Alaska Air Group (ALK) Financials

$50.92 -1.11 (-2.13%)

Closing price 03:59 PM Eastern

Extended Trading

$50.91 -0.01 (-0.02%)

As of 07:59 PM Eastern

Annual Income Statements for Alaska Air Group

This table shows Alaska Air Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	395	235	58	-167	-2,836	769	437	960	797	848
Consolidated Net Income / (Loss)	395	235	58	478	-1,324	769	437	960	797	848
Net Income / (Loss) Continuing Operations	395	235	58	-167	-2,836	769	437	960	797	848
Total Pre-Tax Income	545	323	79	-16	-1,840	1,016	585	1,159	1,316	1,312
Total Operating Income	570	394	70	685	-1,775	1,063	643	1,208	1,306	1,298
Total Gross Profit	7,789	7,177	6,715	1,220	-1,249	2,857	2,486	3,061	2,743	2,471
Total Revenue	11,735	10,426	9,646	6,176	3,566	8,781	8,264	7,894	5,925	5,598
Operating Revenue	11,735	10,426	9,646	6,176	3,566	8,781	8,264	7,894	5,925	4,901
Total Cost of Revenue	3,946	3,249	2,931	4,956	4,815	5,924	5,778	4,833	3,182	3,127
Operating Cost of Revenue	3,946	3,249	2,931	4,956	3,251	5,924	5,778	4,833	3,182	3,127
Total Operating Expenses	7,219	6,783	6,645	1,308	2,090	1,794	1,843	1,853	1,437	1,173
Selling, General & Admin Expense	1,647	1,421	1,341	915	689	1,161	1,204	1,244	862	781
Depreciation Expense	583	451	415	394	420	423	398	372	363	320
Other Operating Expenses / (Income)	4,989	4,911	4,889	-	128	166	154	121	95	72
Total Other Income / (Expense), net	-25	-71	9.00	72	-13	-47	-58	-49	10	14
Interest Expense	142	94	94	-11	87	63	73	86	30	8.00
Interest & Investment Income	101	80	53	25	31	42	38	34	27	21
Other Income / (Expense), net	16	-57	50	36	-9.00	-26	-23	3.00	13	1.00
Income Tax Expense	150	88	21	151	-516	247	148	199	519	464
Basic Earnings per Share	$3.13	$1.84	$0.46	$3.82	($10.72)	$6.24	$3.55	$7.79	$6.45	$6.61
Weighted Average Basic Shares Outstanding	126.14M	127.38M	126.66M	125.06M	123.45M	123.28M	123.23M	123.21M	123.56M	128.37M
Diluted Earnings per Share	$3.08	$1.83	$0.45	$3.77	($10.72)	$6.19	$3.52	$7.75	$6.41	$6.56
Weighted Average Diluted Shares Outstanding	128.37M	128.71M	127.90M	126.78M	123.45M	124.29M	123.98M	123.85M	124.39M	129.37M
Weighted Average Basic & Diluted Shares Outstanding	123.08M	126.05M	127.54M	125.91M	124.23M	122.91M	123.10M	123.20M	123.50M	128.30M

This table shows Alaska Air Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	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
Net Income / (Loss) Attributable to Common Shareholders	-166	71	236	220	-132	-2.00	139	240	-142	22	40
Consolidated Net Income / (Loss)	-166	71	236	220	-132	-2.00	139	240	-142	22	40
Net Income / (Loss) Continuing Operations	-166	71	236	220	-132	-2.00	139	240	-142	22	40
Total Pre-Tax Income	-233	79	328	316	-178	4.00	193	325	-199	35	65
Total Operating Income	-197	73	341	322	-166	32	211	337	-186	23	62
Total Gross Profit	1,339	4,671	1,253	1,214	651	4,497	907	1,230	543	4,610	976
Total Revenue	3,137	3,534	3,072	2,897	2,232	2,553	2,839	2,838	2,196	2,479	2,828
Operating Revenue	3,137	3,534	3,072	2,897	2,232	2,553	2,839	2,838	2,196	2,479	2,828
Total Cost of Revenue	1,798	-1,137	1,819	1,683	1,581	-1,944	1,932	1,608	1,653	-2,131	1,852
Operating Cost of Revenue	1,798	-1,137	1,819	1,683	1,581	-1,944	1,932	1,608	1,653	-2,131	1,852
Total Operating Expenses	1,536	4,598	912	892	817	4,465	696	893	729	4,587	914
Selling, General & Admin Expense	506	500	392	376	379	356	369	358	338	344	372
Depreciation Expense	194	190	139	128	126	121	113	113	104	105	104
Other Operating Expenses / (Income)	836	4,016	307	388	278	4,157	58	422	274	4,514	283
Total Other Income / (Expense), net	-36	6.00	-13	-6.00	-12	-28	-18	-12	-13	12	3.00
Interest Expense	54	46	37	30	29	25	27	21	21	18	28
Interest & Investment Income	26	32	28	24	17	18	23	22	17	18	17
Other Income / (Expense), net	-8.00	20	-4.00	0.00	0.00	-21	-14	-13	-9.00	12	14
Income Tax Expense	-67	8.00	92	96	-46	6.00	54	85	-57	13	25
Basic Earnings per Share	($1.35)	$0.57	$1.87	$1.74	($1.05)	($0.02)	$1.09	$1.88	($1.11)	$0.18	$0.32
Weighted Average Basic Shares Outstanding	123.13M	126.14M	126.19M	126.34M	125.97M	127.38M	127.19M	127.44M	127.50M	126.66M	126.78M
Diluted Earnings per Share	($1.35)	$0.58	$1.84	$1.71	($1.05)	-	$1.08	$1.86	($1.11)	$0.19	$0.31
Weighted Average Diluted Shares Outstanding	123.13M	128.37M	128.59M	128.31M	125.97M	128.71M	129.19M	128.92M	127.50M	127.90M	128.37M
Weighted Average Basic & Diluted Shares Outstanding	121.39M	123.08M	126.94M	126.16M	126.89M	126.05M	128.05M	127.22M	127.91M	127.54M	126.84M

