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Side-by-side financial comparison of Allegiant Travel CO (ALGT) and ALASKA AIR GROUP, INC. (ALK). Click either name above to swap in a different company.
ALASKA AIR GROUP, INC. is the larger business by last-quarter revenue ($3.3B vs $595.5M, roughly 5.5× Allegiant Travel CO). Allegiant Travel CO runs the higher net margin — 5.4% vs -5.8%, a 11.2% gap on every dollar of revenue. On growth, Allegiant Travel CO posted the faster year-over-year revenue change (7.6% vs 5.2%). Over the past eight quarters, ALASKA AIR GROUP, INC.'s revenue compounded faster (6.7% CAGR vs 1.3%).
Allegiant Air, styled as allegiant, is an American low-cost airline headquartered in Las Vegas, Nevada. The airline focuses on serving leisure traffic from small and medium-sized cities which it considers to be underserved, using an ultra low-cost business model with minimal inclusions in fares and a greater number of add-on fees.
Alaska Air Group, Inc. is an American airline holding company based in SeaTac, Washington, United States. The group owns two mainline carriers, Alaska Airlines and Hawaiian Airlines, along with a regional airline, Horizon Air. Alaska Airlines in turn wholly owns an aircraft ground handling company, McGee Air Services.
ALGT vs ALK — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $595.5M | $3.3B |
| Net Profit | $31.9M | $-193.0M |
| Gross Margin | — | — |
| Operating Margin | 11.2% | — |
| Net Margin | 5.4% | -5.8% |
| Revenue YoY | 7.6% | 5.2% |
| Net Profit YoY | 114.8% | -16.3% |
| EPS (diluted) | $1.82 | $-1.69 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $3.3B | ||
| Q4 25 | $595.5M | $3.6B | ||
| Q3 25 | $494.1M | $3.8B | ||
| Q2 25 | $617.9M | $3.7B | ||
| Q1 25 | $616.8M | $3.1B | ||
| Q4 24 | $553.6M | $3.5B | ||
| Q3 24 | $489.0M | $3.1B | ||
| Q2 24 | $594.5M | $2.9B |
| Q1 26 | — | $-193.0M | ||
| Q4 25 | $31.9M | $21.0M | ||
| Q3 25 | $-43.6M | $73.0M | ||
| Q2 25 | $-65.2M | $172.0M | ||
| Q1 25 | $32.1M | $-166.0M | ||
| Q4 24 | $-216.2M | $71.0M | ||
| Q3 24 | $-36.8M | $236.0M | ||
| Q2 24 | $13.7M | $220.0M |
| Q1 26 | — | — | ||
| Q4 25 | 11.2% | 2.1% | ||
| Q3 25 | -5.5% | 3.9% | ||
| Q2 25 | -10.9% | 7.5% | ||
| Q1 25 | 10.5% | -6.3% | ||
| Q4 24 | -47.7% | 2.1% | ||
| Q3 24 | -5.4% | 11.1% | ||
| Q2 24 | 5.9% | 11.1% |
| Q1 26 | — | -5.8% | ||
| Q4 25 | 5.4% | 0.6% | ||
| Q3 25 | -8.8% | 1.9% | ||
| Q2 25 | -10.5% | 4.6% | ||
| Q1 25 | 5.2% | -5.3% | ||
| Q4 24 | -39.1% | 2.0% | ||
| Q3 24 | -7.5% | 7.7% | ||
| Q2 24 | 2.3% | 7.6% |
| Q1 26 | — | $-1.69 | ||
| Q4 25 | $1.82 | $0.14 | ||
| Q3 25 | $-2.41 | $0.62 | ||
| Q2 25 | $-3.62 | $1.42 | ||
| Q1 25 | $1.73 | $-1.35 | ||
| Q4 24 | $-12.12 | $0.58 | ||
| Q3 24 | $-2.05 | $1.84 | ||
| Q2 24 | $0.75 | $1.71 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $805.7M | $451.0M |
| Total DebtLower is stronger | $1.7B | $5.3B |
| Stockholders' EquityBook value | $1.1B | $3.7B |
