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Investment Highlights Market Valuation Price Chart Return vs. Risk About ALK Interactive Breakdown Better Bets vs. ALK Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Alaska Air (ALK)

Market Price (10/26/2025): $43.94 | Market Cap: $5.2 Bil
Sector: Industrials | Industry: Passenger Airlines

Alaska Air (ALK)

Market Price (10/26/2025): $43.94
Market Cap: $5.2 Bil
Sector: Industrials
Industry: Passenger Airlines

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.0%		 Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -79%		 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 82%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 28%		  
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%		  
3 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 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.0%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 28%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
3 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%
4 Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -79%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 82%

Market Valuation & Key Metrics

ALKS&P 500
REVENUE GROWTHVERY GOOD
Rev LTM ($ Bil)13.4
Rev Chg Q27.9%6.4%
Rev Chg LTM27.8%5.3%
Rev Chg 3Y Avg18.6%5.4%
PROFITABILITYPOOR
Op Inc LTM ($ Bil)0.8
CFO LTM ($ Bil)1.4
Net Inc LTM ($ Bil)0.3
Op Mgn LTM6.0%18.7%
CFO/Rev LTM10.6%20.5%
Net Inc Mgn2.3%12.7%
VALUATIONLOW
P/S0.43.3
P/CFO3.716.1
P/FCF-652.820.9
P/E16.724.0
STABILITYFAIR
Debt/Equity1.220.21
Cash/Assets0.110.07

ALK Stock

   
   
   
   
   
   
   

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
ALK Return-23%0%-18%-9%66%-32%-35%
Peers Return-32%0%-27%3%55%-12%-31%
S&P 500 Return16%27%-19%24%23%15%110%

Monthly Win Rates [3]
ALK Win Rate58%42%50%50%58%44% 
Peers Win Rate42%45%47%42%63%44% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
ALK Max Drawdown-65%-11%-26%-28%-16%-37% 
Peers Max Drawdown-66%-12%-35%-21%-17%-43% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: DAL, UAL, LUV, JBLU, AAL. See ALK Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/24/2025 (YTD)

How Low Can It Go

Unique KeyEventALKS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-57.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven137.3%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven456 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-65.4%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven189.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven360 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-46.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven87.0%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-75.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven311.8%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven639 days1480 days

Compare to DAL, UAL, LUV, JBLU, AAL


In The Past

Alaska Air's stock fell -57.9% during the 2022 Inflation Shock from a high on 4/6/2021. A -57.9% loss requires a 137.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Alaska Air (ALK)

Interactive Breakdown

Alaska Air Interactive Breakdown Analysis

Better Bets than Alaska Air (ALK)