This table details how cash moves in and out of Alaska Air Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	949	-61	-125	-892	1,154	118	-83	-131	255	-34
Net Cash From Operating Activities	1,464	1,050	1,418	1,030	-234	1,722	1,195	1,590	1,386	1,584
Net Cash From Continuing Operating Activities	1,464	1,050	1,418	1,028	-234	1,722	1,195	1,605	1,386	1,584
Net Income / (Loss) Continuing Operations	395	235	58	478	-1,324	769	437	960	797	848
Consolidated Net Income / (Loss)	395	235	58	478	-1,324	769	437	960	797	848
Depreciation Expense	583	451	415	394	420	423	398	372	363	320
Non-Cash Adjustments To Reconcile Net Income	-7.00	507	833	41	871	29	47	55	26	25
Changes in Operating Assets and Liabilities, net	493	-143	112	115	-201	501	313	218	200	391
Net Cash From Investing Activities	-634	-964	-1,218	-1,008	-593	-791	-631	-1,129	-2,622	-930
Net Cash From Continuing Investing Activities	-634	-964	-1,218	-1,008	-593	-791	-631	-1,129	-2,622	-930
Purchase of Property, Plant & Equipment	-1,281	-1,494	-1,671	-292	-222	-696	-960	-1,026	-678	-831
Acquisitions	-659	0.00	0.00	-	-	-	-	-	-1,951	0.00
Purchase of Investments	-832	-536	-1,797	-4,301	-2,962	-1,810	-834	-1,569	-960	-1,327
Sale and/or Maturity of Investments	1,761	1,152	2,252	3,595	2,318	1,674	1,116	1,388	962	1,175
Other Investing Activities, net	377	-86	-2.00	-12	-6.00	13	31	78	5.00	53
Net Cash From Financing Activities	119	-147	-325	-914	1,981	-813	-647	-592	1,491	-688
Net Cash From Continuing Financing Activities	119	-147	-325	-914	1,981	-813	-647	-592	1,491	-688
Repayment of Debt	-1,879	-421	-325	-1,334	-565	-1,058	-807	-397	-249	-116
Repurchase of Common Equity	-312	-137	0.00	0.00	-31	-75	-50	-75	-193	-505
Issuance of Debt	2,310	411	0.00	363	2,564	450	339	0.00	2,044	0.00
Cash Interest Paid	148	105	71	-	50	60	72	84	24	8.00
Cash Income Taxes Paid	22	15	0.00	-	0.00	31	0.00	177	459	349

This table details how cash moves in and out of Alaska Air Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	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
Net Change in Cash & Equivalents	-158	188	-63	219	605	-186	-9.00	-146	280	-350	110
Net Cash From Operating Activities	459	274	318	580	292	-53	271	498	334	9.00	367
Net Cash From Continuing Operating Activities	459	274	318	580	292	127	145	444	334	9.00	367
Net Income / (Loss) Continuing Operations	-166	71	236	220	-132	-2.00	139	240	-142	22	40
Consolidated Net Income / (Loss)	-166	71	236	220	-132	-2.00	139	240	-142	22	40
Depreciation Expense	194	190	139	128	126	121	113	113	104	105	104
Non-Cash Adjustments To Reconcile Net Income	72	-66	22	-5.00	42	39	174	207	87	424	389
Changes in Operating Assets and Liabilities, net	359	79	-79	237	256	-31	-281	-116	285	-542	-166
Net Cash From Investing Activities	-381	-198	-301	-453	318	-154	-331	-539	60	-330	-167
Net Cash From Continuing Investing Activities	-381	-198	-301	-453	318	-154	-331	-539	60	-330	-167
Purchase of Property, Plant & Equipment	-238	-429	-645	-150	-57	-1,172	-102	-96	-124	-724	-315
Purchase of Investments	-470	-404	-265	-150	-13	-17	-130	-188	-201	-127	-260
Sale and/or Maturity of Investments	336	608	865	155	133	346	232	186	388	521	408
Other Investing Activities, net	-9.00	27	403	-308	255	689	-331	-441	-3.00	-	-
Net Cash From Financing Activities	-236	112	-80	92	-5.00	-159	177	-51	-114	-29	-90
Net Cash From Continuing Financing Activities	-236	112	-80	92	-5.00	-159	177	-51	-114	-29	-90
Repayment of Debt	-131	-1,605	-131	-9.00	-134	-190	-82	-53	-96	8.00	-94
Repurchase of Common Equity	-105	-249	-14	-29	-20	-67	-13	-39	-18	-	-
Issuance of Debt	0.00	1,966	65	130	149	98	272	41	0.00	-	-
Cash Interest Paid	67	41	52	20	35	20	43	10	32	-1.00	37

This table presents Alaska Air Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	19,768	14,613	14,186	13,951	14,046	12,993	10,912	10,746	9,962	6,530
Total Current Assets	3,760	2,705	3,040	3,920	4,006	2,037	1,787	2,152	2,050	1,663
Cash & Equivalents	1,201	281	338	470	1,370	221	105	194	328	73
Restricted Cash	29	0.00	-	-	-	-	-	-	-	-
Short-Term Investments	1,274	1,510	2,079	2,646	1,976	1,300	1,131	1,427	1,252	1,255
Accounts Receivable	558	383	296	546	480	323	366	341	302	212
Inventories, net	199	116	104	62	57	72	60	57	47	51
Prepaid Expenses	307	176	163	120	123	121	125	133	121	72
Other Current Assets	192	239	60	76	-	-	-	-	-	-
Plant, Property, & Equipment, net	10,781	8,388	7,257	6,138	6,211	6,902	6,781	6,284	5,666	4,802
Plant, Property & Equipment, gross	15,329	12,730	11,384	10,000	9,742	10,388	10,023	9,275	8,595	7,416
Accumulated Depreciation	4,548	4,342	4,127	3,862	3,531	3,486	3,242	2,991	2,929	2,614
Total Noncurrent Assets	5,227	3,520	3,889	3,893	3,829	4,054	2,344	2,310	2,246	65
Goodwill	2,724	1,943	2,038	2,044	2,050	1,943	1,943	1,943	1,934	0.00
Intangible Assets	873	90	-	-	-	122	127	133	143	0.00
Other Noncurrent Operating Assets	1,630	1,487	1,851	1,849	1,779	1,989	274	234	169	65
Total Liabilities & Shareholders' Equity	19,768	14,613	14,186	13,951	14,046	12,993	10,912	10,746	9,962	6,530
Total Liabilities	15,396	10,500	10,370	10,150	11,058	8,662	7,161	7,286	7,031	4,119
Total Current Liabilities	6,145	4,459	4,493	3,991	4,293	3,201	2,942	2,686	2,535	1,805
Short-Term Debt	442	289	276	366	1,138	235	486	307	319	114
Accounts Payable	186	207	221	200	108	146	132	120	92	63
Accrued Expenses	997	800	846	625	424	431	416	400	878	661
Current Deferred Revenue	3,304	2,357	2,303	2,075	1,806	1,650	705	1,441	849	669
Current Employee Benefit Liabilities	1,001	584	619	457	527	470	415	418	397	298
Other Current Liabilities	215	222	228	268	290	269	788	-	-	-
Total Noncurrent Liabilities	9,251	6,041	5,877	6,159	6,765	5,461	4,219	4,600	4,496	2,314
Long-Term Debt	4,491	2,182	1,883	2,173	2,357	1,264	1,617	2,262	2,645	569
Capital Lease Obligations	47	0.00	-	-	-	-	-	-	-	-
Noncurrent Deferred Revenue	1,664	1,382	1,374	1,446	1,544	1,240	1,169	1,090	640	431
Noncurrent Deferred & Payable Income Tax Liabilities	934	695	574	578	407	715	512	370	463	682
Noncurrent Employee Benefit Liabilities	460	362	348	305	665	571	503	453	331	270
Other Noncurrent Operating Liabilities	1,655	1,420	1,698	1,657	1,792	1,671	418	425	417	362
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,372	4,113	3,816	3,801	2,988	4,331	3,751	3,460	2,931	2,411
Total Preferred & Common Equity	4,372	4,113	3,816	3,801	2,988	4,331	3,751	3,460	2,931	2,411
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	4,372	4,113	3,816	3,801	2,988	4,331	3,751	3,460	2,931	2,411
Common Stock	812	696	578	495	392	306	233	165	111	74
Retained Earnings	4,930	4,535	4,300	4,242	3,764	5,133	4,534	4,193	3,568	2,890
Treasury Stock	-1,131	-819	-674	-674	-674	-643	-568	-518	-443	-250
Accumulated Other Comprehensive Income / (Loss)	-239	-299	-388	-262	-494	-465	-448	-380	-305	-303

