Tearsheet

Alaska Air (ALK)

Market Price (9/17/2025): $57.61 | Market Cap: $6.8 Bil
Sector: Industrials | Industry: Passenger Airlines

Alaska Air (ALK)

Market Price (9/17/2025): $57.61
Market Cap: $6.8 Bil
Sector: Industrials
Industry: Passenger Airlines

Investment Highlights

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 28%	Weak multi-year price returns 2Y Excs Rtn is -4.5%, 3Y Excs Rtn is -39%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 62%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
2	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37%

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 28%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
2	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37%
3	Weak multi-year price returns 2Y Excs Rtn is -4.5%, 3Y Excs Rtn is -39%
4	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 62%

Market Valuation

	9/17/25	2024	2023	2022	2021
Share Price CYE	$57.61	$64.75	$39.07	$42.94	$52.10
Market Cap CYE ($ Bil)	6.8	8.2	5.0	5.5	6.5
Total Debt ($ Bil)	6.4	6.4	3.8	3.8	4.1
Total Cash ($ Bil)	2.1	2.5	1.8	2.4	3.1
Enterprise Value ($ Bil)	11.1	14.6	8.8	9.3	10.6
Valuation Ratios
P/S TTM	0.5	0.7	0.5	0.6	1.1
P/EBIT TTM	11.3	11.9	11.9	31.4	8.7
P/E TTM	21.9	20.7	21.2	93.8	13.6
Sector Ratios
P/S TTM (Sector)	1.6	1.4	1.4	1.1	1.6
P/EBIT TTM (Sector)	11.4	10.2	10.0	8.3	12.1
P/E TTM (Sector)	16.6	13.7	13.9	11.2	15.6

	9/17/25	2024	2023
Share Price CYE	$57.61	$64.75	$39.07
Market Cap CYE ($ Bil)	6.8	8.2	5.0
Total Debt ($ Bil)	6.4	6.4	3.8
Total Cash ($ Bil)	2.1	2.5	1.8
Enterprise Value ($ Bil)	11.1	14.6	8.8
Valuation Ratios
P/S TTM	0.5	0.7	0.5
P/EBIT TTM	11.3	11.9	11.9
P/E TTM	21.9	20.7	21.2
Sector Ratios
P/S TTM (Sector)	1.6	1.4	1.4
P/EBIT TTM (Sector)	11.4	10.2	10.0
P/E TTM (Sector)	16.6	13.7	13.9

Stock Price
Market Cap

Stock Price Chart

Return (1Y):

Market Cap Chart

Business Description

Alaska Air Group, Inc., through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Show more

Price Returns Compared

Expand for Detailed View

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
ALK Return	-23%	0%	-18%	-9%	66%	-11%	-6%
Peers Return	-32%	0%	-27%	3%	55%	-13%	-31%
S&P 500 Return	16%	27%	-19%	24%	23%	12%	104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: DAL, UAL, LUV, JBLU, AAL. See ALK Returns vs. Peers.
[3] 2025 data is for the year up to 9/16/2025 (YTD)

Interactive Breakdown

Alaska Air Interactive Breakdown Analysis

Better Bets than Alaska Air (ALK)

	ALK	Better Performance than ALK
Metric	Value	Industry (Passenger Airlines)
Rev Chg LTM	27.8%
Rev Chg 3Y Avg	18.6%	UAL (18.8%)
Op Mgn LTM	6.0%	DAL (9.3%), UAL (9.3%), AL (21.2%), CPA (22.1%), SKYW (15.2%)
CFO/Rev LTM	10.6%	DAL (12.0%), UAL (16.6%), AL (61.0%), CPA (29.1%), SKYW (20.8%)
FCF/Rev LTM	-0.1%	DAL (3.8%), UAL (7.0%), AAL (2.9%), CPA (29.1%), SKYW (6.6%)
Total Yield	4.6%	DAL (12.5%), UAL (9.8%), LUV (4.8%), AAL (6.9%), AL (15.1%)