 ALKBetter Performance than ALK
MetricValueIndustry (Passenger Airlines)
Rev Chg LTM27.8%
Rev Chg 3Y Avg18.6%
Op Mgn LTM6.0%DAL (9.7%), UAL (8.8%), AL (21.2%), CPA (22.1%), SKYW (15.2%)
CFO/Rev LTM10.6%DAL (12.7%), UAL (16.1%), AL (61.0%), CPA (29.1%), SKYW (20.8%)
FCF/Rev LTM-0.1%DAL (4.9%), UAL (6.4%), AAL (1.6%), CPA (29.1%), SKYW (6.6%)
Total Yield6.0%DAL (12.3%), UAL (10.2%), AAL (6.6%), AL (15.1%), CPA (12.2%)
 ALKBetter Performance than ALK
MetricValueAll Other Sectors
Rev Chg LTM27.8%NVDA (71.6%), AVGO (28.0%), LLY (36.8%), PLTR (38.8%), MU (48.9%)
Rev Chg 3Y Avg18.6%NVDA (92.0%), AVGO (24.0%), LLY (23.4%), PLTR (25.7%), MU (20.3%)
Op Mgn LTM6.0%NVDA (58.1%), AAPL (31.9%), MSFT (45.6%), GOOGL (32.7%), AMZN (11.4%)
CFO/Rev LTM10.6%NVDA (46.6%), AAPL (26.6%), MSFT (48.3%), GOOGL (36.0%), AMZN (18.1%)
FCF/Rev LTM-0.1%NVDA (43.6%), AAPL (23.5%), MSFT (25.4%), GOOGL (18.0%), AMZN (2.0%)
Total Yield6.0%JPM (6.7%), XOM (9.7%), JNJ (8.1%), BABA (36.1%), BAC (6.9%)
 Best Bets In Industrials Sector
 ALKGATX VRSK ADT CPRT NDSN TDG PCTY CSL STRL CSW
What You Pay           
P/E16.618.135.911.727.829.340.939.711.940.429.6
P/EBIT8.68.724.85.625.519.819.930.013.226.822.9
What You Get           
Rev Chg Q27.9%11.3%7.8%6.8%5.2%12.1%9.3%12.2%-0.1%5.4%16.6%
Rev Chg LTM27.8%11.7%7.6%6.6%9.7%4.5%12.8%7.0%4.4%3.3%12.3%
Rev Chg 3Y Avg18.6%9.8%10.0%2.6%9.9%3.6%18.2%22.7%5.2%12.2%11.3%
FCF/Rev 3Y Avg-3.3%38.6%32.4%24.1%23.7%21.5%20.8%20.5%18.3%18.2%18.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Alaska Air Earnings Notes  
2Alaska Air Stock Lost 6.1%, Buy Or Wait?Return 
3Is The 24.1% Decline In Alaska Air (ALK) Stock A Dip Buying Opportunity?Actionable 
4Is The 20.3% Decline In Alaska Air (ALK) Stock A Dip Buying Opportunity?Actionable 
5Alaska Air vs Cal-Maine Foods: Which Is A Better Investment?Counter-Intuitive Comparisons 
6Alaska Air vs Willis Lease Finance: Which Is A Better Investment?Counter-Intuitive Comparisons 
7Is Alaska Air Stock Outperforming Its Rivals?Peer Comparison 
8Better Bet Than ALK Stock: Pay Less Than Alaska Air To Get More From PR, CALM   
9ALK Dip Buy Analysis  
10Day 10 of Gains Streak for Alaska Air Stock with 27% Return (vs. -19% YTD) [5/9/2025]Notification 
11ARTICLES  
12After A 24% Slide, Is ALK Stock Worth A Look? October 2nd, 2025
13ALK Stock Sinks 20%, Is A Rebound Coming? September 27th, 2025
14Time To Buy Alaska Air Stock? September 23rd, 2025
15What’s Behind The 20% Rise In Alaska Air Stock This Month? December 18th, 2024
16What’s Happening With Alaska Air Stock? September 12th, 2024
Title
0DASHBOARDS
1After A 24% Slide, Is ALK Stock Worth A Look?
2ALK Stock Sinks 20%, Is A Rebound Coming?
3Time To Buy Alaska Air Stock?
4What’s Behind The 20% Rise In Alaska Air Stock This Month?
5What’s Happening With Alaska Air Stock?
6ARTICLES
7Alaska Air Earnings Notes
8Alaska Air Stock Lost 6.1%, Buy Or Wait?
9Is The 24.1% Decline In Alaska Air (ALK) Stock A Dip Buying Opportunity?
10Is The 20.3% Decline In Alaska Air (ALK) Stock A Dip Buying Opportunity?
11Alaska Air vs Cal-Maine Foods: Which Is A Better Investment?
12Alaska Air vs Willis Lease Finance: Which Is A Better Investment?
13Is Alaska Air Stock Outperforming Its Rivals?
14Better Bet Than ALK Stock: Pay Less Than Alaska Air To Get More From PR, CALM 
15ALK Dip Buy Analysis
16Day 10 of Gains Streak for Alaska Air Stock with 27% Return (vs. -19% YTD) [5/9/2025]