This table presents Alaska Air Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	19,818	19,559	15,342	14,813	15,165	14,829	14,296	14,531
Total Current Assets	3,721	3,737	3,376	3,129	3,644	3,244	3,099	3,810
Cash & Equivalents	1,044	1,015	1,115	885	647	536	516	688
Restricted Cash	28	27	-	-	-	-	-	-
Short-Term Investments	1,420	1,490	1,394	1,393	1,804	1,906	1,913	2,462
Accounts Receivable	569	510	370	384	341	351	340	345
Inventories, net	206	202	106	104	122	107	105	94
Prepaid Expenses	281	270	179	177	187	187	181	221
Other Current Assets	173	223	212	186	543	157	60	-
Plant, Property, & Equipment, net	10,867	10,522	8,521	8,194	8,026	7,963	7,252	6,654
Plant, Property & Equipment, gross	15,516	15,070	13,058	12,633	12,309	12,182	11,430	10,700
Accumulated Depreciation	4,649	4,548	4,537	4,439	4,283	4,219	4,178	4,046
Total Noncurrent Assets	5,230	5,300	3,445	3,490	3,495	3,622	3,945	4,067
Goodwill	2,724	2,703	2,033	2,033	2,034	2,036	2,037	2,040
Intangible Assets	859	888	-	-	-	-	-	-
Other Noncurrent Operating Assets	1,647	1,709	1,412	1,457	1,461	1,586	1,908	2,027
Total Liabilities & Shareholders' Equity	19,818	19,559	15,342	14,813	15,165	14,829	14,296	14,531
Total Liabilities	15,681	15,080	11,116	10,836	11,072	10,878	10,607	10,705
Total Current Liabilities	6,700	6,248	4,968	4,829	5,074	5,176	4,857	4,709
Short-Term Debt	519	523	359	301	736	572	268	321
Accounts Payable	237	242	203	181	229	212	206	202
Accrued Expenses	1,042	958	852	791	806	871	908	805
Current Deferred Revenue	3,931	0.00	2,888	2,917	2,592	0.00	0.00	2,535
Current Employee Benefit Liabilities	749	822	513	481	561	463	431	583
Other Current Liabilities	222	3,703	153	158	150	3,058	3,044	263
Total Noncurrent Liabilities	8,981	8,832	6,148	6,007	5,998	5,702	5,750	5,996
Long-Term Debt	4,290	4,159	2,313	2,264	2,128	1,889	1,795	1,889
Capital Lease Obligations	1,245	-	-	-	-	-	-	-
Noncurrent Deferred Revenue	1,587	1,578	1,329	1,320	1,366	1,370	1,325	1,413
Noncurrent Deferred & Payable Income Tax Liabilities	871	889	746	649	662	606	523	571
Noncurrent Employee Benefit Liabilities	457	505	358	365	368	362	355	296
Other Noncurrent Operating Liabilities	531	1,701	1,402	1,409	1,474	1,475	1,752	1,827
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,137	4,479	4,226	3,977	4,093	3,951	3,689	3,826
Total Preferred & Common Equity	4,137	4,479	4,226	3,977	4,093	3,951	3,689	3,826
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	4,137	4,479	4,226	3,977	4,093	3,951	3,689	3,826
Common Stock	845	770	758	708	660	649	588	550
Retained Earnings	4,764	4,859	4,623	4,403	4,537	4,398	4,158	4,278
Treasury Stock	-1,238	-882	-868	-840	-744	-731	-692	-674
Accumulated Other Comprehensive Income / (Loss)	-234	-268	-287	-294	-360	-365	-365	-328