	ALK	Better Performance than ALK
Metric	Value	Sector (Industrials)
Rev Chg LTM	27.8%	AXON (32.4%), RKLB (54.4%), FTAI (55.9%), J (61.5%), QXO (3313.1%)
Rev Chg 3Y Avg	18.6%	UBER (23.2%), EMR (24.9%), CP (23.8%), AXON (34.1%), PWR (20.5%)
Op Mgn LTM	6.0%	GE (19.1%), RTX (10.0%), CAT (18.2%), UBER (9.5%), ETN (18.8%)
CFO/Rev LTM	10.6%	GE (15.8%), CAT (18.0%), UBER (18.6%), ETN (15.6%), HON (15.5%)
FCF/Rev LTM	-0.1%	GE (13.2%), RTX (3.2%), CAT (12.3%), UBER (18.0%), GEV (7.4%)
Total Yield	4.6%	CAT (5.9%), UBER (6.2%), HON (6.4%), UNP (7.9%), DE (5.4%)

	ALK	Better Performance than ALK
Metric	Value	All Other Sectors
Rev Chg LTM	27.8%	NVDA (71.6%), AVGO (28.0%), LLY (36.8%), PLTR (38.8%), APP (48.2%)
Rev Chg 3Y Avg	18.6%	NVDA (92.0%), AVGO (24.0%), LLY (23.4%), PLTR (25.7%), APP (23.7%)
Op Mgn LTM	6.0%	NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), AMZN (11.4%)
CFO/Rev LTM	10.6%	NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), GOOGL (36.0%), AMZN (18.1%)
FCF/Rev LTM	-0.1%	NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), AMZN (2.0%)
Total Yield	4.6%	BRK-B (5.9%), JPM (6.6%), XOM (9.7%), JNJ (8.2%), HD (5.7%)

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Alaska Air Earnings Notes
2	Alaska Air vs Cal-Maine Foods: Which Is A Better Investment?	Counter-Intuitive Comparisons
3	Alaska Air vs Willis Lease Finance: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	ALK Dips 6.7% In One Day: Does It Lead the Pack?	Peer Comparison
5	Better Bet Than ALK Stock: Pay Less Than Alaska Air To Get More From PR, CALM
6	ALK Dip Buy Analysis
7	Day 10 of Gains Streak for Alaska Air Stock with 27% Return (vs. -19% YTD) [5/9/2025]	Notification
8	Alaska Air Total Shareholder Return (TSR): 65.7% in 2024 and 7.5% 3-yr compounded annual returns (above peer average)
9	Alaska Air (ALK) Operating Cash Flow Comparison	Financials
10	Alaska Air (ALK) Net Income Comparison	Financials
11	ARTICLES
12	What’s Behind The 20% Rise In Alaska Air Stock This Month?		December 18th, 2024
13	What’s Happening With Alaska Air Stock?		September 12th, 2024
14	How Profitable Is Alaska Air?		June 25th, 2024
15	Should You Pick Alaska Airlines Stock At $45 After Q1 Beat?		April 22nd, 2024
16	Should You Pick Alaska Air Stock At $37 After Q4 Beat?		January 29th, 2024

	Title
0	DASHBOARDS
1	What’s Behind The 20% Rise In Alaska Air Stock This Month?
2	What’s Happening With Alaska Air Stock?
3	How Profitable Is Alaska Air?
4	Should You Pick Alaska Airlines Stock At $45 After Q1 Beat?
5	Should You Pick Alaska Air Stock At $37 After Q4 Beat?
6	ARTICLES
7	Alaska Air Earnings Notes
8	Alaska Air vs Cal-Maine Foods: Which Is A Better Investment?
9	Alaska Air vs Willis Lease Finance: Which Is A Better Investment?
10	ALK Dips 6.7% In One Day: Does It Lead the Pack?
11	Better Bet Than ALK Stock: Pay Less Than Alaska Air To Get More From PR, CALM
12	ALK Dip Buy Analysis
13	Day 10 of Gains Streak for Alaska Air Stock with 27% Return (vs. -19% YTD) [5/9/2025]
14	Alaska Air Total Shareholder Return (TSR): 65.7% in 2024 and 7.5% 3-yr compounded annual returns (above peer average)
15	Alaska Air (ALK) Operating Cash Flow Comparison
16	Alaska Air (ALK) Net Income Comparison

