ALK
Alaska Air Group, Inc.
ALK lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to shrink, though they disagree widely on how much.
ALK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Weak |
ALK's revenue is currently healthy, but its profitability, cash flow and balance sheet are under pressure.
ALK PE Valuation
ALK has no meaningful PE right now: it lost money over the past year.
ALK Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect ALK's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
ALK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.55 | -380% |
| Q2 2026 | -$1.61 | -165% |
| Q1 2026 | $0.49 | -82% |
| Q4 2025 | $0.83 | -73% |
| Q3 2025 | $1.27 | -49% |
| Q2 2025 | $2.49 | +43% |
| Q1 2025 | $2.78 | +47% |
| Q4 2024 | $3.08 | +68% |
ALK has swung to a loss: it lost $3.55 per share over the past year, after a profit the year before.
ALK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +14% |
| Q2 2026 | $4.1B | +9.7% |
| Q1 2026 | $3.3B | +5.2% |
| Q4 2025 | $3.6B | +2.8% |
| Q3 2025 | $3.8B | +23% |
| Q2 2025 | $3.7B | +28% |
| Q1 2025 | $3.1B | +41% |
| Q4 2024 | $3.5B | +38% |
ALK's revenue has grown year over year for 22 quarters in a row: $4.3B last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.9% | -2 points |
| Q2 2026 | -4.1% | -12 points |
| Q1 2026 | -8.4% | -2.2 points |
| Q4 2025 | 2.1% | 0 points |
| Q3 2025 | 3.9% | -7.2 points |
| Q2 2025 | 7.5% | -3.6 points |
| Q1 2025 | -6.3% | +1.2 points |
| Q4 2024 | 2.1% | +0.8 points |
ALK's operating margin was 1.9% last quarter, down 2 points from the same quarter a year ago.
ALK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $82M | -41% |
| Q2 2026 | $107M | -63% |
| Q1 2026 | $391M | -6.2% |
| Q4 2025 | $95M | -48% |
| Q3 2025 | $138M | -47% |
| Q2 2025 | $290M | -40% |
| Q1 2025 | $417M | +77% |
| Q4 2024 | $183M | +$739M |
ALK still generates free cash flow, though less than at its 2021 peak: $675M over the past year.
ALK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +484K shares |
| 1 year | -5% | -5.9M shares |
| 3 years | -14% | -17.6M shares |
| 5 years | -12% | -15.6M shares |
| Available history | -10% | -12.7M shares |
ALK has 112M diluted shares, down 5% from a year ago, with $280M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $57M |
| Q1 2026 | $193M |
| Q4 2025 | $30M |
| Q3 2025 | $5M |
| Q2 2025 | $430M |
| Q1 2025 | $105M |
| Q4 2024 | $249M |
ALK spent $280M buying back its own shares over the past year, down 65% from the year before.
ALK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 9.6x | High |
| Q2 2026 | 8.5x | High |
| Q1 2026 | 4.5x | High |
| Q4 2025 | 4.3x | High |
| Q3 2025 | 3.9x | Elevated |
| Q2 2025 | 3.5x | Elevated |
| Q1 2025 | 3.2x | Elevated |
| Q4 2024 | 3.2x | Elevated |
ALK's net debt is about 9.6 years of its operating earnings (EBITDA), up from 3.9 years a year ago.
ALK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.0 | Neutral |
| Stochastic | 28.9 | Neutral |
ALK's weekly RSI is 45 (neutral) and its Stochastic is 29 (neutral).
ALK PE vs Industrials Sector
| Metric | ALK | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
ALK has no meaningful PE right now: it lost money over the past year.
ALK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $37.9 | 3.1% above |
| 20 week MA | $42.3 | 7.6% below |
| 50 week MA | $44.7 | 13% below |
| 100 week MA | $49.7 | 21% below |
| 200 week MA | $46.1 | 15% below |
ALK has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 15% below its 200-week average.
ALK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $68.3 | $52.3 | -23% |
| 2021 | $52.3 | $53.0 | +1.5% |
| 2022 | $53.0 | $43.3 | -18% |
| 2023 | $43.3 | $39.1 | -9.8% |
| 2024 | $39.1 | $65.8 | +68% |
| 2025 | $65.8 | $51.5 | -22% |
| 2026 YTD | $51.5 | $39.1 | -24% |
ALK has finished lower in four of the last six years. It's down 24% so far in 2026.