This table displays calculated financial ratios and metrics derived from Alaska Air Group's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.56%	8.09%	56.19%	73.19%	-59.39%	6.26%	4.69%	33.23%	5.84%	4.28%
EBITDA Growth	48.35%	47.29%	-52.02%	181.74%	-193.42%	43.42%	-35.69%	-5.89%	3.89%	26.88%
EBIT Growth	73.89%	180.83%	-83.36%	140.41%	-272.03%	67.26%	-48.80%	-8.19%	1.54%	32.28%
NOPAT Growth	44.12%	457.78%	-89.28%	138.59%	-254.43%	67.51%	-52.00%	26.51%	-5.72%	40.54%
Net Income Growth	68.09%	305.17%	-87.87%	136.10%	-272.17%	75.97%	-54.48%	20.45%	-6.01%	40.17%
EPS Growth	68.31%	306.67%	-88.06%	135.17%	-273.18%	75.85%	-54.58%	20.90%	-2.29%	48.42%
Operating Cash Flow Growth	39.43%	-25.95%	37.67%	540.17%	-113.59%	44.10%	-24.84%	14.72%	-12.50%	53.79%
Free Cash Flow Firm Growth	-73.13%	-235.57%	-172.00%	656.74%	-106.33%	311.94%	-70.21%	151.62%	-323.69%	73.14%
Invested Capital Growth	42.88%	34.71%	10.36%	2.77%	-27.20%	-6.69%	4.76%	2.16%	144.34%	3.09%
Revenue Q/Q Growth	9.12%	0.71%	11.45%	12.37%	-28.48%	1.90%	-16.37%	37.77%	2.44%	1.28%
EBITDA Q/Q Growth	14.83%	-1.01%	-1.47%	149.44%	-177.24%	15.97%	-7.71%	-3.59%	-2.55%	1.31%
EBIT Q/Q Growth	16.27%	-6.65%	-9.77%	1,260.38%	-94.34%	24.34%	-13.41%	-5.76%	-3.09%	1.01%
NOPAT Q/Q Growth	13.99%	1.77%	-19.22%	1,243.14%	-91.27%	24.31%	-39.41%	31.24%	-10.58%	5.03%
Net Income Q/Q Growth	22.67%	-9.27%	7.41%	3,576.92%	-90.23%	25.86%	-40.05%	29.38%	-10.55%	5.34%
EPS Q/Q Growth	23.20%	-9.41%	7.14%	37,600.00%	-89.07%	25.81%	-40.24%	29.60%	-11.46%	3.80%
Operating Cash Flow Q/Q Growth	28.76%	-5.58%	-7.80%	86.93%	-133.38%	27.93%	-1.97%	3.45%	-11.21%	15.87%
Free Cash Flow Firm Q/Q Growth	6.74%	29.14%	-272.73%	-30.74%	-140.19%	52.91%	-67.10%	147.38%	-289.55%	13.45%
Invested Capital Q/Q Growth	3.30%	6.37%	23.28%	7.97%	-10.80%	-0.76%	4.41%	-0.99%	143.24%	-2.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	66.37%	68.84%	69.61%	19.75%	-35.03%	32.54%	30.08%	38.78%	46.30%	44.14%
EBITDA Margin	9.96%	7.56%	5.55%	18.05%	-38.25%	16.63%	12.32%	20.05%	28.39%	28.92%
Operating Margin	4.86%	3.78%	0.73%	11.09%	-49.78%	12.11%	7.78%	15.30%	22.04%	23.19%
EBIT Margin	4.99%	3.23%	1.24%	11.67%	-50.03%	11.81%	7.50%	15.34%	22.26%	23.20%
Profit (Net Income) Margin	3.37%	2.25%	0.60%	7.74%	-37.13%	8.76%	5.29%	12.16%	13.45%	15.15%
Tax Burden Percent	72.48%	72.76%	73.42%	-2,987.50%	71.96%	75.69%	74.70%	82.83%	60.56%	64.63%
Interest Burden Percent	93.00%	95.85%	65.83%	-2.22%	103.14%	97.97%	94.35%	95.71%	99.77%	101.00%
Effective Tax Rate	27.52%	27.24%	26.58%	0.00%	0.00%	24.31%	25.30%	17.17%	39.44%	35.37%
Return on Invested Capital (ROIC)	7.10%	6.87%	1.52%	15.08%	-33.37%	18.03%	10.64%	22.94%	26.01%	48.23%
ROIC Less NNEP Spread (ROIC-NNEP)	5.95%	-17.62%	-0.07%	15.78%	-161.72%	9.61%	5.87%	19.46%	27.65%	46.52%
Return on Net Nonoperating Assets (RNNOA)	2.21%	-0.94%	0.01%	-0.99%	-2.81%	1.00%	1.48%	7.10%	3.83%	-10.86%
Return on Equity (ROE)	9.31%	5.93%	1.52%	14.08%	-36.18%	19.03%	12.12%	30.04%	29.84%	37.37%
Cash Return on Invested Capital (CROIC)	-28.21%	-22.71%	-8.33%	12.34%	-1.89%	24.95%	5.99%	20.81%	-57.82%	45.18%
Operating Return on Assets (OROA)	3.41%	2.34%	0.85%	5.15%	-13.20%	8.68%	5.73%	11.70%	16.00%	20.63%
Return on Assets (ROA)	2.30%	1.63%	0.41%	3.41%	-9.79%	6.43%	4.04%	9.27%	9.67%	13.47%
Return on Common Equity (ROCE)	9.31%	5.93%	1.52%	14.08%	-36.18%	19.03%	12.12%	30.04%	29.84%	37.37%
Return on Equity Simple (ROE_SIMPLE)	9.03%	5.71%	1.52%	12.58%	-44.31%	17.76%	11.65%	27.75%	27.19%	35.17%
Net Operating Profit after Tax (NOPAT)	413	287	51	480	-1,243	805	480	1,001	791	839
NOPAT Margin	3.52%	2.75%	0.53%	7.76%	-34.84%	9.16%	5.81%	12.68%	13.35%	14.99%
Net Nonoperating Expense Percent (NNEP)	1.15%	24.48%	1.58%	-0.70%	128.35%	8.42%	4.77%	3.48%	-1.64%	1.71%
Return On Investment Capital (ROIC_SIMPLE)	4.42%	4.35%	0.86%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	33.63%	31.16%	30.39%	80.25%	135.03%	67.46%	69.92%	61.22%	53.70%	55.86%
SG&A Expenses to Revenue	14.03%	13.63%	13.90%	14.82%	19.32%	13.22%	14.57%	15.76%	14.55%	13.95%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	61.52%	65.06%	68.89%	21.18%	58.61%	20.43%	22.30%	23.47%	24.25%	20.95%
Earnings before Interest and Taxes (EBIT)	586	337	120	721	-1,784	1,037	620	1,211	1,319	1,299
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,169	788	535	1,115	-1,364	1,460	1,018	1,583	1,682	1,619
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.88	1.22	1.43	1.72	2.15	1.92	1.95	2.49	3.51	3.89
Price to Tangible Book Value (P/TBV)	10.61	2.41	3.06	3.72	6.86	3.66	4.34	6.23	12.03	3.89
Price to Revenue (P/Rev)	0.70	0.48	0.56	1.06	1.80	0.95	0.88	1.09	1.73	1.68
Price to Earnings (P/E)	20.81	21.29	93.90	0.00	0.00	10.79	16.71	8.99	12.89	11.07
Dividend Yield	0.00%	0.00%	0.00%	0.00%	2.74%	2.08%	2.16%	1.71%	1.32%	1.07%
Earnings Yield	4.81%	4.70%	1.06%	0.00%	0.00%	9.27%	5.99%	11.13%	7.76%	9.03%
Enterprise Value to Invested Capital (EV/IC)	1.56	1.19	1.46	1.85	2.10	1.92	1.77	2.17	2.70	4.95
Enterprise Value to Revenue (EV/Rev)	0.91	0.55	0.54	0.96	1.85	0.94	0.99	1.21	1.97	1.56
Enterprise Value to EBITDA (EV/EBITDA)	9.15	7.21	9.70	5.34	0.00	5.67	8.02	6.05	6.93	5.40
Enterprise Value to EBIT (EV/EBIT)	18.25	16.86	43.24	8.25	0.00	7.98	13.17	7.91	8.84	6.73
Enterprise Value to NOPAT (EV/NOPAT)	25.89	19.83	100.96	12.41	0.00	10.29	17.00	9.57	14.74	10.42
Enterprise Value to Operating Cash Flow (EV/OCF)	7.31	5.41	3.66	5.78	0.00	4.81	6.83	6.02	8.41	5.52
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	15.16	0.00	7.43	30.21	10.55	0.00	11.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.14	0.60	0.57	0.67	1.17	0.35	0.56	0.74	1.01	0.28
Long-Term Debt to Equity	1.04	0.53	0.49	0.57	0.79	0.29	0.43	0.65	0.90	0.24
Financial Leverage	0.37	0.05	-0.11	-0.06	0.02	0.10	0.25	0.36	0.14	-0.23
Leverage Ratio	4.05	3.63	3.69	4.12	3.69	2.96	3.00	3.24	3.09	2.78