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FGI	FGI Industries	139.3%	145.2%
2	CODX	Co-Diagnostics	80.8%	-14.8%
3	CNFR	Conifer	55.5%	50.4%
4	BGI	Birks	55.4%	-18.1%
5	FLUX	Flux Power	52.2%	99.4%
6	BOXL	Boxlight	45.7%	32.1%
7	LVRO	Lavoro	45.5%	-57.4%
8	NFE	New Fortress Energy	44.9%	-86.8%
9	WBTN	Webtoon Entertainment	39.0%	53.2%
10	HCWC	Healthy Choice Wellness	37.5%	-34.7%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	REX	REX American Resources	-50.1%	46.1%
2	XAGE	Longevity Health	-39.3%	-86.1%
3	BNGO	Bionano Genomics	-35.7%	-89.7%
4	IHT	InnSuites Hospitality Trust	-30.7%	7.3%
5	LUD	Luda Technology	-28.6%
6	NAOV	NanoVibronix	-28.5%	-88.2%
7	GDC	GD Culture	-28.2%	269.8%
8	ASST	Strive	-28.0%	813.4%
9	BIAF	bioAffinity Technologies	-25.5%	-71.3%
10	FAAS	DigiAsia	-23.9%	-87.2%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	BDSX	Biodesix	1313.2%	-78.6%
2	CLSD	Clearside Biomedical	954.0%	-74.9%
3	SDOT	Sadot	624.1%	-79.4%
4	WLDS	Wearable Devices	498.0%	-30.0%
5	CHEK	Check-Cap	285.6%	154.6%
6	ATCH	AtlasClear	275.9%	-91.0%
7	HSDT	Helius Medical Technologies	262.5%	-95.6%
8	OPI	Office Properties Income Trust	261.7%	-13.4%
9	FGI	FGI Industries	156.8%	145.2%
10	AIRE	ReAlpha Tech	154.0%	-56.1%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	NAKA	Kindly MD	-81.4%
2	ATYR	aTyr Pharma	-79.7%	-70.2%
3	LGCL	Lucas GC	-73.6%	-77.1%
4	EPSM	Epsium Enterprise	-70.1%
5	BNGO	Bionano Genomics	-59.4%	-89.7%
6	FAAS	DigiAsia	-58.5%	-87.2%
7	QMMM	QMMM	-57.5%	6775.0%
8	VCIG	VCI Global	-56.9%	-99.1%
9	YYGH	YY	-56.6%	-78.5%
10	XAGE	Longevity Health	-55.5%	-86.1%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	11963.5%	11963.5%
2	GIBO	GIBO	9734.4%
3	CHSN	Chanson International	7565.0%	-99.3%
4	LNZA	LanzaTech Global	7287.5%	-86.0%
5	QMMM	QMMM	3031.7%	6775.0%
6	OESX	Orion Energy Systems	1497.9%	22.9%
7	CURX	Curanex Pharmaceuticals	1401.6%	1401.6%
8	ENTO	Entero Therapeutics	565.6%	117.6%
9	PTNM	Pitanium	553.2%
10	WLDS	Wearable Devices	449.5%	-30.0%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	CJET	Chijet Motor	-92.2%	-95.0%
2	STFS	Star Fashion Culture	-92.2%	-97.8%
3	ELPW	Elong Power	-91.6%	-76.7%
4	NXTT	Next Technology	-89.6%	-95.1%
5	NAKA	Kindly MD	-89.0%
6	BINI	Bollinger Innovations	-88.9%	-100.0%
7	JEM	707 Cayman	-88.4%	-98.2%
8	YAAS	Youxin Technology	-82.5%	-98.3%
9	NEON	Neonode	-82.0%	-50.2%
10	NVNO	enVVeno Medical	-81.5%	-69.8%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FGI	FGI Industries	139.3%	145.2%
2	CODX	Co-Diagnostics	80.8%	-14.8%
3	CNFR	Conifer	55.5%	50.4%
4	BGI	Birks	55.4%	-18.1%
5	FLUX	Flux Power	52.2%	99.4%
6	BOXL	Boxlight	45.7%	32.1%
7	LVRO	Lavoro	45.5%	-57.4%
8	NFE	New Fortress Energy	44.9%	-86.8%
9	WBTN	Webtoon Entertainment	39.0%	53.2%
10	HCWC	Healthy Choice Wellness	37.5%	-34.7%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	REX	REX American Resources	-50.1%	46.1%
2	XAGE	Longevity Health	-39.3%	-86.1%
3	BNGO	Bionano Genomics	-35.7%	-89.7%
4	IHT	InnSuites Hospitality Trust	-30.7%	7.3%
5	LUD	Luda Technology	-28.6%
6	NAOV	NanoVibronix	-28.5%	-88.2%
7	GDC	GD Culture	-28.2%	269.8%
8	ASST	Strive	-28.0%	813.4%
9	BIAF	bioAffinity Technologies	-25.5%	-71.3%
10	FAAS	DigiAsia	-23.9%	-87.2%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	BDSX	Biodesix	1313.2%	-78.6%
2	CLSD	Clearside Biomedical	954.0%	-74.9%
3	SDOT	Sadot	624.1%	-79.4%
4	WLDS	Wearable Devices	498.0%	-30.0%
5	CHEK	Check-Cap	285.6%	154.6%
6	ATCH	AtlasClear	275.9%	-91.0%
7	HSDT	Helius Medical Technologies	262.5%	-95.6%
8	OPI	Office Properties Income Trust	261.7%	-13.4%
9	FGI	FGI Industries	156.8%	145.2%
10	AIRE	ReAlpha Tech	154.0%	-56.1%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	NAKA	Kindly MD	-81.4%
2	ATYR	aTyr Pharma	-79.7%	-70.2%
3	LGCL	Lucas GC	-73.6%	-77.1%
4	EPSM	Epsium Enterprise	-70.1%
5	BNGO	Bionano Genomics	-59.4%	-89.7%
6	FAAS	DigiAsia	-58.5%	-87.2%
7	QMMM	QMMM	-57.5%	6775.0%
8	VCIG	VCI Global	-56.9%	-99.1%
9	YYGH	YY	-56.6%	-78.5%
10	XAGE	Longevity Health	-55.5%	-86.1%

