Alaska Air Group, Inc. (ALK)

Alaska Air Group, Inc., through its subsidiaries, operates airlines. It operates through three segments: Alaska Airlines, Hawaiian Airlines, and Regional. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo; and Horizon's and other third-party carriers scheduled air transportation services. It operates in the United States, Canada, Mexico, Costa Rica, Guatemala, Belize, the Bahamas, the South Pacific, Australia, New Zealand, and Asia. Alaska Air Group, Inc. was founded in 1932 and is based in Seattle, Washington.

Ticker: ALK
Exchange: NYSE
Sector: Industrials
Industry: Airlines
Market cap: $4.35B
52-week range: $32.33 - $60.63

Valuation

Share price: $38.94 (close of Nov 6, 2026)
P/E (TTM): -11.12x
Price to book: 1.23x
Price to free cash flow: 4.62x
Enterprise value: $9.45B
Book value per share: $31.62

Price performance

Period	Change
1 day	+0.62%
5 days	+9.05%
1 month	-2.38%
3 months	-23.18%
6 months	-3.88%
Year to date	-22.58%
1 year	-5.32%
3 years	+18.57%
5 years	-34.39%
10 years	-44.58%
All time	+4,331.62%

Short interest

As of: Oct 15, 2026
Short % of float: 12.50%
Shares short: 12.41M
Days to cover: 3.99
Change since prior report: +2.81%
Source: FINRA consolidated short interest

Members of Congress who disclosed ALK trades

Julie Johnson · Lisa McClain · Adam Smith

Super investors holding ALK

Sarah Ketterer (Causeway Capital Management LLC) · Christopher Bloomstran (Semper Augustus Investments Group LLC) · Ken Griffin (Citadel)

Profitability and growth

Return on equity: 2.43%
Return on invested capital: 2.33%
Return on assets: 0.49%
Return on capital employed: 2.20%
Gross margin: 5.24%
Net margin: 0.70%
EBITDA margin: 7.71%
Revenue growth: 21.34%
Net income growth: -74.68%
Free cash flow growth: -14.69%

Cash flow and balance sheet

Free cash flow yield (TTM): 21.62%
Current ratio: 0.46x
Net debt to EBITDA: 8.40x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $14.24B
Cost of revenue: $13.49B
Gross profit: $746.00M
EBITDA: $1.10B
Net income: $100.00M
Earnings per share: $0.85
Interest expense: $272.00M
Shares outstanding: 118.17M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$14.24B	$746.00M	$100.00M	$0.85
2024-12-31	$11.73B	$957.00M	$395.00M	$3.13
2023-12-31	$10.43B	$728.00M	$235.00M	$1.84
2022-12-31	$9.65B	-	$58.00M	$0.46
2021-12-31	$6.18B	-	$478.00M	$3.82
2020-12-31	$3.57B	-	-$1.32B	-$10.72
2019-12-31	$8.78B	-	$769.00M	$6.24
2018-12-31	$8.26B	-	$437.00M	$3.55
2017-12-31	$7.89B	-	$960.00M	$7.79
2016-12-31	$5.92B	-	$797.00M	$6.45

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	5.24%	0.70%	2.43%	2.33%
2024-12-31	8.16%	3.37%	9.03%	3.90%
2023-12-31	6.98%	2.25%	5.71%	3.86%
2022-12-31	-	0.60%	1.52%	0.65%
2021-12-31	-	7.74%	12.58%	6.77%
2020-12-31	-	-37.13%	-44.31%	-15.66%
2019-12-31	-	8.76%	17.76%	10.83%
2018-12-31	-	5.29%	11.65%	8.46%
2017-12-31	-	12.16%	27.75%	16.74%
2016-12-31	-	13.45%	29.05%	13.79%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$2.12B	$4.77B
2024-12-31	$2.50B	$4.49B
2023-12-31	$1.79B	$2.18B
2022-12-31	$2.42B	$1.88B
2021-12-31	$3.12B	$2.17B
2020-12-31	$3.35B	$2.36B
2019-12-31	$1.52B	$1.26B
2018-12-31	$1.24B	$1.62B
2017-12-31	$1.62B	$2.26B
2016-12-31	$1.58B	$2.65B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$1.25B	$10.00M
2024-12-31	$1.46B	$63.00M
2023-12-31	-$444.00M	$85.00M
2022-12-31	-$253.00M	$42.00M
2021-12-31	$738.00M	$51.00M
2020-12-31	-$456.00M	$24.00M
2019-12-31	$1.03B	$29.00M
2018-12-31	$235.00M	$47.00M
2017-12-31	$564.00M	$55.00M
2016-12-31	$708.00M	$26.00M

Dividend history

Most recent payment: Feb 14, 2020

Payment date	Dividend per share
2020-02-14	$0.38
2019-11-18	$0.35
2019-08-19	$0.35
2019-05-20	$0.35
2019-02-15	$0.35
2018-11-19	$0.32
2018-08-20	$0.32
2018-05-21	$0.32

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-10-20	Sep 2026	$0.35
2026-07-21	Jun 2026	-$0.97
2026-04-20	Mar 2026	-$1.61
2026-01-22	Dec 2025	$0.11
2025-10-23	Sep 2025	$1.11
2025-07-23	Jun 2025	$1.56
2025-04-23	Mar 2025	-$0.72
2025-01-22	Dec 2024	$0.47

Filings and sources

Company website: alaskaair.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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