Alaska Air Group, Inc. (ALK) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Airlines, Airports & Air Services
EV/EBITDA
↑
10.85
↓-13% vs avg
5yr avg: 12.46
30Y Low3.1·High73.3
P/FCF
↑
N/A
—
5yr avg: 27.19
30Y Low5.6·High45.4
P/B Ratio
↓
1.40
-9% vs avg
5yr avg: 1.55
30Y Low0.9·High4.3
ROE
↓
2.4%
↑-65% vs avg
5yr avg: 6.6%
30Y Low-36%·High37%
Debt/EBITDA
↑
6.28
+10% vs avg
5yr avg: 5.72
30Y Low0.4·High49.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ALK Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Alaska Air Group, Inc. trades at 56.6x earnings, 35% above its 5-year average of 41.9x, sitting at the 91st percentile of its historical range. Compared to the Industrials sector median P/E of 25.5x, the stock trades at a premium of 122%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.6B | $5.9B | $8.3B | $5.0B | $5.5B | $6.6B | $6.4B | $8.4B | $7.5B | $9.1B | $11.0B |
| Enterprise Value | $11.9B | $12.2B | $13.5B | $8.6B | $8.9B | $10.2B | $10.1B | $11.4B | $9.5B | $11.2B | $13.7B |
| P/E Ratio → | 56.62 | 57.82 | 21.02 | 21.35 | 95.42 | 13.82 | — | 10.95 | 17.29 | 9.49 | 13.84 |
| P/S Ratio | 0.40 | 0.41 | 0.71 | 0.48 | 0.57 | 1.07 | 1.80 | 0.96 | 0.91 | 1.15 | 1.86 |
| P/B Ratio | 1.40 | 1.43 | 1.90 | 1.22 | 1.44 | 1.74 | 2.15 | 1.94 | 2.01 | 2.63 | 3.77 |
| P/FCF | — | — | 45.42 | — | — | 8.95 | — | 8.21 | 32.10 | 16.14 | 15.59 |
| P/OCF | 4.52 | 4.73 | 5.68 | 4.79 | 3.87 | 6.41 | — | 4.89 | 6.31 | 5.73 | 7.96 |
P/E links to full P/E history page with 30-year chart
ALK EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Alaska Air Group, Inc.'s enterprise value stands at 10.8x EBITDA, 13% below its 5-year average of 12.5x. The Industrials sector median is 13.9x, placing the stock at a 22% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.85 | 1.15 | 0.82 | 0.93 | 1.65 | 2.83 | 1.30 | 1.15 | 1.42 | 2.30 |
| EV / EBITDA | 10.85 | 11.08 | 12.21 | 10.45 | 19.09 | 9.47 | — | 7.68 | 9.17 | 7.07 | 8.19 |
| EV / EBIT | 39.32 | 24.39 | 15.19 | 10.47 | 12.65 | — | — | 10.65 | 12.03 | 8.44 | 9.69 |
| EV / FCF | — | — | 73.79 | — | — | 13.85 | — | 11.12 | 40.60 | 19.81 | 19.30 |
ALK Profitability
Margins and return-on-capital ratios measuring operating efficiency
Alaska Air Group, Inc. earns an operating margin of 2.1%, below the Industrials sector average of 4.3%. Operating margins have compressed from 3.8% to 2.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 2.4% is modest, trailing the sector median of 8.2%. ROIC of 2.3% represents below-average returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.7% | 59.7% | 24.4% | 23.6% | 22.1% | 13.2% | -22.0% | 26.9% | 25.3% | 33.3% | 41.5% |
| Operating Margin | 2.1% | 2.1% | 4.9% | 3.8% | 0.7% | 11.1% | -49.8% | 12.1% | 7.8% | 15.3% | 22.0% |
| Net Profit Margin | 0.7% | 0.7% | 3.4% | 2.3% | 0.6% | 7.7% | -37.1% | 8.8% | 5.3% | 12.2% | 13.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.4% | 2.4% | 9.3% | 5.9% | 1.5% | 14.1% | -36.2% | 19.0% | 12.1% | 30.0% | 29.8% |
| ROA | 0.5% | 0.5% | 2.2% | 1.5% | 0.4% | 3.3% | -9.4% | 6.2% | 4.0% | 9.3% | 9.7% |
| ROIC | 2.3% | 2.3% | 5.0% | 4.0% | 0.7% | 7.3% | -19.0% | 12.2% | 8.6% | 16.3% | 22.8% |
| ROCE | 2.2% | 2.2% | 4.6% | 3.5% | 0.6% | 6.6% | -17.3% | 11.3% | 8.0% | 15.6% | 21.5% |
ALK Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Alaska Air Group, Inc. carries a Debt/EBITDA ratio of 6.3x, which is highly leveraged (94% above the sector average of 3.2x). Net debt stands at $6.3B ($6.9B total debt minus $627M cash). Interest coverage of just 1.2x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.67 | 1.67 | 1.46 | 0.93 | 0.99 | 1.07 | 1.69 | 0.74 | 0.56 | 0.65 | 1.01 |
| Debt / EBITDA | 6.28 | 6.28 | 5.78 | 4.66 | 8.08 | 3.79 | — | 2.16 | 2.02 | 1.43 | 1.77 |
| Net Debt / Equity | — | 1.52 | 1.19 | 0.86 | 0.90 | 0.95 | 1.23 | 0.69 | 0.53 | 0.60 | 0.90 |