Peer Comparisons for Alaska Air

Financials

	ALK	DAL	UAL	LUV	JBLU	AAL	Median
Name	Alaska A.	Delta Ai.	United A.	Southwes.	JetBlue .	American.
Mkt Price	57.60	57.86	104.20	31.57	5.07	12.41	44.59
Mkt Cap	6.8	37.6	33.8	17.0	1.8	8.2	12.6
Rev LTM	13,447	61,924	57,986	27,472	9,138	54,250	40,861
Op Inc LTM	806	5,785	5,404	318	-138	2,744	1,775
FCF LTM	-8	2,332	4,044	-273	-1,245	1,563	778
FCF 3Y Avg	-341	1,414	1,670	-1,171	-1,094	904	281
CFO LTM	1,427	7,403	9,649	1,850	-47	4,094	2,972
CFO 3Y Avg	1,177	6,927	8,061	1,900	208	3,485	2,692

Growth & Margins

	ALK	DAL	UAL	LUV	JBLU	AAL	Median
Name	Alaska A.	Delta Ai.	United A.	Southwes.	JetBlue .	American.
Rev Chg LTM	27.8%	3.0%	4.2%	1.6%	-1.9%	1.5%	2.3%
Rev Chg 3Y Avg	18.6%	14.7%	18.8%	9.3%	5.4%	10.8%	12.8%
Rev Chg Q	27.9%	-0.1%	1.7%	-1.5%	-3.0%	0.4%	0.2%
QoQ Delta Rev Chg LTM	6.4%	-0.0%	0.4%	-0.4%	-0.8%	0.1%	0.0%
Op Mgn LTM	6.0%	9.3%	9.3%	1.2%	-1.5%	5.1%	5.5%
Op Mgn 3Y Avg	7.2%	9.5%	9.5%	0.7%	-0.2%	6.6%	6.9%
QoQ Delta Op Mgn LTM	-1.5%	-0.3%	-0.4%	-0.6%	-0.3%	-0.4%	-0.4%
CFO/Rev LTM	10.6%	12.0%	16.6%	6.7%	-0.5%	7.5%	9.1%
CFO/Rev 3Y Avg	10.3%	11.7%	14.7%	7.3%	2.1%	6.5%	8.8%
FCF/Rev LTM	-0.1%	3.8%	7.0%	-1.0%	-13.6%	2.9%	1.4%
FCF/Rev 3Y Avg	-3.3%	2.3%	3.0%	-4.5%	-11.8%	1.7%	-0.8%