Compound Leverage Factor	3.77	3.48	2.43	-0.09	3.81	2.90	2.83	3.10	3.08	2.80
Debt to Total Capital	53.25%	37.53%	36.13%	40.05%	53.91%	25.71%	35.92%	42.61%	50.28%	22.08%
Short-Term Debt to Total Capital	4.73%	4.39%	4.62%	5.77%	17.55%	4.03%	8.30%	5.09%	5.41%	3.68%
Long-Term Debt to Total Capital	48.52%	33.14%	31.51%	34.27%	36.36%	21.68%	27.62%	37.52%	44.87%	18.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	46.75%	62.47%	63.87%	59.95%	46.09%	74.29%	64.08%	57.39%	49.72%	77.93%
Debt to EBITDA	4.26	3.14	4.04	2.28	-2.56	1.03	2.07	1.62	1.76	0.42
Net Debt to EBITDA	2.12	0.86	-0.48	-0.52	-0.11	-0.02	0.85	0.60	0.82	-0.40
Long-Term Debt to EBITDA	3.88	2.77	3.52	1.95	-1.73	0.87	1.59	1.43	1.57	0.35
Debt to NOPAT	12.05	8.62	42.01	5.30	-2.81	1.86	4.38	2.57	3.75	0.81
Net Debt to NOPAT	5.99	2.37	-5.02	-1.20	-0.12	-0.03	1.81	0.95	1.75	-0.77
Long-Term Debt to NOPAT	10.98	7.61	36.64	4.53	-1.90	1.57	3.37	2.26	3.34	0.68
Altman Z-Score	1.22	1.37	1.32	1.42	0.53	1.96	2.01	2.30	2.35	3.48
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.61	0.61	0.68	0.98	0.93	0.64	0.61	0.80	0.81	0.92
Quick Ratio	0.49	0.49	0.60	0.92	0.89	0.58	0.54	0.73	0.74	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,642	-948	-283	393	-71	1,114	270	908	-1,758	786
Operating Cash Flow to CapEx	114.29%	70.28%	84.86%	355.17%	0.00%	257.78%	126.59%	154.97%	204.42%	190.61%
Free Cash Flow to Firm to Interest Expense	-11.56	-10.09	-3.01	0.00	-0.81	17.68	3.70	10.55	-58.60	98.24
Operating Cash Flow to Interest Expense	10.31	11.17	15.09	0.00	-2.69	27.33	16.37	18.49	46.20	198.00
Operating Cash Flow Less CapEx to Interest Expense	1.29	-4.72	-2.69	0.00	-2.03	16.73	3.44	6.56	23.60	94.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.68	0.72	0.69	0.44	0.26	0.73	0.76	0.76	0.72	0.89
Accounts Receivable Turnover	24.94	30.71	22.91	12.04	8.88	25.49	23.38	24.55	23.05	23.77
Inventory Turnover	25.05	29.54	35.31	83.29	74.65	89.76	98.77	92.94	64.94	57.38
Fixed Asset Turnover	1.22	1.33	1.44	1.00	0.54	1.28	1.27	1.32	1.13	1.23
Accounts Payable Turnover	20.08	15.18	13.92	32.18	37.91	42.62	45.86	45.59	41.06	50.03
Days Sales Outstanding (DSO)	14.63	11.89	15.93	30.32	41.10	14.32	15.61	14.87	15.83	15.36
Days Inventory Outstanding (DIO)	14.57	12.36	10.34	4.38	4.89	4.07	3.70	3.93	5.62	6.36
Days Payable Outstanding (DPO)	18.18	24.04	26.21	11.34	9.63	8.56	7.96	8.01	8.89	7.30
Cash Conversion Cycle (CCC)	11.03	0.20	0.05	23.36	36.36	9.82	11.35	10.79	12.56	14.42
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,848	4,793	3,558	3,224	3,137	4,309	4,618	4,408	4,315	1,766
Invested Capital Turnover	2.02	2.50	2.84	1.94	0.96	1.97	1.83	1.81	1.95	3.22
Increase / (Decrease) in Invested Capital	2,055	1,235	334	87	-1,172	-309	210	93	2,549	53
Enterprise Value (EV)	10,696	5,683	5,188	5,952	6,580	8,276	8,167	9,575	11,661	8,745
Market Capitalization	8,220	5,003	5,446	6,529	6,431	8,298	7,300	8,627	10,277	9,390
Book Value per Share	$34.44	$32.12	$30.09	$30.33	$24.16	$35.16	$30.42	$28.12	$23.78	$19.12
Tangible Book Value per Share	$6.11	$16.24	$14.02	$14.02	$7.59	$18.40	$13.63	$11.25	$6.93	$19.12
Total Capital	9,352	6,584	5,975	6,340	6,483	5,830	5,854	6,029	5,895	3,094
Total Debt	4,980	2,471	2,159	2,539	3,495	1,499	2,103	2,569	2,964	683
Total Long-Term Debt	4,538	2,182	1,883	2,173	2,357	1,264	1,617	2,262	2,645	569
Net Debt	2,476	680	-258	-577	149	-22	867	948	1,384	-645
Capital Expenditures (CapEx)	1,281	1,494	1,671	290	-57	668	944	1,026	678	831
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4,447	-3,256	-3,594	-2,821	-2,495	-2,450	-1,905	-1,848	-1,746	-1,356
Debt-free Net Working Capital (DFNWC)	-1,943	-1,465	-1,177	295	851	-929	-669	-227	-166	-28
Net Working Capital (NWC)	-2,385	-1,754	-1,453	-71	-287	-1,164	-1,155	-534	-485	-142
Net Nonoperating Expense (NNE)	18	52	-6.61	1.50	82	36	43	41	-6.06	-9.05
Net Nonoperating Obligations (NNO)	2,476	680	-258	-577	149	-22	867	948	1,384	-645
Total Depreciation and Amortization (D&A)	583	451	415	394	420	423	398	372	363	320
Debt-free, Cash-free Net Working Capital to Revenue	-37.90%	-31.23%	-37.26%	-45.68%	-69.97%	-27.90%	-23.05%	-23.41%	-29.47%	-24.22%
Debt-free Net Working Capital to Revenue	-16.56%	-14.05%	-12.20%	4.78%	23.86%	-10.58%	-8.10%	-2.88%	-2.80%	-0.50%
Net Working Capital to Revenue	-20.32%	-16.82%	-15.06%	-1.15%	-8.05%	-13.26%	-13.98%	-6.76%	-8.19%	-2.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.13	$1.84	$0.46	$3.82	($10.72)	$6.24	$3.55	$8.39	$6.59	$6.61
Adjusted Weighted Average Basic Shares Outstanding	126.14M	127.38M	126.66M	125.06M	123.45M	123.28M	123.23M	123.21M	123.56M	128.37M
Adjusted Diluted Earnings per Share	$3.08	$1.83	$0.45	$3.77	($10.72)	$6.19	$3.52	$8.35	$6.54	$6.56
Adjusted Weighted Average Diluted Shares Outstanding	128.37M	128.71M	127.90M	126.78M	123.45M	124.29M	123.98M	123.85M	124.39M	129.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	123.08M	126.05M	127.54M	125.91M	124.23M	122.91M	123.12M	123.00M	123.47M	124.73M
Normalized Net Operating Profit after Tax (NOPAT)	413	287	51	479	-645	838	545	1,097	862	839
Normalized NOPAT Margin	3.52%	2.75%	0.53%	7.75%	-18.10%	9.54%	6.60%	13.89%	14.55%	14.99%
Pre Tax Income Margin	4.64%	3.10%	0.82%	-0.26%	-51.60%	11.57%	7.08%	14.68%	22.21%	23.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.13	3.59	1.28	0.00	-20.51	16.46	8.49	14.08	43.97	162.38
NOPAT to Interest Expense	2.91	3.05	0.55	0.00	-14.28	12.77	6.58	11.63	26.36	104.87
EBIT Less CapEx to Interest Expense	-4.89	-12.31	-16.50	0.00	-19.85	5.86	-4.44	2.15	21.37	58.50
NOPAT Less CapEx to Interest Expense	-6.11	-12.84	-17.23	0.00	-13.63	2.17	-6.35	-0.30	3.76	0.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	-3.40%	22.50%	36.16%	15.42%	17.06%	12.03%
Augmented Payout Ratio	78.99%	58.30%	0.00%	0.00%	-5.74%	32.25%	47.60%	23.23%	41.28%	71.58%