Trade Ideas

Select past ideas related to ALK. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
FCN_9302025_Dip_Buyer_ValueBuy09302025FCNFTI ConsultingDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-2.4%-2.4%-6.2%
ODFL_9122025_Monopoly_xInd_xCD_Getting_Cheaper09122025ODFLOld Dominion Freight LineMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-6.1%-6.1%-7.3%
EFX_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025EFXEquifaxMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-5.1%-5.1%-8.5%
UHAL_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025UHALU-HaulMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-3.4%-3.4%-5.6%
BWXT_8312025_Quality_Momentum_RoomToRun_10%08312025BWXTBWX TechnologiesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		25.5%25.5%-1.2%
ALK_7312020_Dip_Buyer_FCFYield07312020ALKAlaska AirDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		41.8%68.5%-1.3%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
FCN_9302025_Dip_Buyer_ValueBuy09302025FCNFTI ConsultingDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-2.4%-2.4%-6.2%
ODFL_9122025_Monopoly_xInd_xCD_Getting_Cheaper09122025ODFLOld Dominion Freight LineMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-6.1%-6.1%-7.3%
EFX_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025EFXEquifaxMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-5.1%-5.1%-8.5%
UHAL_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025UHALU-HaulMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-3.4%-3.4%-5.6%
BWXT_8312025_Quality_Momentum_RoomToRun_10%08312025BWXTBWX TechnologiesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		25.5%25.5%-1.2%
ALK_7312020_Dip_Buyer_FCFYield07312020ALKAlaska AirDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		41.8%68.5%-1.3%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1VICRVicor57.5%87.2%
2INBXInhibrx Biosciences53.8%272.0%
3CLBCore Laboratories48.7%-2.4%
4BALYBallys46.2%6.8%
5MOFGMidWestOne Financial43.2%39.2%
6NUVBNuvation Bio42.2%82.3%
7CLOVClover Health Investments41.0%21.3%
8CELCCelcuity36.6%442.2%
9WGOWinnebago Industries33.6%-12.7%
10GTXGarrett Motion33.3%91.3%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-45.4%8328.6%
2ITGRInteger-30.4%-45.0%
3METCRamaco Resources-23.8%244.9%
4WRLDWorld Acceptance-18.6%25.6%
5ASMAvino Silver & Gold Mines-18.2%450.5%
6SESSES AI-17.6%15.5%
7SMPLSimply Good Foods-17.5%-48.0%
8TNGXTango Therapeutics-17.0%142.6%
9OKLOOklo-16.7%540.8%
10LENZLENZ Therapeutics-16.4%10.7%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed1498.4%344.0%
2PRAXPraxis Precision Medicines253.2%126.1%
3NVTSNavitas Semiconductor116.1%294.1%
4SNDKSanDisk97.4% 
5UAMYUnited States Antimony90.3%578.5%
6GRALGRAIL85.2%400.8%
7BALYBallys82.9%6.8%
8ORKAOruka Therapeutics81.1%40.5%
9INBXInhibrx Biosciences79.9%272.0%
10CIFRCipher Mining77.2%345.3%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1VGVenture Global-35.7% 
2PMIPicard Medical-35.3%8328.6%
3SOCSable Offshore-33.7%-41.7%
4FWRDForward Air-28.9%-39.0%
5FLYFirefly Aerospace-28.5% 
6ITGRInteger-28.4%-45.0%
7USNAUsana Health Sciences-26.5%-42.0%
8HTZHertz Global-26.3%41.5%
9RCReady Capital-25.1%-50.3%
10ULHUniversal Logistics-24.8%-61.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1VICRVicor57.5%87.2%
2INBXInhibrx Biosciences53.8%272.0%
3CLBCore Laboratories48.7%-2.4%
4BALYBallys46.2%6.8%
5MOFGMidWestOne Financial43.2%39.2%
6NUVBNuvation Bio42.2%82.3%
7CLOVClover Health Investments41.0%21.3%
8CELCCelcuity36.6%442.2%
9WGOWinnebago Industries33.6%-12.7%
10GTXGarrett Motion33.3%91.3%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-45.4%8328.6%
2ITGRInteger-30.4%-45.0%
3METCRamaco Resources-23.8%244.9%
4WRLDWorld Acceptance-18.6%25.6%
5ASMAvino Silver & Gold Mines-18.2%450.5%
6SESSES AI-17.6%15.5%
7SMPLSimply Good Foods-17.5%-48.0%
8TNGXTango Therapeutics-17.0%142.6%
9OKLOOklo-16.7%540.8%
10LENZLENZ Therapeutics-16.4%10.7%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Alaska Air

Financials

ALKDALUALLUVJBLUAALMedian
NameAlaska A.Delta Ai.United A.Southwes.JetBlue .American. 
Mkt Price43.9460.9099.0032.104.5713.7538.02
Mkt Cap5.239.532.016.81.79.112.9
Rev LTM13,44762,92058,36827,5519,13854,29440,922
Op Inc LTM8066,0725,165315-1382,2591,532
FCF LTM-83,0743,710-250-1,245882437
FCF 3Y Avg-3411,8351,783-1,019-1,094962311
CFO LTM1,4277,9769,3692,024-473,7712,898
CFO 3Y Avg1,1777,2538,2201,9172083,6672,792