Valuation

	ALK	DAL	UAL	LUV	JBLU	AAL	Median
Name	Alaska A.	Delta Ai.	United A.	Southwes.	JetBlue .	American.
Mkt Cap	6.8	37.6	33.8	17.0	1.8	8.2	12.6
P/S	0.5	0.6	0.6	0.6	0.2	0.2	0.5
P/EBIT	11.3	5.9	6.1	25.4	261.7	3.2	8.7
P/E	21.9	8.4	10.2	43.3	-4.7	14.4	12.3
P/CFO	4.8	5.1	3.5	9.2	-39.0	2.0	4.2
Total Yield	4.6%	12.5%	9.8%	4.8%	-21.1%	6.9%	5.9%
Dividend Yield	0.0%	0.5%	0.0%	2.5%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	-5.6%	4.5%	6.8%	-6.2%	-58.1%	9.0%	-0.5%
D/E	0.9	0.6	1.0	0.3	5.1	4.5	1.0
Net D/E	0.6	0.5	0.5	0.1	3.5	3.5	0.6

Returns

	ALK	DAL	UAL	LUV	JBLU	AAL	Median
Name	Alaska A.	Delta Ai.	United A.	Southwes.	JetBlue .	American.
1M Rtn	0.4%	-4.0%	3.2%	0.8%	-2.9%	-5.8%	-1.2%
3M Rtn	23.3%	22.7%	41.4%	1.6%	20.4%	17.5%	21.6%
6M Rtn	10.0%	26.8%	46.1%	-1.4%	-8.5%	12.1%	11.1%
12M Rtn	39.3%	29.2%	103.0%	13.1%	-12.4%	14.8%	22.0%
3Y Rtn	29.8%	84.7%	178.0%	-2.7%	-36.0%	-9.7%	13.5%
1M Excs Rtn	-2.0%	-6.4%	0.8%	-1.6%	-5.3%	-8.2%	-3.7%
3M Excs Rtn	8.5%	7.9%	23.2%	-10.3%	1.4%	4.3%	6.1%
6M Excs Rtn	-12.0%	7.8%	24.5%	-17.0%	-27.0%	-6.8%	-9.4%
12M Excs Rtn	26.1%	14.2%	91.8%	-6.2%	-32.4%	-4.0%	5.1%
3Y Excs Rtn	-38.7%	19.1%	103.0%	-74.4%	-101.1%	-75.0%	-56.6%