This table displays calculated financial ratios and metrics derived from Alaska Air Group's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	40.55%	38.43%	8.21%	2.08%	1.64%	2.99%	0.39%	6.77%	30.64%	66.60%	44.80%
EBITDA Growth	72.50%	114.39%	53.55%	2.97%	56.04%	-5.71%	72.22%	45.18%	-5.81%	-5.41%	-50.68%
EBIT Growth	-23.49%	745.45%	71.07%	-0.62%	14.87%	-68.57%	159.21%	64.47%	-3.72%	-27.08%	-71.43%
NOPAT Growth	-18.67%	510.05%	61.46%	-9.92%	10.75%	-210.67%	298.29%	77.12%	7.92%	-47.04%	-81.32%
Net Income Growth	-25.76%	3,650.00%	69.78%	-8.33%	7.04%	-109.09%	247.50%	72.66%	0.70%	22.22%	-79.38%
EPS Growth	-28.57%	0.00%	70.37%	-8.06%	5.41%	0.00%	248.39%	70.64%	2.63%	18.75%	-79.74%
Operating Cash Flow Growth	57.19%	616.98%	17.34%	16.47%	-12.57%	-688.89%	-26.16%	-34.04%	16.38%	-93.02%	446.23%
Free Cash Flow Firm Growth	-243.15%	-59.02%	-27.90%	81.34%	-195.63%	-291.50%	-1,162.61%	-4,361.32%	2.55%	-435.25%	-81.21%
Invested Capital Growth	80.56%	42.88%	47.12%	10.55%	27.70%	34.71%	56.13%	48.30%	7.12%	10.36%	-3.35%
Revenue Q/Q Growth	-11.23%	15.04%	6.04%	29.79%	-12.57%	-10.07%	0.04%	29.24%	-11.42%	-12.34%	6.40%
EBITDA Q/Q Growth	-103.89%	-40.55%	5.78%	1,225.00%	-130.30%	-57.42%	-29.06%	580.22%	-165.00%	-22.22%	-40.20%
EBIT Q/Q Growth	-320.43%	-72.40%	4.66%	293.98%	-1,609.09%	-94.42%	-39.20%	266.15%	-657.14%	-53.95%	-61.42%
NOPAT Q/Q Growth	-310.19%	-73.26%	9.45%	292.92%	-626.25%	-110.53%	-38.94%	291.14%	-1,000.59%	-62.11%	-72.84%
Net Income Q/Q Growth	-333.80%	-69.92%	7.27%	266.67%	-6,500.00%	-101.44%	-42.08%	269.01%	-745.45%	-45.00%	-71.22%
EPS Q/Q Growth	-332.76%	-68.48%	7.60%	262.86%	0.00%	0.00%	-41.94%	267.57%	-684.21%	-38.71%	-71.56%
Operating Cash Flow Q/Q Growth	67.52%	-13.84%	-45.17%	98.63%	650.94%	-119.56%	-45.58%	49.10%	3,611.11%	-97.55%	-51.39%
Free Cash Flow Firm Q/Q Growth	-79.60%	-5.95%	-863.77%	81.29%	20.82%	14.78%	-40.60%	-196.46%	-10.22%	-331.29%	463.83%
Invested Capital Q/Q Growth	12.43%	3.30%	51.04%	2.93%	-12.21%	6.37%	13.50%	18.90%	-6.16%	23.28%	7.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.68%	132.17%	40.79%	41.91%	29.17%	176.15%	31.95%	43.34%	24.73%	185.96%	34.51%
EBITDA Margin	-0.35%	8.01%	15.49%	15.53%	-1.79%	5.17%	10.92%	15.40%	-4.14%	5.65%	6.36%
Operating Margin	-6.28%	2.07%	11.10%	11.11%	-7.44%	1.25%	7.43%	11.87%	-8.47%	0.93%	2.19%
EBIT Margin	-6.53%	2.63%	10.97%	11.11%	-7.44%	0.43%	6.94%	11.42%	-8.88%	1.41%	2.69%
Profit (Net Income) Margin	-5.29%	2.01%	7.68%	7.59%	-5.91%	-0.08%	4.90%	8.46%	-6.47%	0.89%	1.41%
Tax Burden Percent	71.24%	89.87%	71.95%	69.62%	74.16%	-50.00%	72.02%	73.85%	71.36%	62.86%	61.54%
Interest Burden Percent	113.66%	84.95%	97.33%	98.14%	107.23%	36.36%	97.97%	100.31%	102.05%	100.00%	85.53%
Effective Tax Rate	0.00%	10.13%	28.05%	30.38%	0.00%	150.00%	27.98%	26.15%	0.00%	37.14%	38.46%
Return on Invested Capital (ROIC)	-9.29%	3.74%	15.43%	19.48%	-14.33%	-1.56%	14.99%	27.28%	-18.66%	1.66%	3.98%
ROIC Less NNEP Spread (ROIC-NNEP)	-10.75%	4.08%	14.70%	14.89%	35.83%	5.07%	19.91%	28.89%	-15.95%	-0.15%	3.73%
Return on Net Nonoperating Assets (RNNOA)	-5.10%	1.52%	4.39%	0.33%	-0.29%	0.27%	-1.33%	-4.11%	1.89%	0.02%	-0.75%
Return on Equity (ROE)	-14.39%	5.26%	19.82%	19.81%	-14.62%	-1.30%	13.67%	23.17%	-16.77%	1.68%	3.22%
Cash Return on Invested Capital (CROIC)	-50.79%	-28.21%	-31.62%	-3.61%	-16.58%	-22.71%	-36.21%	-33.88%	-5.05%	-8.33%	5.57%
Operating Return on Assets (OROA)	-4.77%	1.80%	6.79%	7.75%	-5.35%	0.31%	4.84%	7.97%	-6.33%	0.97%	1.64%
Return on Assets (ROA)	-3.86%	1.37%	4.76%	5.30%	-4.25%	-0.06%	3.41%	5.90%	-4.61%	0.61%	0.86%
Return on Common Equity (ROCE)	-14.39%	5.26%	19.82%	19.81%	-14.62%	-1.30%	13.67%	23.17%	-16.77%	1.68%	3.22%
Return on Equity Simple (ROE_SIMPLE)	8.73%	0.00%	7.19%	5.32%	6.16%	0.00%	6.33%	4.05%	1.60%	0.00%	1.41%
Net Operating Profit after Tax (NOPAT)	-138	66	245	224	-116	-16	152	249	-130	14	38
NOPAT Margin	-4.40%	1.86%	7.99%	7.74%	-5.21%	-0.63%	5.35%	8.77%	-5.93%	0.58%	1.35%
Net Nonoperating Expense Percent (NNEP)	1.46%	-0.34%	0.73%	4.59%	-50.16%	-6.64%	-4.92%	-1.61%	-2.71%	1.81%	0.25%
Return On Investment Capital (ROIC_SIMPLE)	-1.35%	0.70%	-	-	-	-0.24%	-	-	-	0.24%	-
Cost of Revenue to Revenue	57.32%	-32.17%	59.21%	58.09%	70.83%	-76.15%	68.05%	56.66%	75.27%	-85.96%	65.49%
SG&A Expenses to Revenue	16.13%	14.15%	12.76%	12.98%	16.98%	13.94%	13.00%	12.61%	15.39%	13.88%	13.15%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	48.96%	130.11%	29.69%	30.79%	36.60%	174.89%	24.52%	31.47%	33.20%	185.03%	32.32%
Earnings before Interest and Taxes (EBIT)	-205	93	337	322	-166	11	197	324	-195	35	76
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-11	283	476	450	-40	132	310	437	-91	140	180
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.46	1.88	1.27	1.21	1.38	1.22	1.15	1.72	1.45	1.43	1.30
Price to Tangible Book Value (P/TBV)	10.93	10.61	6.42	2.34	2.83	2.41	2.29	3.55	3.24	3.06	2.78
Price to Revenue (P/Rev)	0.48	0.70	0.53	0.49	0.53	0.48	0.46	0.66	0.53	0.56	0.57
Price to Earnings (P/E)	16.78	20.81	17.71	22.78	22.47	21.29	18.21	42.51	90.71	93.90	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.96%	4.81%	5.65%	4.39%	4.45%	4.70%	5.49%	2.35%	1.10%	1.06%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.25	1.56	1.18	1.21	1.36	1.19	1.14	1.72	1.49	1.46	1.39
Enterprise Value to Revenue (EV/Rev)	0.76	0.91	0.73	0.50	0.55	0.55	0.50	0.66	0.49	0.54	0.46
Enterprise Value to EBITDA (EV/EBITDA)	8.03	9.15	7.71	6.21	6.90	7.21	6.45	10.24	9.41	9.70	7.41
Enterprise Value to EBIT (EV/EBIT)	17.59	18.25	15.58	14.53	15.83	16.86	14.21	28.42	44.12	43.24	30.25
Enterprise Value to NOPAT (EV/NOPAT)	24.23	25.89	21.67	19.74	19.64	19.83	18.21	40.83	84.50	100.96	63.24
Enterprise Value to Operating Cash Flow (EV/OCF)	5.90	7.31	6.91	4.85	5.75	5.41	4.61	5.65	3.40	3.66	2.62
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	24.59
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.46	1.14	1.05	0.63	0.65	0.60	0.70	0.62	0.56	0.57	0.58
Long-Term Debt to Equity	1.34	1.04	0.93	0.55	0.57	0.53	0.52	0.48	0.49	0.49	0.49
Financial Leverage	0.47	0.37	0.30	0.02	-0.01	0.05	-0.07	-0.14	-0.12	-0.11	-0.20
Leverage Ratio	4.27	4.05	4.05	3.69	3.80	3.63	3.75	3.82	3.89	3.69	3.86
