Last 47 quarters of trend data · Industrials · Airlines, Airports & Air Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Alaska Air Group, Inc.'s quarterly P/E stands at 69.9x, up 137.4% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has compressed 29.2% YoY to 11.1x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 56.09 | 69.86 | 20.07 | 8.71 | — | 29.43 | 6.14 | 5.91 | — | — | 8.58 | 7.15 | — |
| — | +137.4% | +226.8% | +47.5% | — | — | -28.4% | -17.4% | — | — | -72.8% | -22.2% | — | |
| P/S Ratio | 0.39 | 0.41 | 0.40 | 0.41 | 0.48 | 0.59 | 0.47 | 0.45 | 0.61 | 0.49 | 0.42 | 0.60 | 0.61 |
| — | -31.2% | -15.3% | -8.0% | -20.4% | +21.2% | +12.2% | -25.9% | -0.4% | -12.4% | -5.1% | +25.5% | -44.0% | |
| P/B Ratio | 1.39 | 1.43 | 1.50 | 1.55 | 1.46 | 1.91 | 1.30 | 1.23 | 1.36 | 1.21 | 1.17 | 1.74 | 1.45 |
| — | -24.9% | +15.4% | +26.1% | +7.6% | +57.8% | +10.9% | -29.3% | -6.1% | -16.3% | -10.9% | +28.8% | -27.8% | |
| P/FCF | — | — | 215.46 | — | 6.86 | — | 27.42 | 25.92 | 5.76 | — | — | 17.14 | 13.65 |
| — | — | +685.7% | — | +19.0% | — | — | +51.2% | -57.8% | — | — | +709.1% | — | |
| EV / EBITDA | 10.80 | 11.10 | 8.33 | 6.14 | — | 15.67 | 5.70 | 4.41 | — | 16.63 | 6.38 | 5.67 | — |
| — | -29.2% | +46.2% | +39.1% | — | -5.8% | -10.7% | -22.2% | — | -5.0% | -48.9% | -21.6% | — | |
| EV / EBIT | 39.14 | 29.83 | 16.90 | 8.75 | — | 21.16 | 6.65 | 4.28 | — | 33.26 | 6.23 | 4.91 | — |
| — | +41.0% | +154.0% | +104.4% | — | -36.4% | +6.9% | -12.8% | — | +100.5% | +44.2% | -9.8% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Alaska Air Group, Inc.'s operating margin was 2.1% in Q4 2025, down 1.9 pp QoQ and down 0.0 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. Gross margin expanded 332.1% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.7% | 94.3% | 96.0% | 25.5% | 16.3% | 21.8% | 28.6% | 31.3% | 13.8% | 18.9% | 26.5% | 33.1% | 12.8% |
| — | +332.1% | +235.9% | -18.3% | +18.2% | +15.6% | +8.0% | -5.6% | +7.5% | -17.5% | -15.2% | +12.6% | +70.7% | |
| Operating Margin | 2.1% | 2.1% | 3.9% | 7.5% | -6.3% | 2.1% | 11.1% | 11.1% | -7.4% | 1.3% | 7.4% | 11.9% | -8.5% |
| — | -0.0% | -64.6% | -32.7% | +15.6% | +64.8% | +49.4% | -6.4% | +12.2% | +35.1% | +239.0% | +68.8% | +29.5% | |
| Net Margin | 0.7% | 0.6% | 1.9% | 4.6% | -5.3% | 2.0% | 7.7% | 7.6% | -5.9% | -0.1% | 4.9% | 8.5% | -6.5% |
| — | -71.2% | -74.8% | -38.9% | +10.5% | +2665.9% | +56.9% | -10.2% | +8.5% | -108.8% | +246.2% | +61.7% | +24.0% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.4% | 0.5% | 1.8% | 4.3% | -3.9% | 1.6% | 5.4% | 5.4% | -3.3% | -0.0% | 3.5% | 6.3% | -3.8% |
| — | -67.9% | -66.2% | -20.6% | -19.6% | +3394.3% | +56.9% | -14.6% | +13.8% | -108.5% | +229.4% | +68.0% | +1.6% | |
| ROA | 0.5% | 0.1% | 0.4% | 0.9% | -0.8% | 0.4% | 1.4% | 1.5% | -0.9% | -0.0% | 0.9% | 1.6% | -1.0% |
| — | -71.2% | -72.9% | -40.6% | +2.6% | +2899.2% | +45.9% | -11.5% | +10.1% | -108.8% | +239.9% | +72.0% | +2.3% | |
| ROIC | 2.3% | 0.6% | 1.2% | 2.2% | -1.6% | 0.6% | 3.1% | 3.5% | -1.7% | 0.3% | 2.1% | 3.6% | -2.0% |
| — | -1.9% | -62.6% | -36.8% | +8.7% | +81.2% | +44.9% | -2.3% | +13.2% | +31.2% | +224.8% | +78.7% | +6.4% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Alaska Air Group, Inc.'s Debt/EBITDA ratio is 25.2x, up from 18.4x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 19.0% YoY to 0.50x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.67 | 1.67 | 1.61 | 1.62 | 1.52 | 1.46 | 1.37 | 0.92 | 0.96 | 0.93 | 1.01 | 0.98 | 1.01 |
| — | +14.5% | +17.1% | +76.3% | +57.9% | +57.5% | +36.0% | -6.8% | -5.0% | -6.3% | -2.5% | -8.5% | -8.0% | |
| Debt / EBITDA | 6.28 | 25.16 | 18.44 | 13.39 | — | 29.60 | 12.80 | 8.61 | — | 29.83 | 12.74 | 8.64 | — |
| — | -15.0% | +44.1% | +55.5% | — | -0.8% | +0.5% | -0.3% | — | +1.0% | -46.5% | -38.4% | — | |
| Current Ratio | 0.50 | 0.50 | 0.52 | 0.52 | 0.56 | 0.61 | 0.60 | 0.68 | 0.65 | 0.61 | 0.72 | 0.63 | 0.64 |
| — | -19.0% | -13.0% | -23.1% | -14.3% | +0.9% | -16.7% | +8.4% | +1.6% | -10.3% | -11.2% | -27.4% | -26.6% | |
| Quick Ratio | 0.46 | 0.46 | 0.52 | 0.49 | 0.52 | 0.58 | 0.57 | 0.66 | 0.63 | 0.58 | 0.69 | 0.61 | 0.62 |
| — | -19.8% | -8.0% | -25.5% | -16.3% | -0.2% | -18.5% | +8.6% | +1.6% | -11.1% | -12.0% | -28.2% | -27.7% | |
| Interest Coverage | 1.25 | 1.07 | 2.39 | 4.86 | -3.65 | 1.59 | 9.22 | 10.73 | -5.72 | 1.03 | 7.81 | 16.05 | -8.86 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying ALK stock.
Alaska Air Group, Inc.'s current P/E is 56.1x. The average P/E over the last 3 quarters is 32.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Alaska Air Group, Inc.'s current operating margin is 2.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Alaska Air Group, Inc.'s business trajectory between earnings reports.