Comparison Analyses

	Title
0	ALK Dips 6.7% In One Day: Does It Lead the Pack?
1	DAL or ALK - With 50% Return Forecast, ALK Probably Deserves Your Money
2	Alaska Air vs. Southwest Airlines: With Return Forecast Of 29%, Alaska Air Is A Better Bet
3	Why ALK With 50% Upside May Beat UAL?
4	With 47% Gains On The Table, ALK May Outshine AAL
5	ALK Could Deliver 50% Returns And Outperform JBLU
6	Alaska Air vs. Atlas Air Worldwide: With Return Forecast Of 35%, Atlas Air Worldwide Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	6/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	8/7/2025	2/14/2025	2/14/2024	2/13/2023	2/11/2022	2/26/2021	2/12/2020
Key Financials
Total Revenue	13,447	11,735	10,426	9,646	6,176	3,566	8,781
EBITDA	1,328	1,270	868	588	1,140	-1,333	1,502
Operating Income	806	915	837	650	674	-922	1,107
Net Income	313	395	235	58	478	-1,324	769
EPS	2.53	3.13	1.84	0.46	3.82	-10.72	6.24
Growth Rates
Total Revenue Growth	27.8%	12.6%	8.1%	56.2%	73.2%	-59.4%	6.3%
EBITDA Growth	42.2%	46.3%	47.6%	-48.4%	185.5%	-188.7%	42.2%
Operating Income Growth	4.4%	9.3%	28.8%	-3.6%	173.1%	-183.3%	42.8%
Net Income Growth	39.1%	68.1%	305.2%	-87.9%	136.1%	-272.2%	76.0%
Margins
EBITDA Margin	9.9%	10.8%	8.3%	6.1%	18.5%	-37.4%	17.1%
Operating Income Margin	6.0%	7.8%	8.0%	6.7%	10.9%	-25.9%	12.6%
Net Income Margin	2.3%	3.4%	2.3%	0.6%	7.7%	-37.1%	8.8%
Cash & Debt
Total Cash	2,124	2,475	1,791	2,417	3,116	3,346	1,521
Total Debt	6,373	6,393	3,818	3,780	4,086	5,053	3,207
Net Debt / (Cash)	4,249	3,918	2,027	1,363	970	1,707	1,686
Cash Flows
Net Cash from Operations	1,427	1,464	1,050	1,418	1,030	-234	1,722
Free Cash from Operations	-8	183	-444	-253	738	-456	1,026
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	45	173
Share Repurchases	798	312	137	-0	-0	31	75

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	8/7/2025	5/8/2025	2/14/2025	11/8/2024	8/2/2024	5/3/2024	2/14/2024	11/2/2023	8/2/2023	5/5/2023	2/13/2023	11/3/2022
Key Financials Quarterly
Total Revenue	3,704	3,137	3,534	3,072	2,897	2,232	2,553	2,839	2,838	2,196	2,479	2,828
Ebitda	494	15	315	504	474	-23	150	333	459	-74	158	197
Operating Income	333	-106	164	415	468	-132	69	367	523	-122	137	307
Net Income	172	-166	71	236	220	-132	-2	139	240	-142	22	40
EPS	1.45	-1.35	0.56	1.87	1.74	-1.05	-0.02	1.09	1.88	-1.11	0.17	0.32
Key Financials TTM
Total Revenue TTM	13,447	12,640	11,735	10,754	10,521	10,462	10,426	10,352	10,341	10,161	9,646	9,066
Ebitda TTM	1,328	1,308	1,270	1,105	934	919	868	876	740	593	588	584
Operating Income TTM	806	941	915	820	772	827	837	905	845	655	650	548
Net Income TTM	313	361	395	322	225	245	235	259	160	59	58	54
Growth Rates Quarterly
Total Revenue Growth	27.9%	40.5%	38.4%	8.2%	2.1%	1.6%	3.0%	0.4%	6.8%	30.6%	30.5%	44.8%
EBITDA Growth	4.2%	165.2%	110.0%	51.4%	3.3%	68.9%	-5.1%	69.0%	47.1%	6.3%	2.6%	-46.9%
Operating Income Growth	-28.8%	19.7%	137.7%	13.1%	-10.5%	-8.2%	-49.6%	19.5%	57.1%	3.9%	291.4%	23.3%
Net Income Growth	-21.8%	-25.8%	3650.0%	69.8%	-8.3%	7.0%	-109.1%	247.5%	72.7%	0.7%	22.2%	-79.4%
Margins Quarterly
EBITDA Margin	13.3%	0.5%	8.9%	16.4%	16.4%	-1.0%	5.9%	11.7%	16.2%	-3.4%	6.4%	7.0%
Operating Income Margin	9.0%	-3.4%	4.6%	13.5%	16.2%	-5.9%	2.7%	12.9%	18.4%	-5.6%	5.5%	10.9%
Net Income Margin	4.6%	-5.3%	2.0%	7.7%	7.6%	-5.9%	-0.1%	4.9%	8.5%	-6.5%	0.9%	1.4%
Cash & Debt
Total Cash	2,124	2,464	2,475	2,505	2,509	2,278	1,791	2,451	2,442	2,429	2,417	3,150
Total Debt	6,373	6,276	6,393	6,142	3,875	3,821	3,818	4,127	3,886	3,731	3,780	3,955
Net Debt / (Cash)	4,249	3,812	3,918	3,637	1,366	1,543	2,027	1,676	1,444	1,302	1,363	805
Cash Flows Quarterly
FCF from Operations	376	459	274	318	580	292	-53	271	610	222	9	174
Cash Flows TTM
FCF from Operations TTM	1,427	1,631	1,464	1,137	1,090	1,120	1,050	1,112	1,015	1,353	1,418	1,538
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	430	105	249	14	29	20	67	13	39	18	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	22.7%	-7.9%	15.0%	32.8%	95.4%	-25.4%	13.6%	63.1%	107.0%	-26.7%	25.3%	93.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	14.4%	18.2%	16.9%	15.4%	38.0%	38.2%	30.0%	39.5%	41.4%	34.5%	35.0%	50.4%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Alaska Airlines	8,853	8,081
Regional	1,565	1,561	1,147	734	1,394
Other Revenue	8	4
Hawaiian Airlines	0	0
Consolidating & Other			-402	-383	-445
Horizon			406	386	451
Mainline			5,025	2,829	7,381
Special Items			0	0
Total	10,426	9,646	6,176	3,566	8,781