| Net Debt / EBITDA | 5.71 | 5.71 | 4.69 | 4.31 | 7.35 | 3.35 | — | 2.01 | 1.92 | 1.31 | 1.57 |
| Debt / FCF | — | — | 28.37 | — | — | 4.90 | — | 2.91 | 8.50 | 3.67 | 3.71 |
| Interest Coverage | 1.25 | 1.25 | 4.01 | 3.26 | 0.74 | 5.85 | -20.40 | 16.87 | 8.81 | 14.05 | 43.53 |
ALK Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.50x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.61x to 0.50x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.50 | 0.50 | 0.61 | 0.61 | 0.68 | 0.98 | 0.93 | 0.64 | 0.61 | 0.80 | 0.81 |
| Quick Ratio | 0.46 | 0.46 | 0.58 | 0.58 | 0.65 | 0.97 | 0.92 | 0.61 | 0.59 | 0.78 | 0.79 |
| Cash Ratio | 0.32 | 0.32 | 0.40 | 0.40 | 0.54 | 0.78 | 0.78 | 0.48 | 0.42 | 0.60 | 0.62 |
| Asset Turnover | — | 0.70 | 0.59 | 0.66 | 0.63 | 0.41 | 0.25 | 0.63 | 0.76 | 0.73 | 0.59 |
| Inventory Turnover | 28.30 | 28.30 | 44.59 | 68.65 | 72.24 | 86.44 | 76.30 | 89.10 | 102.92 | 92.42 | 73.64 |
| Days Sales Outstanding | — | 14.48 | 17.36 | 13.41 | 11.20 | 32.27 | 49.13 | 13.43 | 16.17 | 15.77 | 18.59 |
ALK Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Alaska Air Group, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 1.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 0.7% | 2.1% | 2.1% | 1.6% | 1.2% |
| Payout Ratio | — | — | — | — | — | — | — | 22.5% | 36.2% | 15.4% | 17.1% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.8% | 1.7% | 4.8% | 4.7% | 1.0% | 7.2% | — | 9.1% | 5.8% | 10.5% | 7.2% |
| FCF Yield | — | — | 2.2% | — | — | 11.2% | — | 12.2% | 3.1% | 6.2% | 6.4% |
| Buyback Yield | 0.0% | 0.0% | 3.8% | 2.7% | 0.0% | 0.0% | 0.5% | 0.9% | 0.7% | 0.8% | 1.7% |
| Total Shareholder Yield | 0.0% | 0.0% | 3.8% | 2.7% | 0.0% | 0.0% | 1.2% | 2.9% | 2.8% | 2.4% | 3.0% |
| Shares Outstanding | — | $117M | $128M | $129M | $128M | $127M | $123M | $124M | $124M | $124M | $124M |
Peer Comparison
Compare ALK with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ALKYou | $6B | 56.6 | 10.8 | — | 59.7% | 2.1% | 2.4% | 2.3% | 6.3 |
 DAL | $55B | 11.0 | 8.7 | 14.3 | 22.8% | 9.2% | 27.8% | 12.0% | 2.6 |
 UAL | $38B | 11.6 | 8.3 | 15.0 | 64.1% | 8.0% | 24.0% | 9.1% | 4.1 |
 AAL | $11B | 94.1 | 13.0 | — | 19.2% | 2.7% | — | 3.5% | 10.5 |
 LUV | $24B | 60.7 | 13.2 | — | 17.4% | 1.5% | 4.8% | 3.0% | 3.0 |
 JBLU | $2B | -3.4 | 32.3 | — | 33.9% | -4.1% | -25.3% | -2.7% | 32.0 |
 ULCC | $2B | -12.0 | — | — | 35.5% | -4.0% | -25.0% | -2.3% | — |
 MESA | $879M | -0.0 | — | 63.1 | 99.1% | -46.5% | -528.9% | -62.9% | — |
 SKYW | $4B | 8.9 | 6.2 | 13.0 | 61.6% | 15.2% | 16.6% | 9.2% | 2.4 |
 ACHR | $4B | -5.6 | — | — | — | -243100.0% | -41.8% | -89.6% | — |
 BA | $176B | 89.8 | — | — | 4.8% | -6.1% | 289.7% | -9.5% | — |
| Industrials Median | — | 25.5 | 13.9 | 20.1 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
ALK — Frequently Asked Questions
Quick answers to the most common questions about buying ALK stock.
What is Alaska Air Group, Inc.'s P/E ratio?
Alaska Air Group, Inc.'s current P/E ratio is 56.6x. The historical average is 19.8x. This places it at the 91th percentile of its historical range.
What is Alaska Air Group, Inc.'s EV/EBITDA?
Alaska Air Group, Inc.'s current EV/EBITDA is 10.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.5x.
What is Alaska Air Group, Inc.'s ROE?
Alaska Air Group, Inc.'s return on equity (ROE) is 2.4%. The historical average is 10.1%.
Is ALK stock overvalued?
Based on historical data, Alaska Air Group, Inc. is trading at a P/E of 56.6x. This is at the 91th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Alaska Air Group, Inc.'s profit margins?
Alaska Air Group, Inc. has 59.7% gross margin and 2.1% operating margin.
How much debt does Alaska Air Group, Inc. have?
Alaska Air Group, Inc.'s Debt/EBITDA ratio is 6.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.