Growth & Margins

ALKDALUALLUVJBLUAALMedian
NameAlaska A.Delta Ai.United A.Southwes.JetBlue .American. 
Rev Chg LTM27.8%4.3%4.2%0.6%-1.9%1.3%2.8%
Rev Chg 3Y Avg18.6%10.8%13.2%6.8%5.4%6.5%8.8%
Rev Chg Q27.9%6.4%2.6%1.1%-3.0%0.3%1.9%
QoQ Delta Rev Chg LTM6.4%1.6%0.7%0.3%-0.8%0.1%0.5%
Op Mgn LTM6.0%9.7%8.8%1.1%-1.5%4.2%5.1%
Op Mgn 3Y Avg7.2%9.5%9.2%0.3%-0.2%6.1%6.6%
QoQ Delta Op Mgn LTM-1.5%0.3%-0.5%-0.0%-0.3%-0.9%-0.4%
CFO/Rev LTM10.6%12.7%16.1%7.3%-0.5%6.9%9.0%
CFO/Rev 3Y Avg10.3%12.1%14.8%7.3%2.1%6.9%8.8%
FCF/Rev LTM-0.1%4.9%6.4%-0.9%-13.6%1.6%0.8%
FCF/Rev 3Y Avg-3.3%3.0%3.1%-3.8%-11.8%1.8%-0.7%

Valuation

ALKDALUALLUVJBLUAALMedian
NameAlaska A.Delta Ai.United A.Southwes.JetBlue .American. 
Mkt Cap5.239.532.016.81.79.112.9
P/S0.40.60.50.60.20.20.5
P/EBIT8.66.05.827.3235.93.57.3
P/E16.78.59.744.3-4.315.112.4
P/CFO3.75.03.48.3-35.12.43.5
Total Yield6.0%12.3%10.2%4.6%-23.4%6.6%6.3%
Dividend Yield0.0%0.6%0.0%2.4%0.0%0.0%0.0%
FCF Yield 3Y Avg-5.6%5.7%7.7%-5.9%-58.1%11.6%0.1%
D/E1.20.51.00.35.74.01.1
Net D/E0.80.40.60.13.83.20.7

Returns

ALKDALUALLUVJBLUAALMedian
NameAlaska A.Delta Ai.United A.Southwes.JetBlue .American. 
1M Rtn-14.0%6.9%1.4%-1.0%-9.1%21.8%0.2%
3M Rtn-16.1%11.8%9.0%-2.5%4.3%19.8%6.7%
6M Rtn4.4%48.0%45.6%22.9%17.8%41.3%32.1%
12M Rtn-3.9%14.0%33.1%11.9%-36.4%4.8%8.3%
3Y Rtn1.2%83.8%131.0%-2.4%-40.0%-1.4%-0.1%
1M Excs Rtn-17.5%4.9%-2.7%-2.0%-10.5%18.2%-2.3%
3M Excs Rtn-25.7%4.0%1.2%-6.7%-1.5%12.7%-0.2%
6M Excs Rtn-18.5%25.1%22.7%0.0%-5.1%18.4%9.2%
12M Excs Rtn-20.9%-3.5%17.2%-8.1%-54.1%-9.7%-8.9%
3Y Excs Rtn-79.2%8.9%70.2%-79.8%-117.1%-85.3%-79.5%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/7/20255/8/20252/14/202511/8/20248/2/20245/3/20242/14/202411/2/20238/2/20235/5/20232/13/202311/3/2022
Key Financials Quarterly            
Total Revenue3,7043,1373,5343,0722,8972,2322,5532,8392,8382,1962,4792,828
Ebitda49415315504474-23150333459-74158197
Operating Income333-106164415468-13269367523-122137307
Net Income172-16671236220-132-2139240-1422240
EPS1.45-1.350.561.871.74-1.05-0.021.091.88-1.110.170.32
Key Financials TTM            
Total Revenue TTM13,44712,64011,73510,75410,52110,46210,42610,35210,34110,1619,6469,066
Ebitda TTM1,3281,3081,2701,105934919868876740593588584
Operating Income TTM806941915820772827837905845655650548
Net Income TTM313361395322225245235259160595854
Growth Rates Quarterly            
Total Revenue Growth27.9%40.5%38.4%8.2%2.1%1.6%3.0%0.4%6.8%30.6%30.5%44.8%
EBITDA Growth4.2%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 Margin13.3%0.5%8.9%16.4%16.4%-1.0%5.9%11.7%16.2%-3.4%6.4%7.0%
Operating Income Margin9.0%-3.4%4.6%13.5%16.2%-5.9%2.7%12.9%18.4%-5.6%5.5%10.9%
Net Income Margin4.6%-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 Cash2,1242,4642,4752,5052,5092,2781,7912,4512,4422,4292,4173,150
Total Debt6,3736,2766,3936,1423,8753,8213,8184,1273,8863,7313,7803,955
Net Debt / (Cash)4,2493,8123,9183,6371,3661,5432,0271,6761,4441,3021,363805
Cash Flows Quarterly            
FCF from Operations376459274318580292-532716102229174
Cash Flows TTM            
FCF from Operations TTM1,4271,6311,4641,1371,0901,1201,0501,1121,0151,3531,4181,538
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases43010524914292067133918-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC22.7%-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 TTM14.4%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