Assets by Segment

$ Mil	2024	2020
Alaska Airlines	19,937
Hawaiian Airlines	0
Consolidating & Other	-5,324	-7,480
Horizon		1,266
Mainline		19,207
Total	14,613	12,993

Price Behavior

Behavior Stats
Betas Matrix

Price Behavior

Market Price	$57.60
Market Cap ($ Bil)	6.8
First Trading Date	01/03/1983
Distance from 52W High	-24.8%
	50 Days	200 Days
DMA Price	$56.38	$57.14
DMA Trend	up	up
Distance from DMA	2.2%	0.8%
	3M	1YR
Volatility	44.7%	51.8%
Downside Capture	175.97	116.70
Upside Capture	195.49	130.41
Correlation (SPY)	51.0%	60.0%

ALK Betas & Captures as of 8/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.96	3.06	2.94	1.86	1.58	1.33
Up Beta	4.10	4.19	4.07	1.92	1.86	1.51
Down Beta	1.23	1.76	2.74	1.66	1.67	1.38
Up Capture	407%	374%	282%	207%	189%	159%
Bmk +ve Days	10	22	35	71	142	415
Stock +ve Days	12	22	34	63	130	380
Down Capture	174%	200%	236%	168%	103%	104%
Bmk -ve Days	11	19	27	54	106	334
Stock -ve Days	9	19	28	62	117	368

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date	8292025
Short Interest: Shares Quantity	5,644,215
Short Interest: % Change Since 8152025	17.9%
Average Daily Volume	2,137,162
Days-to-Cover Short Interest	2.64
Basic Shares Quantity	118,847,000
Short % of Basic Shares	4.7%

Returns Analyses

	Title
0	ALK Fell 6.7% In A Day. What To Do Now?
1	Alaska Air During 2008 Recession vs. 2022 Inflation Shock: ALK Stock Has 25% Upside If It Recovers To Pre-Inflation Shock Levels
2	ALK YTD Stock Return Of -17% Outperforms JBLU by 38% and Underperforms UAL by -4.8%
3	Alaska Air (ALK) Stock Has 55% Chance Of Rise In The Next One Month
4	Alaska Air Stock Return Comparison

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
7/23/2025	-5.7%	-1.0%	1.9%
4/23/2025	-10.0%	-4.0%	8.7%
1/22/2025	2.2%	7.1%	4.1%
10/31/2024	1.4%	9.2%	11.3%
7/17/2024	-6.9%	-5.5%	-11.8%
4/18/2024	1.3%	0.2%	-2.6%
1/25/2024	4.5%	0.0%	7.9%
10/19/2023	-0.4%	-1.2%	14.3%
...
SUMMARY STATS
# Positive	14	12	15
# Negative	10	12	9
Median Positive	2.0%	1.7%	7.9%
Median Negative	-1.4%	-4.1%	-8.2%
Max Positive	4.5%	9.2%	36.6%
Max Negative	-10.0%	-9.4%	-20.3%