Compound Leverage Factor	4.85	3.44	3.94	3.62	4.07	1.32	3.67	3.83	3.97	3.69	3.30
Debt to Total Capital	59.41%	53.25%	51.11%	38.74%	39.21%	37.53%	41.17%	38.38%	35.87%	36.13%	36.61%
Short-Term Debt to Total Capital	5.09%	4.73%	5.71%	5.20%	4.60%	4.39%	10.58%	8.92%	4.66%	4.62%	5.32%
Long-Term Debt to Total Capital	54.31%	48.52%	45.40%	33.53%	34.61%	33.14%	30.59%	29.46%	31.21%	31.51%	31.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	40.59%	46.75%	48.89%	61.26%	60.79%	62.47%	58.83%	61.62%	64.13%	63.87%	63.39%
Debt to EBITDA	5.05	4.26	4.60	3.14	3.06	3.14	3.60	3.70	3.89	4.04	4.07
Net Debt to EBITDA	2.97	2.12	2.11	0.19	0.34	0.86	0.52	0.03	-0.69	-0.48	-1.73
Long-Term Debt to EBITDA	4.62	3.88	4.09	2.71	2.70	2.77	2.67	2.84	3.39	3.52	3.48
Debt to NOPAT	15.25	12.05	12.92	9.97	8.70	8.62	10.17	14.73	34.97	42.01	34.74
Net Debt to NOPAT	8.97	5.99	5.93	0.61	0.97	2.37	1.47	0.11	-6.20	-5.02	-14.78
Long-Term Debt to NOPAT	13.94	10.98	11.48	8.63	7.68	7.61	7.55	11.31	30.42	36.64	29.69
Altman Z-Score	0.99	1.13	1.03	1.33	1.25	1.29	1.29	1.40	1.23	1.30	1.23
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.56	0.61	0.60	0.68	0.65	0.61	0.72	0.63	0.64	0.68	0.81
Quick Ratio	0.45	0.49	0.48	0.58	0.55	0.49	0.55	0.54	0.57	0.60	0.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3,573	-1,989	-1,878	-195	-1,041	-1,251	-1,468	-1,044	-352	-320	138
Operating Cash Flow to CapEx	192.86%	63.87%	49.30%	386.67%	512.28%	-4.52%	265.69%	518.75%	269.35%	1.24%	116.51%
Free Cash Flow to Firm to Interest Expense	-66.16	-43.25	-50.75	-6.49	-35.90	-50.04	-54.37	-49.72	-16.77	-17.75	4.93
Operating Cash Flow to Interest Expense	8.50	5.96	8.59	19.33	10.07	-2.12	10.04	23.71	15.90	0.50	13.11
Operating Cash Flow Less CapEx to Interest Expense	4.09	-3.37	-8.84	14.33	8.10	-49.00	6.26	19.14	10.00	-39.72	1.86
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.73	0.68	0.62	0.70	0.72	0.72	0.70	0.70	0.71	0.69	0.61
Accounts Receivable Turnover	26.53	24.94	25.27	29.18	28.90	30.71	30.18	27.50	20.36	22.91	19.65
Inventory Turnover	29.06	25.05	45.93	70.92	71.56	29.54	67.34	71.93	81.08	35.31	96.90
Fixed Asset Turnover	1.33	1.22	1.16	1.28	1.35	1.33	1.41	1.43	1.51	1.44	1.36
Accounts Payable Turnover	21.55	20.08	31.59	36.40	38.65	15.18	33.75	28.89	29.38	13.92	39.47
Days Sales Outstanding (DSO)	13.76	14.63	14.44	12.51	12.63	11.89	12.09	13.27	17.92	15.93	18.58
Days Inventory Outstanding (DIO)	12.56	14.57	7.95	5.15	5.10	12.36	5.42	5.07	4.50	10.34	3.77
Days Payable Outstanding (DPO)	16.94	18.18	11.55	10.03	9.44	24.04	10.82	12.64	12.42	26.21	9.25
Cash Conversion Cycle (CCC)	9.38	11.03	10.84	7.63	8.29	0.20	6.70	5.71	10.00	0.05	13.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,699	6,848	6,629	4,389	4,264	4,793	4,506	3,970	3,339	3,558	2,886
Invested Capital Turnover	2.11	2.02	1.93	2.52	2.75	2.50	2.80	3.11	3.15	2.84	2.95
Increase / (Decrease) in Invested Capital	3,435	2,055	2,123	419	925	1,235	1,620	1,293	222	334	-100
Enterprise Value (EV)	9,620	10,696	7,854	5,289	5,792	5,683	5,130	6,821	4,986	5,188	4,023
Market Capitalization	6,058	8,220	5,704	5,126	5,505	5,003	4,717	6,802	5,352	5,446	4,963
Book Value per Share	$33.61	$34.44	$35.50	$33.30	$31.57	$32.12	$32.17	$30.89	$28.92	$30.09	$30.18
Tangible Book Value per Share	$4.50	$6.11	$7.04	$17.28	$15.43	$16.24	$16.18	$14.97	$12.95	$14.02	$14.09
Total Capital	10,191	9,352	9,161	6,898	6,542	6,584	6,957	6,412	5,752	5,975	6,036
Total Debt	6,054	4,980	4,682	2,672	2,565	2,471	2,864	2,461	2,063	2,159	2,210
Total Long-Term Debt	5,535	4,538	4,159	2,313	2,264	2,182	2,128	1,889	1,795	1,883	1,889
Net Debt	3,562	2,476	2,150	163	287	680	413	19	-366	-258	-940
Capital Expenditures (CapEx)	238	429	645	150	57	1,172	102	96	124	724	315
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4,952	-4,447	-4,520	-3,742	-3,677	-3,256	-3,145	-3,802	-3,919	-3,594	-3,728
Debt-free Net Working Capital (DFNWC)	-2,460	-1,943	-1,988	-1,233	-1,399	-1,465	-694	-1,360	-1,490	-1,177	-578
Net Working Capital (NWC)	-2,979	-2,385	-2,511	-1,592	-1,700	-1,754	-1,430	-1,932	-1,758	-1,453	-899
Net Nonoperating Expense (NNE)	28	-5.39	9.35	4.18	16	-14	13	8.86	12	-7.54	-1.85
Net Nonoperating Obligations (NNO)	3,562	2,476	2,150	163	287	680	413	19	-350	-258	-940
Total Depreciation and Amortization (D&A)	194	190	139	128	126	121	113	113	104	105	104
Debt-free, Cash-free Net Working Capital to Revenue	-39.18%	-37.90%	-42.03%	-35.57%	-35.15%	-31.23%	-30.38%	-36.77%	-38.57%	-37.26%	-43.07%
Debt-free Net Working Capital to Revenue	-19.46%	-16.56%	-18.49%	-11.72%	-13.37%	-14.05%	-6.70%	-13.15%	-14.66%	-12.20%	-6.68%
Net Working Capital to Revenue	-23.57%	-20.32%	-23.35%	-15.13%	-16.25%	-16.82%	-13.81%	-18.68%	-17.30%	-15.06%	-10.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.35)	$0.57	$1.87	$1.74	($1.05)	($0.02)	$1.09	$1.88	($1.11)	$0.18	$0.32
Adjusted Weighted Average Basic Shares Outstanding	123.13M	126.14M	126.19M	126.34M	125.97M	127.38M	127.19M	127.44M	127.50M	126.66M	126.78M
Adjusted Diluted Earnings per Share	($1.35)	$0.58	$1.84	$1.71	($1.05)	$0.00	$1.08	$1.86	($1.11)	$0.19	$0.31
Adjusted Weighted Average Diluted Shares Outstanding	123.13M	128.37M	128.59M	128.31M	125.97M	128.71M	129.19M	128.92M	127.50M	127.90M	128.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	121.39M	123.08M	126.94M	126.16M	126.89M	126.05M	128.05M	127.22M	127.91M	127.54M	126.84M
Normalized Net Operating Profit after Tax (NOPAT)	-138	66	299	224	-92	22	264	249	-121	14	134
Normalized NOPAT Margin	-4.40%	1.86%	9.72%	7.74%	-4.14%	0.88%	9.31%	8.77%	-5.51%	0.58%	4.72%
Pre Tax Income Margin	-7.43%	2.24%	10.68%	10.91%	-7.97%	0.16%	6.80%	11.45%	-9.06%	1.41%	2.30%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.80	2.02	9.11	10.73	-5.72	0.44	7.30	15.43	-9.29	1.94	2.71
NOPAT to Interest Expense	-2.55	1.43	6.63	7.47	-4.01	-0.64	5.63	11.85	-6.20	0.80	1.36
EBIT Less CapEx to Interest Expense	-8.20	-7.30	-8.32	5.73	-7.69	-46.44	3.52	10.86	-15.19	-38.28	-8.54
NOPAT Less CapEx to Interest Expense	-6.96	-7.90	-10.80	2.47	-5.97	-47.52	1.85	7.28	-12.10	-39.42	-9.89
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	109.97%	78.99%	40.37%	57.33%	56.73%	58.30%	27.03%	35.63%	30.51%	0.00%	0.00%