$ Mil20242023202220212020
Alaska Airlines8,8538,081   
Regional1,5651,5611,1477341,394
Other Revenue84   
Hawaiian Airlines00   
Consolidating & Other  -402-383-445
Horizon  406386451
Mainline  5,0252,8297,381
Special Items  00 
Total10,4269,6466,1763,5668,781


Assets by Segment
$ Mil20242023202220212020
Alaska Airlines19,937    
Hawaiian Airlines0    
Consolidating & Other-5,324   -7,480
Horizon    1,266
Mainline    19,207
Total14,613   12,993


Price Behavior

ALK Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta0.152.152.201.771.591.32
Up Beta1.324.814.031.981.931.52
Down Beta0.881.091.691.531.641.40
Up Capture-230%83%126%153%123%119%
Bmk +ve Days13233574144420
Stock +ve Days6182964126375
Down Capture300%213%198%163%114%105%
Bmk -ve Days8192952107330
Stock -ve Days15243461124373

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

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity8,445,202
Short Interest: % Change Since 930202527.3%
Average Daily Volume3,190,911
Days-to-Cover Short Interest2.65
Basic Shares Quantity118,847,000
Short % of Basic Shares7.1%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/24/2025   
7/23/2025-5.7%-1.0%1.9%
4/23/2025-10.0%-4.0%8.7%
1/22/20252.2%7.1%4.1%
10/31/20241.4%9.2%11.3%
7/17/2024-6.9%-5.5%-11.8%
4/18/20241.3%0.2%-2.6%
1/25/20244.5%0.0%7.9%
...
SUMMARY STATS   
# Positive131114
# Negative111310
Median Positive2.0%1.9%8.3%
Median Negative-1.4%-4.1%-8.2%
Max Positive4.5%9.2%36.6%
Max Negative-10.0%-9.4%-20.3%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025807202510-Q 6/30/2025
3312025508202510-Q 3/31/2025
12312024214202510-K 12/31/2024
93020241108202410-Q 9/30/2024
6302024802202410-Q 6/30/2024
3312024503202410-Q 3/31/2024
12312023214202410-K 12/31/2023
93020231102202310-Q 9/30/2023
6302023802202310-Q 6/30/2023
3312023505202310-Q 3/31/2023
12312022213202310-K 12/31/2022
93020221103202210-Q 9/30/2022
6302022802202210-Q 6/30/2022
3312022505202210-Q 3/31/2022
12312021211202210-K 12/31/2021
93020211104202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0LEVINE KYLE BSVP LEGAL & GEN COUNSEL8192025Sell57.755,914341,5341,207,957Form
1TACKETT SHANE REVP AND CFO8142025Sell57.065,000285,3152,472,825Form
2HARRISON ANDREW REVP AND CCO7292025Sell53.227,600404,5011,007,527Form
3HALVERSON EMILYVP Finance, Controller & Treas6062025Sell51.372,156110,756442,407Form
4HARRISON ANDREW REVP AND CCO5202025Sell53.517,500401,3301,419,639Form

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