	Forward Returns
7/23/2025	-5.7%	-1.0%	1.9%
4/23/2025	-10.0%	-4.0%	8.7%
1/22/2025	2.2%	7.1%	4.1%
10/31/2024	1.4%	9.2%	11.3%
7/17/2024	-6.9%	-5.5%	-11.8%
4/18/2024	1.3%	0.2%	-2.6%
1/25/2024	4.5%	0.0%	7.9%
10/19/2023	-0.4%	-1.2%	14.3%
7/25/2023	-0.7%	-0.6%	-11.5%
4/20/2023	2.0%	-1.4%	2.2%
1/26/2023	-0.6%	4.4%	-6.6%
10/20/2022	2.8%	8.5%	17.1%
7/21/2022	-1.0%	1.9%	5.2%
4/21/2022	0.2%	-7.5%	-20.3%
1/27/2022	-0.7%	1.2%	6.7%
10/21/2021	-1.8%	-7.9%	-8.2%
7/22/2021	0.5%	1.5%	-6.3%
4/22/2021	3.4%	2.4%	1.7%
1/26/2021	-2.0%	-5.7%	27.5%
10/22/2020	2.4%	-9.4%	17.6%
7/23/2020	1.0%	-4.2%	-1.5%
5/5/2020	0.7%	-1.4%	36.6%
1/28/2020	2.1%	0.4%	-18.7%
10/24/2019	4.1%	1.0%	0.5%
SUMMARY STATS
# Positive	14	12	15
# Negative	10	12	9
Median Positive	2.0%	1.7%	7.9%
Median Negative	-1.4%	-4.1%	-8.2%
Max Positive	4.5%	9.2%	36.6%
Max Negative	-10.0%	-9.4%	-20.3%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
6302025	8072025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	2142025	10-K 12/31/2024
9302024	11082024	10-Q 9/30/2024
6302024	8022024	10-Q 6/30/2024
3312024	5032024	10-Q 3/31/2024
12312023	2142024	10-K 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8022023	10-Q 6/30/2023
3312023	5052023	10-Q 3/31/2023
12312022	2132023	10-K 12/31/2022
9302022	11032022	10-Q 9/30/2022
6302022	8022022	10-Q 6/30/2022
3312022	5052022	10-Q 3/31/2022
12312021	2112022	10-K 12/31/2021
9302021	11042021	10-Q 9/30/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	LEVINE KYLE B	SVP LEGAL & GEN COUNSEL	8192025	Sell	57.75	5,914	341,534	1,207,957	Form
1	TACKETT SHANE R	EVP AND CFO	8142025	Sell	57.06	5,000	285,315	2,472,825	Form
2	HARRISON ANDREW R	EVP AND CCO	7292025	Sell	53.22	7,600	404,501	1,007,527	Form
3	HALVERSON EMILY	VP Finance, Controller & Treas	6062025	Sell	51.37	2,156	110,756	442,407	Form
4	HARRISON ANDREW R	EVP AND CCO	5202025	Sell	53.51	7,500	401,330	1,419,639	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Alaska Air (ALK)

Market Price (9/17/2025): $57.61 | Market Cap: $6.8 BilSector: Industrials | Industry: Passenger Airlines

Alaska Air (ALK)

Market Price (9/17/2025): $57.61Market Cap: $6.8 BilSector: IndustrialsIndustry: Passenger Airlines

Investment Highlights

Market Valuation

Stock Price Chart

Market Cap Chart

Business Description

Price Returns Compared

Interactive Breakdown

Better Bets than Alaska Air (ALK)

Latest Trefis Analyses

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Alaska Air

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Financials

Segment Financials

Price Behavior

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (9/17/2025): $57.61 | Market Cap: $6.8 Bil
Sector: Industrials | Industry: Passenger Airlines

Market Price (9/17/2025): $57.61
Market Cap: $6.8 Bil
Sector: Industrials
Industry: Passenger Airlines