ALASKA AIR GROUP, INC.
ALK· NYSE· Air Transportation, Scheduled
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- –
- ROIC, 5 yr avg
- 6.5%
- Revenue, 5 yr CAGR
- +31.9%
We record prices for the companies we cover; ALK is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 119.9M
- Revenue
- $14.2B
- Free cash flow
- –
- Owner earnings
- –
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 2.1%
- Net
- 0.7%
- Free cash flow
- –
- Owner earnings
- –
- Stock pay
- 0.1%
Returns
- ROIC, FY2025
- 2.8%
- ROIC, 5 yr avg
- 6.5%
- ROE, FY2025
- 2.4%
- ROE, 5 yr avg
- 6.3%
Growth (CAGR)
- Revenue, 3 yr
- 13.9%
- Revenue, 5 yr
- 31.9%
- Revenue, 9 yr
- 10.2%
- Diluted EPS, 3 yr
- 22.6%
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- -20.3%
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $2.1B
- Total debt
- $5.3B
- Net debt
- $3.2B
- Debt/Equity
- 1.3x
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -0.6%
Financials: ten years from the 10-Ks
Revenue
$14.2B
+10.2% a year over 9 years
FY2016FY2025
Margins
Operating2.1%Net0.7%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow–Owner earnings–
FY2025
FY2016FY2025
Diluted shares
119.9M
-3.6% over 9 years, net buybacks
FY2016FY2025
Return on invested capital
2.8%
FY2025
FY2016FY2025
Net debt (below zero)
-$3.2B
$3.2B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $5.9B | $7.9B | $8.3B | $8.8B | $3.6B | $6.2B | $9.6B | $10.4B | $11.7B | $14.2B |
| Revenue growth | – | 33.2% | 4.7% | 6.3% | -59.4% | 73.2% | 56.2% | 8.1% | 12.6% | 21.3% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 22.0% | 15.3% | 7.8% | 12.1% | -49.8% | 11.1% | 0.7% | 3.8% | 4.9% | 2.1% |
| Net income | $797.0M | $960.0M | $437.0M | $769.0M | -$1.3B | $478.0M | $58.0M | $235.0M | $395.0M | $100.0M |
| Net margin | 13.5% | 12.2% | 5.3% | 8.8% | -37.1% | 7.7% | 0.6% | 2.3% | 3.4% | 0.7% |
| Diluted EPS | $6.41 | $7.75 | $3.52 | $6.19 | $-10.72 | $3.77 | $0.45 | $1.83 | $3.08 | $0.83 |
| Return on invested capital? | 19.2% | 17.1% | 8.4% | 14.3% | – | 16.1% | 1.4% | 6.0% | 6.0% | 2.8% |
| Cash | ||||||||||
| Operating cash flow | $1.4B | $1.6B | $1.2B | $1.7B | -$234.0M | $1.0B | $1.4B | $1.1B | $1.5B | $1.2B |
| Capital expenditure | $678.0M | $1.0B | $960.0M | $696.0M | $222.0M | $292.0M | $1.7B | $1.5B | – | – |
| Free cash flow | $708.0M | $564.0M | $235.0M | $1.0B | -$456.0M | $738.0M | -$253.0M | -$444.0M | – | – |
| Stock-based compensation | $26.0M | $55.0M | $47.0M | $29.0M | $24.0M | $51.0M | $42.0M | $85.0M | $63.0M | $10.0M |
| Owner earnings? | $682.0M | $509.0M | $188.0M | $997.0M | -$480.0M | $687.0M | -$295.0M | -$529.0M | – | – |
| Free cash flow per share | $5.69 | $4.55 | $1.90 | $8.25 | $-3.69 | $5.82 | $-1.98 | $-3.45 | – | – |
| Capital allocation | ||||||||||
| Dividends paid | $136.0M | $148.0M | $158.0M | $173.0M | $45.0M | $0 | $0 | – | – | – |
| Share repurchases | $193.0M | $75.0M | $50.0M | $75.0M | $31.0M | $0 | $0 | $137.0M | $312.0M | $570.0M |
| Diluted shares | 124.4M | 123.9M | 124.0M | 124.3M | 123.5M | 126.8M | 127.9M | 128.7M | 128.4M | 119.9M |
| Share count change? | -3.9% | -0.4% | 0.1% | 0.3% | -0.7% | 2.7% | 0.9% | 0.6% | -0.3% | -6.6% |
| Balance sheet | ||||||||||
| Cash and equivalents | $328.0M | $194.0M | $105.0M | $221.0M | $1.4B | $470.0M | $338.0M | $281.0M | $1.2B | $627.0M |
| Short-term investments | $1.3B | – | – | – | $2.0B | $2.6B | $2.1B | $1.5B | $1.3B | $1.5B |
| Total debt | $3.0B | $2.6B | $2.1B | $1.5B | $3.5B | $2.5B | $2.2B | $2.5B | $4.9B | $5.3B |
| Net debt | $1.4B | $2.4B | $2.0B | $1.3B | $149.0M | -$577.0M | -$258.0M | $680.0M | $2.5B | $3.2B |
| Shareholders' equity | $2.7B | $3.5B | $3.8B | $4.3B | $3.0B | $3.8B | $3.8B | $4.1B | $4.4B | $4.1B |
Latest filings
| 2026-10-20 | 8-K | Earnings release |
| 2026-08-04 | 10-Q | Quarterly report |
| 2026-07-21 | 8-K | Earnings release |
| 2026-05-07 | 10-Q | Quarterly report |
| 2026-04-20 | 8-K | Earnings release |
| 2026-03-30 | DEF 14A | Proxy statement |
| 2026-02-12 | 10-K | Annual report |
| 2026-01-22 | 8-K | Earnings release |
| 2025-11-06 | 10-Q | Quarterly report |
| 2025-10-24 | 8-K | Earnings release |
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