity 2,931 3,460 3,751 4,331 2,988 3,801 3,816 4,113 4,372 4,118 3,670 +3.9%
Returns, %
Returns, % ROA 9.67 9.27 4.04 6.43 (9.79) 3.41 0.41 1.63 2.30 0.50 (0.85) (9.2) pt
ROIC 18.92 17.13 8.70 15.42 (35.36) 9.51 1.23 5.14 5.20 2.52 (1.94) (16.4) pt
ROE 29.84 30.04 12.12 19.03 (36.18) 14.08 1.52 5.93 9.31 2.36 (4.60) (27.5) pt
People
People Employees 19,112 23,156 23,376 24,000 22,000 22,833 25,469 26,043 33,941 35,951 — +7.3%
Revenue/emp, $m 0.31 0.34 0.35 0.37 0.16 0.27 0.38 0.40 0.35 0.40 — +2.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Alaska Air Group, Inc. vs peers in Airlines (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LTM LATAM Airlines Group S.A. $12.6B 7.8× 8.3× +27.15% (above 0%: growing) −45.68% (below 0%: shrinking) −20.71% (below 0%: shrinking) 16.27% 5.29% Compare
AAL American Airlines Group Inc. $8.5B — (loss-making) — (loss-making) +16.28% (above 0%: growing) −87.91% (below 0%: shrinking) −175.65% (below 0%: shrinking) 20.73% 2.67% Compare
CPA Copa Holdings, S.A. $5.4B 8.5× 8.5× +25.72% (above 0%: growing) −53.74% (below 0%: shrinking) +207.63% (above 0%: growing) 50.85% 8.65% Compare
ALK Alaska Air Group, Inc. $4.0B — (loss-making) — (loss-making) +9.75% (above 0%: growing) n/m −14.61% (below 0%: shrinking) 100.00% (4.13%)
SKYW SkyWest, Inc. $3.8B 8.0× 7.7× +6.52% (above 0%: growing) −14.43% (below 0%: shrinking) +122.47% (above 0%: growing) 69.52% 14.13% Compare
AERO Grupo Aeromexico SAB DE CV - Sponsored ADR $2.1B 7.8× 71.2× +6.26% (above 0%: growing) n/m +81.61% (above 0%: growing) 66.60% 4.53% Compare
ALGT Allegiant Travel Company $2.0B 50.1× 47.8× +36.86% (above 0%: growing) n/m −610.56% (below 0%: shrinking) 24.77% 2.24% Compare
ULCC Frontier Group Holdings, Inc. $1.5B — (loss-making) — (loss-making) +37.67% (above 0%: growing) n/m +183.13% (above 0%: growing) 24.71% (7.58%) Compare
JBLU JetBlue Airways Corporation $1.2B — (loss-making) — (loss-making) +14.47% (above 0%: growing) n/m −4.95% (below 0%: shrinking) 51.32% (5.23%) Compare
Median of peers $2.9B 8.0× 8.5× +21.00% −49.71% +38.33% 37.81% 3.60%

All 19 Airlines stocks →

Pay and ownership Proxy statement filed 30 March 2026

Ownership

Directors and executive officers, together 1.00%
The Vanguard Group 10.36%
BlackRock, Inc. 9.15%
FMR LLC 5.73%
Dimensional Fund Advisors LP 5.49%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Alaska Air Group, Inc. (ALK) Latest News

31 Oct

Impact 3 · · staradvertiser.com

30 Oct

Impact 3 · · staradvertiser.com

29 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Zacks
Impact 3 · · Simply Wall St.

28 Oct

Impact 4 · · staradvertiser.com
Impact 3 · · Zacks
Impact 3 · · Zacks

27 Oct

Impact 4 · · PR Newswire

24 Oct

Impact 4 · · TheStreet

22 Oct

Impact 4 · · staradvertiser.com
Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

21 Oct

Impact 4 · · The Motley Fool earnings
Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby
Impact 4 · · Zacks
Impact 3 · · Trefis
Impact 3 · · Zacks

20 Oct

Impact 4 · · PR Newswire
Impact 4 · · ciodive.com
Impact 4 · · PR Newswire
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Associated Press

19 Oct

Impact 4 · · PR Newswire

15 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Zacks
Impact 3 · · Trefis
stockrow.com/ALK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com