Frequently Asked Questions About Alaska Air Group's Financials

When does Alaska Air Group's fiscal year end?

According to the most recent income statement we have on file, Alaska Air Group's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Alaska Air Group's net income changed over the last 9 years?

Alaska Air Group's net income appears to be on a downward trend, with a most recent value of $395 million in 2024, falling from $848 million in 2015. The previous period was $235 million in 2023. Find out what analysts predict for Alaska Air Group in the coming months.

What is Alaska Air Group's operating income?

Alaska Air Group's total operating income in 2024 was $570 million, based on the following breakdown:

Total Gross Profit: $7.79 billion
Total Operating Expenses: $7.22 billion

How has Alaska Air Group revenue changed over the last 9 years?

Over the last 9 years, Alaska Air Group's total revenue changed from $5.60 billion in 2015 to $11.74 billion in 2024, a change of 109.6%.

How much debt does Alaska Air Group have?

Alaska Air Group's total liabilities were at $15.40 billion at the end of 2024, a 46.6% increase from 2023, and a 273.8% increase since 2015.

How much cash does Alaska Air Group have?

In the past 9 years, Alaska Air Group's cash and equivalents has ranged from $73 million in 2015 to $1.37 billion in 2020, and is currently $1.20 billion as of their latest financial filing in 2024.

How has Alaska Air Group's book value per share changed over the last 9 years?

Over the last 9 years, Alaska Air Group's book value per share changed from 19.12 in 2015 to 34.44 in 2024, a change of 80.2%.

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This page (NYSE:ALK) was last updated on 5/30/2025 by MarketBeat.com Staff

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Alaska Air Group (ALK) Financials

Frequently Asked Questions About Alaska Air Group's Financials

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Alaska Air Group (ALK) Financials

Annual Income Statements for Alaska Air Group

Quarterly Income Statements for Alaska Air Group

Annual Cash Flow Statements for Alaska Air Group

Quarterly Cash Flow Statements for Alaska Air Group

Annual Balance Sheets for Alaska Air Group

Quarterly Balance Sheets for Alaska Air Group

Annual Metrics And Ratios for Alaska Air Group

Quarterly Metrics And Ratios for Alaska Air Group

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