| Total Assets | $4.2B | $20.3B |
| Debt / EquityLower = less leverage | 1.60× | 1.43× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $451.0M | ||
| Q4 25 | $805.7M | $627.0M | ||
| Q3 25 | $956.7M | $2.3B | ||
| Q2 25 | $842.8M | $2.1B | ||
| Q1 25 | $878.6M | $2.5B | ||
| Q4 24 | $781.1M | $2.5B | ||
| Q3 24 | $759.3M | $2.5B | ||
| Q2 24 | $791.9M | $2.5B |
| Q1 26 | — | $5.3B | ||
| Q4 25 | $1.7B | $4.8B | ||
| Q3 25 | $1.8B | $5.0B | ||
| Q2 25 | $1.8B | $4.9B | ||
| Q1 25 | $1.7B | $4.8B | ||
| Q4 24 | $1.6B | $4.5B | ||
| Q3 24 | $1.8B | $4.6B | ||
| Q2 24 | $1.7B | $2.7B |
| Q1 26 | — | $3.7B | ||
| Q4 25 | $1.1B | $4.1B | ||
| Q3 25 | $1.0B | $4.0B | ||
| Q2 25 | $1.1B | $3.9B | ||
| Q1 25 | $1.1B | $4.1B | ||
| Q4 24 | $1.1B | $4.4B | ||
| Q3 24 | $1.3B | $4.5B | ||
| Q2 24 | $1.3B | $4.2B |
| Q1 26 | — | $20.3B | ||
| Q4 25 | $4.2B | $20.4B | ||
| Q3 25 | $4.4B | $20.0B | ||
| Q2 25 | $4.4B | $19.9B | ||
| Q1 25 | $4.5B | $19.8B | ||
| Q4 24 | $4.4B | $19.8B | ||
| Q3 24 | $4.8B | $19.6B | ||
| Q2 24 | $4.9B | $15.3B |
| Q1 26 | — | 1.43× | ||
| Q4 25 | 1.60× | 1.17× | ||
| Q3 25 | 1.76× | 1.24× | ||
| Q2 25 | 1.68× | 1.26× | ||
| Q1 25 | 1.57× | 1.16× | ||
| Q4 24 | 1.48× | 1.04× | ||
| Q3 24 | 1.36× | 1.03× | ||
| Q2 24 | 1.30× | 0.63× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $112.2M | $229.0M |
| Free Cash FlowOCF − Capex | $90.4M | — |
| FCF MarginFCF / Revenue | 15.2% | — |
| Capex IntensityCapex / Revenue | 3.7% | 10.2% |
| Cash ConversionOCF / Net Profit | 3.51× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $229.0M | ||
| Q4 25 | $112.2M | $185.0M | ||
| Q3 25 | $-6.1M | $229.0M | ||
| Q2 25 | $92.2M | $376.0M | ||
| Q1 25 | $191.4M | $459.0M | ||
| Q4 24 | $84.4M | $274.0M | ||
| Q3 24 | $17.3M | $318.0M | ||
| Q2 24 | $68.9M | $580.0M |
| Q1 26 | — | — | ||
| Q4 25 | $90.4M | — | ||
| Q3 25 | $-121.7M | — | ||
| Q2 25 | $-10.5M | — | ||
| Q1 25 | $116.9M | — | ||
| Q4 24 | $24.0M | — | ||
| Q3 24 | $-28.7M | — | ||
| Q2 24 | $7.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 15.2% | — | ||
| Q3 25 | -24.6% | — | ||
| Q2 25 | -1.7% | — | ||
| Q1 25 | 19.0% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | -5.9% | — | ||
| Q2 24 | 1.2% | — |
| Q1 26 | — | 10.2% | ||
| Q4 25 | 3.7% | — | ||
| Q3 25 | 23.4% | — | ||
| Q2 25 | 16.6% | — | ||
| Q1 25 | 12.1% | — | ||
| Q4 24 | 10.9% | — | ||
| Q3 24 | 9.4% | — | ||
| Q2 24 | 10.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.51× | 8.81× | ||
| Q3 25 | — | 3.14× | ||
| Q2 25 | — | 2.19× | ||
| Q1 25 | 5.96× | — | ||
| Q4 24 | — | 3.86× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | 5.03× | 2.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALGT
| Airrelatedrevenue | $307.1M | 52% |
| Scheduled Service Revenue | $267.1M | 45% |
| Cobrand Revenue | $21.3M | 4% |
| Other | $1.0K | 0% |
ALK
| Passenger revenue | $2.9B | 88% |
| Loyalty program other revenue | $227.0M | 7% |
| Cargo and other revenue | $153.0M | 5% |
